orangecat1
500+ Posts
people lease cars. This is for a 2011 Kia Soul.
"Sorry it took me a few days to get back to you. My daughter was sick. But here's got I got back from my sales manager. The sale price is $13,300. Tax-$912. Government fees- $304. The residual value is $7749.50. There is a money factor (which is the interest rate) of .00136. Leaving the payment at $235.58. That's with the first monthly payment down. "
I have no experience with leases, but wanted to check this out, just in case. Appears to me that I would be paying sales tax on the entire purchase, even though I would be leasing the car for 36 months.
Is this "money factor" in line with other leases? I really don't have a clue what is being charged. Is a person being charged the difference between the sales price(13,300), and the residual(7749.50), + all of the taxes gov't fees?
"Sorry it took me a few days to get back to you. My daughter was sick. But here's got I got back from my sales manager. The sale price is $13,300. Tax-$912. Government fees- $304. The residual value is $7749.50. There is a money factor (which is the interest rate) of .00136. Leaving the payment at $235.58. That's with the first monthly payment down. "
I have no experience with leases, but wanted to check this out, just in case. Appears to me that I would be paying sales tax on the entire purchase, even though I would be leasing the car for 36 months.
Is this "money factor" in line with other leases? I really don't have a clue what is being charged. Is a person being charged the difference between the sales price(13,300), and the residual(7749.50), + all of the taxes gov't fees?
