Those with recent leases with very low money factors......
07-12-2003, 01:40 PM
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Those with recent leases with very low money factors......
How did you folks get leases with money factors in the .00025-.00035 range?
Was it with Audi Financial? The best they could do was .0008....
Did you get very low residuals to go with your low MF?
As a leasee, I don't care what the numbers are as long as the payment is low---but how did you people get such a low interest rate?
Was it with Audi Financial? The best they could do was .0008....
Did you get very low residuals to go with your low MF?
As a leasee, I don't care what the numbers are as long as the payment is low---but how did you people get such a low interest rate?
07-12-2003, 10:20 PM
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Hey, Maybe you can help with a question I'm having...
Hey guys, am I doing anything wrong here? Here are the numbers;
MSRP: 47,535
Residual: 24,718.2 (52%)
Net Cap Cost: 43,000
MF: .00025
39 mo. lease
Tax: 8.5% (I'm in NY)
The dealer has given me a monthly lease number of $531.38. However, everytime I do the math I'm getting $526.97. That's a $5.00+ diff. and I just can't figure it out. I know it's only 5 bucks, but that adds up to almost $200. over the lease term and I'd rather have it in my pocket. Here's how I got my Calc;
Step 1: Cap Cost
Take selling price and subtract any down payments (done)...$43,000
Step 2: Vehicle's Residual Value
Multiply full MSRP by its residual value percentage...24,718.2 (52%)
Step 3: Vehicle's Total Depreciation
Subract residual value from cap cost...18281.8
Step 4: Vehicle's Monthly Depreciation
Divide total depreciation by the number of months lease...468.764
Step 5: Interest Charges
Add vehicle's cap cost and residual value and multiply the result times the money factor...16.929
Step 6: Calculate Monthly Payment
Add the monthly depreciation and the monthly interest charges...485.69 (pre tax)
Step 7: Calculate Total Monthly Payment (with Tax)
Multiply monthly lease payment by tax % and add it to monthly lease payment...526.97
Am I doing something wrong, or is the dealer?
Your help is greatly appreciated,
JB
MSRP: 47,535
Residual: 24,718.2 (52%)
Net Cap Cost: 43,000
MF: .00025
39 mo. lease
Tax: 8.5% (I'm in NY)
The dealer has given me a monthly lease number of $531.38. However, everytime I do the math I'm getting $526.97. That's a $5.00+ diff. and I just can't figure it out. I know it's only 5 bucks, but that adds up to almost $200. over the lease term and I'd rather have it in my pocket. Here's how I got my Calc;
Step 1: Cap Cost
Take selling price and subtract any down payments (done)...$43,000
Step 2: Vehicle's Residual Value
Multiply full MSRP by its residual value percentage...24,718.2 (52%)
Step 3: Vehicle's Total Depreciation
Subract residual value from cap cost...18281.8
Step 4: Vehicle's Monthly Depreciation
Divide total depreciation by the number of months lease...468.764
Step 5: Interest Charges
Add vehicle's cap cost and residual value and multiply the result times the money factor...16.929
Step 6: Calculate Monthly Payment
Add the monthly depreciation and the monthly interest charges...485.69 (pre tax)
Step 7: Calculate Total Monthly Payment (with Tax)
Multiply monthly lease payment by tax % and add it to monthly lease payment...526.97
Am I doing something wrong, or is the dealer?
Your help is greatly appreciated,
JB
07-13-2003, 06:06 AM
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Re: Hey, Maybe you can help with a question I'm having...
He probably built in a "dealer prep" charge that is about $180....
When was your lease done? Before 7/2 or after?
Also--use this calculator:
www.leaseguide.com
When was your lease done? Before 7/2 or after?
Also--use this calculator:
www.leaseguide.com
07-13-2003, 06:21 AM
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Lease was yesterday, 7/11. I just recalculated and you'rer right. there's an additional
$150. in the cap (43,150) Can they do this? if it's legit, I can still pay it upfront and bring my cap back to $43,000, correct? That's cool. I only put a deposit down yesterday. Guess I'll have to set this salesman straight on monday...
JB
JB
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