The difference between final sale price and residual is around $11000. $657x 36 months coes out to around $24000. That is $13000 in interest. That 13000 is what is not making sense to me.
The taxes are an additional 13.10/mo. Doc fee $75. Other fees around 600. Less than $100/month difference. Not sure what the money factor/interest rate is. Dealers dont like to give that out. That is what im asking. By my math it seems like the intetest is 9%. My credit score is above 750.
Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option.
Rate Findr has that information, as they have direct access to it from the captive banks. It’s a tool on the Leasehackr Calculator, available to Super Supporters.
Can you post the dealers worksheet? I highly doubt the doc fee is only $75. It’s not that low anywhere in the US, let alone an uncapped state like DE.
It could be the market. Nissan has 8% on Frontier for top credit and it goes downhill from there.
Or could be like Mazda subsidized rate close to 1%.
So it is very possible for rent charge to be that higher these days but you need to know for sure what MF is. Ask the dealership what MF they are using and then compare to base rate found either here in rate finder or forums.edmunds.com
You really should put the time in and learn how to populate calculator to understand your payment…but it looks to me like MF is being cranked up 3% or so over buy rate.
Otherwise I’m sure they are giving you the GMS discount but then cranking up the MF on the backend to make all that money back. In my experience the dealers that slip this by you are typically the ones that are most difficult to work with. If they are willing to give you base MF and GMS then take the deal as you likely will not find any better.
Thank you. I signed up for so i can look at the rates. So i was able to use the calculator. If the mf and residual is accurate looks like the dealer adjusted both.