Hello, can anyone make sense of this? I’m not able to get the numbers to match up using the leasehackr calculator. The $1498 add-on is for lease protection and $9100 is for max MSDs. Having a hard time figuring out how the $2000 rebate is being used. Any help would be greatly appreciated. Thanks!
(Zip code is 95014).
Post your best attempt at the calc…also have you priced out your trade at Carmax, etc.? Have you looked at broker deals in Marketplace?
Rebate is being used for cap cost reduction. You are providing $12100 DAS. The $3000 is being used to cover inceptions with balance applied as cap cost reduction. Total cap cost is sum of rebate and what is left of your down payment.
It is used as a cap reduction (CCR). The 3000 cash is allocated between a 346.91 CCR and, what they claim, lease inception fees of 2653.09. Total CCR is 2346.91. However, your lease inception fees should be as follows pending tax treatment on certain fees…
1st pay… 1262.83
7 MSD’s… 9100.00
CCR- Cash… 346.91
CCR Cash Tax @9.125%. 31.66
CCR- Rebate Tax… 182.50
LTR… 639.00
EFF… 35.00 (taxable in CA?)
Doc Fee… 85.00
Doc Fee Tax… 7.76
Tire Fee… 7.00 (taxable in CA?)
Smog/Weight… 174.00 (taxable in CA?)
TOTAL… 11871.66
Cus. Cash Credit… 2653.09
DAS… 9218.57 … depending upon taxes.
Worse case… add 19.71 for taxes for the fees in question. This is why it is pointless to attempt to verify the dealer’s worksheet numbers… . they often make mistakes and often omit info.
You may find this helpful…
Building a Motor Vehicle Lease- Data Collection and Calculations.pdf (403.6 KB)
I have no idea how they arrive at inception fees = 2653.09 or 295.86 tax. I don’t believe LTR fees are taxable in CA. The 346.91 CCR is a calculated number that I can’t confirm as I don’t know the tax treatment given certain fees in CA. Pretending that the 346.91 CCR is accurate, then the dealer calculated monthly payment is accurate.
I assume that the dealer is writing you a check for the 27595 trade.
EDIT: Not sure why you’re paying 3000 out-of-pocket. There is no need for this… if the car is stolen or totaled, you risk losing some or all of it. A car is a depreciating asset, not an investment.
Are you getting a check for the trade?