Leasehackr Lingo/Jargon

#1

Been with the community since 2015 and it has grown to the point there is a short hand, it’s own lingo and culture. Here are some terms used that may seem foreign to the first time user.

broker… Someone who saves you significant $ by saving you hours of searching and negotiating. For the common man they pay for themselves and then some in time/money/headache saved.

DAS… Due at Signing. The total due at signing including taxes and fees, not to be confused with down payment.

Doesn’t lease well… crappy residual, crappy MF, or crappy/no incentives. Or a combo of all three.

Fart car… a courtesy vehicle or demo vehicle.

Lurker… someone that goes through the forum, reads, clicks links but never creates an account or posts.

MF… money factor (MF * 2400 provides the interest rate)

MSD… multiple security deposit (used in some states to obtain a lower MF)

MSRP… manufacturer’s list price

OOP… Out of Pocket. See “DAS”.

OP… the Original Poster, a reference to the person who originally created the thread/topic

Punched… means that a car is reported as sold by the dealer while still staying at dealer’s possession; may be sold or leased again to customer; often used as demo/courtesy cars (see “Fart car”)

RV… residual value of vehicle at lease end (important for those considering a buyout)

Selling Price… the discounted price of vehicle before applying any incentives

Skated… when another salesperson steals your customer, “Hey Steve just skated me on that deal, I had him logged!”

Troll… someone that attack’s posts or opinions without a benefit but their own satisfaction.

Trunk money… hidden manufacturer rebates, incentives, or other form of compensation available to dealer for a particular car

UNICORN… something that is a stellar deal, usually posted by someone has worked on for days or sometimes month by doing research and trying hard. Something which ISNT POSSIBLE to pm a broker and ask him to replicate cause most likely broker will keep it for himself

1% deal… when your monthly payment is equal to 1% of the MSRP.

20202020… often used to reach the minimum 20 character limit on a post. (It’s now actually a 10 character limit!)

Anything else please comment below. I may have missed some.

Last edited 3/16/19 to include other users’ suggestions.

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#2

Great idea!

Something that took me a while to figure out was all the talk about 1% lease payments. Then I read the on this website that the 1% rules means:

when your monthly payment is equal to one percent of the retail price of the car, with only drive-off fees due upfront (first month’s payment, document fees, and vehicle registration). An example of a one percent deal would be $300 per month on a $30,000 car with no more than $1,000 due at lease signing.

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#3

“doesn’t lease well” -> crappy residual, crappy MF, or crappy/no incentives. Or a combo of all three.

“do your research” -> edmunds.com

“hi, I’m new” -> hire one of the brokers so you don’t get screwed and learn how it works for next time.

At least, that’s based on my experience.

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#4

OOP = Out of Pocket

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#5

to clarify,

“crappy” - like poop, not a good way to describe something.

“broker” - someone who saves you significant $ by saving you hours of searching and negotiating. For the common man they pay for themselves and then some in time/money/headache saved.

I’ll add,

“google” - a hip, new website where you can type stuff in and find the answer to 95% of questions (think of askjeeves, yahoo!, aol, etc)

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#6

Sometimes the trolls are the one’s who start the post

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#7

And don’t ever come back to update in the story while there are 50 more post speculation about the problem from 360 degree view.

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#8

So what’s the term for someone who posts their deal after they signed, and creates a user name just to post said deal. (It’s usually no unicorn either)

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#9

That would be “he, who enjoys the car” since that’s the only thing you have left to say at that point.

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#10

MF = money factor (MF * 2400 provides the interest rate)
RV = residual value of vehicle at lease end (important for those considering a buyout)
MSD = multiple security deposit (used in some states to obtain a lower MF)
MSRP = manufacture list price
Selling Price = the discounted price of vehicle before applying any incentives

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#11

More pc, “they, who enjoys the car”

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#12

PC = politically correct (we live in a sensitive world)

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#13

Very important one UNICORN something which is a stealer deal, usually posted by someone has worked on for days or sometimes month by doing research and trying hard. Something which ISNT POSSIBLE to pm a broker and ask him to replicate it :joy::joy::joy: cause most likely broker will keep it for himself !!!

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#14

Great ideas here!

Going to add this to the FAQ category @senwia if that’s alright with you. And will update the OP (original post? or is it original poster…) so that all the lingo can be found at the beginning of this topic (or is it thread?)

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#15

Please do …

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#16

Forgot “Crystal Balls”

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#17

The 2020202020 had me confused for a long time.

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#18

I’m with you…confused on the 20202020…thought people are rooting for newer model coming in 2020 or something. Lol

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#19

Car is “Punched”

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#20

Means it can no longer be leased, dealer has cashed in the incentives in some situations.

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