It shows a $2,000 down payment, and $1,500 rebate.
Why did you remove the $1,500 from the rebate and put it as part of the down payment in your calculator?
Right, you see where I’m coming from now, but your LH calc, doing it your way, and me using the LH calc doing it the “right” way, or at least how it’s intended to be used yielded exactly the same number…
Yes, but here is a method to my madness. See my post to @mllcb42 where I stated, in part…
I think it’s less confusing for someone to see that the amount due at signing is the amount due at signing vs explaining why the numbers output don’t match but you can get to the number you want by adding back in the rebate that was removed, etc.
In one case, what it says it what you pay.
In the other, you have to work out back calculating the cap cost reduction, removing the incentive, plugging that in, and then know to back it back out of the listed due at signing. That definitely doesn’t sound like the path of least resistance to me.
Ultimately, one needs to learn how to read a dealer offer in either case (or really not, since IMO, there’s no reason you should ever be asking a dealer for an offer anyway) and interpret what they’re saying.
“read a dealer offer?”
bruh it says 2,000 due at signing 726/mo 36mos 12k/yr?
This isn’t written in a forgotten language
How does this compare to the Marketplace for the Midwest?
Dealers often use “Down” and “due at signing” interchangeably, even though they’re not the same thing. In some cases, it is less clear than others. In this case, they list it both as a due at signing amount and as a full $2k cap reduction, which going off what they’re showing doesn’t actually allocate any money going anywhere to a first month’s payment. The breakdown shown on the dealer’s offer here conflicts with itself.
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fun fact 1st payment, dmv, taxes, acq fee, doc fee can all be rolled into cap cost.
in that situation 2k cap cost and 2k down MEAN THE SAME THING
Let’s not get hung up on the LH calc. As I’ve said, I don’t like online calculators for good reason. How about I promise never to use the LH calculator again and just present my own calculations? People don’t learn a damn thing by using calculators. In fact, when I was teaching undergrad math classes, I never allowed students to use calculators unless I was convinced that they understood the math. And then, they had to show their work regardless of whether they used a calculator or not.
Fun fact, they absolutely can, but the dealer breakdown specifies that the dmv, taxes, acq fee, and doc fee are capped and the 1st payment is not.
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The reality is that we’re trying to help people understand how to most easily calculate a lease and the vast majority coming through here aren’t going to create their own calculator. The LH calc is the closest most people are going to use. Have to meet people where they are.
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You may make this clear, but we both know it’s super easy to see this sheet and it not actually mean 2k due at signing.
I see sheets all the time that show a cash down, but not total cash due. There is literally options to print it that way.
“Let’s not get hung up on the LH calc” - really? On LHer?
Well then, maybe you should start your own website with your own calculator?
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This isn’t an undergrad math class, this is a place where we help the masses understand leasing, and while we all appreciate your grasp on the math I would argue you’re just confusing people.
Meanwhile, your math comes to 725 with 2,000 down and so does the LH calc…
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@max_g there is only 1 Volvo program on marketplace for the Midwest and I’ve filled out the inquiry form and DM’d him. Although he has responded, I have not received a helpful response. I’ve looked at his spreadsheets but they don’t have what I’m looking for and there isn’t a calculator to mess with the numbers. So I’m feeling a bit struck out there. I’d be more than happy to have a conversation with him.
Well, that’s nice. But I want them to learn how the calculations are done. That goes a long way toward understanding leasing. Remember, I was a teacher. This is supposed to be an informational and educational website. Showing them how to key in information isn’t going to help much toward that end. I’ve gotten personal emails from lots of people thanking me for my sometimes-long-winded explanations. The most common comment I received was… “I learned a lot from you”. I used to cringe every time I saw airline pilots key in data to their flight management system (FMS) knowing darn well they couldn’t compute a geodesic flight path or any other aircraft performance/navigation calculations if their life and the lives of their passengers depended on it. My brother-in-law used to fly for US Air and told me he never made a manual calculation, and I asked him if he was proud of that to which he said… “I couldn’t care less”. I told him he had a bad attitude and had no business being in a cockpit… With DEI, I’ll never fly commercially again.
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That’s not the feedback I’m getting. Quite the contrary. I’m sure some are confused but there are many that are not. You once told me, quite innocently and I know you were well meaning, that the calculation of Illinois (NY) sales tax was extremely complicated. Honestly, I could give a good 1st year HS algebra class the Illinois or NY (pub 839) Sales tax guidelines and ask them to compute the sales tax given a hypothetical scenario and I’m sure most could do it. However, I’ll admit that to motivate them, I would have to make it extra credit. Nowadays, I would have to throw in tickets to their favorite concert and bring in pizza (lol).
Yeah, I saw that. I’m not surprised. That’s great! But it would still be very beneficial if people knew how the 725 payment was calculated and so I showed them in my post above. It’s really not that difficult. Middle school math!
I’m not arguing it’s so complex that someone can’t read the publication and do it, just that it is more complex than the average person will care to understand.
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I agree especially for those that don’t reside in Illinois or NY.
Most people schedule a block of time on my calendar.
Politely, I get many inquiries every day from people asking for XX different quotes, and I don’t have the desire or bandwidth to answer those looking to window-shop.
If you want a deal, I’ll send you my calendar link via private message.
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