I asked for their best offer on a Grand Highlander for both finance and lease ($0 cash down other than first month payment). Finance assumed a 4.99% rate. I also told them to assume “Very Well Qualified.” What you see below is their BEST offer.
Just got an updated text from the Sales Professional advising she made a mistake on the lease numbers. I’ve attached the updated sheet she sent me below. This assumes a residual value of $32,927 and a MF of .0042.
Youll need to look through the broker listing and shared deals to establish a target pre-incentive discount then plug that in with the lease programs as they apply to you into the calculator.
Look at the MF and calculate apr for lease by multiplying it to 2400. This roughly comes out to 10%.
Residual of $32,900 gives about 59% residual value.
Your payments, technically, should only cover that amount of msrp - residual, about 23k in your case. Calculate interest over 3 years at the apr and throw in taxes to get the total sum.
This deal at 0 down (assuming no drive off) is forking about 39k out of your pocket in 3 years so you are basically paying over 70% of msrp in 3 years if you lease (terrible).