Gimme gimme gimme 6 more! How bout 12 more ?!??
Got a black Pathfinder SL yesterday on a very similar deal, minus the MSDās. Absolutely loving it so far. So much car for the money.
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Whoever wrote the legislation on whatās required to be disclosed on a lease contract screwed up by not requiring the MF to be explicitly stated.
But itās easy enough to calculate the MF from the numbers on the contract.
MF = (rent charge) / ((adj. cap. cost + residual) * months)
On the NMAC contract these are found at:
5c - adj. cap. cost
5d - residual
5f - rent charge
9 - months
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Interesting adjustment. Dealership called me last night letting me know that NMAC kicked backed the paperwork because too much of a MSD was collected ($4,950) and needed correction by month end. We (re)e-signed some docs so that the new number for the MSDs is $2,700. So theyāll be cutting a $2,250 check back to me. Sweet!
Thatās a great formula to haveā¦thanks for sharing!
Working backwards (using this formula), the money factor worked out to exactly what I had manually āguessedā in the calculator. Math really does not lie! 
Iāll update my post, so as not the confuse things hereā¦
I would like to know more about lease extensions.
Are they something discretionary (like NMAC decides if they will/will not do it). Or is it a standard option that is available?
Can you request this extension at any time during the lease? Or does this option become available only towards the end of the lease?
I was going into this 18 month lease with the plan/intention of asking for that 6 month extension. But based on your comment, I am now wondering if I am banking of something that is not certain. And I am wondering if now is too early to start looking into it, or if I should wait.
Any insight (from you or anyone else) appreciated. (I have done many leases in the past, but I have never done a lease extension).
Itās at the discretion of the lessor (NMAC in this case).
Ask towards the end
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I recently extended a lease w/Chase Bank (for a Mazda vehicle) towards the end of the original 36 month term. It was very straightforward & easy for a 6 month extension. The monthly payments remained the same and the residual also came down too (by more than additional payments which is crazy?!). For my other car, a Hyundai w/Hyundai Finance, I have to wait until the last month of the original term to make the request. Actually have to make that call this week as I have 2 weeks left on that car. Clearly, Iām not too worried theyāll grant an extension 
As for my new Nissan w/NMAC on an 18-month lease, the dealership said that NMAC always grants extensions. He said up to a year. I asked if thereās anything written about that and he said that there wasnāt. I did some googling about that and it seems like 6 months is more common. Some said during the height of the pandemic, it was reduced to 2-3 months. YMMV it seems. But I agree, wait towards the end of the initial 18 month lease period.
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Thanksā¦sounds good!
18 months is just way too short. 24 months or 30 months would be the sweet spot on this for me.
(Anecdotal / Not related Story: I had an 18 months lease on an Infiniti GX37 that I got into for $199 a month (thanks to here). Anyone remember that? ā This was back when they were trying to time that 18 month lease to end, when the Q50 was going to be released. That was a fun carā¦didnāt want to loose it after such a short time. I didnāt even have an account here thenā¦maybe I was lurking then? So many great leases thanks to here).
Couple clarifications here:
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Policies across different lessors should not be conflated. For example, NMAC does not reduce the RV/payoff with extensions even though Chase does.
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Dealers should not be relied on for information regarding lessors. Often theyāll just tell you what you want to hear to get the deal done. If someone relies on this information and it turns out to be incorrect, then theyāre SOL.
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Interesting little nugget of new information now that Iāve leased the car and have an online account w/NMAC. Since I did a one-pay lease, as expected, I donāt have any payments due thru lease maturity in 18 months. However, my account is showing that the next amount due 18 months from now is $195. This amount is equal to 1/18th of my contracted Total Lease Payment. Presumably this would be the monthly amount due during any future lease extension. Great to know this info so soon. Surely makes this an even better leased deal presuming I end up extending at the end.
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Good evening ! Could you please advise as to how you went about extending the Mazda lease ? Going to be running into same scenario in a few months. Thank you.