Money factor

AlishaDiya

HI looking to get the money factor for 2021 Nissan Sentra S 4 cylinder , 2.0.

Michaell

AlishaDiya said:

HI looking to get the money factor for 2021 Nissan Sentra S 4 cylinder , 2.0.

What is your location?
Lease term and miles per year?

AlishaDiya

Hi Michael. I am in NJ. 3 year 10k miles/yr.

Michaell

AlishaDiya said:

HI looking to get the money factor for 2021 Nissan Sentra S 4 cylinder , 2.0.

AlishaDiya said:

Hi Michael. I am in NJ. 3 year 10k miles/yr.

.00172 MF
61% residual
$1200 incentive

AlishaDiya

Thanks Michael. I appreciate the help. I will plug this into the calculator. Trying to figure out the monthly lease payment.

AlishaDiya

Hi Michael what is the difference between purchase option and selling price? When I am calculating lease payment should I be inputting selling price or purchase option ? I am using the leasehacker calculator

AlishaDiya

Also what is the incentive. If I was negotiating with dealer do they get the incentive or do I? Thanks

kyfdx

AlishaDiya said:

Hi Michael what is the difference between purchase option and selling price? When I am calculating lease payment should I be inputting selling price or purchase option ? I am using the leasehacker calculator

The purchase option is the buyout at the end of the lease. You don't use that to calculate the payment.

The Nissan incentive is Nissan to customer, and applied as a CAP cost reduction.

AlishaDiya

Ok so this is what inserted

MSRP: 20825
Selling price 19797
Months 36
Miles 10000
Residual Auto Calculated to 61%
Money Factor 0.00172
Taxed incentive 1200 (how did you come up with this and is this different for different states? I am in NJ

All the other fees were auto Calculated by leasehacker
Tax rate: 6.625%

My lease comes out to $237
Drive off $1371.

Where in this can I negotiate to bring the monthly down to $200 without putting any money down. With the quarter end coming up will that be a negotiation point?

Michaell

AlishaDiya said:

Ok so this is what inserted

MSRP: 20825

Selling price 19797

Months 36

Miles 10000

Residual Auto Calculated to 61%

Money Factor 0.00172

Taxed incentive 1200 (how did you come up with this and is this different for different states? I am in NJ

All the other fees were auto Calculated by leasehacker

Tax rate: 6.625%

My lease comes out to $237

Drive off $1371.

Where in this can I negotiate to bring the monthly down to $200 without putting any money down. With the quarter end coming up will that be a negotiation point?

You would need to negotiate about $1000 off the selling price to get to your target.

Not sure that is possible, with the current (dealer tilted) market conditions.

AlishaDiya

Can the incentive be applied towards the dealer instead of the customer to bring down the monthly lease?

Michaell

AlishaDiya said:

Can the incentive be applied towards the dealer instead of the customer to bring down the monthly lease?

No.

kyfdx

AlishaDiya said:

Can the incentive be applied towards the dealer instead of the customer to bring down the monthly lease?

No, the amount has to be applied as a CAP cost reduction. But, the dealer can quote the deal anyway they want.

It's possible the selling price they've provided already includes the incentive.

kyfdx

AlishaDiya said:

Can the incentive be applied towards the dealer instead of the customer to bring down the monthly lease?

It looks to me as though your quoted payment takes into account the incentive.

Ask the dealer for the Adjusted CAP cost, and a breakdown of the amount Due at Signing.

AlishaDiya

When I look at the breakdown in leasehacker for the above mentioned numbers I see
First month payment : 237
Down payment 0
Upfront Fees 485
Upfront Taxes 650

What would I gain from asking about Adjusted Cap cost?

kyfdx

AlishaDiya said:

When I look at the breakdown in leasehacker for the above mentioned numbers I see

First month payment : 237

Down payment 0

Upfront Fees 485

Upfront Taxes 650

What would I gain from asking about Adjusted Cap cost?

You would know if the incentive was applied to reduce the CAP cost, or if their quote already accounted for it. Plus, it appears the lease acquisition fee would also be added to the CAP, as it's not accounted for upfront. ($650)

By my calculations:

$19797 selling price
+$650 acquisition fee
-$1200 lease cash
= $19,247 adjusted CAP

When I use that number, I get $237/mo, as well.