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Prices Paid: Buying & Leasing Experiences Honda Accord Lease Questions
3634 messages, Last post on Dec 09, 2009 at 2:38 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: kingpcgeek (Jul 31, 2008 2:03 pm) |
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Goodness knows what lease calculators some dealers use - below is an offer I received today, I'm trying to analyze this offer, but none of my lease calculators match these outcomes. If someone else can analyze this and come up with the same figures, I'd be very grateful to know how it was derived. I live in New Jersey, with 7% sales tax. Thanks! 1. MSRP = $22,795 2. Selling price = $20,920 3. AHFC acquisition fee = $595.00 4. Capital cost reduction = $2,500.00 5. Dealer doc fees = $224.00 6. Dealer add ons = $0 7. Residual $ value after 36 months = $13,698.00 (12K PER YEAR) 8. Money factor for 36 months = .00186 9. Registration cost (3 years in NJ) = $184.00 10. Sales tax = $942.00 (buyer note: this is 7% of 13,457!?) 11. Monthly lease payment (36 months) = $255.00
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Replying to: mdominik (Jul 31, 2008 6:16 pm) |
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Replying to: mdominik (Jul 31, 2008 6:16 pm)
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Replying to: kyfdx (Aug 01, 2008 3:01 am)
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Replying to: mdominik (Aug 01, 2008 3:47 am) I have a quote from another NJ dealer I'm getting ready to sign with for Honda Accord 08 LX MSRP 21830 Neg. Price: 19550 (incl. Destination charge) Down: $0 Money Factor (.00186) 36 Months 12,000 miles / year = 60% residual resulting in about $254/month with taxes incl. Inception fees are: $199 Doc fee (sigh, will try to argue this) $187.5 Registration, $7.5 tire tax, and $595 acquisition fee. Asking around that seems to be the best deal I could find. I was thinking about heading in today to purchase, would I be making a mistake? I was told the Honda rates might change in Aug. Does anyone have the Aug Numbers yet? I have a similar quote to the above from another NJ dealer much much closer, with a neg. price of 19450 (100 lower), but they want me to pay taxes up front (652.48) and add in acquisition fee (595) into the monthly payment. This seems odd to me. Especially since I can't seem to get that tax figure to come up in my calculators.. any suggestions? thanks in advance |
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Replying to: wchang (Aug 01, 2008 4:08 am) http://www.edmunds.com/apps/calc/CalculatorController?pmtcalAction=lease_calc Good luck, I may be in purchasing mode this weekend too. |
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Replying to: wchang (Aug 01, 2008 4:08 am) |
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Replying to: mdominik (Aug 01, 2008 4:17 am) The edmunds lease calc confuses me a bit, my understanding is that taxes are taxed based on your monthly payment, and not the value of the car. If I pay taxes up front, wouldn't that really just be (mnthly payment * 36) * 7% NJ Sales Tax? Good luck to you as well. Lets hope the aug. #'s don't shift too drastically .
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Replying to: wchang (Aug 01, 2008 4:41 am) Using the Edmunds calculator works easiest if you get the following quote from the dealer: ask them to give you all the pertinent figures (sales price, MF, residual %, acq fee, docs, title®, sales tax) but to NOT include the acq fee, sales tax, docs, title® in the monthly payment. Tell them you'll pay all that upfront, even if you change your mind and decide to let it be included. Then you can use the calculator and zero the entries for sales tax, acq fee, title reg costs, and see if their figure matches what Edmunds calculator tells you. If not, tell them you need an explanation. If they line up, then you can consider adding back in the acq fee and the title reg costs, etc, and recalculating. Good luck! |
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