BoxsterHopeful

Hey guys, crunching some numbers on my lease and can't figure out what numbers are accurate, even with the help of all of the online lease calculators. I used leaseguide.com/calc.htm, as well as Edmund's calculator, and the Bankrate.com calculator. LeaseGuide and Edmunds agree on the monthly price, but Bankrate says something different. I entered all of the same information in between all 3 of them so I'm not sure which one is accurate and thought perhaps one of you guys might know.

I'm crunching the numbers both with $0 down, as well as with $25K down. For $0 down, LeaseGuide and Edmunds give me a monthly payment of $1,279 including tax. But Bankrate says it would be $1,206. Not sure which is right.

Then for the $25K down, LeaseGuide and Edmunds both agree again, but I'm not sure they are right. Here's why: they say with $25K down, my payment would be $97/month. However, they both don't seem to account for tax on the $25K down, unless I'm missing something in the calculation. If they are taking that into account, GREAT, but I'm just not sure that they are.

Can anyone verify this? Here's the lease numbers. I'm trying to figure out what my monthly will be with $0 down and what it would be with $25K down.

MSRP: $77,660
Selling price: $71,201
Costs added: $1,548 (title, doc fee, acquisition fee)
Residual: $50,310
Money factor: 0.00200 / 4.8%
Term: 24 months
Sales tax: 8.35%

Thanks in advance for your help!

Just FYI: I'm not looking for advice about how I should buy instead of lease or that I should never put anything down on a lease, much less $25K. I'm aware of those concerns. Thanks!

TroyN

Porsche has a lease calculator too, have you tried theirs?

BoxsterHopeful

The problem is that theirs only calculates it on MSRP. I'm not paying MSRP. And if I put in the number I'm paying instead of the MSRP then it won't calculate the residual right since residual is based on MSRP.

TroyN

Your sales rep can run numbers for you, of course.

Dave I

Without factoring in the acquisition fees, the -0- down example I also come up with $1206/month. Not clear if those fees and other licensing fees are capitalized or paid when you drive off.

With the $25k down, I'm assuming that it includes $1,927 sales tax which would leave $20,891 cap reduction (difference between lease price and residual) and the remaining $2,182 would offset the residual. Since you've applied 2,182 against the residual, the monthly payment would be 48,128 x .002 = 96.26 before sales tax. Again, this doesn't consider the fees which are a little confusing as to whether they are capitalized or paid up front.

BoxsterHopeful

Thanks! but not sure I follow you there...

The $1,548 "Costs Added" that I mentioned above is the acquisition, doc, and title, which are ALL of the acquisition charges. I was simply rolling that into the monthly.

Great that you came to the same $97/month payment as Edmunds and LeaseGuide, however, they were saying that was WITH tax.

I'm totally confused. Now we've got one more number that is different from the rest. lol

BoxsterHopeful

Haven't gotten that far yet. If I ask them to run the numbers, they'll want to do the order immediately and I'm not ready to place my order for another week.

Dave I

Sorry, read through that too fast. I get 1206 with no fees including sales tax and 1279 with the fees including tax. $103/month including sales tax if you put 25k down and the 25 didn't include any sales tax. If it's 23,073 cap reduction + 1927 sales tax then I get $108/month.

Not sure the result can be $97/month including sales tax result can be possible as that would need to be ($97/1.0835) / .002 = 44,760 financed. With 25k down and a starting point of 71,201 + 1548 you would need to put down 30k plus sales tax to end up with 44,760 financed.

BoxsterHopeful

Thanks, Dave! I think that's right!

Plavan

Never put money down on a leased car. You crash it, you loose it. Plus, the whole time vs. money formula. If you can't afford the $0 down payments, you can't afford the car.

BoxsterHopeful

What kind of stupid argument is that? Any down payment you make is money you already obviously have and could just put into a separate bank account to draw against the monthly payments each month, thus effectively making the monthly rate the same as if you made the down payment.

I'm pretty sick of how presumptuous so many folks are with "yada yada yada means, you can't afford the car."

Let the person decide whether they can afford it or not. Unless you're their spouse or partner, you have no place to say.

Dr.Bill

Then don't ask us.

Plavan

Anyone thinking about putting that amount down on a leased car, would not of been able to think to put money in an account to draw on....
You are the one asking us, then maybe you should not ask on a public forum.

flaggrad00

Do not put the money down (not saying anthing else rather he can afford to or not) but he is correct you should put little to no money down on a lease, and especially not 25k.

But if you are dead set on it see if porsche offers a 1 time lease payment, I know BMW does with a drop in money factor. Hell 25K down you are almost there anyway.

Spyderfun

Boxsterhopeful you have received some good advice above.

I leased my 2011 Boxster Spyder for 36 months (recommend length for best money factor rate) and put only first month & fees. You NEVER put a large down payment on a leased car. If your interested in financing check PenFed's 1.49% rate https://www.penfed.org. I actually recently purchased for my wife(so I claimed-great tow vehicle) a 2006 Cayenne S via PenFed with 1.49% on 60 months and put the cash in money market account which will cover interest.

Perhaps you might want to look at purchasing a Boxster Spyder. Very rare and much more fun to drive. Hope that helps.