Lease Calcs -- for WASHINGTON Money Factor: equivalent APR: Your Sales Tax Rate:
0.00204 4.90% 0.00%
Downpayment Calculation Total Down: $2,000.00 Less: Tax on TotalCapReduction DMV Lic + RTA fees WA Tire Tax 1st Month Pay LeftOver Cash CapReduction:
$0.00 $215.00 $0.00 $348.69 $1,212.68
MSRP
$34,710.00 Add up all of the options/accessories' MSRP here; also include $820 destination
RAQ Transaction Price:
$820.00
Tax DMV Lic + RTA fees Doc WA Tire Tax
$0.00 $215.00 $150.00 $0.00 $1,185.00
Total Cash: Minimum Downpayment: Maximum Payment: Term - #months & miles/yr 48/15,000 48/12,000 39/15,000 39/12,000 36/15,000 36/12,000
Usage Notes: Put your own data into one or more of only 7 GREEN high-lighted fields. Pretty much everything else is calculated for you. It is NOT recommended you change other fields; doing so could lead to inconsistencies.
$32,324.00 Inclusive of all Options and Accessories, except Destination/Tax/License/Doc
Destination
$33,509.00 What you would pay for a CASH purchase. REDUCE by portion of $7,500 you qualify for.
$823.48 $608.48 Residual 39% 40% 43% 44% 44% 45%
Term: #Months: Residual: RAQ Xact$ + Destination: Bank Fee: Doc Fee: Total Cap:
Cap Reduction: Net Cap: Residual: Total Depreciation: Monthly Depreciation: Monthly Interest/Rental: Base Payment: Monthly Sales Tax: Monthly Payment:
36/12,000 36 45% $33,144.00 $595.00 $150.00 $33,889.00
Pick from the drop down List. The values come from A20 to A25 Calculated Field; obtained from above cell Calculated Field; obtained from above cell aka "Capitalized Cost" Acquisition Fee added to Lease Financing Doc Fee added to Lease Financing
$8,712.68 $7,500 Federal Tax Credit plus "LeftOver Cash CapReduction" not used to pay fees $25,176.32 $15,619.50 Always a Percent of MSRP (not RAQ) $9,556.82 $265.47 $83.22 $348.69 $0.00 $348.69 <=== There it is ! Your monthly payment :-)
Total Monthly Base Pays: Total Sales Tax Paid: Other one time items: Disposition Fee: Total Lease Cost:
$12,552.84 $0.00 Incl. Sales Tax at Lease Start on CapReduction $215.00 Incl. 1st year DMV, but excl. Acquisition Fee because it is in monthly payments. $395.00 $15,162.84 What you would pay for the Lease if you don't BUY OUT.
Residual: SalesTax on Residual: Waived Disposition Fee? Total Lease+BUY Cost:
$15,619.50 $0.00 $(395.00) $30,387.34 What you would pay for the Lease if you don't BUY OUT.
Advantage: Purchase
$4,378.34 "Penalty" for Leasing if you qualify for the full $7,500 FedTax Credit
Notes and Disclaimers:
Note that the Penalty does not take into account any Purchase Finance Cost. Also note that 2nd+ year of DMV fees is not accounted for. 1st year DMV distorts the picture. Time Value of Money is NOT being considered herein.