Pardon my ignorance on the subject, as I’ve never extended a lease:
When folks say that Nissan is willing to extend for 6 months, do they “extend” another 833 miles monthly? Or are you still stuck with the same 15k ultra-low agreed miles?
Edit - clarified question to reflect 18/15k miles.
Full quote provided by dealer. I can’t get the calculator to match unless I remove all the fees and add them to the sale price. Not sure what I’m doing wrong or what is causing the delta, something to do with the cap cost I presume?
It appears they are putting the fees, etc. into the cap cost which is unneccesary with a one pay lease. You’d be paying interest on them and don’t need to since you are paying everything up front anyway.
Also, there is something screwy going on with their cap cost calculation. The numbers simply don’t add up. $45,510 should be the cap cost if they are giving you $1k off.
If they clean that up, and pull the fees from the cap cost, it will drive down the ‘monthly’, which will in turn drive down the MSD total.
18/10 = 15k miles for 18 months. If extend another 6 months would be 15k / 18 = 833 miles x 6 months = 5000 additional miles on a 6 month lease extension.
Unless they have changed, you remain liable for everything in the contract.
Over miles, excess wear and tear, etc etc. + the entire value of the vehicle if it’s totaled/stolen after they let their insurance lapse or if insurer declines to pay out because of something like, say, off-road use.
Have made some progress with combining the one pay with the deposits.
Have two estimates:
SV with LED lights and a midnight package,$4,777
discounted an extra 1% on accident probably, and has this kind of cool roll bar on the back, but I did not realize the SV is about 3 inches shorter and smaller tires.
prox4 $5881
The difference is about $60 a month or 1000 overall.
It does look like they are adding the fees to the cap cost, they said they couldn’t remove them and seem to understand why it didn’t make sense to charge interest on something I’m paying upfront, but maybe they didn’t. I also asked him to put the same amount of the fees cash down and it didn’t change anything either. Also the initial cap cost plus fees still don’t add up to the cap cost, it’s $194 more.
Here is the msd calculations if their math is correct, round to nearest 50.
$265 → $300 x 9 = $2700 msd
$326 → $350 x 9 = $3150 msd
This is my calculations for the Pro 4X but I don’t know what their dealer fee is:
Plug in the correct #s for the SV trim. But based on the dealers # for an SV trim at MSRP of $43,365 for one-pay of $4777.74 + msd looks like a good deal. Def. beats the Pro 4X offer.
Brief update on this. Finally got the dealer’s math to foot ($6.5K with $3.6K in MSDs) and they pulled the offer for additional $1K in discount from MSRP ($2K total) so I walked away. Need that additional $1K to reach $5.4K with $3.6K in MSDs, which would close the deal for me.
A good reminder as to why you never go into the dealership prior to finalizing the commercials. They’ve spent the last three days trying to get me up there.
My lease contract says SignatureOne with NMAC - Single Payment - California. For those that have one-pay does your lease extension say something similar:
It states to divide line item 5.I by the # of months in your scheduled lease term. My line item 5.I is $3860.