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2016 Subaru Forester 2.5i Premium w/ All-Weather Pkg + EyeSight Lease Question
Hi,
It's my first time leasing a car and i've been working through understanding all the intricacies online but am still a little lost. This is the deal i've been offered in California and i was wondering if the numbers look off / there is negotiating room here that i haven't understood.
I'm looking to purchase a 2016 Subaru Forester 2.5i Premium w/ All-Weather Pkg + EyeSight for an MSRP of $29,630. Here is the calculation from the dealer for my monthly payments:
Residual: 63% / $18,666.90
MF: 0.00160
Term: 36 months
Selling Price: $27,695
Capped Fees: $1,003.75 ----what's the capped fee?
Cash Capped Reduct: $1,538.33 --- what's this?
Ttl Capped Reduct: $1,538.33
Adjusted Capped Cost: $27,160.42 -- how did they come up with this number?
Total taxes: $1,045.27
Drive off: $2000
Base monthly rental: #309.25
Payment: $334.76
I have an excellent credit score and the pricing above is for 12k miles/year. They also wanted to throw in a maintenance package for $1900 but that didn't look like a good deal.
They mentioned that they are selling the car for $500 above invoice. How can i verify this and should cars usually be below invoice or much above it?
Thanks for your help.
It's my first time leasing a car and i've been working through understanding all the intricacies online but am still a little lost. This is the deal i've been offered in California and i was wondering if the numbers look off / there is negotiating room here that i haven't understood.
I'm looking to purchase a 2016 Subaru Forester 2.5i Premium w/ All-Weather Pkg + EyeSight for an MSRP of $29,630. Here is the calculation from the dealer for my monthly payments:
Residual: 63% / $18,666.90
MF: 0.00160
Term: 36 months
Selling Price: $27,695
Capped Fees: $1,003.75 ----what's the capped fee?
Cash Capped Reduct: $1,538.33 --- what's this?
Ttl Capped Reduct: $1,538.33
Adjusted Capped Cost: $27,160.42 -- how did they come up with this number?
Total taxes: $1,045.27
Drive off: $2000
Base monthly rental: #309.25
Payment: $334.76
I have an excellent credit score and the pricing above is for 12k miles/year. They also wanted to throw in a maintenance package for $1900 but that didn't look like a good deal.
They mentioned that they are selling the car for $500 above invoice. How can i verify this and should cars usually be below invoice or much above it?
Thanks for your help.
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Comments
Your dealer is marking up the money factor the maximum allowed.
Capped fees are the acquisition fee and title/registration/doc fee (I'm guessing). They are "capped", because they are added to the CAP cost.
Cap reduction is the amount of the money you give them that is applied as a CAP cost reduction (downpayment). Your $2000 is 1st payment ($334), CCR ($1538) and tax on the CCR (about $128).
So, the capped fees are added to the selling price, then the CCR is subtracted giving you the adjusted CAP cost.
The calculations are correct. If they used the base MF, the payment would drop to $286/mo.+tax, or about $310/mo.total.
We don't track selling prices, though $2000 off MSRP seems pretty good for this model. Of course, they are making $900 of that back on the inflated money factor.
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