I signed this deal last night probably not the greatest but the best I could get here in NYC area. I was looking for a specific model SV AWD with all weather package and no factory add-ons.
MSRP $27005
MF .0003
Residual 51
Tax 8.875%
DAS $261
Monthly $261
36/12
Here is the copy of the contract.
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Thanks for posting this one. Do you know what the MSRP is on it? I would like to see a break down on the calculator for educational purposes. I have only done one lease so far but the payment and terms look like a deal I would consider. Enjoy the new ride!!
MSRP is $27005
Can someone please post a screenshot of the calculator on this deal and help break it down for those of us trying to learn?
Enter the numbers based on the contract into the calculator.
If you get stuck, ask.
I did but Im am not coming close. I think there are fees that I am not inputting correctly. If this guy leased it from me he would of gotten it for under $200 so I am really far off using the calculator. I am reading the 101 section again right now.
post a link to your calculator entries then. We can’t help without seeing what you’re doing.
Ok I am getting closer but still not exact click here for what my came out with.
First thing that I notice is I had to take out his $3475 in rebates to close to his monthly payment. Can someone explain where the rebates should be input or what I am missing?
Rebates go into either taxable or non-taxable incentives, depending on your state.
Don’t get hung up on that though. At say 6%, a $3k incentive will only generate a $180 tax bill if it’s taxable.
So the rebate typically just come off the sales price? Can the rebate also be used on other taxes or fees associated with the lease.
Also in Texas would the sales tax be calculated differently?
AFAIK Texas taxes the selling price of the car, so you’d have to choose that option in the calculator.
Just enter the incentives as taxable incentives in the calculator. If it doesnt end up being taxed, that’s icing.
If you do this on the calculator the monthly payment goes down to $150 that is what confuses me. How to factor the incentives properly?
You are probably double counting incentives
Yes I think in this deal the incentives are already factored in somehow. Like the incentives are wiping out the difference in the msrp vs sales price and fees associated with the deal leaving just the first payment as the only money out of pocket he is paying to drive off.
I sent you a private message