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2013 and earlier Nissan Maxima Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    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: 38,515
    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: 38,515
    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.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    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: 38,515
    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
  • drlev99drlev99 Posts: 2
    Oh, and one other thing the dealer missed that I picked up on before I signed the papers, thank god! There is currently $500 cash incentive on the lease. So, now my payment went down to $350/mo....nice! I am not sure Nissan even knew about it till I mentioned it.
  • miami13miami13 Posts: 2
    Hello All - I was offered the following deal this week and was hoping someone could review this and let me know their thoughts.

    MSRP - $33,645

    Model 3.5 SE
    Dark Slate exterior
    Black Leather interior

    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

    39 Month Lease with only first month due at signing.

    15,000 miles per year

    $417 not including taxes

    Appreciate any insight and thanks in advance...
  • Hi Dave. I see that you are considering making a $3,000 down payment on the Maxima that you want to lease. 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 would be better off going with a zero down lease.

    You never mentioned the selling price of the Maxima 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 give you my opinion of this deal if you let me know what the selling price is.

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  • Greetings miami13. When negotiating your lease on this car, make sure that the dealer you are working with uses its buy rate lease money factor to calculate your monthly payment. Nissan Motor Acceptance Corp.'s current buy rate lease money factor for the 2007 Maxima 3.5 SE is .00076.

    You never mentioned the selling price of the Maxima 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 give you my opinion of this deal if you let me know what its selling price is.

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  • puripuri Posts: 16
    i have a 2005 Altima SL that is coming to the end of the lease on Sept 21. I am considering upgrading to a 2007 Maxima, the quote i am getting for a 3.5SL with the driver preff package, leather, 6 cd changer etc with a price of 33,255. I am looking to put down 2089 down (incl title, bank and other fees), for 39 months, 15000 miles and the dealer has quoted me $389/month. Do you think this is a good deal?

    would appreciate your inputs as i need to move on this ASAP.
  • puripuri Posts: 16
    the quote above includes taxes (i am a resident of NJ)
  • Thanks Car_man
    Unfortunately my girlfriend couldn't wait and went for the lease. But I still appreciate the advise, and we'll know better next time. My car lease is up next summer.
    -Dave
  • You're welcome, Dave. Let me know when you have any questions about the next vehicle that you want to lease. See you around the forums.

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  • CarMan,
    Can you tell me what the Lease Money Factor Rate for a 2008 3.5 Maxima SE is for 36 or 39 months? (which ever is better) Also, what is the depreciation factor/pecentage for the same vehicle for the same time period?

    Thanks,
    Bob
  • jw3101jw3101 Posts: 1
    Seeking quotes on a 2008 Nissan Maxima 3.5 SL w/automatic trans, super black exterior with a black leather or frost leather interior. Options to include: splash guards, power glass moonroof, platinum edition package, rear spoiler and carpeted floor & truck mats. We want to lease for 39 months, 15K miles per year for a total of 48,750 at lease end, no money down and no security deposit (we are coming off a 2004 Murano lease and will not need a security deposit)

    I built the car on Nissan's website and see that the MSRP would be $33,695, I am shopping around and would prefer to stay with Nissan if the right offer comes in. I have received several quotes and am still awaiting others - I received differing info. on incentives - anywhere from $2k to $2.5K

    1st response is $33,795 with all the above options and leasing conditions with a payment of $504 per mo. He stated the money factor is .0062 and the residual as $18,249 at the end of the lease instead of a percentage.

    Am I correct in my feeling that there is still room to bargain? I figure between $440 - 450 per mo. is about right.

    Thanks!
    Jim
  • Hi car_man, I was just wondering if there was a point in leasing a 2007 Maxima SL for 24 months at 15k/yr? Would the 2008 be a better deal? Thanks for your help!
  • I am interested in the '08 Maxima SL/or SE equipped with leather and the platnium package MSRP approximately $34500.
    I want a 27 or 36 month lease with 12K miles yearly.I want my initial payment to include 1st month(with tax) reg.&bank and only required fees no cap.reduction on my part .What would be a fair monthly payment at this time?
    I'm in Massachusetts and want my monthly to include the monthly tax
  • Hi
    I was offered below lease deal on a 07 Nissan Maxima V6 SE. The sticker price for this car is $28,995. I believe this car has all the goody options excluding the leather seats and Navigation. I think it is a good deal but I think it can be lower with no down payment. Could you please let me know?

    15k miles/yr
    $14,500 residual cost
    Money factor at .091
    $450 down (drive off)
    39 months, $365(including tax) per month.

    Thank you for your help. Much appreciated!
  • jap14jap14 Posts: 1
    I'm trying to find out what a good price to pay for a 36 month lease on a $33,325 msrp with no money down. I was quoted $522.00
  • ncelkncelk Posts: 22
    I would expect that with the 09 Maxima coming out in the next 6 months and the short production run of the 08 Maxima, you should be able to negotiate a good rate on a lease from now until the 09 models come out.
  • Just thought I'd share my experience; a friend works as the 'Internet Rep' for East Coast Nissan in NJ...

    Maxima SE, with sunroof and "Sensory package" (I really wanted leather) - car listed for $32,600.

    My deal was:
    12k miles/yr
    39 months
    $315./month, all-inclusive
    $3515 down, which includes all the jazz: fees, DMV registration, 1st month payment, taxes, etc. Was ok with this, as I wanted a low monthly nut ~

    Might not be the cheapest deal here, but I thought it was pretty fair :D

    Good luck on your hunt, and thanks to everyone for all your help!
    Best,
    Aurelio
  • Because the info I got from this website on leasing a couple of years ago, when my wife's 07 maxima lease was stolen two weeks ago, we got $2000 from insurance AFTER paying the lease out! And we put ZERO money down on the lease. Not even first month. Nothing but taxes and title fee.

    I am looking for the lease numbers right now for a 2008 maxima. She wants the same car and wants it FAST.

    She is a tier 0, nmac credit preapproval. (This is her third car with them).

    So I REALLY like this service and appreciate it.

    Thanks for a speedy reply.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new Maxima, Aurelio. I can't believe how much its lease payment has come down since it was first introduced. It is a heck of a nice car for just over $300 per month. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts in your recent dealer experience. Enjoy your new ride :shades: .

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey rwalkeredmund. I'm glad that everything turned out so well for you after your car was stolen. Heck, if I could get two grand for having my leased car stolen I'd go park it in the street with the keys in the ignition right now ;) . The lease payment for the new Maxima that you are interested in will vary depending upon a number of different factors, including its MSRP and selling price, how long you lease it for, and what mileage allowance you need. The best way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that gives you a price that you are comfortable with calculate your monthly payment using your car's buy rate lease money factor.

    The market for new vehicles is pretty slow right now. If you are in an area that has a decent level of competition, you should not have any problem finding a dealer that will lease you a Maxima for a couple hundred dollars over dealer invoice and then subtract the $550 dealer cash incentive that is available on leases of this car. You can look up the invoice price of the exact model that you are interested in by visiting the New Vehicle Pricing section of Edmunds.com.

    Once you arrive at a selling price that you are comfortable with, you need to make sure that the dealer uses this car's buy rate lease money factor to calculate your monthly payment. Nissan Motor Acceptance Corp.'s buy rate varies by term. Its current 36 month buy rate is .00016 for the '08 Maxima SE.

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