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Nissan Altima Lease Questions

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  • Hi misslau. NMAC's current buy rate lease money factor and residual value for a 39-month lease of a 2012 Altima Sedan 3.5 SR with 12,000 miles per year are .00021 and 56%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • Hi jd00510. The money factor that you were quoted is right on the money. Dealers do not have the authority to alter banks' published residual values.

    Car_man
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  • Greetings rman850r. NMAC's December buy rate lease money factor and residual value for a 24-month lease of a 2012 Altima Sedan 2.5 S with 15,000 miles per year are .00003 and 65%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2012 Altima Sedan 3.5 SR are .00003 and 64%.

    Nissan is currently providing a $500 cash incentive on leases of this car.

    Car_man
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  • otoluvaotoluva Posts: 138
    carman, I have negotiated a selling price of $18000 on a 12 Altima 2.5S with MSRP $24100, I'm having trouble using the lease calculator, can you please help me with a payment sample based on the following:
    3 yr/36000k miles and 0 down.
    Thank you
  • torotorotorotoro Posts: 8
    edited December 2011
    Hello Car Man:

    I am considering leasing an Altima 3.5S for 39 months/12K miles and want to know if I can expect the same money factor and residual values you provided recently ( .00021 and 56%) if I want to order a specific color combination. This would be without any packages or other options. Assume a top tier credit rating. Thanks.
  • As a follow up to my post directly above: will a 10K mile as opposed to a 12k allowance alter any of the factors?

    Again, I'm assuming that I would have to order the car because I haven't seen the configuration I want in any dealers inventory.

    Thanks much.
  • cmyawncmyawn Posts: 36
    Hello Car_man,

    Can you tell me:

    * What is the January 2012 residual percentage and money factor for a 21012 Altima Sedan, S w/ SL package, 3 years, 12,000 miles per year?

    * Is there an up-front acquisition fee (looks like $595)?

    * Is there a lease-end disposition fee (looks like $395 if you turn it in, or $300 if you buy it in most states)?

    * What rebates/incentives are available for these leases (looks like maybe $825)?

    These leasing fees are getting to be a pain...like airline or bank fees. But the money factors are great!
  • I'd be happy to help you out, otoluva. According to my calculations, if you were to lease a 2012 Nissan Altima 2.5S Sedan that has an MSRP of $24,100 and a selling price of $18,000 through Nissan Motor Acceptance Corp. right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $145.

    Car_man
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  • Hello torotoro. The color of your vehicle would not have any impact upon its lease program, assuming that its trim level is the same.

    Car_man
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  • Hey torotoro. Dropping from 12,000 miles per year to 10,000 typically raises vehicles' residual values by 1%.

    Car_man
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  • Here's the information that you're looking for cmyawn. Nissan Motor Acceptance Corp.'s January buy rate lease money factor and residual value for a 36-month lease of a 2012 Altima Sedan S with 12,000 miles per year are .00040 and 55%, respectively for consumers who qualify for its top credit tier.

    Yes, NMAC does indeed charge an acquisition fee of $595 on every vehicle that it leases. You can either pay this charge at lease-ending or roll it into your car's capitalized cost to bake it into your monthly payment.

    Many banks charge disposition fees as well, but I'm not sure about NMAC. The charges that you mentioned sound about right.

    The cash incentive that is available on leases of this car varies by region. There is an $825 cash allowance on leases of it in certain parts of the country right now.

    Car_man
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  • Thanks for the reply Car-Man.

    My question was not specifically about the effect of the color, but rather if a car is ordered from the factory as opposed to being in inventory or located. I'm assuming I wouldn't be able to negotiate as good a price, but I wanted to know if the lease factors would be the same when the car is delivered.

    Better yet could the lease costs be set when the car is ordered, or is it necessary to do so?

    Thanks again.
  • cmyawncmyawn Posts: 36
    I currently lease a 2009 Altima, which is due to be turned in on February 1. I just got off the phone w/ NMAC; the rep indicated that if I lease/finance a new Nissan or Infiniti thru NMAC, they will waive the $395 disposition fee I would normally owe on the 2009 Altima. Also, she stated that I have a 10-day grace period on the turn-in date, so even though I am supposed to turn my 2009 Altima in on 2/1/2012, I have until 2/11/2012. It might be good to see what the "Presidents Day" incentives are in February, and to see what the new money factors and residuals are. Though right now I am seeing a total of $1325 in rebates ($825 lease and $500 lease loyalty), along with great money factors and residuals (0.00003, 64% on 24 mo, 12K miles per year; 0.0004, 55% on 36 mo, 12K miles/year). So the deals look pretty good...but if I had been more patient in 2009, the Presidents Day incentives would have saved me another $1000. And the dealers are (without any negotiations) talking $2800 and more off MSRP, then subtracting the rebates. How much better should I shoot for? I am looking at a 2.5S w/ SL, all the packages except technology, including carpet mats, splash guards (MSRP $28680 including $760 dest/handling)...and I will have them add dealer-installed fog lights. The best dealer is at MSRP, $28850 (it also has the kickplates already added), sales price $26000, free fog lights added, then taking $1325 off in rebates for a total of $24675

    Has anyone else experienced this waiver of disposition fee and the grace period for the turn-in?

    Does the lease pricing I am seeing look good? How much should I push for?
  • Ahhh, I see torotoro. The lease program would be the same for an ordered car or one being located at another dealer...as long as you take delivery before the end of the program period. Which in this case would be January 31st.

    Some manufacturers allow consumers to lock in the lease program that was available when they ordered their vehicle, but I am not sure if Nissan is one of them.

    Car_man
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  • I think that waiting would be a very good move, cmyawn. Nissan does usually run some sort of President's Day special. I wouldn't be surprised in the least if they put at least another $500 on top of the current offers out there on the Altima for President's Day weekend.

    If I was in the market for an Altima right now, I personally would shoot for a selling price of fairly close to dealer invoice minus all of the available cash incentives. You can look up the invoice price of the exact car that you are interested in over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • cmyawncmyawn Posts: 36
    Thanks Car_man. I am currently seeing 2 dealers $400-$500 under invoice before further reducing the price by $1325 for the two rebates ($825 lease, $500 loyalty). But that was for units on their lots, and I am about to throw a wrench into the process by requesting a specific color (Tuscan Sun, Blond Leather) with the technology package. I've found a couple of them within 500 miles, but I am going to let my local dealers try and find one for me, and see how their pricing looks for a vehicle not on their lot. I am not in a huge hurry.
  • rflangrflang Posts: 8
    Hi Carman! Could you please post the residuals and money factor for a 24 month lease on an Altima S sedan? I am looking at either 12k or 15/year. Thank you for all the information you provide!
  • Maybe a dumb question but I want to make sure the price I offer is reasonable and that my calculations are as accurate as possible assuming I will have to recalculate my payment estimate or check the dealer's numbers at the dealership.

    Let's assume that I want to offer 3% over invoice.

    Should I deduct only the dealer hold-back or both the hold-back and any applicable incentives before adding the 3%?

    Or, should the 3% be added to the invoice then apply the reductions?

    Also, in the interest of being reasonable, should the destination and advertising fees be added to the result of any of above calculations when making an offer ?

    Although the difference may not be very significant on a $23,000 car, I want to be sure to eliminate as much a confusion as possible when we get down to brass tacks. TIA!
  • dbwcdbwc Posts: 3
    Hey Carman,
    Could you please post the current residual and money factor for the lease of a 2012 Nissan Altima 2.5S with 15,000 miles per year?

    Additionally, I can see from Edmunds that there is currently an $825 lease incentive on the car, but can anyone confirm the $500 loyalty rebate that is available? My company currently is leasing two Nissans, and our '09 Altima is up next month and I don't think we've seen anything from Nissan regarding a pull-ahead program or lease loyalty cash... Although today I did receive an e-mail from the dealer we leased our vehicles from that there is currently $500 Weekend Bonus Cash available. If all these hold true, is it possible that I can get $1,825 in rebates currently?
    Thanks for your help!
  • cmyawncmyawn Posts: 36
    edited January 2012
    I am due to pick up my 2012 Altima tomorrow, loaded 2.5S w/ SL, Tech, Conv, Conv+, Premium Audio, Spoiler, Splash Guards, Fog Lights, Floor/Trunk Mats, MSRP = 31,140. Black w/ blond leather. Sales price, $28,096 (quoted as $800 below invoice, and based upon truecar that appears true. $825 lease rebate, $500 loyalty rebate, $500 MLK weekend rebate all applied to take the total sales price to $26,271, based upon the paperwork emailed to me. Up-front costs are a total of $823.21, including doc, tags, first payment, and some taxes (dealer wants to charge $68 in taxes on the tags/doc fees and the incentives, does not seem right to me. NC tax, 3%). Payments are $275.17 plus $8.26 3% NC tax for a total of 283.43. 39 month lease, 12,000 miles per year. $595 acquisition fee rolled into the lease. I was going to lease for 36 months, but the dealer pointed out that going to 39 months saved about $14 a month, and that Nissan was offering early outs on their leases (they did offer that to me in September, for my 2009 Altima that I will turn in tomorrow). So I went for 39 months.

    My 2009 was pretty loaded, but did not have tech, and I am lowering my payment by over $50 a month! The incentives and great money factors were far better than in 2009. AND by leasing another Nissan, NMAC will waive the $395 disposition fee on my 2009 Altima.

    Wish me luck on the pick-up tomorrow.
This discussion has been closed.