In this quote can anyone please tell me what “Tax on collected items” and “capitalized initial fees are?” Dealer is no help and that extra $770 is killing the deal for me.
thanks
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I don’t see the $770 you’re talking about, and tax is tax, they can’t over charge on that. What kind of Korean car is this?
Tax on collected items and capitalized initial fees 524.40+246.04
guess i’m a bit confused because I’m in CA and I thought I pay taxes on my lease payments so why are there more taxes adding to my cap cost? It’s a Kia. I know it’s not a good quote but I wanted to be clear on those charges for when I come back to them with my offer.
Typically the tax on collected items is tax on upfront rebates
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So taxes plus the first payment, it’s zero DAS. So if you want the payment lower you need to lower the price or mf. You might want to give more details, like what this secret car is. Capitalized initial fees means they are rolling in the first payment
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My guess is a Kia Optima LX.
I was not aware I have to add in the taxes from the rebates. This is what I was missing in my calculations. Thx
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I would say carpet bomb all the dealers in the area for quotes unless you’ve already done that. That discount looks pretty strong though
Kia Optima LX. I know this is a bad quote but I wanted to understand the numbers before going back to them with mine.
I wouldn’t go back with anything, make them sweat while you get more quotes.
copy that and thank you for your help
So Zero DAS means you still have to pay at the dealer
“taxes plus the first payment” ?
Or you pay $0 at dealer but you spread it out over 23 months and pay interest?
Zero due at signing means you pay nothing and the taxes and first payment gets added to the cap cost and spread out over the lease term.
Got it,
I put it in the calculator and it shows
223 Payment or 244 with tax, so it is off just by $2/month
Like this taxes and govt fees that I’m not aware of from my last lease 2 years ago. This is California too. Is this normal now?
@dotmike24 Don’t understand what you are asking. That can’t be a lease from 2 years ago as the doc fee was only recently increased to $85. All those fees look correct though.
@Jon it was the breakdown of taxes that adds up to $254 upfront tax. That’s my first quote I got since I started looking for my new vehicle this weekend. Sorry for the confusion. What I was trying to say is, I haven’t seen that tax breakdown since my last lease 2 years ago ( I don’t have a picture of that 2 years ago lease) lol
Not all lease worksheets will bring it down like that, but as long as your city’s tax rate is 9.5%, it’s correct.
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