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2013 and earlier Nissan Maxima Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings azzazzello. Unfortunately, what you were told is correct. The $1,500 customer cash that Nissan is currently offering on the 2007 Maxima is not compatible with its special lease program. Having said that, when the dealer told you that 42 month leases of the Maxima are the best value right now, they definitely were not correct. Nissan is really pushing 24 month leases of the Maxima SE at this time. Its money factor for 2 year leases of the Maxima SL is still the best deal, but it is not nearly as attractive as it is for the SE model. Its 42 month lease program is not very good.

    Let's work up a couple of sample lease payments on the car that you are interested in for you and see what we come up with. According to my calculations, if you were to lease an '07 Maxima SL that has an MSRP of $30,900 and a selling price of $27,000 through Nissan Motor Acceptance Corp. right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $363. The payment for an otherwise identical 42 month lease should be around $401. As you can see, two years is definitely the way to go with the Maxima this month.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm glad that you have found these discussions so helpful, eurocarlov. Unfortunately, Nissan usually does not provide any owner loyalty incentives that I am aware of on its vehicles. It will likely be pretty expensive for you to get out of your current lease a year before its scheduled end date.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings remedy. The 2007 Maxima SE that you described has a dealer invoice price of around $30,500, so the selling price that you were quoted is an outstanding deal. As steevo mentioned, I suspect that there may be some fluff hidden in your deal, perhaps in the registration fee, that is allowing this dealer to sell you the car for below dealer invoice. Even if there is $500 hidden in there somewhere, this is still a good price. I don't think that there is much room left to negotiate it. Make sure that the dealer that you are working with uses Nissan Motor Acceptance Corp.'s current 24 month buy rate lease money factor of .00016 to calculate your monthly payment and you're in business.

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  • btomasiebtomasie Posts: 9
    Hi all,
    looking to possibly lease a new SE... has the money factor rate and residual changed for the month of May? Car_man mentioned as of 4/19/07, they were .00016 and 63% respectively.

    Thanks much!
    Brian
  • what should be the monthly payment including 7% sales tax with $0 down on the SE model with an msrp of $31000 and selling price of $27000 be??
  • sagehensagehen Posts: 3
    I am looking for the same info. I am looking for a 2007 max-se with drivers package. assume 200 over invoice. what are the current money factors and residuals for 24 and 36 month. Is 24 still the best with zero down?
  • sagehensagehen Posts: 3
    Car_man do you know the program info for May? What is the current best deal 24 or 36 or 39?
  • arlenegarleneg Posts: 7
    I am waiting for my sales rep to return from vacation but was wondering, in the meantime, if I could find out what the money factor and residual amts. are on an 07 Maxima SL for May on LI, NY. I am turning in my previous lease. I would like the numbers for a 24 mo. and a 36 mo. Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Brian. I believe that Nissan's May lease program is a little different than its April program. NMAC's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Maxima SE with 12,000 miles per year are .00016 and 62%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi christina271. This car's lease payment will vary depending upon how long you lease it for and what its mileage allowance is. For now I will assume that you are interested in a 24 month lease with 12,000 miles per year. This is NMAC's most attractive term for this car. According to my calculations, if you were to lease a 2007 Nissan Maxima SE that has an MSRP of $31,000 and a selling price of $27,000 through NMAC right now for 24 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $332. This is a very attractive payment for this car.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sagehen. 24 months is still Nissan's most attractive lease term for the Maxima. NMAC'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%.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you are looking for, arleneg. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2007 Maxima SL with 15,000 miles per year are .00099 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00185 and 51%. As you can see, the SL's lease program is not quite as attractive as the SE's program.

    Car_man
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  • newcarformenewcarforme Posts: 35
    So what do you guys think of the new lease incentive they got going on...Thinking of urchasing this week...If they throw in the driver preffered package..Is this a good deal?

    2007 MAXIMA SE Auto W/mats & Splashguards Lease
    39 Months - $299/Month - $2,999 initial payment.

    Excludes taxes, title, and license. $2,999 initial payment required at consummation. (includes $2,700 consumer down payment, $299 first month payment, $0 security deposit).

    2007 MAXIMA SE Auto W/mats & Splashguards model 8217 subject to availability to qualified lessees through Nissan-Infiniti LT. $28,995 MSRP incl. destination charge. Net capitalized cost of $25,208 includes a $595 non-refundable acquisition fee. Dealer financial contribution may affect actual price set by dealer Monthly payments total $11,661.00. At lease end, purchase for $14,787.45, plus $150 purchase option fee (except KS & WI), plus tax, or pay excess wear and tear plus $0.15 per mile for mileage over 12000 miles per year. Lessee is responsible for maintenance and repairs. See participating Dealer for details. Offer ends May 31, 2007
  • newcarformenewcarforme Posts: 35
    So assuming my negotiated price is 28,500, what would my payment be based off the figures above?
  • arlenegarleneg Posts: 7
    To newcarforme, I personally do not think it is such a great deal. The $2700 down payment is the stickler. If you didn't put a down payment (which is advised not to do) it would cost you $368 a month(2700 divided by 39 =69 which would be added to the 299) Without a drivers pkg.--no deal. I don't think so anyway.
  • arlenegarleneg Posts: 7
    Thank you. However, would you be able to let me know what the nos. would be for 12,000 mi.?
  • mhuntermhunter Posts: 2
    Please tell me what is the best money factor I should expect w/excellent credit. Wanting a 24 mo./20k per year lease on a Maxima SE with a $32,295 msrp incl. dest.
    Also,what would the residual be and are there any cash incentives if you are leasing?
    Thanks for your help!!! P.S. I live in Oklahoma
  • taepo518taepo518 Posts: 5
    Does anyone know if the Maxima SE still has the same great lease program for June, as it did in May?

    In May, the most attractive lease was a Maxima SE, 24months. What are the terms for the month of June (looking to lease a MAX this month)?
  • arlenegarleneg Posts: 7
    Yes, it is the same. I am in NY and I am in the process of leasing a Maxima SE. The figures were the same as May. Excellent!
  • taepo518taepo518 Posts: 5
    Does the $1500 customer cash on the Maxima also apply toward leases?
  • 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: 35
    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: 38,515
    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: 38,515
    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: 38,515
    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: 38,515
    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: 38,515
    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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