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Nissan Quest Lease Questions

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  • conger14conger14 Posts: 25
    find out what the money factor and residual value is and any bank fees. also, is 24,300 the sale price or MSRP? Find out those numbers then run your own calculations. If the numbers are close, then you know that "they may be losing money on you" but it's possibly a good deal. If the numbers are off, find out why. You will probably want to back out at that point and find a new dealer.

    My understanding based on some info posted here a few months ago that minivan sales are down across the board for all dealers and with the new model line coming out, almost all dealers will lose money on minivan sales so...go to www.leaseguide.com and read everything there. This was the best place for me to understand how to negiotate a lease. I have not finalized a deal yet because I keep finding dealers who are inflacting the money factor or residual value or just not giving me those numbers when I ask. If a dealer can't give you the numbers, alarms should be going off!

    Good luck
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mich0222. The dealer invoice price for a base 2007 Nissan Quest with no options is currently $23,597. If this is the exact vehicle that you are getting, then you are paying around $700 over invoice. This isn't bad, but it's not quite the "losing" deal that it was made out to be. If you are in an area that has a decent level of competition, I personally would not be surprised if you were able to negotiate a price of a few hundred dollars less over invoice. You can look up the exact invoice price of the van that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing.

    Once you have arrived at a price that you are happy with, make sure that the dealer that gives it to you calculates your monthly payment using NMAC's current 39 month buy rate lease money factor of .00030.

    Car_man
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  • thank you so much. i tried to get a lower rate through 3 different dealerships, and nobody could match it. So, I figured it was the best i could do. I leased the car, but now i see that the money factor is .00050. Is this terrible? Did I truly get ripped off?
    (I won't sleep until i know i wasn't)
  • We currently have a Lexus RX330 that has four payments of $575 left on the lease. We checked out a Nissan Quest SE fully loaded with Nav/DVD/Sunroof/Cupholders!. These are the figures:

    1. Nissan will roll the $2300 of Lexus lease payments into payments for the Quest. Is this typical? Should Nissan eat the final four payments as an incentive to lease a Nissan to me or it is usual practice for us to eat that cost? In other words, should that $2300 be added to the cost of the Quest?

    2. MSRP on the Quest SE is $39780 based on sticker (37,780) + $2000 for the Nav system.
    3. Dealer indicated his Cap Cost was $36,551. If anyone can tell me how/where to find Invoice, I would appreciate that.
    4. Residual was 45% (that seemed low to me - our Lexis was 49%, but a 48 month lease term)
    5. Lease is 39 months - 0% down, only first payment and DMV charges.
    6. Money factor was .00050.

    Dealer first gave us a monthly of $733 - yeah right!!. We finally got him down to $600. Is that a fair price with Nissan rolling the extra $2300? Am I being totally ripped off??

    Thanks - any advice is appreciated.

    Todd
  • You're very welcome, mich0222. Don't worry about your deal. You did very well. The difference between a .00030 money factor and a .00050 money factor is negligible. Plus, if you had the security deposit waived on your lease the base money factor would increase from .00030 to .00045. Enjoy your new ride :) .

    Car_man
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  • Hi Todd. Manufacturers will usually not "eat" consumers remaining lease payments on other manufacturers' vehicles. You really would be better off waiting until the scheduled end of your current lease to get something new. It would be pretty wasteful to essentially pay for two vehicles at the same time by rolling your remaining Lexus payments into your Quest lease.

    You can look up the dealer invoice price of the Quest that you are interested in by visiting the New Vehicle Pricing section of Edmunds.com.

    The money factor and residual value that you were quoted are right in line with Nissan's current lease program for this model.

    $733 per month is nuts for a Nissan Quest :surprise: . Obviously $600 per month is better, but I still think that you should wait until your Lexus lease is over to get something new.

    Car_man
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  • Does anyone have the 48mo 12K information on the S model. Can I use the $3K cash back on a non-subvented lease?
  • Hi 6422130. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 48 month lease of a 2007 Nissan Quest S with 12,000 miles per year are .00295 and 33%, respectively. Nissan's customer cash incentives are not compatible with its special lease program, but given the fact that there does not appear to be any lease money factor support on 48 month leases of the '07 Quest right now, you might be able to use the $3,000 to reduce your van's capitalized cost. Make sure to check with the dealer that you are working with to find out for certain.

    Car_man
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  • dodgehappydodgehappy Posts: 118
    Just curious on the current money factors and residuals on 08 Quest SL or SE. Looking for best lease terms- which I am guessing are 36 or 39 months and 12k miles per year suits us fine. Also, if we go with a demo would the rates change?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dodgehappy. Given the fact that you're looking at a Nissan, I guess that you aren't actually that happy with your Dodge any more ;). Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Quest SL with 12,000 miles per year are .00087 and 44%, respectively. The numbers for an otherwise identical lease of an '08 Quest SE are .00087 and 45%. The money factors for 39 month leases of these vans are the same, but their residual values are 1% lower. The 39 month term will likely result in a slightly lower monthly payment than a 36 month lease would.

    This lease program is good on demo vehicles as well. The problem that I personally have with demos though is that dealers never seem to be willing to provide enough of a discount on them for me to personally justify purchasing what essentially is a low mileage used vehicle over an identical brand new one. Everyone's different though and the couple hundred dollar price difference may be enough for you.

    Car_man
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  • yhariyhari Posts: 27
    Carman,

    Can you provide current MF an Residual for 24 mos and 36 mos for Nissan Quest SE and SL models, with 12k miles per year? Are the current dealer incentives good towards this lease?

    Thanks
    YH
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, YH. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2008 Nissan Quest SE with 12,000 miles per year are .00067 and 52%, respectively. The numbers for an otherwise identical 36 month lease are .00067 and 42%. NMAC's numbers for the '08 Quest SL are exactly the same.

    Car_man
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  • brian_sbrian_s Posts: 2
    Hello,

    Hope all are well. Does anyone have the new 2011 Quest Money Factor and Residual for a 39 month NMAC lease on a 2011 Quest LE? Also - I've seen a couple different invoices, if anyone could help out - would really appreciate it!

    Thanks so much,

    Brian
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello Brian. Nissan Motor Acceptance Corp.'s March buy rate lease rate and residual value for a 39 month lease of a 2011 Quest LE with 15,000 miles per year are .00230 and 44%, respectively for consumers who qualify for its top credit tier.

    You should be able to find the dealer invoice price for this vehicle over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • brian_sbrian_s Posts: 2
    Thanks Car_man!

    I actually picked up the 2011 Quest and love it so far. Appreciate the info.

    Brian
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem Brian. Enjoy your new ride!

    Car_man
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  • hoolie31hoolie31 Posts: 1
    I wondering about the money factor and residual on a 24 or 36 month Quest SL lease with 12,000 miles per year.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hoolie31, Nissan Motor Acceptance Corp.'s April buy rate lease money factor and residual value for a 24 month lease of a 2011 Quest SL with 12,000 miles per year are .00230 and 57%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36 month lease are .00230 and 49%, respectively.

    Car_man
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  • ahashmiahashmi Posts: 81
    Hi Car_Man,

    You have information on a 2011 Quest LE for 39 months and 12k mi/yr?

    Let me know, Thanks in advance
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey ahashmi. Nissan Motor Acceptance Corp.'s July buy rate lease money factor and residual value for a 39 month lease of a 2011 Quest LE with 12,000 miles per year are .00144 and 48%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • Is that the same for an SL?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey mdspinner. The residual value for an otherwise identical lease of a Quest SL is 2% higher.

    Car_man
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  • jmpukjmpuk Posts: 1
    Hi, new to this game as I am from the UK. Based on the factors listed in this thread, how would I calculate what a good lease price would be? I am looking at an SL list price about $36,000. If you already have a leased Quest, what do /did you pay?

    Any help much appreciated.
  • Hi jmpuk. Nissan Motor Acceptance Corp.'s October buy rate lease money factor and residual value for a 36-month lease of a 2011 Quest SL with 15,000 miles per year are .00162 and 51%, respectively for consumers who qualify for its top credit tiers.

    You can plug this information, along with this van's MSRP and its selling price into the formula that is outlined in the following article to calculate a payment: Calculate Your Own Lease Payment.

    Car_man
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  • Can you tell me if I have a decent deal on this 2012 Nissan Rogue SV with SL package? This is actually the first deal, and I am not trying to rush things, and I intend to give a counter offer:

    MSRP: $30,750 Selling price: $28,200 Residual Value: $17,407 Money Factor: 0.00029 ZERO money down, (includes $1,356 current lease with VW balance), $830 destination fee, $350 DMV, up front taxes $1687 + $369 first month payment.

    I prefer to NOT pay the taxes up front, so this will be in my counter. Any suggestions on how I should handle and do you think I have room to negotiate selling price any further? Any advise is appreciated! Thanks!
  • Hi Car_Man,

    Would you happen to have the 36 & 39 month rates for a 2012 Quest SL w/15k miles per year?

    Thanks!
  • 08outtie08outtie Posts: 13
    edited September 2012
    After comparing a few lease quotes, between the Quest LE, SL and Sienna LE, I decided to go with the Quest SL. Here are the data (all based on 12K miles/yr):
    Quest LE quotes: MSRP - $44,130; Net Cap Cost - $39,800; Residual - $22,506 (51%); Money Factor - 0.00195; Term - 36 months. Monthly payment is $567.01 + tax; Down payment $3,000.

    Quest SL quotes: MSRP - $35,720; Net Cap Cost - $32,048; Residual - $19,646 (55%); Money Factor - 0.00185; Term - 39 months. Monthly payment is $283.26 + tax; Down payment $3K.

    Sienna LE with Leather Seats and Navigation: MSRP - $33,785; Net Cap Cost - $31,895; Residual - $16,632 (49%); Money Factor - 0.0004; Term - 36 months. Monthly payment is $404 + tax; Down payment $3K.

    In truth, the Sienna LE was a 2012 model which has an awesome 0.0004 money factor. The only thing the Nissan dealer can do to match such a low monthly payment is to extend the terms from 36 months to 39 months, which really isn't apple to apple anymore. However, as you can see, the Sienna's discount (MSRP-Cap Cost = $1,890) on the vehicle wasn't as deep as the Quest SL (MSRP-Cap Cost = $3,672). To me, the Quest SL is a much better vehicle than the Sienna LE. So the deeper discount on the Quest SL out weighs the lower money factor on the Sienna LE in my opinion. Plus, as you can see, Sienna's residual value is not as high as the Quest. Therefore, it offset some of the benefit of the lower money factor.

    I really like the Quest SL, because I have the power lift gate which the Sienna LE lacks. The leather upholstery and the interior design is so much better than the Sienna. I know the Quest SL doesn't have the navigation, but nowadays with the free nav on our smart phone, I really don't think it is reasonable to pay almost $8k more on the Quest LE over the SL just because of the nav. All the other nice features like the seat memory, blind spot monitoring..etc are nice, but I can live without. So at the end, the SL is a very sensible choice in my opinion, saving about $200/month in monthly payment comparing to the Quest LE.
  • janoojanoo Posts: 15
    Hi am planning to taking delivery of an Nissan Quest 2012 LE model with out moon roof. The car has an MSRP of $43625. I have made a deal that total of out pocket monies including taxes, destination charge, motor vehicle and acquistion fee, bank fee etc for a total of $4000 and no other money out of pocket is required. The lease price per month which includes the gap insurance is $465 for 39 months 12000 miles per anum. What is your opinion of this deal for anyone that can answer would be greatly appreciated?
  • Hi all,

    Just wanted to add a data point for a Quest SL that I leased yesterday.

    15k miles/year 39 month lease
    54% Residual
    .00145 mf
    MSRP: 35655.00
    Net Cap Cost: 30945.00 (Includes Acquisition Fee/Dealer Fees/Tag/etc.)
    Total due at signing $410 ($394 monthly payment + $16 down..don't ask me why)
    Monthly Payment: $394 inc/tax
  • Take the money factor and multiply by 2,400 and you get the interest rate equivalent.

    Most leases are pegged to 15,000 miles per year, because that is the average people drive per year. THIS IS THE STANDARD! The reason you see ads for 12,000 or 10,000 miles if because there is a bump in the residual value and they can advertise a lower payment. You can get up to 25,000 miles per year in most leases.

    If you are a high mile driver and change cars every 3 years, leasing is perfect. Instead of being upside down, you get a payment similar to the buy option (leases are normally lower because you are only paying for a portion of the vehicle) without being told you're upside down $5,000 because you have a 3 year old car with 75,000 miles.

    The only people who buy those cars are people looking for a killer deal.
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