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Nissan Altima Lease Questions

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Comments

  • kyfdxkyfdx Posts: 27,666
    That's not a Nissan lease. I'd be very leery of any lease with a base of 15K miles over three years. Seems like you might be looking at a big gotcha at lease end.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I picked up a 2013 Nissan Altima SL w/ Tech package today in Columbus, OH. 36 months/12k miles per year. Here are the terms I agreed to:

    MSRP: 31,255.00
    Sale Price: 28,702.95
    Gross Cap Cost: 30,403.99
    Trade in Allowance: 1,571.97
    Adj. Cap Cost: 28,832.02
    Residual Value: 18,440.45

    Total Monthly Payment: 322.69

    Only out of pocket was first month's payment. I also got all scheduled maintenance included for the entirety of the lease. They increased my trade in value by about $250 rather than reducing my sales price in order to meet my monthly payment target, but I was fine with that. Overall, I was satisfied with the deal. So far, seems like a great car for the price. Hope this info helps any future buyers.
  • REF: 1799
    why did the gross cap cost go up so much? Only add should have been acq fee of 595 (or so). It went up much more than that...
  • $595 Acqisition Fee
    $727 Sales Tax
    $100 Title, License & Registration
    $279 Maintenance Contract (They claimed this needed to be itemized even though it was "included" in the lease. Guess they might have got me with this one... oops. Oh well, I'm still satisfied with the deal. It's a nice car).
  • pegasus17pegasus17 Posts: 536
    edited February 2013
    REF: 1801
    Don't you hate when dealers/finance guys do that? Sorry to point that out but it is still a good deal overall. BTW, scheduled mx for the first 36 months is probably limited to five oil changes and tire rotations. So essentially, you paid for those upfront, with interest. Enjoy your new ride!
  • gator2323gator2323 Posts: 3
    edited February 2013
    I am about to pull the trigger on this deal and wanted some input/thoughts. Thanks in advance for taking a look. This is my first post here, but I have been reading the forums for some time.

    2013 Altima 2.5 SL
    MSRP 28780
    36 month lease, 15k miles yearly
    $400 down
    $315 per month, tax included
    I live in Orlando Florida and the tax rate is 6.5%
    They are also paying the last payment of my 2010 Accord EXL which is an additional $325

    Unfortunately I do not have the MF, Residual% and/or sales price they are using as I know you folks typically like, but I figured I would take a shot to see what you all thought of this deal anyway.

    I was deciding between a new EXL or this vehicle and I couldn't get my Honda dealer down anywhere close to this. Plus I also signed up for the Edmunds/Nissan $750 gift card deal, so that is a bonus too.

    Thoughts? Again, sorry for not having more info at this time, I will post more if I get it.
  • that sounds like a great deal, what was the amount of your trade value? also if you find out can you let us know about the residual and the money factor? ps i was quoted 318 for a sv for 12k per 36mo.
  • Carman, can you update for Feb?

    Altima 2013: 2.5 sl and 3.5sl money factors and residuals for 36 or 39 months 12,000 miles a year. Based on my research, the 3.5 sl carries a better residual than the 2.5 which I find odd. In addition any cash/incentives in the Northeast for Feb? Would you predict a better program in March?

    Thanks!!!
  • Thanks for the reply!

    Ok, I did the deal and here are the final numbers:

    2013 Altima 2.5 SL
    MSRP 28780

    SALES PRICE: 26,053
    TOTAL GROSS CAP COST: 26,648
    RESIDUAL VALUE: 16,404.60
    MONEY FACTOR: .00072

    36 month lease, 15k miles yearly
    $400 total down from me/out of pocket (Amount due was $1275 = my $400 and $875 in rebates and non-case credits)
    $315 per month, tax included (6.5%, Orlando, FL)

    They cut me a check for $325 to cover my last payment on my current lease.

    I had no trade in and only paid the $400 with 35 more payments of $315

    I also just submitted my info for the Edmunds/Nissan $750 gift card deal

    I think that covers it. So far very pleased with the car!

    Let me know your thoughts.

    Thanks!
  • Hi all,
    Wanted to get your input on this offer and my calculations. I’m turning in a 2010 Altima at the end of a lease and exchanging it for a 2013 Altima 2.5 SL with Tech package. Told the dealer I’m putting nothing down, I want to drive in the old car and drive out the new one with no cost. Been leasing Alitmas for 12 years and this is the way I do it…
    36 Month lease.
    12,000 miles/year.
    Dealer’s offer was $375/month, including tax.

    My calculations:
    MSRP - $30,340
    Sale price - $27,979 (I’m using the Edmunds TMV here)
    Residual = 60% MSRP = $18,204
    MF = .00129
    Lease price = $352 (Using Edmunds calculator)

    If I include $100 for tax & registration, which is still a valid cost, and the $595 Acquisition Fee, then the lease price calculates to $374, which matches the dealers offer of $375. Since I believe they had to roll those costs in to their total, it seems fair that I do as well. But seems I've seen others on this site getting 2.5 SLs for $340 - $350 per month. If they are paying cash up front for Acq. Fee and Title/Reg., then that makes sense.

    Comments? Thanks for you help!!
  • I just got a 2013 2.5 SL WITHOUT the tech package.

    I paid $400 upfront and got $315 for remaining 35 months of lease with 15K miles. Plus they cut me a check for $325 for my last lease payment on my prior car.

    The finance guy told me they used a MF of .00072 on my deal. Not sure why there would be a difference or how they swung the deal (the closest another dealer in town was going to get was $330/mo with $700 down.
  • Wow, 63% residual, did mrsp you quoted include 790$ destination? In my dealings, dealer always maintained the MF and residual were fixed by Nissan, 58% for 36 mo./15k up in NY, maybe higher residual if you are in FL.

    Good deal regardless. I'm still working on mine.

    Carman, any thoughts on whether Nissan allows any negotiation on MF rate and/or residual?
  • Certainly mdspinner. Nissan Motor Acceptance Corp.'s February buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima 2.5 SL with 12,000 miles per year are .00072 and 61% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2013 Altima 3.5 SL are .00072 and 62%.

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

    In the Northeast, Nissan is providing a $375 cash incentive on leases of the '13 Altima Sedan.

    It's difficult to say what Nissan's March programs on the Altima will be like. I can tell you that there was no improvement in the Altima's programs from February to March last year, but...this is a different situation because the car was redesigned. Manufacturers usually try to cut way back on support on recently redesigned models when they are first introduced. The eventually have to ease back into it as the months progress. That's what seems to be happening with the '13 Altima. So it probably wouldn't hurt to wait if you're not in a hurry.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey mdspinner. Banks' residual values are usually essentially set in stone and cannot be negotiated. Vehicles' base money factors are set by banks, but dealers are allowed to mark them up from time to time. That's why it is important to find out what the buy rates are for the model that you are interested in prior to entering into negotiations.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • How did you get 63% residual? MSRP of $28,780 with residual of $16404 = 57% residual.
  • I have a deal offered:

    $24,801
    $279/mth
    .60 residual
    .00072 MF

    However, the dealer says he will use 2 vouchers to get the cap cost down enough to hit that monthly payment. But he wont tell me the final cap cost and I have no info on the vouchers. I may not qualify for those vouchers. Any advice on how to proceed?
  • pegasus17pegasus17 Posts: 536
    edited February 2013
    REF: 1813
    Interesting deal. Quite low for the SV. However, without FULL DISCLOSURE, i would walk. Plenty of other choices in this segment (Accord, Camry, Sonata).
    BTW, a better, attainable price is 24200
  • oliver75oliver75 Posts: 2
    edited February 2013
    2013 Altima 3.5SL w/technology 36mo 12,000 miles per yr. for $397.00, I pay $706.00 which includes 1st mo lease pmt. The $397.00 seems high since Acura quoted $400.00 on a new lease on a TL front wheel drive and their sticker price is higher. I have 1 mo left on my Acura TL with only 27,000 miles versus the 36,000 allocated on the lease (not sure that matters). Altima will pay last lease pmt on the TL. Can I do better on the Altima I live in Illinois.....thank you!
  • REF: 1815
    1. Have you considered trading the TL in if it has positive equity (value > payoff)?
    2. For that money, you can get the new Accord and still get a real tranny (not a CVT)

    http://pictures.dealer.com/v/vosshondaoh/1727/ac8044a50a0d02b701c6bbd3e20030ec.j- pg
  • Hi Car Man - uncertain on the deal presented to me can you read #1815 and let me know your thoughts? Would like another opinion,
This discussion has been closed.