MD dealer , MD taxes.
Submitted 300/m offer to 10 dealers. Only 2 provided a deal sheet with numbers that were close. First dealer wouldnt budge a little above 350. Second dealer agreed to revise their monthly to 329 from 349. Smooth pickup.
56150 msrp
49975 sale price
20k in rebates
7.5 ev, 5.5 captive, 3.5 conquest, and 3.5 additional that wasnt specified. On the contract it shows 14.5 in rebates and 5.5 in dealer contributions.
complete newbie here to this forum / leasing. I’m sure there is a section that probably answers my questions, but have not found anything to make sure I’m understanding 100%. Can you help me make sure I’m understanding these deals. I want to know total cost if purchasing the vehicle after the lease. I have been adding up total lease payments + residual value. So your total cost if you purchase after lease (ignoring any fees to purchase) would be 36 mo * 329 = 11,844 + residual value of 26,390 = 38,234. The $20K of rebates are subtracted from the selling price of ($49,975) to set the capitalized cost ($29,975) , which the captilized cost is used to calculate the lease payments.
At the end of your lease, you’ll pay the residual value plus any fees to purchase the vehicle, so your total cost would be the sum of your lease payments during those 36 months, as well as the residual value+fees.
Probably a decent monthly with the way MD calculates sales taxes on leases.