Hello! I received an initial offer that I would like to double-check!
(In order as on the sheet)
MSRP: $35,565
Sale Price: $32,400
Acq. Fee: $700
DMV + Dealer Fees : $273
1st payment: $369
Gross Cap: $33,742
** Sum of preceding (4) items
Net Cap: $33,742
** No trade-in, no MSD, no cash up front
Resid: 58%
** 12K/yr
MF: .00003
Tax: 6% (PA)
Term: 39 mos
This was a feasibility conversation on my part, so there is no trade-in and no cash for cap cost reduction in this yet (there would be a trade-in, but no cash).
As it was put to me, the only inception expense I would be paying out of pocket is the first month’s payment, at ~$369.
So, I came up with this math to make it all jibe…
(sale price) + (all fees) + (1st mo.) = (gross cap)
($32,400) + ($973) + ($369) = ($33,742)
To make this work in the Leasehackr Calculator…
MSRP: $35,565
Sales Price: $33,373
Taxed Incentives: $0
Untaxed Incentives: $0
Down Payment: $0
Post-Sale Rebate: $0
Acquisition Fee: $700
*Not paid up front; rolled into lease
Miles/yr: 12K
Residual: 58%
Months: 39
Money Factor: .00003
MSD:
Doc Fee:
Lic/Reg Fee:
Sales Tax: 6%
Pre-tax mo.: $346
Total mo.: $367
Drive off: $367
Total lease cost: $14,715
Since Gross Cap Cost = sale price, why does the sheet have two sales (different) prices? Is the $33,742 the REAL selling price? If so, what does that make the $32,400? I’m not paying the first month’s payment twice, effectively, right?
Any corrections, reassurances, or other guidance are greatly appreciated! Thank you!