Nissan Altima Lease Questions

berea1 · November 2006

While having my 1999 Altima serviced, inquired about leasing a 2006 Altima Special Edition. THe MSRP is $ 21,535, the sales price is $ 20,309 ($ 200 aBOVE INVOICE), the invoice is $ 21,109. mY MONTHLY PAYMENT FOR 39 MONTHS WOULD BE $ 305.00, WITH $ 1,600 DOWN. u ASKED FOR THE CAP ARATE AND WAS TOLD 3% INTEREST. tHE PURCHASE PRICE AT THE END OF THE LEASE WOULD BE $ 11,198. I realize that I just popped in as I was there for 2 hours waiting for my car to be serviced, BUT THIS LOOKS LIKE A TERRIBLE DEAL FROM A DEALER WHERE I PURCHASED MY 1999 ALTIMA AND MY 2000 SENTRA SE! Please tell me what I should be able to get the Altima for?

creepypauly · November 2006

I dont think that dealer is telling you the real deal for the Month of November on 2006 Altimas.. THe money factor we got was .00025 which is .61% interest.yes...below 1%!!
$500.00 cash back on the lease PLUS Nissan paid the sales tax on the car.

chiku18 · December 2006

Here in Tampa FL, I am getting deal for 2006 Altima 2.5 S w/Special Edition for 249 / Month with 0 Down.

Please Let me know if its good deal

salmon06 · December 2006

I have deal to lease a 2007 3.5SL with a price of 27.712 and a MSRP of 29,455. The lease would be for 36 months and $686 down. The monthly payments are $467.The miles would be 15K a year. My purchas price at the end of the lease is $16,939. Is the a good deal?

dotsync · December 2006

does anyone know this months (december) exact 06 altima lease promos? like mf, rebates, etc...

ive been told the dealer has a $540 holdback and there is $500 lease cash plus a 0.00025 MF. anything else i should know about?

thanks, nick

CarMan@Edmunds · December 2006

Here's the information that you're looking for, newt250. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Altima 3.5 SE with 15,000 miles per year are .00259 and 58%, respectively. The numbers for an otherwise identical lease of an '07 Altima 3.5 SL are .00259 and 60%.

Car_man
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CarMan@Edmunds · December 2006

Hi berea1. If you are in an area that has a decent level of competition, you probably will be able to lease a 2006 Nissan Altima for slightly over dealer invoice minus the $500 lease cash that is currently available on it. Once the lease cash is subtracted it would bring you to around $300 under invoice. Once you have arrived at an attractive selling price, have the dealer that you are working with calculate your car's monthly payment using its buy rate lease money factor of .00025 and you're in business.

Car_man
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CarMan@Edmunds · December 2006

Hi chiku18. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

Car_man
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CarMan@Edmunds · December 2006

Greetings salmon06. A base 2007 Nissan Altima 3.5SL has a spread of $2,135 between its full MSRP and dealer invoice price. The discount that you were quoted for this car, $1,743 looks pretty good to me, but it wouldn't hurt to stop by the following discussion to see how much other community members have paid for similar vehicles lately: KarenS, "Nissan Altima: Prices Paid & Buying Experience" #, 3 Dec 2001 8:48 am. Make sure that the dealer that you are working with is using this car's 36 month buy rate lease money factor of .00259 and you're in business.

Car_man
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CarMan@Edmunds · December 2006

Hey Nick. The $500 lease cash and .00025 money factor that you have heard about are correct for the 2006 Nissan Altima. Use the lease cash to negotiate an attractive capitalized cost for your lease and have the dealer calculate your car's monthly payment using this money factor and you're in business.

Car_man
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es_car3 · December 2006

Hi Car_man! What's the Nissan Motor Acceptance Corp.'s current buy rate lease Money Factor and Residual Value for(1) a 36-month lease of a 2007 Altima 2.5S and/or 2.5S w/SL package, 12,000 miles; and (2) a 39-month lease of a 2007 Altima 2.5S and/or 2.5S w/SL package, also 12,000 miles? Thanks so much!

es_car3 · December 2006

Also would be interested to find out Money Factor and Residual Value for a 39 month lease of a 2007 Altima 3.5 SE with 12,000 miles.

dotsync · December 2006

Here is what i have:

just to note... they are getting the car from queens, ny for me (380 mile trip). i located the car and asked them to dealer trade it.

MSRP: 25155
INV: 23259
Term: 36 mo
Mi: 15k
Init CAP: 23500 - includes locate fee to get car
+ ACQ fee: 550
+ Title/Lic: 142.50
+ Tax 8% - 957.35
- Rebate: 500
Res: 53% - 13332.15
MF: 0.00025
0 down, taxes/fees financed
first payment due at signing
Payment: 318.75 x 36

Good deal?? sounds like it to me...

its an expensive car for me. i was looking at a 2.5s BUT the 3.5se seems like a better deal to me... also it probably will have better resale value. i know a car is not an investment but the SE seems like the better buy of the 2.

benito_salinas · December 2006

Hello,
I leased a 06 altima 2.4 S w/ Special Edition package for $600 down and $230 a month for 42 months. The balance remaining at the end of the lease is around $10,500. Is this a good deal???

Benito

enkur · December 2006

Hi I was quoted the following lease by a local dealer
2007 3.5 SL with Tech pkg, floor mat set & splash gaurd
MSRP 31325
Neg price 29115 (delear claims this is $215 over invoice)
36 month 12K/yr
$2000 down and $450/month

I asked the dealer for the residual and MF and they quoted 59% and 0.0028

This lease is in TX so price has to include full sales tax. Do you think I am getting a good deal. I think the MF is high and the residual is low. The dealer claims these are NMAC numbers.

benito_salinas · December 2006

Hello,
I was told at my local nissan dealership that NISSAN was paying for sales tax this month, so get your best deal, then ask them on this. I would contact another dealer and confirm, then leave this for the end so they do not use it as a bargain tool.
I got my lease and all with NO SALES TAX on my contract.

BTW, I am in Texas as well.

enkur · December 2006

Hmm.. that sounds very interesting and will make a very nice deal. The dealer did not mention anything about that. I basically ended up walking out as I wasnt satisfied with the financing.
I think the dealer is trying to stick it to me because they made a mistake in the original quote they gave me over the internet (they applied some 2006 incentives to the 2007 price). So after much haggling they agreed to $215 over invoice. So I think thats why they dont want to give me any additional incentives.

Where in Texas are you located. I am in Austin

creepypauly · December 2006

Nick, I did a lease on a 2006 and in texas we have to pay the full sales tax up front on the cap cost. Same deal 500 cash back, money factor of .00025 PLUS nissan ate the 6.25% sales tax on the car..I was told in Nov and possible in Dec that Nissan was paying the sales tax on the leases.

dotsync · December 2006

i think this no sales tax deal comes from dealing with msrp... not invoice. if you work your best deal from invoice, you'll most likely end up paying sales tax because the dealer is not making much to begin with.

stompman76 · December 2006

Hi carman, I really apprecaiate your services. This deal quoted by a Scottsdale AZ dealer seems awful high.

MSRP - $32,715
Invoice - $29,833
Selling price - $31,800

36 months / 12k miles per year

They quoted a price of $584 per month with a money factor of .00274, and a residual of 60%, does this compute?

Thanks in advance.

stompman76 · December 2006

I spoke to the dealer again (Pinnacle Nissan) in Scottsdale, he says he's now selling the car at cost before the 25th, but the residual and money factor changed.

MSRP - $32,715
Invoice - $29,833
Selling price - $29,833

39 months / 12k miles per year

They quoted a price of $488 per month with a money factor of .0031, and a residual of 58%. He dropped $96/mo pretty quick, is there more money on the table?

enkur · December 2006

I think we are going to see some bad leases on 2007 models in terms of MF and residuals until the 2006 models are gone. I think these dealers want to get rid of their stock and upping the lease terms on 2007 so as to pressure you into a 2006. Atleast this was the impression from my dealer, as the finance guy kept coming back with deals on 2006 models and I kept telling him "I am not interested in 2006 model as it doesnt even look like the 2007"

guest · December 2006

Not true..The no tax deal had nothing to do with the sticker..the car was a 2006 Altima SL..We got 1400 off the sticker from the dealer..500 Nissan Cash back for the lease..Another 500 cash back for the college grad program( my son) for a total of 2400 off the sticker. In texas we have to pay the total tax up front vs on the payment..But in this case Nissan did not charge the sales tax on the car and was not added to the cap cost..Nissan used a money factor of .00025 ..sticker $24,845..How could one pass on that deal. 1440 sales tax savings , 3,000 in interest savings..

liv4gzus · December 2006

First time out here so please bear with me. I have leased twice before but after reading the posts out here I realize how very little I know about leasing. Normally I just keep working the salesperson until I get the car into the price range (monthly payment) I want and then sign for the car. Now I am not sure if this is the right approach after reading through this site.

Is there a set equation you can use to tell if you are actually getting a good deal when leasing? I have been offered a payment of $336 per month for an the car listed in my header, with an MSRP of $23585 for an 07 Altima with ABS, splash guards, and convenience plus package. The MSRP is the price he is working off of.

I have a Honda lease from the same dealership with $1600 left on the lease. They say they will pay this off but I know that I will eat some if not most of what is left on the Honda lease. Is that monthly payment a good deal or should I wait until they start putting out incentive programs after the 1st of the year? I thought the $336 was not a bad lease price for 36 months at 15k miles per year. Now I am not so sure. Is this good deal or is there a better way to handle a lease? I am confused as hell after reading this site. Thank you.

Mark

PS This is what I sarted with originally from this dealership:

2007 ALTIMA 2.5 S 4DR AUTO
RADIANT SILVER, FROST
CN2 Includes:
- & Extenders
- Dual Sun Visors w/Illuminated Vanity Mirrors
- Steering Wheel-Mounted Audio Controls
- Leather-Wrapped Steering Wheel
- Key Fob Operated Front Windows Down
- Front Passenger Power Window w/One Touch Auto Up/Down
- Automatic On/Off Headlights
- 8-Way Power Driver's Seat
- 16" Alloy Wheels (replaces std wheels)
- Power Sliding Glass Moonroof w/Tilt Feature
- CONVENIENCE PLUS PACKAGE
EAP EAP EMERGENCY AID PACKAGE
FLO FLOOR MATS
SGD SPLASH GARDS
CAL CALIFORNIA EMISSIONS
MSRP $23,505
LIA DISC $ 1,400
REBATE THERE ARE NO APPLICABLE REBATES AT THIS TIME
YOU CAN LEASE THIS VEHICLE WITH 0 DOWN FOR $398 PER MONTH,FOR 36 MONTHS
15,000 MILES PER YEAR.

es_car3 · December 2006

What's LIA DISC $1,400? And does $336/month include taxes?

jmpellet · December 2006

I have an Altima lease right now about to end in March (I got a good deal at $170/mo for 24 mo) -- really low miles at 17,000. It seems like there are some good deals to be had where I am in the Boston/RI markets. The dealer where I leased my current vehicle (Quirk) has a $159/mo no money down special. It probably includes a college grad discount for which I don't apply. I don't want really any other options on the "S" as this is a second vehicle I use just to travel to/from work. Should I expect to pay less or more if I turn the car back in 3 months early. Has anyone evr done a re-Nissan lease and used the coupons they send you? Thanks!

jrub · January 2007

After being quoted 460 440 420 and 380 for a base SE 3.5...
I ended up with what i have posted below.

07 Altima SE 3.5 SE Pemium package. MSRP 29550

$400 month
39 month lease/3yr
0 down

SOund about right?

Now the guy that quoted me the 380 base is telling me 359

.

What gives

es_car3 · January 2007

$0 down....taxes/fees included or extra?

jrub · January 2007

just picked it up tonight. 399 was the final. I had to put down 540 some odd dollars for first payment and plates. Taxes were included. Dealer told me he made 0 profit on the deal and wanted the unit cause the month end for them was Jan 2nd cause of new years.

The dealer that quoted me the 359 was for the base SE. He came in lower than the 399 by a few bucks but I already put a deposit down with the other folks.

jeffschu · January 2007

Hi Fellas,

I am looking at a 2007 SL with every available option. Could you please provide me with the MF and Residual for 36 and 39 months and 12k miles? I live in the Cincinnati area.

Thanks in advance,
Jeff

sdozier82 · January 2007

Good evening! I have been quoted a lease price of $325 f/39 mos on a 2007 3.5 SE (automatic) base model, no extras. That quote is including a $3000 down payment. Is this a good deal? They originally quoted me $389. After reading some posts, it just seems like a lot of people are getting payments just a little higher with much less down.... I am new to both buying/leasing - please help! S. Dozier

tictac3 · January 2007

Way too high! I was quoted last night $402/mo for an SE 3.5 w/ cvt, sport pkg, mats, flaps and emergency kit. The lease is for 36 months and 15k miles per year. Quote includes PA 9% tax. NO MONEY UP FRONT!! Same lease for 48 months is $353/mo. I live in suburban Philly area

dotsync · January 2007

do you have the msrp and selling price of the vehicle? also, fees, money factor, and residual would be helpful.

thanks!
nick

lili1 · January 2007

read my reply in the other topic/thread.

petesamprs · January 2007

Carman,
I'm trying to run the numbers for a 2007 altima lease. Can you provide me with the missing data below (indicated by "??")? I'm trying to identify which trim and miles/yr is the best deal right now. thx

2.5 S 3.5 SE 3.5 SL
MF ?? 0.00259 0.00259
10,000 ?? ?? ??
12,000 ?? ?? ??
15,000 ?? 58% 60%

dotsync · January 2007

Putting all the info you gave me into a lease calculator (http://www.leaseguide.com/calc.htm), I am coming up with a $353.40/mo lease payment.

MSRP: 26855
NEG PRICE: 24738 ($1 over invoice, source: carsdirect.com)
MF: 0.00224
RES: 16382 (61% msrp)
ACQ, DMV, and 1ST PMT due at signing (about $1000)
$0 down

I would go over your numbers with a fine tooth comb. The MF seems lower than what Nissan is currently offering (i'm currently confirming this) and they may be inflating the disclosed invoice. Use the url to the lease calculator I gave you and download the lease spreadsheet off of carbuyingtips.com (http://www.carbuyingtips.com/regm.xls). Fill in all your info and bring it to the stealership. If you can, bring it in on a laptop and plug in the numbers with them. If they start saying your software is off, walk away from the deal. That spreadsheet is extremely accurate and is based on the Federal Consumer Leasing Act.

Good luck and hopefully and you knock down that payment a few dollars.

Cheers!
Nick

EDIT: Re-reading your thread, i'm assuming you rolled the ACQ, DMV, and 1ST MO PMT. Rolling this ~$1000 should yield you with a pmt of about $386.12. Still, you should see what you can do to lower that payment. Maybe they are quoting you 1% over invoice instead of $1 and charging you more for DMV fees than their cost. Here in NY dealer cost for DMV is about $141, i'm unsure of what PA is but look into it. Your leasing tax structure in PA may be different as well. The best thing to do is just make sure all the numbers are disclosed and run them yourself to make sure you are getting the actual deal they are quoting.

greenacura · January 2007

I am trying to lease a 2007 Altima SL with navigation. I visited one dealer and they quoted me $599 per month with $2,100 in fees and cap costs reduction. Of course I walked away from this deal. I was told by the dealer however, that the dealers are selling at full sticker and not discounting or offering aggressive leases. I have a current quote for $505 per month for an Acura TL w/nav (3yrs/15k per year). I really like the Altima but would not pay more than a TL for it. Has anyone rec'd a quote for an SL with nav?

dotsync · January 2007

Do you have the MSRP of the said vehicle? Also, money factor, residual, and fees would help.

To get the best deal, just tell them you are not willing to pay more than invoice for the vehicle. Come in armed with all the current lease rates and figures (Money Factors, Residuals, fees, etc). Once I get them from Tarry at Lease Compare, I will post them. If Car_Man knows them, he will probably post them as well. Once you have these figures, lay it out for the dealership. Invoice + Fees @ current rates and you have a deal. Work the numbers yourself. If they don't take it, move on to the next dealer. Don't be mean, just lay it out real clean and easy. If they play the old "we arent making any money with this deal" remind them that they make holdback and assure them you are not trying to have them lose money.

And for leasing, try working a deal with no cap reduction. Then once your numbers look good, you can put down some money to bring the payment lower. Always work the numbers yourself first before making or taking an offer. Read carbuyingtips.com for some good leasing strategies.

Good Luck!
- Nick

PS... have you looked at the 2007 Accord lease promos right now? I am so tempted to grab one BUT they are pretty hard customize with an aftermarket sound system. If this isn't an issue for you, you can get a fully loaded Accord for under $400/mo on a 36mo/15k lease, no money out of pocket.

dotsync · January 2007

2007 Altima and Maxima lease rates:

http://forums.roadfly.com/forums/financing/8200400-1.html

jrub · January 2007

IT was down to the Accord EX-L and the 3.5 SE for me. THe honda people, on December 30th quoted me 367 w/just first month down on a 36 month 15k lease. VEry tempting but I liked the HP in the SE to much to pass it up

tictac3 · January 2007

Dot:
Thanks for the info; BUT, your number has me paying $1000 at inception. My deal rolls all costs into the lease.

dotsync · January 2007

read the edit... i was confused as to what you were rolling and what you were paying at signing.

cheers,
nick

lili1 · January 2007

What is site to get invoice price on the 07 Altima priced out based on option and packages I choose.

For example:
3.5SE, manual, leather package, VDC, splash guard.

kyfdx · January 2007

2007 Nissan Altima: Pricing

lili1 · January 2007

What is the current residue value % and the Nissan money factor for the 3.5 SE?

How about the 3.5 SL?

dotsync · January 2007

see post #193

CarMan@Edmunds · January 2007

Hi es_car3. Here is 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 2007 Nissan Altima 2.5S with 12,000 miles per year are .00243 and 61%, respectively. The numbers for an otherwise identical 39 month lease of this car are .00259 and 60%. NMAC's current 36 month, 12k numbers for the 2007 Altima 2.5SL are .00243 and 58%. Its 39 month numbers are .00259 and 57%.

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CarMan@Edmunds · January 2007

Hey es_car3, NMAC's buy rate lease money factor and residual value for 36 month month lease of a 2007 Altima 3.5 SE with 12,000 miles per year are .00243 and 60%, respectively. Its 39 month, 12k numbers are .00259 and interestingly 59%.

Car_man
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CarMan@Edmunds · January 2007

Hi dotsync. Nissan is currently providing $500 lease cash on the 2006 Altima. So the selling price that you were quoted for this car is around $750 over invoice. I have seen better prices than this, but if you are having this car transported a long distance from another dealer it is going to cost you. The money factor that you were quoted looks about right to me. This car's new January lease program for the parameters that you are interested in are .00016 and 52%. This looks like a pretty good deal to me, but you might be able to save yourself a few hundred dollars by finding a local car that wouldn't have to be swapped for and shipped.

Car_man
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CarMan@Edmunds · January 2007

Hello Benito. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

Car_man
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