Would like to lease a Hyundai Elantra GT loaded, but having difficulty understand the money aspect. What am I doing wrong in the simple equation?

I took the MSRP and calculated 65%, which I was told was the worth at the end of the lease. Next I calculated local tax and added an estimated bank fee. Added those 3 figures together, and using a money factor (interest rate), I calculated that fee, which I added, getting the total cost to pay over the lease period. Finally dividing that number by 36 gave me the lease payment.

When I compare what the dealership wants as a down payment, along with 36 times the monthly lease payment, comes up to almost $3,000 more than my calculation.

What am I doing wrong???

 

Because there are fees involved in the lease your calculation doesn't add in but they do.