Not over, just under. WE got certificate to waive 4 payments on old car and no disposition fee
How do you get those numbers, please advise
(DAS - MSDs) divided by 35, added to your quoted monthly.
Who is the certificate from, Lexus financial or the dealership?
Well, your tax is wrong for one thing. Sale price of vehicle gets taxed 7.025% thanks to lux surcharge.
NJ Tax is 6.625, you sure about a 7.025% (where is that coming from?)
The cert is from Lexus, will post shortly
What is DAS???
The numbers came from the sales manager
Nj tax is 6.625 until the vehicle is over either $40 or 50k, and then there’s an additional .4% luxury tax added
If you don’t know what DAS is, I suggest you read leasing 101. Or just hire a broker.
Thanks for your PROFESSIONAL answer, assistance and contribution to these discussions. It’s always nice to see others willing to help others. How else do we learn? It’s about saving money dude. It’s not about getting ripped off by snakes. Once again, thanks for your assistance.
I guess I’m DUM AS Sxxx (DUE AT SIGNING)
Are you saying sign and drive?
And re: luxury tax:
NJ. Details reveal that NJ has a surcharge of 0.4% of the sold price for vehicles priced above $45000 and with a EPA rating (fuel economy) of less than 19 MPG.
The Lexus Hybrid gets 31/28 MPG 
NO, not sign and drive, 7 Multiple Security Deposits (MSD’s)
$7,573.50 drive off (inclusive of the 7 MSD’s)
55% residual
0.0006 MF (goes to .0004 w/ 7 MSD’s)
36mo/15k mi year lease
$524 mo. payment for 36 mo.
He’s saying an equivalent $0 das (excluding MSDs) would be $633/ mo. Comparing monthlies with wildly different das amounts is pointless.
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Have you got a buy out quote from carvana to verify there isn’t any equity in the trade in?
It’s 0.4% of the gross selling price before rebates.
Not to be confused with the 6.625% on the totality of the payments.
No one should think these can be added together to make a 7.025% tax rate. You have to calculate each tax separately
That’s a good one, coming from Lexus financial so you can go to any dealership.
Correct. This is what I meant.
Well, it technically is 7.025%, as long as you apply it to the proper portion. And the reason I never tell people “totality of the payments” is because they tend to think it applies to the monthly payment, which is incorrect. But, to your point, the 7.025 does not apply to everything. As @Avus115 in another discussion recently posted, “If you use the leasehackr calculator, run the NJ lease at 6.625% upfront, take your sale price from up top, multiple by .004, and add that to the DMV line at the bottom of the calc.”
Their incorrect grammar is not going to help, unfortunately. They meant to write “or,” and will tax you as such.