Toyota Highlander LE AWD

Ask the Hackrs
1

Spent three hours at the dealer today, trying to wrap our heads around the numbers. Below is what we understand to be true, but at soon as the dealer put it in “their system,” things got confusing.

MSRP: 35993
Selling price: 32288
Residual: 22676
15k/36
MSDs: 7 ($2450)
MF: .00006

Picture attached of the quote. The “upfront”/cash received and tax boxes are what’s throwing me off. Does it seem right that the security deposit is getting lumped in with the upfront/cash received? Do we pay taxes on MSDs? Also what’s up with the $686 in the cap reduction?

We didn’t sign today (had to order the car from another dealer). Any help over the next few days is greatly appreciated!

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2

yeah they are being lumped together. looks good

3

thanks so much! do you know - is it expected to pay sales taxes on MSDs?

4

No but everything adds up there, just letting you know. Cap cost reduction + 1st Month + fees + security deposit = 3829

5

Thanks! One hopefully last question, where does the sales tax number come from ($1,035)? Our tax rate should be 7.25%, is it off of the MSRP or Selling Price or something else?

6

Don’t know the specifics for calculating tax on an IL lease, check with the dealer that the sales tax is right.

7

So cook county has a base tax rate somewhere around 7% but living in Chicago it goes up to 8 % or so. The tax should be off the the lease cost or how much you pay for the lease.

8

Taxes are based on DuPage county (so 7.25%)

Based on the $1,035 that we’re being quoted for taxes, it breaks down to:
$779 on monthly payments
$76 on fees (650+411)
$178 for MSD

If MSDs shouldn’t be included in the taxes, then something is off with the numbers. Or have I just been staring too long at this quote?

9

If you are otherwise happy with the deal I wouldn’t quibble over $178 that is probably legitimate.