iLeaseMyCar Pro Lease Tutorial

iLeaseMyCar Pro Lease Tutorial http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html When you first open up iLeaseMyCar Pro you need to configure your sales tax settings for both the Lease and Loan calculators. To do this, press the info button in the lower right hand corner. You'll need to do this for both "iLease" and "iBuy". They are completely separate so the setup has to be done in both places. Press the "i" to setup your sales tax settings. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#0 a336e673-0dc3-4fed-a1bb-81851d2ac9c1 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_1">Press the "i" to setup your sales tax settings.</p></div></div> First pick your state for calculating your payment. Press the state table cell to bring up the State Setup screen. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#1 351a38c5-aa11-4e7b-8e25-ae63697c3048 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%202/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%202/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">First pick your state for calculating your payment. Press the state table cell to bring up the State Setup screen.</p></div></div> Select your state by selecting it from the picker. For states that don't simply tax the monthly payment, you'll have the option of selecting whether you want to pay taxes monthly or Up Front. For these states, if you select monthly, the taxes will be added to the cap cost and interest will be applied. Press the info button for more info on how your taxes are calculated. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#2 c55b735a-8f94-4c38-ae38-c1a6e0ac512b http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%203/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%203/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_3">Select your state by selecting it from the picker. <span style="line-height: 16px; " class="style_1">For states that don't simply tax the monthly payment, you'll have the option of selecting whether you want to pay taxes monthly or Up Front. For these states, if you select monthly, the taxes will be added to the cap cost and interest will be applied. Press the info button for more info on how your taxes are calculated.</span></p></div></div> After pressing the info button, you will see this alert. You can easily email support if you think there is an error in how sales tax is being calculated. There was significant time spent researching sales tax for auto leases, but it is possible there is a mistake. Please feel free to email support if you think there may be a problem. Press OK and go back to the Lease Setup screen. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#3 bb939fd3-c1d6-4863-a6d6-121b03381564 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%204/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%204/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">After pressing the info button, you will see this alert. You can easily email support if you think there is an error in how sales tax is being calculated. There was significant time spent researching sales tax for auto leases, but it is possible there is a mistake. Please feel free to email support if you think there may be a problem. Press OK and go back to the Lease Setup screen.</p></div></div> Press the textfield next to Tax Rate to enter your tax rate. NOTE: Your tax rate is not set automatically. Some states have tax rates that are city specific so iLeaseMyCar Pro requires you to set the tax rate yourself. If you are going to be working with cars that have a gas guzzle tax and want to enter the residual as a percent, turn on the Gas Guzzler Tax Residual Helper. Then touch the Fee Tax Settings cell. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#4 0e30ea2d-ef7e-4e21-bdd5-7ce42bc10800 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%202_1/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%202_1/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">Press the textfield next to Tax Rate to enter your tax rate. NOTE: Your tax rate is not set automatically. Some states have tax rates that are city specific so iLeaseMyCar Pro requires you to set the tax rate yourself. If you are going to be working with cars that have a gas guzzle tax and want to enter the residual as a percent, turn on the Gas Guzzler Tax Residual Helper. Then touch the Fee Tax Settings cell.</p></div></div> Flip the switch to ON for any of the fees are taxable. The tax will be added to the amount due at drive-off or capped as appropriate. Go back to the lease setup screen and press done. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#5 dd919a30-ab09-4b44-bdf5-cfe4d02ea898 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_1/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_1/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">Flip the switch to ON for any of the fees are taxable. The tax will be added to the amount due at drive-off or capped as appropriate. Go back to the lease setup screen and press done.</p></div></div> You are now back to the main iLease screen. Enter in the MSRP and the Selling price. Do NOT include any fees that will be rolled into the lease in the selling price. iLeaseMyCar Pro handles that later. Now Press Cap Reduction. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#6 dae10bda-456e-4b02-841c-7e211658f15d http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_2/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_2/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_4">You are now back to the main iLease screen. Enter in the MSRP and the Selling price. Do NOT include any fees that will be rolled into the lease in the selling price. iLeaseMyCar Pro handles that later. Now Press Cap Reduction.</p></div></div> Enter in any cash cap reduction here as well as trade-in information If you decide not to trade-in the vehicle, simply flip the switch to OFF. You don't have to zero out the trade-in values. Negative equity is supported. Press Apply when done. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#7 3594fc70-f3f8-4f19-a2a8-c4cd4a63ed34 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%202_2/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%202_2/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">Enter in any cash cap reduction here as well as trade-in information If you decide not to trade-in the vehicle, simply flip the switch to OFF. You don't have to zero out the trade-in values. Negative equity is supported. Press Apply when done. </p></div></div> You are now back to the main iLease screen. You'll see that the cap reduction now has a value based on the cash down payment plus the net value of the trade-in. If there is negative equity that is not offset by the cash down, you'll see a number with () around it to indicate a negative value. Now enter in your Money Factor. You can press the info button to see the equivalent APR. Now press the cap additions field. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#8 2c9a1f87-c0af-46fe-8807-707c14a70e55 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_3/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_3/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">You are now back to the main iLease screen. You'll see that the cap reduction now has a value based on the cash down payment plus the net value of the trade-in. If there is negative equity that is not offset by the cash down, you'll see a number with () around it to indicate a negative value. Now enter in your Money Factor. You can press the info button to see the equivalent APR. Now press the cap additions field.</p></div></div> This is where you roll fees into your lease. If you want to roll items like acquisition fees, security deposits, etc into your lease, do it here. Simply flip the switch to ON to add it to the lease amount, then enter the value. Any fees that are rolled into the monthly lease payment are automatically removed from the amount due at lease signing. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#9 e2c26754-7939-4813-88f4-6c0f762c3497 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%203_1/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%203_1/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">This is where you roll fees into your lease. If you want to roll items like acquisition fees, security deposits, etc into your lease, do it here. Simply flip the switch to ON to add it to the lease amount, then enter the value. Any fees that are rolled into the monthly lease payment are automatically removed from the amount due at lease signing. </p></div></div> You'll notice now that the Cap Additions field has a number of $795. This is the amount you are adding to the Cap Cost. Now press Residual. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#10 46c9f6ad-2ccc-4d25-b78f-ff7a7049ff46 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_4/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_4/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">You'll notice now that the Cap Additions field has a number of $795. This is the amount you are adding to the Cap Cost. Now press Residual.</p></div></div> If you turnned on the residual helper, you'll see this view when you touch the residual field. If you left the residual helper off, you simply enter in the residual in percent or dollars depending on your selection in the lease setup screen. This helper is used if you deal with vehicles that have GGT. Simply enter in the residual in percent and the GGT amount. Then press apply. Note, this view is only activated if residuals are calculated as a percentage of MSRP. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#11 e7dd66d7-4fbb-45a3-9dda-04fe897191af http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo_9/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo_9/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">If you turnned on the residual helper, you'll see this view when you touch the residual field. If you left the residual helper off, you simply enter in the residual in percent or dollars depending on your selection in the lease setup screen. This helper is used if you deal with vehicles that have GGT. Simply enter in the residual in percent and the GGT amount. Then press apply. Note, this view is only activated if residuals are calculated as a percentage of MSRP.</p></div></div> You can now see the residual is filled into the field. After you press calculate, you'll see the letters GGT to remind you that the residual is being calculated including GGT. If a value of $0 is entered for the GGT, then GGT will not be displayed. Now enter in your lease term and press calculate. You'll see your payment as well as any tax due at drive-off. Now press Summary. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#12 5c168024-a070-4e42-b770-d0d7a21014cf http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_5/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_5/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">You can now see the residual is filled into the field. After you press calculate, you'll see the letters GGT to remind you that the residual is being calculated including GGT. If a value of $0 is entered for the GGT, then GGT will not be displayed. Now enter in your lease term and press calculate. You'll see your payment as well as any tax due at drive-off. Now press Summary.</p></div></div> The summary view shows you not only your payment, but the amount due at signing. Enter in your other fees here that were not rolled into the lease. Note, these fields are linked to the cap additions helper, so any changes here are also made in the cap additions helper. With all that done you can now save your deal to the deal garage by pressing the button with the car in a garage. An alert will pop up asking you if you want to save this deal. Select yes. Now press Back. To save another deal, give it a different name. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#13 e682b37e-4df9-4216-9617-2ff2fbf3e4ba http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_6/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_6/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">The summary view shows you not only your payment, but the amount due at signing. Enter in your other fees here that were not rolled into the lease. Note, these fields are linked to the cap additions helper, so any changes here are also made in the cap additions helper. With all that done you can now save your deal to the deal garage by pressing the button with the car in a garage. An alert will pop up asking you if you want to save this deal. Select yes. Now press Back. To save another deal, give it a different name.</p></div></div> You are now back to the main iLease screen. To see your deal in the deal garage, press the + in the upper left hand corner. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#14 6372fde1-3238-433a-bca5-523672fa9eb6 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_7/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%201_7/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">You are now back to the main iLease screen. To see your deal in the deal garage, press the + in the upper left hand corner. </p></div></div> You can see your deal in the "Deal Garage". The deal garage saves everything about your deal including the sales tax settings. Simply touch a deal to reload it back into the lease calculator. Swipe your finger across to delete old deals. You can update a deal at anytime by reloading it, making changes, then pressing the save button in the summary view. You will then be asked if you want to overwrite it. http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial.html#15 20226757-3850-4731-9181-88ffc29544d8 http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%202_3/thumb.jpg http://www.nottooshabbysoftware.com/NotTooShabby/ILP_Lease_Tutorial_files/Media/photo%202_3/micro.jpg <div style="padding: 0px; " class="image_cluster_layout_style_default_External_0_0"><div class="image_cluster_layout_style_default"><p style="padding-bottom: 0pt; padding-top: 0pt; " class="paragraph_style_2">You can see your deal in the "Deal Garage". The deal garage saves everything about your deal including the sales tax settings. Simply touch a deal to reload it back into the lease calculator. Swipe your finger across to delete old deals. You can update a deal at anytime by reloading it, making changes, then pressing the save button in the summary view. You will then be asked if you want to overwrite it.</p></div></div>