on my lease deal
6. Your Monthely payment is determined as shown below
A. Gross Capitalized Cost (69500.00) then $72966.50 (Sticker)
B. Capotalized Cost Reduction: -$3580.5
C. Adjusted Capitalized Cost: =$69386.00
D. Residual Value: -$38712.60
E. Depreciation and any amortized amounts: =$30673.4
F. Rent Charge: +$7627.36
G. Tatoal Base Monthly Payment: =$38300.76
H. Lease Payments: /36
J. Base Monthely payment $1063.91
L Total Monthely Payment $1063.91

My question to people who leased, what is the rent charge of $7627.36


the whole thing is this
"F. Rent Charge: The Amount Charged in addition to the Depreciation and any amortized amounts" what is this and how did they calculaed this???

 

It's your cost of money, cus you borrow the whole amount, not just the depreciation, which is the only portion of principal you knock down. The balance of the principal=residual. Get it?

 

not really, but how did they calculated this amount

 

What do you mean? That is your cost of money. It is based upon your money factor an/or interest rate applied to the gross principal.

 

the rent charge is the total finance charges during the life of the lease. the MONTHLY rent charge is

(net capitalized cost
+
residual)
x
money factor

so you'd multiply that by the # of months of your lease.

from my calculations, it looks like your money factor was .00196

did the dealer tell you the money factor?

 

That's exactly what I said.

 

yes, they said its about 0.00192

over all, what do u think? did i get a good deal?