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Nissan Altima Lease Questions

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Comments

  • max2k10max2k10 Posts: 2
    We actually picked up the car yesterday. Total out of pocket was $973 and $299 monthly payments including tax for 36 month and 12k a year.
  • rj44rj44 Posts: 8
    Hi Car_man. The MSRP is $23,780.
  • rj44rj44 Posts: 8
    Carguy144 sounds like you got a great deal.

    Can you please post your money factor, residual and MSRP of the car?

    Thanks
  • steen013altimasteen013altima Posts: 34
    edited May 2013
    whats the lease payment, I have 800+ credit score (tier one ) and heres the price of the car, I do not want to put any money down. (ill pay tax, title, registration out of pocket)
    heres the car..

    2013 altima 2.5S

    MSRP 24,105

    dealer price 18,441 (the price I am buying it at)

    whatever the money factor is at tier one, I will get (anyone know what it is now. I was told .00103 (equates to about 2.5%)

    and the lease is for 39 months 12K miles (so no extra charge for mileage to be added in).

    and residual value is i believe 60% of msrp = 14463

    and I know whatever the figure is (rental plus interest) it is plus tax, but i can do that.

    thanks in advance.

    can anyone figure it , i always get messed up.

    thanks.

    ps- thank you car guy for your above answer #1919 to my post #1914.
  • steen013altimasteen013altima Posts: 34
    edited May 2013
    car guy how do you figure a payment of 135 mo.

    i figured it this way with rj44 numbers.

    depreciation or rental fee is price (adjusted cap cost) 20500 - residual value of 14268 / 36 = this equals 173

    the finance fee is ..adj cap cost (price) 20500 x money factor of .00103 = 21

    173 +21 = lease price of 194.

    this is on a std 36 month lease with a 12k mileage, there is a premium for 3K more per year (15K) so the figure of 228 seems to be accurate.

    but carguy, I like to learn, how do you figure it to be 135.

    how do you calculate 135 mo.
  • if your getting .00033 mnoney factor,,grab it,,,thats less than one percent .00033 x 2400 =0.79%.

    I spoke to a few nissan delaer and money facotr for tier 1 was .00103 (which is 2.47%. so if that number is real, grab it. no negotiate your price (adjusted cap cost ) and number fit in the formula.

    all I can say is wow .00033 .79%
  • this is where I always get mixed up.

    when figuring a lease do you use the price you pay for the car (adjusted cap cost) or Msrp.

    the formula I have is to use the adjusted cap cost when figuring the rental fee and the finance fee. and the msrp does not get used in the formula.

    of course money factor is used when multiplying with adjusted cap cost to figure monthly finance fee....and residual value is used and subtracted from adjusted cap cost before dividing by number of months to achieve rental or depreciation fee. add up the two fees and you have a lease payment.

    rental fee = adj. cap cost - resid value / # months in lease.
    finance fee = adj. cap cost x money factor.

    add two figures together = lease payment before monthly sales tax.

    anyone do it another way or same way,

    thanks,
    steen.
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,914
    edited May 2013
    The MSRP is used to calculate the residual..

    Residual = MSRP X (residual percentage)

    After the residual amount is determined, then the MSRP is not used again in the formula..

    Moderator - Prices Paid, Lease Questions, SUVs

  • carguy144carguy144 Posts: 6
    $31,000 car vs $19,000 car, I dont know, seems way too high to me. When it comes to leasing I go for best bang for the buck, regardless of make or model. If youre gonna get an Altima at $250~ a month, you might as well buy and not lease.

    With the low rates you could purcase an Altima for not much more than leasing
  • rj44rj44 Posts: 8
    $19,000 financed for 60 months at 3% plus sales tax would cost you about $370/mo. Quite a big difference compared to $228 for 36 mo lease.
  • emc17emc17 Posts: 26
    Hi car man, I would like to know if this is a fair deal on a 2.5sl with navigation, spoiler, external ground lights and illuminated kick plates. MSRP $31.560.
    The dealer wants $675 cash due at signing and $359 month tax included for 36months, 12.000 miles.
    I still have 3 payments left on my current Altima lease which the have taken care of.
    Should I wait till the end of my lease, or this is fair enough for this car.
    Thank you!!
  • i found fitz mall in MD selling 2.5S for 19641 (msrp 24105) incl remote start and car mats..
    well this is 81.5% of msrp...

    DOES ANYONE know of a dealer in usa with better prices.

    and 2.5SV $20937 (msrp 25435) incl carpeted mats. this is at 82.3% of msrp.

    so anyone know of a dealer anywhere in USA with better selling price to msrp percentages.
  • faberafabera Posts: 6
    Why would you pay $228 a mo on a $19,000 Altima when you can currently lease a $36,000 G37X for $299 a month?

    Again, lease support must be weak on the Altima, look at other options, you can get MUCH more bang for your buck.
  • its $71 a month, which annualy is $852 which is a nice cruise. so enjoy your upgraded car ride, while i drive my altima and for one week a year enjoy a FREE vacation with the money I am not spending on a G37.

    to go further using your logic, well for $399 you could drive a XTS cadillac, and on and on it can go.
  • badacepmbadacepm Posts: 3
    I agree Steen013. The base altima isn't exactly riding in style. I compared the prices for 3.5SL were so high I ended up with an MKZ for about $40/mo more but included maintenance and only 2 year lease instead of 3. :shades:
  • rj44rj44 Posts: 8
    edited June 2013
    The G37 with premium pkg is $299/ mo with $2500 down and 10,000 miles/yr .25/mile over. Plus a $700 non refundable acq fee.

    With zero down the lease goes up to $375 plus tax. After taxes the lease payments would be close to double the payment when compared to the Altima. It's a low mileage lease so you'll have to add $1500 at the end of the lease if you drive 12,000 a year.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Thanks for the additional information, rj44. OK, you were given a selling price of $20,500 on a 2013 Nissan Altima Sedan that has an MSRP of $23,780. That's an excellent selling price.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi emc17. Did the dealer tell you what this car's selling price is? That would make it much easier to evaluate this deal. At first glance, $359/month for a 2.5 Altima is not cheap, but I haven't worked up payments on every Altima variant so the selling price would help.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • faberafabera Posts: 6
    Money down is for amateurs, that 2-3 grand should be erased if you negotiate at all. You have to look at the cap cost in the lease .

    As an example the current Altima advertised deal is 36 mo at $199 a mo with $2400 down on a unit that MSRP's at $23,925. Net cap cost (final purchase/lease price) $20,232. I know around here you can get a base unit for around 19k if you negotiate. That means no money down except tax, title, license, and you should be able to walk out door with advertised payment (prolly little lower) minus the $ down.

    Either way Altima lease support is aweful, even a Nissan dealer told me that, told me July 4th deals would be much better.
  • faberafabera Posts: 6
    Oh P.S. Turning a lease in at lease end, and pying fees is also doing it wrong.

    I trade my leases for new lease (to any dealer) well before lease is up. Every lease has a buyout amount that changes every month as you make payments. You can take your vehicle and trade in just like you would if you had a loan, and theres no penalty.

    Trust me, Im on lease #15 over past 10 years between wife and I.
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