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Nissan Armada Lease Questions

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Nissan Armada. Thanks.

Car_man
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  • I got a quote on an 06 LE. It has the nav and dvd entertainment, as well as technology package and some others. MSRP is $48,695. Working with CarsDirect.com. I'm a returning Nissan owner. They gave me a price of $43,683 (they said it excludes $1,500 rebate b/c Nissan does not include this on its "premier leases"). Still this is below invoice of $44,500 (roughly). The lease term is 39 months. 12,000 miles per year, although I could easily do 10,000 per. I was told a money factor of .00218 (seems a bit high to me) and a residual of 52% (does this seem low?). Anyway, with nothing up front but taxes, they gave me a monthly payment of $675. First, I have a lease calcuator that I've used for years (always accurate) that indicates with these inputs the monthly payment should be $619. Second, can I expect to find better numbers than these? This seems pretty high to me.

    Thanks
  • Oh, I forgot to mention above is for a 4WD model.

    Thanks
  • Car_Man, can you give me any feedback on the above lease quote. Please.
  • Hi minaldo1. If you are able to lease this truck with a selling price that is below invoice, you are getting an excellent deal. As far as this truck's lease money factor goes, its buy rate factor for a 39 month lease of any 2006 Armada is currently .00203 for consumers who pay a security deposit and qualify for its top credit tier. Its residual value is currently 52% for this term with 12,000 miles per year. Using these numbers, an MSRP of $48,695, and a selling price of $43,683, I estimate that this truck's zero down, pre-tax monthly payment should be around $611. As you can see, something is not right about the lease payment that the dealer quoted you. I doubt that you will be able to get a much lower selling price than the one that you were quoted, but as I said for some reason this price is not translating into the correct lease payment.

    Car_man
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  • Car_man, thanks. Glad to see my lease calculator is in working order. I don't understand why they would tell me the best money factor I can get is .00218, when you are showing a slighlty lower one. I'm a 3 time lease Nissan customer with outstanding credit (in the 780s). And the lease payment should be about $70 per month less. That's serious money. It really bothers me that they monkey around with the numbers like this, all they do is destroy their credibility and poison the relationship. Would the residual go up much (and my monthly lease cost down) if we use 10,000 mile per year cap instead of 12,000? Also, is it true that NMAC does not offer the car rebate ($1,500)on leases? Thanks
  • You're welcome minaldo1. I can certainly understand why you are annoyed. I would be as well if the dealer that I was working with was trying to mark up the money factor of the car that I was interested in. Try not to take it too personally though, it's just business. Now that information on invoice prices and incentives are available on sites like Edmunds.com, dealers are putting more effort into making money on the back-ends of deals, like by marking up interest rates. If they didn't, a lot of dealers would probably have to close their doors. Now that you know what this car's money factor should be, don't let them mark it up on your deal.

    I don't believe that Nissan Motor Acceptance Corp. offers 10,000 miles per year leases on Nissan division products. Yes it is true that Nissan's normal customer cash incentives are not compatible with its special lease program.

    Car_man
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  • buster6buster6 Posts: 100
    Could you please provide the current 3yr/15k money factor and residual on the armada. Thanks!!
  • I sure can, buster6. This truck's lease program varies by trim level though. For now, I will provide you with information on the 2006 Armada LE 4WD. Let me know if you want a different model. If you were to lease this truck through Nissan Motor Acceptance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00163 and 51%, respectively.

    Car_man
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  • i am new to the lease calculator what would the payment be on a Armada that costs 40k for a 39 month lease at 15,000 miles a year

    Thanks
  • Hi achadha1. When you say that the Armada that you are interested in costs $40,000, do you mean that's its MSRP or selling price? Either way, I need to know both of these numbers to calculate a lease payment on this truck for you. I'd be happy to estimate what your lease payment should be on this truck if you provide me with this pricing information, as well as a detailed description of the Armada that you want. The description is necessary because its lease program varies by trim level.

    Car_man
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  • Hello,

    I am looking at a NEW '06 Armada LE with Rear DVD and Tech Package, Micro-Filter, Floor Mats. The MSRP is $46,075.00 or thereabout. I also have a 2003 Lincoln Aviator with 38,500 miles, and Autobytel says the good trade in value for it is $20,675. My payoff is $17,748.00 so I have some equity.

    All told, I offered the dealership $619.00 per month for 36 months, and they countered with $629.00 for 38 months.

    I based this off of paying invoice which is $41,600 minus $2,252.00 in equity (if they give me $20,000 for mine), rolling in title and license, and with the taxes being waived. I used a rate factor of .0163. Is this the correct one to use???

    They told me you either get the rebate of $2,000 or the sales tax waived, and in Texas our sales tax on cars is 6.25%.


    Is $619.00 a good deal, a great deal, or not so good?
    I have to decide by tomorrow.

    Thank you!!!!!!!!!!!
  • its an LE 4X4 with tech and dvd package msrp is 46,500 or so final cost to me is 40,000
  • Thanks for posting your questions in this discussion, matta3. Let me begin by saying that I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Armada would be exactly the same, regardless of whether you had put $2,000 down, or had made absolutely no down payment at all. You can still trade in your Aviator when you get your Armada. Just have the dealer that you trade it in to cut you a check for the equity that you have in it rather than using it as a down payment on your lease.

    Dealer invoice is a very attractive selling price for this truck, especially considering that the $2,000 customer cash that Nissan is currently providing on it is not compatible with its special lease program. Let's estimate what sort of lease payment this truck would have if you were to lease it through Nissan Motor Acceptance Corp. According to my calculations, if you were to lease a 2006 Nissan Armada LE 4WD with an MSRP of $46,075 and a selling price of $41,600 through NMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $609. So $619 a month before tax is a good deal, as long as you don't have to make a down payment to get it.

    Car_man
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  • Thanks for the additional information, achadha1. OK, according to my calculations, if you were to lease a 2006 Nissan Armada LE 4WD with an MSRP of $46,500 and a selling price of $40,000 through NMAC right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $536.

    Car_man
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  • Thanks for your message.

    This is a 4 x 2 and not a 4 x 4. Will that affect the money factor?

    It appears as if you are using a money factor of .0146 as a raw or buy-rate? I thought it was .0163.

    Also they are offering me 12,000 miles instead of 15,000. From your post, it seems as if I am getting a good deal, but not a great deal.

    Thank you again
  • mike2555mike2555 Posts: 13
    I am interested in leasing an 06 Armada SE Off Road. Can you please tell me the current money factor and residual percentage value for this truck. I am looking at 36 months and 12000 miles. Thanks for your help. Is the residual value negotiable?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, matta3. The buy rate money factors for both the 2WD and 4WD Armada LE models are the same, but the residual values for 2WD models are 2 points lower than the residuals for 4WD models. NMAC's residual values for leases with 12,000 miles per year are 1% higher than they are for leases with 15,000 miles per year.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, mike2555. If you were to lease a 2006 Nissan Armada SE Off Road 4WD through Nissan Motor Acceptance Corp. right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00161 and 52%, respectively. Vehicles residual values are sent by the bank that you are leasing through and individual dealers do not have the ability to alter them.

    Car_man
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  • bourlabourla Posts: 5
    HI, i was offered a blue 06 LE 4x4 with tech package w/sirius, dvd entertainment, floor and cargo mats, cargo tray and in cabin filter and splash guards. msrp is 49245, offered for 44,500 with TT&L after 2500 rebate. is this a good lease or would it be better as a sale with the 3% financing from Nissan, thanks..
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bourla. While Nissan is currently providing $2,500 customer cash on the 2006 Armada, this cash is not compatible with its special lease program. I wonder if the dealer that you are working with is running your lease through an independent bank because doing so with the $2,500 is better than leasing through Nissan Motor Acceptance Corp. without it. For the sake of reference, NMAC's current buy rate lease money factor and residual value for a 36 month, 15,000 mile per year lease of a 2006 Armada LE 4WD are .00161 and 52%, respectively. You can use these numbers to compute if you would be better off leasing through NMAC or using the deal that you were quoted.

    Car_man
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