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Nissan Quest Lease Questions

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Nissan Quest. Thanks.

Car_man
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  • Would would be a good offer for a 2005 Quest S (with the power package in Canada) for a 48 month term. Any thoughts?
  • Hi fizzyhair. I do not personally keep tabs on what manufacturers' lease programs are like in Canada, but if you are just a Canadian proudly flying who plans on leasing a Nissan Quest in the United States I should be able to give you an idea of how much it should cost to lease it. First, I am going to need some additional informaiton from you, including many miles per year you need to be able to drive it as well as its full MSRP and an approximate selling price. You can look up this model's MSRP information by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get an idea of how much you should pay for this van by visiting the following discussion: "Nissan Quest: Prices Paid & Buying Experience".

    Car_man
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  • I'm in NJ, looking to lease a 2006 Nissan Quest, probably the SL. For 3years/36000 miles, what is the expected residual percentage, and what kind of money factor are we looking at? Also, is there a typical best time of year to get a good deal from Nissan, and what that might be like ?
  • Hello goody59. If you were to lease a 2006 Nissan Quest SL through Nissan Motor Acceptance Corp. right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00191 and 50%, respectively.

    It is difficult to say what the best time of the year to lease this van would be. Consumers are usually able to get bigger discounts on vehicles and manufacturers provide larger incentives at the end of the model year, however this is not necessarily the best time to lease. This is because vehicles' residual values gradually fall as the model year progresses. The lower a vehicle's residual value is, the more expensive it is to lease. If I had to generalize about when the best time to lease this van is, which is a difficult thing to do, I'd probably say in the middle of the model year to around three quarters of the way through it.

    Car_man
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  • I just got a notice from Nissan to schedule an inspection since my 3-year Quest lease is up in November. What are the pros and cons of having the inspection done now as opposed to just before the end of the lease? It has never been in an accident. What things can I do in order to avoid any charges other than washing it and vaccuming and steam-cleaning the carpet and cloth seats?
    Thanks for your input.
  • rprossilrprossil Posts: 62
    Sounds like you're on the right track - please keep us posted how it goes - my lease is up in Mar '07 and I'm new to leasing to. I'm interested to see what they look for. I suppose if you do it sooner rather than later, you have a little time to make a decision about taking care of any items they may bring up. Part of it also depends on on if you're planning on buying/leasing through Nissan again - they may forgive certain things if you're a returning customer - I've heard and read this in some of these forums, don't have firsthand experience. I'd also be curious to see what they do regarding a buyout - if they make you an offer other than what the residual on your lease is. Please let us know. Thanks.
  • Thanks for your input.
    I had a great experience with the Quest; nevertheless, I am planning to lease either an Odyssey or MB R350 next just for a change of scenery.
    I'll keep you posted.
  • Here's what I was offered for a 2007 Quest SE today (credit score above 740).

    36 month residual is 51; 48 month residual is 39. Money factor is .00379

    Vehicle total was $33,419. 48 month lease w/12k miles with $5k down = $523; 36 month = $635

    $2500 down/48 months = $587; 36 months =$614.

    They threw in an extra year of warranty so bumper to bumper would last life of lease and I took the 48 month $2,500 out the door price for $587 per month (first month payment included in the $2500).

    Hope this info helps someone else shopping!
  • Are there any recent transactions out there? Everything here is pretty stale. We are interested in an '07 SL with:
    Fold Away Seat
    Upgrade
    Premium
    DVD
    Technology
    Skyview

    We are looking for leases for 15k with $0 cap cost reduction. I price it out around $39,960 MSRP and $37,979 TMV. The salesperson says he can give it to us for $100 over invoice but he hasn't been able to provide any other numbers yet. Anyone have rates/residuals, etc.?

    Any help would be greatly appreciated as this is my wife's first car and I am hoping to teach her about being an informed buyer. Thanks.
  • Hi pmannymo. $100 over invoice is a very good deal for a lease of a 2007 Quest. I can give you an idea of what its current lease program is like, but in order for me to do so I need you to tell me how long you want to lease for. For now I will assume that you are interested in a 39 month lease, since that is this model's most attractive term. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Quest SL with 15,000 miles per year are .00259 and 47%, respectively. Let me know if you have any other questions.

    Car_man
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  • Car_man,

    I am interested in a Quest SE's residual and money factor for a 39 month lease. The car's MSRP is $38,410 with invoice price of $35,000. Trying to figure it all out as soon as possible. Thanks SO much for all of your help wading through all of the information. You are an incredible help and I sincerely appreciate it.
  • Here's the quote I received for the last post...

    2007 Quest SE with DVD, Technology, Seat, floor mats and splash guards....$38,470 MSRP. They said their numbers are based on invoice +$500 for total cost of $35,500. $0 due at inception, $581/mo for 39 months at 12k miles per year.

    With current money factor and residual, is this a good deal? Has anyone done much better than this? Thanks again!
  • You're very welcome, pmannymo. Here's the information that you're looking for. If you were to lease a 2007 Nissan Quest SE through Nissan Motor acceptance Corp. right now for 39 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00145 and 46%, respectively. Let me know if you need anything else.

    Car_man
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  • Hey pmannymo. I just notices that you posted this van's price as well. $500 over dealer invoice is a pretty good price for a lease of a 2007 Quest right now, but given the dealer cash incentives that Nissan has out there I would not be surprised if you were able to get this van for invoice or even $500 under if you are in an area that has a decent level of competition and you shop around.

    Car_man
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  • Can you tell me what the current money factor and residual value is on a 2007 Nissan Quest 3.5 S? MSRP is 28,830, invoice is $26,526. I agreed to buy for invoice less $2k rebate. Can you give me the info based on a 36 month lease? I know they are making money, but IYO, is that a decent deal? Thanks
  • And what do they want at the time of signing?
    First payment, taxes, security deposit, dealer fees?

    Watch because if you don't read the fine print a lease really isn't as good as it initially appears.
    If you have to fork out $3000.00 plus tax, fees, security etc etc then it's not as good a lease as you may have thought.
    Here's something for everyone to look at who is thinking about leasing.
    First: Take all of the front money the dealer wants. That can be cash or trade equity. Equity being what your trade is worth over what you owe. Example you owe $3000 but the trade is worth $5000 equity is $2000.
    Second: If your term is 39 months. Take all of your front money and divide that by 39 months.
    Third: Now take that number that you arrived at by dividing your front money by 39 and ADD it to the monthly lease payment.
    Now you know what the vehicle is actually costing you per month.
    Go one more step. Find out what payments would be if you financed it for 60 months and I think you'll find that it's pretty close to the lease payment. The thing is if you financed it for 60 months (21 months longer)then what you have in the vehicle is ALL EQUITY.

    I hope you find this informative.
    If I can help further..... let me know.

    Rob :)
  • I'd be happy to help you out, xmontecristox. This van's lease program varies by term and mileage allowance. For now I will assume that you are interested in a 39 month lease with 15,000 miles per year. Let me know if you want something different. NMAC's current buy rate lease money factor and residual value for a 39 month lease of a 2007 Quest 3.5 S with 15,000 miles per year are .00145 and 46%, respectively. Unfortunately, the $2,000 customer cash that Nissan is providing on the '07 Quest is not compatible with its special lease program. Dealer invoice is a very good selling price for a lease of an '07 Quest.

    Car_man
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  • ctmomctmom Posts: 1
    Sorry this is so long. My husband and I went to purchase a 2007 Nissan Quest. Signed a leasing order for motor vehicle. The dealership didn't have what I wanted in stock so they quoted me a vehicle that they ran a search on. The form just has name and address, ss#, vin (which was left blank) and delivery date of 02/28/07, and a breakdown of the lease payments. The next morning after signing the dealership called and said the vehicle they got was a demo and has 4800 miles on it. We told them we are not interested, we signed a lease for a new vehicle not a demo. They said they would start searching for another vehicle to make it right and call back in the afternoon they didn't call back so we called. We had to keep calling to see what was going on, then they were rude about it. So I called and followed up on internet quotes from some other dealerships and they could offer an SE instead of SL same options for 6,000 dollars less. We told them we wanted our money back and the manager told us that is financial dept is closed if he want our money back we can come in "tomorrow" (which is today) between 8:30 and 5:00 for a refund to our credit card. He called the dealerships that I had the least of the two amounts from and trying to obtain the vehicle. He told me he got the vehicle from one of the dealers and i could pick it up "tomorrow" He still wanted the price that we had negotiated previously on the other car. We told him we could get that same vehicle for much less why couldn't he do the same then he gave us a bs answer about service. We put 3800 down. Well he said he would talk to his GM to see if he could match the price of the other vehicle and call back in "ten minutes" With it being the last day of the month this would of been the last day to take advantage of the incentives from Nissan. After an hour the other dealer that had one of the two vehicles called and told me that the dealership called him and try to get the vehicle. He thought to either get it for me or try to keep me from getting it from them. He advised to me that since there was no vin number he didn't have a leg to stand on and to call the credit card companies explain the situation and put a stop on the down payment. The other dealership started the transaction on good faith that we would come in over the weekend since they where closing in half an hour. Then after 8:30pm (They closed at 8:00)the dealership we signed the lease order form with called and said they would match the others price. Of course after they already closed. My husband told him "forget it", No Deal because they kept feeding us lie after lie, being rude to me why would we want to continue receiving service from them and he called over 3 hours after our last conversion ended with I'll call you in ten minutes. Then he told him you can't cancel we will keep your deposit. My husband said "You have no deposit" He had called the creditors and put a stop as advised. Then he went on to say he signed an agreement. On the flip side of the leasing order there are additional terms and agreements. It was never discussed with us. I asked my husband if he signed it. He does not remember signing any terms agreements. On our copy the part that reads I have read the terms and conditions on the back thereof and agree to them as a part of this order. It is blank no signature. My worry is what if he did sign their copy and doesn't remember?

    On their section for Lessee's refusal to purchase reads, if I fail to accept delivery of said motor vehicle within five days after I have been notified that it is ready for delivery, then I understand that nay deposit which I have made with this order whether by cash or by another motor vehicle turned in for trade shall be forfeited to you and be kept by you and at your option shall constitute liquidated damages for my breach of this agreement.

    Can they sue us for the down payment? Do I still have to pick up the van from them. What do I do :-(
  • kyfdxkyfdx Posts: 29,371
    Did you stop payment on the credit card?

    If you don't take delivery, then you are in the clear... the contract isn't complete until you have the car.. No delivery, no money changes hands, no contract..

    They are trying to bully you into taking the car.. Just say no..

    (I'm not a lawyer and this is not legal advice).

    regards,
    kyfdx

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    Prices Paid, Lease Questions, SUVs

  • dtownfbdtownfb Posts: 2,915
    Not a lawyer nor do I play one on TV...

    how can they sue you for the down payment when there was never a VIN # on the lease order? In other words, there was no car.

    they are trying to bully you. Just walk away.
  • saab510saab510 Posts: 1
    Hello. I am in desperate need of help. I own a '02 Mercedes ML500 that I owe $26K on. I pay $636 a month and now need to lower my payments due to job etc. I also need a van (Nissan) that would be better for my family. I was thinking of leasing a 2004/05/06 for the lower payments but the car I have now is only worth $14-16000 trade in. Can I roll the negative equity into a lease? How do I get out of this nightmare????
  • dtownfbdtownfb Posts: 2,915
    tough situation.

    I would find out what the true value of your ML500 is by going over to the "Real World Trade-In Values" forum under the Car shopping forum. There are a few dealers who deal with auctions all day/every day. they are kind enough to give you the going price on your vehicle at auction (ie trade in price). They can also give you an idea of the private sale price on a vehicle like yours. Right now you are looking at $10k negative equity. that is a lot to roll over into a new loan or lease and may not be possible. If you could, your payments probably won't be much less then the $636 you are currently paying.

    Your best bet may be to sell your ML500 privately and somehow scrounge up the rest of the cash to pay off the remainder of the loan then purchase a Quest used. Although I would lean toward a used grand Caravan or MPV not because they are better vehicles but simply they will be cheaper to purchase. A leftover 2006 MPV can be had for $17k-$18k because Mazda has stopped production on these vehicles. Used for several thousand less.

    Is the $26K the payoff amount or the total of the remaining payments? If my calculations are right, you have 40 payments left.
  • barcapbarcap Posts: 1
    I'm interested in a 2007 Nissan Quest SE fully loaded with Navigation and Carpeted Floor Mats. Can anyone provide Residual Value %ages and Money Factors for a 39 month lease? I currently have a dealer quote for a sign and drive deal (no money down other than first mo. payment and registration fees) for $513/month for 39 months (tax included). This reflects a $2000 Nissan customer loyalty incentive but no other cash down on my part).

    However, the exterior color (Black) and interior color (Chili) that my wife wants are nowhere to be found in our area (NY tri-state). In fact, the fully loaded SE's with Navigation seem to be an extreme rarity. I've checked dealer inventories in numerous cities (Philly, Boston, DC) and only came up with two vehicles in the wrong colors. If the deal is a good one, how likely will it be that the dealer a) can find the vehicle and b) if he has to order it from the factory will honor the quote?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi saab510. You may be able to roll part of the negative equity that you have in your current ML500 into a new lease, but unfortunately probably not the entire $10,000. Banks place caps on the amount that they will finance on leased vehicles. I am not sure what cap Nissan Motor Acceptance Corp. places on leases, but let's say that it is 105% to 110% of vehicles' MSRPs. A base 2007 Nissan Quest S has a spread of around $2,000 between its full MSRP and its dealer invoice price, so even if you were able to lease one at invoice you would only be able to roll $2,XXX of negative equity into your lease. If you really want to lower your monthly payment, you should be looking to get the least expensive vehicle possible. Do you really need to get a van? Perhaps an inexpensive sedan, like a Honda Accord or a Toyota Camry would be adequate. If you absolutely need a van, you may be able to get a better deal on a Dodge Grand Caravan.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, barcap. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Quest SE with 12,000 miles per year are .00121 and 46%, respectively. Unless Nissan allows consumers to lock in lease programs on ordered vehicles, you will not be able to use this program to calculate the monthly payment on your ordered Quest, but instead will have to use the program that is available when you physically take delivery of it.

    Car_man
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  • ooomcoooooomcooo Posts: 1
    Hi Car Man, can you tell me what the money factor and residual is on a 39 month lease of a 2007 Nissan Quest SL with 15k miles per year? Also for 12k miles per year?

    I agreed to invoice price which I think is pretty good...

    Thanks in advance for the help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure can, ooomcooo. According to the latest information that I have seen, Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Nissan Quest SL with 15,000 miles per year are .00068 and 44%, respectively. This van's 12,000 mile per year residual value would be 1% higher. Dealer invoice is a very good selling price for a lease of an '07 Quest.

    Car_man
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  • conger14conger14 Posts: 25
    Car_man

    Is the money factor and residual value still in effect for July? I live in upstate NY and I bouncing around between an 07 Sienna, 07 Odyssey and 07 Quest. I'm looking for the lowest current lease plan for 36 months at 12k miles a year. I welcome any suggestions. My wife and I have looked at the Odyssey EX (test drove one), the Sienna LE with AWD (we still get a lot of snow every year) and now the SL Quest.

    Thanks
    Conger14
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Conger14. On July 3rd, Nissan published a new lease program. NMAC's latest buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Quest SL with 12,000 miles per year are .00030 and 45%, respectively. This is a great money factor, but a terrible residual value.

    Car_man
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  • mich0222mich0222 Posts: 2
    hi,
    I was recently quoted the following for a 2007 quest (base model):
    24,300. price
    39 mo.lease/12,000. miles
    348.20 per month..
    the dealer says he is "losing" money on me. I keep thinking they are lying and laughing behind my back! I am trying to get the monthly payment closer to $300...am i crazy to think this is possible?
    thanks
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