I'm reviewing my lease paperwork. I am leasing an inventory car (Model X 100D) that has been marked down ~$11k (including $1k referral credit).
My numbers look like this:
A. Gross Cap Cost: $110,762.00
B. Cap Cost Reduction: 2348.54
C. Adjusted Cap Cost: $108.413.46 (this looks like it's just A-B)
D. Residual Value: $71,330.00
E. Depreciation: $37,083.46
F. Rent Charge: $13,588.56
G. Total of Base Monthly Payments: $50,672.02 (this looks like it's just E+F)
H. Lease Payments: 36
I. Base Monthly Payment: $1,407.56 (this looks like it's just G/H)
J. Monthly Sales Tax: $125.27
Total Monthly Payment: $1,532.83 (this looks like it's just I+J)
The lease money factor is 0.0021 (interest rate 5.04%).
My question is on line item "F" - what is this and how do they calculate this? This number looks high to me if it's just interest payments over 36 months based on $37k at 5.04%?
RVD.
My numbers look like this:
A. Gross Cap Cost: $110,762.00
B. Cap Cost Reduction: 2348.54
C. Adjusted Cap Cost: $108.413.46 (this looks like it's just A-B)
D. Residual Value: $71,330.00
E. Depreciation: $37,083.46
F. Rent Charge: $13,588.56
G. Total of Base Monthly Payments: $50,672.02 (this looks like it's just E+F)
H. Lease Payments: 36
I. Base Monthly Payment: $1,407.56 (this looks like it's just G/H)
J. Monthly Sales Tax: $125.27
Total Monthly Payment: $1,532.83 (this looks like it's just I+J)
The lease money factor is 0.0021 (interest rate 5.04%).
My question is on line item "F" - what is this and how do they calculate this? This number looks high to me if it's just interest payments over 36 months based on $37k at 5.04%?
RVD.