Need help on lease quote....

[SAFX]

I'm new to leasing, and I just want to make sure the dealer is being honest. Here's the info I have.

2004 G35 Coupe MT Black
Premium Package
Aero Kit/Rear Spoiler
Performance Wheel Package
Aerodynamics Package

$34,593 (Purchase Price, only $859 over invoice)

Lease Terms
20,000 miles
39 months
2.250 (Money Factor)
58% Residual
$500 Cap Reduction

$3685 (Out-of-pocket expense, $500 of which is cap reduction, the rest is processing fees, sales tax, etc)

The dealer is quoting a price of $498/month. I'm trying to calculate the lease using an online lease calculator, but there is something wrong with the money factor. The dealer told me it was 2.25%, but the lease calculator I am using is insisting that the money factor be a number in the form of .00X, like .002. I think I need to divide by 2400 or something. I'm a bit confused.


If someone can help me out, please, I would appreciate it.

Thanks,

SAF

[Rickpump76]

I leased exactly same car as you described.

1)I had a trade in which was $4000 up side down
2) 15K/ year
3)No money out from my pocket

I'm paying $500/ month.....so I think I got a better deal ^^

[SAFX]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Rickpump76

I leased exactly same car as you described.

1)I had a trade in which was $4000 up side down
2) 15K/ year
3)No money out from my pocket

I'm paying $500/ month.....so I think I got a better deal ^^
<hr height="1" noshade id="quote"></blockquote id="quote"></font id="quote">

You may not have paid anything out-of-pocket, but you did trade in your car, which the dealer valued at $4000. How much of that money was used for the cap reduction? Also, what was the residual (%) on your lease.

Thanks for the info!