Thanks @Jon. I’ll try to figure out both of those tonight.
Something else interesting… I’ve been working on a Bolt EV deal on the side. The dealer sent me the numbers today, so I input them into my spreadsheet. Here are the results:
My numbers are exactly the same as the dealer’s, but the LH calc is different by quite a lot. I could have made a really obvious mistake on the LH calc, but I just can’t see it right now.
Zero Drive-Off = FALSE:
My spreadsheet: $125.57 Post-Tax Monthly
Dealer sheet: $125.57 Post-Tax Monthly
LH Calculator: $126 Post-Tax Monthly
All of our numbers are the same, which is pretty cool.
Here are the dealer’s numbers and my numbers for zero drive-off, if anyone’s interested…
Why are you plugging $993 in gov fees into the LH calculator? I see that amount listed as an “amount applied upfront” on the dealer sheet, but that isn’t a gov fee.
Agree with @mllcb42. You need to get a breakdown of the upfront charges so you can enter it into the LH calculator correctly. The dealer’s worksheet shows the $10250 incentive applied towards the upfront charges and 1st month payment ($818.71 + $174.99 = $993.70) and applied the balance as a CCR ($9256.30).
You will never get this calculator to match exactly what the dealer produces on his PC. By the way the hackr calculator is maybe the best out there. BUT, the dealer software is the only one that counts. You can get closer by fudging some of the figures.
Here is a link to what I posted in Jan. Have the finance guy turn his PC screen so you can see what he enters. Take all the time you need to understand the math. After all it’s your money, not his. Remember the actual lease contract never shows all the math details. Calculations behind the Lease Calculator
Don’t think my reply posted. So here it is again. This link is what I posted in Jan.
Take your time and understand the math. It’s your money. So fudge the hackr calculator to get the figures to work for you. The hackr calculator is probably the best on line. But the dealer PC software is the only one that counts and the actual lease will not show all the figures that are used to get to your mtly payment.
Thanks @desal. I’ll take some time to look over your paper to better understand.
What’s interesting, my spreadsheet matches the dealer’s numbers perfectly to the nearest cent. And not just the final numbers, but all of the subtotals match their numbers perfectly too.
I was very surprised, but it also helped give me confidence that they’re not hiding anything. I won’t know that for sure until the ink is dry, but they’ve been impossibly friendly and accommodating so far.
Building my own calculator has so far been pretty easy from a technical standpoint, but I’ve hit a hurdle, which is calculating the first month’s payment and capitalizing it before I even know the first month’s payment. In a spreadsheet, that would be a circular reference, so I think I have to get my hands dirty and use more advanced algebra.
FWIW, I’m enjoying building this calculator more than getting an amazing lease deal.
@todsul One other “hurdle” I didn’t mention. With a Mercedes lease - line 25 you will see “security deposit”. This shows on the hackr calculator as Multiple Security Deposit (MSD). Not all manufactures allow for a returnable deposit but it reduces the MF. What I did was on my first trade in, took that money and used it as a deposit which I roll over every 3 yrs. Have fun if you want to add it to your calculator. As I understand it dealers are not forthcoming in disclosing it’s availability. Not sure if non-manufacture finance companies offer MSD.
Yeah, you’re right. The calculation is pretty darn complicated too. Finally worked it out for anyone interested.
Given these variables:
a = MSRP
b = Residual %
c = Sale Price
d = Acquisition Fees
e = Dealer Fees
f = Taxed Incentives
g = Govt Fees
h = Number of Months
i = Money Factor
j = Sales Tax %
…you can calculate monthly post-tax payment, WITH the first payment capitalized, using this short equation:
Crazy thing is, it actually works. I get the exact monthly payment from the Dealer’s sheet. Of course not suggesting anyone do this, but wanted to see if there was a way to get the same numbers as the dealer. It’s finally all working and it looks like my $134/month post-rebate Bolt is happening!
haha, luckily Chevy doesn’t seem to allow that. Looks like I’ll have to lease a Merc after this Bolt to keep the fun going. Maybe an E63S wagon… winter’s coming and it’s the perfect ski car. This calculator hobby is getting expensive.
Hey guys,
This is the MB lease I am trying to figure out using the calculators.
What does we owe : $399 do? Thank you for your help.
I am assuming the cash cap reduction is some random charges that they put and capped fees is dealer+gov etc fees.
Your spreadsheet is pretty accurate to LH calculator when I uncheck “Pay acquisition fee upfront” Also, If you could add a formula behind Discount %, it would be even better
