caffeinekid
Well-known member
I have Googled, gone to nissanusa.com and searched the threads (albeit not hundreds of them) here. Where do you go to find the CURRENT tier-based money factor being offered by NMAC?
Current money factor
- Thread starter caffeinekid
- Start date
Help Support My Nissan Leaf Forum:
Based on some quotes I got today:
2013 Leaf SV with QC/LED
36 month / 12k mile per year
Residual: 41%
Money Factor: 0.00003 or 0.00004 (Excellent Credit)
I haven't figured out why two dealers specified 2 different money factors, but they're so low that it only makes a tiny bit of difference.
--G
2013 Leaf SV with QC/LED
36 month / 12k mile per year
Residual: 41%
Money Factor: 0.00003 or 0.00004 (Excellent Credit)
I haven't figured out why two dealers specified 2 different money factors, but they're so low that it only makes a tiny bit of difference.
--G
DaveinOlyWA
Well-known member
mine was more than double the rate at .00008 but it is still essentially an interest free loan. if you are thinking about getting a LEAF and want to maintain a budget, now is the time to do it. my rent charge (essentially interest) for the entire 3 year lease is 35 dollars and change... might as well be zero
caffeinekid
Well-known member
Well, I was tossing around the idea up trading up one of the 2011 Leafs for a 2013. I went into a dealer nearby and queried a quick rundown of terms based on trading in the 2011 (valued at $12K by the way, NOT the $15700 residual that Nissan has dictated) tier-0 credit and $0.00 down. I was given a money factor of 0.00047. This is when I started this thread since I had a suspicion that this was in fact NOT the top-tier rate. This is one of the reasons I NEVER give my SSN until the last possible minute. Its kind of funny how some dealers will run your credit through 3 or 4 inquiries even though you clearly qualify for NMAC's best rates. Spread that across multiple dealers and you can get a lot of inquiries.
When we leased our second Leaf, we had to do it from out of town and that particular dealership was very easy to work with. In fact, they sent the Nissan dealer's form that stated the different tiers and every possible detail of the transaction so that there wasn't time wasted on the part of either party. I have googled that form name and number in various ways with no luck. If there is one thing that irritates me, it is when you cannot simply get all relevant information online, go into a dealership, give them the necessary information, get a straight AND DETAILED answer, sign the paperwork and be out without having to sitting around for 3 hours.
Anyway, I called another dealership and gave them the details without going in. They stated a money factor of 0.0003, so the value is either a pliable number, or dealer number 1 lied to me. I am also a little confused because there seems to be an additional placement value in the rates you guys are giving (0.0003 vs. 0.00003), which only makes me wonder yet again why the rates are not simply available on the Nissan finance page, or anywhere outside of the dealership for that matter.
When we leased our second Leaf, we had to do it from out of town and that particular dealership was very easy to work with. In fact, they sent the Nissan dealer's form that stated the different tiers and every possible detail of the transaction so that there wasn't time wasted on the part of either party. I have googled that form name and number in various ways with no luck. If there is one thing that irritates me, it is when you cannot simply get all relevant information online, go into a dealership, give them the necessary information, get a straight AND DETAILED answer, sign the paperwork and be out without having to sitting around for 3 hours.
Anyway, I called another dealership and gave them the details without going in. They stated a money factor of 0.0003, so the value is either a pliable number, or dealer number 1 lied to me. I am also a little confused because there seems to be an additional placement value in the rates you guys are giving (0.0003 vs. 0.00003), which only makes me wonder yet again why the rates are not simply available on the Nissan finance page, or anywhere outside of the dealership for that matter.
LTLFTcomposite
Well-known member
In case I wasn't the last guy to come to understand this, you multiple the money factor by 2400 to get the APR.
So .00047 is about 1.1 % APR.
So .00047 is about 1.1 % APR.
DaveinOlyWA
Well-known member
caffeinekid said:
my MF is ".00008" and there is no confusion on my part about how many zero's are in there. I would simply ask what the "rent" charge would be on the lease. if they won't give you that, tell them you cannot make a decision without it. my rent charge was $35.75 on a 3 year lease.
Most of the dealers I contacted about my lease just took me at face value when I told them I was in the top credit tier. One told me he had to run my credit before he could make me an offer. I told him he could make me an offer based on top-tier credit or I would work with a different dealer.
--G
--G
