Unfortunately, got dragged into helping out a family member into leasing one of these appliances. Plan is likely to buy the car out in a few months. I’m trying to figure out how the dealer got these numbers based on #s I found online. To be frank, I’m probably just using the calculator wrong.
MSRP 46978
10k/36 month
57% RV
6500 lease cash
500$ discount
TTL ~750
3k down (inclusive of first month payment, for CC manufactured spend)
what you forgot to put into the calculator was the $1998 in additional Toyota Blessings on the vehicle
Easiest thing for dealer to do is mark up the MF…
0.00405 in this case matches the 625
Yeah unless someone else has any thoughts I’m suspecting the dealer marked up the MF to 0.004. Pretty sneaky! I suppose this has no bearing if family buys out the car right away?
Only for the time period before TFS receives and processes payoff. Be aware your dealer will not be happy with early payoff as they won’t get funding kickback since paid off too quick…you may/may not care.
USA nationwide is a fun state. Make the tags Toyota and the state you’re in so this isn’t useless
Yup, they are using a 0.00405 MF. Where did the 6500 and 2375 cap reductions come from? Is 2375 out of pocket? Is the 6500 a Toyota/Costco incentive? I see you have a 0% tax rate. Where did tax of 232.39 come from?
It seems to me that you’re allowing the dealer to control the deal. Bad idea. Do the research (sell price, MF, Residual factor… check Edmunds). Then, craft your own lease proposal like the one below which is only an EXAMPLE constructed by me…
Model Lease Proposal.pdf (353.2 KB)
6500 is Toyota passing along the EV rebate
$3000 for credit card manufactured spending - first payment 625 = $2375
“Tax” is actually 0.5% or something like that; like Texas, I believe the lease is taxed on the full amount of the vehicle.
I knew what the numbers are supposed to be .00315 and 57% - was just wondering if I was missing something in using the calculator because the payments were off
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