Year: 2018 Make, Model, and Trim: Acura ILX Premium Months/Annual Mileage: 36 months/7.5k Zip Code: 60181
MSRP is $30940
Sale price $24800 + 792 aq fee. 95 title 101 doc
Residual is 50%
MF is .00056
Tax is 838.93
0 Drive Off
What am I missing here? Why is the monthly higher than it should be?
I think you need to re-assess your facts. A 792 acq fee? Doesn’t look right. Acura Financial charges a 595 acq fee. Did the dealer mark it up to 795? Or, are you using a different fund provider? How much is capitalized in the lease? Any cap reductions? Looks like you’re missing some data or, you have inaccurate info.
Best to ask the dealer for their lease worksheet and post it. It’s often difficult to assess information provided by anyone other than the dealer.
I just noticed that your lease is only 7.5k miles. $12k for 22,500 miles of an ILX is beyond dumb. $0.53/mi lease cost is way into luxury car territory. Like, REAL luxury cars.
IMO if you desperately want an ILX and cannot wait nor can consider a different vehicle (which I cannot fathom), just buy a used one. They are dirt cheap and rock solid. I mean, they’re 9th gen Civics, so not much can really go wrong.
You can buy this one for just slightly more total cost than that lease and lower monthly payments on a 60mo:
My calculated numbers exactly match all of yours (except 532.93 should be 523.93) assuming your sales tax rate is 7.6615% which is an odd ball rate. Is that your sales tax rate? Apparently, this is an Illinois lease and Illinois computes sales tax on the total base payments. Your basement payment is 304.17, not 327.93. Assuming the tax rate is 7.6615%, your tax is computed as follows…
36 x 304.17 x 0.076615 = 838.94 (close enough)
Also, you said…
“The payment is for 0 drive off.”
This can’t be true. Your amount due at start is 523.93 = 327.93 + 95 + 101
I’m in Florida (high dealer fees and other fees) and in September was quoted 3582 DAS 169+tax a month. It equals out to $268.50 a month. Now that 2019s are here I’ve seen ads for $130 a month with even less down they can’t give the 2018s away. I didn’t go with the car because insurance was 600 more a year compared to all the other cars I looked at. If you haven’t got an insurance quote yet, I suggest doing so.