Raise the bar. Encourage them to learn the math and improve. There are those that really appreciate the math and those that will ignore it. You do what you can. Focus on those that want to learn and continue to encourage those that don’t. That’s how we grow.
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OMG, YIKES!
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I hear ya but we can’t even get the majority of newbies here even attempting to use the calc…let alone understand the mechanism beneath it.
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Sorry!!!
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Yes, there is a lot of truth to that.
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OK, I can see what you are saying…using the calc in maybe a more ‘clear’ way requires putting the 1293.21 in as addition to dealer fee (I don’t see the 85 Cali dealer doc fee there either) and it will internally relegate the ‘left over’ 715.45 to the cap reduction…maybe the calc should show adjusted cap cost somewhere that it calculates/uses?
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Yeah, but now you don’t have an accurate representation of the dealer fees. The 1293.21 is not really a dealer fee and, moreover, it’s unlikely that a newbie/novice would do that. I know that I wouldn’t.
That may be so, but the CCR is really a user input. The end user needs to see it and might wonder where it is.
That’s a good idea. What we need are inputs that one would see on a well-constructed dealer worksheet. There would be an input section and an output section.
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I just put this together in excel in 10 mins based on Prof’s template. Having it in this format is much more helpful to me vs. the current LH calculator format as it mimics my real life experience. YMMV.
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This is an unusual case where the dealer is paying the OP payment…so kinda a dealer fee.
CCR tho is really calculated after seeing what is left over after rebates covering other fees in most $0 DAS scenarios.
More inputs means more complicated/explanation…I can see your way and simplified LH site architecture too!
Yeah, but dealer sheets/fields are all over the map on what is included and what is not…kudos to you to making the effort!
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That is awesome. Nice job!
Thank you! I couldn’t agree more!
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Is the rebate taxed in your state?
Agree on the fields but the more I learn, I can get the help from great LHr’s like you both to add additional fields to my excel so I’m better prepared. Baby steps and thanks again!
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But going back to other points why not just pay your last lease payment and use car over last month and then turn in assuming no equity…there is no benefit to adding to this deal.
OP, do you have any equity in it via Carmax, etc?
No idea…but really good question. I’m in CA and they didn’t have it as taxed on the dealer worksheet. It’s composed of $1500 Costco and $1500 existing Audi customer (don’t know if it’s related to my EV or not).
Incentives are taxed in CA.
No equity (all 2022 etrons are upside down) and it will be probably what I do going forward as it really simplifies things. I was hoping to be able to leverage the $3k Audi incentive which expires at the end of the month. But then was told it was only for standard leases which I found confusing….
I have the $1500 Costco incentive and then another $1500 loyalty incentive that the dealer said I had which is why I want to close by the EOM. My last payment is due 3rd week in April so it’s more FOMO than anything.
Here’s a link to the SoCal Audi offer page.
https://www.audioffers.com/southern-california/global-incentives/detail.htm?bodystyle=Sedan&model=A3
Yeah, I was afraid you would say that. But, still, would a newbie know to label it as such and include in the dealer fee field?
Thank you! You just put one in my wheelhouse. So, to help the end user, here’s a formula, which I know you’ll love, that will compute the variable upfront costs based on a given lease proposal such as the one the below…
This formula allocates a portion of the total rebate to the CCR and the remaining portion to all other upfront fees. Note that once you have the CCR, you can compute payment and sales tax. Pretty cool, huh?
EDIT: Formula assumes that tax is levied on the sum of the base payments.
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Love it! Years ago I was a Field Apps Engineer for a semiconductor disti where most salespeople hadn’t a clue about what chips do…in training them I very quickly learned to incredibly simplify things for them or they would not have learned or retained anything. Haha!
Thank you. Interesting. I assume you’re an EE. As a freshman EE student, I got stuck in circuits just b/c I already had diff eq’s and hated it. So, I switched to my first love, AE, against my dad’s wishes and never looked back.