Last post on Nov 14, 2013 at 11:30 AM
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
#135 of 194 Re: Can anyone point me to an accurate lease formula? [bluechunks]
by kyfdx@Edmunds HOST
Dec 29, 2012 (9:54 am)
That's $346.25, pre-tax...
#136 of 194 Re: Can anyone point me to an accurate lease formula? [kyfdx]
Dec 29, 2012 (12:33 pm)
Ok - mind giving me a hint at how you got to that number?
#137 of 194 Re: Can anyone point me to an accurate lease formula? [bluechunks]
Dec 29, 2012 (6:27 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 194 Re: Can anyone point me to an accurate lease formula? [qbrozen]
Dec 30, 2012 (7:27 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 194 Re: Can anyone point me to an accurate lease formula? [bluechunks]
by Kirstie@Edmunds HOST
Dec 30, 2012 (7:19 am)
That was kyfdx who responded rather than me, but I'm always happy to take credit for others' work.
#140 of 194 Re: Can anyone point me to an accurate lease formula? [kirstie_h]
Dec 30, 2012 (7:28 am)
Well, then... thanks for the awesome pie we had on Saturday, too!
#141 of 194 Re: Can anyone point me to an accurate lease formula? [bluechunks]
by kyfdx@Edmunds HOST
Dec 30, 2012 (8:52 am)
You added $600 title/registration, and didn't mention the $2000 downpayment... (or, Edmunds calculator did...)
I did a straight calculation, based on the parameters you gave me...
Cap cost - residual = depreciation which is then divided by the lease term in months..
(Cap cost + residual) X money factor = monthly finance charge.
Monthly depreciation + monthly finance charge = lease payment.
Taxes vary depending on state and rate..
#142 of 194 Re: Can anyone point me to an accurate lease formula? [bluechunks]
Jan 01, 2013 (6:46 am)
$2k down makes a huge difference, obviously. About $60/mo.
Jan 22, 2013 (8:11 pm)
A reporter would like to speak to someone who is going to be in the market for a new car in the next few months because their lease is expiring. If you fit this description, please email your daytime contact info to predmunds.com by Friday, January 25, 2013 at noon PT/3 p.m. ET.
#144 of 194 Help getting to the correct payment
Jan 26, 2013 (5:29 am)
I was given a quote for a '13 Acadia Denali of $575 w/tax in NJ but after further research I am questioning the deal. I called the dealer and seem to be getting a lot of double talk so I want to confirm my calculations to make sure I have a leg to stand on. Thanks in advance...
Here's the deal:
Base Cap Cost $47564
Additional Fees (Acq, Title, etc) $1521
Residual (57%) $27813
Money Factor .00077
Term 39 months
sales Tax 7%
Monthly Payment $500 plus tax--NOT SURE WHAT PROPER AMOUNT IS ($34??)
The dealer claims they can't get to my number but are not disputing the money factor or residual. They keep talking about the sales tax but don't seem to be making sense to me. Even if sales tax is $34 month I'm still only at $534 not $575. In NJ, is sales tax paid by the lessee on the vehicle upfront? I didn't think it was but maybe I'm wrong and need to add additional money to cost of the vehicle???