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Nissan Altima Lease Questions

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Comments

  • brott8brott8 Posts: 8
    Car Man,

    Wanted to get your input. I got the following quote (New York):
    2009 Altima 2.5S Sedan/Auto Transmission with Convenience Plus package
    39 month lease
    MSRP: 24695
    Residual: 61%
    MF: .00216
    Cap Cost: 21931
    Buyout price at end of loan: 14640

    300/mo , 1000 down out the door (includes TTL, acquisition, etc)

    Thanks for your help!
  • Hi Car_man, could you (or anyone of you helpful posters) tell me what the money factor and residual would be for a 2009 Altima 2.5 S w SL, convenience, and convenience plus pkgs. (MSRP: $26,035) with a 15,000 mi. 36 or 39 month lease?Thanks!
  • Hi doc519. It is difficult for me to tell you if the lease payment that you were quoted for this car is a good deal without knowing what its MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers, it is difficult to tell how much of a discount you are bring given. Let me know what they are and I'll tell you what I think.

    As far as your current lease goes, why should the dealer absorb the cost of getting you out of it early. One way or another you are going to have to pay to get out of a lease five months before its scheduled end date (unless a manufacturer is running a special early lease termination program...and I am not aware of any from Nissan right now). If the dealer says that they are paying your remaining payments for you, that just means that they are not giving you as large a discount on your new car as you would have normally been able to get.

    The $500 customer cash incentive that Nissan is providing on the 2009 Altima in October is not compatible with its special lease program. Neither is the new $500 additional bonus cash enhancement that Nissan just announced on the 22nd.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Any word on the incentives for November? I'd imagine they'd want to push their cars thru the current economy...
  • Hi brott8. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2009 Altima 2.5S with an automatic transmission and 12,000 miles per year are .00191 and 61%, respectively. This money factor would increase by .00015, to .00206, if you choose to have your car's security deposit waived. So the factor that you were quoted looks slightly high.

    As far as the selling price goes, the car that you are interested in probably has a spread of at least $1,500 between its full MSRP and its dealer invoice price. The $2,750 discount that you were quoted looks very good to me. If you'd like, you can hop on over to the "Nissan Altima Prices Paid & Buying Experience" discussion to see how much other community members have paid for similar cars lately. Just keep in mind that the cash incentives that Nissan is providing on this car are not compatible with its special lease program.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Greetings mouse. Nissan's October incentive program is scheduled to run through November 3rd. It is difficult to say what its November incentives will look like at this point. I can tell you though that Nissan recently (October 22nd) introduced an additional $500 bonus cash incentive on cars and an additional $1,000 on trucks that's good for the rest of October.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • brott8brott8 Posts: 8
    Thanks a bunch Car Man. I'll find out what happened with the MF as you stated. And I still feel like there's a little wiggle room in the negotiations.

    I'm currently looking into the Sentra as a possible cheaper alternative.
  • ajpbf7ajpbf7 Posts: 64
    If you are going to lease an 09, I would wait. The money factor will likley improve over the next couple of months. The 08 lease deal is pretty nice, but with the 09's already out; the value of the 08 will be less.
  • Hi,

    Is this an impossible deal?

    24/12k/ No money down/ Roll everything into payment/ Due at signing is first month and DMV fees, in NY

    For 307 a month?

    This is what the dealer quoted me then said he calculated it wrong and came back with 416 a month.

    Thanks
    Joe
  • I am interested in the 2008, moreso to save the money. This will be for my business, and I'm still deciding between lease and purchase. I'm meeting with my accountant to punch the numbers later this week, so I should be ready to buy/lease in early November. My guess is that there will be an equal or greater incentive on the 08's... can't go less given that it's almost 2009. Please correct me if I am wrong in assuming this. Thanks
  • ajpbf7ajpbf7 Posts: 64
    if it is for your business then I would pull the trigger on the 08. You will likley be able to write off a majority of the cost anyway. if you like to switch cars often liek i do, it would be easier to get out of an 09 vs. an 08. This is do to the higher depreciation of the 08's. Good luck on your lease.
  • Thanks for the tip. I have no intention of getting rid of the car early. If I get a lease, I will most likely ride it out, or if I purchase, I'll keep it until it is depreciated, and then transfer it to be a personal asset, and buy an upgrade :-).
  • ebettyebetty Posts: 12
    Hi Car_man
    Is this a good deal?

    36 MOS
    395 PLUS TAX (6.75%)
    $1000 TOTAL DUE
    33355 MSRP
    30657 SALE PRICE
    60% RESIDUAL
    .00191 MONEY FACTOR

    for
    2009 Altima Sedan 3.5 SL
    Technology Package
    Vehicle Dynamic Control

    $1000 down, 36 mo, 15k/

    Thanks! :)
  • doc519doc519 Posts: 3
    Hi Car_man,

    Sorry about not including all the info so here it is:
    2.5 S Altima with Convinience Plus Package in NY
    MSRP: 24695
    Invoice price: 23100 (this includes the 1000 that I have on my old altima lease)
    Residual: 62% (12k/year)
    Mf: .001910
    So the final quote was $280 for 36 months (or 270 for 39) with 500 down and all the rest paid upfront (tax,title, first month etc...)
  • You're very welcome, brott8. Good luck and make sure to stop back and let us know how everything turns out.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi ebetty. The selling price that you were quoted for this car is excellent. It appears to be right around dealer invoice. The money factor that you were quoted looks great as well. It is right in line with Nissan Motor Acceptance Corp.'s current buy rate for this model. If you like the car, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks for the additional information, doc519. When you listed the "invoice price" I assume that you actually meant "selling price." The car that you described has a spread of just under $1,500 between its full MSRP and its dealer invoice price. You were quoted a discount of a little over $1,500 on this car. This is a very good price, especially if it contains extra cash to get you out of your current lease.

    The money factor that you mentioned is right in line with Nissan Motor acceptance Corp.'s buy rate for this car. If you like it, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ebettyebetty Posts: 12
    thank you. I am still so undecided!! Still considering Camry, Altima and Accord and now added Saturn Aura to the mix... :blush: Spent all day driving cars and can't find the 'perfect car'.
  • Ended up signing. 2009 Altima 2.5S with Convenience Plus. I got them to a 36 month lease instead of the 39.

    287/month, 1000 down + 1st payment + DMV fees. 12K miles.

    I already signed, but just out of curiosity, what's the difference in MF and Residual with 36 vs 39 month for 12K mile?

    Thanks!
  • I just leased an Altima 2.5 S with SL package today. 36mo/12K per year. This was from Walser Nissan-a pretty well-known 'fixed price/no negotiation' dealership chain here in the Minneapolis/St. Paul area.

    Here is how the car is equipped:
    2009 Nissan Altima
    2.5 S 4dr Sedan (2.5L 4cyl CVT)
    MSRP / Invoice
    G01 SL Package $1,460 $1,327
    H01 Connection Package $1,240 $1,075
    F02 Convenience Plus Package $1,100 $954
    F01 Convenience Package $1,050 $911
    L92 Carpeted Floor/Trunk Mat Set (5-Piece) $175 $134
    B10 Splash Guards $135 $107
    Color Adjustment - - $0
    Super Black
    Destination Charge $695 $695
    Total with Options $27,395 $25,398

    Here is the deal:

    MSRP: 27,395
    Invoice: 25,398
    Selling price 25,395 (that's their first, only and final offer-no negotiation-and is $3 bucks under invoice. I tried to negotiate anyway but they politely declined-it's against company policy) However, I thought the offer was very fair, I just thought I'd give it a try on negotiation! LOL.

    Wrote the lease up as a 'sign and drive'. Paid absolutely zero today. Therefore, the following additional charges were included in the cap cost:

    First Monthly Payment: $378.94
    Title Fee $8.00
    Registration Fees (MN) $289.00
    Doc Fee $75.00
    Up-Front Sales Tax $821.39 (MN 6.5%)
    Acquisition Fee $595

    Total Gross Capitalized Cost is 27563.39

    Residual Value (36 mo/12K per year) $16,984.90 (62%)
    Money Factor .00191 (Tier 1)

    Total Depreciation and Amortized amounts $10,578.49
    Rent Charge $3063.65

    Monthly payment $378.94

    There is no disposition fee, but a $150 purchase option fee if I buy it out at lease end.

    I also went over to the Toyota Dealer owned by this same automotive group (same one price policies), and leased a 2009 Toyota Matrix S today. I will be posting those numbers in the Toyota lease forum as well.

    Yes, two new vehicles in one day! I am stepping down from two much more expensive vehicles, a 2005 BMW X5 and 2003 Infiniti G35. The X5 is at lease end and the G35 I had on a loan. Lowered my monthly out-of-pocket costs by 40% by doing this, which I believe is the right thing to do when staring into a very uncertain economy, although I have to admit, as nice as these new cars are, they just aren't quite in the same class of what I've left behind! But my budget thanks me.

    careyd
  • ebettyebetty Posts: 12
    36 MOS
    395 PLUS TAX (6.75%)
    $1000 TOTAL DUE
    33355 MSRP
    30657 SALE PRICE
    60% RESIDUAL
    .00191 MONEY FACTOR

    for
    2009 Altima Sedan 3.5 SL
    Technology Package
    Vehicle Dynamic Control

    $1000 down, 36 mo, 15k/


    Hi Car_man- can you advise on this?

    This is the new offer:
    same car/residual & money factor as above, but now:

    $650 down (which covers the 1st payment), 39 mo, 15k/yr- payment is $440/mo
    Plus, they pay me $2000 now to get out of my lease early (which will be about $1100) and if the promotions are better in Nov, I get those.

    Any gotchas? Looks good to me!
  • syrsyr Posts: 10
    Just signed my lease today.
    09 Altima 2.5S with the SL package, MSRP $26155, 36month/15k miles, $0 drive off, $325.00 a month :)
  • Syr, not enough info! Selling price, Equipment? State/Tax? Money Factor? Residual? Trade? Cap cost? etc.
  • ebettyebetty Posts: 12
    Does anyone know what the new lease incentives are for Nov on the Altima 3.5 SL? Dealer cash, money factors,etc
    Looking at 15k/yr, 36 or 39 mo

    Thanks!!
  • not a bad leese good luck nissans are grate cars you will love it have a verry good day and thankyou for reading Marco.
  • So, I'm looking to see if I should be kicking myself or not on my above Altima deal. Nissan should have announced the new November programs today.

    I heard from an unsure finance guy that he thought the Tier 1 money factor on Altimas was going to drop from .00191 to .00174, but that along with that you lose a point of residual, making it pretty much a wash vs. October rates.

    Can anyone confirm or deny these numbers? What about other rebates, etc. Any customer cash being thrown out, applicable to leases?

    Car_Man, I guess I'm looking to you on this one!
  • my lease on my current '07 2.5 SL Altima is up on dec 9th so now i have to move quick!
    im getting numbers on a new
    '09 Altima 2.5 SL
    with Connection Pkg
    (FYI:they took the dual temp. control away from the basic SL pkg!)
    im getting
    1st payment + tag
    39/12k 339+tax (6%)

    considering i got my '07 right when it came out im paying $352.90 for 24 with 2k down.. the rates weren't all that great when they first came out.. but i think the new deal is even higher? HELP PLEASE!!
  • Hi car_man and everyone else! I am new to leasing and I know there is a formula to calculating a lease payment, but I couldn't find it on the site so I was hoping someone could help me. I am looking for an Altima coupe 2.5S, CVT with convenience package. I spoke with a dealer who offered a 2008 with a selling price of $22,097. He quoted me $354 a month for 39 months/12k with $650 (1st payment, document fees, plates) out of pocket. This seems a little high to me, especially for a 2008. I would prefer a 2009 and a 36 month lease. Can anyone advise me on this? Also does anyone know how much more the convenience plus package is? I'm in Ohio (in case that makes a difference).
    Thx in advance!
  • ebettyebetty Posts: 12
    Got the deal I posted above, plus they sweetened it to $429/mo.

    Thanks everyone!
  • You're very welcome, ebetty.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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