The problem is that Section 8, Line (b) of the lease says it’s up-front sales tax and it is not up-front as it is being capped. This is misleading. It’s paid up-front on the lessee’s behalf but financed in the lease. So, the lessee might thing that he/she is paying it up-front when it’s really paid on their behalf.
Section 5, Line (a):
I see two figures there. $21,898.83 and $23,407.04.
Which one was the actual selling price of the vehicle?
Thanks!
$21,898.83. The agreed upon value is always the sell price.
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If a customer doesn’t realize they have equity when they turn in a lease, can a dealer secretly use that equity to increase their profits?
Absolutely. If you have equity and just toss them the keys, of course theyre going to make more money when they sell it
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Gotcha. My buyout is $13,665, Carvana offered $16,000, but can’t purchase directly from NMAC. I don’t know much about this stuff. I’m just trying to find out how to use the equity in my current lease to benefit the new lease deal.
Though I wont be leasing another Nissan, can I try to sell my Nissan to another Nissan dealer?
OR
Would I be able to use the equity in my Nissan to negotiate a deal for the Hyundai, if a particular Auto Group sells both brands?
Try to get a nissan dealer (or affiliated dealer) to buy it out. Thats your option
In general there are two types of leases: bank gets screwed or bank screws you.
In this segment it’s all the latter.
If I were you I’d stop getting screwed but your call.
Quick question: How is the rent charge calculated?
Monthly Rent Charge = MF x (adj. Cap + Residual)
= .00164 x (21319.64 + 13664.80)
= 57.37
Total Rent Charge = 36 x 57.37
= 2065.32
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