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'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
April 11, 2010
2010 Honda Accord LX
Retail Pricing Information
Base MSRP 2010Honda Accord LX AutomaticModel CP2F3AEW .. . 21,855.00
Polished Metallic .. . 0.00
Destination Charge . . .. 710.00
MSRP .. . ... 22,565.00
Selling Price
Agreed Upon Value . 18,884.05
Amounts Financed (Capitalized)
AHFC Acquisition Fee 595.00
Medina Sales Tax @ 6.50% 36 206.93 .. .. 484.22
Capitalized Costs
Gross Capitalized Cost . 19,963.27
Capitalized Cost Reduction . 0.00
Adjusted Capitalized Cost 19,963.27
Residual Data
Residual Factor .. . . 0.60
Residual Value (Residual Factor × MSRP) .. . . . 13,539.00
Cost of Money/Term
Money Factor . . . 0.00127
Term (months) . 36
Lease Payment Itemization
Monthly Lease Payment . .. . . . 221.00
Taxable Monthly Lease Payment .. .. 206.93
Estimated Charges Payable at Lease Origination
License, Title, Registration Fees (estimated) . . ... .. 125.00
Amount Due at Lease Signing .. .. 125.00
Fund Provider: AHFC
GAP Coverage: Included
Annual Mileage Allowance: 12k
Disposition Fee: None
Excess Mileage Charge: $0.15 per mile
Medina Sales Tax 6.50% 36 206.93 .. .. 484.22
from the above post should read...
Medina Sales Tax 6.50% x 36 x 206.93..... 484.22
John
PS: Anything that is capitalized in a lease, taxes or otherwise, is going to be charged interest.
So paying upfront and paying monthly is essentially the same?
Only asking because I have 2 lease offers: 1 w/ all fees/taxes rolled into monthly payments and the other with much higher upfront costs including tax w/ lower monthly.
the higher upfront cost sounds cheaper in the long run but maybe i'm missing some additional fees.
John
So that OH lease you pasted, I can see that, if interest wasn't charged on the tax, the payment would be about 60 cents less. AFAIK, if you did that same lease in NJ, the payment would be $220.38.
Maybe I'll see if my sister can bring over her lease contracts we did a few weeks ago so I can take a look.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
If you have any questions about the lease contract, please let me know.
I'll be glad to address them.
John
MSRP 32890
Sell price 29576
Money factor.00010
Payment of $479/month with $1000 down + fees.
Is this a good deal?? :confuse:
I'm saying no, because that's what I've read. Are you saying yes or no?
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
If you wish your bank to pay the tax and then add the amount to your capitalized cost, then you will certainly pay finance charges on that amount...
NJ doesn't care.... they always get it upfront...
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John
TheAutoLeaseGeek
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
So, I'm trying to practice my calculations before going to the dealer today, but something doesn't add up. For the lease special offered at:
http://www.bmwusa.com/standard/content/Vehicles/2013/X1/xDrive28i/
with MSRP of $38,345, $725 Acquisition fee, $750 loyalty rebate, and $3,624 first month (including $2500 down, $725 acq. fee and $399 first month payment), I get monthly payments of $412 (pretax and excluding license and reg), when I use 0.0013 for money factor and 0.6 residual factor for 10,000 miles per year. (these are the values currently offered by BMW financials).
Here is my calculations:
Net Cap Cost = 38345 (MSRP) + 725 (acq. fee) - 2500 (down payment) - 725 (acq. fee paid upfront) - 750 (loyalty rebate) = 35095
Month depreciation = (35095-23007)/36 = 336
Interest = (35095+23007)*.0013 = 76
Total = 336+76 = 412
The only way that I can $399 seems to be if I include first month payment in "cap cost reductions", to bring the net cap cost down to $34696, which reduces the monthly depreciation to
$325 and the finance charge to $75 (total ~$400). But including first month payment in the "cap cost reduction" doesn't make sense to me. If I do that, should I then divide the total depreciation by 35 instead of 36 (since one month is already paid)?
Am I missing something?
Thanks much
There is an unspecified dealer discount in the advertisement...
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No, in reality I will negotiate and get (hopefully) a much better price than MSRP. I was just trying to practice to get the numbers posted on their website right.
So, there's a hidden discount somewhere. That makes much more sense.
Does anyone know what rationale the car makers use in keeping or pulling incentives from month to month? Is there any public source that can accurately estimate the next months deals?
Melech
http://townhall-talk.edmunds.com/WebX/.f1ba668/565
However, there is NO source that can tell you what next month's incentives will be. These aren't published anywhere because they would influence buying patterns, and also, because sometimes incentives are based on previous months' sales.
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Have a few questions on the sales tax on a lease quote I received for a 2013 Pathfinder Platinum Premium - 3 year/36K . I will list my details below but the total sales tax the dealer calculated on their lease worksheet came out higher then my calc. I am leasing in NJ.
MSRP: 44,645
Cap Cost : 41,000
Acq Cost : 595
Rebate: 675
Adj Cap Cost 40,920
Residual: 54%
Money Factor: .00056
The total sales tax that the lease worksheet I have is $1,351.20. I am coming in a little less then that if I base my tax calculation off of the total amount that I am technically "borrowing" which would be 16,811.70. Let me know if you have any insight on this topic.
Thanks!
Yes, I do have some insight on the way taxes are computed in NJ as it is done the same way in Ohio. What I need to know is your NJ sales tax rate.
John
TheAutoLeaseGeek
The tax rate in NJ is 7%
Something is missing. Did you capitalize the first payment and/or tax into the lease? If you email me the dealer worksheet, I'll be able to see exactly what's going on with this lease.
John
Jeff
autoleasegeek@zoominternet.net
John
Thanks for sharing the knowledge.
Here's the offer I have:
Cap cost:28872
MSRP: 33160
Purchase option: 16266.80
Residula: 48%
They didn't give me the MF but they came up with a monthly lease payment of 399 with $0 down and 1st month free for a 39 month lease period.
Is that a good deal?
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Also - is it common/uncommon/advisable or not to ask for service contract to be thrown in?
Thanks!
Question is, for the amount of money I will receive for my trade-in, the tax on the amount will far surpass the amount of taxes on the lease. What happens with the excess taxes? Applied to the lease? Or will I loose it? Thanx!
http://www.leaseguide.com/articles/texas-auto-lease.htm
You might want to do a google search and see how it works in the state where you live. But in no case (that I am aware of) do you get a "tax advantage" for trading in.
To answer the OP (I thought I answered this very question already... maybe in a different discussion): there is no excess tax refund because it isn't a refund, it is a credit, therefore it can never go less than zero.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
http://www.lolzilla.net/images/08507278119174813050.jpg
The deal is set up with $2k out of pocket for me. However when I plug all numbers into this lease calculator, I get around $1500 due at signing and a slightly lower payment:
http://www.lolzilla.net/images/89308216729744087755.jpg
Can anyone tell me what I am missing? What I am doing wrong?
Thanks
First of all, thank you so much for the info on how to calculate the lease payments.
I made a spreadsheet to run the numbers given the MF, Residual %age, Cap Cost etc.
Some of my numbers are coming out off from what I am reading on this forum. I would really appreciate if you can glance over the following image and let me know what am I doing wrong, will take just a couple of mins. The calcs are here: http://imgur.com/mKfzR8Q
Thanks!
Don't mean to steal Kirstie's thunder but your first column calculations look just fine unless your inputs are incorrect. Where are you seeing discrepancies?
John
TheAutoLeaseGeek
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Is this good ?
Is this fair ?
Does it mean anything without any other numbers like cap cost and residual and all that ?
NY State.
Thank you in advance for your answers, all !
Please let me know if I need to get certain info from dealer to share with you so you can answer more accurately.
I appreciate it. Please reply soon as I'm supposed to be signing in a couple of days.
http://townhall-talk.edmunds.com/WebX/.ef9da1d/0
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Hi.. general question: having difficulty figuring out how tax is calculated when leasing (in NJ @ 7%). is the tax applied to the base monthly lease (selling price less RV divided by lease term months) + monthly interest pymt (selling price + RV * MF)??
I ask b/c the dealer wants a down payment and i believe that he mentioned that the payment would cover tax in some fashion. So am I paying the tax upfront in the down payment and then again in my total monthly? if that is the case then aren't you paying tax twice?
or should i only be paying the tax on the monthly and that the down payment that is "supposed to go to tax" is actual cost cap reduction? but if you have already agreed upon a selling price, doesn;t that mean that that down payment is actually just reducing your incentives since your selling price is already agreed upon?
Can someone please clarify when the tax is or should be applied to a lease deal in NJ?
thank you in advance
0.50% APR and 55% residual
MSRP $25,702
Negociated $24,000
7% NJ Tax
36 months 10,500 miles
can someone please calculate. Thanks!
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
I'm looking to lease a 2015 Rouge SV (Prem Interior + Mats). I spoke to a sales manager last night and he came back to me with the following :
MSRP = 29,000
Selling Price = 26,225
MF = ? Won't tell me
Residual % = Wont tell me
Mo Lease PMT = 310
Mo Tax = 27.90
I have my own analysis where I'm manipulating the numbers to get to his payment and it looks like the tax of 27.90 is being calculated based on the residual value of the car. Is this correct? PA tax is 6%.
And, the tax rate is 9%, not 6%.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Pennsylvania sales tax is 6% of the purchase price or the current market value of the vehicle (7% for residents of Allegheny County and 8% for City of Philadelphia residents).
Buying or Selling Your Vehicle in Pennsylvania - PennDOT ...
www.dmv.state.pa.us/pdotforms/fact_sheets/fs-buysell.pdf
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
FYI, the lease sales tax rate is 10% in Pittsburgh.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4