Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier Nissan Maxima Lease Questions

1333436383945

Comments

  • antwan125antwan125 Posts: 5
    Car man, i'm being quoted a 11 Maxima SV with premium & technology pkg with a money factor of .0088 and a 58% residual...i'm looking to put nothing down and get it for $359 a month plus fees...I would prefer to pay out of pocket fess and taxes to keep my payment under $360...they're stuck on $380-$390...is this worth getting or should my money factor be higher and residual lower?
  • antwan125antwan125 Posts: 5
    Car_man, the dealer wants me to pay them a $400 delivery fee. The vehicle I'm looking to purchase was found roughly 260 miles away and they are claiming I should pay the cost to get the vehicle to me.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings fat_professor. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2011 Maxima SV Premium with 15,000 miles per year are .00098 and 58%, respectively for consumers who qualify for its top credit tier.

    the $1,500 cash incentive that is available on purchases of the '11 Maxima in your area is not compatible with its special lease program.

    You definitely should wait until at least the end of this month to get a new Maxima if you're interested in one. I have heard that Nissan is going to roll out some enhancements to its programs during the last week of May.

    It's difficult to say what the deals will be like in September and October. It will depend upon a number of factors including how quickly production at the Japanese manufacturers gets back up to speed after the quake, what the economy is like, etc...

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi antwan125. The lease program that you were quoted looks about right. Th only way to get a lower monthly payment would be to negotiate a lower selling price. If You really should wait until the end of May to lease if you want a new Maxima. I've heard that Nissan is going to roll out an enhancement to a number of its programs, potentially including the Maxima lease program in a week or two.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Well, antwan125, the dealer can charge you whatever they want I suppose. If you don't want to pay the delivery fee, you can always search the inventory of other local Nissan dealers to see if you can find a car that's close to the one that you want that won't have to be swapped for.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ahashmiahashmi Posts: 71
    Hi Car_Man,

    Are there any changes in the lease deals for the Maxima during the end of May as you had stated earlier? I know there is an extra $500 bonus cash for lease on top of the $1000, I was wondering if there were any MF or RV changes?

    Also, below are my calculations, let me know if they look right:
    MSRP: $37855
    Sale Price: $31452 ($1000 included)
    Mi/yr: 12,000
    RV: 59%
    Term: 39
    MF: .00098
    Tax: 7%
    Out-of-Pocket: $1200 (fees)- $500(Bonus)=$700

    Monthly: $306.55

    Is this right? and is it the lowest I can go?
  • ahashmiahashmi Posts: 71
    Also, I'm being quoted by dealers saying RV for a Maxima 3.5SV Sport with Monitor is 1% lower than Premium Package, a 57% RV.

    Is there any way of verifying this?

    Please help someone, Car_man!
  • mattex59mattex59 Posts: 7
    ahashmi, your numbers looks good but right now it seems like the supply is low and demand is high. On a SV with a Sport package the lowest I could muster is $409 on a 15/K lease. I walked I think I can do better. Though it was hard, both me and my wife really liked the car.

    I presented my math to the dealer and came up with a lower number but he wasn't budging. We're thinking of taking a break and shopping at a different time of the year, this seems to be not the time to score a great deal.

    p.s. I was told there are NO REBATES for leasing. The $2000 worth of rebates is for purchase, or so I'm told. What are the rebates you are talking about?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ahashmi. I see that you are already aware of the additional $500 bonus cash for Memorial Day. I don't believe that the Maxima's money factors and residual values have changed since the beginning of the month. The numbers that you mentioned look right. The selling price looks good, too.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    What you were quoted is correct, ahashmi. The residual values for the Sport model are indeed 1% lower than they are for the Premium model Maxima.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey mattex59. There's $500 Memorial Day bonus cash on the Maxima everywhere in the country. Some areas have another $1,000 on leases, the Eastern and Midwestern U.S. It sounds as though you are in a part of the country that the cash incentive on leases is not available in.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mattex59mattex59 Posts: 7
    Car_Man, I'm in Atlanta, GA. Internet sales manager said that the price they posted on the website {the price that got me to drive to the dealership in the 1st place..} was including a $2000 incentive from Nissan but only for cars being sold, not leased. So the price immediately went up $2K before we even sat down to deal any numbers.

    Thanks,
    Matt W.
  • ahashmiahashmi Posts: 71
    edited May 2011
    Thanks Car_Man for the help.

    So I finalized a deal, and picked up the car yesterday. Here's the details

    2011 Maxima SV Sport with Monitor, Mats, and Splash guard in Metallic Slate
    MSRP: $38030
    Price: $30644
    Monthly: $300.88 (asked them to level it at $300, mad stingy and didnt)
    Term: 39 months
    Down: $2300 (including all fees, TTL, and first month)
    Miles: 12k/yr
    Credit: Excellent
    POM: 36%

    And I negotiated 2 yr, 30k mi free maintenance

    I know people said POM should be <40%, and I was speaking to all other dealers asking if they could beat it over the wknd, the closest people got was $333/mo and $2000 down.

    I think I could have done slightly better if the market wasn't bad, but I'm not complaining. It really pushed my budget as I didn't want to pay this much, but they gave me the car for an extended test drive and my family loved it when I brought it home, so I just went for it.

    What do you think??
  • ahashmiahashmi Posts: 71
    Btw mattex59, there is $500 lease incentive on the Maxima for your region, it actually says it on their website too.

    If you want you can buy the car in Jersey and take a road trip to GA lol.
  • biggbrotherbiggbrother Posts: 42
    I have no idea how you are getting these numbers. I used the Edmunds Lease Calculator at http://www.edmunds.com/calculators/car-lease.html and based on your numbers it's giving me a a monthly payment of $786 inc. tax. This is assuming a 57% residual value as you stated exists for the SV Sport model, for 39 months, and 12,000 miles per year, and money factor of 0.0098, and all fees paid upfront, plus your $1000 down.

    Is the Edmunds Lease Calculator acting shady today?

    Plus, although I appreciate the data, is it possible for CarMan to just post some numbers for some of the most popular terms and trims? It is getting rather confusing here with people posting numbers for 39 months and 36 months and Sport Models and Premium Models, and then finding out that the Sport model has a lower residual value than the Premium model, etc etc. people seem to be mixing and matching the terms and trims and coming up with different numbers.

    Specifically, what are the terms for a 2011 Maxima SV with just the Sport package for 39 months and 15,000 miles per year? How about 12,000 miles per year? How do these two figures change if the lease term is dropped to 36 months? Is it worth it to just sign for the extra 3 months?
  • ahashmiahashmi Posts: 71
    edited May 2011
    The problem with the lease calculator is that it does not allow you to put both the MSRP and Selling price of the vehicle. Since one of the factors in determining the monthly is taking [(Selling Price)-(MSRP*RV)], there is no way you can do that in the calculation. Best calculator is the lease guide calculator (http://www.leaseguide.com/calc.htm).

    Its better to sign up for the extra 3 months even tho the RV drops 1 percent, but you're spreading the huge initial drop over the extra 3 months.

    What you're looking for is:

    2011 Maxima Sport
    Mi/yr: 12,000
    Term: 39 months
    MF: .00098
    RV: 57%

    2011 Maxima Sport
    Mi/yr: 15,000
    Term: 39 months
    MF: .00098
    RV: 56%

    And btw, I already got my car at those numbers. They're a little off from my calculation (+/- $1-4), but close enough. I actually have a spreadsheet that does the calculation that I don't mind sharing but I don't know how to attach it here
  • mattex59mattex59 Posts: 7
    I've done all my calculations by hand. I researched the formula, learned the numbers. One advantage is, I can sit down with the sales manager face to face and show him how I'm coming up with my number, instead of saying "a website I visited says so..."

    I broke the Maxima Sport SV lease package down for a sales guy couple days ago and told him that I was pretty sure I was right on with my numbers but was prepared to be wrong. He went quiet pretty quick. Pretty much right there I knew that he knew that he wasn't talking to a sucker. We never agreed on a deal because he wouldn't show me how he was coming up with HIS numbers, saying they just punch it into the computer.

    I wasn't about to hand them a $2300 premium over the course of a lease, especially when I came in there for a SPECIFIC deal they were advertising. Which is pretty disappointing considering they pretty much pulled the good'ol bait and switch on me. Get you to the dealership, switch up the pricing.

    Anyways, was hoping for a phone call since today is the 31st but I guess it's not gonna happen. Business must be good. Onto another dealer we go...
  • gs42gs42 Posts: 54
    May sales numbers were down 32% for the Maxima. About October/November may be the time to make a lease deal. I have a 2009 leased now and hope they will be dealing about then. Last year a lot of great deals were made near the end of the calendar year.
  • Thanks ahashmi,

    Could you e-mail that spreadsheet to messer202 AT gmail.com ?

    Thanks for providing the numbers. At least now I have something solid to go on. I'm a little shocked at the residuals on the Maxima. They seem a bit low. I thought Maxima just won a JD Power award or something for best resale value.
  • ahashmiahashmi Posts: 71
    I will send it over soon, let me just clean up the format so it's not confusing.

    Maxima has really good residuals IMO, the only problem is that when you start pricing a niche trim and package, it hurts the residual value because not many are looking for that. So Maxima with the highest residual I believe is about 61%.
  • striper72striper72 Posts: 12
    Hi Car man, do you have he June lease numbers on the 2011 Maxima SV for a 15,000 mile/36 or 39 month lease? Also, is Nissan offering any incentives on leases in the NY area for June? Thank you.
  • antwan125antwan125 Posts: 5
    Would you mind sending me your spreadsheet...antwan125@yahoo.com
  • antonio27antonio27 Posts: 13
    Hello Ahashmi can you shoot me that spreadsheet as well? My email address is antonio.iribarren@yardi.com.

    I got the bug to lease a Maxima and Edmunds is the first place I go...

    thanks so much...
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi striper72. Nissan Motor Acceptance Corp.'s June buy rate lease money factor and residual value for a 36 month lease of a base 2011 Maxima SV with 15,000 miles per year are .00092 and 58%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39 month lease are .00092 and 57%.

    As far as cash incentives go, in June Nissan is providing $1,000 on leases of all Maximas in your area plus an additional $500 on vehicles that don't have navigation.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ahashmiahashmi Posts: 71
    Just the change in MF I lost $4/month....which is like $131 over the term. Ah well...darn
  • ahashmiahashmi Posts: 71
    I emailed people who requested it, I also upload it to this link in case others are also looking for it.

    If you have any questions, let me know.

    http://www.filefactory.com/file/ccbac57/n/2011_Car_Lease_Calc.xls
  • sanishsanish Posts: 66
    For 2012, the iconic Maxima receives a refreshed exterior &#150; with a new front grille design, new rear combination lights, and new 18-inch and 19-inch aluminum-alloy wheel designs. Inside, the roomy Maxima interior&#146;s enhancements include a new meter cluster illumination color (white), new Dark Piano-hairline trim, a new Atlantic Cheery wood tone trim and a new Beige interior color. There&#146;s also a new audio segment display and new audio/HVAC knob design.

    The other big news for the 2012 Maxima is the addition of a special Limited Edition Package, which features smoked appearance headlights, High Intensity Discharge (HID) Xenon headlights, a compass in the rearview mirror, 18-inch aluminum-alloy Dark Hyper Silver colored wheels, a rear spoiler, dark satin chrome front grille, fog lights, illuminated kick plates, outside mirrors with integrated turn signals and metallic trim on the center cluster, center console and door armrest grips.

    In addition, two new exterior colors are offered for 2012: Java Metallic and Dark Slate.
  • ahashmiahashmi Posts: 71
    I really want that white LED cluster for the dash, that's one thing I don't like about the interior. I'm not sure about the new wheel designs yet or the lights.

    I'm quite upset, they made the Limited edition exactly what the SV Sport offers, for half the price...whack.
  • Are there any pictures available of the 2012 or indications of exactly when it should become available?
  • ahashmiahashmi Posts: 71
    They said late summer
This discussion has been closed.