These negative residual leases don’t work very well in the lease calculator, or the dealers system for that matter. The lease needs to reflect a cap cost of $100 over the residual. So the dealer needs to play games to shove most of the fees into the cap cost. I paid $7089, but the lease says I paid $8005. I had a similar situation when we purchased a 99% residual Frontier last September.
I think this deal would not be very difficult to replicate if you qualify for the lease loyalty. Locally (AZ) there are multiple dealers offering 15%+ off MSRP. Coupled with an 86% residual, and $1500 lease loyalty you are most of the way there. Probably the most difficult part is finding a dealer willing to 1) Do a one pay with multiple MSD’s at the buy rate and 2) Adjust the cap cost by moving things around, which is a bit of grey area.
The calculator can get you in the ballpark, but you really need to do the calculations by hand to get an accurate number, and to check the dealers numbers.
Please share - how did you researched for the discounts offering 15% off MSRP like any website or searched individual dealer sites ? Appreciate your inputs.
@gnkabap06 I used Car Gurus. Filter by trim and sort by price, then skip past the sponsored results. The Pro-4x is the sweet spot of high discounts and high residual.
@krish Not quite. It’s confusing the way they have to work it to keep the residual from being negative. I’ll try to explain, as best as I understand.
$7,089 paid to dealer
+$1,500 lease loyalty
-$2700 refundable security deposit
=$5,889 to cover the lease payment and all fees
$5,889
-$3,792 lease payment
=$2,097 to cover all fees
This is where it gets confusing. As you noticed there were $2,968 fees, but we only have $2,097 to cover those fees. This is because they were able to tuck some of those fees into the sale price of the vehicle.
The purchase price was $49,530, but the contract says $50,212. This is because the residual can’t be negative. So they increase the selling price by $682, and then made it look like the amount paid (line 4.III) was $8,005, which is $916 more than I actually paid them. There is a little more strangeness going on there. Registration fees are correct, but the title fees I think were made up to make everything add up. I agreed to the numbers over email, and then brought in a cashiers check for the exact agreed upon amount. The sales manager and finance guy are working in different systems, so there was a lot of number juggling going on to make everything work out down to the penny.
Usually I double check every figure on a lease, but I still can’t get everything to add up perfectly. There are too many hidden variables to be able to work it out. So ultimately in a case like this, you just need to be good with what you do know. In my case that is $4,388 paid for 18/10k = $244 effective monthly payment. Or as I like to tell myself, $188/month excluding the $1k license plates.
Super interesting that the selling price is less than the residual even before the Loyalty rebate. Great job and deal. Cool truck. I’m looking at a red one - hoping to make a deal this week.
I’m tempted as well, just for the low cost of it. Right now am getting 23mpg on my 2022 Ram 1500 RWD QC, so some of the cost savings would be eaten by the poorer mileage and need for premium fuel. The other 3 vehicles in my “fleet” all take premium gas, so enjoy not putting it in one. Also, I had to do some searching to find a Ram without a center console and think I would really miss the front bench. But sub $300/mth for a full size truck (where I could put adults in the backseat) is very attractive.
Having searched high and low for a crew cab truck with at least some options for a good price, the Titan is an unbeatable deal given the right discount & MSD’s/one pay. A comparable truck from Chevy, GMC, Toyota, or even Ram will run 500+ a month all in, all day long. Sure there are outliers and the real base level trucks that could compete, but feature wise the Pro-4x seems like a no-brainer to me.
I agree, the value of this Titan deal is tremendous compared to what else is out there these days. I’m just a bit inertial at the moment as I like the Ram I already own even if the Titan Pro-4X is much better equipped.
FUEL RECOMMENDATION
NISSAN recommends the use of unleaded
premium gasoline with an octane rating of
at least 91 AKI (Anti-Knock Index) number
(Research octane number 96). If unleaded
premium gasoline is not available, you may
use unleaded regular gasoline with an octane rating of at least 87 AKI number (Research octane number 91), but you may
notice a decrease in performance.
Titan values took a nasty hit this year. 2023 Titans are priced the same as 2022 titans, the market doesn’t know what to do. While the new ones are the same or higher than last year.
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