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Nissan Altima Lease Questions

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Comments

  • buffalo78buffalo78 Posts: 36
    Wondered if anyone knew the lease numbers for a 3.5SL with Tech pkg (if that mattered), 39 mos, 15K (possibly 18K). I'm in New York.

    Thank you!
  • Just got my 2.5 SV with convenience pkg. MSRP 26.700 Lease payment $320 including tax 0 money down. First payment made by the dealer. Seems that the money factor went up for march lease program. To find what is your corresponding interest rate just multiply your money factor by 2400.
  • nsolisnsolis Posts: 9
    Just finished my new lease deal at AutoFair Nissan in Massachusetts. Massachusetts has a 6.25% tax rate.

    Nissan Altima 3.5 SL, Black/Black; everything included except Tech Package. (No need for NAV in 2013 and the presence of smart phones/personal GPS devices; the 3 other parts of the NAV package seemed excessive.)

    PRICE OF CAR

    MSRP - $31,475
    Selling Price - $28,000
    Acquisition Fee and Doc Fee - $595 + $372 = $967
    Rebates - $500 Loyalty and $375 Leasing Altima = ($875)
    Total Cap Cost - $28,092

    FINANCE NUMBERS

    Money Factor - .00073
    15K Miles Per Year/Residual of 60% of MSRP - $18,885

    MONEY PAID AT DEALER AT CLOSING

    First Months Payment/Title Fee/Registration Fee/Minimal Cap Cost Reduction and Associated Tax to get my payment to an even $301 = ($301/$50/$75/$236.22 and $14.76) = $677

    $283.30 + $17.70 = $301/month.

    Moreover, I turned in my 2010 Nissan 2.5 SL lease and per usual with Nissan, they waived my wear and tear charges of $380. (They waive up to $500 if you buy/lease another Nissan).

    How'd I do Car_man?
  • nsolisnsolis Posts: 9
    It's hard to know newgirl12345 without knowing the MSRP and Negotiated Selling Price of the vehicle. Moreover, I've never found it to be a good idea to put a huge amount of money down on a lease; just my opinion, but I know it's shared by others.
  • brcarbrcar Posts: 10
    Received this offer today in NJ. This was the first Nissan dealership I have gone to and told them that I was looking at other makes/models, to make a competitive offer, that I know how to calculate a lease and not to show me any quotes with the sale price anywhere near MSRP.

    Tried to get them to itemize all of the fees which turned out to be quite difficult and the numbers don't seem to exactly match what was posted here.

    Altima 2.5S

    MSRP: 23,850
    Sale Price: 21,200 (including delivery) - They claimed this was $700 off their cost.

    MF: .00073

    Here is what was throwing me off
    Residual: 61% - Saw this as 60% here (not that i'm complaining)

    $14,704 was hand written as the "buy out" I assume residual value, but I don't see how they arrived at that using either 61% or 60%.

    $249 Doc Fees
    $595 Acquisition
    $330 Title, Tags (4 years registration)

    For a truly no money down (they pay first payment) including 7% tax:

    $269 x 35 remaining payments

    No mention was made of the $375 cash incentive.

    Using the leaseguide calculator and the stated 61% residual I get a payment including 7% tax of $262.34 (this is essentially the same as 35 payments of $269 that they quoted.

    If they were to include the $375 lease cash I've seen advertised I get $251 X 36 months

    Using the "buy out" number quoted (w/ no incentive) I get a payment of $257 (36 months). With the cash incentive I arrive at: $245.52 (36 months)

    After the information overload, I guess my question is what does everyone think? Is this a fair value for this model? What quotes are others getting for a 2.5S?

    Any input appreciated.
  • aaachaaach Posts: 5
    Altima 2.5 SV with Mats, Splash Guards, and External Ground Lighting
    MSRP $25,840
    42 mo
    10K mi/year
    Including PA taxes 6%
    Nothing down
    Doc fees about $85
    $450 return fee unless repeat lease
    $500 allowance for return damage
    PA registration and plates $220 extra

    $265 / mo

    Is this a good deal? Thanks.
  • jknast1jknast1 Posts: 1
    This deal is pretty good, but I think they can do a little better.

    I am picking up an Altima SV with conv package, splash guards, mats, external ground lighting on Friday for $269 per month.

    This is for 36 months, 12k per year. The only payment on Friday will be the first month's payment ($269). I live in NJ which has a sales tax of 7%.
  • mdspinnermdspinner Posts: 14
    Ask about st. pat's day bonus cash
  • Can you please share your residual and money factor? I think i am pretty locked in on the MF at .00073, but i not sure if 12K a year is 60% or 62% for a SV.

    Thanks
  • brcarbrcar Posts: 10
    What dealership is this?
  • Car Man , am I crazy for this offer ?
    Here is what I offered.
    MSRP 31195 added spoiler and tint offering 400.00 as adder to MSRP 30795
    Offered 27452
    Fee's added 745. / 595 and 150 for doc
    I want the rebates as down payment 500 loyalty , 500 St. Pat's
    cap cost 27197
    57% residual
    .00073 money factor
    3 year 15 k miles per year
    7.55% tax
    Car note 294.39
    Tax 22.23
    total per month 316.62
    Am I crazy for asking for this deal ? As others have said BE STUBBORN . We still have 2 payments to go , so I have time
  • aaachaaach Posts: 5
    $265 was at Kings Nissan
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mdspinner. If you qualify for NMAC's top credit tier the buy rate lease money factor for all 2013 Altima Sedans should be .00073 this month. If the dealer is trying to charge you anything higher than that they are likely attempting to mark your car's money factor up to bake additional hidden profit into your deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nsolis. Nissan Motor Acceptance Corp.'s March buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima Sedan 3.5 SL with 15,000 miles per year are .00073 and 60% for consumers who qualify for its top credit tiers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rehab702. I believe that the lease cash is only available in the Midwest and Eastern portions of the U.S., not Nevada.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello buffalo78. Nissan Motor Acceptance Corp.'s March buy rate lease money factor and residual value for a 39-month lease of a 2013 Altima 3.5 SL Sedan with 15,000 miles per year are .00073 and 60% for consumers who qualify for its top credit tier.

    I don't think that Nissan is providing support on 39-month leases of this car right now.

    If you need to drive more than 15,000 miles per year, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Nissan is providing a $375 cash incentive on leases of '13 Altima Sedans in your area right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi scott182544. The selling price that you mentioned looks a little aggressive to me. I think that a price of dealer invoice minus any cash incentives plus a couple hundred dollars is a more realistic price.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • buffalo78buffalo78 Posts: 36
    Car_man,
    Thank you for the helpful information.
  • Final number ended up being 313.18 car loan and tax 24.90 . total payment 338.08 per month . .Sales tax my area went up to 7.95 2013. My bad... Dealerships started at 385 , then 366 , 354 , final 338.
    Contacted 4 Nissan dealerships and they competed against each other . Came down to the 2 highest volumn dealers in St. Louis . Fair deal ?
  • dirt4444dirt4444 Posts: 1
    36 month lease

    15,000 miles

    Msrp 26,930

    Selling price 24,369

    MF .00073

    $1,000 at inception which includes 1st payment, doc and MV fees

    Asking $289/ month ( which includes tax)

    Is this a fair price? A couple of calculators have it around $245.
  • charmaxcharmax Posts: 3
    Carman,

    I am trying to figure out the best option on a lease for a 2013 Altima 2.5 SL or 3.5 SL. I've tried to figure out the most current money factor and residuals looking at past posts, but have been unsuccessful. Would you provide the both for both the 2.5 SL and 3.5 SL with 12k and 15k miles over 36 months? Also curious if there are any current lease incentives, I'm in Illinois.

    Much appreciated!
    Mike
  • mdspinnermdspinner Posts: 14
    Interestingly enough, when its all said and done the 3.5 leases for almost exactly the same amount as the 2.5 even though it has a higher msrp due to the better residual.
  • ccguyccguy Posts: 5
    edited March 2013
    Carman,

    i have an offer for a 24 month lease on a 2013 Altima S $185/ month+ Tax (199 Total). $1000 Down

    MSRP : $23925
    Price : $20495
    Months : 24

    Miles : 12,000/yr
    Residual : $16508.25 (69%)
    Rate : .00073

    $185/ month + Tax for 23 months ($199 Total with tax). $1000 down (1000 down includes first month, TTL)

    i see a few posters being offered 245/ month with 0 down on an SV for 36 months.

    Carman, can you please tell me i am i getting a decent deal?

    thanks.
  • newguy24newguy24 Posts: 1
    Hey CCguy I was curious where you live and where you received this offer from?
  • ccguyccguy Posts: 5
    hi Newguy24,

    I live in Southern California. I got this offer from SurfcityNissan. I got the car home Wednesday.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome buffalo78.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Certainly Mike. NMAC's March buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima 2.5 SL with 15,000 miles per year are .00073 and 57% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a '13 Altima 3.5 SL are .00073 and 60%.

    I believe that the residual values for leases with 12,000 miles per year through NMAC are still 1% higher.

    Nissan is providing a $375 cash incentive on leases of this car in certain areas. This cash is probably available in Illinois.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rehab702rehab702 Posts: 14
    Finalized the deal on my wife's Altima

    Details:
    Altima SV
    Convenience Package
    Navigation
    Floor Mats
    MSRP: $27,375

    Lease:
    36 mo / 12k miles
    Selling Price: 24,648.00
    Acquisition Fee: 595.00
    1st payment and title charges rolled into lease: 399.89
    Adjusted Cap Cost: $25,642.89

    Residual = 60%
    Money Factor: 0.00073
    Money Down = $0

    Payment = $286.76 + 23.23 tax = $309.99

    This deal was done using the College Grad program.
  • zontozonto Posts: 1
    edited March 2013
    After requesting quotes from Internet sales managers and pitting them against each other as per the Edmunds.com new car buying guide, my wife and I signed for the following deal yesterday. We focused on getting the lowest payment we could, factoring in trade-in value of our 2002 VW and the portion of our tax return we dedicated for securing a new car while I still finish grad school.

    --------------------------------------------------------------------------------- ----------

    Dealer: Commonwealth Nissan in Lawrence, MA
    MA Sales Tax: 6.25%

    Car Details: 2013 Altima 2.5 SL with moonroof and mats
    MSRP: $29,435
    Edmunds.com TMV: $27,046
    Invoice according to Edmunds.com: $26,956
    Negotiated Price: $25,379 (including $790 destination fee)

    Cap Cost Reductions:
    $600 for recent college grad (within two years)
    $375 Nissan lease cash
    $2,500 trade-in negotiated value (TMV $2,800)
    $2,000 down (our choice)

    Other Fees/Costs:
    $595 acquisition fee
    $293 dealer doc fee
    $170 registration/safety sticker/etc.
    $290ish first month payment and sales tax on down payment rolled in
    $890 negotiated price from $1024 for Maintenance Plus
    - prepay all scheduled maintenance and unlimited tire repair
    - we have had horrible luck with nails/potholes and didn't want to have to worry about these costs until after I graduate

    Adjusted Capitalized Cost: $21,139 ($25,639 without trade and down payment)

    Lease Details:
    0.00073 money factor; set by Nissan for top two credit tiers
    36 month term
    12,000 mile annual limit
    $17,072 residual value calculated using 58% March figure from Nissan

    Payment:
    $169.36 + $10.59 sales tax = $179.95
    Without maintenance and roadside prepay it was $152 total

    --------------------------------------------------------------------------------- ----------

    Our finance guy was great and showed me the exact figures he was entering on his lease term sheet software as well as the packet of March money factors and residuals from Nissan. We achieved our goals of securing a good deal on a car we would want to own for 10 years, minimizing unplanned cost and uncertainty until I finish school, and plan on purchasing at the end of the lease term.

    Don't forget the $750 Edmunds.com promotion for buying/leasing a 2013 Altima! Valid until 4/11/13.
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