Hi everyone, so negotiate a sales price of 15% off MSRP (I know, nothing spectacular at the moment) with a dealership
However, when I input what I believe to be equivalent #s into the lease calculator, the monthly payment is not coming out the same as what they sent me
Here is what I computed in the lease calculator:
Here is what the dealership is sending me:
MSRP: $59,395
Selling Price: $50,619
Doc Fee: $499
Acq Fee: $700
Cap Fees: $592.86
Cap Taxes: $1,240.12
Gross Cap Cost: $52,410.86
Cash Down: $2,650
Total Rebates: $1,500
Amy Applied Upfront: $2,125.14
Total Cap Reduction: $2,024.86
NEt Cap Cost: $51,626.12
Residual: 56%
Term: 39mo/12k
MF: 0.00005 with the 3 MSDs
Initial Payment: $4,150
Due on Deliver: $2,650
They come out with a month end payment of $475.14 vs mine showing $403
What am I doing wrong and where are they adding bullshit into the equation?
Also, yes I realize 15% is mediocre at best, but just trying to first figure out why the difference.
I can straighten this whole mess out in 5 seconds. I need your sales tax rate. It’s not disclosed in the worksheet. Looks like it’s an odd ball rate of around 6.4212%. Doesn’t look right.
Don’t have him roll all of this into your cap cost unless you want to pay interest on this.
Doc Fee: $499
Acq Fee: $700
Cap Fees: $592.86
Cap Taxes: $1,240.12
Looks like he’s taking
Amt(sic) Applied Upfront: $2,125.14
And putting it as part of your negotiated selling price and only using
Total Cap Reduction: $2,024.86
to reduce your cap cost. He’s using some of the 2650 you are paying down and factoring it as part of the selling price. This makes sense because you’re about 70ish apart. So $2125.14/38 = $55.92 + interest (0.10)+ tax + give or take how you did your math based on rolling in all of those fees into cap cost that I mentioned above
