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627B LeaseMaker®
Handheld Calculator (US Edition)
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627B LeaseMaker
Features
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Order a Software
Upgrade for the
new
0% Loan capability.
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0% Loans.
Both retail and balloon loans can be calculated with a 0% interest rate,
even with credit insurance. For retail loans, the last payment is adjusted, if necessary, to
make the finance charge exactly $0.00. On balloon loans, the balloon
payment is adjusted. See 0% Loans
Frequently Asked Questions.
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Interest buy-down amounts can be calculated for
0% loans with the enhanced dealer-reserve
routine.
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See Instant Upgrade and Returning
Your Calculator for Service.
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Rebates
used as cash downpayments can be excluded from Sales Tax, and the
downpayment tax, if any, can be capitalized for Sign-&-Drive deals.
See Instant Upgrade and Returning
Your Calculator for Service.
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Computes new and used vehicle leases using a
money or lease factor, and using simple-interest rates. Results can be
printed with the optional printer.
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Includes bank
fees, lease-end markup, security deposit (automatically calculated or entered), luxury tax, state and local sales taxes.
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New Millennium Edition allows
non-taxed Extended Warranties and other items to be included in
tax-the-payment states.
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The lease price, or payment can be calculated.
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The drive-off cash and total amount is calculated.
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Computes used car leases
(residual dollar amount can be entered).
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New Hard Adds field for
dealer-installed options or used-car add/deducts.
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Displays a complete Regulation M
disclosure.
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Formulas are built in for sales tax rules for
all 50 states, and for over 25 leasing companies.
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Computes retail finance and balloon
loans with credit insurance. The
credit-insurance routines have been updated to handle 0% loans.
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Computes FRB Regulation Z A.P.R. for
retail finance and balloon loans with prepaid finance charges.
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Computes dealer reserve by
several methods.
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Computes interest rate buy down
amounts, even for 0% loans.
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Computes monthly, weekly and biweekly loans
-- ideal for new and used vehicles.
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Formulas are built in for all 50
states for Credit Insurance on retail and balloon
loans, including 0% loans. Rates can be
entered and changed by the user.
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"Ask State" option
allows you to quickly jump from one state to another -- ideal for
dealerships near a state line or for consultants and sales training
organizations.
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"Ask Lease Type"
option allows you to quickly jump from one leasing company to another --
makes it easy to compare payments, etc from one leasing company to another.
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APRChecker™
Routine computes the APR and verifies the
disclosure of loans, computes dealer reserve by three methods. Has
minimum dealer reserve and percentage paid feature, and computes interest
rate buy-down amounts. This routine is also available as a PC product
-- see APRChecker PC.
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LeaseChecker Routine computes
the factor and yield of any lease.
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Sample
Output
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The full Regulation M
disclosure appears like this.
Full details are in
the 627B User's Guide. |
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REG M FED BOX
TOT DO xxxxx.xx
xx ADV P xxx.xx
xx PT@ xxx.xx
TM PTS xxxxx.xx
DISP FEE xxx.xx
T PMTS xxxxx.xx
DRIVE-OFF ITEMIZATION
CAP RED xxxxx.xx
ss TAX xxxx.xx
DP TAX xxxx.xx
NJ FEE xxxx.xx
x PMT xxxxxx.xx
SEC DEP xxxxx.xx
BANK FEE xxx.xx
OTHER-D xxxxx.xx
TOT DO xxxxxx.xx
HOW DRIVE-OFF IS PAID
NET TR xxxxx.xx
REBATE xxxxx.xx
DO CASH xxxxx.xx
TOT DO xxxxxx.xx
GROSS CAP COST
PRICE xxxxxx.xx
NEG TR xxxxx.xx
NJ FEE xxxx.xx
xx TAX xxxxx.xx
DP TAX xxxx.xx
OTHER-1 xxxxx.xx
OTHER-2 xxxxx.xx
BANK FEE xxxx.xx
GR CAP xxxxxx.xx
CAP COST REDUCTION
CASH D xxxxx.xx
TRADE xxxxx.xx
PAYOFF -xxxxx.xx
NET TR xxxxx.xx
CAP RDN xxxxxx.xx
ADJ CAP xxxxxx.xx
GROSS CAP COST
PRICE xxxxxx.xx
NEG TR xxxxx.xx
LUX TAX xxxxxx.xx
xx TAX xxxxx.xx
DP TAX xxxx.xx
OTHER-1 xxxxx.xx
OTHER-2 xxxxx.xx
BANK FEE xxxx.xx
GR CAP xxxxxx.xx
CAP COST REDUCTION
CASH D xxxxx.xx
TRADE xxxxx.xx
PAYOFF -xxxxx.xx
NET TR xxxxx.xx
CAP RDN xxxxxx.xx
ADJ CAP xxxxxx.xx
RESIDUAL VALUE
MSRP xxxxxx.xx
HARD ADDS xxxx.xx
RV FACTOR xx%
RV AMT xxxxxx.xx
ANTIC MI xxxxx
STD MI xxxxx
EX MI/YR xxxxx
EX MILES xxxxxx
@ $x.xx -xxxx.xx
RESID xxxxx.xx
DEPRECIATION
T DEPR xxxxx.xx
RENT CHARGE
C+R xxxxx.xx
FACTOR xxxxxx
RENT/M xxx.xx
LCL FEE xxx.xx
T RENT/M xxx.xx
T RENT xxxxx.xx
MONTHLY PAYMENTS
T DEPR xxxxxx.xx
T RENT xxxxxx.xx
T BASE xxxxxx.xx
TERM
xxx
TAX PMT xxxx.xx
BASE P xxxx.xx
ss TAX xxxx.xx
EXCISE/M xxx.xx
PMT xxxxx.xx
PURCHASE OPTION
RESID xxxxx.xx
LE MKUP xxxx.xx
P OPT xxxxx.xx
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Guide to Credit
Insurance
Supplement for Lenders and Lessors
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The LeaseMaker
Supplement for Lenders & Lessors has complete information on the APRChecker™
Routine that computes APR's and verifies the disclosure of loans.
It also discusses how to do yield and early-termination
payoff computations, and also explains the history and derivation of the
lease factor.
This is a PDF file which can be downloaded or read on
line. You will need Adobe Acrobat Version 3.0 or later to read this file.
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627B Support
627B Battery Replacement
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To change batteries, you should first have the replacement
batteries at hand (two CR2032 Lithium batteries are required) and
a small screwdriver to remove the two screws on the back of the
calculator. Make sure you install the new batteries with the same
orientation (plus and minus) as the original batteries (this is
also shown on a diagram on the inside of the back cover).
The CR2032 battery is available at Radio Shack stores, camera
stores or departments, and other places that sell small
batteries. It is round, about 0.75 inches (19 mm) in diameter and
0.125 inches (3.175 mm) thick.
Click here for detailed instructions on changing the handheld calculator batteries
(instructions are also in the User's Guide).
If you need assistance in changing the
batteries, contact our office at 1 800 843-7766 between 9 AM and 5 PM Eastern
Time, Monday through Friday.
You will have to setup the calculator
after replacing the batteries. See Setup Codes
or 627B User's Guide.
If the calculator still does
not work, the calculator and/or card are probably defective and
need repair. The calculator and
card should be Returned for
Service.
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627B Software Update Information
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The 627B LeaseMaker is frequently updated to keep pace
with the industry, various Federal and state regulations, as well as changes in major
leasing companies.
This is a list of the most recent changes together with
the date they were made and the software Series
number. The most recent version is at the top of the list.
If your calculator has an earlier version of the software, it should be
upgraded. See Instant Upgrade Service or
Returning
Your Calculator For Service. You will receive the most recent version of the software
together with a new User's Guide.
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| Date |
Series |
Changes |
| Jul 2006 |
M01.1.21 |
Add New Jersey Supplemental
Title Fee calculation. |
| Oct 2005 |
M01.1.20 |
Update Minnesota sales tax
method on leases. |
| Oct 2005 |
M01.1.19 |
Update New Jersey sales tax
method on leases. |
| Jan 2004 |
M01.1.18 |
Revise New York "Y2"
plan for NYBA members - change effective 1 Jan 2004. |
| Oct 2003 |
M01.1.17 |
Loan balloon routine defaults to On/Conventional at reset. Revise ND credit insurance formulas. |
| Nov 2002 |
M01.1.16 |
Fix problem with
balloon-payment factor routine. |
| Sep 2002 |
M01.1.15 |
Fix problem with large (over
37,000 per year) excess mileage on leases. |
| Sep 2002 |
M01.1.14 |
Add SKIP DRIVE OFF? prompt to
suppress Drive-off Disclosure (default is Yes).
Change bank-fee legend to "ACQ FEE" for BMW.
Update PA & P2 Insurance - max term 72m for gross.
Suppress Purchase Option Disclosure for leases if Lease-end Markup is 0. |
| Jan 2002 |
M01.1.13 |
Update Ohio Sales Tax method
(effective 1 Feb 2002) |
| Dec 2001 |
M01.1.12 |
Change Luxury Tax rate to 3%
and base to $40,000 for 2002. Luxury Tax now defaults to off (must
be enabled by user). Balloon (residual) loan option now defaults
to off (must be enabled by user). |
| Sep 2001 |
M01.1.9 |
Add capability to compute 0%
retail and balloon loans. Includes ability to discount (buy-down)
0% loans with dealer-reserve routines. |
| Jul 2001 |
M01.1.7 |
Update credit
insurance plans in NY (only affects loans in NY with credit insurance),
add plan "Y2" for use by NYBA members in New York.
Earlier versions should no longer be used in New York for loans with
credit insurance.. |
| May 2001 |
M01.1.6 |
Update Delaware Lease
calculations to allow sales tax on price and payment stream. |
| Jan 2001 |
M01*
M01- |
Minor updates to loan routine.
Changed default Luxury Tax
Rate to 4%. |
| Oct 2000 |
M01+ |
Leases can be calculated to
six digits ($999,999.99). |
| Jul 2000 |
M01: |
Updated loan routine roll to
price with sales tax financed. |
| May 2000 |
M01 |
Add non-taxed Rebate feature
which excludes sales tax on Rebate used as part of cash
downpayment. Affects Massachusetts, Iowa, and can be configured
for any state.
Also updated Iowa sales tax method. |
| Jan 2000 |
M00 |
Millennium Edition with
entirely new computational engine to match the recently released
LeaseMaker PC product.
New tax options allow non-taxed items (such
as Extended Warranties) to be capitalized in the lease but not
taxed. Downpayment tax can be capitalized in any tax-the-payment
state.
Changed default Luxury Tax settings to
$38,000 base and 5% rate.
|
| Oct 1999 |
L98 |
APRChecker™ Routine
added.
This routine computes the APR and verifies the Regulation Z
of installment loans, and computes the dealer reserve.
You can
specify a minimum reserve paid, and a percent reserve paid.
Details are in the LeaseMaker APRChecker Routine Guide.
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| Sep 1999 |
L96 |
Change Ford Red Carpet Leasing formula
per Dealer Bulletin #5677 dated 17 Sep 1999 (formula effective 2 Oct
1999).
Change Pennsylvania Credit Life Formula for retail and balloon loans per
new PA regulation.
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| Aug 1999 |
L90+ |
Change Nations Lease type to BAMER to
reflect Bank of America merger. |
| Jul 1999 |
L90. |
Change West Virginia credit insurance
formula for retail and balloon loans. |
| Feb 1999 |
L90 |
Add FIRSTAR and Charter One lease
companies. |
| Dec 1998 |
L80. |
Change default Luxury Tax to 6%. |
| Jun 1998 |
L80 |
Add ability to round or truncate
computed retail loan payments.
Change Oxford lease type to Nations.
Add Tammac Corp lease type. |
| Jan 1998 |
L66. |
Change default Luxury Tax to 7%.
Change excess mileage and payment calculation for GMAC leases. |
| Sep 1997 |
L66 |
Revise lease disclosure to comply with
Regulation M.
Bank fee can be capped or put in driveoff.
Add Lease Dealer Reserve routine.
Add Find Lease Factor and Lease Yield routines.
Add Early Termination routines. |
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627B Setup Codes
|
Configuration of the calculator is
done through the Setup Routine. After you press the Setup Function Key,
you have to enter a code number to access a routine.
This is a list of the
setup codes and a short description of what they do.
Full details are in
the 627B User's Guide.
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| Code |
What it does |
| 24 |
Select sales tax state.
Push [Enter] to scroll down or [No] to scroll up the list of states, press
[Yes] to select the state displayed. For the "Ask State" option,
enter a 0. |
| 26 |
Set Sales Tax options: Tax
Bank Fee, Tax Other 2, & Tax Rebate. |
| 36 |
Select lease type. Push
[Enter] to scroll down or [No] to scroll up the list of lease types, press
[Enter] to select type displayed. For the "Ask Lease
Type" option, select "ASK" or enter a "0"
(formerly a "7"). |
| 37 |
Set Security Deposit
Calculation method. |
| 38 |
Set Non-Financed Monthly
Charge (Local Fee) & Excise Tax options. |
| 40 |
Set the Lease-end Value Markup
option. |
| 48 |
Install/maintain a credit
insurance plan. See Guide to
Credit Insurance for details on this code. |
| 50 |
Select payment frequency on
retail loans. Enter a 0 to be asked the frequency on each
loan. Frequencies can be 12, 26 or 52. |
| 51 |
Enable/disable a prepaid
charge on retail loans. |
| 52 |
Select the odd-day
calendar. [Yes] selects an Actual calendar, and , [No] a Federal calendar.
In both cases, the total number of days to the first payment is entered
(on older calculators, only the "odd" or extra days are
entered when the Federal calendar is selected). |
| 53 |
Enable and balloon (residual) loan and select the method. |
| 54 |
Enable the Short Loan
Routine. This option skips all loan prompts except the loan
amount. |
| 55 |
Round/truncate retail loan
payment. |
| 99 |
Displays the single-premium
rates used to compute the last loan with credit insurance. |
| 222 |
Displays the current credit insurance plan for retail
loans. |
| 125 |
Disable/enable New Jersey
Supplemental Title Fee calculation. |
| 181 |
Compute dealer reserve using
difference in charges method. |
| 184 |
Compute dealer reserve using
present value method. |
| 185 |
Compute dealer reserve using
prorate method. |
| 199 |
Start Balloon Loan Payment
Factors routine. |
| 381 |
Start Lease Check & Dealer
Reserve routine |
| 726 |
Install/change "Your Name
Here" in the calculator's display. |
| 9911 |
Enables/disables a printer. |
APRChecker™ Routine Start
Codes
See LeaseMaker Supplement for
Lenders & Lessors for details |
| 581 |
Check loan and compute
difference in charges dealer reserve. |
| 584 |
Check loan and compute present
value dealer reserve. |
| 585 |
Check loan and compute prorate
dealer reserve. |
| 681 |
Same as 581 except activates
printer. |
| 684 |
Same as 584 except activates
printer. |
| 685 |
Same as 585 except activates
printer. |
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Updated 27 Jul 2006 |
