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Nissan Altima Lease Questions

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  • Hi. I am semi new to the world of car dealers and their games, and need some advice on leasing an Altima Coupe 3.5, with the technology and premium packages. Are people succesfully getting these cars at invoice? The MSRP at dealers in my area (NJ) seems to be around 32,000. For a 36 month 15K lease, where are people finding their monthly payments? Looking to ideally put just a first month payment down to walk out the door. Just looking for thoughts, as I am not sure what to expect and would like a ballpark range before I go hunting this month.

    Thanks
  • r5020r5020 Posts: 4
    I recently leased a 3.5 SE sedan in NY with both the premium and technology packages. The MSRP was around 32K. I didn't put anything down - my lease payment is $464.70/mo for a 39 mo/48,750 mi lease.
  • Does anyone know what the current residual and money factors are for both the sedan and coupe? 36, 39, 48 months. 12k miles. Car Man?? any help is appreciated. Thank you.
  • darshdarsh Posts: 1
    any one who can provide me with a vpp number ?
    I need it to lease one asap.
  • steevosteevo Posts: 331
    Forget the 48.. post the 24 mo. instead. Considering the probable residual(70??) 24 will likely be the best deal.
    48 and longer leases are almost always pointless.
  • popny85popny85 Posts: 15
    Hi guys, I'm semi-new on the site. Is it possible to lease an Altima Hybrid? If so, what are the residuals and money factor rates going on right now? Thanks
  • I'm looking at the 2.5S Coupe with the convenience package and a moonroof. Cloth interior. I was offered a 36 month lease @ $299/mo. out-the-door with 4K down. I have great credit as well. It seems like a decent deal...I'm in San Jose, CA. Can I get your opinions? I have an appt tomorrow and if all goes well I may drive off with one!

    Thanks! :)
  • I think that's a [non-permissible content removed] deal, man. What's the MSRP on the car? Isn't a 2.5S with convenience package around 23 grand? 300 is an insane amount to pay a month because of the 4k you are putting down. Am I wrong here? I think you could negotiate a way better deal.
  • Hey sprinkler13. Through February 4th, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Sedan 2.5 S with an automatic transmission and 12,000 miles per year are .00140 and 61%, respectively. The numbers for an otherwise identical 39 month lease are .00150 and 60%. Don't bother with a 48 month lease. Nissan is not providing support on 4 year leases of this model.

    NMAC's current numbers for a 36 month lease of a 2008 Nissan Altima Coupe 2.5 S with an automatic transmission are .00242 and 58%. The 39 month numbers are .00285 and 47%. The 48 month numbers are .00285 and 44%.

    As you can see, the Sedan's lease program is much more attractive (but in my opinion the Coupe is cooler ;) ).

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Welcome popny85. Yes, one can lease an Altima Hybrid through Nissan's captive finance company. This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so 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. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Altima Hybrid with 15,000 miles per year are .00249 and 55%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey Car Man, question for you...I'm not too well schooled on all the residual value/leas money factor stuff but I am very interested in leasing a hybrid. What am I looking at for the following needs:

    Lease term: 39 month

    Miles needed per year: 12,000 or 15,000

    Model: Hybrid, completely loaded, MSRP 32,000 I believe.

    Trade in value: 0

    Deposit: $3000

    I'd like to know both what I'd be paying a month and how much my monthly payment decreases with each additional $1000 (past the $3000) that I would put down.

    Thanks!

    brendan
  • ajpbf7ajpbf7 Posts: 67
    Hi Carman,

    Could you please provide the MF & Residual for 24 & 36 month term on the 2.5S Altima Sedan with CVT? Mileage would be 10 or 12K per year. Thank you.
  • ajpbf7ajpbf7 Posts: 67
    I see Nissan is offering consumer cash of $1000. Can this be applied to a lease or purchase only? Thanks again.
  • Hello - I am pretty close to locking a deal and could use some feedback. Let me know what you think....

    Details
    2008 - Altima 2.5S w/ SL Package
    (Includes other minor misc options - Emerg. roadside kit, wind deflector, etc.)
    Lease Term: 24 Months
    Total Out of Pocket Down: $2,423
    Monthly Payment (inc. tax): $254
    Mileage: 12k/annually

    This includes a single tire replacement and free oil changes for life of lease.

    Sound reasonable?
  • Save your down payment. Go with a higher monthly payment and keep your cash to offset the increase. If you total the car, your insurance company will only payoff the lease balance and you will lose your equity. For example: put $2,400 down and pay $254 per month. Total the car in month 12. You lose the entire $2,400. Put $0 down and pay $100 more or $354/month. Total the car in month 12. You lose only $1,200 and have $1,200 for your next car.
  • steevosteevo Posts: 331
    Sounds good. To know for sure, what is the MSRP, whats the Selling Price, or Capitalized cost of the vehicle?
    Whats the MF?
    Residual? I think its 70%
    Whats the breakdown of the up front, first, tax, other?
  • Steevo -

    It is like pulling teeth to get this information from these guys. I have the salesman working on it. From what I understand (and anyone can tell me if I am wrong) is that if you are going with NMAC (Nissan Finance) MF and Residual are pretty standard. Still want to know what they are though.

    Up front is Tax, Bank Fee, Motor Vehicle Fees, 1st Month Payment.

    I am working to get the exact numbers on everything to see what I am applying as a cap cost reduction. Will let you know once I have everything.
  • steevosteevo Posts: 331
    Your up fronts sound like there is also a payment to reduce the monthly. I only need the MSRP and the selling price to asses this deal.
    The Residual is 70% and the MF I think is .00140.
    There should be no teeth to pull to get the MSRP and Selling price of the car you are leasing......
    The payment seems low but there is probably a cap cost reduction you are paying up front...
  • Steevo -

    MSRP is $25,775
    Selling Price (Car w/options and destination fee) is $23,770

    For reference, Invoice is $23,975
  • steevosteevo Posts: 331
    Ok, I am not a dealer. But I have been shopping these cars and ran the numbers myself. It looks to me like they added 1000 to your upfront costs..Or the Tax is really in the upfront fees..Or both. So the 2400 up front has a large component that lowers the monthly.
    Still, the numbers are pretty good. You COULD get a few more hundred off the price if you shop it a bit, but if you like the deal you arent being ripped off. They are just moving the money around. You could have them put 1000 back into the monthly and still be under 300. Or easily get 15000 per year instead of 12000.
    Good Luck!
  • Hello, can anyone tell me what the Money Factor and Residual are for a 2008 Altima S with a term of 36 months? Thank you :D
  • The Hybrid gets a $2350 tax credit, but not if you lease.

    However, because I pay AMT, I am not eligible if I purchase.

    I have a negotiated cash price on a car, but am now thinking that maybe I should lease it instead and reduce the price by the credit (given that the leasing company gets it).

    Am I missing anything? Has anyone had luck doing this?
  • I'm new to the whole leasing thing but this is what I've been offered. Can anyone tell what they think of the deal I'm supposed to pick up the car today.
    2008 altima 2.5s standard model with the cvt transmission
    metallic jade
    39 month lease
    $300 down
    $658 back to me to pay off my other car
    gap insurance included
    1st payment included
    269 + tax a month
    I don't know the other numbers yet I did the deal last night but dealer said i couldn't take delivers or finish the paperwork till today because they were getting extra incentives starting friday feb 15th
    Please contact me I pick up the car at one and sign the paperwork
    thanks
  • Alsellit -
    It's difficult to tell if this is a good deal without the MSRP and Negotiated Price for your car. However, I made the following assumptions...
    MSRP = $21,775 (B2.5S, Dest. fee, Splash Guards, Emerg. Aid Pkg., Floor mats)
    Negotiated Price = 20,363 (Invoice price on the above)
    Money Factor = .0015
    Residual Value = 60%
    Added costs = $658 (old car payoff), $595 bank fee
    Tax Rate = 8.375%

    With all of that said... your payment should be $263.43 + 22.06 tax.

    So you are in the ballpark of a reasonable deal. However, any of the assumptions I had to make could throw the numbers off. If you have better info, I could give a better answer. With the add'l incentives they are getting on the 15th you might be able to negotiate a better deal, but I don't think you are getting totally screwed here or anything.
  • cnote2cnote2 Posts: 63
    Hi, can someone please post the altima 3.5 se mf and residuals for 36/39 month 12-15k?

    Thanks in advance.
  • I'm thinking about leasing an Altima Hybrid. Can someone please post the residual and MF for 36 and 39 month terms, 15k miles?

    Thanks.
  • Car Man
    I got these figures for a 2008 Altima 2.5SL. near Pittsburgh
    Sticker: 23,630
    Sale Price: 21,377 (300 below invoice)
    39 month lease
    Residual 59%
    Money Factor .00150
    No cash exchanged, No Trade
    Sign & Drive 280.00/mo plus 9% tax = 305.20
    Does this sound appropriate ??
    Question 2: What is a "Rent Charge" on the lease agreement
  • dstokl51,

    I have been in the car business for 6 years now.
    If you are buying the Altima for 300 below invoice, that is a good deal!
    I leased myself a 07 Altima 3.5SE manual for 39 months. The residual factor is right were it should be and the money factor is penuts. For 280/mo plus the tax of 9%, I think you should do it. You will love the car :)

    Another thing that you might want to do is ask the dealer what specials are running right now. Make sure you tell him to run it at the figures that you agreed on, but just changing it up to a 36mo or a 42mo might make a difference.

    As far as the "Rent Charge" goes, I have never heard of that. Some states might be different but make sure that you ask the dealer that question. Don't sign anything until you see the contract, and make sure to look at what you can buy the car for at the end of the lease. Take that number and subtract it from what the agreed price is (21,377) and calculate it. Some dealers are not that honest about those things.

    Hope this helped. :)
  • Another question I have regarding a lease - I'm tempted to trade in my '03 TrailBlazer, which would significantly lower my payment (worth about $8300 trade in according to kbb.com). The worry is if something happens to the new car (i.e. stolen or totalled), I lose that money. Any thoughts?

    Thanks.
  • kyfdxkyfdx Posts: 29,100
    Don't do it... Just have the dealer cut you a check for your trade.. Put it into a money market account and withdraw an equal amount each month... The difference will be negligible..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

This discussion has been closed.