Originally Posted by Skk378
36 month lease
Ok, so taking your net price after rebate, i.e. cap cost ($33,100) and subtracting the residual dollar amount ($24,154.58) gets you the total depreciation cost over the life of the lease ($8,945.42). Divide the total depreciation cost by the number of months to get the base, monthly amount ($8,945.42/36=$248.48).
Then, to determine the monthly money factor, add the residual dollar amount to the cap cost ($24,154.58 + $31,100), and multiply by the money factor (0.0011) to get $60.78. So, your pre-tax monthly payment should be $248.48 + $60.78 = $309.26. Add CA 8.50% sales tax to that to get your total monthly payment - $309.26 x 8.50% = $335.54. This is assuming $0 down, and assuming that acquisition, title and license fees are rolled into the cap cost. If not, you'll need to either add those and re-do the math, or just pay them upfront.
Based on what your dealer told you, the total cost of the lease over the 36-month Term is $13,380 (i.e. $330 x 36 + $1,500). Based on my math, the total cost of the lease would be $12,079.44 ($335.54 x 36). So, there's a variance of about $1,300. Now, dealer acquisition fee is about $750, and registration is a few hundred dollars, so it's close if those fees weren't already included in the net price. The above math assumes that you're paying 36 monthly payments, but Lexus typically pays for your first months' lease payment, so you can confirm this with them and deduct 1 months' worth of payments (although the variance is only $5).