Ask the Car People.SM


How to Calculate Monthly Lease Payments

173 messages,  Last post on Apr 11, 2013 at 2:36 PM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

What is this discussion about? Car Leasing

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

Messages Page 9 of 18

#76 of 173 question on residual by thalthewall

Aug 25, 2011 (4:57 pm)

Replying to: kyfdx (Jul 04, 2011 6:22 am)
is residual calculated as a percentage of MSRP or capitalized cost. Im looking at a kia sorento, and it seems they calculate the residual from the capitalized cost, not the msrp (hence raising the monthly lease payments). This seems to go against most of what i know, is this a Kia practice or is it industry standard or am i missing something?
 
thanks

#77 of 173 Re: question on residual [thalthewall] by kyfdx HOST

Aug 25, 2011 (5:02 pm)

Replying to: thalthewall (Aug 25, 2011 4:57 pm)
Residuals are calculated on MSRP.
 
Some makes (Toyota, for example) restrict the dollar amount of options that can be residualized. You can't really calculate the residual on a Toyota... you just have to get it from the dealer.
 
I haven't heard of Kia doing that, though..

#78 of 173 Can you help me? by fishmomma

Oct 02, 2011 (4:23 pm)

I admit I have probably never gotten a really good deal on a car, and have gotten REALLY ripped off more than once. I have done better on my last few purchases, since I started researching before my purchase, but unfortunately my most recent purchase a certified Yukon Denali, was a LEMON. I have literally had things falling off this SUV. It has had to have more repairs in the 6 months that I have owned it than all the cars I have ever owned put together! The warranty is only good for 6 months, and there are some major concerns about what I will do then. The dealership I purchased it from has been a nightmare...
 
I have about $8,000 ( I am being conservative) equity in the Yukon, and am ready to just trade it in for a lease. But to be honest I am scared to death to make another mistake. I am tired of being ripped off. I need something that seats more than 5 people ( we are a family of five) and I carpool a lot. So I am looking at an SUV or crossover of some type.
 
I have read through some of these posts and the math just makes my head hurt. I see these adds for low leases but they are always for a stripped down model. I tend to like the higher end trims. Also I only drive about 10,000 miles a year.
 
Where do I start?

#79 of 173 Re: Can you help me? [fishmomma] by im_brentwood

Oct 04, 2011 (9:28 am)

Replying to: fishmomma (Oct 02, 2011 4:23 pm)
Well..
 
First, in some states, trading in an owned vehicle on a lease will give you a tax credit.
 
Second, I wouldn't put any more than $2-3k of your truck's equity down on a lease. Most advertised lease payments require a lot down, are plus tax, MV, dealer fees and include rebates that you may not qualify for. Read the fine print.
 
A good rule of thumb is that every $1k out of pocket on a 3 year lease is about $30/mo in payment.
 
So if the ad is $5k out of pocket, and you want to throw $2k out of pocket, assume that the $299 will be more like $389.

#80 of 173 Lease amount by apj74

Oct 15, 2011 (4:27 pm)

I am getting into a lease for a 2012 Passat SE (automatic 2.5L) with an MSRP of ~25700 for 297.50/month for 36 months with 36000 miles. Any comments on this deal?

#81 of 173 quick question on lease question by mefromfl

Feb 28, 2012 (6:59 pm)

Hi, I need to make a deal by tomorrow and was wondering if anyone can tell me these numbers are correct. Its on a lexus CT200H but the numbers look fishy to me.
 
I have tried alot of lease calculators but can't get the numbers they are getting
 
Vechical price - $36,509.00
Discount - $3,233.03
Rebate - $750
 
Total saling price - $32,525.97
 
Sales tax - $2094.87
Tag/title - $298.75
Dealer fee - $699.99
 
Balance Due - $35,626.04
 
money factor is .00160
Residual is - 62%
I live in florida and I'm putting down $5k and they say my monthly payment will be $365/month for 36/months 10k miles lease
 
I can't get the same numbers as them, at first I asked why they charge me tax on the whole vechical if i'm leasing, but they say when they compute it, it's without that tax.
 
Can someone compute this for me and see what my monthly should be? The $5k down, part will be 1st months payment. - this is for a lexus

#82 of 173 Re: quick question on lease question [mefromfl] by sebring95

Feb 29, 2012 (9:45 am)

Replying to: mefromfl (Feb 28, 2012 6:59 pm)
I can make the numbers work almost to the penny if the residual is based on the selling price (not MSRP). Are they stating the 62% residual or are you backing into that? Do they give a stated $$ amount for the residual and if so, what is that amount? I'm not familiar with Florida sales tax so I'm not sure if it's charged on the full sale amount or just the payment. If it's not on the full sale amount then we're off by an even wider margin unless the $365 includes the sales tax.

#83 of 173 Re: quick question on lease question [mefromfl] by qbrozen

Feb 29, 2012 (10:15 am)

Replying to: mefromfl (Feb 28, 2012 6:59 pm)
According to the info I found online, FL calculates the tax on the lease payment. So you can just take that $2094.87 out of your equation. Calculate the payment, then add your normal sales tax rate to the payment.
 
Your residual should be 22635.58. Is that correct?

#84 of 173 car lease by mefromfl

Feb 29, 2012 (3:18 pm)

yes residual is 22635
 
now they said they used a money factor of .0026
 
and they gave me a new quote with .0016 (that's what they said)
 
3919 down will be $339/month
 
that 3919 down includes doc fees, tag and 1st month payment
 
does that first money payment make a diffrence? that's confusing me
 
thanks for the reply

#85 of 173 Re: quick question on lease question [qbrozen] by mefromfl

Feb 29, 2012 (3:40 pm)

Replying to: qbrozen (Feb 29, 2012 10:15 am)
yes residual is 22636.58
 
is it better for me to pay off the dealer fees and tag fees first instead of putting all my money down as a cap reduction?
 
They are saying I can't use my rebate in the net cap cost total, i can use as a cap reduction though, isn't that same thing?
 
now they are charging me aqusation fees also since I found their numbers were wrong. Should i just walk away from them? they are puting some insurance fees etc in now without showing me the total selling price.

Messages Page 9 of 18

To POST a message, please Sign In.

Advertisement

Browse by Category

Browse by Vehicle
   View All Vehicles

Browse by Board
Browse by Topic
View All Topics

Edmunds Community

Advertisement