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How to Calculate Monthly Lease Payments

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Comments

  • Mike1BravoMike1Bravo 08081Posts: 26
    What do you suggest if the dealer doesn’t want to provide requested numbers? 
  • MichaellMichaell ColoradoPosts: 121,674

    What do you suggest if the dealer doesn’t want to provide requested numbers? 

    Find another dealer

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    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • piddlingpiddling ClevelandPosts: 1
    I was checking with the dealer calculations on a car, and he included the sales tax as a part of the net cap cost of a car, is that correct?
  • kyfdxkyfdx Posts: 128,188
    piddling said:

    I was checking with the dealer calculations on a car, and he included the sales tax as a part of the net cap cost of a car, is that correct?

    In Ohio, sales tax is collected upfront for the entire lease. If you aren't paying it upfront, it has to be added to the CAP cost.

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    Edmunds Moderator

  • Mike1BravoMike1Bravo 08081Posts: 26
    In New Jersey where the tax is rolled into the net cap, I’m having a really hard time trying to figure out how to come up with tax amount. Below was a quote I got from a dealer. Could someone give me the breakdown on exactly how they got this number? Thanks. 

    2018 Mazda 6 Signature:

    MSRP: $35,645

    Discount: $2,542

    Vehicle Selling Price: $33,103

    Document Prep Fee: $141

    License/Title: $300

    Acquisition Fee: $595

    Tax Collected (6.625%): $1,034.95

    Total Cap: $35,173.95

    Rebate: $360

    Down Payment ($1,000) - 1st Payment ($437.06) (subtract from cap): $562.94

    Net Cap: $34,251.01

    36 Month Payment: $437.06

    Money Factor: 0.00001

    Annual Mileage: 12,000

    Residual: 52% off of $35,645

    Residual Amount: $18,535.40

  • kyfdxkyfdx Posts: 128,188

    In New Jersey where the tax is rolled into the net cap, I’m having a really hard time trying to figure out how to come up with tax amount. Below was a quote I got from a dealer. Could someone give me the breakdown on exactly how they got this number? Thanks. 

    2018 Mazda 6 Signature:

    MSRP: $35,645

    Discount: $2,542

    Vehicle Selling Price: $33,103

    Document Prep Fee: $141

    License/Title: $300

    Acquisition Fee: $595

    Tax Collected (6.625%): $1,034.95

    Total Cap: $35,173.95

    Rebate: $360

    Down Payment ($1,000) - 1st Payment ($437.06) (subtract from cap): $562.94

    Net Cap: $34,251.01

    36 Month Payment: $437.06

    Money Factor: 0.00001

    Annual Mileage: 12,000

    Residual: 52% off of $35,645

    Residual Amount: $18,535.40

    $437.06 X 36 X .06675 = $1042.

    That's not exact but pretty close. They actually calculate the payment without the tax number added in, and calculate the tax off of the pre-tax payment.

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    Edmunds Moderator

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