I’m not sure why, but the calculator and my hand (Excel) calculations seem to be pretty far off on this lease deal I’m trying to work up. Only thing I could figure (it’s not exact, but pretty close) is that the calculator may be double-dipping on the acquisition fee.
Either that, or I’m doing something wrong in my hand calcs…
The calculator shows a total lease payment of 8276, but I calculate this as 7635.
Sale price - residual = gross cap cost = 17340
Less Cap reduction of 10500 (taxed incentives) = adj. cap of 6850
Adj. Cap / 36 months = 190 dep. charge
Adj. Cap Cost + RV = 35078 * MF = 22.09 Monthly rent charge
Monthly lease payment = 190 + 22.10 = 212.09
Total lease payment = 212.09 * 36 = 7635.
The only way I can get close to that total lease payment figure is if I roll the acquisition fee into the cap cost. BUT, if that’s what the calculator is doing, then it’s double-dipping because it also lists the ACQ fee as part of the total up-front fees in the DAS breakdown.
