Hi, can someone please help me with the lease calculator? I’m looking to lease a 2022 Kia Forte GT-Line and the dealership quoted me my monthly payment with taxes and fees being between $258.17 per month. However, when I input all the numbers in the lease hackr calculator, I come up with a payment of $205/month which includes all the taxes and fees. That’s a $53.17 per month discrepancy between what the dealership quoted me and what lease hackr calculator is suggesting. Here are the numbers below if someone can be so kind as to help a newbie fella out. 2022 Kia Forte GT-Line Residual Value (RV): 64%.
Money Factor: .00217 (I was approved for tier 1 credit through Kia Motor Finance)
MSRP: $22,640
Kia Lease Cash: $250
Down payment: $4,000 with total due at signing $5,473 (as I am paying acquisition fee, documentation fee, CVR, title, plate, registration, taxes, and first month)
Fees:
Acquisition fee: $650
Documentation fee: $230
CVR fee: $24
Title, Plate transfer, Registration fee: $30
Zip code: 48310
…
Here is how the dealership has the numbers broken down to how they got $258.17 per month
GROSS CAPITALIZED COST
-Base price: $23,640
-Acquisition fee: $650
-Documentation fee: $230
-CVR fee: $24
-Subtotal: $24,544.00
CAPITALIZED COST REDUCTION
-Cash: $ -4,902.66
-Rebates: $ -250.00
-Subtotal: $5,152.66
TOTAL OF BASE PAYMENTS
-Depreciation: $4,901.74
-Rent Charge: $3,866.49
-Subtotal: $8,768.23
MONTHLY PAYMENT PLUS TAX
-Lease term: 36 months
-Number of Lease Payments: 36
-Base Monthly Payment: $243.56
-Sales/Use Tax: $14.61
-Subtotal: $258.17
CASH DUE AT SIGNING
-Capitalized Cost Reduction: $5,152.66
-Capitalized Cost Reduction Tax: $309.17
-Title Fee: $15.00
-Plate transfer fee: $10.00
-Registration fee: $5.00
-First Monthly Payment: $258.17
-Rebates Applied: - $250.00
-Subtotal: $5,500.00