I need help understanding this lease term I am new to this site. Specially FEG and BEG? Is this a good deal? This is for 2020 MDX with Tech package 36/12.
The calculation from my understanding is this:
MSRP: $50,395
Selling price: $40,395
Cap Cost: $1432.74 (not sure what the breakdown of this)
RV: 59%
Cost with cap: $41.827.74
$41,827.74 - $29,733.05 = $12,094.69 / 36 = $335.96 per month
Taxes for Texas which requires the full car value 6.25% x $41,827.74 = 2,614.23 / 36 = $72.62
$335.96 + $72.62 = $408.58
Did i more or less calculate that correctly?
Are there hidden fees for the extra $60?
Thank you in advance for the help!
Smarter people than me can offer more insight, but not sure that price includes tax. Line 19 is blank.
Not sure what line 17 is adding. Some dealer extras or the initial fees added to price?
Also, your quick math is excluding the money factor which may explain the “missing” $60.
I have your info pretty close on the calculator.
Calc Link
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I have not seen that MF of 0.00185 on any 2019 / 2020 MDX models. I just re-checked Edmunds and 0.00215 seems to be the MF which is being quoted to date.
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This looks good.
yeah on edmunds i got .00215 for MF too so i’m a bit confused.
You have to use the calculator or read the article on calculating by hand
One pay in Texas drops sales tax from 6.25% to around 1%, quite a substantial amount on a 40 k car, also drops money factor by 30 basis points, definitely worth looking into,
@brad1219 Do you have more info about this? Is this something exclusively for one-pay lease or just normal tax credit from dealers?
One pay leases qualify for this IIRC. Tax credits would apply on a non one pay lease.
Edit: Ofcourse tax credits vary by dealer and models each month here in TX. Someone correct me if I’m wrong but all dealers across all models should be able to do one pay lease with 1% tax.
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I’d really like to know more about this if anyone knows, I’m looking at doing a single pay lease in the few weeks.
The only references to this 1% tax I can find are either tax credits or the finance company paying the tax for you because they don’t offer any MF rate cut. Which is cool, it’s really the least they can do if they’re gonna charge you full interest when you’re handing them a bunch of cash. But a rate cut might be more valuable depending on the deal, like if you’re doing a trade in for the tax credit.
that $468 is the final price per month with fees/taxes included. he essentially used tax rebate to void all taxes.
You should ask the dealer, I just leased a BMW X1 s drive, 36/12, MSRP 40,500, for a one pay lease of $11,658, roughly 325 effective, from bmw of Dallas,saved over $2000 on tax alone, plus lower Money factor. One pays include all fees, bank fee, dmv, dealer fees, etc. I tried to get an explanation on rational, and it had something to do with sales tax rebate that dealer received, couldn’t really get a straight answer, but at those numbers, I couldn’t care less. Also will get bmw cc rebate of $500 on top of it, lowering effective to around 310/ month, I hope deal is around in 3 years!
And yes, lowered tax percentage applies to just one pay leases( from every source I have contacted)