Can’t say for sure. You need to check selling prices in your local market. A good place to start is LH marketplace and signed deals and tips. I would get rid of the optional stuff that you don’t need or want. What is the 60 rental fee? Never heard of that before. What is the 48.62 tax for? Don’t see where that would be applicable as you are capitalizing all fees. As such, all fees are taxed, even the non-taxable fees like gov fees/taxes. This occurs because tax is levied on the payment and the fees go along for the ride as they are included in the payment. I would challenge the tax.
I manually confirmed your LH calculations. The payment is 538.12 including tax using an MF = .00177. Using an MF = .00277 yields za payment of 575.27 including tax, not 595 which probably does not include tax. Any way you cut it, the 595 is inaccurate unless there is information that the dealer did not disclose.
For what it’s worth…
Don’t waste time trying to decipher a dealer’s worksheet or chasing after them. Otherwise, you’re allowing them to control the deal. They often omit a lot of relevant detail such as money factor, monthly base payment, monthly contractual payment, fees not itemized and even make mistakes. You need to rely on credible outside sources (e.g., LH marketplace and signed deals, Edmunds, etc.). Do your own research and establish a reasonable selling price in your market. Be sure to get a copy of the factory window sticker. Check for non-factory add-ons or dealer-installed options. And, if possible, eliminate those you don’t need or want. Get a list of all customer and dealer rebates/incentives including VIN#-specific discounts/incentives, if any. And, yes, the dealer has such a list.
The only thing useful about dealer lease worksheets is the input data. All data should be vetted such as acquisition fee, doc fee (regulated by some states), cost of money (e.g., money factor), gov fees, residual, rebates/incentives, sales tax rate, etc. Make sure the residual matches the term and annual mileage requirement. Check available tax credits/incentives via the fund provider who may cover taxes or, at minimum, may assess a lower sales tax rate to energize sales for some models.
You may want to craft a lease proposal (example below) and email it to the sales manager (SM), not a floor salesperson as they’re often order takers and lack knowledge.
All numbers should be accurate otherwise, you’ll lose credibility. Negotiate via phone/email. Once an agreement is reached, ask the dealer for a review copy of the lease agreement and all contract addenda BEFORE you go to the dealer and sign. Moreover, it’s helpful to know the terms and conditions of the lease contract such as early termination liability criteria and purchase option criteria as well as lease amortization methodology and excess wear/tear criteria. If all is as agreed, tell the SM that you’ll come in to sign right away. You don’t want any surprises or dealer excuses like …. Oh, we made a mistake. That’s unacceptable and shouldn’t be tolerated.
If the dealer isn’t transparent or is uncooperative or showing signs of incompetence, WALK AWAY AND MOVE ON!
Leasing is time-consuming and requires a good deal of study and attention to detail. If you don’t have the time to commit, perhaps your best alternative is a good broker. There are some outstanding brokers on this website. However, if you’re willing to commit your time and resources, always control the deal. That can only be achieved with education which breeds confidence and increases the likelihood of success.
??? Let me know.
