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
#5 of 194 Re: How to Calculate Monthly Lease Payments [kirstie_h]
Feb 16, 2010 (10:27 am)
Thanks for the help. Here is what the dealer provide me regarding Lease info on a 2009 G37 Coupe with Nav and Premium packages:
Cap cost 39,946
Residual % 57%
39 months lease term
Dealer to pay off remaining lease payments of 2800.
Dealer said payments would come to 659.50 plus tax of 07%. This sound high to me as the car is a year old. Still new though. Any help, thoughts or comments>>>>
#6 of 194 Re: How to Calculate Monthly Lease Payments [artinflorida]
by Kirstie@Edmunds HOST
Feb 18, 2010 (11:04 am)
The calculation doesn't seem high, but the cap cost seems high - I don't see the money factor there, but in any case, it appears that people are getting better deals on the 2009 G37 than $40K.
I really don't think this is your best deal. It sounds like you are currently leasing, and the lease is not yet over. How much longer do you have on that vehicle, and why get rid of it now?
#8 of 194 Re: How to Calculate Monthly Lease Payments [kirstie_h]
Mar 08, 2010 (10:09 am)
Please help calculate my payments. I live in Illinois and sales tax is based off sales price.
Honda Pilot EX-L
nothing down, taxes rolled in.
Due at signing 1st months, Doc Fee and License/Title
Cap Cost 30,854
money factor .00183
Term 36 months
#9 of 194 Re: How to Calculate Monthly Lease Payments [ppierce2]
Mar 08, 2010 (1:43 pm)
$396 based on the figures you posted. Taxes on 30854 [your rate] divide by 36 and roll into lease. In st. clair county in s.w. illinois that would add about $56 to the 396.
#10 of 194 Re: How to Calculate Monthly Lease Payments [kirstie_h]
Mar 13, 2010 (6:35 pm)
You are forgetting the Aquisition Fee that (I believe) all manufactures charge on leases. Honda charges 595.00 and that is probably typical.
#11 of 194 Re: How to Calculate Monthly Lease Payments [isellhondas]
by Kirstie@Edmunds HOST
Mar 15, 2010 (8:59 am)
You're right - however, I've seen higher & lower amounts, depending on manufacturer and the deal-of-the-day. I'll try to remember to ask for follow-up if the person requesting assistance leaves out the acquisition fee!
#12 of 194 Are my calculations right?
Apr 05, 2010 (4:21 pm)
I was running my lease calculator on the deal Hyundai has on their new 2011 Sonata GLS. Are my calculations correct?
Here are my numbers:
Payment: 199 (w/o tax)
Term: 36 mo
ALG Residual: 54% after 36 mo
Net Cap: 17,995 (MSRP - Down)
Residual: 10,905.30 (MSRP * ALG Res)
Financed: 7089.70 (Net Cap - Residual)
Dep. Fee: 196.94 (Financed / Term)
Fin. Fee: 2.06 (Payment - Dep. Fee)
Money Factor: 0.00007 ((Net Cap + Residual) / Fin. Fee)
Equiv. APR: 0.17% (Money Factor * 2400)
#13 of 194 Re: Are my calculations right? [blaholdings]
by kyfdx@Edmunds HOST
Apr 05, 2010 (8:14 pm)
1) Manufacturer lease promotions rarely use ALG residuals. To do a proper calculation, you have to know the actual residual percentage.
2) The disclaimer in the ad gives you the MSRP ($20915) and the capitilized cost ($19,165.11). Now, what they don't tell you, is if the Capitalized cost is the price of the car, to which you add the $595 acquisition fee, then subtract the down payment to get the Net CAP, or if the $19,165.11 is the actual Net Cap that the lease payment is based on.
3) To apply the money factor, you have to add the net cap and the residual, not subtract. The amount financed is actually an average of the net cap and residual, not the depreciation.
To actually figure a lease payment, you need four items:
Net CAP cost
Residual percentage (or actual residual)
Including the lease payment as the 5th variable, you can solve for any variable, as long as the other four are known quantities.
In Hyundai's example, only two numbers are known quantities (MSRP and lease payment), with possibly the CAP cost as 3rd known (but, even that is shaky). We don't know the residual or the money factor.
So, everything else is just a guess.
#14 of 194 But.. we don't have to guess..
by kyfdx@Edmunds HOST
Apr 05, 2010 (8:26 pm)
We can get the answer here: Hyundai Sonata Lease Questions
Looks like the residual is 60% and the MF is .00048
Using my handy-dandy spreadsheet, that means the actual NET CAP cost after accounting for acquisition fee and down payment is $19,165.11 (which, by the way... means they are only giving a discount from MSRP of $245!!)
$ 15.22 finance charge
Great residual/MF, but not much of a discount.... I would guess with some negotiation, you could get the same payment while only putting $1500 or less, down..