In Ontario, we are forced to show the formula and the cost of borrowing for ALL payment calculations.
This is why many vendors now have long, complicated explanations of the payment.
It's great for customer transparency, but it also shows the nasty cost of borrowing on some of these vehicles.
Apparently Chrome Data has lease residuals now, but we've only just starting playing with them.
Data accuracy is an issue on both lease and financing though, as almost all providers are still getting these from scans or dealer logins to OEM portals - there is plenty of room for human failure.
Most of the data I've seen shows low usage on those beyond maybe entering a downpayment.
I'll try and find the studies, but I remember reading numerous places that the payment calculation typically happens on the OEM site and the availability of the vehicle is what is checked on the dealer site.
100% agree with your assessment though.
In evaluating dealer websites a few months ago, we found countless inconsistencies on calculators.
One of our OEM clients sent us a ticket a few months ago pointing out that our payments were wrong, showing us that Scotiabank had the correct payment. We confirmed with 6 different national bank calculators and found that not even the banks have the math right every time.
I don't understand why it's so complicated, but can attest to the mess.
