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Nissan Altima Lease Questions

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  • drewdibdrewdib Posts: 1
    I leased a new Altima 3.5SL yesterday and feel like I got a great deal. Car is the top model with the added Technology Package, splash guards, underbody lighting, and floormats. MSRP of $33,030.

    36 month lease, w/ 12K miles per year, and $0 due at signing, and $595 acquisition fee. Payment is $364 per month (higher because of TX treatment of sales taxes on leases). First payment was included, so I only make 35 payments.

    Lease worked out to 60% Residual and .00016 money factor. Very pleased.
  • jennyl5jennyl5 Posts: 2
    Hi drewdib, Do you mind sharing the name of the dealership you got your deal at and where in Texas it's located? Thanks!
  • rj44rj44 Posts: 8
    edited May 2013
    Looking at 36 mo 15,000 miles/year lease for an Altima 2.5 S

    I was offered $228.00/mo with $1,000 down which includes 1st month lease payment. Price includes tax, fees, registration.

    Vehicle price $20,500
    Residual $14,268
    MF .00103

    They also offered me $7500 for a 2007 Altima S with 98,000 miles.

    Can anyone tell me if this is a good deal?? Thanks!
  • rj44rj44 Posts: 8
    edited May 2013
    Car_man

    Can you please let me know if the lease offer is good deal? Thanks!
  • badacepmbadacepm Posts: 3
    edited May 2013
    Waaay better than the deal I was offered with D plan in the Ann Arbor area:
    3.5SL w/ tech pkg and Nav pkg, 36mo lease, 12k miles/yr
    $390/month, $650 at delivery, .0011 money factor
  • emc17emc17 Posts: 26
    Mr. Car man: my 2010 Altima lease is expiring soon and I am considering a 2013 Altima 2.5 sl with tech package. I have an excellent credit score and I am a loyal Nissan customer. The vehicle MSRP is $31.065.
    What do you think my payment should be on a 36 month lease with 0 down.
    Thanks for your help!
  • jaysmizzjaysmizz Posts: 1
    I am trading in 2010 Altima SL 9 months before lease is up. After leaving they called me and offered me a 2013 Altima SL for $3000 down and I'll pay $305 per month. I currently pay $247 per month on my 2010. Should I wait till my lease is up and hope to get a better deal? Or is this a good deal? Both cars have everything but navigation. Thank in advance for your help
  • badacepmbadacepm Posts: 3
    Honestly after shopping around, the best deal I could get with a C/D plan was $375mo with 0 down, 12k/yr, 36months for a 3.5SL with tech.

    I then walked into a Lincoln dealership and they gave me 429/mo, 0 down on 24mo lease for a new MKZ. It includes all maintenance and free vehicle usage for any maint. So we went with the MKZ.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rj44. The money factor that you were quoted is correct. It's difficult for me to evaluate the selling price of this car without knowing its MSRP though. Do you have that number?

    If you haven't finalized the deal yet, you might be interested in the fact that Nissan introduced $500 bonus cash on this car for the Memorial Day weekend.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi emc17. This car has a spread of around $2,500 between its full MSRP and its dealer invoice price. There's a $375 cash incentive on leases of this car in certain areas. Since I don't know if you are in one of them I will not include it on this deal. I will however include the $500 Memorial Day bonus cash.

    According to my calculations, if you were to lease a 2013 Altima Sedan 2.5 SL that has an MSRP of $31,065 and a selling price of $28,565 through Nissan Motor Acceptance Corp. right now for 36-months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $336.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jaysmizz. You definitely would be better off waiting until you are closer to the scheduled end of your current lease to get something new.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • rj44rj44 Posts: 8
    edited May 2013
    Car_Man I posted this a few days ago. Can you tell me if this is a good lease? Thanks

    Looking at 36 mo 15,000 miles/year lease for an Altima 2.5 S

    I was offered $228.00/mo with $1,000 down which includes 1st month lease payment. Price includes tax, fees, registration.

    Vehicle price $20,500
    Residual $14,268
    MF .00103

    They also offered me $7500 for my 2007 Altima S with 98,000 miles.

    Can anyone tell me if this is a good deal?? Thanks!
  • max2k10max2k10 Posts: 2
    Car_man is this a good deal. Dealer in NJ offering my daughter an Altima 3.5SV with spoiler, mats, splash guard and something else for $1700 total out of pocket and $308 a month. She is trading in her Civic lease and they are rolling the remaining $800 into her new lease. She qualified for tier 1 and money factor was . 00033 and residual 60%. I don't know the purchase price as this was a last minute deal and are suppose to go sign and pickup tomorrow Memorial Day. Please let me know what you all think. Definitely value your opinions and expertise.
  • i bought a 2013 altima last august. I am in the market again for my kid. so does anyone know when the 2014 comes out. ? any release date given on any site.

    thanks.
  • steen013altimasteen013altima Posts: 34
    edited May 2013
    2013 altima 2.5S

    MSRP 24,105

    Invoice 22,236

    dealer price 18,441

    I believe this to be a real good price , it also includes freight.

    A few QUESTIONs. -

    1- I know that msrp is the actual sticker on the car, but what does "Invoice" price mean ?

    2- Is "freight" the same thing as "destination"charge ?
  • Im looking for the best price, and it does not make a difference where the dealer is.

    I have no problem shipping a car, basically you can ship a car within the same region, like north east to south east , or from colordao to PA as an example, cost is approx 800-1000 (you can get it less, but if you want a carrier to pick it up, you have to offer more, auto carriers work like an ebay sytem, highest prices for a route get picked up first.

    now that thats a given. so even with that premium on the car, Ill figure it later. does anyone know of a dealer with the best prices.

    ive found a dealer in MD called fitzmall with some low prices, like selling at 80% of msrp, does anyone have a dealer, automall that is comparable or Better (even in florida) ?

    PS- even with the premium of shipping its cheaper than buying where I am in florida.

    thanks anyone in advance.
  • carguy144carguy144 Posts: 6
    That seems really high, payment should be low to mid $100s.

    It seems like you all are getting quoted crazy payments on an Altima.

    I leased a Maxima SV with cold and monitor (everything except nav, awesome Bose stereo) which stickered at $39,500, negotiated $31,000. My lease was $0 out of pocket except first mo payment and registration fee of $100, payment is $285 a mo plus tax ($299 total).

    Based on my numbers your Altima lease should be more like $135 a mo. Think about it, why would you pay $228 a mo, thats half the vehicles value over 36 mo. Unless the buyout is $8000 its not a good deal.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rj44. I already replied to your previous post here:

    http://townhall-talk.edmunds.com/direct/view/.ef9dd85/1907#MSG1907

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks max2k10. The money factor that you mentioned is perfect. It's difficult for me to give you a detailed analysis of this deal without knowing what the MSRP or purchase price were, but I can tell you that $308 per month for a V6 Altima with negative equity rolled in looks reasonable to me.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi steen013altima. The simple definition of dealer invoice is that it's the price that the dealer pays for the car. Before everyone jumps on me, I realize that there's lots of credits and charges that appear on top of invoice. On a high volume vehicle like the Nissan Altima, I always base the selling price that I offer upon a couple hundred dollars over invoice minus any available cash incentives.

    Freight is indeed the same thing as the destination charge. It is essentially part of the vehicle's price because everyone pays it. I always find it silly and deceptive that manufacturers break out destination.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • max2k10max2k10 Posts: 2
    We actually picked up the car yesterday. Total out of pocket was $973 and $299 monthly payments including tax for 36 month and 12k a year.
  • rj44rj44 Posts: 8
    Hi Car_man. The MSRP is $23,780.
  • rj44rj44 Posts: 8
    Carguy144 sounds like you got a great deal.

    Can you please post your money factor, residual and MSRP of the car?

    Thanks
  • steen013altimasteen013altima Posts: 34
    edited May 2013
    whats the lease payment, I have 800+ credit score (tier one ) and heres the price of the car, I do not want to put any money down. (ill pay tax, title, registration out of pocket)
    heres the car..

    2013 altima 2.5S

    MSRP 24,105

    dealer price 18,441 (the price I am buying it at)

    whatever the money factor is at tier one, I will get (anyone know what it is now. I was told .00103 (equates to about 2.5%)

    and the lease is for 39 months 12K miles (so no extra charge for mileage to be added in).

    and residual value is i believe 60% of msrp = 14463

    and I know whatever the figure is (rental plus interest) it is plus tax, but i can do that.

    thanks in advance.

    can anyone figure it , i always get messed up.

    thanks.

    ps- thank you car guy for your above answer #1919 to my post #1914.
  • steen013altimasteen013altima Posts: 34
    edited May 2013
    car guy how do you figure a payment of 135 mo.

    i figured it this way with rj44 numbers.

    depreciation or rental fee is price (adjusted cap cost) 20500 - residual value of 14268 / 36 = this equals 173

    the finance fee is ..adj cap cost (price) 20500 x money factor of .00103 = 21

    173 +21 = lease price of 194.

    this is on a std 36 month lease with a 12k mileage, there is a premium for 3K more per year (15K) so the figure of 228 seems to be accurate.

    but carguy, I like to learn, how do you figure it to be 135.

    how do you calculate 135 mo.
  • if your getting .00033 mnoney factor,,grab it,,,thats less than one percent .00033 x 2400 =0.79%.

    I spoke to a few nissan delaer and money facotr for tier 1 was .00103 (which is 2.47%. so if that number is real, grab it. no negotiate your price (adjusted cap cost ) and number fit in the formula.

    all I can say is wow .00033 .79%
  • this is where I always get mixed up.

    when figuring a lease do you use the price you pay for the car (adjusted cap cost) or Msrp.

    the formula I have is to use the adjusted cap cost when figuring the rental fee and the finance fee. and the msrp does not get used in the formula.

    of course money factor is used when multiplying with adjusted cap cost to figure monthly finance fee....and residual value is used and subtracted from adjusted cap cost before dividing by number of months to achieve rental or depreciation fee. add up the two fees and you have a lease payment.

    rental fee = adj. cap cost - resid value / # months in lease.
    finance fee = adj. cap cost x money factor.

    add two figures together = lease payment before monthly sales tax.

    anyone do it another way or same way,

    thanks,
    steen.
  • kyfdxkyfdx Posts: 28,434
    edited May 2013
    The MSRP is used to calculate the residual..

    Residual = MSRP X (residual percentage)

    After the residual amount is determined, then the MSRP is not used again in the formula..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • carguy144carguy144 Posts: 6
    $31,000 car vs $19,000 car, I dont know, seems way too high to me. When it comes to leasing I go for best bang for the buck, regardless of make or model. If youre gonna get an Altima at $250~ a month, you might as well buy and not lease.

    With the low rates you could purcase an Altima for not much more than leasing
  • rj44rj44 Posts: 8
    $19,000 financed for 60 months at 3% plus sales tax would cost you about $370/mo. Quite a big difference compared to $228 for 36 mo lease.
This discussion has been closed.