Leasehackr score

Suggestions
1

I really like the leasehackr score. I think right now the score only takes into account the monthly payment, and ignores acquisition or downpayment.
So a lease with 0 down right now that gets a score of 10 years will actually get a higher score if there is downpayment on it. I think it would make more sense if the score remains the same in that case, since you are essentially paying the same amount if the interest is negligible.

Just a thought.

2

I was thinking the same thing yesterday. It can be very misleading if you put a large down which has many disadvantages besides if you lease is totaled. Also, in most cases you are giving an interest free loan.

I think the Leasehackr score should take the total cost of the lease divide that by the number of months in the lease and calculate the number of years it would take to exceed the MSRP. I think that would be a more apples to apple approach.

3

Hi @dmchanmaster and @flyindarkness,

Thank you for the great suggestions! We actually have been having internal discussions about revising the Leasehackr Score. Having readers input helps a lot! I agree with you that the Leasehackr Score is skewed by the down payment, although we highly discourage a down payment. The Leasehackr Score metric was created when we created LeaseCompare. The idea is to enable readers to compare cars on the same premises-- $0 down, 12k miles, and without the consideration of taxes. One problem with dividing the total lease cost by the number of months is that it includes taxes. This creates variations among states as different states have different tax schemes. Taxes do not affect the Leasehackr Score function on the calculator for individual readers but they affect our editorial evaluation and LeaseCompare, which does not take into consideration of taxes and doc fees. Maybe we can divide the total lease cost excl. taxes by the number of months. Any other suggestions?

4

Hi littleviolette,

I think that would work. I think it should include MSD refund - deposition fees as well?

It might be helpful to have an Individual Leasehackr score as well that includes everything and maybe a user input box to include rebates such as CVRP? Maybe like a Gross Total Cost and a Net Total Cost of lease?