I signed a lease deal, and wanted to share it, but the results of the Lease Calculator don’t add up for me. Anyone interested in helping me understand how this works?
But it says that the monthly payment should be $889 and I am $599.
1. MSRP of the car you want: (Window Sticker Price) $54640 2. Selling price of the car (your negotiated price of the car) $48490 on one page , $49443.44 on another 3. Gross cap cost of the car (this is the selling price + all bullshit fees taxes etc) $49860 (i think) 4. Incentives $3000 5. Money Factor (MF) listed as .07 (but I think that’s APR?) 6. Residual (in %) 47% 7. Term of your lease (months) 36 8. Mileage allotment (7.5K/10K/12K/15K…etc) 12K
Agreed, and I have said it before, we are blessed to be able to afford cars and payments like this.
You said you signed, so it’s a done deal. Someone posted a couple weeks ago, same car, and within the 1% rule. So money was left on the table. If you are happy, that is all that matters.
I leased an S4 the second week it was out. Audi is horrible to lease with and on top of it, there was no incentives and MF was high. I got down to buy rate and 9% off msrp… am I over the 1% rule? Absolutely, but I am happy and my kids say “ Papi, go faster.” That is what makes me happy!
I cannot fully explain why the numbers don’t match. In addition, there was a $1095 clear bra type of thing put on the front and mirrors, that the dealer had added to the car, but I didn’t pay for.
I did add a wheel & tire protection as well, but paid $1000 for that up front with the 1st payment.
Those two documents look like preliminary documents. Do you have the actual Motor Vehicle Lease Agreement? It should very clearly state what is due at signing.
When I input the numbers from the lease contract onto the calculator, I get the same outputs:
I used the $49,757.44 gross cap cost for the “selling price” on the calculator because there is no breakdown of the wheel coverage, government fees, doc fees, etc. This information is likely on Page 2 of that contract. There’s a $1,331 difference between the $48,426.44 selling price and the $49757.44 gross cap cost.
nicely done, I couldn’t get the calculator to match up. I guess one of the things I have wrong is the check I wrote on signing is working as a down payment. I am confused a little, as I asked for and planed to do no down payment. I had thought I had made the 1st lease payment, paid for some taxes and fees, and the wheel coverage.
I don’t have a page 2 to to the document … I find this process so much more confusing than a purchase. I just didn’t want to own this car down the road, lord knows if Alfa’s will still be on sale here in 3 years. But the wife loved the car, that’s all that mattered in the end.
