Ok, I got all the answers I need. However, I’m not sure how/where to apply the lowered residual (due to mileage)? How does it figure in with my monthly payments?
I dont think anyone cares at this point. But I’ll post my experience anyways:
I went into the dealership last night to try and secure the lease. I wasn’t given any clear printout on the potential lease offer (I think the main thing missing was the cap cost, which they did not give me).
They also mentioned that the current miles would not count against me, and that I could bring the car back with 36k + whatever the mileage was at the time of sale without additional mileage fees. I disagreed, but they said that it would be in writing.
Here was the result (for FL):
MSRP: $46800
Sales Price: $34603
Mileage: 4300
MF: .00164 (sales manager told me he marked it up from .00119)
Residual: 60%
Doc: $300
Lic+Reg: $400
Aquisition: $750
My total came to $340/month with taxes included. Drive off around $1100 (first month, other upfront fees).
Using the exact same numbers in their system, they had $379/month.
I did not move forward with the lease because there was, what I felt, something fishy going on…Can anyone give me an idea why the $40 difference per month between my numbers and theirs? Am I doing something wrong or are they fudging the numbers somewhere and not telling me?
Sounds to me they’re rolling in some of the drive off fees. You say it’s $1100, but $750 Acq + $400 Reg + $300 Doc + $340 1st should be more like ~$1800.
Separately, I’m not a mod here but 60% residual for 36mo on a 1 (model) year old car seems very high. Might you be calculating with 2016 figures?
Adj cap cost = $34,603 + $750. Calculator does the job for you and calculates everything, including Rent Charge (or Finance Fee). Just plug in your numbers. How can you take mileage into account to calculate lease? You will get 36K miles on top of 4.3K miles.