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2013 and earlier Nissan Murano Lease Questions

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  • Please see my comments from about a week ago. I have a 2007 SL AWD as well with the touring package. My MSRP was $36,820 and the Gross Cap Cost was $32k plus change. I am paying $360 for 39 months, 12k a year. I put down $3200 which included first months payment, upfront sales tax, acq fee plus tax, cap cost reduction (down payment) plus tax, tire fee and registration fees. My lease ends around same as you. I am getting inquiries already from Nisan to lease again. I would WAIT until your lease expires. The reason is that the 2011 models will be coming out around late sep to early oct and in the summer they have to start unloading their 2010 models to make room. The deals get better as the summer progresses. If you try and lease a 2010 Murnano now, you prob will not get a great deal. The way to get the lease under $400 a month is to make sure you get the Gross Cap Cost (agreed amount for the car) as close or under the dealers MSRP. Like you, I would be subject to the loyalty program by leasing another Murano so there is def some wiggle room there. Dont let the dealers tell you that a certain color is not available either. They swap from other dealers every day and they can always order it for you if you shop in advance. Go to your local car show if they are having one or stop by a Nissan dealer to "check out" the Murano but dont sit down with anyone until you area about 45 days before your end date on the lease. The Money factor and residual change slightly each month. If I were you, I would lease a SL AWD again. The LE is not worth the extra few grand. And the residual is too low and the Money factor is not good enough. Most dealers have a healthy inventory on the SL's because its the most popular trim level so keep that in mind.
  • Thanks for your detailed reply and it looks like you got a screaming deal on your Murano SL also. We do get alot of run-around, calls with car dealers especially at this time of the year and in this buyers market. If we lease another loaded SL, at this time it would be like paying $80+ for the same car. The only important features upgrades for us are auto lift gate, rear heated seats, we do not want/care about moon roof or NAV and where we are AWD is standard.

    It does appear that S and SL trim levels have a better residual. If the money factor changes, preferrably down, couldn't an LE residual be brought up? For e.g. our '07, SL has a (relatively low) 51% residual but our money factor was/is 0.000375 (execeedingly low).

    Every dealer we have visited has plenty of S but almost none of the SLs, LEs. We know of two in the area but they won't budge on the current offers. We have plenty of time and in reality if we come across another brand that gives us more car for about the same money we will go for it. I agree that the best time to lease a car is just before the end of the month and just prior to the new models arriving. Thanks for your feedback.
  • kyfdxkyfdx Posts: 28,027
    Higher trim levels almost always have lower percentage residuals.. This holds true for almost every make and model..

    Getting a good lease deal is highly dependent on the incentives offered by the captive financial companies of the car manufacturer. Whether it's unrealistically high residuals, or below-market money factors, or straight out manufacturer-to-dealer cash, that is what helps you get a low payment. If the leasing institution is offering a good program, then how tough a bargain you drive with the dealer will decide if you get merely a good lease payment, or a screaming bargain.

    The lease deals on '07 Muranos were very good... on the new models, not so much... Good lease deals, in general, are few and far between, these days. Something about a credit crisis... maybe, you've read about it? ;)

    Sometimes, you have to be willing to look at competitive models, if you want to keep getting low lease payments. (though, right now, I can't think of any low leases on crossover SUVs).

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I do not recall what the money factor was on my 07 Murano SL AWD but again, the MSRP on the 2010 is about $700 more on the MSRP before you negotiate. If the dealers are willing to give you a decent Gross Cap cost then that is the starting point because the residual % now is better than it was in 07. So if the MF is a little higher than it was in 07, essentially you should be paying close to what you are paying now. It really comes down to how much the Gross cap cost is because that is the key number in the lease formula. The cap cost reduction will be your "down payment" and that is deducted from the Gross cap cost to give you the adjusted cap cost reduction which is then part of the formula and subtracts out the residual which is better today than it was in 07. If your a second time Nissan leasee, the incentives should be better. Now, every state and every dealer will have different inventory levels but here in the NY metro area there are plenty of dealers to go to. Its all math here. The deals right now are just "ok" but fast forward 5 months from now and the figures will be close to what Iam paying now, $360/month for 39 months @ 12k year. Sales tax was paid "upfront" meaning I paid that at closing before they delivered the car. I get invoiced every month by Nissan for $360. That is not a screaming deal, its a fair deal when you add back the numbers to what I would have paid for it if I purchased the car. Around $36k and change plus local sales tax. A very good deal but not "great".
  • Hey everybody. I've been interested in possibly leasing a 2010 Nissan Murano. As you can see, the lease I have now (2007 Infiniti G35x), will be ending beginning of January. I was thinking if I do end up getting the Murano, I was going to see what they have leftover of the 2010's in November. I know there aren't much, if any changes to the 2011, but I'm sure they might want to get the 2010's off the lot. (I did that with my 07 Infiniti). Does anyone have any advice whether this might be a good idea and what are my chances of finding 2010's in November of 2010? Thanks!
  • For a loaded 07 SL Murano AWD (touring package), if you pay $360 a month lease is pretty good deal. How much down did you pay? We paid $3K down, monthly payment is $379 + $26 tax = $405.

    See my previous comments last week. Here in Utah the price is outrageous but also because SL and LE are rare. A dealer called us this week to offer LE Murano w/o Nav for $600/mo, $3K down. He said he could do an SL loaded for $450/mo.

    If we need to go over $500/mo we might as well start looking at GLK, MDX or Touareg. Why paying more for the same car.

    Just hoping the price will be better when our lease is due in July.
  • Just leased a 2010 Murano SL MSRP 36,300 for $429 a month including 6.25% for state taxes. Mileage 12,000 miles 39 months. Total up front $595 acq fee,$ 295 doc fee, title& license $125.00 and first month $429.00. i think i could have done a little better since this is the end of the month, but they had the color I wanted.
  • steevosteevo Posts: 331
    edited February 2010
    forman350 .....Your understanding of lease is a little twisted. Your advice is generally good but you are making a Capital Cost Reduction so your numbers are off. You have bought down the selling price of the car up front. Adding your down payment into equal portions across the term will give us the TRUE monthly for your lease. The selling price used in the lease IS the Capitalized Cost. The Gross you are talking about is that number PLUS extra money you decided, or were talked into paying.
    The residual is FIXED because it is based on the MSRP, so the lower the negotiated selling price, or Capitalized Cost, the better the lease. The Gross is the selling price PLUS all the bs they got you to pay, NOT the other way around. There is no way to know if your payment was a good deal, without knowing how much money you paid up front as a cap cost reduction.
    You are always better off negotiating the lowest selling price possible, THEN tell them you want to lease the car using that number.

    And to Healthyheart, you want the capitalized cost to be WAY under the MSRP, not equal or a little less. If that were the case you got no deal at all. I want the capitalized cost as close to the lowest selling price as possible preferably UNDER invoice :D
  • jaxbuyerjaxbuyer Posts: 8
    Hi Carman! Please post the new March lease numbers for a 2010 Murano SL 2WD with 15,000 miles per year.

    Also, you normally quote a 36 month lease, but the dealers only seem to offer 39 months. Are both 36 and 39 options always available? I assume the dealers go with 39 because it's better for their bottom line.

    Thanks you!
  • I am in NY so everything is always expensive and the sales tax is high. You should check out this site: www.truecar.com. Its great. The way I did my deal was that I did the math backwards. If you want to pay lets say 32k for the car, you have to basically add up the payments plus your cap cost reduction plus the residual and you arrive at the final cost of the car plus the local sales tax. I only put down $3200 which included the first months payment, the sales tax paid in advance, acq fee which was like 595 just by itself plus tax, the cap cost reduction plus tax, the tire fee and the registration fees. sales tax alone is like $1700 in that 3200 number. So, I pay the sales tax with my "down payment" to the dealer so its not lumped into my monthly payment. $360 for 39 months is very good but the math comes back to the car costing if I had bought it instead of leasing it to around $32k and change plus tax. Thats without any incentives that I was aware of or is in my lease contract. By the summer, the prices are going to come down a bit simply because its getting closer to the 2011 model year and that means they have to clear out the lots. Try to stick to basic colors for the exterior so you have a better chance of getting the deal you want and the inventory levels are better with silver, white, black, graphite. The red and blue are not as popular.
  • zeus1zeus1 Posts: 5
    I'm needing the MF and Residual % for 2010 Murano SL AWD for 39 months and 15,000 miles per year
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure do, rdxer. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2010 Murano LE AWD with 12,000 miles per year are .00221 and 52%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey jaxbuyer. Nissan Motor Acceptance Corp.'s March buy rate lease money factor and residual value for a 36 month lease of a 2010 Murano SL 2WD with 15,000 miles per year are .00221 and 53%, respectively for consumers who qualify for its top credit tier.

    You can always lease Nissans for either 36 or 39 months. Dealers don't exactly make any more money on 39 month leases than they do on 36, but 39 month terms will usually have a slightly lower payment than the 36 month term will because you get to spread out the large initial depreciation hit that new vehicles always experience out over three additional payments. Lower payments make it more likely that consumers will bite on deals.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zeus1. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s March buy rate lease money factor and residual value for a 39 month lease of a 2010 Murano SL AWD with 15,000 miles per year are .00221 and 54%, respectively for consumers who qualify for its top credit tier.

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

    Thank you for posting the March numbers. I am currently in negotiation with a dealer North of Boston for a lease of a 2010 Murano SL AWD with premium package. I am getting out of my 2006 Murano lease (maybe or may purchase) but I don't think I did a very good job my first time around. Can you please advise me of my current offer, I feel as I am being talked in a circle...

    Murano SL AWD, 15k miles, $2500 out of pocket, $397 after taxes $422 per month for 39 months. They are telling me the following for details:

    Cap cost - $32,422.81 then a $750 rebate making it $31,672
    Residual - 54% $17, 499.40
    Money Factor - .00221

    Invoice - $33,080, dealer holdback $926 = $32,154

    Any help you can offer would be much appreciated.

    Also, if you have any thoughts about buying my current Murano for $17,752.01. It is a SL AWD with 62k miles. Needs all four new tires which will run me about $750.

    Thank you!
  • jayriderjayrider Posts: 3,263
    If your tires are shot, they will charge you for new ones -- may wave it if you lease a new one. If you buy, you put the tires on anyway. How many miles are you over on your allotment? You will pay for that as well per mile. See your lease.
  • Hi jayrider,
    Yes, tires are dead. I was not clear in my original post. I have 52500 for my original lease then extended 6 months and have a total of 60k. Would end up paying $450 in miles.
  • Buy used tires for your lease turn in. Don't waste the $ on new tires.

    I just turned in a Murano. I had 1 bad tire. Went to a used tire place (that is also online) and bought oem with 5/32 (more than I needed) for $30 plus mounting.

    I went to: http://www.bestusedtires.com/. I search their prices on the internet and then drove to the place in Bethlehem PA. There are probably places near you that offer the same service.
  • igaboigabo Posts: 2
    I have seen a few purchase comments posted in here and figured its worth asking for any advice.
    We are considering the following offer:
    2010 Murano SL AWD
    Premium,Technology, Navigation.
    MSRP $39,800
    Sale Price: $35,200
    Out the Door total cost $37,000
    60 month purchase at 2.9%

    There is an additional 1250 rebate available however you loose the 2.9% financing and it jumps to 4.9% which works out to be be worth it.

    We have until the end of this month to turn in our current Murano. Should we hold out and wait for a better offer or move forward while they have what we want?
  • igaboigabo Posts: 2
    meant to say:

    There is an additional 1250 rebate available however you loose the 2.9% financing and it jumps to 4.9% which works out to NOT be be worth it.
  • clasysclasys Posts: 26
    edited March 2010
    Can somebody please confirm what looks like an odd residual spread between Murano S and LE in march?

    According to north-east lease special ad on nissanusa website, as seen 03/15:

    " 2010 Murano S AWD w/ Splash Guards & Mats model 23210 subject to availability to well qualified lessees through Nissan-Infiniti LT. $30,760 MSRP incl. destination charge. Net capitalized cost of $25,483 . Dealer contribution may affect actual price set by dealer. Monthly payments total $11,661.00 At lease end, purchase for $17,533.20 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. "

    S' Residual = 57% for 12,000 mi: lease end purchase price * 100 / MSRP

    From CAR_MANs posts:
    SL - 54% for 15,000 mi (55% for 12,000?)
    LE - 52% for 12,000 mi

    Can residual be that much different between trims on same model or are my calculations for S' just wrong? I though this is the legitimate way to calculate residual...

    Thanks in advance
  • I saw the print out of the money factor and residual value from a Nissan dealer here in Salt Lake and I was completely blown away when I saw the residual value of an S is much higher than an LE (Feb rate). Logically, a more well equipped car should have a higher residual value, but maybe not for a Murano. The last number I got for an LE (Ken Garff Nissan, Salt Lake):

    MSRP $39,165 (LE - no nav)
    12K per yr
    39 mo
    $3K down
    51% residual
    0.00221
    Lease = $ 505/mo plus tax

    Dealer said selling price = invoice (never told me exact price). Still too expensive, in my opinion.
  • clasysclasys Posts: 26
    edited March 2010
    Yes, it definitely is expensive for murano IMO, more like loaded RX350 payment. I am looking to replace my 2007 Murano SL AWD with Touring (37,5K), for which I'm paying $369/mo with 3K out of pocket; just got a letter from my local dealership about winter pull-ahead lease program, they claim to waive up to 6 payments. I was thinking about another SL with leather/premium/technology (36,2K MSRP), and I wouldn't even look at LE, but it appears now you can't get memory seats on SL, not even with Technology package. If you want memory seats you need to opt for LE. I find memory option very useful, but with numbers like that I might as well wait it out and lease something more appealing... Residual-, money factor- and option-wise. Sad though, NMAC will be loosing another customer and I do like Murano a lot.
  • steevosteevo Posts: 331
    It is normal for the higher trim models to have a lower residual. This is because when a car ages, the difference in price between a loaded model and a base model is not as great as when the cars were new. For example many cars charge say 1500 for dvd system... On a 3 or 4 year old used car that same system is almost worthless. How much extra would you pay for an LE over an SL if looking at a 4 year old used Murano with 50000 miles on it?
  • sgordensgorden Posts: 4
    My 39 month lease is coming to end. My murano has 28K miles on it - only drive it around town - mint condition. My lease payment is $421 a month. I put $3K down. the agreed upon value, tax acquisiton fee and maintenance contract totaled $36435. The option to purchase is 18783. Depreciation and amortized amounts 15525.

    this is my first leased car and I'm already uncomfortable thinking about what to do? Is $18,783 a fair price? I really do like it alot. However, I also am considering leasing a less expensive car - like the maxima. I don't want to put any more money down.

    Lastly - we experienced a really bad year (2 yrs ago) and our credit rating will be nowhere near what it was when I leased the car... how will that play into this? Any advice would be very appreciated. I've read these boards but am not understanding all the nuances of turning in a lease.
  • Hi everyone,

    I was looking to lease a 2010 AWD Murano SL/Nav for a long time. My current Murano lease finished in January, and I have extended the lease, ending up paying a higher monthly (due to tax increase). So my original payment was 389/m and for the extension I have been paying 424.
    I went today to the Dealer and put a deposit on the following deal:
    2010 AWD Murano SL / Nav, 12K/year, 39month lease.
    MSRP: $39,460
    Selling price: $34,979
    mf: .00221
    Residual: 55%
    ---
    No down payment, will have to pay taxes/first m/deposit/destination charge/- total of $2,200
    Monthly payment: $440.

    WHen I calculated the monthly with the above numbers it came to $465.53.
    Please tell me if this is a good deal? I gave a $1,000 deposit, and will have to go on Tuesday to pick up the car. Just want to make sure that everything is in order...
    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited March 2010
    Hi bostondriver2. The money factor that you were quoted looks good. It's right in line with NMAC's buy rate for this model. The selling price that the dealer is giving you looks good as well. Any time that you can lease a vehicle for less than dealer invoice minus the available incentives you're doing a good job.

    I am not familiar with the current market value for used Muranos, but you should be able to get a good idea of whether your vehicle's purchase option price is a good deal by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    If your vehicle's purchase price is less than or similar to its current value on the open market then you may want to consider buying it. If not, walk away.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • clueless_girlclueless_girl Posts: 18
    edited March 2010
    Carman could you please comment on my post? I negotiated from $465 a month to $440, but I just realized that I will have to pay the sales taxes (NY) on top of it :( So I'm pretty sad. Do you think it makes sense arguing with the dealer about the sales taxes (making sure I pay ONLY for destination charge/preparation fee and keep the payment at $440) or swallow it and pay the the sales tax upfront? Please let me know, since they called just now - the car is ready for me to pick up.
  • clueless_girlclueless_girl Posts: 18
    edited March 2010
    I just spoke to the dealer. the total fees were $3151 (taxes, destination, prep fee, title, doc fee what is that?!) he agreed to discount $300 off that. Please let me know if this is a good deal, or I should break it immediately?
  • jayriderjayrider Posts: 3,263
    They left the destination out of the price paid ? very clever --- that makes your deal $800 or so worse. Figure taxes at 2k add 800 -- there is a bank fee on top of that. Actually pretty decent -- if you need to grind off a few hundred more have at it but don't expect much more.
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