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2013 and earlier Nissan Maxima Lease Questions

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  • mhuntermhunter Posts: 2
    I have been told by dealerships that it does not. However, I do not see how the selling prices I have seen on this board can be around 4k off off window sticker. It looks like there is about $2800 between window and invoice on a 32k Maxima & the dealers I have spoken to aren't interested in going into their holdback.Please let me know what I am missing! Thanks
  • Should I lease the 2007 or wait for the 2008?
  • vb1pavb1pa Posts: 30
    Does any one know the money factor and res on 24/36 month lease for maxima se for the month of June?
  • m6_2005m6_2005 Posts: 9
    Hi -

    I am trying to lease a demo vehicle--a 2007 Nissan Maxima SL. The odometer reads 5008 miles.

    How are the residual values for demo cars determined for various lease terms? How would I determine the depreciated portion of this vehicle?

    How exactly is this applied to the lease calculation?

    Also, in leasing, what are some important factors in leasing a demo car vs. a new car to keep in mind? Do the same new lease incentives apply to demo car leases?

    Lastly, what is the residual percentage on the 36 or 39-month lease?

    THANK YOU in advance.
  • m6_2005m6_2005 Posts: 9
    Ok, after a trip to my Nissan dealership, I left with the following lease offer on this DEMO 2007 Maxima SL w/ 5k miles:

    (Reminder: This is a demo vehicle).

    MSRP: $27,945
    Selling Price: $27,000
    Money factor (temp. until credit check): .00185
    Fees: $907.33
    Lease Term: 39 months
    Mileage: 12k
    Down payment: $2,500

    Now the residual is perplexing. As I was told, for a 39 month lease, it's 51%---however, for this same 39 months, they've calculated it as: $16,308.95.
    Now, based on an MSRP of $27,945-----$16,308.95 would put the residual @ 60%????

    Finally, we're @ a monthly payment of $416.83.

    Overall, this seems like a s---ty deal to me.

    Someone please help me out here.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey newcarforme. I need both the MSRP and the selling price of the car that you are interested in to calculate a lease payment for it. Let me know what the MSRP is and I'll crunch some numbers for you.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    No problem, arleneg. NMAC's 12,000 mile per year residual values for 24 and 36 month leases are 1% higher than its 15,000 mile per year residuals.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello mhunter. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2007 Maxima SE with 15,000 miles per year are .00016 and 61%, respectively. 15,000 miles per year is the highest mileage allowance that NMAC publishes residuals for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty. Nissan is not currently providing any cash incentives on leases of this car.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi taepo518. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2007 Maxima SE with 15,000 miles per year are .00016 and 61%, respectively. This car's 12,000 mile per year residual value is 1% higher.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Unfortunately, taepo518, the customer cash that Nissan is currently providing on the Maxima is not compatible with its special lease program.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi tcwarealestate. Nissan's lease program on the 2007 Maxima is pretty good right now. It is difficult to say what its program will be like on the 2008 model when it is introduced. I personally don't see any advantage to waiting to get one, but as I always say it is difficult to predict exactly what manufacturers will do with their future incentives programs.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here's the information that you're looking for, vb1pa. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2007 Maxima SE with 15,000 miles per year are .00016 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00115 and 51%. If you decide to go with the longer term, you probably would be better off going with 39 months instead of 36. The 29 month program looks a little more attractive at .00080 and 50%. If you were to lease with only 12,000 miles per year, these cars' residual values would be 1% higher.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi m6_2005. As long as they have never been titled, demo vehicles qualify for the same incentives as new vehicles. I believe that NMAC's residual values for demos are the same as they are for new vehicles, but I am not 100% positive that is the case. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Maxima SL with 15,000 miles per year are .00185 and 51%, respectively. The numbers for an otherwise identical 39 month lease are .00185 and 50%. If you lease with only 12,000 miles per year, this car's residuals are 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey m6_2005. You definitely should pass on this offer. A $945 discount on a demo Maxima that has 5,000 miles on it is no deal. I am not intimately familiar with what the market is like for the Maxima right now, but I would be very surprised if someone who was in an area that has a decent level of competition was not able to find a dealer that was willing to lease them a brand new one at $500 or so over invoice.

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  • greanpea68greanpea68 Posts: 1,996
    m6_2005.... You should easily be able to get another $1000 off the cap cost= $2000 off... On the other hand it is not better to lease a demo vehicle with 5000 miles on it. The payments are based on the residuals. If at the end of said lease a car being turned in with 39000 (39 mos lease 12k/year) will lease out better than a car with 44000 miles.

    on demo car they should be at least $500 under invoice. when you pay for the milage up front it is $.10/mile. Since you are already at 5000 miles times that by $.10 = $500...

    That would be fair...
  • Car_man,
    I didn't negotiate a price, I just received a monthly payment from multiple dealers. Including the $705 destination charge, my estimate for the MSRP using Edmunds for an SL AWD w/ the touring package is $36,405 and the invoice is $33,322. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Thanks for the additional information, needacarnow. Let's assume that you will be able to lease this car for $500 over invoice and see what sort of payment we come up with. According to my calculations, if you were to lease a 2007 Nissan Maxima SL that has an MSRP of $36,405 and a selling price of $33,822 through NMAC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $500.

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  • Looking to lease a nissan maxima se base with cloth,skyview.Trading in a nissan altima 2005 that they will be giving me 9,500 with 75k payoff is 15,000 rolling the rest in negative equity.Long story short wife got screwed on the altima bought it with 50k interest rate out the roof.This is the deal they have for me rolling 5,500 in negative equity sale price of the maxima is going to be either 27000 or alittle less monthly payment of 548 with 1,000 down 15k a year.And is nissan paying the sales tax this month as a incentive.I live in texas.The moneyfactor was 14,182 residual was .000179.Let me know what you think
  • Hi,
    I got the following lease from a local nj dealer last night and was wondering if it sounds like a good deal.
    Total MSRP:$33,645.00
    Super Black/ black leather
    Model
    3.5 SE
    Packages and Options
    Splash Guards
    Bluetooth Hands-Free Phone System
    3.5 SE Premium Audio Package
    Power Glass Sunroof
    Driver Preferred Package
    3.5 SE Sensory Package

    Accessories
    Carpeted Floor & Trunk Mats

    Lease 39 month
    12000
    $3000 down
    $358 month

    -Dave
  • drlev99drlev99 Posts: 2
    Current Money Factor for '07 Maxima for August is 0.000645. The 39 mo. residual is 50% of MSRP.

    If you do the lease math, based on your above MSRP, with a purchase price around $200 over invoice (invoice is around $30,670 for yours), your monthly payment for a 39mo. 12K lease, not including tax, comes to around $390/mo. with only
    first month's payment and registration, title, etc. due at signing (around $500 total, out the door). NOTE: I did not even use your $3000 down payment in the above calculation!

    Now if you put down $3000 as a cap cost reduction, that would lessen your payment to around $312/mo. not including tax...You'd still owe first payment, etc. at signing, assuming you used that $3K down payment purely as a cap cost reduction.

    So, looking at all of this, you'd pay $1752 more than you should with the scenario above.

    How? $390/mo. minus the $358/mo. you were quoted = $1248 extra over those 39 months. However, you showed $3000 down...meaning you are paying $1752 more than you need to, based on the above scenario of a $200 over-invoice purchase price!

    Now I am not sure if your payment above included tax or not. My numbers here do not.

    I leased an '07 Maxima today (my 2nd) for $200 over invoice and am paying $363/mo (tax not included) for 39 mo. with 12K mi. All that is due at signing is first month payment, title, registration, etc..around $500 at signing. The MSRP on mine is $29,995. I also negotiated, for my mom, another 2007 Maxima SE in October of 2006 for $200 over invoice, so anything more than that...walk! I hope I saved you some cash! I
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