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Can someone help with numbers on RX 350?

sebejonesebejone Member Posts: 3
edited May 2016 in Lexus
I live in Boston Area, and have had discussions with local dealer and I can't seem to get to the same number they are for a 36 month lease.

MSRP: $53,439
Residual: $32,063
MF: .00130
15K Miles/year
MA Sales Tax: 6.25 %

NO MONEY DOWN, just drive off.
Dealership say $730/month.

I can't figure that out- I get just over $600/month given their numbers.

Can anyone explain what they have done?
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    kyfdxkyfdx Moderator Posts: 237,185
    sebejone said:

    I live in Boston Area, and have had discussions with local dealer and I can't seem to get to the same number they are for a 36 month lease.

    MSRP: $53,439
    Residual: $32,063
    MF: .00130
    15K Miles/year
    MA Sales Tax: 6.25 %

    NO MONEY DOWN, just drive off.
    Dealership say $730/month.

    I can't figure that out- I get just over $600/month given their numbers.

    Can anyone explain what they have done?

    Can't calculate a lease payment without the CAP cost or selling price. So, can't tell what either of you have done.

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    sebejonesebejone Member Posts: 3
    So, good question, and that must be the details I have not been able to get from them. They say that the selling price is $50,471. I have been calculating that as CAP cost, but not sure that is correct,
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    MichaellMichaell Moderator Posts: 241,316
    sebejone said:

    So, good question, and that must be the details I have not been able to get from them. They say that the selling price is $50,471. I have been calculating that as CAP cost, but not sure that is correct,

    Adjusted cap cost = selling price + taxes and fees you aren't paying up front - cap reduction amount (down payment)

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    kyfdxkyfdx Moderator Posts: 237,185
    sebejone said:

    So, good question, and that must be the details I have not been able to get from them. They say that the selling price is $50,471. I have been calculating that as CAP cost, but not sure that is correct,

    At $50,471, I get $619/mo.

    Of course, you'll have to ask the dealer what "just drive off" is going to be.

    The payment will be taxed. If MA rate is 6.5% (?), then that is $659/mo. after tax.

    That still leaves you $2500 short of their payment. Better ask for that adjusted CAP cost, and find out exactly how much they want at lease signing.

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