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2013 and earlier Nissan Maxima Lease Questions

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  • Hi surfahboy21. Please see my previous post for info on this car's 36 month lease program. If you were to lease a 2006 Nissan Maxima SE through NMAC right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00213 and 56%, respectively.

    Car_man
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  • Hi jpetty. $100 over invoice is a good price for this car. The money factor that is being used to calculate your lease payment is only slightly higher than NMAC's buy rate money factor of .00161. If you are having your car's security deposit waived, this would explain why. If you are trying to keep your lease payment as low as possible, you would be better off paying a security deposit and using the lower money factor. Besides, you get the deposit back at lease-end, but you never get the extra money that you paid on your monthly payment back.

    I wouldn't make the $3,000 down payment on this lease that you are considering if I was in your situation. 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 Maxima would be exactly the same, regardless of whether you had put $1,600 down, or had made absolutely no down payment at all. You can always keep the money that you would have used as a down payment in the bank and use it to supplement or make some of your lease payments for you.

    Overall, this looks like a good deal.

    Car_man
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  • Hey shepali. If you were to lease a 2006 Nissan Maxima SE through NMAC right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00139 and 66%, respectively. The numbers for an otherwise identical 36 month lease should be .00139 and 56%.

    If you were to lease a 2006 Nissan Maxima SL through NMAC right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00161 and 66%, respectively. The numbers for an otherwise identical 36 month lease should be .00161 and 57%.

    Car_man
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  • Greetings bodridis80. You never mentioned the selling price of the car 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 car 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 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 its selling price is.

    Car_man
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  • I went to Dobbs Nissan and they gave me a quote on a 36 month lease with 12,000 miles a year at 490.00 dollars. I have lease through nissan 3 times in the past and I am just shocked at this price. My current lease is about to expire. It was a 4 year lease ( they stuck it to me last time )and I only have 32500 miles on it. The vehicle I want is 31565 msrp. How can I Keep from getting taken advantage of? Nissan has sent me a coupon waiving the security deposit.
    Wlm
  • Hi helobabe. The most important thing to do on the new vehicle that you are interested in is negotiate its selling price. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for them. You may be able to find out how much you should pay for this car right now by visiting the following discussion: KarenS, "Nissan Maxima: Prices Paid & Buying Experience" #, 17 May 2001 7:46 am. Once you know what you want to pay for it, let me know and I will be happy to calculate what your monthly payment on it would be if you were to lease it through Nissan Motor acceptance Corp.

    Car_man
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  • mywavemywave Posts: 5
    Does anyone know if the $1,500 Nissan rebate can be used towards a lease, or even to cover the aquisition costs?
  • I'm getting this offer from the Fleet/internet manager at a Southern California Nissan Dealer:

    Getting a low price via a Vendor Vehicle Purchase Program wth Nissan on a 2006 Maxima SL loaded with Driver Preferred package and Nav System. MSRP is $34,240. I'm being offered at $29,532 + $795 Acquisition fee for total of $30,327which is the price after cash back and before taxes.

    For a 12k miles, 36 month lease, at a residual of $17,805, the pre tax monthly payment amount is $439.31. The dealer has also agreed to pay 1st month's payment and the 1st year's liscense/registration fees. The "rate" on their lease computer printout is 1.90 which I'm guessing is Money Factor of .0019? Is this a great deal?

    Parshad
  • Unfortunately, mywave, the answer to your question is no. The $1,500 customer cash that Nissan is currently providing on the 2006 Maxima is not compatible with its special lease program.

    Car_man
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  • Hi Parshad. I don't know if you have leased your car yet, but if not you might be interested in the fact that Nissan's February lease money factor for the car that you are interested in is much more attractive than the one that you were quoted. If you were to lease a 2006 Nissan Maxima SL through NMAC right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00123 and 56%, respectively. If you were to have your car's security deposit waived, it would increase this factor by .00015. Also, in most states NMAC's base lease acquisition fee is only $550. It appears to me as though the dealer that you are working with may be trying to mark your car's factor up to add additional back-end profit to your deal.

    Car_man
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  • Here's what I just got in Northern NJ:

    '06 Maxima SE Smoke Grey
    Sunroof
    Splash Guards
    Floor mats
    Rear Spoiler
    MSRP = $30,000..?
    Cap Cost = 0
    Lease Terms = 36 months/12K miles
    Residual = ?
    Money Factor = ?
    Cash Down = $1000
    Cap cost reduction (after fees and taxes on CCR) = ?
    Pre tax monthly payment = ?
    After tax monthly payment = $349.00

    $1000 : Cash down
    - 349.00 : First month payment
    - 175.00 : License fee
    - 35.00 : Doc fee (basically a dealership filing fee)
    - 550.00 : NMAC lease admin fee
    - 203.15 : Tax on my down payment
    = 0 : Actual cap reduction

    $349 for 36 months with $1000 out of pocket.
    Works out to Zero for Cap Reduction.
    Next time "just say no" and head for the door.
    I guarantee they'll chase you out the door with a better offer. You will get a good deal at the end-of-month if you are willing to take one off the lot. They had quite a few to pick from in Butler, NJ.
  • jyimjyim Posts: 2
    I want to leae a 06 maxima se which cost 29870.00 for 36 months w/2500 down. Asking 309/mo with 15k miles a year. Can you tell me if this is a good deal? Also, should I know anything else? First month payment is included.
  • dxcoquidxcoqui Posts: 25
    Hi Car_Man,
    Could you post the mf and residual for a Maxima SE for 36months/15000 miles. Do you know if we have to pay the acquisition fee or is it waived??. I understand that their leases are very agressive right now.

    Thanks,
  • Hello,
    I have negotiated a lease offer for a 2006 Nissan Maxima SE with all except navigation basically. msrp=$34,895
    I have not negotiated an end price but they offered a lease payment of $399 for 36 mos, 12,000 mi. Only money down would be licence and title transfer and first month payment, totalling $535. They stated the money factor is .00095 and the residual is 54%. I am at the end of my lease for basically the same car and looking at a new one to lease. Does this look suspicious to you? What am I missing? You help is much appreciated!

    Thank you!
  • dxcoquidxcoqui Posts: 25
    Can anybody post their residual value on a recent lease for 36 months and 15000 miles??? It seems like our good friend Car_man is AWOL. They are offering me 53%, but that is a drop of 3% from last month's residual. Is that possible or are they just trying to make more money???
  • silver10silver10 Posts: 1
    Hi Car_MAn,
    Trying to follow the forum with regards to a Maxima SL and what a good lease price is. I have not leased before and am trying to understand the residual value and money factor. I know that I want to spend around $350 a month with no money down. Is that being unrealistic?

    Appreciate any advice

    Thanks in advance,
    Silver10
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Congratulations on your new car, josiepusscats. Thanks for taking the time to share the details of your deal with everyone.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi jyim. I'm not sure if the $29,870 price that you mentioned in your post is this car's MSRP or selling price. It would be a big help if you would provide me with both numbers. Once I know them, I'll give you my opinion of this deal. For now I can tell you 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 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 Maxima would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all. If I was leasing this car, I would only pay its first month's payment and security deposit at signing. You can pay NMAC's lease acquisition fee and any required state fees at signing as well if you want, but that is the most that I would pay if I was in your situation.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Here's the information that you are looking for, dxcoqui. If you were to lease a 2006 Nissan Maxima SE 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 .00095 and 53%, respectively. NMAC charges an acquisition fee of $550 on all leases.

    Car_man
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This discussion has been closed.