I have watched the video, read the 101 page on how to use the calculator, and I still don’t fully understand how to the use the calculator based on what this Nissan dealer sent me today. Any advice on properly filling this out with what details I have now would be appreciated. I believe based on what I’ve read and been offered by other local dealers this is a good deal but any advice there would be appreciated as well, I’m very green to all of this.
This is how far I got with Rate Findr enabled in the calculator
You have $10500 entered in for incentives. The dealer is showing $6600 for incentives.
For a deal in Colorado, i would expect the incentives here to be much higher than either of those numbers.
$6600 looks suspiciously like the $5600 colorado tax credit plus an extra $1000. Do you qualify for anything like loyalty or any other conditional incentives?
I would bet the dealer is including the $7500 ev incentive in their discount number (and any other unconditional incentives)
I do qualify for loyalty and I’m thinking that $6600 is definitely a combination of both loyalty and the $5600 state.
When I showed this deal to another local dealer to beat they did say something interesting but that also didn’t align to the numbers…
“They show a $5,600 rebate and it’s not right it’s $14,100 rebate so we are not sure how they are doing that and getting to that payment. But at the end of the day it doesn’t really matter because it all comes down to a payment and their payment is lower.”
Yah, sounds definitely like their “discount” has the $7500 rolled into it then. Puts your actual discount here at more like $3100. How does that compare to other deals youve researched here?
This may be sour grapes but I’m not a big fan of online calculators preferring, instead, to create my own calculator once the mathematics is understood. This goes a long way in understanding leasing. Loading data into a calculator is akin to airline pilots loading navigation data into the aircraft’s flight management system (FMS). They couldn’t compute a geodesic curve that gets them from point A to point B to save their lives. Some know how but most don’t. Sadly, most of them haven’t learned a thing other than how to enter data. and that’s scary/ I believe United and American no longer require a college degree probably in the interests of DEI. YIKES!
At any rate, don’t worry about the calculator right now. Let’s organize the data and do the math.
MSRP 50750.00
Sell Price 40150.00
Acq Fee 695.00
Est. Fees 9.00
Gross Cap 40854.00 Sell Price + Capped Fees
CCR 6600.00 Cap Cost Reduction (rebates)
Adj. Cap (AC) 34254.00 Gross Cap - CCR
RF 67%
RV 34002.60 RF x MSRP
MF .00301
Term 24
Sales Tax Rate 8.81%
Base PMT = MF x (AC + RV) + (AC - RV)/Term
Substitute the assigned values
Base PMT = 215.93
Contractual PMT = 1.0881 x 215.93 = 234.95
Upfront Fees
1st PMT 234.95
Sales Tax 581.46 8.81% x 6600.00
TOTAL 816.41
DAS 816.41
Bottom line: DAS = 816.41 plus 23 remaining payments of 234.95 each.
NOTE: There may be some missing data such as the dealer fee (doc fee) and gov. fees (title/reg/license).
Now, let’s use the LH Calc. One slight correction to your Calc… Taxed incentives should be 6600, not 10500 according to the data you provided and as @mllcb42 suggested. Research those rebates and make sure that they are accurate and are correctly applied. Something just doesn’t look right.
Yes, it does matter how you get to the payment. Not understanding could cost you even if the payment is lower.
@mllcb42@delta737h yeah that makes sense, I will get more details from them on what the $10,600 discount actually includes. Also @delta737h thank you for the breakdown a lot of this is still very much over my head but the way you broke it down is incredibly helpful.
I cannot find many comparables in Colorado unfortunately. Only one of the entries for Nissan in Colorado is the same model/trim and it’s from last year.
As I typed this though I figured out how to filter the forums by labels/tags and am now reading through what others in Colorado have discussed. I will follow up once I get a better idea here.
You don’t necessarily need to look at units just in your region for comparing pre-incentive discount. Yah, regional markets are different, but you can still extract data from out of your area to get a rough idea there.
I read another post that made me think the dealer was giving the rebate directly back to the person getting a lease. All of the offers I’ve seen dealers and Nissan directly advertise online seem to indicate they keep the $5600 Colorado rebate and apply it towards the deal, lowering the discounted price. Is that not normal for EV leases?
One thing I have to consider here as well is that neither offer the 2 Nissan dealers I’ve been working with include registration which looks like it will be $902.
I do believe I have some prorated option since I will be transferring registration from a 2017 Leaf that we also want to trade-in that was just renewed in the last couple months.
Confirmed the $6,600 rebate is $5,600 state EV tax credit plus $1,000 loyalty. The $10,600 is the $7,500 federal tax credit plus a “general mark down” according to the dealer.
I will need to do some more digging for comparisons but I believe this is still a solid deal for a lease of a 2024 Ariya Evolve+ at this point.
Push for a larger dealer discount, as the similarly priced Ioniq 5 also comes in the range of $230 to $250 with 2 years of free charging, whereas Ariya doesnt.
Additionally, I believe Nissan is offering a $2000 Select Summer Bonus cash (which I assume is VIN specific). If the vehicle you received a quote for includes this $2000 summer cash, then your dealer is providing a very low discount.
