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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I've been trying to work with the dealership that both my husband and I have leased from for many years, but we are becoming increasingly frustrated - I'm hoping this group can help us. I've posted the quote they gave me for a 2017 x3 x28i - they keep sending the exact same numbers - the first time saying the money factor was .00169, now they say its .00134 but the results are the same. Their calculations say we have to put down $2500 for a %561 payment, when I calculate I get a slightly higher payment, but with NO money down. I need to know what are they doing with the numbers so I can come back to them with a knowledgeable rebuttal.
MSRP: 51,645
Discount: 3,100
Rebate:2,000
Cap cost: 46,545
acquisition fee : 925
dealer(doc) fee: 598
DMV : 80
Tax : 95
Total price : 48,243
My final quote says the Final Selling price is 48,499 ( I couldn't understand the 250$ difference)if I am missing
anything here.
Residual : 63%
Money factor : .00114 (fleet MF, otherwise it is .00134)
After 7 MSDs it : .00065
First down payment: 2000$ (includes first month payment) + 3500(7 MSDs)
Monthly : 460.68$
Monthly(without MSD) : 506$
This is North carolina State, Sales tax is 3%
Please tell me
Are the numbers for monthly payment correct?
Is this a good deal?
How do i calculate the exact rates?
Next, 36 months is the best term, so ignore everything else.
Then, I don't see the acquisition fee of $925 mentioned anywhere.
If I subtract the tax amount from the "Balance" amount, and use the base MF of .00134 and 64% residual for 36/10, I get $505/mo plus tax, with $0 cap reduction.
Ask the dealer for the "adjusted cap cost", and how they get that number from the "total purchase" price.
This has gotta be an AutoNation dealer - I'm starting to recognize the form they use for lease quotes. Very misleading.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Using your numbers, as is, I get $496/mo before tax.
Confirm the adjusted cap cost with the dealer, and make sure you understand how they arrived at that number.
Use this link to build your own lease calculator:
http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
In answer to your questions:
Remind us what state this is? **Maryland. The taxes are correct, I went to the MD website and figured it out so its accurate, and its due for full value of car.
Next, 36 months is the best term, so ignore everything else. **I intend to lease for 36 months.
Then, I don't see the acquisition fee of $925 mentioned anywhere. **It is incorporated into the $53,170 number from the vehicle locator sheet they sent me (no vin - won't give it to us)
If I subtract the tax amount from the "Balance" amount, and use the base MF of .00134 and 64% residual for 36/10, I get $505/mo plus tax, with $0 cap reduction. **I got the same number using your residual and MF - so I'm understanding this process a little better
Ask the dealer for the "adjusted cap cost", and how they get that number from the "total purchase" price. ** That is exactly what I need to ask them - thank you! I have been trying to figure out what information I need that they are not providing us...I will ask tomorrow - I have a feeling it will enlighten us - is something 'not quite right' with their numbers?
This has gotta be an AutoNation dealer - I'm starting to recognize the form they use for lease quotes. Very misleading. ** they also keep telling me that if I bring in my current lease they can determine if they can use it as a trade in to get a credit toward a part of the taxes I owe on this lease - not sure how that works??
Yes, you can add the tax obligation to the cap cost and increase the monthly payment. In fact, that's our preference - if the car is stolen or totaled before the lease is up, you think the state of Maryland will refund you the taxes you paid up front when you signed the contract?
(my guess is no)
If I add back the sales tax, the payment is $590/mo. Getting the adjusted cap cost should expose the $45/mo delta to the dealer quote (about $1600 total).
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
"Then, I don't see the acquisition fee of $925 mentioned anywhere. **It is incorporated into the $53,170 number from the vehicle locator sheet they sent me (no vin - won't give it to us)"
$53,170 is the MSRP. The acquisition fee isn't in that number.
The $925 will be in the adjusted CAP cost, though.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
The acquisition fee is a lease-specific fee that goes to the bank.
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That is costing you about $17/mo, over the base MF of .00134
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
So, nothing hidden in the price, just the MF bump is costing you a bit extra each month.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
This is why we suggest you build your own spreadsheet.
And, my question isn't where it comes from, but what fees does it cover.
Yes, my calculated payment is higher than the dealer quote.
The math is the math - it's all about getting the same numbers the dealer is using. Often, they hide something.
Yes, it's rare for my calculations to come out higher than the dealer quote - but that sometimes means there is money down that we don't recommend.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
EDIT - my calculation is for the base MF of .00134, their $4635 number is for the inflated MF of .00154.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
($49589 + 34028) = $83617
$83617 X .00134 = $112.05 per month
$112.05 X 36 mo = $4033.80
Substitute .00154 for .00134, and the rent charge agrees with their number.
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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
BTW, I dont think it is a very good deal, since there is $1500 incentives from corporate and $1000 from blackfriday lease incentive. With that been said, I expect at least 14% off MSRP instead of 11.4% off
Monthly Payment (Excl. Tax): $430
Monthly Payment (incl. tax): $468
Drive Off: $5,476
First month's payment incl. tax: $468
Down payment: $0
Total MSD payment: $3,500
Registration and doc fee: $492
Tax on cap cost reduction and fees: $91
Acquisition fee: $925
Leasehackr Score: 10.3 years
Disposition Fee: $350
Total Lease Cost: $18,313
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Your leasehackr inputs are wrong. You show the acquisition fee being paid upfront in that example, but the screenshot from the dealer has the acquisition fee added into the lease payment. (which likely accounts for most of the variance in payment)
I agree... .MSDs should be 7 X $500 = $3500.
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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
Thank you
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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
Here is the quote I got recently
xDrive28i+Cold weather+Driver assistance plus+Premium+Navigation
MSRP 50,500
Selling price: 47500
Residual: 32636
Lease monthly: 543 Tax included(PA)
No MSD, No Cap Reduction
Acquisition Fee: 925+DMV 135+Doc Fee 135+Tax on Fee 83.25 = Total cash on delivery 1821.39
Money Factor: .00114
Term: 36 months/10K
Please let me know, is this a good to go ?? any room for negotiation?
1)If i were to turn in the car much/before my lease term, what happens to my MSDs? Do i get them back?
2)My dealer was telling me that, they would not charge me if i am little over my agreed miles for my lease term,(mine is 3yr/12000 miles) is that true/possible
Please reply soon
Because that money factor is below the base number of .00134
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2) That's wrong. If you are over, you'll be charged.
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Only includes navigation and backup camera
Money factor is marked up the maximum from .00134.
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