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Epic Contributor
Creditaddict
Posts: 20,880
Registered: ‎10-23-2007
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Leasing Calculator, I still don't understand!! Help Please?

So I asked for all the numbers and surprisingly they came over this morning with no additional questions...

So I bought an APP to calculate and it is coming out within couple dollars of payment they are offering me but I still dont understand how I see this is a good deal or not?

 

Deal Number:                        Adjusted Cap Cost:   $   31,625.00
 Contract Date:            08/27/12              17) LMF:                       0.00117
 Next Payment Date:        08/27/12        18) Term:                           36
 Lease Institution:                  19) Sales Tax Rate:             8.7500%
 Stock Number:                       Base Monthly Rental:   $    357.71
 M.S.R.P.:            $   35,530.00               20) Mnthly Use Tax: 8.7500%$     31.30
 Residual %:                  59.00%             21)    Monthly Payment...:  $   389.01
 Residual Value:      $   20,962.70         22)    1 Pay Amt:     N
 Mileage Window:                                     23) TOTAL DRIVE OFF:     $    1,039.51
 Initial Cap Cost:    $   33,530.00
 AMO's:                                                      24) Security Deposit:
 Serv. Cont. Window:                              25) Sales Tax Window:      $  1,351.95
 Acq/WearCare(W):       $    595.00      26) Cap. Red. Tax:  8.7500% $   218.75
 Customer Cash Down: $  1039.51    27) License:               $    318.00
 Cash Cap Reduction:                           28) Acq,Doc,Tire Drvof:    $    107.35
 Trade Window.:                                      29) Working Cash Prmpt:
 Rebate:                $  2,500.00                          
 Total Cap Reduction: $    2,500.00     

That is based on 12,000 miles per year.

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
New Contributor
Cellice
Posts: 148
Registered: ‎07-04-2012
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Re: Leasing Calculator, I still don't understand!! Help Please?

I wouldn't buy it but that is because I'm leasing a Cadillac for 350 so paying 390 for a Kia would never happen. The deal isn't terrible. They seem to honest as upfront. You didn't want to pay more than 300 with no money down. Why would you accept close to 400 with 1k down for a Kia? The vw cc was a better deal 

Epic Contributor
Creditaddict
Posts: 20,880
Registered: ‎10-23-2007
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Re: Leasing Calculator, I still don't understand!! Help Please?


Cellice wrote:

I wouldn't buy it but that is because I'm leasing a Cadillac for 350 so paying 390 for a Kia would never happen. The deal isn't terrible. They seem to honest as upfront. You didn't want to pay more than 300 with no money down. Why would you accept close to 400 with 1k down for a Kia? The vw cc was a better deal 


just curiours because I looked online but not in person.... What Cadillac did you get (Lease? 2012? Cash down?)

Yes I would like to be at $300 and willing to go up to about $350 it is everytthing I dream of (LOL) kidding!

Im not going to pay $400 with $1k down which is why I asked for the numbers and then asked here because 3 monhts back I had basically the same car for $350 WITH Tax lease, but I "Might, I really can't remember but I may have been offering $1500 down.

So I mean obviously and I have said it multiple times I should have leased the Infiniti for $300/month with tax!!!

but trying to move forward because I can't change what has already happened, but I do have to be careful because Im getting so emotionally drained and fustrated I can feel myself being close to saying done and done and drive off in something I HATE

and the VW CC was not even close to a better deal, especially sense it had almost NO options!

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
New Member
wntrwhte
Posts: 6
Registered: ‎01-27-2012
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Re: Leasing Calculator, I still don't understand!! Help Please?

It's not a terrible deal. The MF works out to 2.81% and the residual is reasonably high. The problem you're facing is:

1. Your sales tax rate is incredibly high and 2. The cap cost reductions don't do much for you.

 

If you really want to stay under $300, and you can no longer get the infiniti, why not aim a little lower? That's an expensive car. $35k is nothing to shake a stick at and I don't think any Kia is worth that much, IMO.

 

Why not do something like the Verano? They are advertising a $199/mo lease right now on a decently equipped car. 24 months, includes maintenance. I think realistically to get the payment where you want with $0 down with no real 2012s left on clearance, you're going to have to reduce your price by $5000+.

 

Plus you're just shooting in the dark, you have no idea what car you want and are just shotgunning everything hoping someone will come out of nowhere and give you a porsche for $250/mo. You'd be a lot more successful if you knew what car you wanted, knew what you wanted to pay for that car, and quit just shopping blindly for anything with wheels.

Epic Contributor
Creditaddict
Posts: 20,880
Registered: ‎10-23-2007
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Re: Leasing Calculator, I still don't understand!! Help Please?


wntrwhte wrote:

It's not a terrible deal. The MF works out to 2.81% and the residual is reasonably high. The problem you're facing is:

1. Your sales tax rate is incredibly high and 2. The cap cost reductions don't do much for you.

 

If you really want to stay under $300, and you can no longer get the infiniti, why not aim a little lower? That's an expensive car. $35k is nothing to shake a stick at and I don't think any Kia is worth that much, IMO.

 

Why not do something like the Verano? They are advertising a $199/mo lease right now on a decently equipped car. 24 months, includes maintenance. I think realistically to get the payment where you want with $0 down with no real 2012s left on clearance, you're going to have to reduce your price by $5000+.

 

Plus you're just shooting in the dark, you have no idea what car you want and are just shotgunning everything hoping someone will come out of nowhere and give you a porsche for $250/mo. You'd be a lot more successful if you knew what car you wanted, knew what you wanted to pay for that car, and quit just shopping blindly for anything with wheels.


A big part of this is true...

1. I say no money down because you are almost never not going to have to fight it in the deal and then I can throw some in... but really I just want to walk in with everything done and we don't have to play games in the dealership... and I understand I have given out my credit like I'm trying to get it stolen (LOL)

2. tons of options for leases for $189 all the way up to $299 for VERY expensive cars, many are $2-$3k down... now I know I am not going to do that!

 

Hopefully I can post a final decision soon....

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:

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