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Nissan Altima Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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.
  • orserorser Posts: 7
    Yes, tax and fees are included. Thanks

    Just got lease another offer for $280 /month with $1000 down on Altima with MSRP of $26180.
    Says that is based on a selling price of $23100.
  • cenergycenergy Posts: 2
    I just called the dealer over in Rochester and they said they would honor the tent sale deal. That is for Altima S - 249 a month, 249 first month payment down, sign and drive (taxes, fees, etc. included).
    Residual value $12715
    MSRP 221715

    I forgot to ask how much the selling price of the car was but does this sound like a good deal?
  • orserorser Posts: 7
    $249 was the lowest I found. Another in Rochester advertised $259, One in Syracuse was $299.
  • dreamk1dreamk1 Posts: 2
    Anyone here might know what price I can get for the '09 Altima S class?? I live in Brooklyn NY zip 11229...anyone familiar with any quotes from dealerships from this area? Any help would be good. Thank you!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're welcome, todao. Unfortunately, the $2,000 consumer cash that you mentioned is not compatible with Nissan's special lease program. Tthe only cash incentive that is available on the '09 Altima right now is a volume based dealer stairstep program.

    The selling price of around $1,000 under dealer invoice that you were quoted is an excellent deal. Just make sure that the dealer that you are working with uses Nissan Motor Acceptance Corp.'s current buy rare lease money factor of .00259 to calculate your lease payment in business.

    The only adjustment that I personally would make to this deal would be to reduce the amount due at lease signing. I always advise consumers to put as little money down as possible when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Your monthly payment will be a little higher on a lease with less due at signing, but you'll be safer.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey fractious. NMAC charges a $595 acquisition fee on every vehicle that it leases, so that charge is fine...though you should be able to have it rolled into your car's capitalized cost to bake it into your payment if you want. Obviously, the first month's payment is fine as well.

    The $249 doc fee is really nothing more than dealer fluff, this this dealership probably charges it on every vehicle so I doubt that you will be able to get them to remove it. As long as the total price that you are being charged for the Altima that you are interested in, including this fee, is less than or equivalent to what you would have to pay for it elsewhere it really doesn't matter how the total price breaks down.

    I personally would have the dealer remove the $199 window etching fee. You don't need it.

    You would be better off not paying the capitalized cost reduction as well. Yes, without it your monthly payment will be higher but A) you will have that money to use in case of an emergency and one never knows what will happen in today's economy and B) you won't risk losing the money that you put down if your vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, njdesi2. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima Sedan 2.5 S with an automatic transmission and 12,000 miles per year are .00107 and 57%, respectively. The numbers for the '09 Altima Coupe 2.5 S auto trans are different, .00180 and 54%.

    The $1,500 consumer cash that you mentioned is not compatible with Nissan's special lease program, but Nissan is running a special volume-based dealer stairstep program that is. If I was in the market for an Altima right now, I personally would shoot for a selling price of $500 to $1,000 under invoice and see what happens.

    Car_man
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  • I just got quoted $325 and thats with the down, bank fees, tax, and everything rolled into the 325 for an altima w/ every single option loaded for 42 months 10k miles a year.. asked a leasing agency and they told me that they dont know how in the world they were able to do that... am i missing something are they yanking my chain is there a catch?
  • khriscotakhriscota Posts: 5
    carman, wanted to find out the residual and MF for june 2009 on a altima hybrid 2.5SL and a regular 2.5SL for 36, 39, 42, and 48 months. If possible. Thanks!
  • bakkerjbakkerj Posts: 6
    Car Man,

    I'd like to get this information too? That is the residual and money factor for an altima hybrid for 36 months and both 15,000 and 18,000 miles.

    Thanks,

    John
This discussion has been closed.