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Nissan Altima Lease Questions
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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As far as its lease program goes, if you were to lease a 2008 Altima 2.5 S Sedan through NMAC right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00239 and 63%, respectively.
Car_man
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I have a VPP and also a student so thats two discounts and this is my quote...
3055 down
253/mo
12k per year
24 month lease
I feel like I am being ripped off.... Especially with such a high downpayment... This is my first time doing the negotiations and I need some serious help! I know negotiations can be made further because they said if i were to buy the car that night they would give me a better deal..... Is this a good deal though? What prices would you suggest me aiming to negotiate for? Is it possible to get the 07 with all these features? The salesperson told me 07 and 08 are priced exactly the same (which didnt make sense to me). I need help!
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
4 door sedan-white/blonde
3.5
automatic
14703.15 Residual Value
MSRP = 25595
Money Factor = .00214
First pyment 253.32
Bank Fee 595
Taxes 744.91
--------
$3055.23
This is the breakdown of the downpayment
Now, if your equipment level is wrong and the MSRP is correct, the residual has GOT to be wrong. That is only 57%. That would be a 3-year residual, not 2-year.
So, yeah, your quote is really really screwed up right now.
OK... wait... just saw your edit. it is a 2.5
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
A 2.5S with tech and convenience packages comes out to $25,355, so I'm just going with that for the hell of it.
If I assume VPP and college is like invoice minus $500, that gives you an initial cap cost of ~$23k?
A 2-year residual should be more in the low 60% range. Let's say 62%. That's about a $15,800 residual. leaving you with approximately $7200 to pay off. You are paying fees and taxes up front, so that should make it easy. You are paying $1400 cap cost reduction ... leaving you with $5800 to pay off over 24 months. That comes to $241.67 before interest. SOOOO... it seems to me they are pretty much on ... although that residual quote is wrong, I think the payments may be accurate.
Unless subsidized (which the new '08s aren't), a 2-year lease is not cheap. If you think about it, you are paying off over 35% depreciation in 24 months. That's ~18% per year. On a 3-year lease, you are typically paying about 45%, reducing the per year payments to 15%. And its probably even farther apart then that (like 19% vs 14%). So if you want to see your payments drop, try a 3-year plan. Or even just 30 months.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Since it already went through a major redesign for the 2007 model year, the 2008 Altima is basically the same as the 2007 model. The only difference between the two that I can think of is the inclusion of ABS as a standard feature on the '08 model. It was an option on the '07.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Let me try to put this all together....
You owed $7500 on your trade that was worth $16,500 AND you put an additional $2k down to get a LEASE of $270/mo on an Altima??!!
This can't be correct. No way. No how. If this is accurate, you need to call the police because you were ROBBED!
Are you sure you aren't BUYING the car on a 3-year finance contract??
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
3055 down
253/mo
12k per year
24 month lease
One you have VPP it is set pricing and it is very good pricing
Two: I'll bet you are looking at a 2.5 sl with teck pkg.
The lease you are getting is legit. It is a good deal. Stop worrying about and go get your new car so you don't have to sit in chat rooms.
The reason the 2007 and 2008 are priced the same is because it is VPP.
enjoy your new car!!!
If your MSRP is $25595 than you are not looking at a Altima with the tech pkg.
Went to my local dealer today, Rockland Nissan to get a price on a car I was looking at.
its a 2007 3.5SE with sport package, mats, splash guards, and manual transmission.
I owe 16,799 on a trade-in. They will give me $11,000 for my 04 2.5 which comes to Invoice&rebate ($23,236) with an addon of $5799 making it $26535 for the final cap cost. Using the 56% residual and the money factor of 0.00205 they quoted me $579/mo for 39 months.
I had to do a double take at the number when I saw it. He swears he didn't make a mistake but please someone tell me that this CAN'T be right.
so it is same as me selling the car for $16,500 and just putting $2,000 down and getting a 39mo lease for $270/month.
Why, is this not a good deal?
My husband said the car salesman in Naples Fl said we could have a payment of 339/month for 36months with 12K per year. I think the selling price is 21,000. My husband also said that it is more expensive if we go buy it in Syracuse NY. is that true or are the 2 dealers just bsing us? My husband is very trusting and doesn't want to ask a lot of questions but i am the total opposite! Please help. I would much rather buy the car in NY instead of leasing it and then driving it all the way up there.!
thanks in advance
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
I'm not sure how that all works out ... you can plug your numbers into Edmunds lease calculator and see if it adds up.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
thanks
can you please estimate for me the lease payment (or at least the numbers) for a lease on this vehicle with an msrp of approximately 30,000....0 down...?
If i am missing info, please let me know...i'm new to this...
The Purchase Price of the Altima is $20,010.
Down Payment: $1,494.64 includes Taxes, registration & first months payment
39 month lease 12,000 miles a year
Negative equity $4,500
$437.64 a month.
They told me if I didnt have the negative equity my payments would be $298. Does this seem like a fair price?
Thanks
Here's what I got from the dealership:
MSRP: 26,640
Money Factor: 0.00249
Lease Term: 39
Mileage: 15k per year
Residual Value: 15,431
$609.38 down at signing and $370.14 per month. (I have VPP so my base cop cost was $24,533.91 (based on what the deal said for C&D lvl)
The main red flags I see is that it's a 39 month lease as opposed to a 36. I tried using the lease calculator but the only way I got to $370.64 a month was after I added a $595 Acquisition Fee to the "Costs Added to Lease" blank.
The dealership I talked to said that my $24,533.91 should include everything fee wise but without the $595, I was getting $352.90 for my monthly payments.
How can I prove that something shady happened? Are those the correct Residual Value and Money Factor for a 2008 Nissan Altima 3.5SE with Sports Package? Or was it just my math?
Thanks very much for taking a look at this.
Thanks in advance
Yes if you are rolling in $4000 of Negative equity. Every $1000 is about $30 a moth on a lease. Which state do you live in?
When they use VPP you have to sign a VPP document which entitles you to the best rates that you qualify for. $595 for the ACC FEE is correct. You have to add that when you do a Lease. The reason for the Acc Fee is basically it includes GAP protection. Which protects you from liabilty if the car is stolen or totaled.
The reason for the 39 months is that it is a better program from Nissan so you get a lower payment.
Congratulations and enjoy the vehicle you got a great deal
Thanks!!
VPP stands for Vehicle Purchase Program.
Companies that are vendors of Nissan can recieve VPP pricing set from Nissan. You have to be a vendor or someone who works for Nissan. If you have a relative that works for corporate Nissan they can get you VPP pricing also. Once you qualify for the VPP Nissan will assign you VPP# which you can use once. If you use it once and then change your mind you have to go through Nissan and get another number. There a couple differant plans depending on how much you have to do withh Nissan. It also qualifies you for discounted interest rates ussualy a half a point less. In other words if you qualify for 1.9% with VPP yoou get 1.4%...
The person in the previous post was asking if the dealer was doing something scetchy. With VPpp a dealer can't do anything scetchy.