Quote:
Originally Posted by TurtleBoy
In case it helps, here is how to calculate the lease cost by hand. It may be easier to see exactly what goes into the monthly payment and will force them to give you all of the details of what they are doing.
MSRP: 76,170
Residual (MSRP x RV): 76,170 x .57 = 43,416.90
Gross Cap Cost (selling price plus fees being rolled into lease): 72,920 + 1,007 + 150 + 925 = 75,002
Adj Cap Cost (gross cap cost - down payment - rebates): 75,002 - 1,250 = 73,752
Monthly depreciation ((adj cap cost - residual)/36): (73,752 - 43,416.90)/36 = 842.64
Monthly rent ((adj cap cost + residual) x MF): (73,752 + 43,416.90) x .00112) = 131.23
Monthly tax ((depr + rent) * tax rate): (842.64 + 131.23) x .1 = 97.39
Monthly payment: 842.64 + 131.23 + 97.39 = 1,071.26
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Wow, thanks for the detailed explanation, really appreciate the time!
Edit: I went and checked the email from the dealer - they’re using 0.00147 *after* MSDs. That would bring it closer to their calculation.