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Nissan Altima Lease Questions

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  • z2adambombz2adambomb Member Posts: 18
    Hey 77,
    I'm in a similar boat with a lease on a pathfinder ending with a $300/mo payment. I've found the cheapest option is simply making your remaining payments and letting the car sit. If you terminate it early and stop payments, chances are the early termination fee you pay will be higher. The nissan dealer should offer to take the car and it'll sit on their lot until the lease expires and they'll roll the payments ($900) into your altima quotes. $900 distributed over a 36 month lease equates to roughly $20 on your monthly payment... so factor that into your negotiations. I'm personally looking now since I'll be over in my mileage so paying that fee vs. having a double car payment for one or two months just about breaks even. there is an incentive to stay with Nissan... I was told it's simply $500 toward your next lease or purchase, so that doesn't quite cover two of your pathfinder payments let alone any wear and tear fees you might encounter turning the car in. In the past I've been able to negotiate waiving wear and tear fees if I remain with the company (Volvo was great about this, I'm not sure about Nissan). As for the money factor, the Altima is by far Nissan's best selling car right now. I would imagine they'll keep the low MF's for a while to keep the company running well through this economic downturn. Bottom line I've found is just to be patient. Gas prices are low so driving the pathfinder doesn't hurt as much as with $4/gal gas. Patience will also allow you more time to shop and really get some bargaining leverage with other brands as well.
  • clarencehollowclarencehollow Member Posts: 60
    Nissan doesn't have an early termination fee. However there is up to $1000 bonus cash on the Altima lease now through the end of March. So having the dealer cut you a check for the final payments of your Pathfinder is the way to go for sure. MF will be low but next month the Residual changes and the bonus cash disappears. You'll be kicking yourself for letting the best month for leasing an Altima (with bonus cash) and passing right by it. It's your money so I don't really care.
  • b22squaredb22squared Member Posts: 6
    I used this board a few years ago but got a late start this year. My lease on my 2006 Altima 2.5 Spec Ed expires on Wed but I'm headed to dealer tomorrow AM.

    Carman or anyone else able to confirm the money factor and res value for a 2009 Altima 2.5S (I'll get conv pkg, mats,) with 15k miles for 39 months, auto transmission?

    Thanks in advance for your help. I could not find posts from March for 39 month numbers and not sure if numbers changed from February.
  • bigbucks1959bigbucks1959 Member Posts: 27
    I closed a deal today on a 09 Altima 2.5S CVT in Brick Red: Check it out:
    I owed 8 more payments on my 07 Accord of $273 ($2184) I told them I don't need a car I have one but if you payoff my Accord and give me a good deal on a lease I will take an Altima today..I knew they were hungry because it was the last day of month hehehe...

    I have a new lease payment of $274 (includes 9% tax in it) 39 month lease..I paid $500 for fees and they cut me a check for $2,184 to payoff my accord.

    I am very happy with the deal and love the Altima so far..CVT takes some getting used to but love the manual shifting better anyhow.

    PK
  • travdog34travdog34 Member Posts: 17
    Specs of the car:
    2009 Nissan Altima 2.5 S 4dr Sedan (2.5L 4cyl CVT)
    MSRP: $22,545

    Terms of lease:
    39 months
    12,000 miles/year
    $0 down

    In march I received a low offer of $249/month. This was from a price match guarantee that said they would beat any offer by $10/month. So I guess you could say one offer was $259/month, and I took that to the other dealership with the guarantee and they went to $249/month with $0 down.

    Now that it is April, I am wondering if I have room to bargain lower? Do the new numbers this month permit this? I would love to get to around $229/month. Anyone know or think this is possible? Or have the numbers gotten worse, and should I be begging to get $249/month still.

    I have about 2 weeks to finalize, so any and all help is much appreciated!!

    Location is Raleigh, NC.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kozaka. NMAC's new buy rate lease money factor for a 36 month lease of a 2009 Altima S Sedan is .00124.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stunner. The best way to evaluate how good a deal this is is to take a look at this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Knowing the selling price enables one to tell if there is any room left to try to squeeze a larger discount out of the dealer. Let us know what this number is (the MSRP would be helpful as well) and I'm sure that either myself or another knowledgeable community member will be happy to tell you what they think.

    One thing that I notice about this deal right off the bat is the $2,000 down payment that you are being asked to make. I always advise consumers not to make capitalized cost reductions when leasing. Those who make one risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your car's monthly payment will be a little higher, it would be much safer to go with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi b22squared. Nissan Motor Acceptance Corp.'s April buy rate lease money factor for a 39 month lease of a 2009 Altima 2.5S Sedan is .00124.

    Car_man
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  • vnovacats1vnovacats1 Member Posts: 2
    Rresidual = 58%
  • stunner_shadesstunner_shades Member Posts: 3
    Hi, carman the msrp of the car is 30,075 fully loaded 2009 nissan altima 2.5 SL the capitalized cost is 26,537.72. I'm sure i can still lower them about 1,000.00 right carman?? And im going to take your advise and get the best price with 0 money down!! =) Any other numbers you need to help me get the best price...?? Thanks :shades:
  • leochengleocheng Member Posts: 5
    I live at Houston. I am going to lease a Altima coupe 2.5S with basic options. I think the MSRP will be around 23-24K. My choice will be

    10K-12K miles per year
    0 down pay
    36-39 months lease term

    Anyone has just lease this vehicle? Could you share the experience and the final monthly payment?

    Thanks
  • chris001chris001 Member Posts: 5
    well i finally got my dream car (07 infiniti g35) , but at a great expense, after getting
    my 06 altima SE-R inspected was told the bill would be around 1500.00, knowing i was getting the g by the weekend the inspector advised me to make some repairs and have the car re-inspected at the dealer i made the repairs and turned the car in ,now its 2 weeks later
    and i find out the dealer cancelled the re-inspection ! I cant get an answer as to why it happened(they wont return my calls) , as if that wasnt enough the bill from nissan already came and its 2300.00 ! it seems the dealer only paid 1 of my last 3 remaning payments , plus i was told by NMAC that since i am buying a pre owned infiniti from a nissan dealer i am entitled to 500 dollars customer loyalty this and the repairs should lower the bill by at least 1000.00 . i am calling the general mgr of the dealer tomorrow , i am not optimistic of the outcome what recourse do i have ? i want to pay nissan but not what they are asking!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey stunner. The '09 Altima that you described probably has a spread of around $2,350 between its full MSRP and its dealer invoice price. Nissan is not currently providing any cash incentives on leases of this car. The selling price that you were quoted looks outstanding, assuming that you didn't have to make any cap cost reduction to get it. I doubt that you will be able to negotiate another grand off of that.

    Car_man
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  • travdog34travdog34 Member Posts: 17
    CAR MAN - If you happen to have time would you mind checking out my post #975.

    I just talked to a dealer and he said that now the best he can offer is over $300/month with $0 down payment.

    Is he giving me some b.s?

    Thanks!
  • hlyhly Member Posts: 1
    I leased an Altima 2.5S this month with 0 down, 225/month for 39 months. When all was said and done, they added up about $1900.00 in charges (taxes (8.38% in NY), title, registration, document/acquisition fee - that was between 7 and 800 -- but they gave me $700 for a somewhat beat up 2000 Malibu. Dealership is in Queens, NY.

    And the Nissan site IS offering incentives this month -so I think you can do better than your current deal.

    --HLY
  • stmfttr05stmfttr05 Member Posts: 7
    HEY CAR MAN: i want to lease a 2009 altima 2.5sl and the best price i got was $20,860. i didnt go to the dealership yet, this was an internet quote. if that price stands do you know what the lease payments would be? 36 months 12k miles.
    got this price from HALDEMAN NISSAN in central jersey.this is all the info i got online.
    Thanks for the help

    anyone online lease an altima in central jersey recently?
  • khriscotakhriscota Member Posts: 5
    Carman: Went to a dealership and was told that the $1500 rebate is only for purchase not for leases. Is that true?
  • mddj4mddj4 Member Posts: 8
    I was just quoted on a 39 month lease for the Altima 2.5 SL with 15,000 per year at
    $348 per month including tax (FL 7%) and out of pocket $1198.00. Is this a fair deal?

    Miami, Florida
  • stmfttr05stmfttr05 Member Posts: 7
    just got quoted for a 2009 red nissan altima s with the sl package(msrp $27,754 lowered to $22,587) $353 a month, 39 month lease with no money down.
  • mddj4mddj4 Member Posts: 8
    I visited another dealer in Miami and received the following quote:

    4 door ALTIMA 2.5 SL plus the connection package for a term of 39 Months, $350.00 per month which includes the tax (FL 7% tax). 15,000 miles per year, and out of pocket expense of $580 ( 1st month and title transfer,etc.). Better than yesterday quote.
  • richiscanrichiscan Member Posts: 1
    Car Man, I am looking to lease a 2009 Nissan Altima 2.5S in the Boston MA area. I am looking for the residual rate and money factor for a lease with both 12K miles as well as 15K miles.

    I am also curious as to the negotiated Cap costs that people have been getting.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi travdog34. This car's lease payment will vary depending upon what sort of selling price you negotiate. I can work up a sample payment for you using April's lease program if you'd like. The car that you described probably had a spread of around $1,350 between its full MSRP and its dealer invoice price. Add to that the $1,000 bonus cash that Nissan was providing on it and you have a total of around $2,350 to play with during your negotiations. For now I will assume that you were able to get this car for $500 over dealer invoice. Let's crunch some numbers.

    According to my calculations, if you were to lease a 2009 Nissan Altima 2.5 S AT that has an MSRP of $22,545 and a selling price of $20,695 through Nissan Motor acceptance Corp. right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $260. Of course, this doesn't include taxes or fees and Nissan enhanced its incentives (the new bonus cash) since your original post) but this is what I would shoot for if I was in the market for this car.

    Having said that, Nissan's April lease program was only scheduled to run through yesterday, the 30th. Many manufacturers decided to extend their April programs through May 4th. I'm not sure if Nissan did or not, but either way it will introduce a new May lease program for this car, which may or may not be similar to its April program, any day now. Please feel free to check back with me to get an idea of what the new May program is like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stmfttr05. I would be happy to use Nissan's actual lease program to work up a sample payment on the car that you are interested in for you. However, in order to do so I need to know both its selling price and its full MSRP. I see that you already have the selling price, which is a good thing because this is a very important number that many consumers ignore. Just ler me know what the MSRP is and I'll crunch some numbers for you.

    Nissan's April lease program was only scheduled to run through yesterday, the 30th. Many manufacturers decided to extend their April programs through May 4th. I'm not sure if Nissan did or not, but either way it will introduce a new May lease program for this car, which may or may not be similar to its April program, any day now. Please feel free to check back with me to get an idea of what the new May program is like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    What you were told is correct, khriscota. The $1,500 customer cash that Nissan was providing on 2009 Altima Sedans in April was only for purchases, not leases.

    However, on April 17th, Nissan introduced a special $1,000 bonus cash incentive on the '09 Altima that was compatible with its special lease program.

    I used the past tense in my above statements because Nissan's April lease program was only scheduled to run through yesterday, the 30th. Many manufacturers decided to extend their April programs through May 4th. I'm not sure if Nissan did or not, but either way it will introduce a new May lease program for this car, which may or may not be similar to its April program, any day now. Please feel free to check back with me to get an idea of what the new May program is like.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi richiscan. Nissan Motor Acceptance Corp.'s April buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima 2.5S Sedan with 15,000 miles per year were .00124 and 57%, respectively. The residual value for a lease with only 12,000 miles per year is 1% higher.

    As far as what sort of selling price to shoot for goes, if I was interested in leasing an '09 Altima right now I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus the $1,000 bonus cash.

    I used the past tense in the above statements because Nissan's April lease program was only scheduled to run through yesterday, the 30th. Many manufacturers decided to extend their April programs through May 4th. I'm not sure if Nissan did or not, but either way it will introduce a new May lease program for this car, which may or may not be similar to its April program, any day now. Please feel free to check back with me to get an idea of what the new May program is like.

    Car_man
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  • fractiousfractious Member Posts: 5
    Hey Car_man,

    Looks like the new May Nissan Altima programs just came out. Could you tell us the details?
  • fractiousfractious Member Posts: 5
    Car_man,

    Another question. I got a quote on a 09 Altima 3.5 SE 4dr. MRSP is $33,780, dealer invoice is $30,867. Dealer will give the car to me for $207 over invoice. So for a 39 month lease, 15/yr, dealer quoted me at $386/mo w/ $3000 down total out of pocket in NJ (7% sales tax). Does this seem like a good deal?
  • todaotodao Member Posts: 7
    Car Man, I've got an offer for an 09 NAH, fully equipped (convernience, tech and communications package with moonroof) at 39 months, 15K/year for $475 in LA. What do you think of this deal? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yep, fractious, Nissan did end up introducing its new programs on the 1st. Nissan Motor Acceptance Corp.'s new May buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima 2.5S Sedan with 15,000 miles per year are .00107 and 56%, respectively. The residual value for a lease with only 12,000 miles per year is 1% higher.

    Nissan is not providing any consumer cash incentives on leases of this car, but it is providing dealers that hit their sales targets with $1,000 dealer cash per unit.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey fractious. Let's use Nissan's new lease program to work up a payment on this car and see what we come up with. According to my calculations, if you were to lease a 2009 Nissan Altima 3.5 SE that has an MSRP of $33,780 and a selling price of $31,074 through NMAC right now for 39 months with 15,000 miles per year, I estimate that its zero down, pre-tax monthly payment would be around $382.

    How does the $3,000 that the dealer is asking you for at lease signing break down? I ask because I usually advise consumers to pay as little money at signing as possible. Consumers who make large down payments on leases risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, it's safer to go with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi todao. the best way to evaluate this deal would be to take a look at its selling price. The selling prices of leased vehicles are negotiable, just as if one was paying cash for or financing. Without this number (and the MSRP or dealer invoice price to compare it to) it is difficult to tell how much of a discount you are being given.

    Let us know what the selling price and MSRP are and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
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  • todaotodao Member Posts: 7
    Thanks Car Man. Sorry for not giving the info. MSRP is $34,9890, invoice is $32,191. Edmunds shows an additional $2,000 incentive/rebate for the car but I don't think that was included in the dealer price (I assume the incentive is only for purchase, not lease).

    The dealer is offering a selling price of $31,150.

    With that the lease offer is 39 months, $2,000 down, 15K miles/year and a monthly lease payment of $475.

    What do you think?
  • fractiousfractious Member Posts: 5
    Car_man,

    Not 100% sure what the downpayment is used for... But based upon some of the numbers I saw on the computer screen, I think that it looks something like this:

    Inception fees - $1450
    $595 aquisition fee
    $249 documents fee (title, registration, etc)
    $199 window etching (i should really get this removed)
    $386 first month payment

    Cap cost reduction - $1550

    Does that seem about right to you?
  • number1leasingnumber1leasing Member Posts: 18
    I would advise you to go to a high volume dealer and take advantage of that $1000 dealer cash. If that fails, try the last week of the month when they will know about where they stand to qualify for that dealer cash.
  • orserorser Member Posts: 7
    Have "Tent Sale" Lease offer from 2 dealers of $305/mo. on Altima S with MSRP of $26005 (SL, Convenience, Conv. + ). $0 down, includes tax, etc.

    One dealer will sell it for $4352 less ($21653)

    Is the lease deal good? Seems like sale price is better.

    Thanks
  • gpb59gpb59 Member Posts: 106
    which dealer(s) are these?
  • orserorser Member Posts: 7
    Hoselton Nissan & Vision Nissan in Rochester, NY

    http://www.hoselton.com/images/images/newspaper/newspaper_nissan.html
  • derfsonderfson Member Posts: 14
    ASK THE DEALER WHO GAVE YOU THE SELL DEAL TO TURN THE $21653 INTO A LEASE INSTEAD. THEN YOU CAN COMPARE THE TWO DEALS.
  • gpb59gpb59 Member Posts: 106
    so I assume, since the tent sale said 249/mo they said 305 sith the SL package? Is tax inclued in the monthly Pmt?
  • njdesi2njdesi2 Member Posts: 1
    Car_man,

    Thank you for the information and guidance you provide. Do you know what the money factor and residual % for the altima coupe is different than the sedans?

    I'm trying to find a good lease deal on altima 2.5 S (CVT trans) with premium package. So far the best i could get was 340 (inclusive of tax) + 1395 - ( includes acquisition fee, 1st month payment, other fees) or 353 if i bundle in the $595 acquisition fee into the payment. This is for 12K miles per year.

    Edit: Edmunds shows MSRP as 28070, invoice as 26003, and TMV (1500 rebate) 24643.

    I feel like the lease is still 15-20 dollars higher than where i'd like to be, but am not sure its doable. What do you guys think? Should I just buy the car instead? The best purchase price i have is 23,900 (26K out the door).

    Thanks again.
  • orserorser Member Posts: 7
    Yes, tax and fees are included. Thanks

    Just got lease another offer for $280 /month with $1000 down on Altima with MSRP of $26180.
    Says that is based on a selling price of $23100.
  • cenergycenergy Member Posts: 2
    I just called the dealer over in Rochester and they said they would honor the tent sale deal. That is for Altima S - 249 a month, 249 first month payment down, sign and drive (taxes, fees, etc. included).
    Residual value $12715
    MSRP 221715

    I forgot to ask how much the selling price of the car was but does this sound like a good deal?
  • orserorser Member Posts: 7
    $249 was the lowest I found. Another in Rochester advertised $259, One in Syracuse was $299.
  • dreamk1dreamk1 Member Posts: 2
    Anyone here might know what price I can get for the '09 Altima S class?? I live in Brooklyn NY zip 11229...anyone familiar with any quotes from dealerships from this area? Any help would be good. Thank you!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, todao. Unfortunately, the $2,000 consumer cash that you mentioned is not compatible with Nissan's special lease program. Tthe only cash incentive that is available on the '09 Altima right now is a volume based dealer stairstep program.

    The selling price of around $1,000 under dealer invoice that you were quoted is an excellent deal. Just make sure that the dealer that you are working with uses Nissan Motor Acceptance Corp.'s current buy rare lease money factor of .00259 to calculate your lease payment in business.

    The only adjustment that I personally would make to this deal would be to reduce the amount due at lease signing. I always advise consumers to put as little money down as possible when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Your monthly payment will be a little higher on a lease with less due at signing, but you'll be safer.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey fractious. NMAC charges a $595 acquisition fee on every vehicle that it leases, so that charge is fine...though you should be able to have it rolled into your car's capitalized cost to bake it into your payment if you want. Obviously, the first month's payment is fine as well.

    The $249 doc fee is really nothing more than dealer fluff, this this dealership probably charges it on every vehicle so I doubt that you will be able to get them to remove it. As long as the total price that you are being charged for the Altima that you are interested in, including this fee, is less than or equivalent to what you would have to pay for it elsewhere it really doesn't matter how the total price breaks down.

    I personally would have the dealer remove the $199 window etching fee. You don't need it.

    You would be better off not paying the capitalized cost reduction as well. Yes, without it your monthly payment will be higher but A) you will have that money to use in case of an emergency and one never knows what will happen in today's economy and B) you won't risk losing the money that you put down if your vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, njdesi2. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima Sedan 2.5 S with an automatic transmission and 12,000 miles per year are .00107 and 57%, respectively. The numbers for the '09 Altima Coupe 2.5 S auto trans are different, .00180 and 54%.

    The $1,500 consumer cash that you mentioned is not compatible with Nissan's special lease program, but Nissan is running a special volume-based dealer stairstep program that is. If I was in the market for an Altima right now, I personally would shoot for a selling price of $500 to $1,000 under invoice and see what happens.

    Car_man
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  • serhat1951serhat1951 Member Posts: 4
    I just got quoted $325 and thats with the down, bank fees, tax, and everything rolled into the 325 for an altima w/ every single option loaded for 42 months 10k miles a year.. asked a leasing agency and they told me that they dont know how in the world they were able to do that... am i missing something are they yanking my chain is there a catch?
  • khriscotakhriscota Member Posts: 5
    carman, wanted to find out the residual and MF for june 2009 on a altima hybrid 2.5SL and a regular 2.5SL for 36, 39, 42, and 48 months. If possible. Thanks!
  • bakkerjbakkerj Member Posts: 9
    Car Man,

    I'd like to get this information too? That is the residual and money factor for an altima hybrid for 36 months and both 15,000 and 18,000 miles.

    Thanks,

    John
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