Lease sheets have always been a challenge for me. But I can work leases and have a decent understanding. 1st attempt by dealer: The total monthly seemed a bit high and didn’t match LH Calc. After a few minutes, I discovered the Dealer Cash that was supposed to go towards the selling price was being used for the $1600 DAS, leaving only $400 of the 2k for the selling price or cap cost. I told him I wanted to pay the DAS myself and have the DC used for the selling price, as we discussed. That change brought my LH Calc down to $740 mo. But my LH Calc. is off, but more importantly, I need help deciphering this lease sheet, please.
Dealers Comments
Below is the screenshot using 9 Security deposits. I’m showing $1,600 due at signing (in addition to the $8,550 security deposit) that we are not collecting as part of the dealer cash. So the total due at signing is $10,150 but only $8,550 from you. The other $400 is discounted on the selling price."
*** 1st Quote Sheet***
I put them together for easier comparison. But the post discussing 2nd Quote is below.
*** 2nd Quote Sheet***
The original selling price was supposed to be quoted without incentives, and I WAS CLEAR about it, but his assumption was I was a finance or cash pay, not a lease. So we agreed on $81,400, and then I explained I wanted the DC to reduce to $79,400, the final selling price. That’s when things went south when he “realized” I was leasing. He was trying to base the final selling at $81,400, but I knew that being at $79400 would benefit me in the lease. However, he wasn’t going for it because of the loss they were taking. So he still factored the lease with $81,400 and used the dealer cash for the DAS and the rest as a discount. But I caught it and told him to change it, and he did and then sent the second sheet. I’m still getting something wrong on the LH Calc and need help deciphering it. Any help or advice, but mainly I need to know if these figures look correct or what?
When I questioned the factoring explanation, I didn’t think all the numbers were on the sheet. So I’m still getting a different number on the LH Calc.
Dealer Comments
Yes. The selling Price is $81,000, using $1,600 as cash down and not collecting it and selling at $79,400 net. That’s using the 2k. If I would have known it was a lease I would have told you $80,400, but as I said, I’d honor it. Leonard gave me an earful about it too, lol. It is losing $4,692.79. *** I"m confused about the selling price because now he is saying $81000 when originally it was $81,400 - DC 2k + $79400
Dealer Comments
It does work out better for you. Selling Price $79,400. $7,650 security deposit from you. $1,339.41 DAS + $7,650 security for a total of $8989.41.
2nd Quote Sheet
See notes at the Bottom of the LH Sheet.
