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Nissan Altima Lease Questions

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  • pcantorepcantore South FloridaPosts: 39
    Thanks for clarifying it, greanpea68!
  • I was at a dealership today and was quoted on a 2008 Nissan Altima Sedan 2.5 SL. Love the car, even borrowed it for 24 hours to make sure. Had to drop the name of some other dealerships doing so, but it worked. Anyway, their quote seems awfully high and upon doing the math, it all seems to be stemming from the money factor.

    There is no negotiating on cap cost as I have the VPP discount for the 'D' plan. The cap cost is great, but their money factor is .00374. Am I the only one here who thinks that it's quite high? Is this negotiable? If I threaten to walk, will they work on it? Thanks a lot!

    -Jay
  • greanpea68greanpea68 Posts: 1,996
    There is no negotiating on cap cost as I have the VPP discount for the 'D' plan. The cap cost is great, but their money factor is .00374. Am I the only one here who thinks that it's quite high? Is this negotiable? If I threaten to walk, will they work on it? Thanks a lot!

    Once again whne consumers use VPP through Nissan it is set by the manufacturer. The dealer can not change what you qualify for. As long as you signing a VPP form and not just taking a dealer's word for it than you will be OK.

    On the VPP form you will initial in two places on one page and sign one spot on another page. There will be 4 pages total.
  • I need some help with this decision. I currently have a lease that matures in February 2008, I have only three payments left 360 x 3. The problem is I'm currently over the miles by about 4000 so I want to return this car as soon as possible. I was told by my local Nissan dealership that, they would have to role in my remaining three payments with the new lease and that Nissan would most probably send a bill for the excess mileage. Although it seems to be a fair deal I think I could do better plus I think I'm being taxed on the remaining payments.These are the numbers I was given. Is this a good deal guys?

    2008 Nissan Altima 3.5 SE fully loaded
    MSRP $32,885
    Invoice$29,457
    Selling Price $29,957
    Residual 59%
    Miles 15k per year
    Term 36months
    Money Factor .00239
    Balance on my Current Lease $1080 Rolled in to new lease
    Monthly payments $459 x 36 + 8.625 tax long island NY
    Upfront cost $595 Bank fee + $1426 tax +$120 dmv + First month $459.
    Drive off cost $2600
    **$30 was added to the monthly payment to cover for the balance on current lease.
  • greanpea68greanpea68 Posts: 1,996
    2008 Nissan Altima 3.5 SE fully loaded
    MSRP $32,885
    Invoice$29,457
    Selling Price $29,957
    Residual 59%
    Miles 15k per year
    Term 36months
    Money Factor .00239
    Balance on my Current Lease $1080 Rolled in to new lease
    Monthly payments $459 x 36 + 8.625 tax long island NY
    Upfront cost $595 Bank fee + $1426 tax +$120 dmv + First month $459.
    Drive off cost $2600
    **$30 was added to the monthly payment to cover for the balance on current lease.


    You have a good deal. Your numbers are right and so are the dealerships. Think about it if you were financing the same vehicle you would be about $600/mo. If you are comfortable with the payments do the deal the numbers are right.

    GP
  • Hi there. Live in Los Angeles, so sales tax is 8.25%. I am looking for residual and MF for both 2007 and 2008 Altima 3.5 SEs. I'd like a 36mo lease, but if there is a much lower MF or a special, i'd take 39 mo.

    Here is 2008
    MSRP - 30305
    Invoice - 27830
    Price paid - 28400?
    Cap reduction - 0 or 2000 (my trade-in is worth about 2000, but i've heard its not a good idea to put any money down if possible?) I have a lease calculator, so once I know resid and MF, I can play with the payments.

    2007
    MSRP - 30560
    Invoice - 28036
    Price paid - 28400?

    Would much appreciate the Residual and MF for the 07 and 08 3.5 SE. Also, I have perfect credit to get the lowest MF possible. Thanks much...new to the board and love it!
  • Based on the numbers I got yesterday. When using the lease calculator I'm coming up with $428.66 a month, with tax payments should be around $465.63.
  • steevosteevo Posts: 332
    How much is your current vehicle "worth" versus the current buyout number? You should be able to make the deal and have them take your car in trade WITHOUT making the final 3 payments. They will be buying the car from the Lease bank in this scenario.
    No way I would be rolling in with only 3 payments left.
    Also, Cars Direct is selling this car for Invoice in our area. So you should be able to get it a bit below.
  • The buyout is $23,421.61.what they are willing to pay for the car is under twenty thousand. Most of the dealerships I went to said they would waive the remaining payments, but their quotes were awfully high. This is actually the best offer I had so far. I think they assume your desperate when you want to get out of your lease early. (By the way I have a fully loaded 2006 maxima).
  • jaxs1jaxs1 Posts: 2,697
    What are the money factors and residuals for 2 and 3 years with 15K miles per year?

    What fees does Nissan charge for deposits, acquisition fees, disposition fees and mileage overages?
  • jaxs1jaxs1 Posts: 2,697
    Is there any cheap extended warranty package available to cover mileage up to 45K miles (9,000 miles past the 36,000 mile bumper to bumper warranty) on a 3 year 45K mile lease?
  • steevosteevo Posts: 332
    I am surprised you havent been offered an early termination. One dealer I shopped told me to expect it with around 3-4 months left. I am currently driving a 2005 Maxima with 5 months left on the lease.
    My Maxima is a loaded SE with factory XM radio etc. Current Buyout from NMAC is already less than 19000. Maybe I have equity!.
    I have been very loosely shopping for a few months now. Seems to me that if you are looking for a better "value" lease, the Murano SL will lease better than the new Altima. The Money Factors are super low, plus there is a much greater differential between the MSRP and the actual selling prices which are easily in the Invoice + or - 500 range right now.
    I lease a lot of cars and typically unload them when they have 2 to 3 months left. In my experience, if you want to turn in early without playing the negative equity game, you are better off leasing a Competing brand. The competition has more incentive to buyout your lease to get you into one of their cars because they know that if they lose the sale eventually you will be back at a NIssan dealer to turn in your car and will end up with another Nissan. Same logic behind Nissan usually offering early termination.....that prevents you from shopping other brands and just turning the car in.
  • The competition has more incentive to buyout your lease to get you into one of their cars because they know that if they lose the sale eventually you will be back at a NIssan dealer to turn in your car and will end up with another Nissan.

    I'm thinking the other way around (at least w/ my purchase). I got a much better deal on my '05 Altima trade in value from a Nissan dealer than a Honda dealer.
  • I checked out the camry and accord. The SE V6 camry is pretty quick and looks sporty. The accord coupe V6 looks kool as well, but I found the altima to be more technologically advanced, keyless entry,push to start,back up camera not to mention touch screen nav.
  • Hello trazak. Through December 3rd, Nissan's buy rate lease money factor and residual value for a 39 month lease of a 2008 Nissan Altima Coupe SE CVT with 12,000 miles per year are .00259 and 55%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here you go, cnote2. Through December 3rd, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Sedan SE with an automatic transmission and 12,000 miles per year are .00239 and 60%, respectively. The numbers for an otherwise identical 39 month lease are .00249 and 59%.

    NMAC's buy rate lease money factor and residual value for a 36 month lease of a 2007 Altima SE with 12,000 miles per year are .00175 and 56%. The numbers for an otherwise identical 39 month lease are .00205 and 55%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Jay . The money factor that you were quoted is way out of whack. If your credit is in good shape, you should be paying more like .00249 (through 12/3). Make sure that the dealer you are working with uses this factor to calculate your car's monthly payment. If they won't take your business to a different dealership that will be more straightforward with you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Welcome z28_2000. Through December 3rd, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Sedan 3.5 SE with an automatic transmission and 12,000 miles per year are .00239 and 60%, respectively. The numbers for an otherwise identical lease of a 2007 model are .00175 and 56%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here's the info that you're looking for, jaxs1. Through December 3rd, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 24 month lease of a 2008 Altima Sedan 3.5 SL with 15,000 miles per year are .00239 and 68%, respectively. The numbers for an otherwise identical 36 month lease are .00239 and 59%. At lease signing you will have to pay your car's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, NMAC's $595 acquisition fee, and any required state taxes or fees that you don't roll into your car's capitalized cost.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man,

    Your recent posts give NMAC rates through Dec 3 but since that has passed, I am curious what the new ones are. I would be looking at an 08 Altima 2.5 or a 2.5S with 12,000 miles for a 24, 36, or 39 month lease. What would the money factor and residuals be for those scenarios? Is it still possible to lease an 07 if they are in stock? If so, could you post those numbers for the same scenarios?

    (Please also see my post regarding the Dodge Nitro lease rates in the Dodge Caliber or Jeep Liberty forums...). I am looking to get a new car asap so a quick response would be MUCH appreciated. Thanks so much - you rock!
  • greanpea68greanpea68 Posts: 1,996
    Your recent posts give NMAC rates through Dec 3 but since that has passed, I am curious what the new ones are. I would be looking at an 08 Altima 2.5 or a 2.5S with 12,000 miles for a 24, 36, or 39 month lease.

    First off you won't get a better deal on a 2007 because it is a year older and the residual value will be higher.

    National add for Nissan on the 2008 2.5S Altima sedan ... autow/ splash and matts

    $2,999 down $239/mo for 36 months plus t,t,l.... :)

    GP
  • brockpbrockp Posts: 11
    Anyone have the current MF for a 2.5 SL 36 month lease at both 10k and 12k miles annually?

    Thanks.
  • Went to dealerships in South Florida, checked out a Nissan 2.5 with the SL package. I've been provided with a quotation from the dealership (on a 'per month' basis), but I haven't yet received details on what numbers the dealership used to arrive at the monthly cost. Here's what I know

    2008 Altima with SL package
    15,000 miles per year
    Zero dollars down
    For 39 months: $351 per month + tax
    For 36 months: $363 per month + tax

    I did my own calcs assuming a MF of 0.001 and residual ranging from 0.6 to 0.54 (I assume the residual based on 15K per year will be around 0.55 or so), and the invoice based on this particular package and the KBB invoice value of $23,500 and came up with about 360-370 per month (including 6.5 pct tax...this equates to 337 to 350 per month before tax).

    Car_Man: Please take a look at these numbers and tell me if they seem reasonable based on what you know.
  • Greetings:

    I recieved the following offer today:
    Altima Coupe 3.5SE (Fully Loaded)
    36 months 12000, miles per year
    MSRP: $ 32250
    Selling Price: I am not sure, guessing less than $32250
    Total Out the Door/Drive Off fees: $1500 + First Month payment $ 410 ($1910)
    Monthly payment: $ 410

    CarMan and others, please let me know if these number are good. Thank you.
  • I received an offer on a 2008 altima 2.5s coupe. 39 month lease with 12,000 miles per year. $0 down, no security deposit, sales tax paid for by nissan. The monthly payment is $379/month. The only thing due up front is the first months payment. Is this a good deal?
  • Got an Altima today - overall, it was an excellent experience. Coral Springs Nissan, sales person was Gary Sang. This was my first ever car lease (never purchased before, either) and the experience exceeded all of my expectations. Here are the details of the deal I got:

    2008 Altima 2.5 with SL package
    Got tinted windows thrown in for free
    36 month term, 15,000 miles per year, $0.15 per mile overage
    Capital Cost: 24,400
    Acquisition and doc fee: 1,190 total (each was about 595)
    Net capital cost: $25,600
    MF = 0.00175 (I qualified for Tier 1 credit...if I didn't MF would have been 0.00184 or higher)
    Residual = 60%
    No money down
    OTD price: $373 (first month's payment plus tax)
    Monthly payment: $351 + 6.5 percent sales tax

    If you're in South Florida I would highly recommend this dealership. Did the entire negotiation via e-mail, and there were zero surprises when I got to the dealership - spent about 1 hour total there to inspect the car, get credit checked, and sign the papers.
  • Hey all...I'm looking to lease a 2008 Nissan Altima. There is a national "Year End Sales Event" campaign going on for a 2.5S, $199/month with $2,999 down. My car just kind of crapped out on me so I need to get a new one quicker than I thought, and I don't have a ton of time. Is this a good deal? If I wanted to put less down how would that affect the monthly, or is it even possible? In other words would putting less down void the deal they're offering? And similarly if I wanted a few upgrades could I work off of that deal as a starting point? Do I even *want* to? What's the current money factor on this car?

    I'm confused out here in Chicago...help!!!
  • jakegoodman,

    I went to mid city Nissan - traded in my 2001 toyota corolla with 71K (base model no options) - gave me $3000 for trade in, put $500 down including first month payment, and got lease for $230/mo x 36months for 2008 Altima 2.5 S with tech/ convenience package. Got them to throw in first oil change, clear coat paint protection every 6 months x duration of lease.

    I'm not sure if this is a great deal - can others comment?
  • Can anyone post the numbers for a 2008 Altima Coupe 3.5 with Premium Package? Looking for 24, 36, and 39 month numbers for both 12k and 15k miles per year. Thank you.

    Dan
  • sorry no tech package - just convenience package.

    I went to mid city Nissan - traded in my 2001 toyota corolla with 71K (base model no options) - gave me $3000 for trade in, put $500 down including first month payment, and got lease for $230/mo x 36months for 2008 Altima 2.5 S with convenience package. Got them to throw in first oil change, clear coat paint protection every 6 months x duration of lease.

    I'm not sure if this is a great deal - can others comment?
This discussion has been closed.