Lease Question attempt 2

nickkio

Am I getting any kind of deal in the following quote:
CX-5 Touring FWD

MSRP $26,785
Invoice $25,950
Rebate $300

Down Payment $-
Res Rate 58%
Term 36
Money 0.00013

Tax rate 3% ($9.80/month)

Lease 326.36

kyfdx

nickkio said:

Am I getting any kind of deal in the following quote:
CX-5 Touring FWD

MSRP $26,785
Invoice $25,950
Rebate $300

Down Payment $-
Res Rate 58%
Term 36
Money 0.00013

Tax rate 3% ($9.80/month)

Lease 326.36

That is the correct money factor and residual for 36mo, 12K on a 2016 model.

Is the selling price the invoice number that you list?

What we really need is the CAP cost.. the selling price plus any additions (like acq.fee), minus subtractions (the rebate?).

Just using the MSRP and invoice as selling price, I get $295/mo.+tax. Not too far off your quote, but we don't have the specifics.

How much money is due at signing?
What state do you live in that only taxes the payment by 3%?

kyfdx

nickkio said:

Thanks for getting back to me! The $25,950 is the dealer invoice. On the sheet they gave me the Selling price is $26,139 and the adjusted cap cost is $27,092. There is $345.36 due a signing. The lease cost I listed should have been $336.36, including the $9.80 taxes. I live in North Carolina.
Thanks

Then the calculations are exact.

Not much of a discount off MSRP, but they aren't padding anything else.

kyfdx

nickkio said:

Thanks! I guess here is what I was trying to figure (or back into): The Kelley BB and TrueCar websites indicate that in my area I should be able to get a discount of $700 or so off MSRP for a car configured exactly as the one the quote is based on. I do not know if these sights are realistic or not. However, what would the lease amount be if we assume $700 off. Can that be extrapolated given the data we have? Thanks

$700 off is basically the number I gave you.. I used the CAP cost you provided.

nickkio

Thanks for getting back to me! The $25,950 is the dealer invoice. On the sheet they gave me the Selling price is $26,139 and the adjusted cap cost is $27,092. There is $345.36 due a signing. The lease cost I listed should have been $336.36, including the $9.80 taxes. I live in North Carolina.
Thanks

nickkio

Thanks! I guess here is what I was trying to figure (or back into): The Kelley BB and TrueCar websites indicate that in my area I should be able to get a discount of $700 or so off MSRP for a car configured exactly as the one the quote is based on. I do not know if these sights are realistic or not. However, what would the lease amount be if we assume $700 off. Can that be extrapolated given the data we have? Thanks

nickkio

Thanks! I appreciate the help!