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2013 and earlier Nissan Murano Lease Questions

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  • flightnurseflightnurse 35K feetPosts: 1,630
    WHy a 5 yr lease ? Reading everything I can on leases, that makes no sense, the most you want to do is 4, and most leases are for either 2-3 yrs. The payments can't be that much of a difference.
  • dcbengaldcbengal Posts: 4
    I agree in most cases right now the most cost effective appears to be the 39 month lease; however, as I flat out refuse to put money down on a lease, the best deal that I found on the Murano was from my CU for 5 years - going through Nissan is not an option since there are no incentives yet. I have done 5 yr leases for the last 20 years and the money I have put into the cars in tires and brakes (these are the only expenses I have ever had besides oil changes) has been far less then the money I see people putting down on 2 and 3 year leases.
  • bkanskybkansky Posts: 14
    After 3 yrs using the Intelligent key and not needing key in ignition, I won't go back to the older technology. Neither Acura MDX or Lexus RX350 have upgraded to that technology yet. The only other comparable vehicle to have that is the new Toyota Highlander and that vehicle does not excite me. The FX seats are more comfortable but the lower mileage and the vroom vroom plus the rough ride have made me reconsider and pushed me back to the 09 Murano LE AWD. Maybe this is the year I stop leasing and buy a car.
  • Car_man,

    A week ago I leased a 07 Murano S AWD
    Dealer is instaling leather
    I put 2,000.00 down and am paying $389 a month tax included.
    15K per year
    Just wondering if this was a good deal?
    MSRP 30,500.00
  • mikefurmmikefurm Posts: 6
    Dear Car Man

    On 2/27/08 I posted a message # 660.
    Could you please give your opinion or advice regarding the 2009 Murano lease?
  • jmpage2jmpage2 Posts: 262
    I can't quite understand why you would put that kind of money down on a lease, or why you (or anyone else for that matter) would spend thousands of dollars adding extra options to a leased vehicle that in all likelihood you will turn in at the end of the lease.

    Money spent adding DVD players, aftermarket leather, etc, to leased vehicles is money poured down a drain, it won't add anything to the residual of the car.

    If you put $5K down on a low residual lease you would have been better off putting down $10K cash and simply buying the car outright.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, tazgirl3.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, tigger5753, NMAC's 12,000 mile per year residual values are 1% higher than its 15,000 mile per year resids.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey rgustafs. NMAC's lease program for the '09 Murano is already a little better than it was. Its March buy rate for it is .00260, which is equivalent to an interest rate of around six and a quarter percent. Its 36 month, 12,000 mile per year residual value is 51%. You may want to ask dealers about lease programs that are being offered by independent banks. They seem to have become a lot more attractive over the past several months as the Fed's rate cuts have kicked in. You might be better off leasing through a non-captive bank.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello jmpage2. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2009 Nissan Murano LE AWD with 12,000 miles per year are .00260 and 51%, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi azpackfan. Let me begin by saying that $5,000 is way too much money to put down on a lease. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered. You would be much better off going with a zero down lease, even through it means that your monthly payment will be higher.

    Let's take a look at the other aspects of this deal. The 2009 Murano that you are interested in probably has a spread of around $3,000 between its full MSRP and its dealer invoice price. The $2,650 discount that you were quoted on this truck looks very attractive to me. Just make sure that the dealer that you are working with uses NMAC's current buy rate lease money factor of .00260 to calculate your monthly payment and you're in business.

    Car_man
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  • bkanskybkansky Posts: 14
    Hi car_man,
    My 05 Murano lease is up and I want to lease the new 09 Murano LE AWD The MSRP with options is $40,200 and the "invoice" is $36,874 per Edmunds and the dealer will either lease or sell me the 09 for invoice. But he said residual was only 49% and that's low. I buy 16K a year but usually go over. This is my 5th lease but first with such a high money factor because vehicle is so new. I found an internet site that uses USB for leasing with lower money factor (about 5% but they won't divulge) and no acquisition fee and only $196 in fees but I am not very comfortable using a non-captive lender. Too many unknowns. What's your experience with outside banks and service on the lease if there is a problem? I am considering purchase but I like leasing new technology and the Murano with no trade means high payments for 60 months and then a car with 85K and new sets of 20" tires plus maintenance costs. Any advice would be appreciated.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rich82976. You never mentioned what this truck's selling price is, so let's work up what I would consider to be a good lease and compare it to what you are paying. A base 2007 Nissan Murano S AWD has a spread of around $2,300 between its full MSRP and its dealer invoice price. Plus Nissan is providing $2,800 lease cash on it right now. Let's assume a $2,500 discount for this exercise. According to my calculations, if you were to lease a 2007 Nissan Murano S AWD that has an MSRP of $30,500 and a selling price of through Nissan Motor Acceptance Corp. right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $378. Once sales tax is added in, this is pretty close to what you are paying. The problem is that this is a zero down lease. Is the $2,000 that you paid entirely a capitalized cost reduction or is that how much was due at lease signing. If it is the amount that you paid at signing, this is a pretty good deal because it includes your vehicle's first month's payment, NMAC's $595 acquisition fee, and a security deposit.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Mike. $250 over dealer invoice is an excellent selling price for a 2009 Nissan Murano. I am surprised that you were offered such a low money factor on this model. Nissan Motor Acceptance Corp.'s current buy rate for it is .00260, which is obviously much higher than the .00112 that you mentioned. I wonder if the dealer is running your lease through an independent bank. One wouldn't think that an independent bank would step up to the plate with such a low money factor though. Editor's note :), I see that you mentioned that this deal is through an independent bank. Impressive money factor. The negotiable aspects of this deal, the selling price and money factor, look great to me. I would be happy to double check the monthly payment that you were quoted, but you never mentioned what this vehicle's MSRP is. I need it to do the calculations. Given how unusually low this money factor is, I am not surprised that the acquisition fee is about $500 higher than normal.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • aflindaflind Posts: 1
    Hi,

    I am new here and looking for information. I have a 2004 Murano that I am turning in at the end of a lease in September. The care is in very good shape has new tires and will be at least 15,000 miles under allotment in September. I was just looking over my lease and there is a $395.00 penalty if I do not buy the car when I turn it in. Does turning it in with 15,000 miles left on my allotment give me any negotiating power in getting that fee waived or should I go across the country in it a few times? Foolish me for not noticing that penalty when I signed but it was never mentioned...of course. That fee makes me so angry I feel like jacking the car up and letting it run even though the fuel would be more than the penalty. Thank you in advance for any suggestions or help.
  • flightnurseflightnurse 35K feetPosts: 1,630
    I have never heard of a lease that charges you if you do not purchase the car, are you sure its not a pently for early termination ? Also if you are going to be UNDER miles by 15K, then you have a car that is worth more then the resutal I would check to see what the Kelly BLue Book is, you well be able to use the 04 as a trade in and not have anything out of pocket..
  • mikefurmmikefurm Posts: 6
    Dear Car Man:
    In addition to my Posts # 660 & # 684 here is the info you have requested
    to check the dealer`s lease calculations:
    MSRP with mentioned in Post # 660 options - $33260.00 (according to windshield sticker). And the name of the bank offering this lease program is US Bank.

    Thanks, I`ll look forward to your result.

    Mikefurm
  • bruiser2bruiser2 Posts: 1
    Dear car man

    Just leased a 09 murano after my 05 lease was up and I this deal was for an SL with Prem. Package with no money down for 448 a month including T & T. went to several dealerships and this seamed like the best deal. Looks like US Bank helped this deal to happen. What do you think? thanks
  • Hi Car_Man - Was wondering if I got a decent lease price on this vehicle.

    MSRP 36,955.00
    2009 SL FWD
    Premium Pkg.
    Leather Pkg.
    Technology Pkg.
    Dual Panel Moonroof
    Navigation Pkg.

    Agreed Upon Price of Vehicle 33,761.36
    Amount Due At Lease Signing 1500.00
    39 Months $558.58 which is 522.04 plus 36.54 tax = 558.58

    capitalized cost reduction 671.26
    gross capitalized cost 35,055.36

    The dealer quoted me thru Huntington vs. Nissan - said they are getting better lease deals thru them.

    Would appreciate your input. And also trying to figure out how much I got it for in relation to invoice. Thank You
  • jmpage2jmpage2 Posts: 262
    You've already bought it, what does it matter now whether you got a "good deal" or not? If you wanted to know if you were getting a good deal you would have done some research before buying it.

    And no, you didn't get a good deal. While you got the car for only $800 above invoice it sounds like you got the lease with an extremely low residual and/or a not so great money factor. Additionally you cap reduced this lease by another $700. You should not be putting any money down on a lease beyond 1st month lease payment and acquisition charge, if required by the leasing bank.

    $500+ a month lease payment should be on a $40K luxury vehicle, not on a $33K Nissan.
  • I too have been considering leasing the '09 Murano but I have been toatlly turned off by the lack of reasonable deals out there. I have now turned my sights on the Infiniti EX35 or FX35. With Infiniti the money factors are excellent as are the residuals and there is more negotiating room on price. More car for less money.
  • flightnurseflightnurse 35K feetPosts: 1,630
    Regarding the lack of Nissan deals on the 09 Murano, why would they, they are selling every since one of them.

    Regarding the EX, yes Nissan (opps Infiniti) has deals on them because they aren't selling as well. A fully loaded Murano is less then a EX, its bigger, and rides betters. the FX get a redo in 09....
  • You're right...the lease deals on the Murano are poor. Also, keep in mind the lease deals are better on the SL than the LE (the residual on the LE is lower than a less expensive SL).

    My lease on my '04 Murano is up in April, but you can get an Acura MDX for a slightly higher payment than the SL and lower payment than the LE. In addition, with 15K mi/yr I get a full warranty with the Acura, but not with Nissan. However, the gas mileage appears to be quite a bit worse on the MDX.

    Don't kid yourself...all cars are not selling very well...even the Murano. If you are willing to buy you can get a good price, but Nissan is not willing to push the leases so soon after the release of the new styling.

    Drove the Ford Edge, but it is not the same. Anyone have any suggestions?
  • synsatsynsat Posts: 7
    Hi Car_man, thought I'd give you some info on what I thought was a pretty good lease deal I got on Saturday for an 07 SL FWD Murano with SL Touring Pkg with XM, mats, splash guards, cargo protector, and sunroof deflector. List $35,540. Agreed upon price was invoice less $800 or $31,694. MF of 0.00016 and residual of 46%; 12k/yr for 39 months. Zero down (I have listened to you before on this point). Being in TX, the best part was Nissan paid the tax. My only cost was first payment of $428.98. So, from my perspective, what I read earlier about deals being had on the 07's is true. Hope this helps others looking and not wanting to spend more on an 09. The 07 is still a great drive.
  • techdudetechdude Posts: 87
    I am debating between the 09 Murano and 08 RDX. I will be leasing and i can lease the rdx for no money down for 36months/12k for less than $500, including tax. I just got this quote from a local Nissan dealer for the Murano...

    09 Murano SL AWD with Leather, Tech, Premium and Moonroof packages. Also based on no money down and 12,000 miles/year.

    A 36 month lease is going to be $649.39/month and 1st payment due at signing.

    Is it just me or is something wrong with these numbers? Don't get me wrong the Murano is a nice vehicle, but it's not $650/ month nice. Any others out there with better pricing for the same model and trim?
  • jmpage2jmpage2 Posts: 262
    That lease payment seems high for the Murano, even with current terrible lease deals on the '09 model. You would need to know what price the Murano was actually calculated at for the lease payment. With the current lease deal on the RDX there is an $1800 reduction from MSRP that's automatically done by the dealer and of course you can negotiate down from that.

    You should easily be able to negotiate an RDX without Nav and with no money down for under $500 a month.

    As far as the Murano goes, the interest rate (called money factor on a lease) from Nissan is around 6-7% and the residuals are quite poor, around 50% I believe.

    RDX and MDX base models both enjoy residuals for 3 yrs 36K miles of around 57-59% currently, which means you are paying for much lease of the vehicles depreciation to drive it for 3 yrs and 36K miles compared to the Nissan car.
  • The dealerships here are loaded with '09 Murano's, 60 at last check. Quality of ride is very subjective, I personally prefer that of the EX as it is a lower more car like vehicle and is a few hundred pounds lighter, gets better mpg, also.
  • You might also want to check out the Infiniti FX35, they are dealing on those right now and they have good residuals and MF's.
  • techdudetechdude Posts: 87
    Thanks for the input all. I would consider the EX if there was more cargo space. I'll probably concentrate on the RDX at this point.
  • shifter1shifter1 Posts: 7
    And thats on an SL, what would the LE be, $700.+ I am in the same boat, i am crossed between the murano and the rdx. I just wish the rear seats in the rdx reclined and the rdx had some smoother lines, not so jeep looking.
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