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Nissan Altima Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Tony. They're perfect of course :). I'm really not aware of any resource that provides consumers with an accurate picture of manufacturers' actual lease programs.

    Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2011 Altima Sedan 2.5SL with 12,000 miles per year are .00034 and 59%, respectively for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go loud0g40oz. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Altims Sedan 3.5 SR with 12,000 miles per year are .00034 and 60%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of an '11 Altima Coupe 3.5 SR are .00078 and 55%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • myke0323myke0323 Posts: 8
    edited May 2011
    Hi Car_man,

    Do you have the numbers for a 2011 Nissan Altima Coupe 2.5 S?

    I'm not sure if most of the numbers posted here are sedans or coupes, but imagine they are sedans.

    One more thing: Can the $1250 incentive be applied towards the lease? And how about the $500 college student/grad incentive?

    Thanks in advance!
  • loud0g40ozloud0g40oz Posts: 37
    Thanks Car_man. The lower money factor and higher residual on the 3.5SR sedan make it the winner.

    Can you tell me if the money factor and residual changes with 39 month leases, and also does Nissan offer 10k/yr mileage leases? If so, what's the money factor/residual of them for the 3.5SR Altima sedan?
  • showroom4showroom4 Posts: 4
    Hey skoorbmax, I am in WNY as well, what dealer was this at and on what model/options. Thanks a lot!
  • skoorbmaxskoorbmax Posts: 10
    Hi showroom4, the price I mentioned a few days ago was from Hoselton Nissan. I was told tonight that they are possibly changing their lease deals as early as tomorrow morning, I guess we'll have to see.
  • skoorbmaxskoorbmax Posts: 10
    Just picked up a 2011 3.5 SR bare bones plus a few cheap options (bluetooth, floor mats, some other $100 option I can't remember), for a cap cost of about ~$22,600. Residual ~$15,200. $1750 incl first payment and $209/month * 38 more payments. "rent" charge on that depreciation was something around $800, which confuses me. I've not pored over the numbers yet but a sub 1% money factor (and credit rating did guarantee that) should have had less paid into interest. For whatever reason I don't understand (and I'm quite inclined mathematically but really this one eludes me nor could anybody seemingly explain it), putting additional money into this to reduce payment was having an incredibly weak effect ($1750 further reducing payments a mere $25/month instead of ~$50 as I'd expect), so I simply didn't do it.

    Realistically I think I got within a few hundred bucks of about how cheap any dealership will let one of these go right now. No grad discount or anything like that.

    I got this for right around where local Hyundais were pricing their (after some negotiation mind you) base model Sonatas. Those are very sharp cars, I like them (look better than an Altima, too), but it would have been foolhardy to pick a base Sonata over a 3.5 SR, unforgivable even.
  • brian4001brian4001 Posts: 7
    Hi Car Man,

    Can you please provide the RV and MF for an Altima 2.5S for 12,000mi/36month lease.

    I'm in the NYC area if that helps...

    Thank you
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly do myke0323. Nissan Motor Acceptance Corp.'s May buy rate lease money factor and residual value for a 36 month lease of a 2011 Nissan Altima Coupe 2.5 S with 15,000 miles per year are .00078 and 54%, respectively.

    The $1,250 cash incentive cannot be used on leases, but Nissan is providing a $500 bonus cash incentive which can be. The college grad cash is probably compatible with the lease as well.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • ahashmiahashmi Posts: 77
    Hi Car_man,

    A dealer said the MF and residual on a 3.5SR with Tech, Sport, and Premium pckg was .00053 and 57% respectively?

    Why the difference?
  • mizzourimizzouri Posts: 1
    Hi Car Man,

    Nissan just announced a special lease on Altima sedans:

    2011 Altima 2.5S CVT w/Splash Guards & Mats Lease
    24 Months - $189/Month - $2,999 initial payment.

    There is also one at $179/month, but you have to pay a $595 acq fee in addition to the $2999 down payment.

    Could you please provide the residuals and money factors for both leases?

    I'm a little bit disappointed because I called some local dealers in my area to obtain this information and completely got the run around! A few couldn't find their books and "didn't know." One told me the residual was 65% and MF .00195. Another was a bit closer I think at 56% for 12000 miles and a MF of .00053. This was the first time I've ever had dealerships either refuse to provide this information or make it extremely difficult and unpleasant.

    I'm in Missouri (the dealership I contacted were in the greater KC area).

    Thank you SO much!!
  • cooperj112cooperj112 Posts: 7
    I am wondering the same thing. I just got a quote for a 3.5 SR for 12k Miles and 36 months with a MF of .00053 and a residual of 54%. Are these numbers region specific or are they changing as the months goes along?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ahashmi. I believe that the numbers have changed. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Altima Sedan 3.5 SR with 15,000 miles per year are .00053 and 58%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, mizzouri.

    According to the latest information that I have seen, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 24 month lease of a 2011 Altima Sedan 2.5S CVT with 12,000 miles per year are .00001 and 61%, respectively for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • ahashmiahashmi Posts: 77
    I know what you mean, I just leased a Maxima, and I've never had this much hard of a time obtaining this information, most said 'we don't know, we just plug into the computer, and it gives us numbers.'

    I even called NMAC and Nissan HQ to get this, and they wouldnt tell me either. They kept saying "ask the dealer" I'm like every dealer is getting me different numbers, its really stupid.

    Best way is to ask in person at two dealers, and if they don't want to provide it to you, walk out. You're not into to get ripped off.
  • air6air6 Posts: 2
    edited May 2011
    Hi everyone,
    I accepted a quote on the following pkg last evening in Massachusetts:
    Memorial day sale

    Altima S
    15,000 miles per year/39 months lease
    + SL Package
    + Splash Guards
    + Convenience Package
    + Convenience Plus Package
    + Premium Audio Package
    + Mats

    $28,200 MSRP
    0.00038(Money Factor)
    $16,074 Purchase Option
    $335 monthly payment

    No money down and no out of pocket expenses i.e. all fees included in monthly payment
    No 1st month payment
    They also threw in a maintenance pkg ( oil change and tire rotation for lease term)
    I have no idea what the sale price is or what rebates I am getting

    Is it a great deal? I am supposed to sign the lease paperwork this evening
    Thanks
  • ahashmiahashmi Posts: 77
    You should be able to do better. Seems like they're selling you the car at $27250, when it should be more like $24500 with the $500 incentive.

    You should be about $270-280 including tax specially with that MF (which i think is not correct, should be .00053)
  • cowkittycowkitty Posts: 7
    Hi Carman!

    We've been getting some widely varying numbers from the Nissan dealerships and wanted to know if this was a good deal. We're in Oregon by the way so there's no sales tax.

    For a 2011 Altima Coupe 3.5 SR with all 3 packages (Tech, leather and premium)
    MSRP is $34,495.
    Sales price: $31,676

    Terms of the lease:
    $2000 down (that doesn't include first month, DMV etc) on a 39 month lease with 12,000 miles/year.
    Residual value: $18,627 (they said that's 54%)
    Money Factor: 0.00078 (they said it hasn't changed since May)
    Monthly payments are $369.00

    Is that a good deal? They originally had it at $383 a month which was based on the MSRP. When I asked them to lower the price of the car, they responded that it would make the monthly payments go UP. So I declined the offer and they called back today with the new sales price and $369 figure. When we punched the numbers into the Edmund's Lease calculator with the same numbers, we got $350/mth.

    p.s. This has been a real headache for the last few weeks. One Nissan dealership quoted us a money factor of 0.00229 (5.5% APR) for an Altima 2.5S with just the convenience pkg - a monthly payment of $395!! We just looked at them and walked out. Talk about adding in a dealer reserve! :surprise:
  • cowkittycowkitty Posts: 7
    Well, the dealership just called me back again to tell me that one, the money factor has gone up for 3.5SR Coupes to 0.00112 and that OOPS they had given me pricing info on the wrong car and now the lease payments are $396.

    Deep breath.

    What is the money factor and residual for the Altima Coupe 2.5S and the 3.5SR for the month of June?

    I guess I'm back to square one.
  • ahashmiahashmi Posts: 77
    That is an insanely expensive deal. Look at the Maxima thread to see how much I got it for.

    My Maxima (MSRP $38030), I got it for much cheaper than that. Thats a ridiculous price.
  • Hi Car Man,
    I was offered a lease of 265/mo with only 1st month payment (no down payment) for a 2011 Altima 2.5S w/ bluetooth, floor mats, and splash guards with an MSRP of 23,960, money factor of .00054 and residual of 13,657.29. The lease price includes tax, all fees, and registration. Is this a good deal??
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi icendio777. It would be easier for me to evaluate this deal if you were able to provide me with this car's selling price first. this would save me from having to back into it. Do you know what that number is?

    Car_man
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  • ahashmiahashmi Posts: 77
    Whats your term and mileage?

    If I assume 39 mo and 15k/yr with the RV (57%) you provided, and Due @ Signing Cost is $595 bank fee, $211 DMV, $250 Doc Fee -- all rolled into you monthly, then:

    Your selling price for the vehicle is $21,500 and POM is 43%. Which is not a bad deal considering the dealer is selling at cost, but you should be able to drop another $500, so your monthly is $252.
  • djdezdjdez Posts: 75
    Car_man,

    Do you have updated numbers to reflect the new 24 month lease that's being offered in June?

    Looking for 24, 36 and 39 months, with 12k miles MF and residual on both the Altima SL and Coupe S

    Thanks!
  • alcapalcap Posts: 24
    Car_Man

    I am looking into lease of 2011 Altima 2.5 S. Do you know updated numbers for New Jersey? So far the dealers I contacted are putting me in the high 300's with tax when I was thinking mid 200's with tax. Also on another note I might trade in a car with negitive equity, and the dealer told me for every 1,000 dollars you roll into the lease it will increase your payment by 30.00 dollars is that correct? And also if I trade in car that I still owe money on does it save me any money on the tax for the new lease?

    Thanks,

    Car_Man

    15,000 miles per year/39 months lease
    SL Package
    Splash Guards
    Convenience Package
    Convenience Plus Package
    Premium Audio Package
    Mats
  • freddytttfreddyttt Posts: 8
    edited June 2011
    Hello everyone- here is what i got-i do need to move as quick as possible however i did walk out mid through negotiations-

    I wrote these down as the salseman would not give me the paper-

    2011 Altima s

    Fully loaded-

    39 month lease

    Convenience Plus Package
    SL package
    Tech Package

    30,800
    28,780
    1500 down to cover DMV deal whatever-(this does not bring price down)
    res. 17476(buyout)
    .57

    324 month-

    thoughts?
  • ahashmiahashmi Posts: 77
    28780 is not really lower than MSRP, you should be about 26k on this car with all the incentives. Try zag.com
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi djdez. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2011 Altima Coupe S with 12,000 miles per year are .00230 and 58%, respectively.

    The numbers for an otherwise identical 36 month lease are .00078 and 55%.

    The 39 month numbers are .00078 and 54%.

    I believe that the numbers are exactly the same for the Coupe with the SL package.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • freddytttfreddyttt Posts: 8
    edited July 2011
    well i did on the phone in 10 min what i could not do face to face in 10 hrs with 5 dealerships. at that last dealership in person and the only dealership that had a black on black loaded with leather sl bose audio and so forth. in the middle of negotiation on price my wife blurted out that another dealer had the price at 315.00 a month. since i was still trying in negotiate the MSRP i new at that time it was GAME OVER. and of course the salesmen dropped from 359.00 a month right to 315.00. i walked out.picked up the phone at a deale 50 miles away who had a loaded black on black. 2876, 24734 OTD 265.00 a month. no haggle no BS. these prices were internet and posted online. i was shocked but very happy. this is a dealer in NJ.

    this however did not include Tech package. i tried and tried and just could not find and see one with the Tech. package.
  • coke69coke69 Posts: 4
    This is my first lease and not sure what i can negogiate. Live in the NY/NJ area and looking to lease an altima 2.5S. What is a fair term. Appreciate the info/help/guide. Thank You, Joe
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