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Nissan Altima Lease Questions

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  • leochengleocheng Posts: 3
    I live at Houston. I am going to lease a Altima coupe 2.5S with basic options. I think the MSRP will be around 23-24K. My choice will be

    10K-12K miles per year
    0 down pay
    36-39 months lease term

    Anyone has just lease this vehicle? Could you share the experience and the final monthly payment?

    Thanks
  • chris001chris001 Posts: 5
    well i finally got my dream car (07 infiniti g35) , but at a great expense, after getting
    my 06 altima SE-R inspected was told the bill would be around 1500.00, knowing i was getting the g by the weekend the inspector advised me to make some repairs and have the car re-inspected at the dealer i made the repairs and turned the car in ,now its 2 weeks later
    and i find out the dealer cancelled the re-inspection ! I cant get an answer as to why it happened(they wont return my calls) , as if that wasnt enough the bill from nissan already came and its 2300.00 ! it seems the dealer only paid 1 of my last 3 remaning payments , plus i was told by NMAC that since i am buying a pre owned infiniti from a nissan dealer i am entitled to 500 dollars customer loyalty this and the repairs should lower the bill by at least 1000.00 . i am calling the general mgr of the dealer tomorrow , i am not optimistic of the outcome what recourse do i have ? i want to pay nissan but not what they are asking!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey stunner. The '09 Altima that you described probably has a spread of around $2,350 between its full MSRP and its dealer invoice price. Nissan is not currently providing any cash incentives on leases of this car. The selling price that you were quoted looks outstanding, assuming that you didn't have to make any cap cost reduction to get it. I doubt that you will be able to negotiate another grand off of that.

    Car_man
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  • travdog34travdog34 Posts: 10
    CAR MAN - If you happen to have time would you mind checking out my post #975.

    I just talked to a dealer and he said that now the best he can offer is over $300/month with $0 down payment.

    Is he giving me some b.s?

    Thanks!
  • hlyhly Posts: 1
    I leased an Altima 2.5S this month with 0 down, 225/month for 39 months. When all was said and done, they added up about $1900.00 in charges (taxes (8.38% in NY), title, registration, document/acquisition fee - that was between 7 and 800 -- but they gave me $700 for a somewhat beat up 2000 Malibu. Dealership is in Queens, NY.

    And the Nissan site IS offering incentives this month -so I think you can do better than your current deal.

    --HLY
  • HEY CAR MAN: i want to lease a 2009 altima 2.5sl and the best price i got was $20,860. i didnt go to the dealership yet, this was an internet quote. if that price stands do you know what the lease payments would be? 36 months 12k miles.
    got this price from HALDEMAN NISSAN in central jersey.this is all the info i got online.
    Thanks for the help

    anyone online lease an altima in central jersey recently?
  • Carman: Went to a dealership and was told that the $1500 rebate is only for purchase not for leases. Is that true?
  • mddj4mddj4 Posts: 5
    I was just quoted on a 39 month lease for the Altima 2.5 SL with 15,000 per year at
    $348 per month including tax (FL 7%) and out of pocket $1198.00. Is this a fair deal?

    Miami, Florida
  • just got quoted for a 2009 red nissan altima s with the sl package(msrp $27,754 lowered to $22,587) $353 a month, 39 month lease with no money down.
  • mddj4mddj4 Posts: 5
    I visited another dealer in Miami and received the following quote:

    4 door ALTIMA 2.5 SL plus the connection package for a term of 39 Months, $350.00 per month which includes the tax (FL 7% tax). 15,000 miles per year, and out of pocket expense of $580 ( 1st month and title transfer,etc.). Better than yesterday quote.
  • Car Man, I am looking to lease a 2009 Nissan Altima 2.5S in the Boston MA area. I am looking for the residual rate and money factor for a lease with both 12K miles as well as 15K miles.

    I am also curious as to the negotiated Cap costs that people have been getting.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi travdog34. This car's lease payment will vary depending upon what sort of selling price you negotiate. I can work up a sample payment for you using April's lease program if you'd like. The car that you described probably had a spread of around $1,350 between its full MSRP and its dealer invoice price. Add to that the $1,000 bonus cash that Nissan was providing on it and you have a total of around $2,350 to play with during your negotiations. For now I will assume that you were able to get this car for $500 over dealer invoice. Let's crunch some numbers.

    According to my calculations, if you were to lease a 2009 Nissan Altima 2.5 S AT that has an MSRP of $22,545 and a selling price of $20,695 through Nissan Motor acceptance Corp. right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $260. Of course, this doesn't include taxes or fees and Nissan enhanced its incentives (the new bonus cash) since your original post) but this is what I would shoot for if I was in the market for this car.

    Having said that, Nissan's April lease program was only scheduled to run through yesterday, the 30th. Many manufacturers decided to extend their April programs through May 4th. I'm not sure if Nissan did or not, but either way it will introduce a new May lease program for this car, which may or may not be similar to its April program, any day now. Please feel free to check back with me to get an idea of what the new May program is like.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi stmfttr05. I would be happy to use Nissan's actual lease program to work up a sample payment on the car that you are interested in for you. However, in order to do so I need to know both its selling price and its full MSRP. I see that you already have the selling price, which is a good thing because this is a very important number that many consumers ignore. Just ler me know what the MSRP is and I'll crunch some numbers for you.

    Nissan's April lease program was only scheduled to run through yesterday, the 30th. Many manufacturers decided to extend their April programs through May 4th. I'm not sure if Nissan did or not, but either way it will introduce a new May lease program for this car, which may or may not be similar to its April program, any day now. Please feel free to check back with me to get an idea of what the new May program is like.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    What you were told is correct, khriscota. The $1,500 customer cash that Nissan was providing on 2009 Altima Sedans in April was only for purchases, not leases.

    However, on April 17th, Nissan introduced a special $1,000 bonus cash incentive on the '09 Altima that was compatible with its special lease program.

    I used the past tense in my above statements because Nissan's April lease program was only scheduled to run through yesterday, the 30th. Many manufacturers decided to extend their April programs through May 4th. I'm not sure if Nissan did or not, but either way it will introduce a new May lease program for this car, which may or may not be similar to its April program, any day now. Please feel free to check back with me to get an idea of what the new May program is like.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi richiscan. Nissan Motor Acceptance Corp.'s April buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima 2.5S Sedan with 15,000 miles per year were .00124 and 57%, respectively. The residual value for a lease with only 12,000 miles per year is 1% higher.

    As far as what sort of selling price to shoot for goes, if I was interested in leasing an '09 Altima right now I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $1,000 bonus cash.

    I used the past tense in the above statements because Nissan's April lease program was only scheduled to run through yesterday, the 30th. Many manufacturers decided to extend their April programs through May 4th. I'm not sure if Nissan did or not, but either way it will introduce a new May lease program for this car, which may or may not be similar to its April program, any day now. Please feel free to check back with me to get an idea of what the new May program is like.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • fractiousfractious Posts: 5
    Hey Car_man,

    Looks like the new May Nissan Altima programs just came out. Could you tell us the details?
  • fractiousfractious Posts: 5
    Car_man,

    Another question. I got a quote on a 09 Altima 3.5 SE 4dr. MRSP is $33,780, dealer invoice is $30,867. Dealer will give the car to me for $207 over invoice. So for a 39 month lease, 15/yr, dealer quoted me at $386/mo w/ $3000 down total out of pocket in NJ (7% sales tax). Does this seem like a good deal?
  • todaotodao Posts: 7
    Car Man, I've got an offer for an 09 NAH, fully equipped (convernience, tech and communications package with moonroof) at 39 months, 15K/year for $475 in LA. What do you think of this deal? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yep, fractious, Nissan did end up introducing its new programs on the 1st. Nissan Motor Acceptance Corp.'s new May buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima 2.5S Sedan with 15,000 miles per year are .00107 and 56%, respectively. The residual value for a lease with only 12,000 miles per year is 1% higher.

    Nissan is not providing any consumer cash incentives on leases of this car, but it is providing dealers that hit their sales targets with $1,000 dealer cash per unit.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey fractious. Let's use Nissan's new lease program to work up a payment on this car and see what we come up with. According to my calculations, if you were to lease a 2009 Nissan Altima 3.5 SE that has an MSRP of $33,780 and a selling price of $31,074 through NMAC right now for 39 months with 15,000 miles per year, I estimate that its zero down, pre-tax monthly payment would be around $382.

    How does the $3,000 that the dealer is asking you for at lease signing break down? I ask because I usually advise consumers to pay as little money at signing as possible. Consumers who make large down payments on leases risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, it's safer to go with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi todao. the best way to evaluate this deal would be to take a look at its selling price. The selling prices of leased vehicles are negotiable, just as if one was paying cash for or financing. Without this number (and the MSRP or dealer invoice price to compare it to) it is difficult to tell how much of a discount you are being given.

    Let us know what the selling price and MSRP are and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
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  • todaotodao Posts: 7
    Thanks Car Man. Sorry for not giving the info. MSRP is $34,9890, invoice is $32,191. Edmunds shows an additional $2,000 incentive/rebate for the car but I don't think that was included in the dealer price (I assume the incentive is only for purchase, not lease).

    The dealer is offering a selling price of $31,150.

    With that the lease offer is 39 months, $2,000 down, 15K miles/year and a monthly lease payment of $475.

    What do you think?
  • fractiousfractious Posts: 5
    Car_man,

    Not 100% sure what the downpayment is used for... But based upon some of the numbers I saw on the computer screen, I think that it looks something like this:

    Inception fees - $1450
    $595 aquisition fee
    $249 documents fee (title, registration, etc)
    $199 window etching (i should really get this removed)
    $386 first month payment

    Cap cost reduction - $1550

    Does that seem about right to you?
  • I would advise you to go to a high volume dealer and take advantage of that $1000 dealer cash. If that fails, try the last week of the month when they will know about where they stand to qualify for that dealer cash.
  • orserorser Posts: 7
    Have "Tent Sale" Lease offer from 2 dealers of $305/mo. on Altima S with MSRP of $26005 (SL, Convenience, Conv. + ). $0 down, includes tax, etc.

    One dealer will sell it for $4352 less ($21653)

    Is the lease deal good? Seems like sale price is better.

    Thanks
  • gpb59gpb59 Posts: 69
    which dealer(s) are these?
  • derfsonderfson Posts: 13
    ASK THE DEALER WHO GAVE YOU THE SELL DEAL TO TURN THE $21653 INTO A LEASE INSTEAD. THEN YOU CAN COMPARE THE TWO DEALS.
  • gpb59gpb59 Posts: 69
    so I assume, since the tent sale said 249/mo they said 305 sith the SL package? Is tax inclued in the monthly Pmt?
  • njdesi2njdesi2 Posts: 1
    Car_man,

    Thank you for the information and guidance you provide. Do you know what the money factor and residual % for the altima coupe is different than the sedans?

    I'm trying to find a good lease deal on altima 2.5 S (CVT trans) with premium package. So far the best i could get was 340 (inclusive of tax) + 1395 - ( includes acquisition fee, 1st month payment, other fees) or 353 if i bundle in the $595 acquisition fee into the payment. This is for 12K miles per year.

    Edit: Edmunds shows MSRP as 28070, invoice as 26003, and TMV (1500 rebate) 24643.

    I feel like the lease is still 15-20 dollars higher than where i'd like to be, but am not sure its doable. What do you guys think? Should I just buy the car instead? The best purchase price i have is 23,900 (26K out the door).

    Thanks again.
This discussion has been closed.