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Nissan Armada Lease Questions

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  • Option one has changed to:

    Option 1

    2006 Armada LE 4X4

    MSRP 46685
    Sell 42404
    Rebate 4000.00 ( They will give it to me)
    Money Factor .00320
    Residual 41%
    Miles 12K
    Term 39 months

    Payments with tax are 210.00 a month with 17K down.

    Sound good?
  • Thanks for the additional information, bud_foxx44. Let's work up some lease payments on these trucks and see what we come up with. According to my calculations, if you were to lease a 2007 Nissan Armada LE 4WD with an MSRP of $44,000 and a selling price of $38,690 through Nissan Motor acceptance Corp. right now for 39 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $543. The payment for an otherwise identical lease of a truck with an MSRP of $48,000 and a selling price of $40,190 should be around $536.

    Car_man
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    Prices Paid Forum
  • You're very welcome, manaraki. There's nothing wrong with trading in your current vehicle when you lease your new one, but it would be in your best interest to have the dealer that you are working with cut you a check for any equity that you have in your trade rather than using the proceeds from it as a down payment for your lease.

    A base 2006 Nissan Armada LE 4WD has a spread of around $3,900 between its full MSRP and its dealer invoice price. On top of that Nissan is providing $4,000 dealer cash on it. That gives you a total of nearly $8,000 to play with, which is right around the discount that you were quoted. This selling price looks very good to me. Nissan is not currently providing any lease support on this truck, but if you want to lease it through NMAC you should still make sure that the dealer uses its buy rate lease money factor of .00295 to calculate your truck's monthly payment.

    Car_man
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  • Hey manaraki. The money factor that you were quoted is almost right. Nissan Motor Acceptance Corp.'s buy rate for the 2006 Armada is .00295 for consumers who qualify for its top credit tier and pay a security deposit at lease signing. If you opt to have your truck's security deposit waived, the money factor would increase by .00015.

    Whatever you do, don't make a $17,000 down payment on a lease. I probably mentioned this earlier, but it's worth saying again. Consumers who make large down payments on leased vehicles risk losing them if their leased car or truck is totaled in an accident or stolen and never recovered. There's nothing wrong with trading in your current vehicle when you lease your new one, just have the dealer cut you a check for it rather than using the proceeds from it as a down payment for your lease.

    Car_man
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  • Love my wife's new Pathfinder so much, that I'm looking at an Armada for myself.
    MSRP of $48025.00
    24-48 month lease
    15k per year.
    1k total down.

    What should I be paying on a lease?
    Are the rebates only for a purchase, or can they be applied to a lease?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jackel142. This truck's lease payment will depend upon what sort of selling price you are able to negotiate on it. The lower the selling price is, the lower your lease payment will be. Even though Nissan is providing $4,000 customer cash on the 2007 Armada, this cash is not compatible with its special lease program. Make sure to stop by the following discussion to see how much other community members have paid for this truck lately: sbb, "Nissan Armada: Prices Paid & Buying Experience" #, 5 Feb 2004 2:54 am. Let me know what sort of selling price you are targeting and I will gladly work up a sample lease payment on this truck for you. When you provide me with this number, I also need you to tell me the exact trim level Armada you are interested in, i.e a LE 4WD, SE 2WD, etc... This is important truck's lease program varies by trim level.

    Car_man
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  • Hello CarMan,

    Can you please tell me if this is a good deal...

    2007 Nissan Armada SE
    MSRP $36,005
    $5,000 total drive off
    Lease for 36 months 12k miles/yr
    @$299 +tax

    Also, if I were to add leather (Not package, they would put in just the leather seats), it would be same above, but @ $395/month. Good deal or not.

    Thanks
  • coupedncalcoupedncal Posts: 252
    I am not sure about the total deal but $3600 for leather (after finance charges) seems hardly a good deal. Did they give out the money factor?
  • No did not give money factor.

    They said they would do the leather at $5000 total drive off @ $385 including tax...
  • CarMan -- I am looking to lease a 2007 INFINITY QX56 4WD (the QX forum was dead (or very sleepy) so I thought I might try here).
    The MSRP is 56,785 and I have a lease purchase price of $51,533.
    Can you give me an idea of the price (pretax) for a 36,39,or 48 month lease (wherever the sweet spot might be)? Also, if it's not too much trouble can you share with me the MF and residual that Infinity is offering on its lease program.
    Lastly, in lieu of the "special" Infinity lease program, could I opt to take the $4K lease money and lease from an outside bank instead? What are your thoughts here?

    THANKS.
    Taysdad
  • janenjanen Posts: 1
    I am in the process of emailing specs for a new armada and am not sure how to find out what the invoice price is to help with my negotiation. If given a VIN, is there a site that can tell me what the dealer paid?
    The MSRP of most inventory I have seen is around 42K-44K. How do I know how much leverage I have. I am not familiar with all the terminology but want to have a grasp of how not to be taken advantage of. Female v. male saleman
    Can I get into this vehicle with no money down and a payment less then $500 incl. tax?
  • grnfsu7grnfsu7 Posts: 1
    I have a lease vehicle that I am trying to get out of. My plan is to trade it in to the dealer, pay the negative equity out of pocket and start over. I realize if I pay the lease company directly, then I have to pay sales tax on this ( I live in FL). But if I trade it in to the dealer, am I still responsible for the tax on this vehicle. I will be paying sales tax on the new vehicle purchase. Just want to make sure casue on the buyers order looks like he charged me tax on the lease vehicle I am trading ,and tax on the new vehicle purchase?
  • jackel142jackel142 Posts: 47
    Here is the deal I was quoted on an 07 Armada LE with sunroof, filter, flaps, and 2nd row bench. MSRP of $45125.00
    15k per year lease, 48 months, total walk in cash of $1000.00
    Payment of $592.00 (which includes PA 6% tax)
    This lease is NOT thru Nissan credit, therefore the rebates can be applied..
    Good deal? Can I do better?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi malkahmike. Let me begin by saying that $5,000 is way too much to pay at signing for a lease. One of the advantages of leasing is that one can drive off in the vehicle that they want without paying much at signing. I always advise consumers against making large down payments on leased vehicles. Those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered.

    You never mentioned the selling price of the Armada that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be glad to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Taysdad. In April, Infiniti is providing up to $3,000 dealer cash on leases of the 2007 QX56. Make sure to take this cash into account when negotiating your lease on this truck. The base version of this truck has a spread of at least $4,500 between its full MSRP and its dealer invoice price. When this is added to the $3,000 dealer cash it gives you a total of around $7,500 to play with. You were quoted a discount of $5,200 on this vehicle. If you are in an area that has a decent level of competition, I would not be surprised if you were able to beat this deal. It wouldn't hurt to shop around a little bit.

    This truck's 42 month lease program will probably yield the most attractive monthly payment. I will work up a sample lease for you using the prices that you mentioned in your post. According to my calculations, if you were to lease a 2007 Infiniti QX56 4WD that has an MSRP of $56,785 and a selling price of $51,533 through Infiniti Financial Services right now for 42 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $702. If you are able to negotiate a lower selling price than this, your lease payment will drop. I doubt that you would be able to lease this truck for less through an independent bank. I used a money factor of .00124 and a residual value of 46% to calculate the above payment.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings janen. It sounds like you are new to leasing. If so, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    You can look up the dealer invoice price of the exact Armada that you are interested in by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You won't be able to input a VIN and have it spit out a price at you, but you can estimate what the invoice price of the truck that you want is if you have a list of its options. You may be able to get an idea of what sort of price you should pay for the truck that you want right now by visiting the following discussion: "Nissan Armada: Prices Paid & Buying Experience".

    If you let me know what the MSRP and approximate selling price are for the exact Armada that you want, I will be happy to use Nissan's current lease program for it to estimate what your monthly payment should be.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jackel142. You never mentioned the selling price of the Armada that you are interested in leasing. This is a very important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more glad to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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  • jdls22jdls22 Posts: 7
    Ok, here is the deal..I am looking for a 2007 Armada. LE Model, wife wants the DVD system, and Leather Interior...I am in NJ, but willing to travel to either PA, NY or DE for the car..Looking to lease..I am receiving payments of over $600 per month, with total OUT OF POCKET close to $5K..12K miles per year, 39mos lease..Something is wrong, no?

    Thanks
    John in NJ
  • philly70philly70 Posts: 6
    Looking for an '07 Armada LE. Have seen great MSRP/Dealer discounts in MN throughout May/June, but lease financing seems off. Anyone know current money factor/residuals for 36/39 months? Couple dealers here showing payments above $700 on $39K all-in sales price. Make more sense to wait for '08's?
  • footwoodfootwood Posts: 16
    I currently have a 2004 pathfinder SE The lease is up october 2007.

    I am looking to trade this vehiucle in for an Armada. The last time I switched out my pathfinder they took off 5 months at no charge and $400 damage. Can I expect any type of a deal or should I wait till lease is up.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi John. I would be happy to estimate what this truck's lease payment should be like for you. In order for me to do so I need you to provide me with its MSRP and approximate selling price. If you don't have these numbers, you can look up the MSRP and invoice price in the following section of this site: Edmunds.com - New Vehicle Pricing. Let me know what these numbers are and I'll run some payments for you.

    Car_man
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  • wardellwardell Posts: 5
    Hi Car_man,

    I'm interested in leasing the 2008 Armada LE. Could you provide the residual values and money factors for both a 12,000 and 15,000 mile/yr. lease for 36 mos? Thank you.

    -LW
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi philly70. Through July 2nd, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Armada LE 4WD with 15,000 miles per year are .00130 and 49%, respectively. The numbers for an otherwise identical 39 month lease are .00140 and 48%. The 2008 Armada's residual values are higher, but its money factors are not as low. I haven't played with the numbers for both, but I suspect that given the additional dealer discount that you are likely to get on it an '07 model is probably still less expensive to lease than an '08.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi footwood. It sounds as though you took advantage of an early lease termination program when you leased your last vehicle. I have not seen any early lease termination offers from Nissan lately, but it wouldn't hurt to check with a couple of dealers to check if one is out there. If Nissan is not running a special program that will let you out of the last several months of your current lease for free, you will be much better off waiting until the scheduled end of your current lease to get something new.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, wardell. According to the latest information that I have seen, Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Armada LE 4WD with 15,000 miles per year are .00230 and 53%, respectively. This truck's 12,000 mile per year residual value is 1% higher.

    Car_man
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  • avguruavguru Posts: 4
    Car man,

    I have an opportunity to lease a 2007 Armada LE. The Vehicles MSRP is $48,195.00 and the selling price is $38,995.00 (I assume I can do a little better on price since this is advertised as an internet special). I would like a 36 or 39 month lease with no money down and taxes rolled-in are Illinois @ 6.75%. Also, the mileage would be 12,000 or 15,000/year. Can you please let me know what I can expect on payments, and If you believe this is a great deal?

    Thank you,

    Matt
  • Hi Matt. The $9,200 discount that you saw advertised on the 2007 Armada that you are interested in is a very good deal. This truck has a spread of around $4,000 between its MSRP and its dealer invoice price plus Nissan is providing $4,500 dealer cash on it right now. This adds up to a total of $8,500 or so, putting the $9,200 discount at right around or slightly below dealer invoice.

    The reason that you are able to take advantage of this huge cash incentive on the Armada that you want to lease is that Nissan is no longer providing lease support on this mode. As a result, if you were to lease one through its captive finance company, NMAC, you would have to use its standard lease program. I would not be surprised if you were able to do better than NMAC's standard program by going through an independent bank.

    Let's calculate a couple of lease payments for you using NMAC's program and see what we come up with. According to my calculations, the 36 month, 15,000 mile per year, zero down, pre-tax monthly payment for an '07 Armada LE AWD that has an MSRP of $48,195 and a selling price of $38,995 would currently be around $660. With only 12,000 miles per year, this payment would drop to $648. The 39 month, 15k payment would be $634. Lastly, the 39 month, 12k payment would be $623.

    Car_man
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  • kipckipc Posts: 3
    Car Man,

    I'm currently attempting to lease a loaded 08 Armada LE. I've got 3 months left on my current lease on a FX45 and the Infiniti dealer has called offering to terminate the lease if we come in now to get into a new vehicle. We like the QX56, but have determined that we can get a loaded LE that is basically the same as a QX minus a few cosmetic features for about $15K less.

    One of the Nissan dealers here in Austin, TX has offered to take us out of the last 3 payments on our lease and give $7500 dollars off the MSRP of $47,975 on the Armada. He is discounting it $3500 and then working it thru an independent bank...US Bank I believe....to be able to also use the current $4000 factory rebate. Nissan Motor Credit will not allow them to use the rebate on a lease...purchase only.

    The best 36 month/15K deal he has offered is $755 per month and that is $0 down and TT&L rolled into the lease. I'm having a hard time swallowing this as my current 36/15K lease on the FX that I got three years ago has a payment of $668 per month. The Adjusted Cap Cost on that deal was $51K with a residual of 56%. The Adjusted Cap Cost on the current Armada deal is $43K....a full $8K less than the FX when I did that deal.

    He has said that the money factor he has gotten from Nissan-Infiniti Finance is .00170 with a residual of 51% and the US Bank money factor is .00280 with a 48% residual, but they allow the rebate.

    Is he shooting me the best deal possible? I just can't imagine that I would have to pay $100 more per month when I'm basically stepping down on the cost of the vehicle.

    Thanks,
    Kip
  • Hi Kip. If its lease program is not as attractive, it is very possible for a less expensive vehicle to have a higher monthly payment than a more expensive one. Let's work up a lease payment on this truck using Nissan Motor Acceptance Corp.'s current lease program to see if it really would be less expensive to take advantage of the customer cash and lease it through an independent bank. According to my calculations, if you were to lease a 2008 Nissan Armada LE 2WD that has an MSRP of $47,975 and a selling price of $44,475 through NMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $647. As you can see, the $755 per month that you were quoted for a lease of this truck through an independent bank is not a very good deal. I would go through NMAC if I was in the market for an '08 Armada right now.

    Car_man
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  • kipckipc Posts: 3
    Car Man,

    Can you break down your calculation for me on this so that I can take it to the dealer? What residual value and money factors are you using? Is this the standard offering thru NMAC right now? It seems strange since the selling price he is working with is $43K with all TT&L rolled in and $0 down. The dealer said that the independent bank was allowing the rebate thereby lowering the selling price. The independent bank had a lower residual and higher money factor than NILT.

    Secondly, do you think it is a better idea to wait until the current lease on our Inifiniti is up in January? Do you believe that in January we will be able to get a better deal on the Armada?

    Thanks,
    Kip
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