LEAF_Lease_Decision_WA-v2
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Lease Calcs -- for WASHINGTON
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Money Factor:0.00204MSRP$34,710.00Add up all of the options/accessories' MSRP here; also include $820 destination
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equivalent APR:4.90%
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Your Sales Tax Rate:0.00%RAQ Transaction Price:$32,324.00Inclusive of all Options and Accessories, except Destination/Tax/License/Doc
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Downpayment CalculationDestination$820.00
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Total Down:$2,000.00
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Less:Tax$0.00
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Tax on TotalCapReduction$0.00DMV Lic + RTA fees$215.00
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DMV Lic + RTA fees$215.00Doc$150.00
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WA Tire Tax$0.00WA Tire Tax$0.00
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1st Month Pay$348.69$1,185.00
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LeftOver Cash CapReduction:$1,212.68
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Total Cash:$33,509.00What you would pay for a CASH purchase. REDUCE by portion of $7,500 you qualify for.
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Minimum Downpayment:$823.48
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Maximum Payment:$608.48
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Term - #months & miles/yrResidual
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48/15,00039%Term:36/12,000Pick from the drop down List. The values come from A20 to A25
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48/12,00040%#Months:36Calculated Field; obtained from above cell
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39/15,00043%Residual:45%Calculated Field; obtained from above cell
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39/12,00044%RAQ Xact$ + Destination:$33,144.00aka "Capitalized Cost"
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36/15,00044%Bank Fee:$595.00Acquisition Fee added to Lease Financing
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36/12,00045%Doc Fee:$150.00Doc Fee added to Lease Financing
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Total Cap:$33,889.00
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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.Cap Reduction:$8,712.68$7,500 Federal Tax Credit plus "LeftOver Cash CapReduction" not used to pay fees
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Net Cap:$25,176.32
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Residual:$15,619.50Always a Percent of MSRP (not RAQ)
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Total Depreciation:$9,556.82
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Monthly Depreciation:$265.47
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Monthly Interest/Rental:$83.22
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Base Payment:$348.69
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Monthly Sales Tax:$0.00
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Monthly Payment:$348.69<=== There it is ! Your monthly payment :-)
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Total Monthly Base Pays:$12,552.84
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Total Sales Tax Paid:$0.00Incl. Sales Tax at Lease Start on CapReduction
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Other one time items:$215.00Incl. 1st year DMV, but excl. Acquisition Fee because it is in monthly payments.
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Disposition Fee:$395.00
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Total Lease Cost:$15,162.84What you would pay for the Lease if you don't BUY OUT.
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Residual:$15,619.50
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SalesTax on Residual:$0.00
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Waived Disposition Fee?$(395.00)
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Total Lease+BUY Cost:$30,387.34What you would pay for the Lease if you don't BUY OUT.
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Advantage: Purchase$4,378.34"Penalty" for Leasing if you qualify for the full $7,500 FedTax Credit
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Notes and Disclaimers:Note that the Penalty does not take into account any Purchase Finance Cost.
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Also note that 2nd+ year of DMV fees is not accounted for. 1st year DMV distorts the picture.
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Time Value of Money is NOT being considered herein.
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WA LEAF_Lease