Accuracy of the calculator compared to dealerships…

Ask the Hackrs
1

Good Morning Hackrs!

A little bit of background, I am in the market to trade in my wife’s current Kia lease for a new Kia lease. She currently has 8 months left on her Kia but it has a significant amount of equity that we are trying to use to combat market adjustment.

I went to edmunds found the current MF, and residual.

I spoke to a dealership who even confirmed the numbers that I obtained. I put in the selling MSRP of 33335 and the selling price of 35835, including 2500 markup. I make sure we were both using the same values all the way down. His payment is roughly 60$ per month higher. We both included the accurate tax rate. And I confirmed 0$ out of pocket drive off, just the equity that we agreed upon ($4,000).

Where are they adding the fluff??? I know the accuracy of the calculator is spot on when used correctly. Where can they be added the extra monthly payment?

My calculator

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You have no dealer fees or gov fees listes in your calculator. That wont account for $60/mo, but its definitely a chunk of it.

Youre also assuming they arent marking up the mf or adding any other add ons.

More importantly, however, is youre talking about a $620+/mo lease on a $33k vehicle. This is something to purchase, not lease.

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Very good catch, that you for the assistance.

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I believe it would make sense to keep the current lease until the end, and then get a new vehicle. Although the used car market may go down, so should the new car market, and you would have been able to keep your (hopefully) low payments on your current lease for an additional 8 months.

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