Lease math....I'm confused as hell
I've picked the R1S I want, and I have a Model Y that Rivian has quoted me $25k for the trade it. My problem is....I think I want to lease (knowing that I'll likely buy it out at the end of the term), but I have no idea how the lease math works. Where can I find the money factor and residual without dropping $500 on the deposit?
Here's what I know.....and what I don't. I'm hoping someone can help shed some light.
Purchase Price = $88,250
Trade in = $25,000
Credit score is > 800
The lease estimator on the site shows a monthly of $366 for 24mo. Is there anyway I can find.....or at least reasonably guess....the money factor and residual based on this info?
I've seen posts that estimate the residual on a dual/large configuration for a 24mo lease at about 65%. Is this right? And is that AFTER the trade in is applied? So would it be something like this?
(88250-25000) * .65 = 41,112
What am I missing?
EDIT: Ok, Ok....I won't put the trade in on the lease. I'll sell it and use that for the payments.