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Money factor

AlishaDiyaAlishaDiya Member Posts: 8
edited June 2021 in Nissan
HI looking to get the money factor for 2021 Nissan Sentra S 4 cylinder , 2.0.
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    MichaellMichaell Moderator Posts: 241,336
    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?

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    AlishaDiyaAlishaDiya Member Posts: 8

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

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    MichaellMichaell Moderator Posts: 241,336
    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

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    AlishaDiyaAlishaDiya Member Posts: 8

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

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    AlishaDiyaAlishaDiya Member Posts: 8

    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

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    AlishaDiyaAlishaDiya Member Posts: 8

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

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    kyfdxkyfdx Moderator Posts: 237,331
    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.

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    AlishaDiyaAlishaDiya Member Posts: 8

    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?

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    MichaellMichaell Moderator Posts: 241,336
    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.

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    AlishaDiyaAlishaDiya Member Posts: 8

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

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    MichaellMichaell Moderator Posts: 241,336
    AlishaDiya said:

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

    No.

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    kyfdxkyfdx Moderator Posts: 237,331
    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.

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    kyfdxkyfdx Moderator Posts: 237,331
    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.

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    AlishaDiyaAlishaDiya Member Posts: 8

    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?

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    kyfdxkyfdx Moderator Posts: 237,331
    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.

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