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Nissan Altima Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi worleygirl. Nissan Motor Acceptance Corp.'s August buy rate lease money factor and residual value for a 39-month lease of a 2013 Altima Sedan 2.5 SL with 15,000 miles per year are .00200 and 59%, respectively for consumers who qualify for its top credit tier.

    I'm sure it's only a matter of time before the incentives that Nissan has to provide on the 2013 Altima improve. the question is how long will the new model honeymoon period last with it? It is very possible that this car's programs will be more attractive in January than they are today, but it is difficult to say for certain what Nissan will do with its future programs.

    You absolutely should negotiate the selling price of a vehicle that you intend to lease. The selling price of leased vehicles are negotiable, just as if you were paying cash for or financing them.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zi_rah. Nissan Motor Acceptance Corp.'s August buy rate lease money factor and residual value for a 39-month lease of a 2012 Altima 2.5 Sedan S with 12,000 miles per year are .00020 and 52%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • khuzbuzkhuzbuz Posts: 14
    We finalized a deal for my brother, who is about to graduate college, and is taking advantage of the College Grad Program. With $2K out of pocket he will be paying $350/month on a 39 month lease for 15k miles per year. Monthly payments include tax, tags etc. Residual is 0.61 and money factor is 0.002.
  • Can you please tell me What was the sticker price on your brother's car?
  • khuzbuzkhuzbuz Posts: 14
    MRSP - $28,980
  • Hi everyone,

    I'm actually looking at a lease on this - 2012 Nissan Altima 2.5 S - with 12,000 Miles per year for 39 months. The numbers I have been able to negotiate towards pretty much line up with your numbers.

    It's for 200/month with 1500 total due at signing. So not 0 down, but the 1500/39 is comes out to $38 a month so it's pretty much a wash (excluding the time value of money, of course). Money Factor is .00020 and the residual is 51%

    I'm not sure if I can do any better than that or not, but if anyone has, I'd certainly love to hear about it as the deal will be done this week!
  • Thank you. Was there any Dealer Incentive Cash offered to reduce the Sticker price?
  • khuzbuzkhuzbuz Posts: 14
    I'm not sure if there were any rebates. I really doubt it since this model just came out in the market.

    MSRP - $28,980
    Internet Price - $28,200
    Final Agreed Upon Price - $26,700 (This is the 2nd vehicle we leased from same dealership)
    MD Tax - 6%
    Tag/Title/Doc Fee - $471
    Money Factor - 0.002
    Residual - 0.61

    Total Out of Pocket - $2,000

    Monthly Payment - $350 for 15,000 miles per year on a 39 month lease.
  • Test drove both the 3.5 S and 3.5 SV last week and very impressed with the car. I'm stil in the process of negotiating a good deal with the internet sales department of a dealership in my area. (New Jersey). I'm waiting on some lease numbers from them. I figured maybe I could get some helpful info here. So far I was quoted a "special internet " price for the 3.5 S of $24,699. Still waiting on a price for the 3.5 SV. I was told they are scarce because Nissan is still shipping. Based on my research thus far invoice for the the 3.5 is $24,165 so they are close but I still think I could get invoice or below. With that said can you please provide the money factor and reisdual for both the 3.5S and SV? 36 months and 39 months 12,000 miles per year. Also, if anyone recently got a great deal on the 3.5 and can share there experience that would be awesome. Thanks!
  • I got a very specific/targeted (or maybe not) offer from my dealer and I need your opinions to see how good it is... Here's the deal:

    1. I'm currently on a lease on 2010 Nissan Altima 2.5S w/SL with 8-9 payments left (I got a reasonable deal on it back in 2009)
    2. The dealer is offering me a new lease on a 2012 Altima with the exact same specs as my current one (2.5SL without navigation) for a pretty good price (under the TMV). The price is good because of a rebate due to the 2013 model being released and a rebate due to re-financing with Nissan (and some negotiation).
    3. Now, the kicker for me is the payment forgiveness for all 9 remaining payments and no wear and tear costs (including a scratch on the vehicle from a parking accident) or mileage costs etc. Basically I hand in my older vehicle and pick up the new one.
    4. I pay 0 down on the new vehicle and my monthly payment is even slightly lower than what I am paying right now.

    Questions:
    1. I know the 2013 model is a new generation model and has some significant differences. The 2012 model is almost exactly the same as mine, except for some minor differences and a better CVT. But is the 2013 model worth a huge premium?
    2. What I want to do ideally is take the lease and buy the car out after a year or so by paying the residual value. If I buy the car outright now, they are not offering me any rebates or payment forgiveness. In what situations does it make financial sense to lease and buy during the lease?
    3. Leasing the same car again - what do you think about that?
  • pegasus17pegasus17 Posts: 536
    REF: 1632
    Sounds too good to be true. Remember, NMAC owns your current car. Why would they give up the remaining 9 payments unless they get something in return? Perhaps i am missing something; others may chime in too, but color me suspicious...
  • kyfdxkyfdx Posts: 28,057
    Questions:

    2. What I want to do ideally is take the lease and buy the car out after a year or so by paying the residual value. If I buy the car outright now, they are not offering me any rebates or payment forgiveness. In what situations does it make financial sense to lease and buy during the lease?


    You can't buy the car after one year of payments for the residual value... The residual value is the buyout, only after all payments have been made. Buying it out after one year will be substantially more than that..

    If Nissan is offering a pull-ahead program that forgives your last 9 payments, and you can get into a new lease for less than you are paying now.. then, that is probably a good deal.. Buying a car out of a good lease deal is usually a bad move..

    But, as to questions #1 and # 3? That's just a personal decision you'll have to make... Do you want to drive the same car for three more years?

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • 2013 nissan altima 2.5 S

    msrp= 23755 (23410 plus car/trunk mats & remote starter = 23755)
    cap cost=-23164 (my agreed sale price 22569 plus 595 acquisition fee?)
    residual = 14478 (62%)
    money factor = .00200 (equates to 4.8% if converted to interest)
    monthly payment = 315 Incl tax.
    down payment = 500 which includes first payment.

    what do you think of this deal.

    back in 2009 my money factor because of a promotion was .0008125 (equating to 1.95% interest) , the new money factor .0020 is an increase of $45 per month if i figured one against the other with the above figures. and based on that the new money factor, which it seems the dealer doesnt have any control over, the payment would come to $330/month Incl tax. But you know the drill, take it today and Ill do it for 315.

    whats the prognosis on this deal..?

    thanks.
  • 2009 altima 2.5S w/ convience pkg (power driver seat).
    only 22,420 miles.
    residual/buyout of 13450. plus that $300 for something i never saw 3 years ago...regardless total buyout is 13,750....is this a good deal....

    and here on edmunds the value is for trade in 12,998, for private oarty sale 14,337, and for dealer retail 15571.

    yet i have seen dealers asking 16,995 and more for low mileage cars of 25K or less than 30K.
  • pegasus17pegasus17 Posts: 536
    REF:1635
    Sales price is too high. Fitzmall is offering their 2.5 S models at 500 below invoice. For a new car, that is a crazy price. Big competition is coming from Fusion and Accord. Nissan lease money factor is not good this month making your comps high. Shoot for $11 per 1000 of msrp pre-tax...
  • growing_creditgrowing_credit Posts: 26
    edited August 2012
    HI Speedman1,

    I am also located in NJ and interested in buying 2.5 SL with tech package. Can you please provide me with the dealers (also sales person if possible) that you got internet pricing since I got a rude to no-response indicating they do not provide any pricing online or via email. I am located in central jersey.

    Another request since I am new to all these can you detatil out your negotiation strategy.

    Thanks a lot in advance
  • Hi,
    This has been an extremely helpful website. I would like to return the favor by sharing my experience (sorry--it's a long story). After sending out numerous online requests to individual dealers, the lowest sales price I received was $23,294 (MSRP $28,445). However, when I asked to convert the price to a lease, I was quoted a price of $1,500 down and $289/month (39 months; 15,000 miles/yr.), which reflects a substantially higher selling price (apparently, the incentives are much lower for the lease). In any case, I targeted other dealers who happened to have the car (very few SLs are left), and explained that I had already worked out a deal for a fully loaded Honda Accord EX-L ($20,053 selling price; $28,450 MSRP; resulting in approx. 500 down and approx. $287/month on a 36 month/15,000 miles/yr. lease). I indicated that I would consider an Altima if the total cost paralleled the Accord. I received the following offer (39 months/15 K/yr.) from Faulkner Nissan (Jenkintown, PA.) today and picked up the car:

    MSRP: $29,445
    Sales Price: $23 841 (including $1475 rebate)
    Residual: $15,011
    Money Factor: .0002
    Monthly Payments: $248.91/month (Plus tax)
    In PA.. the lease tax is 9%, and fees totaled approx. $224 (Doc Fee=129; Online reg.= $15.90; Title=22.50; Registration=36. Thus, my down payment = $495 (monthly payment and fees) and my remaining 38 monthly payments=$271.31. Despite the higher selling price, this lease is competitive with the Accord because of a lower money factor (.0002 vs. .00046) and a higher residual. A 36 month Altima lease would be very close in price to the Accord (using these numbers).

    I am providing this (ridiculous) amount of detail because I found it nearly impossible to get this kind of information from dealers and/or most websites. I would also note that Faulkner Nissan did a terrific job; they did not try to push expensive add-ons and were extremely professional. Keenan Honda (Doylestown, PA.) was also pleasant to work with, and I would have used them to purchase an Accord.

    I hope this did not put anyone to sleep. I would be happy to provide additional information if it would be helpful.
  • I currently went to a local Nissan dealership in New York to get into a base 2013 Altima. After 1 week of neg. with dealer this was there final offer. $240 month/ 12k miles yr/ 24month lease. With $1700 due up front including first month payment, taxes, dmv fees and a 595 bank fee.

    What do you guys think of this? Anyone else recently price this vehicle? I dont know if I am gettin ripped off especially with 595 bank fee. Thank You
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi speedman1. I actually haven't had a chance to drive one yet, but the 2013 Altima is supposed to be a very nice car. Here's the information that you're looking for.

    Nissan Motor Acceptance Corp.'s August buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima Sedan V6 S with 12,000 miles per year are .00200 and 62%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39-month lease are .00200 and 60%.

    The money factors for the '13 Sedan SV V6 are the same, but the residual values would be 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    ZZZzzzzzzzzzz. :P . I'm just kidding, partcans. This post was awesome. Real-world examples like this are always extremely helpful for others who are in the market for similar cars. Thanks for taking the time to share! Enjoy your new ride.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • steen013altimasteen013altima Posts: 34
    edited August 2012
    pegasus......I called fitzmall for the deal, bc if it was good i have relatives thatll drive me the car to floritda, theyll get a free vacation too, i wont even have the expense of a auto transport.......in any case, i called fitzmall....they have great deals at below dealer invoice, and their below invoice price is 20,831.10 on a 2.5s with power seat (convenience package} in a 2012....NOT 2013.....

    out of curiosity, what is the exact selling price you got at $500 below Invoice ???
  • check your lease money factor numbers.....on the altima you said point,triple zero, two {.0002} this equates to .48 or lets round to 1/2point interest...THIS IS FREE MONEY....now I know on 2013 nissan, tier one credit is .002 {point,doublezero,two} this is 4.8%....

    and on the honda .00046 is 1.10% interest, also Extremely low...check your fiqures..

    and on 2012, the residual on the honda is 58%, what is it on the "2012 altima.
  • pegasus17pegasus17 Posts: 536
    edited August 2012
    REF: 1643

    I did not say i bought one in my earlier post:
    "REF:1635
    Sales price is too high. Fitzmall is offering their 2.5 S models at 500 below invoice. For a new car, that is a crazy price. Big competition is coming from Fusion and Accord. Nissan lease money factor is not good this month making your comps high. Shoot for $11 per 1000 of msrp pre-tax..."

    A minute ago, there are 9 sv models at 500 below invoice. here is one example:
    http://fitzmall.com/fitzway/carfind/RESULTSB.ASP?V_XREFID=FTON102984:2012-08-02T- 23:15:04.233

    FWIW, the NMAC money factor is too high this month making a super lease deal hard to get. Residual %'s are good though.
  • Sure. I'm currently dealing with Haldeman Nissan in Hamilton, NJ and Windsor Nissan- so far both have been responsive and provided lease numbers via email. Actually, Haldeman will email quickly if after putting in a request online. What dealerships have you reached out to so far??

    I'm still in the process of negotiating but basically, I am aiming for below invoice since I'm able to use the VVP (vechicle purchase program) through my company. This will allow for a pre-set vehicle price without the back and forth price haggling. I have the residual, money factor and interest rate so i just calculate my payment. The only issue I'm having is that the montly payment is coming out to be higher than I expected because of no incentives (cash back, rebates) etc. Also, the reisidual value isn't very high. I don't know if this will change after the car has been out for several months. I'm getting conflicting stories about this. Either way I really like the car so I don't know if I should just continue to push for a better deal or just wait ( problem is my lease on my current car is ending in sept). I drove the 3.5 SV and it's great but maybe i should look at a lower priced 2.5. I dunno.

    Let me know if you've made any progess with your negotiating. Good luck!
  • Hi, You can confirm with our sleepy host, but the money factor is correct--.0002. This is less than half of the Accord's money factor, and one of the reasons that I was able to lease it for less than the Accord (despite the fact that the selling price was higher). The residual was 52% (after 39 months, 15,000 miles/yr.)
  • How do you feel about 2013 Altima 2.5 (base model) for 24months, 12k year, 1700 out of pocket including first month, $240a month.

    OR

    2013 Altima 2.5 (base model) for 39months, 12k yr, $2000 out pocket, $235 month

    Thanks for your input
  • I am located in Central Jersey and I inquired pricing with Sansone auto, North plainfield nissan, edison nissan. So far edison nissan is the most honest dealership with me indicating they don't have received any SL's so would not be able to give me the pricing. This was back in July 2nd week. I went in to have my old car appraised. Once they recieve the car I will be actually getting onto negotiation step. Btw I am planning to buy the car since I would be using it for atleast 7-8 years and my driving mileage are high.

    Sansone and north plainfield nissan were not at all cooperative and they want me to come down and only than they would talk the pricing. Sansone person was so confident that they wanted me to come in sign the paperwork, give deposit and they can get me the new 2013 SL, Tech package, black-on-black in "2" days. This was also in July 2nd week. After that I have decided to wait unless dealerships have the cars actually listed on their website and only than I would start the process.
  • that SV @ 22694 is a great deal it is at .90 of msrp.

    Ive gone to 4 dealers in south florida and they are not moving off 95% of msrp for any and all altimna models.

    the dealers Ive gone too, one is an autonation dealer with many outlets, another is an automall with various brands (honda/gm etc) the other two were only nissan dealers. that my choice down here.
  • pegasus heres the comparison on my south florida lease proposal vs fitzmall. on the surface fitzmall is better.
    fitmall deal was msrp 23580 vs 23410 (difference was fitz had side moldings), sell price w/ acquisition cost was fitz 21916 vs 22926. RV fitz 14384 vs 14280.

    figuring the lease at .002 money factor bc this is nissans tier one now.

    fitz payment 266 vs 296.

    but with fitz i need 1454 for tax, fees , regi, tax in advance and tinting windows, VIN etching PLUS first months lease payment vs just 186 plus first payment (the fees, etc, vin etch, tint etc was eaten by the dealer in so. florida not fitz who had the lower starting price.

    final tally.....south florida lease payment 296. fitz payment if all was folded into lease 297. (all lease figures are without local sales tax monthly)

    in conclusion you truly get what you pay for and no matter what dealer even if 1200 miles apart the numbers are the same...the freakin same.

    I am going with florida. less money out of my pocket. i can go for an additional $30 per month vs having to come up with another $1,268 at inception now with fitz.

    and as an add'l bonus, having vin # etching saves me $17 per month on my insurance vs no etching.

    thanks for participating in this journey.
  • on the surface for a base 2.5 it doesnt seem bad. this is the national deal from nissan, to do better more info is needed..such as whats the msrp, whats the selling price or cap cost.( i know there are no programs so their are no cap cost reductions) and for your info the bank fee or acquisition fee of $595 is pretty customary and applied to all leases, it really is a bank fee !!.

    residual is probably at 61% or so, this is by the book, dealer has no say. but they do have a say in the seller price or cap cost after any reductions or additions (such as bank fee).

    if your tier one your money factor (which is how they figure your rental fee is .0020, thats what NMAC (lease co of nissan) is offering now, it equates to a 4.8% interest if you wanted to convert it (.0020 x (multiplied by ) 2400=4.8%.

    also the percentage of selling price to msrp to arrive at a good deal is needed. for instance a 90-91% selling price to msrp is really good. a 95% selling price to msrp is ok, but in a lease just those few percentage points will cost you, $20 to $30,.

    write here the numbers, Ill figure it....
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