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Nissan Altima Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello kimble22. Here's 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 15,000 miles per year are .00155 and 57%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mlees33. NMAC's lease money factors do not vary by mileage allowance, but its residual values do. Its residuals for leases with only 12,000 miles per year are 1% higher than its residuals for 15,000 mile per year leases.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, pfje. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2008 Nissan Altima 3.5 Coupe with an automatic transmission and 15,000 miles per year are .00259 and 66%, respectively. Using these numbers, an MSRP of $26,515, and a selling price of $26,000, I estimate that this car's zero down, pre-tax monthly payment should be around $467. As you can see, it is pretty expensive to lease this car for two years. The payment for an otherwise identical three year lease would drop to a more reasonable $423.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello footinthefire. 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 12,000 miles per year are .00155 and 58%, respectively. The numbers for an otherwise identical lease of a 2007 Altima 3.5 SE are .00175 and 57%. Nissan is not currently providing any cash incentives on leases of this model.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pjneder. One dollar over dealer invoice is a very good price for a lease of an '08 Altima Coupe right now. I would be happy to give you an idea of what this car's lease program is currently like, but it varies by term and mileage allowance. 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 2008 Nissan Altima 2.5 Coupe S with an automatic transmission and 15,000 miles per year are .00259 and 58%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings jng657. You can look up this car's dealer invoice price in the New Vehicle Pricing section of Edmunds.com. If I was in the market for an '08 Altima Sedan in an area that has a decent level of competition right now, I personally would shoot for a selling price of around $500 over invoice.

    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.

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  • jat12jat12 Member Posts: 10
    I recently got a quote from a LI dealer for a 2008 Nissan Altima with navi/technology package....

    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!
  • qbrozenqbrozen Member Posts: 32,933
    You are missing way too much info to get any accurate help. Coupe or sedan? 3.5? 2.5? auto? manual? what is the msrp? what is the cap cost? money factor? residual? fees?

    '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

  • jat12jat12 Member Posts: 10
    Sorry, obv you can tell I am new at this!
    4 door sedan-white/blonde
    3.5
    automatic

    14703.15 Residual Value
    MSRP = 25595
    Money Factor = .00214
  • jat12jat12 Member Posts: 10
    oops I mean 2.5
  • jat12jat12 Member Posts: 10
    Cap reduction $1462
    First pyment 253.32
    Bank Fee 595
    Taxes 744.91
    --------
    $3055.23
    This is the breakdown of the downpayment
  • qbrozenqbrozen Member Posts: 32,933
    ok, well, first off, that is not the MSRP. MSRP is the sticker price. A 3.5 SE auto sedan with tech package is $31,405.

    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

  • qbrozenqbrozen Member Posts: 32,933
    so, certainly, as I said, that residual just can't be right.

    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

  • jat12jat12 Member Posts: 10
    wow, thanks. I am going to double check with the dealer about the residual, money factor and MSRP. The night I was there they said if i lease and sign that night they will work with me more on the downpayment. I think that is a clear indication that the price can move.... I have been reading posts and it seems like other ppl are gettting better deals. Would it be completely naive to think I might get a sign & drive for 300 a month?
  • qbrozenqbrozen Member Posts: 32,933
    maybe on a 3-year lease. But on a 2-year deal, that's another $3k to pay off in just 24 months. If they are already giving you VPP and college rebate, I don't think there is any room to move on the price.

    '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

  • jat12jat12 Member Posts: 10
    They said it was taken off the invoice price... How do I know if they really applied it or not?
  • qbrozenqbrozen Member Posts: 32,933
    well, by the cap cost. that would be the "purchase price" before taxes and fees are added.

    '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

  • jat12jat12 Member Posts: 10
    and the cap seems reasonable considering the discounts? I am sorry I ask so many questions I am SO new at this.
  • qbrozenqbrozen Member Posts: 32,933
    you never listed the cap cost.

    '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

  • jat12jat12 Member Posts: 10
    That is different from the Cap reduction?
  • qbrozenqbrozen Member Posts: 32,933
    yes. Cap cost is the PRICE of the vehicle. What you are paying for it. So it should be something like invoice minus $500, or as I mentioned earlier, somewhere around $23k.

    '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

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nickoooch. I would be happy to estimate what this car's lease payment should be for you, but in order for me to do so I also need its MSRP. Let me know what it is and I'll crunch some numbers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cars0153. The lease programs for the 2008 Nissan Altima and the 2008 Honda Accord are actually not that different. The Altima's money factors seem to be a little better, but the difference is probably mitigated by the Accord's slightly higher residual values. The difference between their programs is small enough that you should just test drive both cars and go with the one that your wife likes better.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, Vlad. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima 2.5 S Sedan with a manual transmission with 12,000 miles per year are .00239 and 63%, respectively. The numbers for an otherwise identical lease of a 2007 model are .00155 and 58%.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, scraggs. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2008 Nissan Altima SE Coupe with an automatic transmission and 12,000 miles per year are .00259 and 67%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello dexion. Unfortunately, the $1,000 cash incentive that Nissan is providing on the 2007 Altima this month is not compatible with its special lease program.

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  • jv0704jv0704 Member Posts: 3
    It was traded in for $16,500 for my 04' 350z
  • qbrozenqbrozen Member Posts: 32,933
    Whoa Whoa Whoa!!

    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

  • greanpea68greanpea68 Member Posts: 1,996
    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

    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!!!
  • greanpea68greanpea68 Member Posts: 1,996
    MSRP = 25595

    If your MSRP is $25595 than you are not looking at a Altima with the tech pkg.
  • dexiondexion Member Posts: 6
    Need a quick response!

    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.
  • jv0704jv0704 Member Posts: 3
    well i got back my other $9,000 through check from them.
    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?
  • roach21roach21 Member Posts: 2
    2.5S Nissan Altima with the convenience package.. need help
    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
  • cbrett1984cbrett1984 Member Posts: 1
    I am looking at a new 2008 Altima 2.5 SL with MSRP 28,735. It has the full tech package, etc. What should these lease payments be at 15k miles a year and what would I have to put down. Thank you very much.
  • qbrozenqbrozen Member Posts: 32,933
    Ok. Whew! You left out the part about the check, which is why I said you were robbed. That was a VERY important detail!

    '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

  • qbrozenqbrozen Member Posts: 32,933
    You need to understand the effect negative equity has on a lease. This $5799 needs to be paid off within the 39 months you are leasing the new car for. Simply broken down, that is $5799 divided by 39, which equals $148.69. So no matter what lease payment you get on the new vehicle, you then need to add $148.69 PLUS interest! I'm not sure what that exactly is, but let us, for ease of calculation, say it is $179. That leaves $400/mo for your lease without the negative equity.

    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

  • tpv123tpv123 Member Posts: 1
    Was quoted 260 a month for 39months $2500 trade in for a 1999 altima gxe with 115k miles....Got them to throw in tinted windows splash guards,and Aluminum Kick Plates.. msrp $22850...thanx for the feedback..picking it up tomm.....
  • altima100altima100 Member Posts: 1
    I am looking at a Nissan Altima 4 door sedan lease. Car is availabe at invoice price, There are no rebates or other incentives. Lease terms are: 595 acquistion fee, 39 months, 15000 miles, 61% residual, .00239 money factor. Would appreciated any advice on doing this deal by Oct 31 or waiting until November for whatever programs are available from Nissan.

    thanks
  • leodocleodoc Member Posts: 2
    Thanks in advance..this forum is awesome...

    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...
  • leodocleodoc Member Posts: 2
    forgot this info....42 month lease...12k miles per year...thanks again in advance
  • trazaktrazak Member Posts: 1
    Carman, do you have the current MF and residual percentage for the 08 Altima coupe SE with CVT and premium package with 12k/year for 39 months through NMAC ?
  • marilyn0913marilyn0913 Member Posts: 2
    I went to a dealership today here in NY to trade in my 2005 accord coupe for a murano. I was informed that I had negative equity of $4,500 and wouldnt be able to get into one. So they offered me a lease on a 2008 Nissan Altima 2.5 S. and i wanted to see if I am getting a good deal before I sign anything.

    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
  • tianliantianlian Member Posts: 1
    I'm currently in the market for a 2008 Nissan Altima 3.5SE with the Sports Package.

    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.
  • cnote2cnote2 Member Posts: 140
    I am looking into the 08 altima 3.5 SE but might opt for the 4cyl depending on my numbers. i just need the numbers for 36/39m and 12k. Can i have 07 and 08 numbers

    Thanks in advance
  • greanpea68greanpea68 Member Posts: 1,996
    They told me if I didnt have the negative equity my payments would be $298. Does this seem like a fair price?


    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?
  • greanpea68greanpea68 Member Posts: 1,996
    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?


    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.
  • marilyn0913marilyn0913 Member Posts: 2
    I live in NY state. And my negative equity was $4,700 not $4,500. I actually leased the car already, and so far I am very very HAPPY with it! Its an awesome car. :)
  • greanpea68greanpea68 Member Posts: 1,996
    I am very very HAPPY with it! Its an awesome car.

    Congratulations and enjoy the vehicle you got a great deal :)
  • pcantorepcantore Member Posts: 148
    Sorry, but what is the VPP???

    Thanks!!
  • greanpea68greanpea68 Member Posts: 1,996
    what is the VPP???

    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.
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