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2014 Nissan Maxima Lease Questions

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  • gdautigdauti Posts: 11
    edited April 15

    @kyfdx%40Edmunds said: In theory... :)

    ...but in practice lol?

    Anyway, here are my calculations for an SV w/ Sport and Tech, let me know how it looks?

    MSRP: $38,450 Sale Price: $32,050 Residual value: $21,532 (based on 36/15k, 56%) Cap reduction/Down payment: $0

    (32,050-21,532) = 10,518/36 = $292.08 (Monthly Dep. Charge)

    (32,050+21,532) = 53,582 * .00003 = $1.61 (Monthly Finance Charge)

    (292.08 + 1.61) = $293.69 * 1.07 (NJ tax) = $314.25 <==== Monthly payment

    What about inception fees? Does anyone have that breakdown? I know there is a First month payment, as well as Bank fee.

  • kyfdxkyfdx Posts: 31,211

    Acquisition fee of around $600. NJ title/registration approx. $400. Dealer doc fee? probably $200-$400.

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  • flyingorlandoflyingorlando Posts: 5
    edited April 19

    Just got a 2014 Maxima SV W/Sport Package yesterday:

    MSRP: $38,635 (They added a $1,595 Envir Prot Pkg, Nitrogen in tires for $49, Trunk net $49, and Wind deflector $199 but I didn't pay for any of it...the actual window sticker price was $40,527) Actual paid for car: $36,312.75 Dealer fee: $689 Aquisition fee: $595 FL registration fees: $68.50

    Trade-in: 2013 Altima SL was paid off. Had a balance of $21,950. Black book value is around $20,000 so they ate about $2,000. Plus they paid the $60 service bill (was getting oil changed and tire rotation).

    Amount due at signing: $575.00

    Other: They will make my first 2 payments

    Total monthly payment: $435 per month. 39mo / 12k per year (56% residual) Money factor: 0.00123 (Even though my FICO scores were all in the 710-720 range, when they pulled it they showed a 675 and therefore got a tier 5 approval)

    How did I do?

  • gdautigdauti Posts: 11

    @flyingorlando said: Just got a 2014 Maxima SV W/Sport Package yesterday:

    MSRP: $38,635 (They added a $1,595 Envir Prot Pkg, Nitrogen in tires for $49, Trunk net $49, and Wind deflector $199 but I didn't pay for any of it...the actual window sticker price was $40,527) Actual paid for car: $36,312.75 Dealer fee: $689 Aquisition fee: $595 FL registration fees: $68.50

    Trade-in: 2013 Altima SL was paid off. Had a balance of $21,950. Black book value is around $20,000 so they ate about $2,000. Plus they paid the $60 service bill (was getting oil changed and tire rotation).

    Amount due at signing: $575.00

    Other: They will make my first 2 payments

    Total monthly payment: $435 per month. 39mo / 12k per year (56% residual) Money factor: 0.00123 (Even though my FICO scores were all in the 710-720 range, when they pulled it they showed a 675 and therefore got a tier 5 approval)

    How did I do?

    The lease numbers/calculations are right in line. You probably could've gotten another $1k off the sticker price. Only gripe that I would have is the MF they used. If you truly have a 710-720 FICO score, you should've gotten a much better rate for a Nissan Maxima. Remember, dealers make money off banging you out on the interest rate.

  • My Auto FICO came in at a 670, so that put me in tier 5 and that's why the MF was higher.

    Running the numbers on my leasematic app...

    The MSRP was $38,635. Selling price was $32836. Had a $595 aquisition fee and $689 dealer fee ($1,284 total). Residual 56%, MF .00123. 6.5% FL sales tax.

    Trade valued at $21,138. Payoff was $21,950. This equals -$822 in equity.

    They make my first 2 payments and I wrote them a check of $575. This equals in another $295 in benefit for me.

    Do you really think I could have gotten more off the car? We're already thousands below invoice, and the $2,000 cash doesn't apply to leases...only a $575 incentive.

    I basically got the car for $31,719 plus TTL from an original MSRP of $38,635. That number could actually be even lower because my trade isn't worth $21,138. Even KBB trade-in value was $20,600...which is usually higher than most dealers give you.

    Does this make sense?

  • gdautigdauti Posts: 11

    flyingorlando,

    Your calculations/numbers look fine to me, when I crunch the numbers manually, I get a payment of $437 per month to your $435. Actually, the selling price is solid, as i didn't factor in the negative equity from your previous whip. My only gripe was the MF used, but if that was truly your credit score, then it is what is. If you were eligible for top tier credit, you'd be paying about $68 less per month. Regardless, all things considered, you got a solid deal..enjoy the ride.

  • Yes, it does stink that I only qualified for Tier 5 and if I would have waited about 2-3 months I think my score would have gone up to 690 or so since my revolving credit util is 42% now, and will be going down to the 15-20% range pretty soon. Oh well...

  • redls1redls1 Posts: 24
    edited April 25

    So anymore buyers want to post up there deals? This way I can walk in with some ammo and say I want the same deal. I wouldnt be going in with negative equity, live in TN and last I checked had a 734 score. Lol looking at to many cars.

  • flyingorlandoflyingorlando Posts: 5
    edited April 25

    I was looking around in the entire state of Florida and the guy I used here in Orlando gave me the best deal bar none.

    Buy a ticket on SW for $100 and come down to Orlando. He'll come get you at the airport and he told me that he'll give AT LEAST $7,500 off sticker for a 2014 SV model if you finance via NMAC or $5,000 off if you lease.

    Could make for a nice weekend :smiley:

  • morghead12morghead12 Posts: 14

    Just got a quote from Classic Nissan in Streetsboro, Ohio on a 14' Maxima SV w/ Sport Package...note this is without Tech Package. Steve told me $1000 down, $329/mo...36mo/12k a year lease...this includes all taxes and fees. County taxes are 6.75%.

  • MichaellMichaell ColoradoPosts: 8,272

    @morghead12 said: Just got a quote from Classic Nissan in Streetsboro, Ohio on a 14' Maxima SV w/ Sport Package...note this is without Tech Package. Steve told me $1000 down, $329/mo...36mo/12k a year lease...this includes all taxes and fees. County taxes are 6.75%.

    Seems a fair deal. What are the MSRP and selling price they are using to get you to $329/mo?

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  • morghead12morghead12 Posts: 14

    MSRP was $37,785 and his selling price was $34,000. He was claiming it was an "insane deal". I had to laugh at his comment. He also tried saying he didn't care about losing $600 to sell this car when they were going to get a $75,000 bonus for hitting or exceeding quota.

  • morghead12morghead12 Posts: 14

    Do Maxima deals generally get better towards summer or is that unpredictable?

  • MichaellMichaell ColoradoPosts: 8,272

    @morghead12 said: MSRP was $37,785 and his selling price was $34,000. He was claiming it was an "insane deal". I had to laugh at his comment. He also tried saying he didn't care about losing $600 to sell this car when they were going to get a $75,000 bonus for hitting or exceeding quota.

    That may or may not be true. Dealers do get volume bonuses and will often make super deals to achieve those targets.

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  • MichaellMichaell ColoradoPosts: 8,272

    @morghead12 said: Do Maxima deals generally get better towards summer or is that unpredictable?

    My magic 8 ball says "cannot predict now".

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  • gdautigdauti Posts: 11

    Hey Guys, anyone have May residuals and money factors for a 2014 Maxima SV, Sport with Tech: 36 months/15k miles and 36 months/18k miles?

    Thanks!

  • MichaellMichaell ColoradoPosts: 8,272

    @gdauti said: Hey Guys, anyone have May residuals and money factors for a 2014 Maxima SV, Sport with Tech: 36 months/15k miles and 36 months/18k miles?

    Thanks!

    Sorry, we don't yet have the May numbers available.

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  • kyfdxkyfdx Posts: 31,211

    @gdauti said: Hey Guys, anyone have May residuals and money factors for a 2014 Maxima SV, Sport with Tech: 36 months/15k miles and 36 months/18k miles?

    Thanks!

    .00003 MF and 54% residual for 36mo, 15K/yr. Additional miles have to be accounted for on a per/mile basis.

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  • flyingorlandoflyingorlando Posts: 5

    Looks like the residuals for May went down quite a bit. I did a 39 month 12k lease on an SV and the residual was 56%.

  • morghead12morghead12 Posts: 14

    Anyone get a Maxima SV Sport in the month of May? Curious to see how the deals are.

  • gdautigdauti Posts: 11

    @morghead12 said: Anyone get a Maxima SV Sport in the month of May? Curious to see how the deals are.

    I'm in NJ, and I actually got quoted yesterday for a 2014 Nissan Maxima SV w/Sport and Tech (MSRP $38,450). Without going through the numbers (Cap Cost, Resduals etc), they quoted me a SIGN AND DRIVE at $439 per month. The terms were 36mo/15K miles per. Keep in mind that I currently have 7 payments at $455 per left on my G37 coupe, so the remaining total of $3,185 would be rolledd in. If I didn't have payments to roll in, I would've been in the $350 range for a SIGN AND DRIVE.

  • elitox87elitox87 Posts: 13

    is it safe to assume .00003/ 55% for 12k/36? on 3.5SV ?

  • kyfdxkyfdx Posts: 31,211

    @elitox87 said: is it safe to assume .00003/ 55% for 12k/36? on 3.5SV ?

    Yes.. for SV Base or Sport.. subtract 1% for SV Premium

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  • elitox87elitox87 Posts: 13
    edited May 15
  • olliesam3olliesam3 Posts: 10

    Out of curiousity, how do you guys they all these numbers? Do you get them direct from the manufacturers? Basically, I am trying to think of how I am supposed to tell these dealers that they are wrong when they quote me a lower residual or higher money factor.

  • MichaellMichaell ColoradoPosts: 8,272

    @olliesam3 said: Out of curiousity, how do you guys they all these numbers? Do you get them direct from the manufacturers? Basically, I am trying to think of how I am supposed to tell these dealers that they are wrong when they quote me a lower residual or higher money factor.

    Can't comment on sources or methods.

    Residual values are established by the finance company and cannot be changed by the dealer. However, dealers are free to use other sources of financing and those companies may have different residuals and MFs - however, we don't have access to that information and won't be able to confirm any information.

    Base money factors are often marked up by the dealer for extra profit. If they refuse to negotiate, find another dealer.

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  • gdautigdauti Posts: 11

    Alright guys, signed the following Lease deal over the weekend in NJ. 2014 Nissan Maxima, SV, Sport and Tech. MSRP was $38,925. Sale Price/Cap Cost was $31,900, the term was 39 mo./15k miles per. Residual Value is $20,630.25, MF: .00003. I rolled in all the upfront fees, and my monthly payment came out to $339 per month, with First month + DMV due at signing. How do you think I did?

  • kyfdxkyfdx Posts: 31,211

    Geez... Maximas are cheap to lease... Nice job!

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  • gdautigdauti Posts: 11

    @kyfdx said: Geez... Maximas are cheap to lease... Nice job!

    Yea bro, you really can't beat the Maxima Lease or Purchase for that matter. A lot of bang for the buck. I almost financed it for 0% at 60 months, but decided that leasing was the way to go, as the Money Factor was practically zero and the buy out after 39 months is $20.6K.

  • kyfdxkyfdx Posts: 31,211

    Don't blow a cheap lease by buying the car at lease end... ;)

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