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Is it best to use it to pay down the MF? Should it be applied to the net cap cost or final negotiated price? The later appears to be just like a down payment thus going with the thinking that you should NOT put down money on a lease that wouldn't make sense.
Thank you!
1. Reduce the cap cost - yes, we recommend you not doing this, but only with your own money.
2. Offset the up front costs of the lease - bank fee, first payment, etc.
Not sure you can use the incentive money as MSD.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thanks again for your help! I had to take the salesman as well as the finance girl he put on the line to the woodshed this morning. Finally got the sales manager on the phone and she confirmed that I was correct (actually you were correct!
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Prestige - 36 mo/10k = .00111 / 56%
P+ - 36/10 = .00111 / 59%
Also, does getting Audi Care still add 1% to both? Thanks ahead of time for the help.
I’m looking to make the plunge from a BMW - that’s all I’ve ever had after I graduated and could upgrade from a 12 year old Honda civic
I’ve always gone for the CPO but looking to lease a new 2016 A6 2.0T Quattro Prem Plus. The details are:
Brilliant Black or Mythos Black
S Line Package
LED Light Package
Net Price $55,710 (Minus $1500 competitor Incentive )
MF: 0.00110
36 Months/10k Miles
3k Down payment (I know, not ideal but I need to keep the payments down)
Monthly Payment including tax (MA) = $461
What do you think?
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Can't calculate a payment without both the MSRP and selling price.
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MSRP: $57,725
Adjusted Price: $ 53,889
Doc Fee: $300
Tax: $3293.34
Acquisition Fee: $695
Electronic Registration Fee: $20
Registration Fee: $308
36 months | 10,000 miles/year
$0 down: $809/month
$2500 down: $736/month
$5000 down: $663/month
I was told that the residual value is 59%. How do I find out what the Money Factor is? Does this look like a good deal?
Is the tax applied on the purchase price or the on the difference between purchase price and residual value?
Any help would be greatly appreciated.
$367/mo. for 36/10, $381/mo. for 36/12
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2) Base MF is .00110. You'll have to ask them to disclose the MF they are using.
3) Don't know what state you live in, so can't comment on the tax treatment.
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Thank you for responding. Your answers are very helpful. I live in MD. Would you happen to know what the tax treatment in MD is?
My dealer told me that the interest rate is 2.75%. So then the money factor is 0.00114. Based on the numbers I have provided, would you be able to calculate the lease payment for me?
One last question; does the money factor depend on my credit?
My dealer told me that the interest rate is 2.75%. So then the money factor is 0.00114. Based on the numbers I have provided, would you be able to calculate the lease payment for me?
One last question; does the money factor depend on my credit?
He just rounded it to 2.75%.. Audi doesn't use APRs. If that's what he quoted, then the money factor should be the .00110 base. The base money factor can be higher, if you fall into a lower credit tier. That increase is not the same as the dealer marking up your money factor for extra profit, though.
Unfortunately, Maryland is a "full-tax" state on leases. You pay tax on the full purchase price of the vehicle, even though it's a lease. That doesn't help the payment, but nothing you can do about it, unless you want to move to New Jersey.
If I roll in all of the costs above into the CAP cost, including the 1st payment ($0 due at signing), I get $803/mo. using 59% residual. That's pretty close to their quote.
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Total Monthly Payment = Depreciation Fee + Finance Fee
Depreciation Fee = ( Net Cap Cost – Residual ) ÷ Term
Finance Fee = ( Net Cap Cost + Residual ) × Money Factor
Net Cap Cost = 53889+149+3293+300+308+695+20 = $58505
Residual Value = 57725*0.59 = $34058
Dep Fee = (58505-34058)/36 = $679
Fin Fee = (58505+34058)*0.00114 = $105
Total Payment = $679 + $106 = 785
Thank you.
I rolled the first payment into the CAP cost, as well. Your math is correct.
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MSRP $54505. Sales price $52279 (roughly 4% off). MF .00067 and residual 55%, 36/10k
$3544.00 drive away (includes taxes, 1st payment, $695 bank fee, $97.50 NYS fee), $615/month payment.
Is there room for improvement in any areas? Dealer says sales price already includes $800 current discount. I dont qualify for any other incentives (not a return customer and I do not currently own a qualifying vehicle for additional discount). Thank you in advance for your input.
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Not sure where you saw about going below the base rate, but that's not correct. Base means base... that's the lowest.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
You don't think I can get a lower MF (interest rate) through a different lender?
And, the end of lease issues may be more daunting with a 3rd party bank...
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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@kyfdx - One last question on RV and MF. Can RV and/or MF change with time for the same type of vehcile?
1) A6 2.0T, Premium+, Tiptronic
> 36/12
> 36/10
2) A6 2.0T, Premium, STronic
> 36/12
> 36/10
3) A6 2.0T, Premium+, STronic
> 36/12
> 36/10
Thanks in advance for the information and any advice.
Not sure exactly what you are asking.. is one of those FWD and the other Quattro? Lets assume 1) is FWD and 2) and 3) are Quattro.
1) .00089 MF and 56% residual
2) .00110 MF and 59% residual
3) .00110 MF and 58% residual
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To answer your question, Tiptronic is the transmission used when talking about Quattro and Stronic for FWD.
1) Quattro
2) FWD
3) FWD
2. .00037 and 53% / 54%
3. .00037 and 52% / 53%
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
1) A6 2.0T, Premium Plus, Quattro
2) A6 2.0T, Premium, FWD
3) A6 2.0T, Premium Plus, FWD
Correct? I already got some rates from the dealer and they are not at all in line with these.
@michaell quoted 2015 model numbers..
2016: 36/12 ... Add 1% for 10K/yr
1) Premium Plus Quattro: .00110 MF and 58% residual
2) Premium FWD: .00089 MF and 58% residual
3) Premium Plus FWD: .00089 MF and 56% residual
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Hope you can comment. I'm about to lease a 2016 A6 2.0 premium plus with audicare. Is the base money factor still 0.00110 and residual 59% for 3yr 36k lease?
My dealer just quoted me 0.00140.
Also is AFS still allowing MSD to buy down money factor? My sales guy has no clue
Thanks in advance
Dealer can mark up the MF for extra profit. You want the base rate; be firm but polite.
I believe MSD can be used ... 9 @ .00005 reduction each.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2016 A6 2.0 premium plus
fwd and quatro
15k / 36 months
thanks
2016 A6 3.0T Prestige 36mo/15k
2016 S6 P+ 36 mo / 15k
2016 S6 Prestige 36 mo / 15k
Thanks!
AWD: .00092 MF and 55% residual
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.00072 MF and 53% residual
.00072 MF and 50% residual
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