We are aware of the login problems affecting the forums, and appreciate your patience as we work on a fix.
Did you recently purchase a new Tesla, Rivian or Lucid vehicle directly from the manufacturer and willing to share how your experience compared to previous vehicle purchases made through a traditional dealer? A reporter would like to speak with you; please reach out to PR@Edmunds.com by 2/19 for details.
What am I missing in my lease calculations? LE hybrid

My last discussion was closed. I went to the dealer today to get quotes on an LE RAV4 hybrid.
Members here gave me MF= 0.0022 (Zip 20007) and resid= 67% for a 3 yr/36000 mile lease.
When I estimated monthly payments based on this, I got an estimate of ~$200, but the dealer gave me an estimate of $285/mo! Granted, the estimate was for 3 yr/30000 miles but I would imagine that would only bring monthly payments down.
Could someone let me know what I could be missing? The dealer was able to confirm the 0.0022 MF.
Here are the numbers:
MSRP: $29,959
Sales Price: $27,685
Recent grad discount of $500
Trade in: $500
Confirmed MF: 0.0022
Sales tax: 10.25%
Acquisition fee: $650
Processing fee: $799
Tag fees: $130
With $5000 down (I know this generally isn't advisable, but I have done extensive research and determined it's most important for me to have an extremely low monthly payment for the time being)
Thank you all for your help!
Members here gave me MF= 0.0022 (Zip 20007) and resid= 67% for a 3 yr/36000 mile lease.
When I estimated monthly payments based on this, I got an estimate of ~$200, but the dealer gave me an estimate of $285/mo! Granted, the estimate was for 3 yr/30000 miles but I would imagine that would only bring monthly payments down.
Could someone let me know what I could be missing? The dealer was able to confirm the 0.0022 MF.
Here are the numbers:
MSRP: $29,959
Sales Price: $27,685
Recent grad discount of $500
Trade in: $500
Confirmed MF: 0.0022
Sales tax: 10.25%
Acquisition fee: $650
Processing fee: $799
Tag fees: $130
With $5000 down (I know this generally isn't advisable, but I have done extensive research and determined it's most important for me to have an extremely low monthly payment for the time being)
Thank you all for your help!
Tagged:
0
Comments
$27685
-$1000 (grad/trade)
$26685
+$650
+$799
+$130
$28264 Gross CAP
$5000 upfront
-$285 first payment
-$450 upfront tax on CAP reduction (est)
$4265 CAP reduction
$28264
-$4265
= $23999 adjusted CAP
$206/mo.+tax = $227/mo.
Ask the dealer for the adjusted CAP, and how they calculated it.
I think you'll find there are extra charges they haven't told you about (GAP insurance, etc)
Also possible that their "Sales Price" already includes the $1000 for grad/trade.
That's another reason not to make a big downpayment. It clouds the picture, and the actual cost of the lease.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator