The Model Black prices each lease on its brand's captive lender program where one is in effect, because the captive writes nearly all of its brand's leases. A captive lender is the manufacturer's own finance company: Mercedes-Benz Financial Services, BMW Financial Services, Toyota Financial Services.
It exists to sell the brand's cars, so it prices leases in ways a bank will not.
Each month's program (residuals, base rates, lease cash) is loaded on the server. When you open a vehicle page the payment is computed from the dealer's published selling price, the program figures for that model, your credit range, and the structure you chose. The program figures themselves are not displayed; they are the lender's. The payment is.
Rarely on a lease; captives dominate. On a purchase, a credit union or bank loan sometimes beats the captive's finance rate when no promotional APR is running. The Model Black shows the finance payment alongside the lease so you can see both on the same car, and the Concierge can explain which program is behind each number.
Each manufacturer's own finance company: Mercedes-Benz Financial Services, BMW Financial Services, Toyota Financial Services, Lexus Financial Services, Audi Financial Services, Porsche Financial Services, GM Financial, Ford Credit, Hyundai Motor Finance, Kia Finance America, Nissan Motor Acceptance, and the rest. Each writes the leases and most of the loans on its brand's new vehicles and publishes the residuals and rates The Model Black prices on.
Often, yes. The Model Black's vehicle page shows the date of the program a payment is built on.
Some banks and credit unions write leases, but the captive's residuals and subsidies usually make it the sharper number. Compare the payment, not the lender.
Both. The dealer sets the selling price and has the option to include dealer participation on the rate; the captive sets the residual and base rate. The Model Black applies both and shows the result.