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Also, am I doing this right? I really appreciate it. No taxes in NH, though I will likely get stuck with some paperwork fee.
Santa Fe Ltd Ult Circle Price: $40,947.55
- $3000 lease cash = $37,947.55
MF .00054
RV 52%
Monthly Lease Payment: $537.09
Monthly Depreciation $505.94
Monthly Interest $31.15
Monthly Tax $0.00
Money Factor Equivalent APR 1.30%
Upfront Payment $0.00
Total 36 Lease Payments $19,335.11
Residual is always a percentage of full MSRP.
I don't see the MSRP listed?
Also, it won't help your calculations to list an equivalent APR. That just confuses things.
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MSRP: $44,965.00
Residual (52%) $23,381.80
Sale Price (including lease cash) $37,850
MF .00054
RV 52%
36mo/12k
Monthly Payment $435
I used the calculator here https://www.edmunds.com/calculators/car-lease.html
The dealer is asking for $499/mo which seems outrageous compared to the edmunds number. They asked for a MF of .00094 and RV of $ 23,832 (53% of msrp). Even with the higher MV, the 499 sounds way too high.
With those numbers and prices, I get $435/mo with the base MF; $459/mo with the inflated MF
So, the question to put to the dealer is this - what cap cost are they using to get their $499/mo quote?
I'm sure the acquisition fee is in there; perhaps a dealer fee, as well. Knowing that cap cost number and how they got there should answer the questions about the payment difference.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I am not sure what cap costs are there, but $499 vs $435 = $64 * 36mo = $2,304. Whatever dealer fees they are soaking me on, it sounds like its a deal that I should walk away from. Agree?
Ive seen dealer costs between $200-$500. What is a reasonable acquisition fee? Google says $400-$900?
And, I'm sure the $499/mo quote is using the marked up MF; so, the delta we are looking for is 36*40=$1440. Less the acq fee, that leaves a gap of $790.
Then, you politely tell the dealer you won't sign a deal where the MF is marked up. If they hesitate, find another dealer.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Regarding residuals, based on the MSRP, should I be looking at the MSRP before or after the shipping fee, how about the options?
This is the car I am looking at.
https://www.mirakhyundai.com/external-catalog-services/rest/monroney/windowsticker?vin=KM8SRDHF6HU242757&status=2
Which MSRP should I be multiplying by the lease residual?
$41,150.00 (before options)
$44,965.00 (after options + F&H)
$44,015 (after options but not including $950 F&H)
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
thanks
For 2017 SE Ultimate AWD 36mo/12K in 03842
http://www.hyundaiguy.com/external-catalog-services/rest/monroney/windowsticker?vin=KM8SRDHF3HU223308&status=2
MF .00023
RV: 52%
+3000 lease cash (are there any other rebates?)
24/12
SE Ult - .00036 and 60%
Ltd Ult - .00064 and 60%
$4750 lease cash
36/12
SE Ult - .00047 and 52%
Ltd Ult - .00078 and 52%
$3500 lease cash
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
$3500 lease cash
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36/12: .00003 MF and 52% residual. $3500 lease cash
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No change for February
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Could I get RV and MF for 2017 Santa Fe SE Ultimate, 36/10k, 36/12k and 36/15k (98056).
I see you said 0.00003 above for one case. Surely that can't be right?
Assuming 36/12k is 52% and 0.00024, can you confirm these numbers:
- MSRP: $44,035
- Sale Price: $37,000
- Residual Value: $22,898.20
- Depreciation: $14,101.80
- Depreciation per month: $391.72
- Acquisition Fee: $595
- Finance Charge: $14.52
- Monthly Payment (Pre-tax): $422.76
What other costs should I be taking into account?- License/Registration Fee (Paid at signing)
- Document Fee (Paid at signing)
- 1st month payment (Paid at signing)
Lastly, does anyone have any advice on how to deal with dealers that tell you your calculations are wrong and give a much higher number?.00047 MF and 52% residual for 36/12
$3500 lease cash
Your calculations are correct, but add the acquisition fee, and anything else not paid upfront, to the CAP cost, before calculating depreciation and finance charges.
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My formula for depreciation is: Sale Price - Down Payment - Residual Value
My formula for finance charge is: (Sale Price + Residual Value + Acquisition Fee) * MF
Is that correct? Is there anything else not paid upfront I should be accounting for?
Do you track how much they charge per mile over?
Subtract 2% for 15K
No information on the excess mileage charge, but I think 20 cents a mile (I shredded my old Hyundai lease when I traded it in)
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Gross CAP cost minus CAP cost reductions (rebates or downpayments) = Adjusted CAP cost
Depreciation = Adjusted CAP minus residual
Monthly Finance = (Adjusted CAP + residual) X money factor
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OK, I think I have my head around this. I'm just confused by one thing now.
In your calculations, you use the Sale price in the Gross CAP cost calculation. The sale price is the final price you agree to, right? This, I would assume, includes rebates.
In your Adjusted Cap cost calculation, you reduce Gross CAP cost with the rebates.
Is this right? Surely this means your using the rebates twice
The adjusted cap is the gross cap plus any taxes or fees you aren't paying up front, less any cap reduction (down payment)
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
TIA.
$1000 lease cash
24 month term not offered on the Santa Fe
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Assuming FWD:
24/15
SE: .00024 MF and 57% residual
SE ULT: .00049 MF and 56% residual
Limited: .00040 MF and 57% residual
$4750 lease cash
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SE: .00003 MF and 50% residual
SE ULT: .00036 MF and 49% residual
Limited: .00070 MF and 49% residual
$3500 lease cash
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Add 1% for 10K
$1250 lease cash
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
$3500 lease cash
24 month term not offered on this model.
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$4000 lease cash
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Portland, OR
2017 Limited Ultimate AWD
- residual
- 36/12 & 36/15
- If no 36 options, 24/12 & 24/15
- lease incentives
- does the tech package add anything or is just tacked onto the price?
Michaell, you helped me two years ago and my lease is up next month. I have numbers for 2018, but there are still several 2017 models on the lot. I wonder if they are still leasing them and if there are any good offers.Thanks!
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
But, no 24 month numbers.
36/15 - .00059 and 49%
$3500 lease cash
Add 2% for 12K
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Thank you!