Use this calculator to estimate your potential monthly lease payments for a new Nissan vehicle. Understanding the various components of a lease can help you budget effectively and make an informed decision.
Understanding Your Nissan Lease
Leasing a Nissan can be an attractive option for many drivers, offering lower monthly payments compared to financing a purchase, and the flexibility to drive a new vehicle every few years. However, understanding how lease payments are calculated is crucial.
Key Components of a Nissan Lease:
Nissan Vehicle MSRP: This is the Manufacturer's Suggested Retail Price of the car. While it's a starting point, your actual lease is often based on a negotiated selling price.
Negotiated Selling Price: This is the price you and the dealership agree upon for the vehicle. A lower negotiated price directly reduces your capitalized cost and, consequently, your monthly payments.
Residual Value Percentage: This is the estimated value of the Nissan at the end of the lease term, expressed as a percentage of the MSRP. A higher residual value means you're depreciating less of the car's value, leading to lower monthly payments. Nissan's residual values are set by the leasing company (Nissan Motor Acceptance Corporation – NMAC).
Lease Term (Months): The duration of your lease, typically 24, 36, or 48 months. A longer term might mean lower monthly payments but you'll pay more in finance charges over time.
Money Factor: This is the lease equivalent of an interest rate. It's a very small decimal number (e.g., 0.00070). To convert it to an approximate annual percentage rate (APR), multiply it by 2400 (0.00070 * 2400 = 1.68% APR). A lower money factor means lower finance charges.
Capitalized Cost Reduction: This is any upfront payment you make to reduce the total amount being financed in the lease. It's similar to a down payment on a purchase. While it lowers your monthly payment, it's an out-of-pocket expense.
Trade-in Value: If you have a vehicle to trade in, its value can be applied as a capitalized cost reduction, effectively reducing the amount you need to pay upfront or lowering your monthly payments.
Acquisition Fee: This is a fee charged by the leasing company (NMAC) for setting up the lease. It covers administrative costs and is typically paid upfront or rolled into the capitalized cost.
Sales Tax Rate: Sales tax is applied to your lease. The way it's calculated varies by state; some states tax the total capitalized cost, while others tax each monthly payment. Our calculator assumes tax on the monthly payment for simplicity.
How the Nissan Lease Calculator Works
Our calculator takes these inputs to determine your estimated monthly payment. It first calculates the depreciation amount (the difference between the adjusted capitalized cost and the residual value) and the finance charge (based on the money factor). These two components form your base monthly payment, to which sales tax is then added.
By adjusting the various inputs, you can see how different factors like a higher capitalized cost reduction, a lower negotiated price, or a better money factor can impact your monthly outlay. This tool is designed to give you a clear picture of what to expect when leasing a Nissan.
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function calculateNissanLease() {
// Get input values
var vehicleMSRP = parseFloat(document.getElementById("vehicleMSRP").value);
var negotiatedPrice = parseFloat(document.getElementById("negotiatedPrice").value);
var residualPercentage = parseFloat(document.getElementById("residualPercentage").value);
var leaseTerm = parseFloat(document.getElementById("leaseTerm").value);
var moneyFactor = parseFloat(document.getElementById("moneyFactor").value);
var capCostReduction = parseFloat(document.getElementById("capCostReduction").value);
var tradeInValue = parseFloat(document.getElementById("tradeInValue").value);
var acquisitionFee = parseFloat(document.getElementById("acquisitionFee").value);
var salesTaxRate = parseFloat(document.getElementById("salesTaxRate").value);
// Validate inputs
if (isNaN(vehicleMSRP) || isNaN(negotiatedPrice) || isNaN(residualPercentage) || isNaN(leaseTerm) ||
isNaN(moneyFactor) || isNaN(capCostReduction) || isNaN(tradeInValue) || isNaN(acquisitionFee) || isNaN(salesTaxRate)) {
document.getElementById("nissanLeaseResult").innerHTML = "Please enter valid numbers for all fields.";
return;
}
if (vehicleMSRP < 0 || negotiatedPrice < 0 || residualPercentage < 0 || leaseTerm <= 0 || moneyFactor < 0 ||
capCostReduction < 0 || tradeInValue < 0 || acquisitionFee < 0 || salesTaxRate vehicleMSRP) {
document.getElementById("nissanLeaseResult").innerHTML = "Negotiated Selling Price cannot be higher than MSRP.";
return;
}
// Convert percentages to decimals
var residualDecimal = residualPercentage / 100;
var salesTaxDecimal = salesTaxRate / 100;
// 1. Gross Capitalized Cost
var grossCapitalizedCost = negotiatedPrice + acquisitionFee;
// 2. Total Capitalized Cost Reduction
var totalCapCostReduction = capCostReduction + tradeInValue;
// 3. Adjusted Capitalized Cost
var adjustedCapitalizedCost = grossCapitalizedCost – totalCapCostReduction;
if (adjustedCapitalizedCost < 0) {
document.getElementById("nissanLeaseResult").innerHTML = "Capitalized Cost Reduction exceeds Gross Capitalized Cost. Please adjust inputs.";
return;
}
// 4. Residual Value Amount
var residualValueAmount = vehicleMSRP * residualDecimal;
// 5. Depreciation Amount
var depreciationAmount = adjustedCapitalizedCost – residualValueAmount;
if (depreciationAmount < 0) {
// This can happen if residual is very high or cap cost is very low.
// In a real lease, this would mean the car is appreciating or has a very low lease cost.
// For calculation purposes, we'll allow it but it's unusual.
// For simplicity, we'll just proceed, but a real-world scenario might flag this.
}
// 6. Monthly Depreciation Charge
var monthlyDepreciationCharge = depreciationAmount / leaseTerm;
// 7. Monthly Finance Charge (Rent Charge)
var monthlyFinanceCharge = (adjustedCapitalizedCost + residualValueAmount) * moneyFactor;
// 8. Base Monthly Payment
var baseMonthlyPayment = monthlyDepreciationCharge + monthlyFinanceCharge;
// 9. Sales Tax on Payment (assuming tax on monthly payment)
var salesTaxOnPayment = baseMonthlyPayment * salesTaxDecimal;
// 10. Total Monthly Payment
var totalMonthlyPayment = baseMonthlyPayment + salesTaxOnPayment;
// Calculate Total Lease Cost (excluding potential end-of-lease fees like disposition fee, excess mileage, wear & tear)
var totalUpfrontCosts = capCostReduction + tradeInValue + acquisitionFee; // Note: trade-in reduces upfront cash, but is part of total value applied
var totalPaymentsOverTerm = totalMonthlyPayment * leaseTerm;
var overallTotalLeaseCost = totalPaymentsOverTerm + (acquisitionFee – (tradeInValue + capCostReduction)); // Simplified total cost for comparison
// Display results
var resultHtml = "