When trying to determine a fair target lease deal, that is how I'm currently doing it. Could someone please let me know if I'm doing it correctly?
A. When TMV is already less than Dealer Invoice
1. Find value of TMV of the car in my state
2. Subtract customer rebates that I find in Edmunds for my zip code from value found in step 1 (I understand some are already factored in the TMV, Edmunds mobile app posts a note for those cases, I would not subtract incentive in that case)
3. Subtract the lease cash posted by moderators in this forum for my specific vehicle and state (or is that already factored in the TMV)?
4. Subtract down payment
5. Add vehicle registration fees
6. Use MF and RV posted on forums to deterine monthly fees
7. Add sales tax to this figure.
B. When TMV is higher than Dealer Invoice
1. Find the Dealer Invoice for my state
2. Do I subtract lease cash and rebates here as well?
3. Subtract down payment
4. Add vehicle registration fees
5. Use MF and RV posted on forums to deterine monthly fee
6. Add sales tax to this figure.
I have the following questions:
A.Does the above sound right to you? Is it correct that sales tax is only relevant for the monthly lease payment in Florida? Should I tax the down payment before I subtract it from the base price?
B. Also am I correctly determining what should be my base number for negotiation (i.e TMV vs Dealer Invoice). I have heard that some people use a much lower number than the dealer invoice to minimize or negate the holdbacks profit for the dealer and then they have the dealership negotiate up from that point. Is that a correct way of doing it?
C. Lastly, my question to Florida resident, how much does it cost to register a vehicle for the first time? My calculations based on Honda Civic 2014 EX-L weight say $400 but my dealer has quote me $595 in addition to $70 "Electronic Filing Fee" (legit?) and a obviously fake $70 "lease surcharge fee" and $700 dealer fee!! I'm not sure if I'm calculating it incorrectly or the dealer is doing one more unethical trick on me. Can someone please confirm my number?