Determining money factor/interest rate on lease quote

[somethingforcat]

I received these numbers when I applied for a lease from Rivian/Chase. The monthly payment seems crazy high. How can I determine what the money factor is? (My sales tax rate is 7.75% in CA)

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[Doc]

Auto Lease Calculator
Monthly Lease Payment: $1,514.19

I played around with the following site and when I used a factor of .00340 I got your payment to within $2. That yields an APR of about 8.16% (see below). Here's the link to the calculator site so you can plug things in yourself to double check things. Hope this helps.

https://www.calculator.net/auto-lea...residualvalue=24,000&printit=0&ctype=standard

Monthly Depreciation	$934.53​
Monthly Interest	$470.75​
Monthly Tax	$108.91​
Money Factor Equivalent APR	8.16%​
Down Payment	$8,000.00​
Upfront Tax	$620.00​
Total 36 Lease Payments	$54,510.87​
Total Cost to Own After Lease Ends	$119,599.41​
If purchased under the same conditions
Monthly Payment	$2,702.85​
Sale Tax	$7,288.88​
Upfront Payment	$15,288.88​
Total Loan Amount	$86,050.00​
Total of 36 Loan Payments	$97,302.61​
Total Loan Interest	$11,252.61​
Total Cost to Own	$112,591.48​

 

[somethingforcat]

I had used an online calculator on it the other day but wasn't sure if I did it right. Thanks for running this.

 

[leeormorris]

My recent lease on a 2025 Tri R1S with a purchase price of $107,250 after the $6000 reduction incentive they are offering on a 2025 R1S Tri Max for Trade-in request of a EV or PHEV. Money Factor should be around ~ $0.00331 or about 7.95% APR. THe EV Lease credit and $500 deposit came off as additional Cap Cost reduction so the Adjusted Cap Cost was $100,700.. Rent Charge for 3 years with 12K miles was about $20,200. The residual is 60% at $68, 820. You dont see any of the lease details until 2 days before delivery. Hope this helps anyone else shopping for a lease on the 2025 Tri Max in Storm Blue with Slate interior - 22" wheels and Sound & Vision package. Monthly Lease Payment with tax in CA ~ $1580 per month - Zero down except of the $500 deposit.

Please use my referral code if this help with your purchase. Happy to split the Referral I get and order you $250 worth of gear in addition to the $500 you get for using my code.

Referral: Receive a total of $750 at the Gear shop + 6 months of free RAN Charging.
You get $500, but I'm also giving you $250 that I receive, so for a total of $750!!
https://rivian.com/configurations/list?reprCode=LEEOR4104897
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