Hey everyone,
I live in the Suburbs of Philly in PA. Looking to get a good score on a Lease for a Mitsubishi Outlander Sport ES 2 WD.
After browsing the local market i notice that some dealers have extra stock of the ES models of Outlander Sport.
Looking to get a knock out deal.
Standard 10,000 a year lease for 36 months.
$22200 MSRP
Capitalized Cost ($18000)
Basically $4000 in discounts and rebates
57% Residual Value
Residual $ ($22200 x 0.57) = $12654
money factor of 1% APR aka (0.01 / 24) = 0.000416… rounded to 0.00042
$18000-$12654 = $5346
$5346 / 36 (months) = $148.50 a month without taxes and financing
$18000 + $12654 = 30,654 x 0.00042 = $12.87
Local PA tax 6% plus 3% luxury tax = 9%
not sure if they tax the financing amount but this is the way i did it.
(148.50 + 12.87) = 161.37 x 0.09 = $14.52
148.50 + 12.87 + 14.52 = $175.89 a month.
not including Disposition fee or acquisition fee/ dealer fees. documentation fee.
Sound like a good Deal?
Also wanted to know if my calculations are correct and if i should be taxing the financing rate or just the per month vehicle
Thanks in advance!@!@