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Nissan Altima Lease Questions

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  • Congratulations on getting your new car, brott8. NMAC's 36 and 39 month money factors for it are exactly the same, but the 39 month residual value is 1% lower.

    Car_man
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  • Congratulations on getting your new rides, careyd. Even if they are a step down, getting a new vehicle is always exciting...at least for me. Thanks for taking the time to post such a detailed description of your deal. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well. Enjoy your new ride :shades: .

    Car_man
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  • Hi ebetty. This looks like a good deal to me. You negotiated a solid discount and the dealer used NMAC's buy rate lease money factor to calculate your monthly payment. Enjoy your new car!

    Car_man
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  • Hi again ebetty. Oh, I thought that you had already pulled the trigger on your new Altima. I guess not. Here's the latest info for you. Nissan Motor Acceptance Corp.'s November buy rate lease money factor and residual value for a 36 month lease of a 2009 Nissan Altima 3.5 SL Sedan with 15,000 miles per year are .00174 and 60%, respectively. The number factor is the same for an otherwise identical 39 month lease, but the residual value is 59%.

    Nissan is not providing any customer or dealer cash incentives on the '09 Altima this month, but it is running a stair-step program that provides dealers with a special cash allowance that escalates as they sell more units. This will only amount to a couple hundred dollars, but it might motivate dealers to take thinner deals than they normally would to hit their objectives.

    Car_man
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  • What you heard is correct, careyd1. The Altima's money factors are better, but its residual values are slightly worse in November, making things basically a wash. You are actually better off if you finalized your deal at the end of November. Nissan was running a special $500 bonus cash incentive on the '09 Altima then that has since expired.

    Car_man
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  • Hi michelle86. The best way to tell if you are getting a good deal on a lease is to look at the selling price that you are being charged in relation to either its full MSRP or its dealer invoice price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what this number it, it is difficult to tell how much room there is to negotiate. If you share this information with us, I am sure that either myself or another helpful community member will be happy to give you their opinion on this deal.

    Car_man
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  • ebettyebetty Posts: 12
    Hi Car_Man
    I did pull the trigger last week. This is what I got:

    2009 3.5 SL with VDC and Tech pkg, 39 months, 15/k yr
    $650 down which includes the 1st payment, $429/mo

    $2000 back from the dealer in the form of a check. Apparently they are losing about $300 on the deal, or so they say. They did mention giving the stairstep to me.

    Thanks
  • Thanks Car_Man. There is definitely an excitement that comes with getting a new car, no matter what it is. I am really enjoying both the Altima and the Matrix. Also enjoying the better gas mileage in the Altima vs. my previous X5. I'm not quite getting EPA ratings just yet but the car only has about 150 miles on it! As the engine breaks in I actually expect my highway mileage to exceed the 31MPG EPA rating, as is the case with several Altima owners I know.

    They each reported a bump in fuel economy at about the 2000 mile point as the engine broke in, but then another 2-3MPG boost in fuel economy at about the 10,000 mile point that took it over the top!
  • Thanks again Car_Man. I did indeed finalize my deal on both cars on the last day of October. Just one point on the $500 cash incentive that they had in October...that was not available to lease buyers, from all points I investigated.

    From a purely financing point of view, Toyota had better deals in October (and, I think, still now in Nov.), and I did indeed look at Camry. However, both my wife and I just liked the Altima a little better. It had a certain little extra 'youthful-ness' to it's design. She thought the Camry seemed really 'middle-aged'.

    Perhaps it's us trying to hang on to some little edge as we're now 41 and 39, with two little kids...I guess we ARE middle-aged! LOL! This, of course, was just a personal thing and shouldn't reflect on anyone else's decision-making.
  • Hi shamme. The following articles that are available here at Edmunds.com contain all of the information that you will need to get a good deal on the vehicle that you want to lease: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Check them out and let me know if you have any specific questions.

    Car_man
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  • Congratulations on your new car, ebetty. It sounds like you drove a hard bargain. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of the Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: !

    Car_man
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  • Hi Car Man,

    Can you post the November MF and residual rates for the 2.5S 4 DR Altima, 36 and 39 month, for 12K and 15K miles? Also, can a "cash to customer" rebate be used to bring down the Capitalized Cost? Edmunds states their is currently a $750 rebate. Does the dealer keep this rebate on a lease?

    Thanks!
  • Here you go, riskiad. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima 2.5S Sedan with an automatic transmission and 15,000 miles per year are .00174 and 60%, respectively. The numbers for an otherwise identical 39 month lease are .00174 and 59%. If you were to lease with only 12,000 miles per year, this car's residual values would be 1% higher.

    Unfortunately, the $750 customer cash that is available on '09 Altima Sedans right now is not compatible with the above special lease program.

    Car_man
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  • Hi Car Man,

    I finally got around to writing up a dealer review for both Walser Nissan and Walser Toyota and posted them in the dealer ratings and reviews section. Thanks again for all your help!

    careyd
  • Car_Man,

    Can you tell me if this deal is good or if I should push for a lower price? Do I have room to bring down the down payment?

    Altima 4Dr 2.5 w/ SL, Connection, Convenience, and Convenience Plus package.
    MSRP $27,350
    Sale Price $25,995 (Invoice + 595 dealer fee)
    Residual $16,653 (61%)
    MF .00174
    12K Miles
    36 Months

    $1250 out of pocket/down payment (includes 1st monthly payment)

    $354/month

    Thanks!
  • Hi riskiad, is the $595 dealer fee in lieu of an acquisition fee on the lease? if so, that's a great deal, and not that different from my deal posted a page or two back. (purchased 10-31-08 when both money factors and residuals were higher).

    If it is not in lieu of an acquisition fee I submit that they can afford-especially in this economy-to sell the car at invoice. They still make 2% holdback at a minimum, plus any subsidies Nissan may decide to send their way.

    My deal was for $3 under invoice.

    FWIW,
    CareyD
  • Careyd1,

    Unfortunately the dealer fee was in addition to the acquisition fee. I've been to 3 different dealers and can't get them to sell the car at invoice. Any suggestions on how best to do this?

    Thanks!
  • Hrm. Nope. You can't force them to sell you anything at any price.

    If you have a valid quote from somewhere else that's cheaper as leverage that was lower it might help. My deal came via a one-price dealer and that was their offer, so I pretty much had to take it or leave it. From the sound of it, your dealer is pretty firm. Perhaps the best leverage is to get numbers on a Camry, the Altima's #1 competitor in the class. Use that as leverage against the Altima? Toyota is running very favorable lease rates right now (better than Nissan), so it's worth a shot as leverage. If you look over my posts you'll see we considered Camry as well but liked the Altima better. Nevertheless it's perhaps a leverage thing.

    Frankly though, I'm shocked that in this terrible sales climate they all wouldn't be hungry enough to move on it. I bet you get to the end of the month and you'll have more leverage (then they get worried about their unit counts).

    All I can say beyond that is 'Good Luck!'.

    BTW saving $595, all other things being equal, should lower your payment roughly $18. (based on the $30 per thousand rule of thumb).

    CareyD
  • Car Man,

    Is there a difference in these #'s from the 2.5S and the 2.5 SL? I haven't been to a dealership yet to get #'s but wanted to know what to look for in their initial offers. Here's what I'm expecting based on what I've seen in this thread:

    36 months
    15k miles
    .00174 money factor
    60% residual

    36 months
    12k miles
    .00174 money factor
    61% residual

    Is that information accurate through EOM?
  • Hi! Can I get some information on buying an Altima rather than Leasing. The other forum did not have much activity, so I wanted to try here. I was given an invoice price as 22,000 for a 2.5 Altima S with Conv. package.

    After a trade-in (2500), including tax and a little bit of negotiation, I have it down to 20,800 total. I don't know much about dealer holdback or incentives.

    Is this a good deal or do I need to try harder. I live near West Chester, PA (outside Philly). Thanks.
  • Hi! I currently have an 06 Altima for which the lease will be ending soon and there are a few things I am wondering about the end of lease inspection. First, will the inspector want to look at anything other than the car, like service records? I recently moved and am having trouble finding some invoices for oil changes. Also, I was recently rear-ended and my car received substantial damage to a quarter pannel, which needed to be cut out and replaced. If repaired properly will this have any affect when turn in time comes? Thanks!
  • Fantastic careyd. Thanks for taking the time to write the review :) .

    Car_man
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  • Hi mctrees02. The lease program for both of these trim levels are the same. The money factor and residual values that you mentioned in your post are correct and they're good through 1/5/09.

    Car_man
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  • Hi rajatarora. Nissan is currently providing a $750 customer cash incentive on the 2009 Altima Sedan. If I was in the market for this car right now, I personally would shoot for a selling price of $750 under invoice (after taking the cash into account). If you have a trade-in that you are being given $2,500 for, subtract it from that.

    Car_man
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  • Hi dougy147. I wouldn't worry too much about the oil change invoices. I have leased many, many cars and I've never been asked for them. As far as the accident goes, as long as your vehicle was repaired properly it should not be an issue either.

    Car_man
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  • Hi Car_Man,

    Do you have the December lease rates for the 4 door 2009 Altima's, 2.5SL and 3.5SL, for 36 and 39 months?

    Many Thanks!
  • I got an email blast from a Nissan dealer here in the MSP area with the copy (below) that suggests there may be additional new incentives from Nissan?

    Car_Man, care to elaborate?
    --------------------------------
    email blast copy below
    --------------------------------
    $229 / month Sign and Drive
    Lease on 2009 Nissan Altima 2.5S

    This is a true no money down lease. Just sign and drive. Recent increases in incentives from Nissan USA have allowed us to make this great lease offer.
    Lease Details: 39 month lease. 12,000 miles per year. $0 security deposit. No other fees due at inception. $229 payment does not include applicable sales tax. Offer valid through 12-31-2008. may not be combined with any other coupons or offers. Offer based on approved credit.

    --------------------------------

    careyd
  • The Nissan webite says that a new "holiday" $750 rebate is available till years end and can be applied to a lease. I'm interested to see if the MF and Residual rates are untouched.
  • Can you tell me where to find details about this holiday-specific promotion? thx
This discussion has been closed.