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Nissan Altima Lease Questions

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    toxiktoxik Member Posts: 1
    Does anyone know the lease rates for a 36 month lease for the altima coupe, either the 2.5s or the 3.5se model?
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    doc519doc519 Member Posts: 3
    I am looking to lease a 2.5s CVT automatic with convenience plus package,abs and fog lights. Carsdirect gave a quote of $21,714. First of all is this a good price, can I get better. In addition, I want to take a 10k lease for 36 years. I live in New York area. I approximated that if I want to pay 500 down, the lease would cost me around 340 at best. Did anyone get a better deal in the New York area?
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    louiseblouiseb Member Posts: 12
    I wanted to know a fair price for a lease on an Altima Hybrid. 2007 Hybrid with convenience package, floor mats and splash gaurds. Sale price of $25,415. 39 months. 0 down. The dealer is telling me the fee for reg is 480.17, 299.50 for doc fees, 59.00 for title, 188.50 for etching (??) Tax in AZ is 8.1%
    Should I just buy instead of lease??
    Thanks in advance! :)
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    ct1211ct1211 Member Posts: 56
    Hi guys, I am looking for the June 2007 24 36 (39) month Money factors and residual for 12K miles for the Altima S SE Models - does any model have a killer "supported" rate avialble? Thanks so much for your help!!
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    ct1211ct1211 Member Posts: 56
    Hi Carman! I am looking for the June 2007 24 36 (39) month Money factors and residual value for 12K miles for the Altima S & SE Models - does any model have a killer "supported" rate avialble? Thanks so much for your help!! :shades:
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    pbs0626pbs0626 Member Posts: 18
    Hi Car_Man,

    Do you have the money factor and residual on 07 Nissan Altima, 2.5 with SL package, few other options, 36 and 39 month lease, 12K miles. MSRP with options is $25,635, dealer is selling at invoice $23,807. They quoted me on a 39 mo lease, 56% and .00214. On a 36, 58% and .00245.
    What do you think. Can buy this week if I can get the right numbers. Thanks!!!!!
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    movistarmovistar Member Posts: 22
    This is the deal I'm being offered
    07 Altima NAV, Leather Technology package, fog lights

    $33,005 MSRP
    $30,000 selling price
    36 month 12k per year
    .00214 money factor
    .59% residual
    $467 down
    $467 per month
    can I do better?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mlubes11. You never mentioned how long you want to lease this car for, so for now I will assume that you want a 36 month lease. Let me know if you want something different. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5 SL with 15,000 miles per year are .00199 and 56%, respectively. 15,000 miles per year is the highest mileage allowance that NMAC publishes residual values for. If you need to drive more than this, 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 the end of your lease and have to pay an excess mileage penalty.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dpanda. Through July 2nd, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5 SL with 12,000 miles per year are .00199 and 57%, respectively.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I see that you're interested in information on the new Altima Coupe, toxik. I think that it looks really cool, but I've always been a coupe guy :) . Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Coupe 2.5 S with an automatic transmission with 15,000 miles per year are .00295 and 60%, respectively. The numbers for an otherwise identical lease of an '08 Altima Coupe 3.5 SE with automatic are .00295 and 57%. The residual values for models that have manual transmissions are 2% lower.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi doc519. If I was in the market for this car in your area, I would shoot for a selling price of dealer invoice, or slightly over. You can look up the exact invoice price off the Altima that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing.

    Once you have a selling price that you're comfortable with, have the dealer that gives it to you calculate your lease payment using Nissan Motor Acceptance Corp.'s current 36 month buy rate lease money factor of .00199.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi louiseb. Nissan's lease program for the Altima Hybrid isn't very that great. NMAC;s current buy rate lease money factor and residual value for a 36 month lease of an '07 Altima Hybrid with 15,000 miles per year are .00259 and 55%, respectively.

    It would be easier for me to give you my opinion of the selling price that you were quoted if you are able to provide me with this car's MSRP or its dealer invoice price. The $300 doc fee that you mentioned is nothing more than a way for the dealer that you are working with to add extra profit to your deal. You should pass on the $200 for window etching.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, ct1211. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2007 Nissan Altima 2.5 S with 12,000 miles per year are .00199 and 59%, respectively. The numbers for an otherwise identical lease of an '07 Altima 3.5 SE are exactly the same. Unfortunately, no Altima trim levels have a "killer" lease program available on them right now.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pbs0626. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5 SL with 12,000 miles per year are .00199 and 57%, respectively. The numbers for an otherwise identical 39 month lease are .00230 and 56%. Dealer invoice is a very good selling price for this car right now.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi movistar. The money factor that you were quoted looks good to me. It is right in line with Nissan's .00199 buy rate plus a .00015 increase for a waived security deposit. The $3,000 discount that you are being given on this car looks good as well. If you like it, I personally don't see any reason not to go for it.

    Car_man
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    talon4x4talon4x4 Member Posts: 21
    I'm looking to lease an '07 Altima SL. I went to the dealer yesterday and they were very firm on the price and tight lipped about the details. He said it's such a hot car that they don't need to give great deals on it. Here's all I got.

    '07 Altima SL
    Anti-lock brakes
    floor mats

    36 month lease - $500 down - $417/month (The salesman said this price is based on a selling price of $700 over invoice, a $550 bank fee, and NY tax of 8.25%).

    Any help on this would be greatly appreciated.

    Thanks!
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    movistarmovistar Member Posts: 22
    Would it be worth it to pay the security deposit for the reduced money factor?
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    r5020r5020 Member Posts: 4
    Or can I do better?

    2007 Altima 3.5 SL
    MSRP:$32,865
    Purchase Price: $29,685
    Down Payment: 3,000
    Lease: 36 mo/45,000 miles
    .00239 money factor (5.7%) $16,014 Residual
    Payment $437/mo
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    mnoghostmnoghost Member Posts: 11
    price for car is 25,795, i would be trading in a 99 mit galant which they were giving me 1,500$ for, monthly payments with just that are 449 a month for 39 months and 15,000 miles a year, which is ridiculous, and with the trade in and 3,000$ down which is also ridiculous, it is 369$ a month. are they joking or what? last year i got my 3.5 SE with con. package and spoiler and sunroof ect for 290$ a month with about 1,200$ down, now they want all that for a 4 cylinder? think ill stick with my SE
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    rumblebumblerumblebumble Member Posts: 7
    The latest 2.5 Lease program expired yesterday, July 2nd. Any word on a new program carman? others?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi talon4x4. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Basically, the most important number to know when leasing is your vehicle's selling price. $700 over dealer invoice is a decent price for an '07 Nissan Altima. The monthly payment that you were quoted looks about right for an '07 Altima 3.5 SL at $700 over invoice. I personally don't see any reason not to pull the trigger on this deal if you like the car.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi movistar. There's nothing wrong with either option. I have leased cars both ways. The nice thing about paying the security deposit is that you actually get it back at the end of your lease (assuming that your car is in good condition and that you're not over mileage).

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi r5020. The 2007 Nissan Altima 3.5 SL that you described probably has a spread of around $2,500 or so between its full MSRP and its dealer invoice price. You are being given a discount of over $3,000 on the car that you are interested in. This is an excellent price. The money factor that you were quoted looks a little on the high side though. Nissan Motor Acceptance Corp.'s new July buy rate lease money factor for a 36 month lease of this car is only .00175 with the payment of a security deposit at lease signing and .00200 with the deposit waived. Make sure that the dealer that you are working with uses this factor to calculate your monthly payment.

    Also, I see that you are considering making a $3,000 down payment on your lease. I always advise consumers against making large down payments on leased vehicles. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered. Even though your monthly payment would be a little higher, you would be better off going with a zero down lease. If you opt not to make a capitalized cost reduction, all you would have to pay at lease signing are your car's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, NMAC's $595 acquisition fee, and any required state taxes or fees.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello rumblebumble. I have seen Nissan's new July lease program and I would be happy to give you an idea of what it is like. You never mentioned how long you want to lease this car for or how many miles per year you need to be able to drive it, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5 S with 15,000 miles per year are .00199 and 58%, respectively.

    Car_man
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    visualbangvisualbang Member Posts: 3
    Two questions (w/ parts),
    1. When is the 2008 Altima Sedan going to be available?
    a. Will it be possily to get this car for invoice?

    2. It is possibly to get the 2007 altima sedan 2.5 S at or below invoice?
    a. Any special financing plans available that are not listed on edmunds?

    Thank you!
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    vfrenkelvfrenkel Member Posts: 2
    Hi,
    Do you have the money factor and residual for a 2007 Altima 2.5S 36months, 12K mi, with 6 speed trans for July 2007.

    Thanks!
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    black00black00 Member Posts: 48
    It seems very few people lease Altimas...

    Can anyone provide the lease terms (MF and residuals) for the new Altima Coupe?
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    flydustflydust Member Posts: 1
    hey guys, I need help. I want to get the 07 Altima's SE 3.5. I WANT LEATHER,xenon headlights,audio package, sunroof. I dont want the navigation. Basically I want to know how much I am expecting to lease this for. I want to lease it for 36 months. I might finance if payments are close. I also want to know if I should wait for any offers ? anyone know about any good offers ?helppp !!! thank you.
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    jazzy75jazzy75 Member Posts: 1
    We plan a 36-mos, no money down lease of a 2007 Nissan Altima. We live in MA. We have a choice of a CT or a MA dealership both within close proximity.

    The invoice price of exactly what we want is $20,783/MSRP is $22,275. That includes the destination charge of $625. What do we need to know for a good lease? One dealership is talking a 'sale' and the other isn't, so I'm leery of being horn-swaggled. Any advice?

    Do you pay sales tax on a lease? Or excise tax? If you are not buying the car, just leasing, shouldn't both of these taxes not apply?

    We are actually heading out for the test drives shortly. We have compared electronically and visually against the Honda Accords and Toyota Camrys. Today should be fun!
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    luvcarzrichluvcarzrich Member Posts: 36
    Hello all. I'm trying to help my father in law lease an Altima. He's looking at the 2.5 with SL package. MSRP of $25,075. carsdirect.com has the associated selling price at $22,623. Is this the price I should aim to have the lease based from? It includes a $500 rebate. While I can calculate a lease I'm not sure if rebates are purchase only.

    Can you guys tell me what you think? Also, if you have the current 36 mo MF - we're looking at 10,000 or 12,000 mi/year and have no issues with cap cost reduction.

    Lastly we have a paid off trade worth about $10k. Any ideas on how to structure this deal?

    Thanks!!
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    robyngrobyng Member Posts: 1
    This forum has been very helpful. Thanks to everyone who shares this information. I spent the weekend driving and negotiating and I would like some feedback on an offer I received by phone today.

    2008 Altima Coupe 2.5
    Dark slate/charcoal
    Convenience package
    Moonroof
    Fog lights

    $359/month
    36 months/15k miles
    $2000 down and dealer will add another $500 to down payment

    This is the same dealership that offered me a 3.5 coupe for $399 but I decided it was more power than I needed. They also offered to take over the remainder of my Subaru lease but I haven't given them the details yet ($266/month for another 5 months).

    I'm skeptical because they are not charging the $3k ADM that the other dealers said was immovable, and $359 seems too low. I haven't received the paperwork yet on this offer so there may be something hidden.

    Robyn
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    thedorkthedork Member Posts: 10
    Hi Car-man,

    Could you please help me with the current APR % for Altima 2.5 S manual or automatic and please share how the destination charge works.

    I want to lease Altima 2.5 S manual ( if it is hard to find auto is OK too ) with ABS

    36 months
    12K/year
    $0 down

    How much should be my monthly payment if I can get an invoice price for both manual or auto with ABS ( which should not more than $300 on the top of the invoice)

    Thank you,
    Thedork
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi visualbang. Nissan just introduced a lease program on the 2008 Altima Sedan yesterday.

    In an area that has a high level of competition, I suspect that it may be possible to lease an '07 Altima for pretty close to dealer invoice right now. It may still be a little early to lease an '08 model at invoice. You may be able to get an idea of how much you will have to pay for one right now by visiting the following discussion: "Nissan Altima: Prices Paid & Buying Experience".

    As far as special financing rates go, in August Nissan is offering 1.9% to 2.9% on the '07 Altima Sedan and 2.9% to 4.9% on the '08 Altima Sedan.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the latest info for you, vfrenkel. Nissan Motor Acceptance Corp.'s new buy rate lease money factor and residual value for a 36 month lease of a 2007 Altima 2.5S with 12,000 miles per year are .00199 and 59%, respectively.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello black00. This car's lease program varies by trim level, term, and mileage allowance. You never mentioned what any of these variables are, so for now I will assume that you are interested in leasing a 2008 Nissan Altima Coupe 2.5S with an automatic transmission for 36 months with 15,000 miles per year. Let me know if you want something different. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for this car are .00295 and 59%, respectively.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey jazzy75. You definitely are on the right track. To get a good deal on a lease of this car, you need to negotiate as low a selling price as possible. Dealer invoice is a good target for a lease of an '07 Altima right now, but you may end up having to pay a couple hundred dollars above that. Once you arrive at a selling price that you are happy with, have the dealer that gave it to you calculate your lease payment using Nissan Motor Acceptance Corp.'s buy rate lease money factor. NMAC's current buy rate for a 36 month lease of an '07 Altima S or SL is .00199.

    You will be required to pay your home state's sales tax on a leased vehicle. The method that is used to calculate sales tax on leases varies from state to state. The last time that I looked into how sales tax is calculated on leases in Mass,it was is charged on the entire lease payment (i.e. capital cost and finance cost), on a monthly basis. For example: if your lease payment is $316 (~$250 capital, $66 finance), and you pay a 5% tax on that $316, it would bring the the total payment up to $331.80. Note that in Mass you'll also have to pay personal property tax (2.5% p.a.) on the value of the whole car. This may have changed because it has been a couple of years since I looked into this, so check with your dealer or local DMV to make certain this is still how things are done in your area.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey flydust. You never mentioned the selling price or MSRP of the Altima 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 what car's selling price is 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 work up a sample lease payment on the car that you are interested in for you if you let me know what these numbers are.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi luvcarzrich. You should shoot for a selling price that is as close to dealer invoice as possible on an '07 Altima. You can look up this car's invoice price by visiting the following section of this site: Edmunds.com New Vehicle Pricing. The $500 customer cash that is available on purchases of the '07 Altima is not compatible with its special lease program.

    As far as this car's lease program goes, Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Altima 2.5 SL with 12,000 miles per year are .00199 and 57%, respectively. I don't believe that NMAC offers leases with only 10,000 miles per year.

    If you decide to trade in your current vehicle when you lease your new Altima, make sure to have the dealer cut you a check for any equity that you have in it rather than use the proceeds from it as a down payment for your lease. I always advise consumers against making down payments on leases. Those who make them risk losing part or all of their money if their vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Robyn. Let me begin by saying that paying $3,000 over MSRP for a 2008 Altima Coupe is nuts. If that is what dealers are trying to charge for this car, wait a few months and I am sure that they will change their tune. As far as this specific deal goes, you never mentioned this car's selling price or MSRP. 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 what car's selling price is 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@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Thedork. Since we are in a discussion about leasing, by APR percentage I assume that you mean this car's money factor. If you mean its conventional financing rate instead let me know. Nissan Motor Acceptance Corp., Nissan's captive finance company, uses money factors instead of interest rates to calculate the interest portion of lease payments. You can convert its published money factors into approximate interest rate equivalents by multiplying them by 2400. NMAC's current buy rate lease money factor for a 36 month lease of a 2007 Altima 2.5 S is .00199. This is equivalent to an interest rate of around 4.78%.

    Destination charges are essentially part of vehicles' prices. All consumers who purchase or lease a new '07 Altima 2.5 S will have to pay a $625 destination charge.

    I would be happy to use Nissan's current lease program to estimate what the monthly payment should be for the car that you are interested in if you provide me with its MSRP and selling price.

    Car_man
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    goodorbadgoodorbad Member Posts: 1
    Deal 1

    $3000 Out of pocket for all fees and everything included

    $205 a month including for 39months including taxes

    10,000 miles a year

    This guy wants $19,000 for the car (but i think he bs because its standard)

    Deal 2

    1,000 Down payment
    625 Destination Fee
    298 Documentation Fee

    $200 + Tax

    $17,500

    12,000 Miles a year 39 months as well.

    Which deal is better? Are there any other better deals, or anything else i should know about?
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    movistarmovistar Member Posts: 22
    I know that nmac doesn't offer 10,000 miles per year.
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    black00black00 Member Posts: 48
    Hi Car_man. Thanks for the terms. Actually I wanted to know the lease terms for the Altima Coupe for the both the 2.5 and the 3.5 V6 to be able to compare. I'm really more interested in the V6. The MF is pretty high!
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    mlubes11mlubes11 Member Posts: 4
    I just leased a 2007 Altima 2.5S with convenience plus. Sales tax for a lease in Philly is 10%. Did a 39 month lease. I put $900 down and my monthly is $350. Also, since the normal warranty is only 3 years 36K I extended it for only $321 to cover the whole 39 mo 49K mi. Does this seem like a decent deal?

    **I also got out of my lease with two payments left at no penalty and the payments were NOT rolled in
    ...and the $900 was all I paid at signing...
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    bolekbolek Member Posts: 5
    I would definitelly NOT lease Altima at this price. I do realize that this is haw much they want them for at this time but just to compare – In April I returned the 2 year lease of Altima 3.5 SL – fully loaded and I mean fully – leather, Navi, Sirius, HID lights etc. I got it for 349/month paying up front only tax and fees - around 1100 out of my pocket at the lease signing. If I did that for 3 years – it would be between 320-330. Now I realize what a great deal I had. Of course the car evolved during the last two years but comparing the MSRP of 32K…well compare it yourself.
    Earlier this year I looked at the TL – for the price you are paying you would get the 34K car with V6, leather, waaaaaay better radio dual Xenon lights etc. etc.
    To me, current Altima lease is just not way overpriced. It would probably make much more sense to buy it…but that’s just my opinion. Good luck with your car!
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    thebordcuthebordcu Member Posts: 8
    We are looking to take advantage of the lease end early deal from Nissan and going into another Altima.
    Is this a good deal?

    2.5 S with Convenience Plus Package
    39 months, 12K yr
    $500 out of pocket to start (we have a coupon from Nissan so this will be about $250)
    $290 month
    All NJ taxes rolled into lease

    Thanks!
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    uofmrapperuofmrapper Member Posts: 4
    I haggled with the Nissan dealer for awhile and this is what I came away with (I didn't get the car but this is as far as my negotiating got):

    2.5 S (no convenience pkg)
    msrp: $21,845
    my price: $20,264 (invoice is $19,727 but I get it 20,264 with Nissan VPP D Plan)
    $500 of my own cash
    $500 graduate program cash
    acq fee: $595
    residual (book): 58%
    residual (Net): 59%
    money factor: .00214
    $203 in fees (doc & reg)
    36/month
    12,000 miles a year
    zip code: 48042 (MI sales tax %6)
    monthly payment: $296.62

    The printout that I was given with these numbers on it also shows
    Gross cap cost of $20,859
    cash reduc: $461.87
    net cap cost: $20,397

    I think that based on a net cap cost of $20,397, $296/month is about right. But I think that the net cap cost should be $20,264 + 595 - 461 - 500 down - 500 grad prog = $19,398.

    My questions are, should I push to get it down to $19398? And should I push to get the money factor lower to .00199? I'd like to get a $250-$275/month payment with max $500 down. Would I be able to get one with a conv pkg for this?

    Sorry for all the info, but hopefully it will be helpful in answering my questions. Thanks all!
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    si_nissansi_nissan Member Posts: 1
    I have an 05 Altima S base model that I leased. The lease is almost up and I am very over the allowed miles. I would like to know what my options are if I want to get a new vehicle (99% sure it will be a Nissan SUV) without losing my shirt. I would like to finance this new vehicle. I am in NY if that matters.
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    egoody25egoody25 Member Posts: 1
    I just got quoted $279 for a 2007 Altima S, 36 months, 12K/year miles. This is in NY and is a sign and drive with taxes and everything included except for the first month's payment.

    This seems like a great offer. Should I jump at it or can I still do better?

    Thanks,

    Eric
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    mikey08mikey08 Member Posts: 5
    I am in the exact same situation as you. Same model, year, way over miles, and my lease ends at the end of Dec. The Nissan dealer told me every year Nissan puts out a program to give back your lease and they eat the rest of your payments if you buy/lease a new Nissan. Carman, any idea if one of these programs are on the way? Do they usually waive the penalties. Do I have any hope?
    Thanks for any help.

    PS i live in Taxachusetts.
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