MSRP $44445
Sales $ 41387
Invoice $40387
------------------------BUY---------------------
Deal offered: 63 month, 2.9%
Will change: 60 month, 2.9%

----------------------LEASE---------------------
39 month, 59% residual value, 0.00185 Money Factor
$625/mth

The financing is simple loan calculation. I'm still not very familiar with lease. I kinda tried to do my own calcualtion but it came out different. Does the lease sound right?

 

I found the following equation online.


Legend
CC = Capital Cost (sales price after downpayment ect.)
RV = Residual Value (MSRP*Residual%)
MF = Money Factor
Months = Lease term

Monthly Depreciation = (CC - RV)/Months
Mothly Interest = (CC + RV)*MF
Monthly Rate = (Monthly Depreciation + Mothly Interest )*State car tax

 

The lease numbers you gave comes up to a monthly lease payment of 558.22, assuming your sales tax is from NY, 8.625%. So theres something definitely not right here. use http://www.leaseguide.com/calc.htm, its a lease calculator that gives you a step by step on how the payment is derived.

 

That's exactly why I asked the question. I have a spreadsheet that calculates both loan and lease based on equation from LeaseGuide.com and Edmunds.com. They both came out $50~75 more than I have calculated.

 

I'm getting $513.90 + tax with those figures with zero down, however I'm in California and inception costs (DMV fees) are different here vs. other states. The money factor is right on Tier 1 Equifax FICO credit with 15k annual miles (59% of MSRP residual), but I'm thinking that you might have included a trade-in, accessories, or something to raise the cap (amount financed).

 

No, I didnt tell them I would trade-in for the lease. Thats the basic thing I get from my previous post $41387, 59%, 0.00185, 39 months.

 

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