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Nissan Altima Lease Questions

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Comments

  • 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.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome charmax.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • charmaxcharmax Posts: 3
    Do money factors and residuals typically change on a month to month basis? If so, would you know the April rates corresponding to my lease question above. You've been very helpful. Thanks!
  • What kind of lease payment can i expect on a 3.5 sl with tech package, say, with about $1,000 down?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Good question charmax. Some manufacturers do change their lease programs on nearly a monthly basis. Others keep them fairly consistent for a couple of months at a time. Nissan always publishes a new program every single month. Some times its money factors and residuals change and some times they don't. Not a very specific answer, but that's how they do it :).

    The April numbers for the models that you are interested in are exactly the same as they were in March.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bigbeard86. Let me know what the MSRP and dealer invoice price of the exact car that you are interested in are (you can look up that data here New Vehicle Pricing) and I'll be glad to use Nissan's current lease program to work up a payment on it for you.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • gs42gs42 Posts: 54
    We have leased two Nissan Maximas and these forums have been very valuable as far as what to pay, what to be aware of, etc.

    We are considering an Altima next time around..but...looking at the lease prices for a 3.5 SV, it appears that the Maxima can be leased for the same amount or less due to higher incentives. Is that a correct observation, CarMan? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey gs42. I'm glad that you've found the forums so helpful in the past. Let's keep it going.

    The last time I helped a friend lease a Nissan we found that the payment for an Altima and a Maxima were actually so close that it didn't make sense to go with an Altima V6. Of course the programs changed from month to month and that was a while ago.

    If you provide me with the MSRPs and selling prices, or at least the MSRPs and dealer invoice prices (you can find that info here) of the cars you are considering I can use Nissan's actual lease program to work up payments on them for you so we can see just how much of a difference there is.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dereka3dereka3 Posts: 1
    I'm glad I ran into this forum on a random search. I am thinking about leasing an Altima 3.5 SV with a MSRP of $29,555. It is through the College Grad Program, and the MSRP is down to $27,066. My credit is good, well over 700.

    The deal they offered is no money down (I also have no trade-in) and payments of $328 WITH the care maintenance package. I was glad to get 3 yrs. / 15k miles per. Also, randomly got a paid first month (not deferred but paid) and tinted windows. Thanks for advice on the Altima! Secondly, is there any possibility to get a similar lease for a new Maxima too? In actuality I could afford up to $475 / mo. if it was an option currently. Thanks again.
  • Hi Car_man, I was looking to Lease a 2.5 SL. MSRP is $28,400 with an invoice of $25,959, being offered at $24,659. How much is the monthly payment I would be looking at with $0 down? Credit is high 700's. Thank you!
  • gs42gs42 Posts: 54
    Thank you for the reply. It will be next year before the term is up on the current lease...just peeking ahead. We took advantage of the loyalty cash and pull ahead program the last time we leased. Hoping that is in play next year also.
This discussion has been closed.