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Nissan Altima Lease Questions

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  • czcon1czcon1 Posts: 22
    Narrowed it to the 2011 Altima sedan 3.5SR. Could use the money factor & residual % for 15K a year for 36 to 48 months. :shades:
  • Hi czcon1. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s January buy rate lease money factor and residual value for a 36 month lease of a 2011 Altima Sedan 3.5R with 15,000 miles per year are .00137 and 61%, respectively.

    The numbers for an otherwise identical 48 month lease are .00215 and 48%.

    As you can tell, the 36 month term is definitely the better deal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • czcon1czcon1 Posts: 22
    I was wondering, I just got all three credit reports and two credit scores and the scores say I'm above average but not the best. Will I still qualify for those rates? I just don'nt want to listen to someones BS about my credit.
    Thanks
  • Hi czcon1. One needs to have a credit score of 690 or higher to qualify for NMAC's best special rates. If your score is lower than that you will have to pay a slightly higher rate than the ones that I've mentioned.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • cg62cg62 Posts: 7
    Leased 2011 altima coupe 2.5s on January 30. Crimson black with CVT . sticker price $24,700 only options were blue tooth and floor mats. 39k miles 39 months. Due at signing first month payment and motor vehicle fees totaled $560. dealer is paying off my last 2 payments on my jetta Total $560. Net due at signing $0. My monthly payment on the Altima is $294. Seemed like a good deal. Hope this is helpful.
  • Coming out of a 2008 lease on 2/28/11 and looking to secure a new vehicle. I'm considering a 2011 Altima Sedan 3.5 SR. Can you please provide the current money factor and residuals for 36 and 39 mo leases at 20K miles/year?

    Is Nissan offering any cash incentives, bonuses, etc for Feb 2011?

    Thanks in advance.
  • tinkerbell2011tinkerbell2011 Posts: 6
    edited February 2011
    I have been negotiating with a couple of dealerships about a 2011 Altima 2.5S with SEP and mats thru TrueCar.com. I have the selling price of $21,419 (MSRP $23,755), residual of .60 ($14,253), money factor of .00097, 7% sales tax with a $1,500 loyalty rebate. Could someone figure my payments? Using the calculators online, the dealership has it figured $30-40 more than I have it figured. I've asked for all "hidden" added costs. He just told me the acquisition fee wasn't included although it is on TrueCar. When I use the calculator for the Kia Optima with the numbers from the dealerships, I come out just a few dollars off. I cannot understand why it doesn't with the Altima.

    Thanks!
  • Here's the information that you're looking for jeep097.

    NMAC's February 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 .00097 and 61%, respectively.

    The numbers for an otherwise identical 39 month lease are .00097 and 60%.

    15,000 miles per year is the highest mileage allowance that NMAC publishes residual values for. If you need to drive more than that, 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 currently providing a $1,500 loyalty cash incentive on leases of the 2011 Altima Sedan to current NMAC lessees. Make sure to take this cash into account during your negotiations.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi tinkerbell2011. Using the numbers that you provided in your post, I come up with a zero down, pre-tax monthly payment of around $234 before the loyalty cash is taken into account. If I subtract the $1,500 from this car's capitalized cost, the payment drops to around $191.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks Car_man. I have two different Nissan dealerships quoting me about $237 with the rebate. I keep telling them it looks like I'm not getting credit for it. When I run the numbers for the Optima, I'm almost to the penny.
  • Car_man, may I ask what you are using to get the payment? I'm sure they are going to ask me. I just sent them my spreadsheet along with email from Kia with their numbers verifying I'm almost right on with their payment.
  • I ended up getting the Altima for $217/mo, no money down, which included 7% sales tax. It was about $6/mo more than I figured, but I felt it was close enough. They added me to the Gold Membership, whatever the heck that is, with some free stuff. Told me I wouldn't have a disposition fee on the old or new car because of "the" membership. I've never heard of it, so I'm not sure if it was just a gimmick or not. I know it includes free wiper blades for life (39mos ;), an oil change (not sure if it was just one or more), free rental car (which I've always gotten) for service, and some other things. They liked the spreadsheet I sent them which I made and said I was one of the most well- educated customers they had seen. Thanks to the internet :)
  • Thanks, Car_man. I will factor in the extra mileage above 15,000 myself - and understand the benefit of doing so up-front vs. at lease-end. However, will the additional miles change the residual value, and if so, is there a way to calculate that myself?

    Re: the $1500 loyalty cash incentives to current NMAC lessees - I am not currently with Nissan, so does this apply to my situation? (i.e. - will that $1500 be negotiable with the dealer or is that strictly from Nissan, only for NMAC lessees of record?)

    Appreciate all the info and advice - great forum!
  • Car_man : forgot to add the following to my last post - as a fall-back alternative I am also considering a 2011 Honda Accord EX-L V6. Same question as per the Altima - can you please provide the current money factor and residuals for 36 and 39 mo leases at 20K miles/year? (If not 20K, whatever the max is).

    Similarly, are there any Honda cash incentives for Feb 2011?

    Thanks for all your insights.
  • Hi Car_Man. I've been following your posts and information for a while and appreciate all the help you've given me.

    I just got a 2011 Altima 2.5 S, Convenience Plus, Blue tooth, Aluminum Kickplates and splashguards (MSRP 25,870). I paid tax, tags and fees plus 1st month up front, and my payments are $189 for 39 months, with 15K a year and free service.

    The dealer took care of my current nissan lease with three months left on it, and I got the full 1500 lease loyalty in the deal. I know the MF was .00097 and the resid. was 59%.

    I trying to figure out if I could have gotten lower, since the best True Car quotes (without incentives) seem to be about $1000 less than the prerebate price I paid.
  • Sounds like you got a heck of a deal! I just purchase same Altima with SE package, mats, splash guards, $0 down, first payment and payments are $219 with 12k/yr, 39 mos, $1,500 loyalty rebate, .00097 money factor & .60 residual. I thought I did well... Just noticed they are running an extra bonus rebate of $500 for Presidents Day sale. Wished I'd waited a couple days. What was your selling price (without rebate) and extra fees? Dealer price is listed at about $23,370 on the car you purchased.
  • Hi Tinerbell:

    The sales price pre-rebate was $22,819 (only consumer rebate was the $1500). Fees were 595 acquisition, 398 processing, 63.5 for tags. Tax in my state is about 3% of purchase price, but no tax on payments.

    I don't understand where TrueCar.com come is getting their Best Prices from though, I remove the incentives when I'm trying to get a price certficate, but maybe they are still putting in these president's day specials.
  • My $217 included 7% sales tax of about $14. I'm a bit ticked off as I just saw on the Nissan website there is a $500 lease bonus rebate from 2/4/11-2/28/11 as well as a $500 holiday bonus rebate for weekend for Indiana. You may want to ask about those as well. I'm contacting my sales guy to see why I didn't get the extra $500 rebate on top of the loyalty rebate. I don't know if there are any restrictions on using all of the above together. Let me know what you find out about using all of the above when you talk with your dealer.

    My Altima - selling price of $21,670.80 with $796.25 dealer fees. Our sales tax paid with monthly payment only.
  • Just purchased a 2.5SL yesterday with conv, conv plus, SL package, plates-mats-splash
    MSRP 27,150
    Agreed Upon Value 23,370
    Adj Cap Cost 23,734
    Res Value 16,278
    Acq Fee 595
    Up Front Tax 636.13
    Prez Day Rebate 500
    Down Payment 1,000
    Monthly Payment 227
    Purchased the GAP coverage for 3 a month bringing total payment to 230

    Good deal? Is the GAP coverage a good purchase or a scam?
    The 60% residual and .00097 money factor look accurate.
  • Car man! How are you? You have helped me get the numbers right in the past years for a 350z and a Sentra! And now I need your help
    Once again!
    My girlfriend received a call today for a "promotion"
    To turn her sentra in a year early and get another lease no money down before Sunday. We are considering passing by but I want to go prepared as always!
    If you have a chance can you please tell me the money factor and residual % on a 2011 altima 2.5 36 mon 15k miles! And the same for a 2.5s same specs?
    Thanks for your help! You are the best!

    Rob
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