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Don't know the ins and outs of leasing, but strictly looking at your numbers, the dealer is already showing a higher CC than yours:
Your Capitalized Cost = $84,676
Dealer CC = $86,013.82
The difference of about $1300+ but is offset by the residual of $54180 (your figure) vs $54525 (Dealer). So the main difference is roughly $1000 over 30 month, which is around $33 extra.
Looking just at that, your monthly payment of $1016 vs the dealer at $1049.63 is indeed roughy $33. So, at least that's almost a match.
However, the dealer is also computing interests payment of $150.37/month.
Maybe you forgot to do this part of the calculation? All you did was take the lease price of $84676 - $54180 = $30496 / 30 = $1016.53. You are in fact financing the $30496 and you have to pay interests on this amount which is what the dealer did in coming up with $150.37 extra. That's your interest on your "loan".
Yes, in your calculation you added 8% of depreciation into your payment over 30 months and did not factor in interest (money factor) on that depreciation.
Your dealer factored in the depreciation interest but also added 8% tax to your base payment, which is how many states figure the lease tax. It is based monthly payment, not total depreciation over the term.
Yes, in your calculation you added 8% of depreciation into your payment over 30 months and did not factor in interest (money factor) on that depreciation.
Your dealer factored in the depreciation interest but also added 8% tax to your base payment, which is how many states figure the lease tax. It is based monthly payment, not total depreciation over the term.
Thanks.
So:
Are his numbers legit based on MF and depreciation?
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