Okay, annoyed at myself for having to ask, but I got numbers from a dealer and I can’t seem to make sense of the calculator - in particular the payments don’t match up, so I just want to understand it to help evaluate a few different options I"m working on.
I’m attaching shot of the sheet I got, and GREATLY appreciate any insights. Screenshot of deal sheet
Also, note from dealer:
"*$602 - Monthly lease payment for 35 Months @ 12K miles per year with **$12.20 due at signing and with approved credit. This payment includes all taxes and $995 Volvo Acquisition Fee and $699 Dealer Admin Fee. The Money Factor is 0.0006. This equates to 1.44 APR
OR
*$634 - Monthly lease payment for 35 Months @ 15K miles per year with **$12.20 due at signing and with approved credit. This payment includes all taxes and $995 Volvo Acquisition Fee and $699 Dealer Admin Fee. The Money Factor is 0.0006. This equates to 1.44 APR
*Either payment can be reduced by $28 per month for every $1,000 you may choose to put down.
**Volvo will make your 1st payment which is usually included in the down payment. That is why there are only 35 payments and why only the State Filling Fee of $12.20 is due at signing."
The way I prefer to do it is take the base residual value and subtract the mileage penalty (mileage * $.20 a mile I believe), then divide that value by the MSRP to get an adjusted RV. In this case, that would be 54.46%
You can also use the normal RV and just add the mileage penalty to the selling price.
What does edmunds say the MF/RV/incentives should be?
