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Assumptions
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Car Info
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Price119,550
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Destination Fee1,650
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Vehicle Cost/Capitalized cost121,200
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Registration (NY)488
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Documentation Fee75
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Total Cost121,763
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Other Assumptions
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Sales Tax Rate (in NY)8.875%
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Scenario 1: Lease w/ Buyout
Scenario 2: Purchase with cash
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APR7.50%Purchase Cost121,200
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Money Factor0.003125Taxes10,757
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Num Payments36Other Costs563
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Federal Tax Break-$7,500.00Total Cost132,520
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Lease acquistion Fee$995.00
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Residual %60%Money saved with Leasing-$15,245.23
(negative means money lost)
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Net Capitalized Cost114,695
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Residual Value72,720
Check Math on diffs between Leasing and Purchase
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Tax credit for leasing$7,500.00
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Lease Payment finance fee$585.67Tax saved by leasing-$1,206.04
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Lease Payment principal$1,165.97Lease Fees-$1,445.00
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Lease payment (monthly)$1,751.64Interest Payments-$21,084.19
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Total payments$63,059.19Check (should be 0)-$990.00
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Upfront taxes$5,596.50
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Other Costs$563.00
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Net due at Signing$7,911.15
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Total Lease Cost$69,218.69
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Years to own the car5.69
(Leasehackr heuristic)
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Post-lease Buyout
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Residual Cost71,730
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Disposition Fee450
(estimated, no amount given yet)
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Tax on residual6,366
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Net Cost of Lease + buyout147,765
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