What seems strange is the use of an MF. Ford Motor Credit uses an interest rate, not a MF. Are you using a different fund provider? Also, in order to get a payment of 894.79, the adjusted cap would have to be 61115.34 which is astronomically high. I can’t even imagine how they got that. There is nothing due at signing. So, the 1st payment and all fees are capped. Even so, the adjusted cap is only 56780.05… a far cry from 61115.34.
VA taxes the sell price. So,
4.15% x 58500 = 2427.75. Yet, the tax is 2452.63. This means that there are taxable fees of 599.52. From what is listed, I can’t get to 599.52 and so, I have no idea where it is coming from.
Bottom line, this is a garbage deal and the quote leaves much to be desired. My advice is stop chasing after the dealer.
For what it’s worth…
Don’t waste time trying to decipher a dealer’s worksheet. Otherwise, you’re allowing them to control the deal. They often omit a lot of relevant detail such as the money factor/interest rate; don’t itemize fees and occasionally make mistakes. Rely on credible outside sources (e.g., LH marketplace and LH signed deals and tips, Edmunds, etc.).
Yes, dealer worksheet input data can be useful. However, all dealer-provided data must be vetted such as acquisition fee, doc fee (regulated by some states), cost of money (e.g., money factor, gov fees, residual, rebates, sales tax rate, etc.). Make sure the residual matches the term and annual mileage requirement. Check available tax credits/incentives via the dealer who may issue tax credits or assess a lower sales tax rate to energize sales for some models (e.g., Texas).
Research selling prices in your market coupled with reasonable expectations. Sometimes, dealers embed rebates in their discount. Keep them separate. Get a list of customer rebates, incentives, and credits including VIN-specific discounts, if any. The dealer has such a list. GM calls their list the Customer Incentive Acknowledgement form which includes manufacturer rebate and incentive disclosures. Restrictions may apply to the extent that some rebates may not be disclosed such as college grad, military, educators, AMEX, Costco, etc.
Secure a copy of the factory window sticker. Check for non-factory add-ons or dealer-installed options. If possible, eliminate those you don’t want or need.
Organize all researched and vetted data with the goal of creating a one-page professional-looking lease proposal that reflects your target deal. The idea is to create your own deal, not replicate or reverse engineer the dealer’s deal.
