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Discussion Starter · #1 ·
If anybody out there is a lease calc expert, can you check my calcs. I can't seem to match the numbers provided by dealer (Ally is lessor).

I'm calculating a monthly of $776.01
The dealer is calculating a monthly of $826.15

The dealer has shown me the leasing screen and the base numbers match. Just the payment does not calc the same. He's $50 higher. Can someone here show me where the difference is?


MSRP: $55,090.00
Negotiated Price: $53,090.00
Rebates: -$3,250.00
Cap Cost: $49,840.00
Down Pmt: $0.00
Bank Fee: $595.00
Doc Fee: $635.00
Del Fee: $294.50
Lic Fee: $337.13
Net Cap Cost: $51,701.63

Residual %: 62%
Residual Value: $34,155.80
Term: 24 months
Depreciation Fee: $731.08
Money Factor: 0.00012
Financing Fee: $10.02
Lease Pmt $741.09
Sales Tax (4.712%): $34.92
Payment: $776.01

Dealer Offer: $826.15
 

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Long shot here but the difference may be GAP insurance for your lease - I did a quick search and it looks like Ally includes GAP coverage.
 

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You need to provide the information (I think most of it, all of it is there over the two groups of info, but please confirm). Does the car have about 3000 miles on it already? That Doc fee of $635. seems really high. The $294. "Del" delivery fee seems like a junk fee. If the $10.02 Financing fee is monthly, that too sounds like junk.

Term.
Residual %.
Money Factor.
Adjusted Capital Cost (purchase price)
Origination or bank fee.

Leave sales tax out of it, for now. Likewise registration and licensing. They are what they are.

Your credit score, approximately? Is it 760 or 780 or above? (It really just plays into if the Money Factor is the best available; not the calculations once you give us the established Money Factor.)

Let us know the deposit (if any), and if multiple deposits get you a lower Money Factor.

Both those monthly numbers seem high. But we can't tell without the full details.
 

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Discussion Starter · #4 ·
Onno:

Did you even read the post?

1. Why would you think the car has 3000 miles?
2. The financing fee of $10.02 is a calculation that is the (Net Cap Cost + Residual) * Money Factor
3. The Depreciation Fee is the (Net Cap Cost - Residual)/24
4. Lease Payment is Depreciation Fee + Financing Fee.
5. The Money Factor is not the issue. Even if it was, at a Money Factor of .00012, how much lower do you think you will go? It's already at 0.24%!
6. Credit score is not the issue.

I'm not asking about if the lease is a good deal or not. That's another discussion. I'm asking if the calculations for the lease payment are correct. My payment as laid out in the post do not match the dealer payment. I want to know if my calcs are wrong OR if my calcs are correct and the dealer is adding additional fees and not fully disclosing them.
 

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Might explain the Depreciation Fee: $731.08, thats why.

Never mind. My worksheet doesn't work with the way the numbers are provided. Sorry.
 
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