Not necessarily. It depends on how you structure the lease. If you requested a zero drive- off, then a portion of the 10825 would be allocated to a CCR (10130.43) while the balance (694.57) is used to cover all upfront fees (1st pay 568.56 and upfront charges 126.01- needs to be itemized).
Lots of data missing in this dealer WS… (CCR tax, acq fee, DMV fees, etc.). The sell price is 61554.13 and the gross cap is 63803.52 which means that 2249.39 worth of fees is capped in the lease and unaccounted for but likely includes Kia’s acq fee of 650 and CCR tax of 8.25% x 10130.43 = 835.76 for a total of 1485.76… what accounts for the remaining 763.63?
This is why it is extremely non-productive to question a dealer WS… too much info missing and a host of other issues.
Don’t waste time trying to decipher a dealer’s worksheet or chasing after them. Otherwise, you’re allowing them to control the deal. They often omit a lot of relevant detail and sometimes make mistakes. You need to rely on credible outside sources (e.g., LH marketplace and signed deals, Edmunds, etc.). Do your own research and establish a reasonable selling price in your market. Be sure to get a copy of the factory window sticker. Check for non-factory add-ons or dealer-installed options. And, if possible, eliminate those you don’t need or want. Get a list of all customer and dealer rebates/incentives including VIN#-specific discounts/incentives, if any. And, yes, the dealer has such a list.
The only thing useful about dealer lease worksheets is the input data. All data should be vetted such as acquisition fee, doc fee (regulated by some states), cost of money (e.g., money factor), gov fees, residual, rebates/incentives, sales tax rate, etc. Make sure the residual matches the term and annual mileage requirement. Check available tax credits/incentives via the fund provider who may cover taxes or, at minimum, may assess a lower sales tax rate to energize sales for some models.
Organize all relevant data in tabular format with the goal of creating a lease proposal that reflects your target deal. The idea is to create your own target deal (proposal), not replicate the dealer’s deal.
Craft a one-page professional-looking lease proposal and email it to the sales manager (SM), not a floor salesperson as they’re often Mickey D order takers and lack knowledge. This should be done after you make phone contact with the SM asking them in a clear crisp voice that you’d like to email them a lease proposal so that the deal can be completed asap.
All numbers should be accurate otherwise, you’ll lose credibility. Negotiate via phone/email. Once an agreement is reached, ask the dealer for a review copy of the lease agreement and all contract addenda BEFORE you go to the dealer and sign. Moreover, it’s helpful to know the terms and conditions of the lease contract such as early termination liability criteria and purchase option criteria as well as lease amortization methodology and excess wear/tear criteria. If all is as agreed, tell the SM that you’ll come in to sign asap. You don’t want any surprises or dealer excuses like …. Oh, we made a mistake. That’s unacceptable and shouldn’t be tolerated.
If the dealer isn’t transparent or is uncooperative or showing signs of incompetence, WALK AWAY AND MOVE ON!
Leasing is time-consuming and requires a good deal of study and attention to detail. If you don’t have the time to commit, perhaps your best alternative is a good broker. There are some outstanding brokers on this website. However, if you’re willing to commit your time and resources, always control the deal. That can only be achieved with education which breeds confidence and increases the likelihood of success.
??? Let me know.
