What does the Cap Red. mean in this sheet

Ask the Hackrs
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1

I received a quote from a dealer and there is a line in their sheet that I do not get what it means:

Cap Red - 2,526.83.

What does this refer to and where would I put this in the calculator?

2

That’s a cap cost reduction. If you have all other info correct, that would be your down payment. You’re better off just ignoring it and matching the das amount per the lh calculator faq.

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3

Thanks. Then something to me does not make sense in what the dealer quoted.

This is what they gave my wife (I was not there to stop her putting a deposit down unfortunatley):

MSRP - 52,610.00
Price - 44,860.00
Cap Red - 2,526.83
Residual - 55%
MF - .00081
Cash Received - 3,100.00
Tax - 90.29
Acquisition Fee - 995.00
Fee - 858.75

Monthly Payment - 497.37

When I tried to add this to the calculator it does not come out to the 497.37. If I am doing it correctly it comes out 443.00 a month.

A couple of items:

  1. We have Costco and dealer said that the Costco is part of the discounted price
  2. My wife is also a healthcare worker but was told that we cannot stack that with Costco so they instead added a 250.00 discount to the sell price.

I am at a loss here because my wife put down 1,000 deposit. I was working with a broker but they kind of went awol on me so I was going to contact someone else until I found this out yesterday. My fault for not communicating properly with wife but that is another thread for a different venue.

I assume if I back out of this deal I will definitely be out the $ 1,000 so am not sure how best to proceed.

4

deposits are always refundable.

5

Well, on what my wife signed there is a nice black stamp that says Non-Refundable. I always thought it was not.

6

a dealer isn’t allowed to keep your deposit if they dont sell you a car, unless it was a factory order, and even then, it’s often returned (unless it’s a spec they can’t otherwise sell). you’re not locked into anything.

7

Some states allow for nonrefundable deposits

8

de not blue ones.

10

Colorado is blue now and allows for nonrefundable deposits

11

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