What am I missing from my 2014 X5 lease calculation?
I am looking into leasing a 2014 X5 3.0d. Here are the numbers I used for lease calculation:
Vehicle price: $65,350
Sales tax: 9.25% (Northern California)
Title/registration/doc fee/etc: $651
Down payment: $3,000
36 months lease/15K
Lease residual $37,903 (56% according to dealer)
Money Factor: 0.0017% (according to dealer)
My own calculation using Edmunds online calculator comes out to be $952 per month including tax. However, dealer's estimate comes out to be around $1,011. I asked the dealer but he couldn't explain the discrepancy.
Any idea what I am missing from the calculation?
Thanks in advance.