Everyone’s different, but we all got same itch
FWIW, I never intended on doing THIS deal. I was just trying to understand the numbers they were including and how they got to their monthly payment.
I also get that this isn’t for everyone. I know that Teslas are faster, but I don’t want a Tesla. I know there a better deals on Panameras but, frankly, I think they are ugly. And if I wanted an ICE, I’d buy an RS6. But I just really hate pumping gas.
What I was looking for was a luxury EV that got 300+ miles in range. The EQS is just hideous. But, I would have considered Lucid more seriously if I lived in a city where I could even test drive one, let alone service it in the future.
I’m going to see how much I can get them to come own on MSRP and MF. This is the new model and custom order that I placed in April, I don’t know how much I’ll get out of them. If they budge a bit, I’ll probably go with a 24 month lease w/ the intent of buying it outright if I have no major problems with it.
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2020-2024 Taycans are one of the few EVs that get substantially better range than EPA estimates.
Taycan typically tops EPA figures
In our testing, we’ve found that the EPA rates the Taycan conservatively. A 2020 Taycan 4S, for example, is rated at 203 miles of range. However, in Edmunds’ testing, it covered a whopping 323 miles
I don’t really see how a 50 mile diff in range makes a substantial difference.
You’re going to light a ton of money on fire almost regardless of what you do in this situation. These things are disposable toys, I wouldn’t want to be on the hook for 6 fig on an electric toy which is going to almost surely nosedive in value/demand.
Leasing outgoing taycan makes infinitely more sense. Seems like a lot of money to spend to charge minimally less and for “hating pumping gas.”
For me, 250 vs 300 makes all the difference in terms of having to charge vs not having to charge on certain trips I take regularly, it really is heavily dependent on each persons commute or driving needs.
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Do you know the depreciation on EVs right now? In 24 months, your buyout will probably be well over market value for the vehicle.
I can see this. However I wouldn’t judge range from EPA estimates if that’s what the OP is referring to. I’d evaluate range based on tests by Edmund’s, C/D, etc (who replicate the same test for all EVs they test)
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I can certainly understand why you’re confused. The dealer screwed up b/c they don’t understand the mathematics relying, instead, on a computer/calculator. Bad idea unless you understand the math. I’ve been preaching this for well over 40 years.
The 1892.16 is a portion of the 5000 DAS used as a cap reduction that results in a decrease in your monthly payment. The balance is used to pay for the remaining lease inception fees (see below).
Tax is levied as follows…
5.95% x (7500 + 1892.16) = 558.83 and is paid upfront (see below). The tax amounts of 701.98 and 743.75 are BS and is not used in any of the lease calculations. The only tax used is 558.83.
Here is how your lease is structured…
MSRP 147565.00
Sell Price 147565.00 … No DEALER discount? That’s horse shit!
Acq Fee 1095.00
Dealer Fee 409.25
Gross Cap 149069.25
CCR/Rebate 7500.00
CCR/Cash 1892.16
Adj. Cap 139677.09
RV (55%) 81160.75
MF .00410
Term 39
Base Pmt = .00410 x (139677.09 + 81160.09) + (139677.09 - 81160.09)/39
= 2405.86
Contract Pmt = 2405.86 x 1.0595
= 2549.01
Lease Inception Fees
Cash CCR 1892.16
Sales Tax 558.83
1st Pmt 2549.01
DAS 5000.00
Bottom line: DAS = 5000 followed by 38 monthly payments of 2549.01 each.
And that, my friend, is what you call transparency and accountability.
The Cash CCR is calculated. If you’re interested, I can provide you with the formula developed by yours truly as well as all other manual calculations.
Also, the LH calc provides…
The only change from yours is that the down payment is 1892.16, not 5000.
??? Let me know.
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If you hate pumping gas, charging at public chargers is at least 20x worse
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Except I don’t have gas pump at home.
Full service gas station?
This makes way more sense than what they sent me. Thanks so much!
Sure! Thanks!
Charge at home essential for sure. I can’t at my condo in Atlanta. But you still have the issue of charging on the road if you take trips
I hate the dealertrack portal for this exact reason. The only money down is the $1892- included in the total of 5k. The taxes calculated are wrong and it doesn’t disclose monthly taxes. This is the #1 reason consumers dislike dealers - they are deceiving and non transparent.
I couldn’t agree more! They actually calculated tax on the 5000… unbelievable! The 5000 is DAS.
I don’t think you are understanding some basic leasing concepts…‘down’ vs DAS (due at signing, 5000) are not the same thing…and reductions to cap are in fact generally taxed.
PS, MF is killer on Porsche leases and RVs nothing to write home about especially on their ICE stuff.
I wouldn’t move a penny on an order, especially if pricing was agreed to in advance.
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@delta737h we’re in numerical agreement yet again.
For others, here’s a different way of looking at the breakdown vs John’s post.
In Oklahoma, Cap reduction/cash and Rebates are taxed. The dealer is making it simple by telling you your tax bill is $743.75, 5.95% of your $12,500 in cap reduction (7,500 rebate and 5,000 cash).
However, he fails to indicate that some of that cap reduction is being applied to your inception fees. In this case, the first monthly payment of $2,549.01 and $558.83 in taxes – $3,107.94 in total – reduce your total cap reduction from $12,500 to $9,392.16 (which in turn is your taxable CCR amount, on which you multiply the tax rate to arrive at the correct tax amount of $558.83)
Because math is so (literally) neat, the difference between $743.75 and $558.83 is $184.92, which is 5.95% of your inception fees ($3,107.94)
As for where he pulls the $701.98, I haven’t the slightest clue! (nor does he apparently)
Hope this helps.
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And neither do I. I don’t think God knows. At any rate, the deal is horrible… no dealer discount and an MF = .00410 (9.84%) that’s astronomically high… YIKES!
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