Last post on Apr 11, 2013 at 2:36 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Dissecting the Deal - How To Spot a Good Lease
10 Steps to Leasing a New Car
The "Residual Value" of Leasing
Calculate Your Own Lease Payment
#130 of 173 Re: First month payment [brooklynaudi]
Dec 20, 2012 (9:09 am)
Well, I THINK you could tack the first month onto the end. I could be wrong. So, in other words, instead of first month up front and 35 payments, you actually make 36 payments, starting 30 days after you get into the car. Again, I could be totally off base here, but worth looking into.
In any case, yes, $300 additional cap cost should be roughly $9.
I haven't run your numbers through a lease calculator, but don't forget tax on the monthly payment.
edit: oK, ran it through calculator. Looks like you are right on the money. It is still telling me, however, that you should be at $300/mo with tax after just $1k down. That's probably calculating like I did above, that you would make 36 payments, not the first payment up front.
Heckuva deal on a $30k car.
#131 of 173 Re: First month payment [qbrozen]
Dec 20, 2012 (10:25 am)
Ok great, thanks for the help, much appreciated.
#132 of 173 Can anyone point me to an accurate lease formula?
Dec 29, 2012 (8:31 am)
Getting close to leasing a car, but every calculator / formula I use produces different results... so I figured I'd just ask.
I've tried about 5 different ones, as well as creating my own based on formulas found here, on bankrate, and one or two others.... all end up different.
So - if anyone can point me to a true formula, that'll really help!
#133 of 173 Re: Can anyone point me to an accurate lease formula? [bluechunks]
by kyfdx HOST
Dec 29, 2012 (9:48 am)
It's pretty much a straight math formula... Check out Post #1 in this discussion for specifics...
I do it on a spreadsheet that my then 12-yr-old son made for me...
#134 of 173 Re: Can anyone point me to an accurate lease formula? [kyfdx]
Dec 29, 2012 (10:00 am)
Thanks Kirstie -
Well... that's the one I used just before posting!
FWIW that gave me a monthly (including taxes) of 356.92; Edmunds gave me a monthly including taxes of 282.51. Obviously a pretty significant difference!
Numbers are 29,625 msrp, 27,625 cap cost, 36 months, .6 res value, .0016.
I'm sure I'm messed something up... not sure what it is though!
#135 of 173 Re: Can anyone point me to an accurate lease formula? [bluechunks]
by kyfdx HOST
Dec 29, 2012 (10:54 am)
That's $346.25, pre-tax...
#136 of 173 Re: Can anyone point me to an accurate lease formula? [kyfdx]
Dec 29, 2012 (1:33 pm)
Ok - mind giving me a hint at how you got to that number?
#137 of 173 Re: Can anyone point me to an accurate lease formula? [bluechunks]
Dec 29, 2012 (7:27 pm)
what are you entering into edmunds' calculator?
I entered what you listed above, excluded acquisition and DMV since you didn't list any, used 17775 as the residual, and assumed 7% tax. It spits out $382/mo for 36 mos.
#138 of 173 Re: Can anyone point me to an accurate lease formula? [qbrozen]
Dec 30, 2012 (8:27 am)
Hi again -
27,625 cap cost, 36 months, .6 res value (17775 based on MSRP) (I see Edmunds doesn't provide for entering MSRP?), .0016 money factor with 2,000 down. I get $338, tax included!
#139 of 173 Re: Can anyone point me to an accurate lease formula? [bluechunks]
by kirstie_h HOST
Dec 30, 2012 (8:19 am)
That was kyfdx who responded rather than me, but I'm always happy to take credit for others' work.