09-10-2014, 10:42 AM | #1 |
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2014 Residuals
Working a possible deal on a leftover 2014.
MSRP 115225 Currently at 106k. I wont buy at this price. I want to be closer to 100k. Does anyone have the current September residuals for leftover 2014s? Thanks |
09-10-2014, 11:30 AM | #2 |
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Also - silly question. Is the residual price based on MSRP or Negotiated price?
ex - Residual of 62% 100k MSRP 90K Negotiated Price Is residual value $62k or $55.8k? Sorry for the dumb question. Im finding directly contradictory info on the net. |
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09-10-2014, 11:49 AM | #3 |
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Residual is based on MSRP! in your case it's $62K
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09-10-2014, 12:13 PM | #4 |
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How about this deal (Completely different car and this is a 2015 Euro Delivery):
MSRP $99,550 Sale Price $86,045 MF 0.0013 Residual .62 36 months Tax rate 6.875% Was quoted $1048 by Dave. Im coming up with $927.42 on bankrate.com's calculator I dont doubt that I probably screwed something up. Last edited by Eric; 09-10-2014 at 01:59 PM.. |
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09-10-2014, 01:59 PM | #5 |
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I know I keep responding to my own thread... the dealer just quoted me 60% residual on a 2014 for a 36mo/10k mi lease.
Pretty hard to justify leasing a 2014 unless its like 15%+ off sticker price. Much better off ordering a 2015 for ED with a 62% residual, it seems. The dealer is holding firm to the 106k price for a $115225 MSRP. (8% discount) Not a good deal at all, especially with the 60% residual. How do you guys negotiate so far below MSRP with your local dealers? These guys act like I'm getting the deal of the century at 8%. |
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09-10-2014, 03:14 PM | #6 |
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I posted this calculation in another thread the other day...
Your total lease payment = (Sales price - Residual) + 36*MF* (Sales price + Residual) + fees Where fees are : Registration, Documents, Acquisition,... So if you pay all fees up front (~ $1500) then your monthly lease payment is 1/36 of total lease payment + tax (on monthly depreciation fee and rent fee)
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09-10-2014, 04:42 PM | #7 | |
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Quote:
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09-10-2014, 04:53 PM | #8 | |
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Quote:
Does the $2500 Buy Out still exist? |
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09-11-2014, 08:59 AM | #9 | |
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Quote:
(86045-60725.50) + 36 * 0.0013 * (86045 + 60725.50) (25319.50) + .0468 * 146770.50 25319.50 + 6868.86 = 32188.36 32188.36 + tax(.06875 * 32188.36) = 34401.31 34401.31 / 36 = 955.58 Using multiple lease calculators online I am also coming up with $955 payment using the exact same numbers. (Sept residuals went down to .61 from .62... which bumped the payment from 927 to 955) Dave is quoting me $1048. I've sent him an email to clarify. Could there be $3348 ($93 * 36) of fees getting rolled into the payment somehow? Also.. trying to understand the logic in the formula of adding residual to sales price and multiplying by the MF to get the rent charge. Arent you paying rent charge twice by adding them together? I'm not questioning the formula, as it is obviously correct. Just trying to understand why its calculated the way it is.. |
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09-11-2014, 09:34 AM | #10 |
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^ 0.0003 MF kicker assuming Dave's quote was for ED would increase your MF to 0.0016 and puts your payment just north of $1k. Still not sure about the $1048 though unless you're excluding the typical lease acquisition/document fees.
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09-11-2014, 12:56 PM | #12 |
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It's kind of strange. I know in some states you have to pay full tax on sales price and not just depreciation... looks like this is the case.
If you remove the tax on depreciation and rent fee and apply it to sales price then your monthly payment would be $1058....
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09-11-2014, 04:31 PM | #13 |
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09-11-2014, 09:18 PM | #14 |
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Then he made a mistake. I've learned that ED is the 16 MF
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