Hey guys, I was offered the attached deal for a 39 month / 10,000 mi lease on the 2017 Infiniti Q50 3.0t Signature RWD. I tried to use the formula on Edmunds to calc the lease and this is what I came up with:
MSRP = $40,020
Gross Cap Cost = $34,918 (-$7,020 in Savings + $700 Bank Acq Fee + $1,217.50 in Dealer/State Fees)
Adj. Cap Cost = $32,918 (-$1,000 Rebate + -$500 Customer Cash - $500 Cash Down Payment)
Residual Value = $21,610
Depreciation = $11,308
Depreciation / 39 months = $289.94
Money Factor = .00003
Rent Charge = $1.64 / mo
Monthly Payment Before Tax = $291.57 / mo
Florida State Sales Tax = 6.0%
Monthly Payment Sales Tax = $17.49 / mo
Total Monthly Payment = $309.06 / mo
As you can see in the attachment from the dealer the payment they offered with $500 down is $346.28 so I am not getting to the same number. A few questions/observations:
- The residual value is not in the attachment but it was stated by the dealer. I have posted on Edmunds to find out what it should be.
- The money factor of .00003 was what appeared to be on Edmunds for similar vehicles, but my post also requested this info for this particular car.
- Is the RV% applied to the base MSRP of $38,700 or the total MSRP of $40,020? The top sheet in the attachment shows both of these figures and the residual the dealer gave me is almost exactly 54% of the total MSRP of $40,020.
- Is it likely that the dealer is marking up the MF? What is accounting for the difference in payment that I am calculating vs what they are offering?
- In the attachment there is a line item for Sales Tax of $854.40. How is that figure calculated?
I know this is a lengthy post so thank you for your time.
