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2013 and earlier Nissan Murano Lease Questions

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  • agadkariagadkari Posts: 5
    Hi
    I have a offer to lease a Nissan 2007 Murano SL, with 3000 down and 334 per month. After procuring the VIN # and speaking to the insurance company regarding the insurance amount the insurance company told me that the vehicle is a Nissan 2007 SA instead of an SL. Was that a typo on the end of the Insurance company or is there an SA model in the 2007 Murano ? Also does the above mentioned deal sound good? I live in NJ.
  • bpeughbpeugh Posts: 1
    Nissan just announced a new lease offer on its Murano S AWD. $2999 down and $299 per month for 36 months. Base price for the S is $27,750 with the included options the MSRP comes to $30,990. Although this Vehicle does not have all the options I want I'm wondering if its a good starting point. Any suggestions?
  • flightnurseflightnurse 35K feetPosts: 1,590
    The Security Deposit has to do with your Credit score, if you have a mid fico score of 650+ then NMAC well drop the $500 Security Deposit.

    Regarding Bank fee's, I haven't seen that in any of my Nissan Contracts, I'm wondering if that is a state to state thing, I'm in AZ.

    Tony
  • flightnurseflightnurse 35K feetPosts: 1,590
    Not really, as Nissan is supporting the Murano S AWD. Either by, a LOW money factor, or a over inflated Resdiual.

    Tony
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings andyking18. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    I would be happy to estimate what sort of lease payment you can expect to pay on the Murano that you are interested in. However in order for me to do so I need you to provide me with its full MSRP and approximate selling price. You can look up the MSRP for the truck that you want in the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get an idea of what sort of price you will have to pay by looking here: "Nissan Murano: Prices Paid & Buying Experience". Let me know what these numbers are and I'll do some calculations for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Jamroc. You mentioned the MSRP and the invoice price of the Murano that you want, but you never mentioned its selling price. 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 truck 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 glad to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi morono. $350 below dealer invoice is an excellent price for a lease of a 2007 Murano. Just make sure that the dealer you are working with uses Nissan Motor Acceptance Corp.'s current 39 month buy rate lease money factor of .00029 for the '07 Murano SL AWD to calculate your monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi howboys39. One can still lease 2006 models through Nissan Motor Acceptance Corp. through the end of the month, but Nissan is no longer providing lease support on '06s. As a result, if you were to lease one through NMAC you would have to use its standard lease program...which is not very good. Its lease program varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year to give you an idea of what this lease program is like. Let me know if you want something different. NMAC's current buy rate lease money factor and residual value for an '06 Murano SL AWD with 15,000 miles per year are .00315 and 42%, respectively. You will probably find that if you want to lease a Murano it will be cheaper to go with a 39 month lease of a 2007 model.

    Car_man
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  • new2me2new2me2 Posts: 1
    Hi Car Man

    I am new to leasing, and want to make sure I am getting a good deal. Could you please answer the following questions for me?

    Do you know what the current money factor is for Nissan?
    What the current residual is for 39 month lease Murano?
    What I should expect to pay per month on the following.

    example
    MSRP 2007 Murano SL pack with sirius $ 36800.00

    Selling price (TMV) $ 33,800.00 maybe I can get them down to $ 32800.00 ????

    39 month lease, no money down, and I live in texas.

    I do thank you for you assistance. :shades:
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi howboys39. Nissan Motor Acceptance Corp. charges a $595 acquisition fee on every vehicle that it leases. This charge is not negotiable. You can either pay it at lease signing or add it to your vehicle's capitalized cost to bake it into your monthly payment.

    NMAC also charges a security deposit equivalent to vehicles' monthly payments rounded up to the nearest $25 increment at lease signing. This charge is not negotiable either. You can either pay it, or choose to have your vehicle's deposit waived in exchange for an increase of .00015 in the money factor that is used to calculate your car or truck's monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings to the appropriately named needanewmurano. The money factor and residual value for the Murano that you are interested in look good. Now let's take a look at its selling price. A base 2007 Murano SL AWD has a spread of around $2,500 between its full MSRP and its dealer invoice price. You were quoted a discount of $1,964 on the specific model that you want. This is probably around $600 over invoice, which isn't bad. You may be able to shave another couple hundred dollars off of this truck's selling price, but I don't think that you're going to be able to get down to the $385 per month including tax that you're looking for.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Letterx. Excessive tire wear is one of the items that banks do charge lessees an excess wear and tear penalty for. Having said this, if you are only leasing for around three years and you rotate your tires a couple of times during your lease you should have enough tread left on your tires that you will not have to pay any sort of penalty. Your brakes shouldn't wear out over the course of a normal lease, but if they did I suppose that you would have to put new brake pads on your vehicle before returning it or possibly have to pay an excess wear and tear penalty for that as well.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi howboys39. It looks like you got an outstanding deal on your Murano to me. Dealer invoice is about as good as it is going to get on a lease of a 2007 Murano right now. As long as the dealer that you got your truck from used NMAC's buy rate lease money factor to calculate your monthly payment, and it looks like they probably did, this is a very good deal. Enjoy your new ride :) .

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello jjk20. Dealer invoice is an excellent selling price for a lease of a 2007 Nissan Murano. Just make sure that the dealer that you are working with uses Nissan Motor Acceptance Corp.'s current buy rate lease money factor of .00029 (for a 39 month lease of an '07 Murano SE AWD) and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new truck, morono. It looks like you got a very good deal. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Unfortunately, silverride1, what you were told is correct. The $1,000 customer cash that Nissan is currently providing on the 2007 Murano is not compatible with its special lease program. Let's take a look at the deal that you were quoted. A base 2007 Nissan Murano SL AWD has a spread of around $2,500 between its full MSRP and its dealer invoice price. You are being given a discount of $2,300 on the specific truck that you want, which looks like a very attractive selling price to me. As long as the dealer that you are working with is using Nissan Motor Acceptance Corp.'s 39 month buy rate lease money factor of .00029 for this model to calculate your monthly payment, this is a very good deal. The only aspect of it that I would change if I was doing this lease is the large amount of money that you are considering paying at lease signing. I always advise consumers not to make large down payments on leased vehicles. Those who make one risk losing it if their vehicle is totaled in an accident or stolen and never recovered. Consumers can and should lease any vehicle that they want without making any sort of capitalized cost reduction.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi wayde. This looks like a very good deal to me. The selling price that you were quoted for the Murano that you want is very attractive and this lease's money factor is right in line with Nissan Motor Acceptance Corp.'s buy rate for this term and model. If you like the truck, I personally don't see any reason not to go for it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi capflam. Chances are that you are going to lose money by trying to get out of your leased Accord eight payments before its scheduled end. You probably will be able to get a much better deal on your new vehicle if you want until you are close to the scheduled end of your current lease to get it. If you really need to get out of this lease now, you need to find out what selling price the dealer is trying to charge you for the Murano that you want. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing the selling price of the vehicle that you want, it is difficult to tell if there is any room left to negotiate. If you let me know what selling price this lease is based upon I will gladly give you my opinion of it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi agadkari. There's no such thing as a Nissan Murano SA. The Murano's trim levels include S, SE, and SL models. It looks like someone at your insurance company just made a typo.

    You never mentioned the selling price or MSRP of the Murano that you are interested in leasing. These are important numbers 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 this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle 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 these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bpeugh. Manufacturers' advertised lease payments usually leave a little meat on the bone so to speak. If you are in an area that has a decent level of competition, I would not be surprised if you were able to negotiate a better deal on the a Murano S AWD than the one that Nissan is currently advertising. Of course, if you are interested in a more expensive truck, its payment will be a little higher. If I was looking to lease a Murano right now I personally would shoot for a selling price of around $500 over invoice and then have the dealer that I am working with calculate my monthly payment using Nissan Motor Acceptance Corp.'s buy rate lease money factor, which is currently .00029 for a 39 month lease of an '07 Murano S AWD. I provided you with the 39 month money factor instead of the 36 month one because 39 months is the most attractive lease term for this model right now.

    Car_man
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