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Nissan Armada Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jb1hb1997. This truck's lease program varies depending upon how long you lease it for and how many miles per year you need to be able to drive it. For now I will provide you with information on a common set of lease terms, 36 months with 15,000 miles per year. Let me know if you want something different. If you were to lease a 2006 Nissan Armada LE 4WD 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 .00161 and 51%, respectively. Using the prices that you mentioned in your post, an MSRP of $48,945 and a selling price of $44,280 (which I think may be a little optimistic) and the aforementioned lease program, I estimate that this truck's zero down, pre-tax monthly payment should be around $649. Unfortunately, as you can see, this is quite a bit higher than your target payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello ccerv13. It is difficult for me to say what sort of deal you got on your Murano without knowing its full MSRP. This will show me how much of a discount you were given on it and will enable me to use Nissan's actual lease program to estimate what your monthly payment should have been. Let me know and I'll tell you what I think.

    Don't get nervous about leasing your next vehicle. As long as you negotiate an attractive selling price and make sure that its lease payment is being calculated NMAC's buy rate money factor, you'll get a good deal.

    Car_man
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  • milkenmilken Posts: 10
    Thanks for the update. I am looking to lease an LE 4x2 with the technology package (msrp $44,455). I know Nissan is giving a $3000 cash back for purchases so the incentive is not available unless I lease through another bank. Do you know if Nissan typically provides the best money factor and residual or is it typically pretty competitive?
  • tgctgc Posts: 1
    I am looking to lease a 2006 Nissan Armada LE loaded with the technology package and DVD entertainemnt system. 39 months and 12,000 miles per year.

    Can you tell me what the residual and money factor should be?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're right, milken. You would not be able to take advantage of the $3,000 customer cash that is currently available on the '06 Armada unless you lease through an independent bank. Nissan Motor Acceptance Corp.'s lease program for this truck will probably be significantly better than the lease program for it through any independent bank. It is difficult to say whether it would be better to lease through NMAC or through an independent bank + the $3,000 cash, but if I had to make an educated guess I'd say that NMAC's program would still be better even when factoring in the lost cash.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, tgc. If you were to lease a 2006 Nissan Armada LE 4WD through Nissan Motor Acceptance Corp. right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00158 and 50%, respectively.

    Car_man
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  • cobrakaicobrakai Posts: 2
    Hi Carman, I was hoping you could give me the residual and money factor for an 06 SE 4x2 model which I have TMV priced at $33,061. 24 & 36 months with 12 & 15,000 mile allowances. Also, Are you familiar with independent leasing companies and how are there rates in comparison to NMAC? Thanks in adavance for my help and thanks on a whole for everything you do on the forum.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, cobrakai. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2006 Armada SE 2WD with 15,000 miles per year are .00125 and 58%, respectively. The money factor for an otherwise identical 36 month lease of this car is the same, but the residual value drops to 49%. If you were to lease with only 12,000 miles per year, this truck;s residual values would be 1% higher. I am not very familiar with the lease programs that independent banks are offering on the Armada right now, but I suspect that NMAC's lease program for this model is the most attractive, even if one was to take advantage of its customer cash when leasing through an independent bank. Most dealers will know if an independent bank has the best program for a specific model and they will try to steer their customers in that direction.

    Car_man
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  • Hi Carman! I was looking to lease either a 2006 or 2007(if they are out) Armada. I would like the LE style with 2 WD. We drive approx. 18000 miles/yr. Could you give me an estimate on monthly payment. we would be looking to leaese for 36 or 42 months. Thanks!!
  • hooopshooops Posts: 64
    Car_man

    Can you please provide me with the 36 month 15k mi/yr lease numbers on a 06 Armada SE 4x4. I see Nissan is still offering $3000 cash incentive through 10/31.

    Thanks
  • Hi scotty11. You never mentioned the selling price or MSRP of the Armada that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.

    Car_man
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  • Hey hooops. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2006 Nissan Armada SE 4WD with 15,000 miles per year are .00095 and 49%, respectively. Nissan is currently providing $3,000 customer cash on the 2006 Armada, but unfortunately this cash is not compatible with its special lease program.

    Car_man
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  • sasukesasuke Posts: 77
    I know Nissan is having 3k cash back

    Do you know the residual and money factor on an armada SE with leather, 4x4?

    15k miles
    36 months
  • Hi sasuke. While Nissan is providing $3,000 customer cash on the 2006 Armada, unfortunately this cash cannot be combined with Nissan's special lease program. Nissan is not currently providing any cash incentives on leases of this truck. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2006 Armada SE 4WD with 15,000 miles per year are .00105 and 48%, respectively.

    Car_man
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  • Hi above vehicle MSRP is $42,235; TMV is $41,938 but also subtracting 2k rebate amounts to $39,938.
    My situation involves a 48 to 60 month lease (my company will pay a large percentage of the lease) then I can buy the car at end of lease so I'm looking for a smaller buyout figure. is either of these quotes any good?

    #1 - 48 month lease; 12k/year
    2k down plus tax and first payment
    $459/month
    lease end value: $17,302

    #2 - 60 month lease; 12k/year
    2k down and same costs as above
    $429/month
    lease end value: $14,274
  • kyfdxkyfdx Posts: 29,161
    One point... One way to get a lower residual is to increase your mileage allowance.. A 15K/year lease might reduce your residual by 2% (or around $800).

    Normally, you wouldn't want to pay for miles that you don't use, but in this case.. you aren't paying for them.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • sbuhlersbuhler Posts: 100
    I got a quote for a 2007 Armada SE. It seems really high and I cannot even duplicate their monthly payment. Carman can you give me your thoughts?

    MSRP: 37375
    Cap Cost: 34593 (does not include rebate)
    Money Factor: 0.00274
    Residual: 19,061 (Seems extremely low ... I don't even know if the 2006s are that low)
    36 mos, 12K/yr
    Monthly Payment: $654 (they told me pre-tax)

    Thoughts? Thanks.
  • I am trying to get a price on 4X2 LE but I am being told they are hard to find in the NorthEast. I live in North New Jersey. I got a MSRP of $40,995 on a 4X4 LE with Sunroof option and a couple of other small options. The monthly lease price I got so far was $645 a month on a 39 month lease. I got a $628 price on a 36 Month 12K a year but I didn't get the MSRP on that. Bottom Line, I should be paying something the mid to high 500's no? A friend of mine got a Chevy Tahoe with a sticker of $53K and pays $685 on a 48 month lease. With a MSRP of $41K, I should pay in the $500's I would think.

    Please help
  • I'm looking to lease a '07 LE. What are the residual and money factors for a 39 month lease with 12K miles per year?
  • sbuhlersbuhler Posts: 100
    I don't know about the residual and money factors for the LE, but I just leased an '07 SE.

    The money factor was .00188 with a security deposit for a 39 month lease. The residual was 49%.

    Sam
  • Sam,

    May I ask what your monthly payments were?
  • I need to know what I would be looking at for payments on this vehicle:

    MSRP 46,685.00

    Selling Price 39,299.00

    I need to get as low a payment as possible. I could do 10K miles. The lease could go 48 months if needed. What would it take to get payments under 400.00 if possible? Thanks
  • sbuhlersbuhler Posts: 100
    My monthly payment is 525 with Tax. My tax rate is paid monthly and is 9% of the monthly payment. All I put down was the first payment (525 + 550 security deposit to lower the money factor + title fees). I believe it came to $1281. My lease is for 39 months at 12K per year.

    Even if your money factor was 0 which is 0% which is not possible since the lowest rate I could find was 0.00188 or ~
    4.512%, if you don't put anything down on the lease for 39 mos your payment would still be 421, but once you add in the lease charge (finance charge) it will be in the 500s before tax.

    I would recommend getting this excel file to plug in your numbers
    http://www.carbuyingtips.com/regm.xls

    The part that I know is that for a 2007 SE for 39 mos @ 12K miles the money factor with a security deposit is 0.00188 and the residual is 49% (of MSRP).

    Of course you can get your payment below 400 by putting a large amount as a downpayment which people on this forum don't recommend because you can loose all of that money if the car is stolen or totaled in an accident.

    That would be awesome if you are able to get that selling price. I don't know if the rebate (3,000) that is available can be used with their lease program. Don't forget that you need to pay the acquisition fee also which is usually added to the selling price.

    Hope this helps.

    Take care,
    Sam,
  • Hi sbuhler. A base 2007 Nissan Armada SE 2WD has a spread of around $3,175 between its full MSRP and its dealer invoice price. You were quoted a discount of $2,782 on this truck. So you are probably at around $500 over dealer invoice or so. That is a good deal on this truck right now. Using the prices that you mentioned in your post and NMAC's latest 36 month, 12,000 mile per year money factor and residual value (.00230 / 50%), I estimate that this truck's zero down, pre-tax monthly payment should be around $565. As you can see, something's not right about the payment that you were quoted.

    Car_man
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  • Hi bud_foxx44. I would be happy to use Nissan's actual lease program to tell you exactly how much the specific truck you are interested in will cost to lease right now. I just need you to provide me with its full MSRP and approximate selling price. You may be able to get an idea of what sort of selling price to expect by visiting the following discussion: "Nissan Armada: Prices Paid & Buying Experience".

    Car_man
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  • Hi danymac13. Nissan Motor acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Nissan Armada LE 4WD with 12,000 miles per year are .00230 and 51%, respectively.

    Car_man
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  • Hi manaraki. Nissan is no longer providing lease support on the 20067 Armada. You can still lease one through Nissan Motor acceptance Corporation if you want, but if you do you will have to use its standard lease program. That's the bad news. The good news is that Nissan is currently providing $4,000 dealer cash on this truck that you can use to negotiate a very low capitalized cost for your lease.

    Let's work up some payments for this truck using the prices that you mentioned in your post and see what we come up with. According to my calculations, if you were to lease a 2006 Nissan Armada LE 4WD with an MSRP of $46,685 and a selling price of $39,299 through NMAC right now for 36 months with 12,000 miles per year (I don't believe that it offers leases with only 10,000 miles per year), your zero down, pre-tax monthly payment would be around a whopping $710. The numbers for an otherwise identical 39 month lease should be $679. The numbers for a 42 month lease would be $663. And the numbers for a 48 month lease would be around $635. Unfortunately, as you can see, you are not going to be able to get anywhere near the $400 per month that you're looking for. You might be able to get closer to that number by leasing a 2007 model, but even then you're still going to be well over $500 a month for an Armada.

    Car_man
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  • Here are the 2 different Options:

    2007 4X4 LE with just sunroof option
    MSRP $44,000 selling price $38,690 plus tax

    2007 4X4 LE tech package with Nav and sunroof
    MSRP $48,000 selling price $40,190 plus tax.

    I am looking at 39 or 48 month lease for 12K a year and the tax rate is 7% where I live.

    Also I would like to pay 1st month and motor vehicle fees upfront, somewhere around $1400-1500

    Thanks
  • You have helped me in the past and I appreciate all the help you have given to me and countless others. With that being said, and knowing you have told us many times to try and not put anything down, I am going to ask for numbers anyway. Here we go:

    2006 Nissan Armada LE 4X4

    MSRP 46685.00
    Sell 38404.00

    39 months
    10K miles or 12K if it makes price per month go down.

    17K down (trade in)

    Thank you very much once again!
  • Carman,

    There have been a few changes to the above email. I have more accurate numbers. First one is with 17K down (Trade in, paid off) Here we go:

    Option 1

    2006 Armada LE 4X4

    MSRP 46685
    Sell 42404
    Rebate 4000.00 ( They will give it to me)
    Money Factor .00395
    Residual 39%
    Miles 15K
    Term 42 months

    Price per month quoted @ 270.65 a month (tax included)

    Option 2: This is with 16K down:

    2007 Armada LE 4X4

    MSRP 48855
    Sell 45885
    Money Factor .00288
    Residual 49%
    Miles 15K
    39 months

    Payments for this one is 352.00 (tax included).

    Option 3:

    2007 LE 4X4

    17K down
    MSRP 45,875
    Sell 41,741
    Money Factor .00203
    Residual 49%
    39 Months
    12K

    Payments quoted at 208.65 plus tax. Are any of these even close? What should they be? Thank you so much!

    Do these seem accurate? When I use lease guide, these seem high. I have also had two different money factors on 07's.
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