Getting ready to buy a GT2

[2020KGT2]

There's no hard and fast rule on this since everyone's personal situation is different, but in general, it's best to buy out asap because the lease money factor is bad.

Gotcha because I managed to get a dealer to do the lease but out at.

$51,790
Selling price at $47,183
MF .00189 and 54% ($27,966)
24 month 10k miles a year
$615 acquisition fee
$650 Bank Fee.
Trade in. $1200.
Using online calculators I'm getting estimates at $520 a month. He showed me his number and they're the same, but his payment is at $680.
I uploaded an image. Maybe youd understand it more than I can.

 

[stingerbeagle]

@2020KGT2 Ya, I suspect there are some fees not being shown in that screenshot. A few things that pop out:
- Having both a $650 bank fee and $615 acquisition fee isn't right. There should only be one lease acquisition fee. Mine was $650.
- There's $598 in accessories in that quote. Kind of gross unless you actually want it.

Rather than going back and forth with them on individual questions, I'd ask for the detailed lease worksheet with all fees disclosed in detail. They might play dumb, but they know exactly what this is. Sometimes this is called a "Lease Disclosure." My dealer initially played all kinds of games with me, but when I made it clear I wouldn't step in the door without this, they emailed the full lease disclosure to me 30 seconds later, so they obviously had it ready. With that, I was able to plug the numbers into my spreadsheet and got the numbers to line up to the penny.

 

[2020KGT2]

@2020KGT2 Ya, I suspect there are some fees not being shown in that screenshot. A few things that pop out:
- Having both a $650 bank fee and $615 acquisition fee isn't right. There should only be one lease acquisition fee. Mine was $650.
- There's $598 in accessories in that quote. Kind of gross unless you actually want it.

Rather than going back and forth with them on individual questions, I'd ask for the detailed lease worksheet with all fees disclosed in detail. They might play dumb, but they know exactly what this is. Sometimes this is called a "Lease Disclosure." My dealer initially played all kinds of games with me, but when I made it clear I wouldn't step in the door without this, they emailed the full lease disclosure to me 30 seconds later, so they obviously had it ready. With that, I was able to plug the numbers into my spreadsheet and got the numbers to line up to the penny.

Appreciate it. I'll definitely email him for that. Didnt notice that $602 license fee plus those 2 $600+ fee . That adds up. And the $598

 

[namja]

@2020KGT2- Having both a $650 bank fee and $615 acquisition fee isn't right.

I actually don't see the $615 acq fee in his lease sheet... unless you referring to his worded breakdown.

Using excel (remember this?) I can't seem to know where to put his $1200 trade-in, either. Baked into his selling price?

 

[stingerbeagle]

I actually don't see the $615 acq fee in his lease sheet... unless you referring to his worded breakdown.

Yes, and I wonder if the $615 is hidden in there somehow. Hopefully not.

Using excel (remember this?)

LOL. I built mine in gsheet (too cheap to pay for Excel), but glad you were able to port it over

I can't seem to know where to put his $1200 trade-in, either. Baked into his selling price?

I imagine it's just considered a down payment that reduces capitalized cost. California doesn't let you deduct trade-ins for sales tax purposes so there's no impact to anything else.

I don't think you have enough info in the screenshot to perform + verify all the calculations. I could be wrong, I didn't actually try.

 

[2020KGT2]

Yes, and I wonder if the $615 is hidden in there somehow. Hopefully not.



LOL. I built mine in gsheet (too cheap to pay for Excel), but glad you were able to port it over



I imagine it's just considered a down payment that reduces capitalized cost. California doesn't let you deduct trade-ins for sales tax purposes so there's no impact to anything else.

I don't think you have enough info in the screenshot to perform + verify all the calculations. I could be wrong, I didn't actually try.

I appreciate the help. I messaged him for a breakdown of all the fee . Just waiting on him.