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Nissan Altima Lease Questions
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Thank you!
Nissan Altima 3.5 SL, Black/Black; everything included except Tech Package. (No need for NAV in 2013 and the presence of smart phones/personal GPS devices; the 3 other parts of the NAV package seemed excessive.)
PRICE OF CAR
MSRP - $31,475
Selling Price - $28,000
Acquisition Fee and Doc Fee - $595 + $372 = $967
Rebates - $500 Loyalty and $375 Leasing Altima = ($875)
Total Cap Cost - $28,092
FINANCE NUMBERS
Money Factor - .00073
15K Miles Per Year/Residual of 60% of MSRP - $18,885
MONEY PAID AT DEALER AT CLOSING
First Months Payment/Title Fee/Registration Fee/Minimal Cap Cost Reduction and Associated Tax to get my payment to an even $301 = ($301/$50/$75/$236.22 and $14.76) = $677
$283.30 + $17.70 = $301/month.
Moreover, I turned in my 2010 Nissan 2.5 SL lease and per usual with Nissan, they waived my wear and tear charges of $380. (They waive up to $500 if you buy/lease another Nissan).
How'd I do Car_man?
Tried to get them to itemize all of the fees which turned out to be quite difficult and the numbers don't seem to exactly match what was posted here.
Altima 2.5S
MSRP: 23,850
Sale Price: 21,200 (including delivery) - They claimed this was $700 off their cost.
MF: .00073
Here is what was throwing me off
Residual: 61% - Saw this as 60% here (not that i'm complaining)
$14,704 was hand written as the "buy out" I assume residual value, but I don't see how they arrived at that using either 61% or 60%.
$249 Doc Fees
$595 Acquisition
$330 Title, Tags (4 years registration)
For a truly no money down (they pay first payment) including 7% tax:
$269 x 35 remaining payments
No mention was made of the $375 cash incentive.
Using the leaseguide calculator and the stated 61% residual I get a payment including 7% tax of $262.34 (this is essentially the same as 35 payments of $269 that they quoted.
If they were to include the $375 lease cash I've seen advertised I get $251 X 36 months
Using the "buy out" number quoted (w/ no incentive) I get a payment of $257 (36 months). With the cash incentive I arrive at: $245.52 (36 months)
After the information overload, I guess my question is what does everyone think? Is this a fair value for this model? What quotes are others getting for a 2.5S?
Any input appreciated.
MSRP $25,840
42 mo
10K mi/year
Including PA taxes 6%
Nothing down
Doc fees about $85
$450 return fee unless repeat lease
$500 allowance for return damage
PA registration and plates $220 extra
$265 / mo
Is this a good deal? Thanks.
I am picking up an Altima SV with conv package, splash guards, mats, external ground lighting on Friday for $269 per month.
This is for 36 months, 12k per year. The only payment on Friday will be the first month's payment ($269). I live in NJ which has a sales tax of 7%.
Thanks
Here is what I offered.
MSRP 31195 added spoiler and tint offering 400.00 as adder to MSRP 30795
Offered 27452
Fee's added 745. / 595 and 150 for doc
I want the rebates as down payment 500 loyalty , 500 St. Pat's
cap cost 27197
57% residual
.00073 money factor
3 year 15 k miles per year
7.55% tax
Car note 294.39
Tax 22.23
total per month 316.62
Am I crazy for asking for this deal ? As others have said BE STUBBORN . We still have 2 payments to go , so I have time
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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I don't think that Nissan is providing support on 39-month leases of this car right now.
If you need to drive more than 15,000 miles per year, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.
Nissan is providing a $375 cash incentive on leases of '13 Altima Sedans in your area right now.
Car_man
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Car_man
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Thank you for the helpful information.
Contacted 4 Nissan dealerships and they competed against each other . Came down to the 2 highest volumn dealers in St. Louis . Fair deal ?
15,000 miles
Msrp 26,930
Selling price 24,369
MF .00073
$1,000 at inception which includes 1st payment, doc and MV fees
Asking $289/ month ( which includes tax)
Is this a fair price? A couple of calculators have it around $245.
I am trying to figure out the best option on a lease for a 2013 Altima 2.5 SL or 3.5 SL. I've tried to figure out the most current money factor and residuals looking at past posts, but have been unsuccessful. Would you provide the both for both the 2.5 SL and 3.5 SL with 12k and 15k miles over 36 months? Also curious if there are any current lease incentives, I'm in Illinois.
Much appreciated!
Mike
i have an offer for a 24 month lease on a 2013 Altima S $185/ month+ Tax (199 Total). $1000 Down
MSRP : $23925
Price : $20495
Months : 24
Miles : 12,000/yr
Residual : $16508.25 (69%)
Rate : .00073
$185/ month + Tax for 23 months ($199 Total with tax). $1000 down (1000 down includes first month, TTL)
i see a few posters being offered 245/ month with 0 down on an SV for 36 months.
Carman, can you please tell me i am i getting a decent deal?
thanks.
I live in Southern California. I got this offer from SurfcityNissan. I got the car home Wednesday.
Car_man
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The numbers for an otherwise identical lease of a '13 Altima 3.5 SL are .00073 and 60%.
I believe that the residual values for leases with 12,000 miles per year through NMAC are still 1% higher.
Nissan is providing a $375 cash incentive on leases of this car in certain areas. This cash is probably available in Illinois.
Car_man
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Details:
Altima SV
Convenience Package
Navigation
Floor Mats
MSRP: $27,375
Lease:
36 mo / 12k miles
Selling Price: 24,648.00
Acquisition Fee: 595.00
1st payment and title charges rolled into lease: 399.89
Adjusted Cap Cost: $25,642.89
Residual = 60%
Money Factor: 0.00073
Money Down = $0
Payment = $286.76 + 23.23 tax = $309.99
This deal was done using the College Grad program.
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Dealer: Commonwealth Nissan in Lawrence, MA
MA Sales Tax: 6.25%
Car Details: 2013 Altima 2.5 SL with moonroof and mats
MSRP: $29,435
Edmunds.com TMV: $27,046
Invoice according to Edmunds.com: $26,956
Negotiated Price: $25,379 (including $790 destination fee)
Cap Cost Reductions:
$600 for recent college grad (within two years)
$375 Nissan lease cash
$2,500 trade-in negotiated value (TMV $2,800)
$2,000 down (our choice)
Other Fees/Costs:
$595 acquisition fee
$293 dealer doc fee
$170 registration/safety sticker/etc.
$290ish first month payment and sales tax on down payment rolled in
$890 negotiated price from $1024 for Maintenance Plus
- prepay all scheduled maintenance and unlimited tire repair
- we have had horrible luck with nails/potholes and didn't want to have to worry about these costs until after I graduate
Adjusted Capitalized Cost: $21,139 ($25,639 without trade and down payment)
Lease Details:
0.00073 money factor; set by Nissan for top two credit tiers
36 month term
12,000 mile annual limit
$17,072 residual value calculated using 58% March figure from Nissan
Payment:
$169.36 + $10.59 sales tax = $179.95
Without maintenance and roadside prepay it was $152 total
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Our finance guy was great and showed me the exact figures he was entering on his lease term sheet software as well as the packet of March money factors and residuals from Nissan. We achieved our goals of securing a good deal on a car we would want to own for 10 years, minimizing unplanned cost and uncertainty until I finish school, and plan on purchasing at the end of the lease term.
Don't forget the $750 Edmunds.com promotion for buying/leasing a 2013 Altima! Valid until 4/11/13.
Car_man
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The April numbers for the models that you are interested in are exactly the same as they were in March.
Car_man
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Car_man
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We are considering an Altima next time around..but...looking at the lease prices for a 3.5 SV, it appears that the Maxima can be leased for the same amount or less due to higher incentives. Is that a correct observation, CarMan? Thanks.
The last time I helped a friend lease a Nissan we found that the payment for an Altima and a Maxima were actually so close that it didn't make sense to go with an Altima V6. Of course the programs changed from month to month and that was a while ago.
If you provide me with the MSRPs and selling prices, or at least the MSRPs and dealer invoice prices (you can find that info here) of the cars you are considering I can use Nissan's actual lease program to work up payments on them for you so we can see just how much of a difference there is.
Car_man
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The deal they offered is no money down (I also have no trade-in) and payments of $328 WITH the care maintenance package. I was glad to get 3 yrs. / 15k miles per. Also, randomly got a paid first month (not deferred but paid) and tinted windows. Thanks for advice on the Altima! Secondly, is there any possibility to get a similar lease for a new Maxima too? In actuality I could afford up to $475 / mo. if it was an option currently. Thanks again.
We are looking at leasing a 2013 Altima SV 2.5
The numbers I am getting are:
Vehicle price: I don't know this
Down payment; $2499
Monthly payment; $229.85 x 36 months
12K/year
$15,591 final buy out price at the end.
Does this seem reasonable? Our credit scores are above 775 for what that's worth.
My own calculation show a total cost of $26,364.60 for a car that invoices at $23,379. Seems a little high which is why I am asking.
Thanks for any help you can provide.
CommOfficer
Dealer gave me a price for a 2.5SL $315/mo, $0down + taxes.
36 or 39mo 12kmiles/year
This includes 500 loyalty, 500 nmac, 375 nmac.
Disposition fee waived, 500 damage allowance, bank fee/acquisition waived.
All remaining payments on current vehicle are waived.
Only DMV fees and first month at signing.
Also will be able to take advantage of additional $500 for college grad program.
And he stated for navi/tech package it will be about another $15/month.
Altogether, including the college grad cash my calculations come out to be $300/mo w/out tech and $315 w/tech plus taxes.
This quote he gave me at the end of March - I told him I'll wait since I had time- dealer called me back in April and said that he could beat that price by another $10 for the month of April.
My hesitance is whether or not to wait until May where Memorial day may offer an extra incentive. Their current incentives (500+500+375) are set to expire in April, and although they usually do renew these incentives, there's no guarantee - do I go ahead and aim to get it this month or take the risk and wait to see what May has to offer?? I do have time on my side, but I'm not looking to push this much further.
If necessary - the numbers he had were:
57% residual
.00073 MF
Negotiated cost 27816-1375.
(Off topic, but he was also offering 3.5SL for $332/mo $0down, same deal)
Thanks!
Just leased a 2013 Altima 3.5 SL yesterday. Tell me how I did!
Options include:
Technology Package
Rear Spoiler
External Ground Lighting
Carpet Floor & Trunk Mats
Splash Guards
MSRP $33,425.00
Invoice $30,754.00
Final Cap Cost: $29229.87, which includes the following:
-Negotiated Price (Not sure what this ended up being because they switched to "Out The Door" figures after I got frustrated with some of the clouding of the figures.)
-Dealer Fee $689
-Tag/Other Fees
Money Factor: 0.00073
Residual Value: 60%
Bottom Line:
36 months/15,000 miles per year
$348.64 per month with ONLY 1st payment due at signing.
You've been a great help behind the scenes on multiple car threads as I shopped around!
Thanks,
Alex
I just leased a 2013 Nissan Altima 2.5 SL Edition. Here is the breakdown:
Car trade in (valued around $3,000)
298 per month, 36 months, 12k per year
0 money down, no 1st month payment, no fees to pay
Wheel Locks included
Did I get a good, decent, or bad deal? The car I traded in wasn't in great shape.
PLMK.
Thanks.
Dan
According to my calculations, if you were to lease a 2013 Nissan Altima Sedan 2.5 SL that has an MSRP of $28,400 and a selling price of $24,659 (which is great BTW) through NMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $266 assuming that you qualify for its top credit tier.
Car_man
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I see that you are considering making a $2,500 down payment on your lease. I always advise consumers not to make any capitalized cost reduction on leased vehicles. Consumers who put a lot of money down on leases risk losing part or all of the money that they laid out if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, it's much safer to go with a zero down lease.
Car_man
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Car_man
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Car_man
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I didnt pay for anything- no taxes, no registration, etc. Didnt lay out a single penny.
Only gave them $3,000 trade-in, Lease 12k miles/36 months, $298 per month
How did I do?
The best initial offer I had for a 36 month lease in April was:
-Net cap cost is $31095 ($30500 cap cost, $595 acquisition fee)
-Residual is $19905
-Money factor is .00073
-MSRP is $33175
Fees due at the beginning are:
$1314 due ($379 - first payment, $535 - first year license plates, $400 - doc fee)
Much appreciated,
Paul