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Nissan Altima Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi steen013altima. Nissan's September lease program came out on the 5th. The .00149 money factor for the 2013 Sedan has been available since then. Some dealers may be trying to mark this factor up though.

    Car_man
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  • steen013altimasteen013altima Member Posts: 34
    ummm...$4000 down on a 39 month lease, way too high.

    approx figures bc I dont know msrp etc.

    but an SL2.5 msrp of .............................................28800
    selling price 26800 (about 93% of msrp is a good price)+destination595=================27400
    residual 60% of msrp = 17280
    gives you payt rental charge of 259 + interestmonthly (money factor @.002) +89 . total payment before monthly sales tax 348.
    this is with 500-1000 down, which would cover 1st month and regi/tax etc.

    so 270 w/ 4K down, equating to 370 is too high IMO by about 20-25. so payt w/ 4K down should be 245-250.

    good luck
  • steen013altimasteen013altima Member Posts: 34
    edited September 2012
    thanks...it equates to 4/10th of an interest point, and lowers payments by about 15-20 for tier one.

    Ive leased 10 cars in my lifetime, the last 4 nissans, Ive never had a dealer mark the money factor up , because it doesnt come from them but from the nmlc, or nmac in nissans case

    the only way to mark it up is if your credit score doesnt make the mark or grade. tier one Ive come to find out from nissan only is credit score of 710 and above,...not 720 which is toyotas or even 740on GM's, i dont know why 710 , but it is..

    so if your score is that or above, getting tier one .00149 shouldnt be a problem.
  • ank_2ank_2 Member Posts: 1
    I got this and don't know if it's a good deal or not ?
    MSRP: $30,250
    Selling Price: $28,135

    24 month lease
    Residual 67%
    Money Factor 0.00139
    Drive off $861+ ($846.00 for registration+acq)
    Mo Payment $389

    Should I get it ?
    Thank you
  • steevosteevo Member Posts: 389
    edited September 2012
    Thats a pretty good deal right now for 24 months especially if thats with 15000 miles. Still good even if 12000.
  • hossiberthossibert Member Posts: 4
    I had posted this on the general buying experience, but believe, it fits better here.

    Got the follwoing quote for the 2013 2.5SV with nav, convenience + external lighting ( as aftermarket):
    List price: $ 27150
    Discount: $ 3215 ( VPP )
    Aftermarkets: $ 399
    Total Purchase: $ 24334 ( incl. Ext. lighting of 399 as aftermarket )
    Admin Fee: $ 699
    State + Local taxes ( live in SC, but offer from NC dealer ): $ 300
    Title + License fees: $ 595
    3 year/36K maintenance: $ 489

    Total OTD: $ 26417

    Am planning to lease for 36 months with first rate of $ 345 as down payment for $ 345 per month; residual is 59% with a buy out of $ 15933 and a rate of 0.00149

    Have to say they are giving me good money for my 09 Cube with 47K miles ( $ 10500 ), which is what I still owe on it, so this will be a wash for me. I think, I can get them to waive the maintenance and the downpayment. Then I still have a 500 $ voucher/coupon from them, where I am not surem if they will still accept them - at least it would give me a 20$ walmart gift card i just read about the $500 Visa Gift card and checked the saab.com webpage but could not find it there, so I would be very interested in where I could get that as well.

    Would be very thankful, if you can let me know, if this is a good deal, since I want to pull the trigger soon.

    Thanks a lot !!!
  • pegasus17pegasus17 Member Posts: 536
    REF: 1688
    I would be very wary of this dealer. Mx costs for a 3 year lease are zero (Nissan warranty covers ALL). Admin fee is pure BS. Neither NC nor SC have ANY required admin (doc) fee so that should also be zero. Do your research before you get hosed!
  • hossiberthossibert Member Posts: 4
    Thanks alot, Pegasus17 !!! The maintenance plan is for the regular maintenance for the scheduled events, at the 3750, 7500 miles, etc. Since I will drive a lot, I will defenitely see the big check up and all the smaller ones, which I believe result already in more then the 489 $. Are you sure, that those maintenances, oil changes, etc. are included in the warranty ??

    Besides the admin fee, etc. do you think the deal is good ???

    Thks
  • pegasus17pegasus17 Member Posts: 536
    REF: 1690
    Warranties do NOT cover routine items. Scheduled mx on a 3 year lease is limited to oil changes and tire rotations, period. Why spend $489 on those small items?

    Tell the dealer you are going over to test drive the NEW Accord and see if they get easier to deal with...
  • hossiberthossibert Member Posts: 4
    Thanks a lot. What do you think of the overall deal, though ???
  • pegasus17pegasus17 Member Posts: 536
    edited September 2012
    still too high; 320 per month is the most you should pay
    fyi, you are paying the entire 399 for the aftermarket items - they did not residualize them. ask them why not...don't rush into this as the end-of-the-month is near
  • steen013altimasteen013altima Member Posts: 34
    edited September 2012
    your msrp is 27150.
    your sales price is 24334
    thats at 89.6% of msrp.

    all other numbers pretty much plug in.

    negotiate bank fee or if your dealer is calling it admin fee, you can, Ive seen generally about $595 fee called acquisition fee.
    decline add'l 3 yr maintainence pkg.

    now plug in numbers as they pertain and you get 320/month, its not magic. put its not 345 either, as pegasus said thats too high , i agree.

    now my figuring does not include tax and title and 1st payt. which in this case would be about 1215 or so, i would offer them $500 to cover this (including that 1st payt., let them eat the other 700+ DO NOT put it into the lease.

    you can switch number around, such as aftermarket so its not part of cap cost etc, but the price your buying the car which is 89.6% of msrp is good and that will set all the numbers in place.

    it is what it is...i dont think you get this car for much less. but 320 seems to be spot on IMO,

    good luck
  • steen013altimasteen013altima Member Posts: 34
    good deal. plug in numbers and see. i got 395/month on your numbers doing it rough...so 389 is good.

    ps- what model of altima are u getting at a msrp of 30,250.
  • mtl40mtl40 Member Posts: 3
    Hi there...thanks for your great feedback. It is helping me make decisions on the same car, too. However, can you help me "plug in" the rest of the numbers to come to the monthly payment and out the door costs?

    My concern is that they will agree to a price, but then mess with the other numbers (fees, etc.) to make my monthly payments and out the door costs bigger.

    I have perfect credit, but wondering how to make sure I'm not being "taken" when sitting at the finance table.

    Thanks!
  • arturob2arturob2 Member Posts: 46
    Hi Car_Man,

    Do you have the MF and Residual Value for the 2013 Altima 2.5 SL and 3.5 SL for 10K Miles, 24 and 36 Months terms?

    Thanks,
    AB
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings arturob. Nissan Motor Acceptance Corp.'s October buy rate lease money factor and residual value for a 24-month lease of a 2013 Altima 2.5 SL with 15,000 miles per year are .00138 and 67%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00138 and 58%.

    The numbers for the '13 Altima Sedan 3.5 SL are .00138 / 70% and .00138 / 60%.

    Car_man
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  • arturob2arturob2 Member Posts: 46
    thanks, Car_man.
    For 10,000 miles residual values, can I just add 3% to the values you posted (15,000 miles term)?

    arturo
  • mikers1981mikers1981 Member Posts: 17
    And another replay again asking for his managers number :

    If appears that since August you've been trying to get a nissan at your price which for the Car listed in the emails is totally out of context. NOONE can do a lease for $315 a month for a $29,000.00 Altima. Picking a fight with someone won't get you this vehicle at YOUR number either Sir! We have all of our emails as I'm sure you do to and after careful scrutiny we are deemed to be in line. You have not purchased a vehicle since August and are still trying to. All we want to do is help you and all you want to do is pick a fight! We here at Cherry Hill nissan choose not to fight with our customers only give them the information that is required of us. But excessive emails could border on harrassment sir. expecially when YOU accused us of doing something untoward towards you. That is not acceptible behaviour on either part. So If by telling you the cold honest truth has offended you I'm sorry that you felt that way but I'm not a sugar coating king of person. This is my final email abut this matter. I'm very busy with customers who want to purchase their cars that need my assistance. Thank you once again and I hope you find your way Sir!
  • oddsroddsr Member Posts: 5
    Hi all, Can someone tell me the MF and residual value for a 2013 Altima 2.5 SV for 12K miles? 24 and 36 months. Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, arturob. For a lease with 12,000 miles per year you would add 2%. I'm not sure if NMAC offers 10k leases on Nissan division vehicles, but if it does the adder would indeed be 3%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi oddsr. Here you go. Nissan Motor Acceptance Corp.'s October buy rate lease money factor and residual value for a 24-month lease of a 2013 Altima 2.5 SV Sedan with 12,000 miles per year are .00138 and 71% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00138 and 61%.

    Car_man
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  • oddsroddsr Member Posts: 5
    Appreciate the info Car man. Thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that I was able to help you out, oddsr. See you around.

    Car_man
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  • dssdude10dssdude10 Member Posts: 1
    Just picked up my leased 2013 Altima SV 2.5
    290 per month
    No trade
    1000 down (including all their fees tax, whatever)
    15 K
    24 month deal

    This car has black cloth interior, black exterior, 17 inch rims alloy. Other than that, pretty basic.

    Do you think I got a good deal?
  • pegasus17pegasus17 Member Posts: 536
    ref: 1707
    You should ask that question BEFORE you finalize any deal!
    If you still want to know, what was the msrp and the sell price of the SV model?
    At first glance, it is an OK deal - not a rip but nothing special...
    If you want to provide the details, I can give you a better answer.
  • mc22mc22 Member Posts: 1
    Carman, has Nissan issued nov lease deals (SoCal region)? If so, not sure yet on model so can you provide data on both 2 yr and 3yr terms, with 12k mi/yr the best money factor and residuals on:

    2.5sv
    2.5sl
    3.5sv
    3.5sl

    Also there was a $625 lease rebate in oct, is there one for november?

    Finally, some manufacturers do an LA auto show rebate in nov, does Nissan have an addit rebate for SoCal for this?

    Lots of questions, but just trying to cover all bases in case others have questions that you may be able to cover all in one post.

    Thanks
  • mikers1981mikers1981 Member Posts: 17
    I can't understand how people want to lease this car with rates still so high. They want MORE per month on a 4 cyl Altima than my Maxima SV. I refuse to get this car until the rates drop significantly.
  • piston631piston631 Member Posts: 5
    edited November 2012
    Today I made a deal to lease a 2013 Nissan Altima 2.5 SL with Navigation and Technology Package. I'm curious for some feed back on how good of a deal the forum thinks I got. I have until Wednesday to change my mind. Here are the details:

    The List Price: $30,905.00

    36 month lease with 15,000 miles per year for $375.00 per month

    At signing I will pay the first months lease payment of $375.00 and $247.50 for all taxes, title and fees (so after signing I will be left with 35 payments).

    How do you think I did?

    Thank You
  • syrsyr Member Posts: 10
    Did you know? $375.00 for 36 months and 15k a year 0 down will get you a fully loaded Maxima MSRP over 40k.
  • mikers1981mikers1981 Member Posts: 17
    It's true
  • refrunnerrefrunner Member Posts: 7
    Car Man, do you have the November MF and residual for a 2013 Altima Sedan 2.5 SL for 12K miles & 36 months in Florida.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for mc22. Nissan Motor Acceptance Corp.'s November buy rate lease money factor and residual value for a 24-month lease of a 2013 Altima Sedan 2.5 SV with 15,000 miles per year are .00130 and 69% for consumers who qualify for its top credit tier. The numbers for an otherwise identical 36-month lease are .00147 and 60%.

    Here's the rest of the numbers for the other models:

    2.5 SL: .00130 / 67% & .00147 / 59%
    3.5 SV: .00130 / 71% & .00147 / 62%
    3.5 SL: .00130 / 70% & .00147 / 61%

    Yes, the $625 regional cash incentive on leases of this car is still available in November.

    Nissan might have an Auto Show rebate, but I haven't seen anything about it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go refrunner. Nissan Motor Acceptance Corp.'s November buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima Sedan 2.5 SL with 12,000 miles per year in Florida are .00147 and 60% for consumers who qualify for its top credit tier.

    There is a $625 cash incentive on leases of this car in your state right now.

    Car_man
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  • brz66brz66 Member Posts: 8
    Car Man, do you have the November MF and residual for a 2013 Altima Sedan 2.5 SL with NAV and Tech package - 12K miles & 39 months in New York?

    Thanks
  • siryelofsiryelof Member Posts: 2
    Hey all -- this thread keeps coming up on every search, so now that I have a quote, figure it's time to add my voice/question to the discussion.

    First the old numbers: I'm finishing up a 39-month lease, my first lease ever, on a 2010 Altima 2.5 S for which I paid $269/month after $3800 down (trade-in + down payment + rebate/incentive) on gross cost of $26288. I have 3 payments left ($810) before it's due back in March. A prelim evaluation by a dealer suggests the small dent on the side door will set me back about $900 in wear & tear charges (or $400 if I take advantage of the -$500 new lease rebate). It's at 33k miles and I was about to get its 30k service when I thought I'd inquire about ending the lease early to start a new one. The dealership was more than happy to oblige and we dug into it together.

    Now the new numbers: I asked to lease a 2013 Altima 2.5 SV with no extra packages. Its MSRP is $24,100 but including splash mats + floor mats + destination fees = $25,210 total.

    I asked for rates with $2000 down. He gave me 24 months @ $309 and 36 months @ $297.

    I said I was surprised, given the car cost less than my Altima, that he couldn't come closer to my $269 rate. (Never mind that I put more down with the trade-in.) He postured that the car was recently redesigned, that rates are always higher on redesigned cars, blah blah blah. He asked me to come halfway, increase down payment to $2500 and he could get closer to $269.

    I said I couldn't. Holidays and all. He asked for $2250. I said I'm better off making my final payments and deciding in February. I packed up to leave.

    He told me to wait. He finally came back with my same $2000 payment and 36 months @ $279/month. I got him to agree to leave the deal on the table to the end of the month so I could evaluate.

    I'm still trying to find the right calculator to understand what I'm paying for interest (he never showed me a term sheet with rates or residuals or whatnot), and whether this is a good deal as a lease or if I should consider switching to buying. I'm paying for that door in Feb if I don't pay for it now, not to mention 30k-mile maintenance, probably tires, and other 3-year surprises.

    Appreciate any and all opinions, calculations, comparisons, etc., from Car Man or others.

    --Jeff
  • nissansucks2nissansucks2 Member Posts: 1
    I was just charged $400 for a "disposition fee"... what does this mean?

    They charge you $400 if at the end of your lease you decide not to buy or lease another Nissan car.
  • pegasus17pegasus17 Member Posts: 536
    Fairly common. i am facing the same $400 fee when my Hyundai lease expires. It is clearly stated in the loan docs. FWIW, Honda doesn't charge that and has a fairly liberal damage policy on their leases...
  • kresgekresge Member Posts: 2
    Hi guys would love some input on the following deal offered to me;

    2013 SL with tech package sticker $30000
    Negotiated down to $27,875
    Residual @ 60%= $18k
    Money factor @ .00147
    $2000 down
    36 month/12k

    Dealer stated that this comes out to $299/month includes tax with $1400 due at signing, which includes 1st pmt. thoughts? By my numbers the monthly pmt should be lower with the given numbers...
  • piston631piston631 Member Posts: 5
    Pegasus17,

    Here is the deal that I got on Long Island, NY on 11/07/12

    2013 2.5 SL with Tech Package
    Sticker Price: $30,905.00
    Negotiated Price: $28,082.96
    Residual = $18,233.95
    Money Factor: .00147
    Money Down: 1st months payment of $375.89 + fees = $548.89 (I probably could have gotten my fees down another $75.00 if I pushed harder)
    Monthly Payment: $375.89 (total of 35 payments)
    Term: 36 month
    Miles Per Month: 15k

    That's it. Nothing else. The above included all taxes and all fees.

    I hope this helps,

    Rich
  • pegasus17pegasus17 Member Posts: 536
    ref: 1721
    I get 359 per month (pre-tax) with zero down using your numbers and a 595 acq fee. I never put down more than 500 out-the-door on a lease. BTW, i got 30280 on the nissan site for a 2.5 SL with tech pkg...
  • pegasus17pegasus17 Member Posts: 536
    edited November 2012
    ref: 1722
    I also get 359 (pre-tax) with your numbers (59% residual). Assuming an 8% tax rate in lovely NY state, your payment would be 388 per month. So you got a better deal if your numbers are correct...
    http://www.leaseguide.com/calc.htm
  • piston631piston631 Member Posts: 5
    Pegasus17,

    I took the numbers directly off the Nissan Lease Contract. Sales tax in my county is 8.625%. The MSRP you found for the car on the Nissan website probably did not include a couple of the extras on my car. The car I leased has illuminated kick plates, exterior ground lighting, trunk first aid and road hazard kit and possibly another extra or two. The extras pushed the MSRP up to $30,905. Best of luck. I hope the info I shared with you helps you to get the best deal possible.

    Rich
  • johnny2001johnny2001 Member Posts: 15
    2013 2.5s
    $229 per month with zero down and zero cap cost reduction.
    Upfront with all taxes, fees and 1st month is 2082.11
  • pegasus17pegasus17 Member Posts: 536
    REF: 1726
    Need more info to assess your deal
    See posts 1721 and 1722 for the proper way to post a deal for analysis.
    msrp, sale price, residual%, mf, tax rate, fee estimate...
  • pegasus17pegasus17 Member Posts: 536
    ref: 1725
    After 3 weeks, how do you like the car?
  • kresgekresge Member Posts: 2
    Just a follow up to #1721

    Negotiated 2013 SL w/tech package down to:
    $299/month taxes included
    $2000 trade in value
    $500 due at signing (drive away)

    36 month/ 12K lease
    $30100 msrp
    $27875 negotiated
    60% residual
    .00147 money factor
    6.25% tax

    Any final thoughts?? Seems like a fair deal...
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited November 2012
    Here's the information that you're looking for brz66. Nissan Motor Acceptance Corp.'s November buy rate lease money factor and residual value for a 39-month lease of a 2013 Altima Sedan 2.5 SL 4-cylinder and 12,000 miles per year are .00190 and 55%.

    The 36-month terms for this car actually look slightly better, .00147 and 60%.

    In your area there is a $625 cash incentive on leases of this car right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Jeff. If I was in a lease that was scheduled to run through February I personally would probably wait until then to get something new. You don't have to perform the 30,000 mile service on a leased vehicle and if your car only has 30,000 miles on it you probably won't have to get new tires for it either.

    While it's difficult to predict exactly what manufacturers will do with their future incentives programs, I suspect that the lease program for the 2013 Altima will be at least as attractive in February as it is right now. Not only will the new Altima have been on the market for several more months and that "new vehicle novelty" will have started to wear off likely causing Nissan to provide more support on it, but Nissan usually runs President's Day specials. I got my current car during one a couple of years ago.

    Of course as I said it's impossible to say what will happen for certain, but if I was in your position I personally would wait.

    Car_man
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  • pegasus17pegasus17 Member Posts: 536
    edited November 2012
    REF:1729
    Actually, it quite a good deal. I get 299 (pre-tax) using your numbers. With tax, it's ~318 per month. Good job; enjoy your car
  • greggde23greggde23 Member Posts: 2
    Where in Long Island did you get this deal?
This discussion has been closed.