6MT

MSRP: $43,610
Invoice: $39,717

24 month lease, 15k miles/yr
71% residual
.00190 money factor

(assuming purchase at exactly invoice price)

(Cap Cost - Residual) / Term = Depreciation
($39,717 - $30,963) / 24 = $364.75 = Depreciation

(Cap Cost + Residual) x Money Factor = Interest
($39,717 + 30,963) x .00190 = $134.29 = Interest

Depreciation + Interest = Monthly Payment (plus tax)
$364.75 + $134.29 = $499.04 x 1.07 (tax) = $533.97

The other fees I would pay at signing....
Is $534/ month correct? It seems like people are leasing cheaper than that. Also, there is a $1,000 rebate for current Infiniti customers. Where would that come in?

Thanks in advance.

 

you are right on with your numbers...

i am paying 542 with junes rates on 24 month 15k and around a 40,000 sell price..

if anyone tells you differently they either put money upfront, they got different rates, or went thru a diff bank...

as far as the 1,000, from what i understand it is available if you currently have a car thru ifs, and it was put out there to basically compensate for the slip in rates from june to july...

 

They are leasing lesser priced vehicles or putting cap reduction down. Also, rates & residuals constantly change so the very same vehicle can lease differently month to month.Typically to driveoff, however you can apply it to cap reduction to lower your payment, but you will pay the full amount in inception costs.

 

Your calculating the tax on the cost + interest. Your only taxed on the depreciation. So in your case it would be $364.75 x 1.07 = $390.28 + $134.29 (interest) = $524.57 should be your monthly payment.

 

OK thanks.

I am currently leasing thru IFS... so at what point in the process is that $1,000 used?

 

Oh OK... so basically, if the dealership agrees to sell at invoice, then for figuring out payments.. it would be $1,000 less than invoice?? That would def make a difference.
You are just saying I cant use it toward inception fees?

 

really? i thought the tax was on the entire monthly payment? or does it depend on which state you are in?

 

I live in NJ as well. The state doesnt tax interest.

 

you do put tax on the interest or "rent charge" when calculating a lease

 

awesome. thanks!
the only thing is i will probably be buying in PA or NY (not even sure of their tax)
the dealer by me is horrible... i leased my last G at Infiniti of West Chester (PA)... and I was gonna go to Kenny from NY.. but he never returns e-mails or phone calls... so I guess I won't be going to him.

so anyway... PA is 7% too but i'm not sure if they tax on which amount.

 

What I am saying is that it's one or the other; adjusted cap cost is $1,000 below invoice or $1,000 credit toward driveoff due at signing.

 

ok thanks Dave

if I was closer... I'd come to you.

 

I too am from NJ, you are taxed on the monthly payments, what makes up the monthly payments? depreciation + interest. you ARE taxed on interest.

 

yeah thats what i thought...

 

I appreciate the compliment, thank you.

Bear in mind also that every state has different legal compliances concerning taxes. I helped RideWithG with his calculator, however that was based on California tax law. I know Texas for example work tax and equity differently in their calculations, so some states are just different in their tax laws.