Nissan Altima Lease Questions

zambo2013

I am trying to lease 2.5S base model for standard 39 months and 12000 miles. Dealer is not including the 1250 rebate in the price of the car. He say rebate is not available for lease. He is also making residual as 55% as opposed to 58% I see here on the board. Can someone please advice.

leasingcoupons

Residual is 55% for this model. Comes out to $230/month for 39/m and 12k miles. $o down just taxes, bank fees, registration and 1st month payment.
I can deliver this deal anywhere in NY, NJ, CT

You can have this deal for $189/month for 24/m 12k miles.

Can be cheaper if you qualify for loyalty ($500).

CarMan@Edmunds

Hi mtwow789. Nissan Motor Acceptance Corp.'s November buy rate lease money factor and residual value for a 39-month lease of a 2012 Altima Sedan 2.5S with 12,000 miles per year are .00021 and 55%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical lease of an Altima Sedan 2.5 SL would be exactly the same.

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CarMan@Edmunds

Hi zambo2013. The dealer was correct, the $1,250 cash incentive is not compatible with Nissan's special lease program. For the rest of the month, however there is a $500 bonus cash incentive that is compatible with the lease.

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zumicroom

are the money factor and residual for the 2012 altima 2.5s coupe still .00141 and 58%, respectively, as they were in october?

misslau

Hi Carman,

Can you please tell me what the Nov lease rates are on a 3.5 SR Altima Sedan with Premium and Sport packaging (39 months/12k miles)?

Thanks!

maizeandblue1

Car_man is spot on. I just leased a 2.5SL, $282.72 for 38 months, includes monthly tax, 15K miles, I am in Rochester NY. 7.5% tax rate.
Put down $1k, which covered first month, tax, title, registration, etc.
His numbers work to the penny and are the same as I was quoted by the dealer. Feel like I got a decent deal.
Someone let me no. I am not a good car guy.

jd00510

Car_man/all,

I'm looking at a Altima Coupe 2.5 S with conv/prem/leather packages, 12k mi/year, 39 mos.

The dealer is telling me 53% residual and 0.00090MF. Both seem low compared with the numbers you have provided for the last month.

Do you have any new data for December? Do you agree that these do not seem accurate?

Thanks,

jd

rman850r

Carman,

Do you have the money factor and residual for the 2012 Altima 2.5S and 3.5 SR sedan for 24 months and 15k miles per year?

Also any incentives available combinable with the lease program?

Thanks

CarMan@Edmunds

Hi zumicroom. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36-month lease of a 2012 Altima 2.5S Coupe with 15,000 miles per year are .00090 and 55%, respectively for consumers who qualify for its top credit tier.

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CarMan@Edmunds

Hi misslau. NMAC's current buy rate lease money factor and residual value for a 39-month lease of a 2012 Altima Sedan 3.5 SR with 12,000 miles per year are .00021 and 56%, respectively for consumers who qualify for its top credit tier.

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CarMan@Edmunds

Hi jd00510. The money factor that you were quoted is right on the money. Dealers do not have the authority to alter banks' published residual values.

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CarMan@Edmunds

Greetings rman850r. NMAC's December buy rate lease money factor and residual value for a 24-month lease of a 2012 Altima Sedan 2.5 S with 15,000 miles per year are .00003 and 65%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical lease of a 2012 Altima Sedan 3.5 SR are .00003 and 64%.

Nissan is currently providing a $500 cash incentive on leases of this car.

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otoluva

carman, I have negotiated a selling price of $18000 on a 12 Altima 2.5S with MSRP $24100, I'm having trouble using the lease calculator, can you please help me with a payment sample based on the following:
3 yr/36000k miles and 0 down.
Thank you

torotoro

Hello Car Man:

I am considering leasing an Altima 3.5S for 39 months/12K miles and want to know if I can expect the same money factor and residual values you provided recently ( .00021 and 56%) if I want to order a specific color combination. This would be without any packages or other options. Assume a top tier credit rating. Thanks.

torotoro

As a follow up to my post directly above: will a 10K mile as opposed to a 12k allowance alter any of the factors?

Again, I'm assuming that I would have to order the car because I haven't seen the configuration I want in any dealers inventory.

Thanks much.

cmyawn

Hello Car_man,

Can you tell me:

* What is the January 2012 residual percentage and money factor for a 21012 Altima Sedan, S w/ SL package, 3 years, 12,000 miles per year?

* Is there an up-front acquisition fee (looks like $595)?

* Is there a lease-end disposition fee (looks like $395 if you turn it in, or $300 if you buy it in most states)?

* What rebates/incentives are available for these leases (looks like maybe $825)?

These leasing fees are getting to be a pain...like airline or bank fees. But the money factors are great!

CarMan@Edmunds

I'd be happy to help you out, otoluva. According to my calculations, if you were to lease a 2012 Nissan Altima 2.5S Sedan that has an MSRP of $24,100 and a selling price of $18,000 through Nissan Motor Acceptance Corp. right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $145.

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CarMan@Edmunds

Hello torotoro. The color of your vehicle would not have any impact upon its lease program, assuming that its trim level is the same.

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CarMan@Edmunds

Hey torotoro. Dropping from 12,000 miles per year to 10,000 typically raises vehicles' residual values by 1%.

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CarMan@Edmunds

Here's the information that you're looking for cmyawn. Nissan Motor Acceptance Corp.'s January buy rate lease money factor and residual value for a 36-month lease of a 2012 Altima Sedan S with 12,000 miles per year are .00040 and 55%, respectively for consumers who qualify for its top credit tier.

Yes, NMAC does indeed charge an acquisition fee of $595 on every vehicle that it leases. You can either pay this charge at lease-ending or roll it into your car's capitalized cost to bake it into your monthly payment.

Many banks charge disposition fees as well, but I'm not sure about NMAC. The charges that you mentioned sound about right.

The cash incentive that is available on leases of this car varies by region. There is an $825 cash allowance on leases of it in certain parts of the country right now.

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torotoro

Thanks for the reply Car-Man.

My question was not specifically about the effect of the color, but rather if a car is ordered from the factory as opposed to being in inventory or located. I'm assuming I wouldn't be able to negotiate as good a price, but I wanted to know if the lease factors would be the same when the car is delivered.

Better yet could the lease costs be set when the car is ordered, or is it necessary to do so?

Thanks again.

cmyawn

I currently lease a 2009 Altima, which is due to be turned in on February 1. I just got off the phone w/ NMAC; the rep indicated that if I lease/finance a new Nissan or Infiniti thru NMAC, they will waive the $395 disposition fee I would normally owe on the 2009 Altima. Also, she stated that I have a 10-day grace period on the turn-in date, so even though I am supposed to turn my 2009 Altima in on 2/1/2012, I have until 2/11/2012. It might be good to see what the "Presidents Day" incentives are in February, and to see what the new money factors and residuals are. Though right now I am seeing a total of $1325 in rebates ($825 lease and $500 lease loyalty), along with great money factors and residuals (0.00003, 64% on 24 mo, 12K miles per year; 0.0004, 55% on 36 mo, 12K miles/year). So the deals look pretty good...but if I had been more patient in 2009, the Presidents Day incentives would have saved me another $1000. And the dealers are (without any negotiations) talking $2800 and more off MSRP, then subtracting the rebates. How much better should I shoot for? I am looking at a 2.5S w/ SL, all the packages except technology, including carpet mats, splash guards (MSRP $28680 including $760 dest/handling)...and I will have them add dealer-installed fog lights. The best dealer is at MSRP, $28850 (it also has the kickplates already added), sales price $26000, free fog lights added, then taking $1325 off in rebates for a total of $24675

Has anyone else experienced this waiver of disposition fee and the grace period for the turn-in?

Does the lease pricing I am seeing look good? How much should I push for?

CarMan@Edmunds

Ahhh, I see torotoro. The lease program would be the same for an ordered car or one being located at another dealer...as long as you take delivery before the end of the program period. Which in this case would be January 31st.

Some manufacturers allow consumers to lock in the lease program that was available when they ordered their vehicle, but I am not sure if Nissan is one of them.

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CarMan@Edmunds

I think that waiting would be a very good move, cmyawn. Nissan does usually run some sort of President's Day special. I wouldn't be surprised in the least if they put at least another $500 on top of the current offers out there on the Altima for President's Day weekend.

If I was in the market for an Altima right now, I personally would shoot for a selling price of fairly close to dealer invoice minus all of the available cash incentives. You can look up the invoice price of the exact car that you are interested in over in the New Vehicle Pricing section of Edmunds.com.

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cmyawn

Thanks Car_man. I am currently seeing 2 dealers $400-$500 under invoice before further reducing the price by $1325 for the two rebates ($825 lease, $500 loyalty). But that was for units on their lots, and I am about to throw a wrench into the process by requesting a specific color (Tuscan Sun, Blond Leather) with the technology package. I've found a couple of them within 500 miles, but I am going to let my local dealers try and find one for me, and see how their pricing looks for a vehicle not on their lot. I am not in a huge hurry.

rflang

Hi Carman! Could you please post the residuals and money factor for a 24 month lease on an Altima S sedan? I am looking at either 12k or 15/year. Thank you for all the information you provide!

torotoro

Maybe a dumb question but I want to make sure the price I offer is reasonable and that my calculations are as accurate as possible assuming I will have to recalculate my payment estimate or check the dealer's numbers at the dealership.

Let's assume that I want to offer 3% over invoice.

Should I deduct only the dealer hold-back or both the hold-back and any applicable incentives before adding the 3%?

Or, should the 3% be added to the invoice then apply the reductions?

Also, in the interest of being reasonable, should the destination and advertising fees be added to the result of any of above calculations when making an offer ?

Although the difference may not be very significant on a $23,000 car, I want to be sure to eliminate as much a confusion as possible when we get down to brass tacks. TIA!

dbwc

Hey Carman,
Could you please post the current residual and money factor for the lease of a 2012 Nissan Altima 2.5S with 15,000 miles per year?

Additionally, I can see from Edmunds that there is currently an $825 lease incentive on the car, but can anyone confirm the $500 loyalty rebate that is available? My company currently is leasing two Nissans, and our '09 Altima is up next month and I don't think we've seen anything from Nissan regarding a pull-ahead program or lease loyalty cash... Although today I did receive an e-mail from the dealer we leased our vehicles from that there is currently $500 Weekend Bonus Cash available. If all these hold true, is it possible that I can get $1,825 in rebates currently?
Thanks for your help!

cmyawn

I am due to pick up my 2012 Altima tomorrow, loaded 2.5S w/ SL, Tech, Conv, Conv+, Premium Audio, Spoiler, Splash Guards, Fog Lights, Floor/Trunk Mats, MSRP = 31,140. Black w/ blond leather. Sales price, $28,096 (quoted as $800 below invoice, and based upon truecar that appears true. $825 lease rebate, $500 loyalty rebate, $500 MLK weekend rebate all applied to take the total sales price to $26,271, based upon the paperwork emailed to me. Up-front costs are a total of $823.21, including doc, tags, first payment, and some taxes (dealer wants to charge $68 in taxes on the tags/doc fees and the incentives, does not seem right to me. NC tax, 3%). Payments are $275.17 plus $8.26 3% NC tax for a total of 283.43. 39 month lease, 12,000 miles per year. $595 acquisition fee rolled into the lease. I was going to lease for 36 months, but the dealer pointed out that going to 39 months saved about $14 a month, and that Nissan was offering early outs on their leases (they did offer that to me in September, for my 2009 Altima that I will turn in tomorrow). So I went for 39 months.

My 2009 was pretty loaded, but did not have tech, and I am lowering my payment by over $50 a month! The incentives and great money factors were far better than in 2009. AND by leasing another Nissan, NMAC will waive the $395 disposition fee on my 2009 Altima.

Wish me luck on the pick-up tomorrow.

cmyawn

dbwc, my dealer is giving me the full $1825 in rebates as you have summed up, and that was consistent over the 4 or 5 dealers I was negotiating with.

good luck!

dbwc

Thanks for letting me know about the rebates!! We will most likely go in this weekend to check out the Altima! Good luck with your new car, it looks like you got a great deal!

cmyawn

I picked up my new Altima on Friday. All was as promised. I spent about 75 minutes total in the dealership, to do the turn-in paperwork for my 2009 Altima, go over and sign the paperwork for my new 2012 Altima, transfer all my maps/tools/junk from my old car to the new one, and change/verify my insurance coverage. Probably would have been less than an hour if I were not so talkative. EVERYTHING was as the dealer promised. No attempts to up-sell me on maintenance, nitrogen in the tires, paint sealer, etc. They do sell a $995 package that includes oil changes for life and a $500 discount on your next car, among other things. If I lived closer (it is 180 miles to my home, I visited my mother-in-law as part of this trip) and was buying instead of leasing, I would have considered it. They knew I was from out of town and did not even attempt to up-sell it to me.

There were an added $68 in taxes paid up-front; I did some research and in NC, the state does tax the $1825 in incentives at 3%. In addition, it appears I got taxed on the $397.90 doc fee and the $73 license fee, for an up-tax of $14. But hey, I turned in a car with an empty tank of gas, and I got a brand new car w/ a full tank, so I did not complain.

All the dealers I was "close" with were between $800 and $1000 under invoice. Tried to get my dealer to $1000 under invoice, but he was solid at $800 under, so I accepted the deal. He had the car w/ the right options, but my wife's second choice on color.

Dealer was Michael Jordan Nissan in Durham, NC. I highly recommend them.

CarMan@Edmunds

I certainly can rflang. Nissan Motor Acceptance Corp.'s January buy rate lease money factor and residual value for a 24-month lease of a 2012 Altima Sedan S with 15,000 miles per year are .00003 and 63%, respectively for consumers who qualify for its top credit tier.

The residual value for a lease with only 12,000 miles per year is 1% higher.

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livintheoc

Hi All,

The forum has been so helpful over the years that I would like to share the details of the lease we got yesterday (January 16, 2012).

Vehicle : 2012 Nissan Altima 2.5 S with 20th Anniversary Package in Winter Frost/Charcoal Cloth and the following options:

Splash Guards
External Ground Lighting
Aluminum Kick Plates
Carpeted Floor Mats/Trunk
Emergency Aid Package

MSRP : $25105

Leasing Company : Nissan Motors
Lease Term: 24 months/12,000 a year
Total Price (Cap Cost) : $20958.14
Residual (64%) : $16067.20
Money Factor : .00003 (amazing rate)

Monthly Payment : $222.83 ($204.90 monthly payment plus 8.75% tax (LA County) - $17.93)

This was without any down payment, just the first month's payment and DMV fees (approximately $500) and Nissan Cash Rebate($1325 total - $825 Nissan Cash and $500 MLK Weekend Cash). The Nissan Cash Rebate paid for the acquisition fee of $595, Documentation fee of $45, and Sales Tax associated with using the rebate.

Based on the numbers, it was a good deal.

cmyawn

I have done some more research on the NC Department of Revenue website; in NC dealers are required to collect the 3% use tax on the doc fee and the tag and title fee. So the extra $14 I paid is required by the state.

Still loving the car and the deal.

CarMan@Edmunds

Hi torotoro. A selling price of 3% over dealer invoice would be 3% over the invoice price listed in the New Vehicle Pricing section of Edmunds.com including the destination charge minus any cash incentives that are available on leases (I am assuming that you want to lease because this is a discussion on the subject).

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CarMan@Edmunds

Hi torotoro. A selling price of 3% over dealer invoice would be 3% over the invoice price listed in the New Vehicle Pricing section of Edmunds.com including the destination charge minus any cash incentives that are available on leases (I am assuming that you want to lease because this is a discussion on the subject).

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CarMan@Edmunds

I certainly can dbwc. Nissan Motor Acceptance Corp.'s January buy rate lease money factor and residual value for a 36-month lease of a 2012 Altima 2.5S with 15,000 miles per year are .00040 and 54%, respectively for consumers who qualify for its top credit tier.

The $825 cash incentive on leases is only available in certain regions. There is a $500 loyalty cash incentive available on leases on top of that, but only to current Altima lessees, not all Nissan owners.

The weekend bonus cash was available on top of that.

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autoboy19

livintheoc,

Did any of that rebate go towards cap cost reduction?

I am trying to get a baseline for what the actual selling price of the car was before any adds or rebates (what the dealership is actually discounting the car to).

livintheoc

The gross cap cost prior to any discounts was $21536.00.

We used part of the Nissan Cash to reduce the net cap cost to $20958.14.

We also had the option to use the Nissan Cash ($1325) for the 1st month's payment, DMV fees, and upfront sales tax, and reduce the cap cost. The lease payment would have been $244.59 (base of $224.91 plus sales tax (LA County) of $19.68) for 23 months. This was basically the same deal but wanted the lower monthly payment.

justin84

According to leaseguide.com this is an excellent deal, but you tell me...
2012 Altima coupe 2.5 automatic, convenience, premium & leather packages.
MSRP 30,555
Selling Price $27,280
Bank fee $595
Cap cost reduction $500
Adj cap cost $29,244
Money Factor .00073
Residual $16,194
Due at signing $500
Payment (pre-tax) $367.79
39 month/15k year lease

anguilla

Hey Car Man: You've got a great site. I'm getting set to turn in my 2008 Altima Hybrid Lease. It's due February 22nd in the NY/NJ Metro area. Should I wait until President's day to re-lease another Altima or go for it now? I'd probably lease the 2.5 S with SL Package fully loaded with Convenience Plus, Premium Audio and Technology package. Also, when does Nissan typically change their buy-lease rates? Will I know the new once sooner than they come out? Thanks for your advice.

rflang

Hi Livintheoc,

Your Gross cap cost seems amazing, how did you get them down to that price before any rebates/bonus cash? I can get my dealers to go $500 below invoice, but yours seems to be $2000 below invoice. My understanding is that the $1,500 cannot be used on leases, correct? Is there dealer cash or something that I am unaware of?

Thanks much for your posts and sharing the details of your deal, it really helps!

mgkagan

Car_man,
Do you know what the Feb Money Factor / Residual is for 24, 36, 39 month on the Altima 2.5S Sedan with 12k miles / yr?

Thanks!

CarMan@Edmunds

Thanks anguilla. Waiting until President's Day is probably a good idea. While it's difficult to say for certain what Nissan will do, last year it provided additional bonus cash on a number of vehicles...including the Altima for President's Day.

Nissan typically publishes a new lease program every month. Sometimes they the program changes, sometimes it doesn't.

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CarMan@Edmunds

Here's the information that you're looking for mgkagan.

Nissan Motor Acceptance Corp.'s February buy rate lease money factor and residual value for a 24-month lease of a 2012 Altima 2.5S Sedan with 12,000 miles per year are .00003 and 64%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical 36-month lease are .00037 and 55%.

The 39-month numbers are .00037 and 54%.

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anguilla

I had also left you a KIA Optima question last week, but never heard back. Plz check if possible.

justfallup

What are the February money factor and residual value for an Altima 3.5 SR Sedan with 15,000 miles per year on a 36 or 39 month lease? Many Thanks!

livintheoc

Sorry for the late reply.

We used the car buying services provided through zag.com (it is a Truecar Co) so if you belong to USAA, Amex, BofA, and others (just pick one), you can use it to find their lowest prices based on options and your location. We compared the car pricing through other websites and theirs was the best and were able to use the Nissan cash on top of the awesome pricing.

The dealership honored their pricing and was even a $100 lower than what was quoted on the website. Good luck in your car buying adventure. We were able to find the car and got everything done the same day.