Not according to your contract. It is $25260
Ohh okā¦ with $25260ā¦ I am getting monthly payment as $367.
Also, Tax is 0% Not 1.25%ā¦ rite?
Acquisition - $695
Dealer fees - $150
Title, registration - $203
Total (section 14) - 1048
Why would the tax be 0%?
Well, ok, the contract doesnāt seem to itemize tax anywhere. Thatās very odd.
$367 is what the calculator seems to output with zero drive off. Youāre not doing a $0 drive off. You did first monthās DAS.
I agree that the contract says no tax. Iāve never seen a texas tax credit take it down to 0% tax though. Perhaps one of the texas folks can chime in. @derekoh1991 @IAC Does the remaining tax get billed separately like person property tax in other states?
Yup! Nor meā¦ the lowest I have seen is 1%
The only way I am getting to $359 is when RV is 58.8% and tax is 0%
Contract clearly states the RV. It outputs $358/mo with $358 DAS with all the contract info (58% RV) and 0% tax (which I still find very odd, perhaps a dealer error in processing the tax credits?)
Looks like maybe they rolled the tax amount into the higher selling price, which would be what gets you from $36624 where you thought you were to the contract $37076. Thatās just about spot on for a 1.25% difference. Weird.
Got it! Now it makes sense why the SP in contract(~37k) is higher than the deal sheet(~36k)
Maybe, higher the SP/gross capitalized costā¦ better for the dealership!!
Thanks a lot in getting to the correct numbersā¦ I have updated the post accordingly
Sales Tax should be on #14 under āEstimated Official Fees and Taxes.ā
RV at 58.8 is not possible. I can even show you the USBank residual.
Itās 60% at 36 months and 58% on 39 months.
Maybe not actually through us bank?
It looks like the USBank contract
What does it say on #14?
I have added the contract details in above messages
#14 is $1048 which is just acquisition fees, govt fees and doc fessā¦ tax is N/A(0%)
RV is 58%ā¦ @mllcb42 corrected itā¦ refer the post description, it has up-do-date informationā¦
Itās 36 months contract with RV 58%.
Initially they pushed for 39 months but I was firm on 36/15 $0 down
Itās the dealer discount coupled with aggressive MF & tax credit by the bank which made this deal happenā¦
So with a bit further review of the US Bank programs, I see the issue.
58% makes no sense because the programs listed state the RV should be 60%, but with a $42100 MRM.
Well, 60% of $42100 (the actual program) just happens to be the same as 58% of $43590 (what I had calculated).
That resolves the us bank weirdness. Doesnāt solve the tax issue though, which still makes no sense and could be cause for the contract not to fund.
How do you sell your vehicles? The amount listed on the right bottom corner(distributor suggested price or manufacturer suggested priceā¦ you advertise based of distributor suggested price as MSRP!!
Can you show me one listing from your website where MSRP on the webpage is same as MSRP on the window sticker(without dealer additions - distributor suggested price)ā¦
RV for XSE is 60% not for XLEās as today evening I closed 2 XSEās for my friends where RV is 60%!
The deal is a clean dealā¦ I just need to follow-up with finance manger on how they managed 0% tax
I have no clue what youāre ranting about.
I donāt sell any vehicles. Iām not a car dealer. I was clarifying the confusion regarding the 58% RV which is not supported by the current us bank programs for a 36 month lease on a fwd xle. The contract appears to show 58% of the msrp value, which would be a problem as thatās not the program. What it actually is showing is 60% of the $42100 MRM set by the bank. Happens to be the same dollar value. I incorrectly assumed earlier that the RV was being based off the msrp. Some banks set an MRM, which is the case here.
If anything, that clarification supports the deal being ācleanā more so than having a RV not supported by the programs listed.
As for the tax, that still doesnāt make sense to me.
Bet that XSE has MRM cap too, but the cap is within 45,800. So they are fine there