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2013 and earlier Nissan Murano Lease Questions

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  • wardellwardell Posts: 5
    Hi Car_Man, Could you tell what NMAC's July buy rate lease money factor and residual value for a 36 month lease of a 2011 Murano SL AWD with 12,000 miles? The dealer is trying to convince us to go with a NMAC 39 month lease. Your thoughts? Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, wardell. NMAC's July buy rate lease money factor and residual value for a 36 month lease of a 2011 Murano SL AWD with 12,000 miles per year are .00041 and 50%, respectively.

    I personally would not have any problem going with a 39 month lease of this car. I actually have leased a Nissan for 39 months before. NMAC's numbers for 39 months are .00041 and 49%.

    Car_man
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  • Hello! Looking to lease a 2011 AWD Murano SL with navigation, cargo mats, splash guards, cargo cover. MSRP 41Kish and sale price 35,500. 39 month lease with 0 down is 534/month. How much do taxes/tags etc run i.e. how much will I have to pay up front even with the 0 down? He mentioned somewhere around 3 grand but I haven't seen final numbers. Does that seem right? please advise. Thanks!
  • olimaziolimazi Posts: 9
    edited August 2011
    Hey everyone,

    We are in a 2009 Murano SL AWD lease for another 11 months yet and recently we got a letter from Nissan regarding the Bottom Line Sales Event and Lease Loyalty promotion.
    Basically they we would turn our car in early, they would take care of the remaining payments, and if we lease another Nissan they'd waive $500 in ware and tear and we'd theoretically lease a new Murano for less than what we're paying now.
    I contacted the dealer here at Somerset Nissan in Somerville NJ and he offered this deal (response via e-mail):

    "HI **** - Thanks for your e-mail inquiry on the new Murano.This Lease Loyalty Program Nissan has going on now is pretty amazing. The deal on a 2011 Murano S AWD is as follows.Allowing 15000 miles per year which is what you have now...With the same amount of money out of pocket as last time ( $3000 )..The new payment is $378.58..The best part is your last 11 payments of 385.79 ( total 4243.69 ) are paid by us.Inventories are limited so let me know as soon as you can.Thanks again for the opportunity to serve you again. Regards, ********* leasing mgr"

    I am in an SL now and paying $385 - this doesn't sound like such a good deal - especially since this car is under my wife's name and her credit score has gone way up since. He's also quoting an S and I currently have an SL.

    I am also considering not putting any money down - how can I figure out what the payments would be on this w/ 0 down (I would need the NMAC money factor for August and the residual?)

    2011 Nissan Murano SL AWD
    Navigation package
    Entertainment Package
    Factory Invoice: $39,084 (base + options + regional ad + destination)
    My Price: $36,284 (includes -$1,800 from dealer and -$1,000 incentive)
    39 months
    15,000 miles

    This from TrueCar and another local dealer offer.

    Thanks for the help in advance.

    John
  • Hey John: I just turned in an 09 sl (leased a quest though). Some interesting points:

    Call NMAC and ask what the early termination cost of your lease is. They will give you a number good for two weeks. Although conventional wisdom is that it is expensive to get out of a lease, I had 4 months left on mine and the buyout is $36.00 effectively waiving the payments. They have some formula where they take the wholesale value of the car and apply it to the lease buyout (payments left plus residual I think). If you chose this option then someone will come and inspect after you agree to the buyout and you'll be on the hook for any damage.

    To lease a new murano they are currently offering the following: $2500 loyalty cash, 750 lease cash and $500 bonus if you lease one with Non-navigation. So that comes off whatever the selling price of the car is.

    Go on here and get the invoice, there's about $225 in marketing added to the invoice not showing up on here and work on the price from there with the dealer.

    I did a calculation as follows.

    SL, no nav, 12k year:

    MSRP: 39530
    Selling price 36400 ( i usually get invoice at my dealer as i've leased 8-9 cars from them)
    Acquisiton fee: $595
    Reductions : $3750 (nissan incentives, take out $500 for nav)

    MF .00041
    Resid 50% (49% if 15k) carman can confirm.

    Monthly base plus finance= payment of about $368/month

    You will still have taxes and fees to deal with either inside the lease or up front.

    General thoughts on what you were quoted is that the dealer called nissan to get the buyout on this car (which you should do) and found it to be low in comparison to the fair market value of the car. He's going to buy it out, and stick it on the lot and make a killing. You don't qualify for the pull ahead because you are too far out and he's saying that to make you think it's a special one time offer. He's making you think he's taking a hit on your payments, but he's plowing that number right back into the S quote he gave you as the advertised price for that deal is much much lower and that has the car at msrp.

    I doubt you will get your payment the same w/o money out of pocket because the MSRP on the sl is about 2-3k more now then in 09.

    Good luck
  • olimaziolimazi Posts: 9
    edited August 2011
    Thanks Spinner...

    I got the payoff quote for my 09 Murano, it's $19,709... and the certified used price for this vehicle is $24,995, so you're right, he's gonna put it on the lot and make over $5,200 on it.

    Having a little trouble calculating lease prices here while using the edmunds lease calculating formula.

    For example:
    2011 SL AWD
    $38,810 sticker x .50% = $19,405 residual
    $33,205 my price - $19,405 res = $13,800 / 36 (term) = $383.33 payments
    for the interest:
    $33,205 my price + $19,405 res = $52,610 x .0041 = $215.70 interest
    $383.33 payments + $215 interest = $599.03 (without taxes)

    Did I get this right? Seems high even for no money down.
    NJ taxes are 7%, so add $41.93 and it comes out to $640.96

    Another question:
    What is the minimum I will have to pay out of pocket - 'drive off fees'
    I take it this could be:
    documentation, dmv, reg, title, license - do these usually add up to about $1,000? And the tax I can pay in the lease price or upfront I take it.

    John
  • There's calculator's on the internet.

    your first problem is the money factor is .00041, not .0041--big difference.

    your second problem is your adding the residual onto the cap cost of the car and figuring the interest on that. you only pay interest on what you use (cap- residual)

    Fix those two things and see what you get.
  • kyfdxkyfdx Posts: 29,134
    You do add the residual to the cap, before applying the money factor.. The amount financed is an average of those two numbers, which is accounted for when the lender calculates the money factor...

    But, yeah... the big mistake was the missing zero in the money factor... that will reduce the finance charge to about 10% of the amount calculated...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • you're right, I've always just used the online calculators so never realized what exactly the MF is applied to, I guess that's why the MF is so critical.

    going back to this deal, you should ask NMAC what your early termination quote number is in addition to the buyout.
  • olimaziolimazi Posts: 9
    OK, called Nissan and got my early termination fee for our 2009 SL AWD Murano, it's $422.65.
    Thoughts on my situation?

    I take it it will be much less closer to the end of my lease.
    One thing I am worried about is the mileage.
    I did some calculations and at our current rate we will go over about 10,000 miles, and I take it they charge $0.15 per mile over so that's $1,500 for the extra miles, yikes.

    What if I turn it in early, before I go over on the miles, and pay little in termination fee. I know I'll be on the hook for any damages, but the car is in good condition.

    John
  • For what it's worth; I just got out of a 39-month lease on my 2009 Murano LE and got into a new 39-month lease on a 2011 Murano LE. I really couldn't be happier with the deal. I was contacted by my local Nissan dealership last week and was told that because of the Nissan incentives on new Muranos I could get into a new Murano at the same monthly payment I was making on my 2009. I told him that the only way I would even consider that was NO out-of-pocket cost. He assured me that they could accommodate me.

    Needless to say I was skeptical and really didn't want to go and waste an afternoon at a car dealership. After all, I still had a year left on the 2009 lease. Well, to my surprise, on Friday, I drove away in a brand new 2011 LE with Navigation (my 2009 was non-navigation) and my payments are the same as my current lease. And I paid nothing up front except the first month's lease payment. The new Murano listed for $43,415 and I leased it for $536/mo. at 12K miles/yr. It probably helped that my 2009 Murano had only 25K miles and was in perfect condition. Even though I lease cars, I am as meticulous with them as I would be if I owned them.

    What made the deal sweeter was that I was probably going to buy a new set of tires for my 2009 before I went on a Christmas trip this December. The best out-the-door price I found on the 20-inchers was just under $1,400. Since they took my 2009 in on trade, nothing was said about my tires and no mention was made of any early out penalty. I guess Nissan has a lot of Muranos sitting on lots nowadays. So, if you are considering leasing or buying a new Murano, I think now is the time to do it.
  • brit67brit67 Posts: 12
    Car Man,
    Can you tell me the NMAC money facors and residuals for a 39 month lease on a 2011 Murano SL AWD and also on an LE AWD.
    Also do NMAC accept Multiple Security deposits to reduce the monbey factor hte same as Infinity do. If so how do they work.

    Thanks
  • brit67brit67 Posts: 12
    What current incentives are being offered on leasing a 2011 Murano SL or LE?
    Are the 2500 loyalty cash, 750 lease cash and 500 lease no Nav. still in effect?
  • I certainly can, brit67. NMAC's October buy rate lease money factor and residua value for a 36-month lease of a 2011 Murano SL AWD with 15,000 miles per year are .00210 and 46%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of an '11 Murano LE AWD are .00210 and 44%.

    I don't believe that NMAC accepts MSDs for Nissan division vehicles, but it wouldn't hurt to ask.

    Car_man
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  • walli1walli1 Posts: 2
    I'm actually looking to buy a 2009 or newer Murano and was wondering if anyone close to their end of lease could:
    1. Share their end of lease buy-out price
    2. Consider selling it to me for the end of lease buy-out + 5%?

    It would be a win-win as odds are it is a reasonable price for me, and you make 5% of the buy-out price for just some paper work! BTW - I live in Calgary, Alberta, so if you'd need to be in the region.
  • Carman do you have the residuals and money factor on a 2011 Nissan Murano SL for upstate NY. I am looking to purchase in the next week or so. Thank you!
  • I certainly do tycalmc. Nissan Motor Acceptance Corp.'s November buy rate lease money factor and residual value for a 36-month lease of a 2011 Murano SL AWD with 15,000 miles per year are .00003 and 45%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • Hi CARMAN,
    Do you know latest (December) MF and resid. for LE AWD, 10K, 36 mo?
    Also, any incentives?

    Regards.
  • I certainly do cityboy2. NMAC's December buy rate lease money factor and residual value for a 36-month lease of a 2012 Murano LE AWD with 10,000 miles per year are .00154 and 52%, respectively for consumers who qualify for its top credit tier.

    In the Eastern half of the U.S. Nissan is providing a $725 cash incentive on leases of this vehicle.

    Car_man
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  • Happy New Year Car_man

    could you please tell me the Dec money factor and residual for a 15,000 mile lease on a 2011 Murano LE AWD no Nav

    Im'm looking to make a deal tomorrow while the incentives are on

    Thanks so much!
  • 7morsn7morsn Posts: 8
    Hey Car_man
    Do you know the January money factor and residual for Murano SL 36 month 10,000 mile lease?
    Are there any cash incentives?
    Thanks
  • Hello Car Man,

    Edumund's states that incentives and rebates for a 2011 Murano SV include customer cash of $2,500 and a leasing bonus of $1,700 for a total of $4,200. The dealers in my area say that the incentives are only $3,700. Can you explain the $500 discrepancy? Thanks.
  • I certainly do 7morsn. Nissan Motor Acceptance Corp.'s January buy rate lease money factor and residual value for a 36-month lease of a 2012 Murano SL AWD with 10,000 miles per year are .00077 and 52%, respectively for consumers who qualify for its top credit tiers.

    Nissan is providing a cash incentive on leases of this truck in certain states. What state are you in? Let me know and I'll tell you if there's any cash in your area.

    Car_man
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  • Hi nugget3. I don't believe that the $2,500 customer cash and the $1,700 cash incentive on leases of the 2011 Murano can be combined. If you lease, you only get the $1,700...and that varies by region. In some areas the lease cash is only $925.

    Car_man
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  • 7morsn7morsn Posts: 8
    Thanks Car_man,
    I am in Decatur IL.
  • crivcriv Posts: 6
    I'm looking at the same lease. I am in Georgia. Thanks.
  • Hi Car man, I am interesting in leasing a 2012 murano le awd platinum package
    with 10,000 miles for 36 months. Do you now the Feb money factor and residual?
    Also I believe there is a $1500 rebate until feb 29

    Thanks in advance
  • The dealer came back with .00071 and .49% for 39 months. Sale price of $38401 after a $750 rebate. msrp was $43445 with $3000 down $555 month with 7% tax in New Jersey. Seems a little high?
  • Can someone help me out with:

    NMAC Lease Money Factor and residual value for a 2012 Nissan Murano SL AWD 36 months 15,000 miles?

    Thanks!
  • You're very welcome 7morsn. It appears as though you reside in Nissan's Midwest region. If that is indeed the case, then you would be eligible for a $725 cash incentive on a lease of a 2012 Murano.

    Car_man
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