UPDATED Per JR’s suggestion, I have modified the CAP COST REDUCTION AFTER TAX to add the tax to the cap reduction and subtract the tax you pay up front.
I’ve made a minor update to the Lease Calculator. You can download the latest version by clicking on the image below.
I have incorporated the Deal Rating, which is an general indicator as to how good your deal is. This is based on the discussion Matthew and I had in the E-Class July 2009 post, where Matthew stated that his brother, who works in the industry, considers deals around 1.0% of a car’s value (MSRP) to be an excellent lease. Based on my past experiences, I have concur with his assessment for the most part. However, I think that in today’s market, were leasing has become a bit more expensive, anything under 1.2% before taxes is a pretty sweet deal. Let us take the 09 Acura TL deal I received a few days ago as an example.
MSRP – 39,445
Sale – 32,595
Residual – 53% (15k/yr for 36-months)
MF – 0.00184
Payment – $423
Rating – 1.07 (Excellent)
With a 1.07 rating, The Acura TL I got a few days ago is great. I would have been that much better if it included tax, but our taxes here in California have gone up 1.5% in that last 3 months, so that puts a pretty huge damper on almost any lease. Still, this was pretty solid.
Now lets take a look at the MB E350 where I am going to take Lee’s quote as an example.
MSRP – 57,085 (Prem I, Sport, Woodgrain)
Selling price – $43,585 (10,000 MB cash + 3,500 off)
Residual – 36mos./15K (43%)
MF – .00165
Payment – $642
Rating – 1.12 (Good)
As you can see, this deal really is very good. Some people, such as Wayne have reported the following deal: 56,775 MSRP / 41,494 Sale Price. That calculator spits out a cool 1.03 rating which is pretty awesome.
I figured this addition into the calculator should help you in your decision process, so have fun with it. As always, I welcome any thoughts and/or suggestions on how to improve this calculator. If you are having any problems with it, remember to keep it simple. Don’t roll in any fees or cap reduction and you should get a pretty good idea how good the deal really is.