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Nissan Altima Lease Questions

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  • pegasus17pegasus17 Member Posts: 536
    actually, 324 should be your target for 15k miles per year
    the 298 is for 12k per year
    good luck
  • mit4mit4 Member Posts: 1
    State MA: I'm planning to lease 3 yr / 15K miles for 2013 Nissan Altima 2.5 SV (with the technology package). Online MSRP comes to about 28K incl. sales tax of 6.25% (with the convenience and navigation package). If I am planning to put about 3K down payment, what monthly rate range should I aim for? Thanks!
  • rccbrandonrccbrandon Member Posts: 7
    In July, I'm going to be returning my 2010 Altima 2.5S, for which I'm paying $299 plus tax (around $325 total). If I get another Nissan, this will be my 3rd Nissan from this particular dealership. In reading these forums, I'm not sure I got such a good deal on this car. I had no idea that I could negotiate my lease (I should have done more research). I decided I want the 2013 2.5SL, but don't really want to pay that much more than I'm paying now. Long story short, is it wrong of me to expect an incentive to lease another Nissan?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rccbrandon. I don't believe that Nissan is currently offering any owner loyalty incentives on the Altima right now. You can still negotiate a good deal on one but you won't be given any additional benefit that I am aware of for being a returning customer.

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  • kekkalanekekkalane Member Posts: 1
    edited February 2013
    mit4: I just leased my 3rd Nissan Altima. This time I got the 2.5 SV. With no down payment, my payments are about $350/month. With your down payment, you should negotiate for $325/month or less (for a fully loaded 2.5 SV).

    Being a repeat customer benefits you if your current lease is through NMAC. I learned on my most recent trip to my dealership that once you have made 18 payments on time to NMAC, you are considered a valued lessee and could get any Nissan you wanted! Because I know better, I stepped away from the GTR in the showroom and got an Altima with more features than my last.

    Hope this helps!
  • giovanni0311giovanni0311 Member Posts: 4
    edited February 2013
    Today i finally talked to the dealership after doing intense research of my own to try and learn as much as possible and after i asked what other fees i would be paying she said i would have to pay for the miles. Now after all the research i have done and not once did i pass by a forum or tip/advice guide on leasing that i would have to pay for the mileage.

    Anyways even if i did it wouldn't be bad because it would be an extra $50 a month. Here is the fine print on the ad in the newspaper :

    42 month lease. Payment excludes miles and requires the minimum annual mile package of 5,000. prices include all costs to be paid by consumer except your local sales tax, actual registration, and title fee. Prices based on primary lender approval at best tier. Must take delivery from dealer stock. closed end lease without purchase option. Lessee responsible for excess wear and tear. No security deposit required. ) 0 due at inception, total of payments:($9163.00 for Altima.)

    The value mileage package is 15k for 13cents a mile and the monthly payment of 2.5s is 99 a month for 42month. It also says 0 due at signing right under the picture of the altima and 0 due at inception in the fine print. On the top of the ad it says "zero down, zero 1st month payment, zero bank fee."

    Also will i be paying the tax on the monthly payments ? or in just once in the beginning?

    My question is this a good lease deal or should i not even bother?

    Thanks in Advance.
  • pegasus17pegasus17 Member Posts: 536
    ref: 1792
    Is that a Nissan (NMAC) lease offer?
    sounds very shady.
    A rule of thumb for lease is $11 per month for every 1k of msrp for a standard 12k/36 month lease. Tax on leases varies by state.
    where are you?
  • giovanni0311giovanni0311 Member Posts: 4
    edited February 2013
    In brooklyn, new york. It also does not say anything about nmac.
  • giovanni0311giovanni0311 Member Posts: 4
    I guess this is a really good deal then based on your last post or am i wrong?
  • giovanni0311giovanni0311 Member Posts: 4
    Just talked to the dealership once again and i do have to pay for the miles which comes to an extra 1950 a year/12 month is 162+99 a month= 261 a month..
  • kyfdxkyfdx Moderator Posts: 236,577
    That's not a Nissan lease. I'd be very leery of any lease with a base of 15K miles over three years. Seems like you might be looking at a big gotcha at lease end.

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  • jmccourtjmccourt Member Posts: 2
    I picked up a 2013 Nissan Altima SL w/ Tech package today in Columbus, OH. 36 months/12k miles per year. Here are the terms I agreed to:

    MSRP: 31,255.00
    Sale Price: 28,702.95
    Gross Cap Cost: 30,403.99
    Trade in Allowance: 1,571.97
    Adj. Cap Cost: 28,832.02
    Residual Value: 18,440.45

    Total Monthly Payment: 322.69

    Only out of pocket was first month's payment. I also got all scheduled maintenance included for the entirety of the lease. They increased my trade in value by about $250 rather than reducing my sales price in order to meet my monthly payment target, but I was fine with that. Overall, I was satisfied with the deal. So far, seems like a great car for the price. Hope this info helps any future buyers.
  • pegasus17pegasus17 Member Posts: 536
    REF: 1799
    why did the gross cap cost go up so much? Only add should have been acq fee of 595 (or so). It went up much more than that...
  • jmccourtjmccourt Member Posts: 2
    $595 Acqisition Fee
    $727 Sales Tax
    $100 Title, License & Registration
    $279 Maintenance Contract (They claimed this needed to be itemized even though it was "included" in the lease. Guess they might have got me with this one... oops. Oh well, I'm still satisfied with the deal. It's a nice car).
  • pegasus17pegasus17 Member Posts: 536
    edited February 2013
    REF: 1801
    Don't you hate when dealers/finance guys do that? Sorry to point that out but it is still a good deal overall. BTW, scheduled mx for the first 36 months is probably limited to five oil changes and tire rotations. So essentially, you paid for those upfront, with interest. Enjoy your new ride!
  • gator2323gator2323 Member Posts: 3
    edited February 2013
    I am about to pull the trigger on this deal and wanted some input/thoughts. Thanks in advance for taking a look. This is my first post here, but I have been reading the forums for some time.

    2013 Altima 2.5 SL
    MSRP 28780
    36 month lease, 15k miles yearly
    $400 down
    $315 per month, tax included
    I live in Orlando Florida and the tax rate is 6.5%
    They are also paying the last payment of my 2010 Accord EXL which is an additional $325

    Unfortunately I do not have the MF, Residual% and/or sales price they are using as I know you folks typically like, but I figured I would take a shot to see what you all thought of this deal anyway.

    I was deciding between a new EXL or this vehicle and I couldn't get my Honda dealer down anywhere close to this. Plus I also signed up for the Edmunds/Nissan $750 gift card deal, so that is a bonus too.

    Thoughts? Again, sorry for not having more info at this time, I will post more if I get it.
  • seanknpseanknp Member Posts: 1
    that sounds like a great deal, what was the amount of your trade value? also if you find out can you let us know about the residual and the money factor? ps i was quoted 318 for a sv for 12k per 36mo.
  • mdspinnermdspinner Member Posts: 14
    Carman, can you update for Feb?

    Altima 2013: 2.5 sl and 3.5sl money factors and residuals for 36 or 39 months 12,000 miles a year. Based on my research, the 3.5 sl carries a better residual than the 2.5 which I find odd. In addition any cash/incentives in the Northeast for Feb? Would you predict a better program in March?

    Thanks!!!
  • gator2323gator2323 Member Posts: 3
    Thanks for the reply!

    Ok, I did the deal and here are the final numbers:

    2013 Altima 2.5 SL
    MSRP 28780

    SALES PRICE: 26,053
    TOTAL GROSS CAP COST: 26,648
    RESIDUAL VALUE: 16,404.60
    MONEY FACTOR: .00072

    36 month lease, 15k miles yearly
    $400 total down from me/out of pocket (Amount due was $1275 = my $400 and $875 in rebates and non-case credits)
    $315 per month, tax included (6.5%, Orlando, FL)

    They cut me a check for $325 to cover my last payment on my current lease.

    I had no trade in and only paid the $400 with 35 more payments of $315

    I also just submitted my info for the Edmunds/Nissan $750 gift card deal

    I think that covers it. So far very pleased with the car!

    Let me know your thoughts.

    Thanks!
  • tim_in_cttim_in_ct Member Posts: 3
    Hi all,
    Wanted to get your input on this offer and my calculations. I’m turning in a 2010 Altima at the end of a lease and exchanging it for a 2013 Altima 2.5 SL with Tech package. Told the dealer I’m putting nothing down, I want to drive in the old car and drive out the new one with no cost. Been leasing Alitmas for 12 years and this is the way I do it…
    36 Month lease.
    12,000 miles/year.
    Dealer’s offer was $375/month, including tax.

    My calculations:
    MSRP - $30,340
    Sale price - $27,979 (I’m using the Edmunds TMV here)
    Residual = 60% MSRP = $18,204
    MF = .00129
    Lease price = $352 (Using Edmunds calculator)

    If I include $100 for tax & registration, which is still a valid cost, and the $595 Acquisition Fee, then the lease price calculates to $374, which matches the dealers offer of $375. Since I believe they had to roll those costs in to their total, it seems fair that I do as well. But seems I've seen others on this site getting 2.5 SLs for $340 - $350 per month. If they are paying cash up front for Acq. Fee and Title/Reg., then that makes sense.

    Comments? Thanks for you help!!
  • gator2323gator2323 Member Posts: 3
    I just got a 2013 2.5 SL WITHOUT the tech package.

    I paid $400 upfront and got $315 for remaining 35 months of lease with 15K miles. Plus they cut me a check for $325 for my last lease payment on my prior car.

    The finance guy told me they used a MF of .00072 on my deal. Not sure why there would be a difference or how they swung the deal (the closest another dealer in town was going to get was $330/mo with $700 down.
  • mdspinnermdspinner Member Posts: 14
    Wow, 63% residual, did mrsp you quoted include 790$ destination? In my dealings, dealer always maintained the MF and residual were fixed by Nissan, 58% for 36 mo./15k up in NY, maybe higher residual if you are in FL.

    Good deal regardless. I'm still working on mine.

    Carman, any thoughts on whether Nissan allows any negotiation on MF rate and/or residual?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Certainly mdspinner. Nissan Motor Acceptance Corp.'s February buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima 2.5 SL with 12,000 miles per year are .00072 and 61% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a 2013 Altima 3.5 SL are .00072 and 62%.

    I don't think that Nissan is providing support on 39-month leases of these cars right now.

    In the Northeast, Nissan is providing a $375 cash incentive on leases of the '13 Altima Sedan.

    It's difficult to say what Nissan's March programs on the Altima will be like. I can tell you that there was no improvement in the Altima's programs from February to March last year, but...this is a different situation because the car was redesigned. Manufacturers usually try to cut way back on support on recently redesigned models when they are first introduced. The eventually have to ease back into it as the months progress. That's what seems to be happening with the '13 Altima. So it probably wouldn't hurt to wait if you're not in a hurry.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey mdspinner. Banks' residual values are usually essentially set in stone and cannot be negotiated. Vehicles' base money factors are set by banks, but dealers are allowed to mark them up from time to time. That's why it is important to find out what the buy rates are for the model that you are interested in prior to entering into negotiations.

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  • iusjaa1iusjaa1 Member Posts: 2
    How did you get 63% residual? MSRP of $28,780 with residual of $16404 = 57% residual.
  • chasfmchasfm Member Posts: 4
    I have a deal offered:

    $24,801
    $279/mth
    .60 residual
    .00072 MF

    However, the dealer says he will use 2 vouchers to get the cap cost down enough to hit that monthly payment. But he wont tell me the final cap cost and I have no info on the vouchers. I may not qualify for those vouchers. Any advice on how to proceed?
  • pegasus17pegasus17 Member Posts: 536
    edited February 2013
    REF: 1813
    Interesting deal. Quite low for the SV. However, without FULL DISCLOSURE, i would walk. Plenty of other choices in this segment (Accord, Camry, Sonata).
    BTW, a better, attainable price is 24200
  • oliver75oliver75 Member Posts: 2
    edited February 2013
    2013 Altima 3.5SL w/technology 36mo 12,000 miles per yr. for $397.00, I pay $706.00 which includes 1st mo lease pmt. The $397.00 seems high since Acura quoted $400.00 on a new lease on a TL front wheel drive and their sticker price is higher. I have 1 mo left on my Acura TL with only 27,000 miles versus the 36,000 allocated on the lease (not sure that matters). Altima will pay last lease pmt on the TL. Can I do better on the Altima I live in Illinois.....thank you!
  • pegasus17pegasus17 Member Posts: 536
    REF: 1815
    1. Have you considered trading the TL in if it has positive equity (value > payoff)?
    2. For that money, you can get the new Accord and still get a real tranny (not a CVT)

    http://pictures.dealer.com/v/vosshondaoh/1727/ac8044a50a0d02b701c6bbd3e20030ec.j- pg
  • oliver75oliver75 Member Posts: 2
    Hi Car Man - uncertain on the deal presented to me can you read #1815 and let me know your thoughts? Would like another opinion,
  • pegasus17pegasus17 Member Posts: 536
    edited February 2013
    If you can provide msrp and selling price, i can calculate the proper payment using this info from an earlier post:
    "The numbers for an otherwise identical lease of a 2013 Altima 3.5 SL are .00072 and 62%.
    I don't think that Nissan is providing support on 39-month leases of these cars right now.
    In the Northeast, Nissan is providing a $375 cash incentive on leases of the '13 Altima Sedan. "

    4dr Sdn V6 CVT 3.5 SL msrp $30,560 invoice $29,278

    UPDATE: Used the above data (no incentive, invoice sell price, pre-tax) i get 339/month for the std 36 month, 12k mile lease. Tax on leases varies by state so you have to add that in appropriately...
  • chasfmchasfm Member Posts: 4
    this same dealer sent me an offer that didnt include the T/T/L. when i asked about it he said
    Correct. Right now Nissan has Tax Credits so you will not be paying Taxes on this car.

    i asked for more details and if he had alink explaining this program. his reply
    It is no a published program for the general public. It is an internal program for Nissan dealers, meaning we do not have to tell you about it. It is usually used from profit, but I am giving it to you upfront in order to be aggressive and earn your business.

    is there such a thing? i am not the most experienced car buyer but i have never heard of a dealer essentially eating the tax. any guidance would be appreciated. thanks.
  • tedmon23tedmon23 Member Posts: 9
    I am a car dealers dream. I am a payment shopper, fits in my budget I am good to go. Here is the lease that I got for a 2013 altima sv 36 month 15,000 mile.
    I went with first months payment at signing.

    MSRP-25445
    Gross gap cost--22843.45
    Residual value--14873.90

    Monthly payment-255

    I turned in a 2010 Altima that they supposedly forgave the last two payments for me to get into this vehicle. I am happy with it.
  • rehab702rehab702 Member Posts: 14
    I have a lease expiring in a couple of weeks and I'm ready to pull the trigger on an Altima sedan.

    Can I get the March money factor and residuals for 36 mo 12k miles?

    Altima 2.5S
    2.5SV
    2.5SL

    I am in Nevada.

    Thanks!
  • rickt9868rickt9868 Member Posts: 2
    What do you have to do to get the $750 Nissan/Edmunds card?
  • rehab702rehab702 Member Posts: 14
    Apparently not everyone can get it. I'm ready to buy and was hoping to get it myself.
  • zorro414zorro414 Member Posts: 1
    I thought I was getting a good deal until i stumbled across this forum. Any feedback is greatly appreciated.
    22,000 miles/ year
    SL
    msrp $29,160
    36 month lease
    no money down/ only first payment due
    $435/ month including tax

    Thoughts?
  • the4acesthe4aces Member Posts: 1
    I am trying to buyout of my lease of a 2010 Nissan Altima.

    The residual value is $14800. I only put 32,000 miles on it when I could have put 48,000 miles on the car.

    The Nissan dealer is saying they need me to pay for another inspection ($300) and buy a new tire before they can sell me the car... Is this true? Also they say I need to pay a restocking fee of $300 before they can sell me the car.

    Does this sound right?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi oliver75. That payment does sound a little high. I personally wouldn't pay nearly $400 per month for an Altima. What is this car's MSRP and selling price? Those figures would help me to evaluate this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, rehab702. Nissan Motor Acceptance Corp.'s March buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima Sedan 2.5S with 12,000 miles per year are .00073 and 60% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of a '13 Altima Sedan 2.5 SV are .00073 and 59%.

    The numbers for an otherwise identical lease of a '13 Altima Sedan 2.5 SL are .00073 and 57%.

    Car_man
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  • rehab702rehab702 Member Posts: 14
    Thanks Car Man!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That was fast. You're very welcome!

    Car_man
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  • carolivarcarolivar Member Posts: 8
    Bad deal... I have an SL..and I pay 348 tax included. 15k yearly for 36 mon ths
  • carolivarcarolivar Member Posts: 8
    Nop..are u trying to lease another altima
  • joyceajoycea Member Posts: 1
    I'm so confused - any help would be greatly appreciated!
    I have this lease pending in CT:
    $329/month for 36 months, no money out of pocket:
    2013 Altima 2.5SV w/Navigation and Convenience pkg (moonroof)
    Illuminated kick plates included
    All Weather Floor Mats
    Oil changes no charge for one year
    12,000 miles per year
    36 month term
    Dealer pays remaining 3 months of 6 payments remaining on my 2010 Rogue ($349/mo = $1047)
    Nissan waives 3 months of 6 payments remaining on Rogue ($1047)
    Lease Loyalty Discout $500
    Lease Cash Discount $375
    Marketing Assessment Waived ($246)
    VIN Etch waived ($199)
    $0 down including all taxes and fees
    MSRP 30,525 (this seems high to me??)
    Residual $18,004
    Acquisition Fee $595
    Fees and Insurance $872
    Upfront Taxes $148
    Rebate as cap reduction $875
    Money Factor .00073 (1.752%)

    This is all the stuff itemized on the sheets printed out for me by the dealer..... what am I missing? All the calculators I've used on line come up with a lower monthly payment.... ???
    Thank you!
  • mdspinnermdspinner Member Posts: 14
    For numbers (new york), I was just in the dealer's office and they gave me the following:

    SL V6: 12K, 36 months: 62% residual, .00118 MF

    SL 2.5: 12K, 36 months: 58% residual, .00118 MF

    Carman, would/should there be a difference than the .00073 and 57% you quoted above on the 2.5 sl?
  • mdspinnermdspinner Member Posts: 14
    Couple things. First, Fees and insurance. Where do they get this #? Acquisition fee is usually in the MSRP--make sure its not in there twice.

    Second, navigation usually knocks down the residual at least a point or two.

    Third, what is the sales price of the car, MSRP minus rebates/loyalty cash? I would negotiate the sales price of the car before taking account of the rebates. Go on here, figure out the TMV and try and get that.
  • nsolisnsolis Member Posts: 17
    edited March 2013
    In the middle of a negotiation for a 2013 Altima 3.5 SL without the Tech Package. Anyone have any Cap Cost comparisons for that car? Think list is roughly $31,500 to $31, 900. Just curious what prices people have negotiated down to.

    Car Man, do you have the money factor and residual value figures for the 3.5 SL for the month of March?

    Thanks for your time in advance.

    -N
  • newgirl12345newgirl12345 Member Posts: 1
    We just leased a 2.5 sv with convenience package and navigation system over 36 months. We put $2600 down and our payments are $216/month. Did we get a good deal?
  • rehab702rehab702 Member Posts: 14
    Is the $375 lease cash available in Nevada? I received a quote that didn't include it.
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