Hi,
I have a lease quote from a Lexus dealer:
MSRP: $57,505
Discount: $5,000
Lease Cash: $1,500
Term: 36, 10K
MF: 0.0009
Residual: 58%
One month lease free.
They are quoting a $630 monthly payment (before tax)
The problem I’m having is that I can’t figure out how the $1,500 lease cash factors into the quote. I don’t see it as a cap cost reduction. The dealer said that it’s automatically applied as a down payment.
Having an effective $6,500 discount off MSRP with MF of 0.0009 and 58% RV should get me to about $589 per month not $630. Am I missing something here?
101010
Right, I see it in the quote, but the math doesn’t make sense to me. If I use the Leasehackr calculator, I get $589
Because it’s likely wrong. Incentives are taxed and you seem to have no fees or taxes input.
If you post a link to your calculator rather than a picture, it is much easier for us to help.
Also, your DAS amount doesn’t match
Thanks @mllcb42 I think it’s the DAS. It looks like they are applying the $1500 discount to the price at delivery so that it’s $0 at drive off.
Still can’t get the calculation to match exactly but it’s much closer now.
Calculator
It’s basically there
So is that your question? Dealership isn’t marking anything up on the back. You could apply MSDs to lower the rate further (I would). Or if this is what you have your heart set on then sign and drive.