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Nissan Altima Lease Questions

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  • Okay I feel like I never do these things right and somehow end up paying more than I should. Having been on these forums for a while I thought I'd ask for some input.

    We are looking at leasing a 2013 Altima SV 2.5
    The numbers I am getting are:
    Vehicle price: I don't know this
    Down payment; $2499
    Monthly payment; $229.85 x 36 months
    12K/year
    $15,591 final buy out price at the end.

    Does this seem reasonable? Our credit scores are above 775 for what that's worth.
    My own calculation show a total cost of $26,364.60 for a car that invoices at $23,379. Seems a little high which is why I am asking.

    Thanks for any help you can provide.
    CommOfficer
  • ab0785ab0785 Posts: 2
    I'm looking to pick up a new Altima - the lease on my current Altima matures in August (2010 2.5 w/convenience +tech).

    Dealer gave me a price for a 2.5SL $315/mo, $0down + taxes.
    36 or 39mo 12kmiles/year
    This includes 500 loyalty, 500 nmac, 375 nmac.
    Disposition fee waived, 500 damage allowance, bank fee/acquisition waived.
    All remaining payments on current vehicle are waived.
    Only DMV fees and first month at signing.

    Also will be able to take advantage of additional $500 for college grad program.
    And he stated for navi/tech package it will be about another $15/month.

    Altogether, including the college grad cash my calculations come out to be $300/mo w/out tech and $315 w/tech plus taxes.

    This quote he gave me at the end of March - I told him I'll wait since I had time- dealer called me back in April and said that he could beat that price by another $10 for the month of April.

    My hesitance is whether or not to wait until May where Memorial day may offer an extra incentive. Their current incentives (500+500+375) are set to expire in April, and although they usually do renew these incentives, there's no guarantee - do I go ahead and aim to get it this month or take the risk and wait to see what May has to offer?? I do have time on my side, but I'm not looking to push this much further.

    If necessary - the numbers he had were:
    57% residual
    .00073 MF
    Negotiated cost 27816-1375.

    (Off topic, but he was also offering 3.5SL for $332/mo $0down, same deal)

    Thanks!
  • Hi Car_Man!

    Just leased a 2013 Altima 3.5 SL yesterday. :) Tell me how I did!

    Options include:
    Technology Package
    Rear Spoiler
    External Ground Lighting
    Carpet Floor & Trunk Mats
    Splash Guards

    MSRP $33,425.00
    Invoice $30,754.00

    Final Cap Cost: $29229.87, which includes the following:

    -Negotiated Price (Not sure what this ended up being because they switched to "Out The Door" figures after I got frustrated with some of the clouding of the figures.)
    -Dealer Fee $689
    -Tag/Other Fees

    Money Factor: 0.00073
    Residual Value: 60%

    Bottom Line:

    36 months/15,000 miles per year
    $348.64 per month with ONLY 1st payment due at signing.

    You've been a great help behind the scenes on multiple car threads as I shopped around!

    Thanks,

    Alex
  • dt12181984dt12181984 Posts: 3
    edited April 2013
    Hey Carman!

    I just leased a 2013 Nissan Altima 2.5 SL Edition. Here is the breakdown:

    Car trade in (valued around $3,000)
    298 per month, 36 months, 12k per year
    0 money down, no 1st month payment, no fees to pay
    Wheel Locks included

    Did I get a good, decent, or bad deal? The car I traded in wasn't in great shape.
    PLMK.

    Thanks.
    Dan
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi usmctblzr. Let's work up a payment and see what we come up with.

    According to my calculations, if you were to lease a 2013 Nissan Altima Sedan 2.5 SL that has an MSRP of $28,400 and a selling price of $24,659 (which is great BTW) through NMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $266 assuming that you qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi commofficer. Make sure you find out the exact selling price that you are being charged for the car that you want before agreeing to lease it. In an area that has a decent level of competition, you would be able to lease a Nissan Altima at pretty close to dealer invoice.

    I see that you are considering making a $2,500 down payment on your lease. I always advise consumers not to make any capitalized cost reduction on leased vehicles. Consumers who put a lot of money down on leases risk losing part or all of the money that they laid out if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, it's much safer to go with a zero down lease.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Alex. The money factor and selling price for this car look excellent. In my opinion you definitely got a good deal on this car. Enjoy your new ride :).

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Dan. Do you happen to know what this car's selling price is? That would make it easier for me to evaluate this deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • The price was $27,500 after all incentives.

    I didnt pay for anything- no taxes, no registration, etc. Didnt lay out a single penny.

    Only gave them $3,000 trade-in, Lease 12k miles/36 months, $298 per month

    How did I do?
  • pstone05pstone05 Posts: 1
    I've been following the forum for a while and I'm finally ready to go out and get a new Altima. I'm looking at a 3.5SL with Tech Package. Just curious if anyone has what the May money factors and residuals are for 24 and 36 month leases.

    The best initial offer I had for a 36 month lease in April was:
    -Net cap cost is $31095 ($30500 cap cost, $595 acquisition fee)
    -Residual is $19905
    -Money factor is .00073
    -MSRP is $33175

    Fees due at the beginning are:
    $1314 due ($379 - first payment, $535 - first year license plates, $400 - doc fee)

    Much appreciated,
    Paul
  • suv800suv800 Posts: 40
    I just got a quote last weekend for a 2013 Altima SV 2.5L $302.00 includes NYC tax, plus DMV. So your price of $298 with your $3000 trade-in is like $382.00 per month, seems kinda high.
    I am still not taking it yet because I saw Nissan's news reducing the selling cost from 585-4000
  • suv800suv800 Posts: 40
    Hi pstone05,
    According to your msrp and selling price, your monthly lease should be at $321.15 plus sales tax.
    OTD should be $321.15 + tax + DMV & fees ($230.00)
  • commofficercommofficer Posts: 50
    I wanted to follow up on my post and your reply for the sake of others out on the market. Unfortunately I leased the car before your reply but there is some humor in that. The reason I was getting this car was that my wife's 2011 Hyundai Elantra was totaled and it was a lease but we didn't put any money down on that one. The payout we received for that car paid the loan off and almost returned all the money we had put into it. Basically we haven't had to hit any of our own money for the new car or the down payment so I am looking at it as a no loss no gain situation except she gets a bigger car and the payment went down per month. Sure it isn't great logic but I am over looking that part for now.
    Anyway the Altima deal. (36mo/12K year) 2013 Altima 2.5 SV Black with tan interior, puddle lights, floor mats, trunk sub-floor organizer with first aid kit and splash guards. MSRP 26,000 Price paid $23,474. $2500 down +Tag, Title and License of $915.
    36 Monthly payments of $204 with residual of $15,600 at the end of the lease.

    Seems pretty good on my end but what are your thoughts?
    Thanks again
  • dt12181984dt12181984 Posts: 3
    The SL I leased was fully loaded with everything. The SL retails for around $31k so the lease would be higher than the SV., The $298 included everything, I didnt lay out a penny. I thought it was a good deal since my trade-in had alot of issues and I doubt it was worth $3k. They originally offered $2k and a higher lease offer then countered back with $298 per month and they upped the value of the trade in, I guestimated it was around $2,500-$3,000. Bottom line my trade in wouldve failed inspection so I was glad to get anything for it. I thought it was a fair-good deal.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Paul. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s May buy rate lease money factor and residual value for a 24-month lease of a 2013 Altima Sedan 3.5SL with 15,000 miles per year are .00065 and 67% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00065 and 59%.

    If you're interested in a V6 Altima, you may want to price out a lease on a Maxima as well. I have found at times in the past that the difference in payment between the two is often very minimal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • matlevmatlev Posts: 2
    Hello,

    Yesterday I traded my 2010 Altima coupe 3.5SR for a 2013 Nissan Altima 4dr 2.5SV.
    The coupe had a payoff of $17,500, 36,000 miles and overall was in good condition. The lease on the coupe ends August 2013.

    After a long negotiation process the deal on the new Altima I got is:

    0 down.
    $350 a month (after CA tax) for 36 months. (35 payments)
    Residual Value: $15,006.00 (If I want to purchase the car after lease is over)
    Dealership appraised the coupe for 16,475.

    More info:
    My credit score is 605 and I had a loyalty letter from NMAC. (I know its almost impossible to get a lease without normal credit)
    I graduated from collage within a 2 years and I had a 500 rebate. from NMAC.

    Did I get a good deal?

    I hope this helps others in their purchasing experience.
  • samalisamali Posts: 12
    *I'm reposting this here since I didn't see any responses in the 'prices paid' section- and am eager to know if my dealer wasn't overly exaggerating how good of a deal I got.

    Here are the numbers!:
    Sticker Price:$24,460 MSRP) ---after dest charges = $25,860
    Agreed upon Value of Vehicle:$21,790+$595 acquisition fee
    Gross Capitalized Cost=$22,385

    Downpayment (cash)= $500
    Trade in= $600 (old 96 accord w/ over 250k miles and unable to pass smog)
    Rebates and non cash creds=$375
    SUM TOTAL=$1,475 due at lease signing

    Residual Vale=$15,092.20 or 59%.
    Total Monthly Payment (includes tax)=$225.73
    (--Bumping up to 15k miles a year brought up total monthly payment from $217 orig)

    What do you all think? Could it have gotten better? The dealer said he was basically 'givin it away' as the last day of the month-and I established good rapport w/ the dealer. I'm happy I was patient because I was originally getting similar offers for the BASE Model!

    Also free car washes (don't know how long this will hold up) for duration of lease
  • mawjawmawjaw Posts: 1
    I'm looking to lease a 2013 Atlima 2.5SL w/Tech Pkg.

    Does anyone know the May 2013 MF & Residuals for this vehicle
    at 12,000mi & 15,000mi?

    I was quoted the following but when asked another dealer to match,
    they said that the wrong residual was used...

    Lease Term: 36
    Total Payment: 349.00
    Out of Pocket: 0
    MSRP: 30,785.00
    Residual: 17,855.30
    Mileage: 15000

    Please help....Thank you!
  • darb77darb77 Posts: 1
    Carman

    Got a lease quote in nj. $290 per month for 36 months and 12k miles. 1000 down and dealer will make final lease payment on current car (285$). Dealer is also adding a sunroof to the car.
    Is this a good deal?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi darb77. It would be easier for me to evaluate this deal if you were able to provide me with this car's MSRP and selling price. Let me know and I'll tell you what I think.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.