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Nissan Altima Lease Questions

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  • Carman, do you have the current MF and residual percentage for the 08 Altima coupe SE with CVT and premium package with 12k/year for 39 months through NMAC ?
  • I went to a dealership today here in NY to trade in my 2005 accord coupe for a murano. I was informed that I had negative equity of $4,500 and wouldnt be able to get into one. So they offered me a lease on a 2008 Nissan Altima 2.5 S. and i wanted to see if I am getting a good deal before I sign anything.

    The Purchase Price of the Altima is $20,010.
    Down Payment: $1,494.64 includes Taxes, registration & first months payment
    39 month lease 12,000 miles a year
    Negative equity $4,500
    $437.64 a month.

    They told me if I didnt have the negative equity my payments would be $298. Does this seem like a fair price?

    Thanks
  • I'm currently in the market for a 2008 Nissan Altima 3.5SE with the Sports Package.

    Here's what I got from the dealership:
    MSRP: 26,640
    Money Factor: 0.00249
    Lease Term: 39
    Mileage: 15k per year
    Residual Value: 15,431

    $609.38 down at signing and $370.14 per month. (I have VPP so my base cop cost was $24,533.91 (based on what the deal said for C&D lvl)

    The main red flags I see is that it's a 39 month lease as opposed to a 36. I tried using the lease calculator but the only way I got to $370.64 a month was after I added a $595 Acquisition Fee to the "Costs Added to Lease" blank.

    The dealership I talked to said that my $24,533.91 should include everything fee wise but without the $595, I was getting $352.90 for my monthly payments.

    How can I prove that something shady happened? Are those the correct Residual Value and Money Factor for a 2008 Nissan Altima 3.5SE with Sports Package? Or was it just my math?

    Thanks very much for taking a look at this.
  • cnote2cnote2 Posts: 59
    I am looking into the 08 altima 3.5 SE but might opt for the 4cyl depending on my numbers. i just need the numbers for 36/39m and 12k. Can i have 07 and 08 numbers

    Thanks in advance
  • greanpea68greanpea68 Posts: 1,996
    They told me if I didnt have the negative equity my payments would be $298. Does this seem like a fair price?


    Yes if you are rolling in $4000 of Negative equity. Every $1000 is about $30 a moth on a lease. Which state do you live in?
  • greanpea68greanpea68 Posts: 1,996
    How can I prove that something shady happened? Are those the correct Residual Value and Money Factor for a 2008 Nissan Altima 3.5SE with Sports Package? Or was it just my math?


    When they use VPP you have to sign a VPP document which entitles you to the best rates that you qualify for. $595 for the ACC FEE is correct. You have to add that when you do a Lease. The reason for the Acc Fee is basically it includes GAP protection. Which protects you from liabilty if the car is stolen or totaled.

    The reason for the 39 months is that it is a better program from Nissan so you get a lower payment.
  • I live in NY state. And my negative equity was $4,700 not $4,500. I actually leased the car already, and so far I am very very HAPPY with it! Its an awesome car. :)
  • greanpea68greanpea68 Posts: 1,996
    I am very very HAPPY with it! Its an awesome car.

    Congratulations and enjoy the vehicle you got a great deal :)
  • pcantorepcantore South FloridaPosts: 39
    Sorry, but what is the VPP???

    Thanks!!
  • greanpea68greanpea68 Posts: 1,996
    what is the VPP???

    VPP stands for Vehicle Purchase Program.

    Companies that are vendors of Nissan can recieve VPP pricing set from Nissan. You have to be a vendor or someone who works for Nissan. If you have a relative that works for corporate Nissan they can get you VPP pricing also. Once you qualify for the VPP Nissan will assign you VPP# which you can use once. If you use it once and then change your mind you have to go through Nissan and get another number. There a couple differant plans depending on how much you have to do withh Nissan. It also qualifies you for discounted interest rates ussualy a half a point less. In other words if you qualify for 1.9% with VPP yoou get 1.4%...

    The person in the previous post was asking if the dealer was doing something scetchy. With VPpp a dealer can't do anything scetchy.
  • 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: 330
    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?
This discussion has been closed.