Hi everyone. Im looking at a 2024 Grand Cherokee 4xe Trailhawk CARB in Florida. I’ve got 15% off msrp before rebates of $18,900. Thing is that the worksheet from the dealer and the calculators on LH and Edmunds are different enough for concern using the exact same numbers.
Quick numbers are:
$74,810 msrp
$63,500 sale price
$18,900 rebates/ discounts
$44,600 after incentives
$31,420 42% residual for 36/12k
.00021 MF
$995 Acq + $1298 dealer fees
7.5% tax
I’m including the worksheet and calculators so hopefully someone can see what i don’t. Thanks in advance!
Using my spreadsheet I can get to the 528 base payment but only by adding 1050 to the cap (of which I already have upfront tax/doc/govt/acq in)…and I don’t see where that is documented on the screen shot…I don’t know how Florida lease taxation works tho.
Looks like they are using 6% tax on lease payment but maybe cap reduction is taxed differently?
Thanks y’all for those catches on the extra $500 they left off on the incentives and I forgot to punch in the govt fees on th LH calculator, which should be approximately $425.
This would be my fourth lease, but first in Florida and im not sure how they dividing up the cap reduction and up front costs on their spreadsheet the way it is. ?
Adding in the extra $500 discount they’re missing would bring the monthly down about $13, so I guess that would be pretty close to the LH.
Even though the Edmunds calculator seems to be the most specific with its info , its the lowest estimate by quite a bit. Any reaon it’s so far off?
Nope. The 1st month payment is covered. The 18400 rebate was split so that a portion (15772.55) was used as a CCR. The 2627.45 balance was used to cover all upfront fees including 1st payment. Bottom line: DAS = 0 followed by 35 monthly payments of 560.61 each.
The WS leaves much to be desired. There are accountability issues. For instance, dealer fees of 1298 need to be itemized. I suspect that it includes the dealer doc fee. Additionally, the 2066.84 upfront charge should be itemized but likely includes tax on the 15772.55 CCR as well as the 450 license fee. I have no idea what the capped tax of 35.88 is for.
Dealer worksheets are largely crap. Extract only the meaningful information and be sure to vet it. You may find this helpful…
That’s not the dealer worksheet, that’s the edmunds calculator. The dealer fee section shows $1298 because that’s what was typed in in the dealer fee section.
Delta, thanks for clarifying how and why they were splitting that up. It makes a little more sense now. I’ll definitely look for more itemization and clarification from them tomorrow.
Yup, I ran into the same problem. Tried a few combinations and I still couldn’t get there. Something is missing. That’s why I usually ignore dealer worksheets.
