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Sorento Hybrid Lease Help
Was recently presented with the attached lease for a Sorento Hybrid EX. If anyone could help me out with 2 things:
1. Is the deal at MSRP a good one? I feel like it could be better.
2. I can't seem to replicate the calculations in order to arrive at the same monthly payment. I don't see how they arrive at 497 BEFORE tax. I get 497 AFTER taxes. If I double the MF then I can get to that number, but that's not listed on the offer.
Any help would be appreciated. Thanks in advance!
1. Is the deal at MSRP a good one? I feel like it could be better.
2. I can't seem to replicate the calculations in order to arrive at the same monthly payment. I don't see how they arrive at 497 BEFORE tax. I get 497 AFTER taxes. If I double the MF then I can get to that number, but that's not listed on the offer.
Any help would be appreciated. Thanks in advance!
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No incentives
I agree with the dealer math - $497/mo plus tax.
I don't know what these are selling for - look here for pricing help
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Adjusted MSRP + Doc Fee + Acquisition Fee - Down Payment - Adjusted Residual Value = Amount Financed
38225.00 +899 + 650 - 68.32 - 24081.75 = 15623.93
A MF of .00099 gives us an APR of 2.73% (.00099 * 2400)
Amount Financed * APR * Number of Years = Finance Charge
15623.93 * 0.0273 * 3 = 1113.60
(Amount Financed + Finance Charge) / 36 Months = Base Monthly Payment
(15623.93 + 1113.60) / 36 = 464
Monthly Payment * FL Sales Tax(7%) = Total Monthly Payment
464 * 1.07 = 497
497 with tax already included.
Don't convert the money factor to an APR. Use the formula exactly as shown.
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Edmunds Price Checker
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Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4