DAS $199 admin fee, first month payment and license fee of approximately $65.
Dealer quoting a payment of $529.92/mo incl 6.5% sales tax on payment
Leasehackr Calculator comes up with $466/mo incl 6.5% sales tax on payment
I’ve asked them for a deal sheet with everything broken out, but what am I missing here? What do I need to look out for on the deal sheet? I’ve read 101 and been lurking and reading for a few days, but this one has me boggled.
Also, I know leasing a hybrid isn’t usually ideal, but I’ll be on a FAVR program through my company and get a mileage allowance of $.17/mi variable depending on gas prices in the region. I’m thinking I can make up some money this way on the Hybrid, but open to criticism and advice in that regard.
I asked about any other fees and they came back with “there are no other fees other than the $199 admin fee, and $65 for licensing (plus 1st mos payment)“. In writing in an email.
Any car that has an MSRP of $33,120 or higher. Really like the look and features of the RAV4 XSE, but exploring Outback Limited and Jeep Cherokee High Altitude and Trailhawk trims as well.
Maybe I am completely wrong about this, but that $0.17 is supposed to cover gas, depreciation (I understand its a lease but I am generalizing here), and other wear-and-tear expenses? If this is a car that requires a lot of miles for business use, any mile overage costs would be much higher than that rate.
I know the RAV4 Hybrid is a great car, but for that price I am sure that there are better cars that are a bit easier on the mileage. Did you get any quotes on the Subaru or the Jeeps? From other people on the forum, it does not seem like the Subaru’s have very good programs, but you never know.
I also get a fixed amount each month that is supposed to cover depreciation and insurance. The .17 mile rate is for wear and tear and maintenance. I average about 10-12k miles per year.
I do have a couple of price quotes on the Jeep Cherokee and Outbacks but no lease deal sheets back yet.
Okay that seems a lot more reasonable. I think the gas RAV4 might be the better option, since you are going to get some more features for the price in lieu of a hybrid system.
Also, the hybrids have little to no discount on them (a Toyota dealer told me he has sold several for sticker or $500 off sticker). The gasoline ones I know have several thousands off.
Right. I do have a price negotiated on a RAV4 XLE Premium AWD at $31,197 with the XLE Weather Package. Waiting on a lease worksheet from them also, but figured for a couple grand more I could get into a hybrid and maybe make up some on the backend with the mileage allowance. At the Leashackr calculated price of $466 it’s in my budget, but the $520 the dealer quoted me makes me feel like I’m being f-ed so that’s why I was asking. Appreciate the responses and any other suggestions!
Finally got the lease worksheet and I still can’t figure out their math. Doing it by hand, I come up with what should be $324.42 for depreciation, $128.40 for monthly finance charge (based on orig quote of .00224 MF), and sales tax of $29.21 based on my local rate of 6.45%. They’ve said they can’t change the sales tax on here until they verify my address, and they’re now charging a MF of .00252. What am I not seeing in their calculation so I can call BS on it. Or is it correct, and I just don’t know how to do math
I always kinda think any payment over $500 on $30k-ish vehicles are just better to finance surely? Especially this vehicle which will retain the value and be super easy to sell off later.
@joeblogs I get that, but the math is off here and I can’t figure out where I’m getting hosed; hence my asking for help. I understand that hybrids traditionally don’t make sense to lease because of the ROI on the higher cost vs the fuel savings.
