I am currently negotiating with a dealer on behalf of my girlfriend who would like to lease a 2016 Civic LX. They provided the overall lowest sales price out of all the dealers I spoke with. We have come to the following numbers, but the monthly payment they quoted is much higher than what I calculated manually and with the online lease calculators. I believe there may be hidden fees somewhere between the breakdown and the final monthly payment that are increasing the monthly payment. They told me the MF is 0.00083 and RV is $12,445 (which I think they are wrong, everything I’ve seen says 64% which would be $12,976 based on the MSRP, correct?)
Car: 2016 Civic LX
Lease term/miles: 36mo/12k mi
MSRP: $20,275
Sales Price: $16,491
Freight/Destination: $835
Processing Fee: $599
Tax (6% Baltimore, MD): $1075.5
Tag: $69.75
VA Business Tax: 30.47
Net Price: $19,100.72
Location of Dealer: Virginia
Lease paperwork shows: $0 down, 36 mo lease/12k mi: $235/month payment.
When I run all those same numbers though leaseguide.com, I come up with:
MSRP: $20,275
Base Cap Cost: $16,491
Costs Added to Lease: $2,609 (I put the Freight/Destination, Processing Fee, MD Tax, Tag, and VA Business Tax from above into this field)
Adjusted Cap Cost: $19,100
Residual Value: $12,976
Money Factor: .00083
Term: 36mo
Sales Tax: 6%
Monthly Payment = $188.41+$11.30 tax=$199.71
When I calculated it manually with the worksheets I found, I came up with $208.53/month. So how do all of my own calculations either with online calculators or manual math come up with $199.71 or $208.53 and the dealership came up with $235? That is a pretty significant difference and I would like to figure it out before we go back to the dealership. Any response/feedback is appreciated!