Lease #'s Check. 2023 Honda Ridgeline BE, 12/36, $512 after tax, DAS $2363

Ask the Hackrs
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Good morning, first post here so bear with me.

I signed this deal Monday evening with some hesitation, all of the online calculators I used to double-check dealer math were spit out different numbers than what the dealer was putting in front of me. LeaseHackrs estimate is HERE
The deal as discussed with the Dealer is as follows:

2023 Honda Ridgeline BE
MSRP: $48,060
Negotiated Price: $46,060
Honda Conquest cash: $1500
Trade: $863.75
Indiana Tax: 7%
MF: .00103
RES: 64%
Acquisitions: $595
Doc Fee: 237.50
Title, Liceses, Reg Fee: 31.25

Acquisition, Doc fee and, Title, Licenses, Reg fees were to be paid upfront out of the Trade money.

LeaseHackr is saying monthly with tax should be $467 and the dealer is saying $512. I would like to get to the bottom of it to make any corrections with Honda Finance or the dealer.

Attached are the lease doc’s.

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Any help or advise is appreciated

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:point_up: That isn’t going to happen, because the likelihood that your calculations are correct and theirs are wrong is virtually (if not actually) zero.

Just setting expectations here. Definitely dig in to find your error(s) so the next one goes exactly according to plan. :slight_smile:

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Your due at signing amount on your calculator does not match the contract. Actual due at signing per the contract is $863.75 Incentives are captured separately in the calculator.

The residual value on your contract doesnt match the calculator, suggesting you have the incorrect msrp listed in the calc.

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Corrected the MSRP. I fat-fingered it. should have been $48,060

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Around this monthly payment, you can get Mercedes EQB, if you’re interested in Mercedes. And if you’re in Colorado then after state credit, it will be much lesser.

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Could be mine are wrong like you say. Baring any mistypes, it looks to be off by about $1500 on the calc. If i remove the $1500 honda conquest cash, the dealer and leasehackr monthly align within $1. What do you get with the variables provided in my post?

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The numbers are almost spot on when the calc is correctly filled out to reflect the actual das

Your due at signing is $863.75 in trade equity. Not $2363

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Thanks, im in Indiana though and EV’s dont meet my use case.

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So they capitalized everthing including fee’s instead of paying them upfront as we discussed?

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You dont have enough trade equity to cover the acq, gov, doc, and first month so they have to capitalize it. It really doesnt make much difference though

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Trade equity was actually $6,827. I got a check for the difference. The fee’s: doc, tax and acquisition were to be paid upfront with the $863.75 thats shown for trade equity. That trade equiity number could have been increased to 1375.75 to cover first payment as well. Like you said it probably doesnt matter. I was going for cheapest monthly to reduce monthly transportation expenses over all. I need to get a new driver a car and there was no room with my $900 truck payment.

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