JohnAMG

I got back from the dealer today and got some numbers to go over. Here are the numbers.

MSRP: $72240
Negotiated price: $69000
Term: 39 months
Residual: 60%
Money factor: 0.00255
Cap reduction: $8000
Tax: $2718.14(pay cash)
Miles: 10K miles
Monthly payment: $848.25

***Final discount is $4000 off MSRP and the negotiated price is $68240. Not reflected in the calculation

I thought the monthly payment didn't look right so I went on www.leaseguide.com to use their lease calculator to go over the number again. And I found out according to their calculation, my payment should be $712 Can someone shed some light on this? Thanks.

John

captlst

I just did the numbers and came up with a payment of around 740 a month plus tax. Your payment will be a little higher because of the loan fee and the dealer fee but not as high as they are quoting you.

In my opinion the deal is not very good. I paid invoice for mine with not a lot of negotiating on a 69,000 sticker car. I did a 27 month lease with 3000 out of pocket for 1000 a month including tax. I have 15k a year.

Try www.leasecompare.com it is a great site and you may get a cheaper payment with the instant lease quote.


Here is the formula for calculating a lease

(Capitalized Cost – Residual Value) / Term = Monthly Depreciation
(Capitalized Cost + Residual Value) X Money Factor = Monthly Interest
Monthly Depreciation + Monthly Interest = Base Monthly Payment