I actually did not try to manipulate the numbers, but to interpret the contract as it shows:
MSRP and RV% is just to determine the actual residual value, in my calculator the RV is aligned with the contract number, which is $39680. RV% is fixed as 64%, so the only variable is MSRP.
For the selling price, I added the acq fee, dealer fee, reg fee to it as the cap cost. The reason behind this is that if I input acq fee, dealer fee to their own fields, LH calculator won’t add the rent charge on them. I had the same issue before when comparing my actual contract with the LH calculator.
$7500 breaks down to cap cost reduction, title fee, first monthly payment. I’m not sure whether it’s ok for the dealer to use the rebates as such but this is what shows in the contract.
The actual contract shows the monthly payment is $537, which is made up of $14501/36=402 + $4865/36 = 135. My LH calculator shows $535 as $400 deprecation + $135 rent charge.
Are you saying my contract interpretation is wrong, or the way dealer constructed the contract is wrong?
Updates:
I think I made a mistake on the taxes incentives. Given the total tax is $2101, this should be calculated as the total of payments * tax rate. So the $6513 cap cost should be considered as taxable. Here is updated calculator:
The difference between 7500-6513 is used as title fee and the first monthly payment. Thus the actual das is 0 and there are 35 remaining payments at $535
What I can see is that to make the contract numbers match the LH calculator you have changed the msrp and selling price.
But what would happen considering the agreed upon values for both. The lease payment should be a lot less than given on the contract.
$7500 incentives are taxed. Your $2101 tax is calculated by the total payments * tax rate, your total of payments shows $26724, which means the incentives are taxed.
Gov fee $449, not $400. Dealer fee $599, not 500.
You also missed the $259 license fee.
If the residual value on your contract is correct, then your MRSP is no where near what you have input in the calculator. $39680/0.64=$62000. If you have any questions about this number, you will need to talk to your dealer to make sure this residual number is correct. MSRP won’t be used in the contract, only selling price and residual value matter.
Ok, here is how I simplified your calc.
They state what your cap cost is after the $987 is taken from the rebate. So, taking the cap cost plus 987 minus RV minus the 2100 tax, I come up with $2144 in fees. I simply added 2144 to the dealer fees and zeroed out all else. I know this messes with tax slightly, but it is far less discrepancy than not capping the fees. Oh and I set it to 36/12 since that is what 63% applies to.
Picking up my new 4xe at Chapman tomorrow at 11. Will anyone else be there?? For those who have picked up how long were you there? Did they show you all around the jeep and help you connect your phone to apple play? Was your Jeep charged?
Got an update from Mike at MoG today. My jeep is built, awaiting final inspection, and awaiting assignment of a rail car. He said it may be a long wait for rail car assignment. Fingers crossed it won’t be too long.