I'm just doing some quick calculation. I don't get how people can get below $1k a month lease.
MSRP: $140,000
Sale Price: $114,000
Residual: 67% for 24 months or $93,800
MF: .00135
Tax Rate: 6%
Down payment: 0
Monthly Depreciation: $841 (114,000 - 93,800/24 months)
Interest: $280 (114,000 +93,800 x .00135)
Tax: $67 (6% x [$841 + $280]
Total: $1,188. This does not include tag, title, fees being rolled into the lease.
I understand MF can be reduced to roughly .00086 if you were to pull full MSD. Even with that it will my payments to roughly $1,088.
Was there any type of cash back/credits? According to edmunds, there is a $3,000 build out credit and a $2,465 lease credit. If that is true, then that is a reduction of $227 a month. Which can bring my payments down to under $900 with full MSD, and under $1,000 with no MSD.
Can anyone chime in please?
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EDIT: Just got this from the dealer.
24 Months
Money Factor .00138
10,000 Miles per year is 69%
12,000 Miles per year is 68%
Build Out Cash is $3000
Lease Credit is $2465