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Nissan Altima Lease Questions

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  • steevosteevo Posts: 331
  • aeropostelaeropostel Posts: 10
    Just picked up an Altima 2.5S with SL package, splash guards, at dealer cost - 23,675. Was going to put 2000 total down but they allowed me to take off 590 for my remaining 2 lease payments [that was their way of "paying off my lease"]. So total down 1410 included all fees and 1st mo. payment. 36 month lease - 12k/year - 297/month including all fees and taxes. Leased in NJ in April - not sure of all of the other leasing factors that go into it - wondering if someone can help me out in seeing if i got a just okay or great deal before I go back to the dealer for another car for my wife.

    Thought that since i was getting it at dealer cost that it was the best deal but was uncertain about the money factor / residual percentage fluctuations etc. So need help in determining just how good this deal was

    Thanks
  • skankinageskankinage Posts: 15
    Just negotiated this deal- wanted to see what others think of it. 2008 2.5 Altima SL package w/ Tech package and remote started installed by dealer. $340/month with nothing down except 1st month payment and DMV fees. How do you think I did?
  • skankinageskankinage Posts: 15
    Forgot to mention it was a 39 month lease with 12k miles a year.
  • jrosserjrosser Posts: 2
    I was just quoted for an Altima 2.5S:

    Residual: 58%
    MF: 0.00087 (about 3.2% not bad!)

    Looks like they are getting ready to load off the '08's. Test driving one tomorrow, never had a nissan and it's time to get rid of my old Blazer. Hopefully I like it, it seems to be just about the best Sedan deal around right now.
  • kyfdxkyfdx Posts: 28,475
    That's about 2.1% (even better!)

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • madhav2madhav2 Posts: 5
    got an offer for 413/mo for 36 months @ 15k a yr with 1000 down on the 3.5 se coupe with prem pkg...

    thinking about pulling the trigger....thoughts?
  • O.K.. just scored my new Altima. What a beautiful car!! Here's the deal I got.

    2008 3.5 SL
    Winter Frost w/ Blonde Leather
    Tech Package
    Spoiler
    Splash Guards

    36 Month Lease
    15k Mile
    $402 a month w/ No Money Down!

    I was able to get invoice on it ($30079) and MF was in deed .00087.

    Very happy with it thus far. Sweet ride!!
  • dade711dade711 Posts: 12
    I just leased a 2008 Altima Coupe 2.5 with Premium package, mats, and chrome door plates. MSRP was $27,840. I believe I paid $26700 which includes the $595 Acquisition fee, my first months payment, tags, doc fee, etc. The Money factor was .00240 (ouch) and the residual was 57%. I did a 39 month lease with 12,000/year miles or 1,000 miles per month. I was told that my monthly payment would go up $25 to do a 36 month lease so I stuck with the 39 even though I originally wanted 36. I am paying $415/month which includes TN state tax. The first payment of course is not due for another month. Without rolling in the acquisistion fee and first month the payment would have been around $398.

    Thanks! I feel a little weird about the deal but then again I don't think I did too horribly. That money factor is just very high but I got the exact car I wanted. It was the only of this color combination in our region. I got winter frost with the blonde leather.

    - Mike
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks Rick. You never mentioned the selling price or MSRP of the Altima that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I am sure that either myself or another knowledgeable community member would be happy to give you their opinion of this deal if you let us know what these numbers are.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks to you to, Will. $1,000 under dealer invoice is am amazing selling price for a leased 2008 Altima Sedan. the money factor that you were quoted is slightly high though. Nissan Motor Acceptance Corp.'s May buy rate for a 39 month lease of an '08 Altima Sedan 2.5 S is only .00097.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks flyinlynx. 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. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Hybrid with 15,000 miles per year are .00240 and 55%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new Altima, winterfrost08. Thanks for taking the time to share the details of your lease with us. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ngordonngordon Posts: 14
    I am looking to lease an 08 Altima S CVT with Convenience. The MSRP is about $22,900 and invoice appears to be about $21,900. I am interested in doing a 36 or 39 month lease with about $1000 down.

    Any current info on May money factor and what my payments should be would be most appreciated. An recommendations on dealers in Northern NJ also welcome.

    I would like to do it this weekend when my 05 Altima lease is up.

    Thanks :confuse:
  • hillscarhillscar Posts: 9
    Hi! I'm going to lease an altima coupe and I've been reading so much about not putting much $ down when leasing a new car- and it makes sense, but I have a car that I will be trading in- an '01 Jetta- how do I go about this when all of the dealers I've talked to expect me to use my trade-in as a down payment? I appreciate any help on this!
    Also, the dealer I went to offered to put a sunroof into the basic model rather than have me upgrade to the next model. Has anyone had this offered? The deal they were going to give me was 4000 for my trade-in and 250/month.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Mike. The money factor that you were charged is right in line with NMAC's buy rate for the 2008 Altima Coupe. So you did fine with this aspect of your deal. If you want this car, that's the price that you had to pay. As far as the selling price goes, I am not personally all that familiar with what the market is like for Altima Coupes right now, but you may be able to get an idea by hopping over to the "Nissan Altima Prices Paid & Buying Experience" discussion.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ngordon. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Sedan S CVT with 15,000 miles per year are .00087 and 55%, respectively. The numbers for an otherwise identical 39 month lease are .00097 and 54%. If you were to lease this car with only 12,000 miles per year, its residual values would be 1% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hillscar. While dealers can encourage you to use any equity that you have in your trade as a down payment for your lease, they cannot force you to do so. You are free to sell your Jetta privately, sell it to another dealership like CarMax, or have the dealer that you are leasing from cut you a check for it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ngordonngordon Posts: 14
    Thanks car_man. If I got it got the $21,900 invoice price minus the $1250 Nissan
    "help" how do I calculate a payment on a 36 month, 12k mile, $1000 down deal?

    Thanks again
  • milt7696milt7696 Posts: 12
    Been doing alot of research on the Altima recently and am seeing prices around invoice. Is it possible to use the $1250 Nissan incentive on a lease?
  • hillscarhillscar Posts: 9
    Thank you carman. Do you think its best that I have them cut me a check if I am going to trade-in? I'm really just not sure what a good deal is for a lease on this car. I get that you should be negotiating a lease on the sticker price, not monthly payments, but how much should I expect to pay by the end of a 3 year lease in total, including down payments if I make one?

    Thanks for this forum! It's great!
  • madhav2madhav2 Posts: 5
    got 1800 below invoice on a 3.5 Altima coupe before tax, tag and title. my advice if this is a good deal is use you internet and get multiple quotes
  • madhav2madhav2 Posts: 5
    I'm no car man, but you certainly should be negotiating on the sticker/invoice price. It is the basis for the lease calculations. Never pay sticker without a fight.
  • chemoychemoy Posts: 9
    First I must say I love this site and wish I knew what I know now when I leased my first car...I got an offer from a local dealer in Houston,TX on a 3.5 SE Altima...
    MSRP $32,885
    Selling price $29.838
    Residual 58%
    MF .00087
    39Months 15k.
    $369.64 Monthly payments
    0 DOWN only first month...
    The selling price might be off slightly but according to my sales guy Im getting this car for $500 over invoice and I was also adviced that their is no sales tax on this deal... I still think I could get this lower though cause when I use the calculator Im getting about $15 lower on the monthly payments... I WANT TO KNOW WHAT YOU GUYS THINK ABOUT THIS DEAL?
  • steevosteevo Posts: 331
    Thats a good deal.
  • shinngshinng Posts: 45
    Correct me if I'm wrong, but if the published rates are generally for tier 1 credit, how does one factor in tier 2, tier 3, etc for the money factor? Is there a rule of "add + XX%" for each tier above tier 1? I do not have tier 1 or tier 2 credit and want to make sure that when I get quotes from dealers, I am not getting hosed on the money factor just because I do not have tier 1. It's easy to compare tier 1 money factor rates as it's posted everywhere on the boards, but it seems impossible to find out the money factors for tier 2,3, etc.

    Any help is appreciated.
    Thanks.
  • veldevelde Posts: 17
    I'm comparing the Nissan Altima 4 cyl to the Toyota Camry 4cyl, both with navigational options and am shopping price. The Altima customer reviews seem mostly positive and I am leaning in that direction. I drove one yesterday and it was a really smooth ride. I'm wondering if anyone can tell me if the deal the salesman is giving me is a good deal.

    Altima 2.5SL (CVT with tech pkg- Navigational)
    39 months
    12K
    $359.00 inc. all taxes and fees

    He was lower than 2 other quotes I had for $369 and $371.
    I was planning on asking him today how much better he can do on the deal. I know very little about car negotiations, I don't want to insult him, but I don't want to get ripped off either.
  • skankinageskankinage Posts: 15
    Velde- I got basically the same car but did slightly better-
    2.5SL w/ Tech/Nav
    39 mos
    12k
    $347/nothing down
    I also got them to throw in a remote starter- can't live without it.
    Picking it up tonight.
  • veldevelde Posts: 17
    Wow! Thanks,
    I'm in Michigan, where did you find such a deal?
  • skankinageskankinage Posts: 15
    I'm on Long Island in NY. Can't wait to pick up the new ride, 3 hours to go! :shades:
This discussion has been closed.