I know this is leasehackr and this lease is not hackable or even pleasant but the wife wants what the wife wants. I am going to lease it purely for business purposes and while the overall amount makes zero sense financially to lease, it makes more sense when you take into account lease expensing, taxes, fuel and insurance expensing and we may purchase this at the end.
We have a Range Rover Sport and I was trying to use the calculator to make sense. Unfortunately, the dealer is “unable” to provide me with a money factor and that it’s “all taken care of at the bank” and “there’s no markup” so I can’t provide that, he sounds like they aren’t involved at all
Here’s the deal info he provided
MSRP $89,860.00 P360 SE
Residual Value: 50%
Gov/Doc/reg: $830
Tax rate: 7.75% with capitalized taxes $5172.96
Net Cap Cost: $95,852.96
Payment is $1865 for 39 months, 12k miles
Due at signing with 0 down is 3056.92
Per the calculator, if the residual is 50%, its a subvented lease which has a MF 0.00297. the non-suvented lease has residual 52% with MF 0.00384
The numbers dont add up between the above and the calculator and i end up with $1726 a month or so. Can i trust the calculator is accurate to that degree? It looks correct if you take the 50% residual and the higher MF from the other lease.
Any advice on how to check or proceed? I am committed to the car and dealer so just want to make sure all is correct if any advice or clarification is out there and make sure there’s no mistakes.
they make no sense to lease when i bought mine last month it was cheaper to buy and you can write it off aswell. RR will use BofA and you can get a rate in the 5s depending on if you keep money at their bank. I ran the number everyway just doesnt make sense. You can also get a 2-5k discount defiantly 2 without trying hard negotiating.
We ordered the car to purchase (spec and assigned and waited for build over last 9 months as there was no inventory) but I’m last minute leasing for write off reasons. I can’t section 179 based on my business set up. So I wanted to basically lease it at the going rate. Not pay unnecessary money towards interest over whatever I would owe. If that makes sense
just read the title and realize your in ohio. Assuming balloon leases are legal there you could lease the car threw a alt company that has different leases get the same benefits at a cheaper interest rate if you plan on keeping the car once the lease is done and its just a numbers game.
For example if you used a company like pfs you could set your lease at a 48 month lease 0 down with whatever their minimum residual is and then pay it off at the end of the 48 month for lets say 10k and have the same tax benefit
Edmunds can provide you with the mf/residual to verify. The dealer advising that they can’t provide that info is purely BSing you. Not operating in good faith and if it was me, I would stay far away from them. Dealers do have some inventory on these, so you can theoretically shop around.
