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Nissan Altima Lease Questions

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Comments

  • greanpea68greanpea68 Posts: 1,996
    I would bet there is money down with that offer for a 2008 2.5 Sl for $350/mo
  • There is not supposed to be any money down, only 1st mos. and dmv.
  • My wife needs to replace her 06 Accord which is leased. Her present lease ends in December.
    She needs 35000 miles/year.
    We have narrowed it down between the altima and the new Accord.
    Any thoughts? Which car will gives us the better lease deal?
  • Car_man,

    I'm looking to lease a 2.5S 6speed with 12K miles/year.
    Can you tell me what the money factor and the residuals will be for October for 2007 and 2008 models?

    Also, are there any differences between 2007 and 2008?

    Thanks,
    Vlad
  • Vlad,
    I'm looking at similar car.
    2008 has Anti Lock brakes included when on 2007 it was an option. Otherwise it's the same car.
    I'm trying to get numbers but dealers in NJ say that they cannot give residual and MF numbers over the phone.
    I'f I will find out will post them here.

    5 year financing is 2.9%
    3 year - 1.9%
  • Hi Car Man!

    Can you give me the residual and buy rate for an '08 3.5 SE Coupe w/CVT for a 24 month/12k mile lease? Thanks
  • dexiondexion Posts: 6
    Hey can anyone tell me if the $1000 cash back incentive on the Altima's during the month of october can apply on a lease? I called my dealership and they said yes but I'm not 100% sure can anyone here who knows tell me?
  • jv0704jv0704 Posts: 3
    Hi, I just purchased a lease for 08' Nissan Altima 2.5S Base package white.

    I have traded in my 350z which had $7500 left on the car and paid $2000 down and got a lease payment for $270/month. I have excellent credit.

    Lease was for $12k miles and for 39 mo.

    Did I get a good deal on this?

    I thought I was getting the best possible deal there is but reading some of these posts it feels like not so.
  • dexiondexion Posts: 6
    If I understand what you're saying correctly, you still owe'd $7500 on the Z that had to get rolled into the Altima and put down $2000 so yes if thats what you did thats a good deal. Damn going from the Z to the 2.5 must have been a killer!
  • qbrozenqbrozen Posts: 17,278
    i'm not understanding it quite as easily. You owed $7500 on the Z? But what was it worth as a trade?

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • Hello kimble22. Here's the information that you're looking for. Nissan Motor acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5S with 15,000 miles per year are .00155 and 57%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi mlees33. NMAC's lease money factors do not vary by mileage allowance, but its residual values do. Its residuals for leases with only 12,000 miles per year are 1% higher than its residuals for 15,000 mile per year leases.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here you go, pfje. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2008 Nissan Altima 3.5 Coupe with an automatic transmission and 15,000 miles per year are .00259 and 66%, respectively. Using these numbers, an MSRP of $26,515, and a selling price of $26,000, I estimate that this car's zero down, pre-tax monthly payment should be around $467. As you can see, it is pretty expensive to lease this car for two years. The payment for an otherwise identical three year lease would drop to a more reasonable $423.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello footinthefire. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5 S with 12,000 miles per year are .00155 and 58%, respectively. The numbers for an otherwise identical lease of a 2007 Altima 3.5 SE are .00175 and 57%. Nissan is not currently providing any cash incentives on leases of this model.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi pjneder. One dollar over dealer invoice is a very good price for a lease of an '08 Altima Coupe right now. I would be happy to give you an idea of what this car's lease program is currently like, but it varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima 2.5 Coupe S with an automatic transmission and 15,000 miles per year are .00259 and 58%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Greetings jng657. You can look up this car's dealer invoice price in the New Vehicle Pricing section of Edmunds.com. If I was in the market for an '08 Altima Sedan in an area that has a decent level of competition right now, I personally would shoot for a selling price of around $500 over invoice.

    As far as its lease program goes, if you were to lease a 2008 Altima 2.5 S Sedan through NMAC right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00239 and 63%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jat12jat12 Posts: 10
    I recently got a quote from a LI dealer for a 2008 Nissan Altima with navi/technology package....

    I have a VPP and also a student so thats two discounts and this is my quote...
    3055 down
    253/mo
    12k per year
    24 month lease

    I feel like I am being ripped off.... Especially with such a high downpayment... This is my first time doing the negotiations and I need some serious help! I know negotiations can be made further because they said if i were to buy the car that night they would give me a better deal..... Is this a good deal though? What prices would you suggest me aiming to negotiate for? Is it possible to get the 07 with all these features? The salesperson told me 07 and 08 are priced exactly the same (which didnt make sense to me). I need help!
  • qbrozenqbrozen Posts: 17,278
    You are missing way too much info to get any accurate help. Coupe or sedan? 3.5? 2.5? auto? manual? what is the msrp? what is the cap cost? money factor? residual? fees?

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • jat12jat12 Posts: 10
    Sorry, obv you can tell I am new at this!
    4 door sedan-white/blonde
    3.5
    automatic

    14703.15 Residual Value
    MSRP = 25595
    Money Factor = .00214
  • jat12jat12 Posts: 10
    oops I mean 2.5
  • jat12jat12 Posts: 10
    Cap reduction $1462
    First pyment 253.32
    Bank Fee 595
    Taxes 744.91
    --------
    $3055.23
    This is the breakdown of the downpayment
  • qbrozenqbrozen Posts: 17,278
    ok, well, first off, that is not the MSRP. MSRP is the sticker price. A 3.5 SE auto sedan with tech package is $31,405.

    Now, if your equipment level is wrong and the MSRP is correct, the residual has GOT to be wrong. That is only 57%. That would be a 3-year residual, not 2-year.

    So, yeah, your quote is really really screwed up right now.

    OK... wait... just saw your edit. it is a 2.5

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • qbrozenqbrozen Posts: 17,278
    so, certainly, as I said, that residual just can't be right.

    A 2.5S with tech and convenience packages comes out to $25,355, so I'm just going with that for the hell of it.

    If I assume VPP and college is like invoice minus $500, that gives you an initial cap cost of ~$23k?

    A 2-year residual should be more in the low 60% range. Let's say 62%. That's about a $15,800 residual. leaving you with approximately $7200 to pay off. You are paying fees and taxes up front, so that should make it easy. You are paying $1400 cap cost reduction ... leaving you with $5800 to pay off over 24 months. That comes to $241.67 before interest. SOOOO... it seems to me they are pretty much on ... although that residual quote is wrong, I think the payments may be accurate.

    Unless subsidized (which the new '08s aren't), a 2-year lease is not cheap. If you think about it, you are paying off over 35% depreciation in 24 months. That's ~18% per year. On a 3-year lease, you are typically paying about 45%, reducing the per year payments to 15%. And its probably even farther apart then that (like 19% vs 14%). So if you want to see your payments drop, try a 3-year plan. Or even just 30 months.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • jat12jat12 Posts: 10
    wow, thanks. I am going to double check with the dealer about the residual, money factor and MSRP. The night I was there they said if i lease and sign that night they will work with me more on the downpayment. I think that is a clear indication that the price can move.... I have been reading posts and it seems like other ppl are gettting better deals. Would it be completely naive to think I might get a sign & drive for 300 a month?
  • qbrozenqbrozen Posts: 17,278
    maybe on a 3-year lease. But on a 2-year deal, that's another $3k to pay off in just 24 months. If they are already giving you VPP and college rebate, I don't think there is any room to move on the price.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • jat12jat12 Posts: 10
    They said it was taken off the invoice price... How do I know if they really applied it or not?
  • qbrozenqbrozen Posts: 17,278
    well, by the cap cost. that would be the "purchase price" before taxes and fees are added.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • jat12jat12 Posts: 10
    and the cap seems reasonable considering the discounts? I am sorry I ask so many questions I am SO new at this.
  • qbrozenqbrozen Posts: 17,278
    you never listed the cap cost.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • jat12jat12 Posts: 10
    That is different from the Cap reduction?
This discussion has been closed.