\text{AdjCap} = \text{CapCost} - \text{Down} - \text{Rebates} - \text{TradeIn} + \text{AcqFee} + \text{Doc/DMV}
\text{Residual} = \begin{cases} \text{ResidualOverride} & \text{if provided}\\ \text{MSRP} \times \dfrac{\text{Residual\%}}{100} & \text{otherwise} \end{cases}
\text{DepreciationFee} = \dfrac{\text{AdjCap} - \text{Residual}}{\text{TermMonths}}
\text{RentCharge} = (\text{AdjCap} + \text{Residual}) \times \text{MoneyFactor}
\text{PaymentPreTax} = \text{DepreciationFee} + \text{RentCharge}
\text{TaxPerMonth} = \begin{cases} \text{PaymentPreTax} \times \text{TaxRate} & \text{(tax on payment)}\\ 0 & \text{(upfront/no tax)} \end{cases}
\[ \text{AdjCap} = \text{CapCost} - \text{Down} - \text{Rebates} - \text{TradeIn} + \text{AcqFee} + \text{Doc/DMV} \] \[ \text{Residual} = \begin{cases} \text{ResidualOverride} & \text{if provided}\\ \text{MSRP} \times \dfrac{\text{Residual\%}}{100} & \text{otherwise} \end{cases} \] \[ \text{DepreciationFee} = \dfrac{\text{AdjCap} - \text{Residual}}{\text{TermMonths}} \]\[ \text{RentCharge} = (\text{AdjCap} + \text{Residual}) \times \text{MoneyFactor} \]\[ \text{PaymentPreTax} = \text{DepreciationFee} + \text{RentCharge} \] Tax treatment: \[ \text{TaxPerMonth} = \begin{cases} \text{PaymentPreTax} \times \text{TaxRate} & \text{(tax on payment)}\\ 0 & \text{(upfront/no tax)} \end{cases} \] \[ \text{PaymentWithTax} = \text{PaymentPreTax} + \text{TaxPerMonth} \] Upfront tax (if applicable): \(\text{UpfrontTax} = \text{AdjCap} \times \text{TaxRate}\). APR conversion: \(\text{APR} \approx \text{MoneyFactor} \times 2400 \Rightarrow \text{MF} \approx \dfrac{\text{APR}}{2400}\).