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Prices Paid: Buying & Leasing Experiences Lexus RX 350 / RX 450h Lease Questions
1582 messages, Last post on Dec 03, 2009 at 11:27 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
Why does the interest portion of the lease payment calculation include interest on the residual value and the capitalized costs. It seems to me that the calculation is doubling up on the interest on the negotiated purchase price and then on the residual value. Is that because the money factor really doesn't correspond to a realistic interest rate?
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Replying to: darballman1 (Nov 20, 2006 8:59 am)
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Replying to: cpa3 (Nov 25, 2006 7:36 pm) |
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Replying to: friendlybayer (Nov 25, 2006 8:15 pm) You may include the dealership name, city and state in your post. Please do not post names of salespeople, telephone numbers, email addresses, or other contact information. |
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Replying to: friendlybayer (Nov 25, 2006 7:31 pm) 483. a month AWD..... |
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Replying to: cpa3 (Nov 25, 2006 7:31 pm) Crown Lexus in Ontario wanted to beat Longo. Here's their offer: Cap. cost: 37,000. 483.(incl.tx) and change w/800. total drive off. Both dealers did not add any "extras". |
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Replying to: redhat381 (Nov 18, 2006 10:42 pm) Once again, this seems to be a So Cal deal, since the car seems to be way under invoice in this area. I too did the 9 MSD's. 36 month lease with 18k per year. $471.48 per month with 9 MSDs and no cap reduction... MSRP: $44,146 Sales price: $37,500 Acquisition fee: $600 Registration, license: $335 Document prep: $48.71 Other fees: $8.75 (California Tire Fee) Lease info: Gross Capitalized Cost $38,100 (sales price + acquisition) Current Money Factor for 36months 18K: .00133 Discount for putting down 9 refundable security deposits: .0009 Final Money Factor: .00043 Residual = 56% also minus $1350 for 9000 extra miles at $0.15. I'm doing 18K/year. Total monthly payment with 8.25% tax = $471.48 I paid for first months and title at drive off. That's it. Side note, I got 56% residual at 15K instead of 12K unlike redhad381. Don't know why, I didn't complain but the norm seems to be 56%/12K, 54%/15K.
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Replying to: moolman (Nov 27, 2006 1:24 am) what dealer did you buy from and what dealers did you check with? I am from OC and will be buying one shortly. Thanks |
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Replying to: moolman (Nov 27, 2006 1:24 am) That seems high compared to what deal I was offered. (See message # 283.) I am putting ZERO RSDs,(850 total down). with a MSRP of 43K, cap. cost of 37.2K for a payment of $ 487. Maybe the diff. is me going with 12K per yr. ? The residual is 24,545. With you putting that chunk of cash down and only $15. less a month, something is not computing here. I live in Orange County, and the tax rate here is 7.75%, so that makes a little difference. But, even with thed difference in mileage from 12K to 18K and $ 186. more in sales tax still wouldn't make up for the extra thousands you are putting down.
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Replying to: darballman1 (Nov 27, 2006 8:48 am) Moolman's monthly w/o 9 MSDs would be about $531. Your monthly with 9 MSDs, based on the numbers you provided, s/b about $426. (provided you actual cap cost is $37.8K, including $600 acquisition. Otherwise your numbers don't work out right.) You would be saving about $61 a month with the 9 MSDs according to my calculations, or $2,196 for the duration of the lease. Since your 9 MSDs would be $4,050, that would be a return of about 14.5% a year. This return is also non-taxable. I don't know about others, but I don't see too many risk-free (or close to it) investments with guranteed non-taxbable return of 14.5% a year for three years. Hope this helps.
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