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Nissan Armada Lease Questions

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  • hendo44hendo44 Posts: 2
    I am looking at leasing either a 2011 Armada SL 4x4 with moonroof and dvd package or getting the Platinum. I have been quoted $529/month with $2000 down for 39 month lease on the SL and $599/month on the platinum. Money factor of 0.00096 and residuals of 51% on SL and 49% on platinum. Actual vehicle selling price was never brought up. Do these sound like good offers? Also, my brother just got a 2011 SL and his dealer put heated seats in for him, has anyone else had this done, will most dealers do that? That is really the only thing on the Platinum I would have a hard time living without.
  • fpinhofpinho Posts: 43
    Hi Carman,

    Could you please give me the numbers for the following:

    2011 Armada 4X4 Platinum 36 & 39 months with 10K miles per year

    and the numbers for an SE as well...

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi fpinho. NMAC's April buy rate lease money factor and residual value for a 36 month lease of a 2011 Armada Platinum 4WD with 10,000 miles per year are .00084 and 53%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • adefinaadefina Posts: 7
    Is $519. month plus tax a good or great quote for a 2011 Armada SL, 39 month lease, 10,000 MSRP at 44,000 in south florida? Couldn't get money factor or residual from the saleswoman.
  • billy215billy215 Posts: 2
    Hi Car Man,

    Would you be able to tell me the money factor and residual value for 36 or 39 month lease 15k for May on a 2011 Armada Platinum? I have two months on my existing lease, any advice? Also I should qualify for the top credit tier. What is your position on paying first month, tabs, tax etc up front versus rolled in?

    Thank you for your help.

    Bill
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi adefina. It would be easier for us to evaluate this deal is you were able to provide us with this truck's approximate selling price first. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You wouldn't finance this truck without knowing how much the dealer was charging you. Leasing it without the selling price is similar to that. Let us know what the selling price is and either myself or another knowledgeable community member will gladly let you know what they think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to Bill. NMAC's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Armada Platinum 4WD with 15,000 miles per year are .00048 and 49%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39 month lease are .00048 and 48%.

    There's really nothing that you can do to make the final two payments on your current lease disappear. You're either going to have to wait another month or two to get something new, eat those payments and turn your vehicle in early, or just let it sit in your driveway.

    I generally try to pay as little as possible at lease signing when I lease.

    Car_man
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  • billy215billy215 Posts: 2
    edited May 2011
    Car Man,

    Thanks for your response!

    What do you think of this?

    2011 Nissan Armada Platinum MSRP $55,690

    2. The Cap Cost is $49,167
    3. The Money Factor is .00048 residual 48%
    B) 39 Months x 15,000 Per Year with First Payment + License ($1,396.71) Down = $685.71 Per Month
    5. Fees include a $595 Aquisition Fee and $133 Electronic Filing & Documentation Fee

    Do you think I get the cap cost further down?
    Also they will pay for the 2 months lease payments left.
    The dealer said there is $3500 rebate available but only for financing and cannot apply to lease, is that true?
    He also claims I should buy soon as there is a lease "special" running, can you confirm that? and what exactly is the "special" they are running.

    Thanks for your Help,

    Bill
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Bill. It looks like you're already getting a substantial discount on this truck. I personally don't think that there's much more room to play with here. The money factor looks good as well. If you like this Armada, I personally don't see any reason not to go for it.

    What you were told is correct, the $3,500 cash incentive is not compatible with the special lease program.

    The lease that you were quoted is considered to be a special program.

    Car_man
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  • Hi Car_man,

    what are the lease terms for a 2011/12 Armada platinum with 12k/yr for 39 months. The MF and RV for both the 2011 and 2012 will help a lot!

    Also any lease incentives available?
  • Hi ahashmi. Nissan Motor Acceptance Corp.'s September buy rate lease money factor and residual value for a 36 month lease of a 2011 Armada Platinum 4WD with 12,000 miles per year are .00003 and 45%, respectively.

    The numbers for an otherwise identical lease of a 2012 model are .00163 and 51%.

    Car_man
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  • phish75phish75 Posts: 3
    edited October 2011
    Hello Mr Car man,

    Sorry if this a bit redundant, just having trouble piecing together all the emails. Here is what I am hoping you can assist with.

    I am looking to lease a 2011 (or 2012 if it is the better deal) SL or Platinum 4WD for 36 or 39 months with less than 12,000 miles per year.

    I live in IL, sales tax is 9.25%.

    I have a trade-in vehicle worth just over $5,000.

    Here are the price points I currently have:

    SL MSRP (w/ DVD Family Entertainment): $49,115
    SL sale price (cap cost): $38,837

    Platinum MSRP (w/ Captain Seats): $55,215
    Platinum sale price (cap cost): $45,528

    Would you be so kind to assist me in calculating what the monthly payment would be using this information?

    I have tried using the lease calculator but having difficult getting it to work correctly, not sure what I am doing wrong.

    Will be forever grateful!

    Thanks,
    Phish75
  • Sorry for the double post...just hoping you can assist as we are looking to move on this quickly...

    Sorry if this a bit redundant, just having trouble piecing together all the emails. Here is what I am hoping you can assist with.

    I am looking to lease a 2011 (or 2012 if it is the better deal) SL or Platinum 4WD for 36 or 39 months with less than 12,000 miles per year.

    I live in IL, sales tax is 9.25%.

    I have a trade-in vehicle worth just over $5,000.

    Here are the price points I currently have:

    SL MSRP (w/ DVD Family Entertainment): $49,115
    SL sale price (cap cost): $38,837

    Platinum MSRP (w/ Captain Seats): $55,215
    Platinum sale price (cap cost): $45,528

    Would you be so kind to assist me in calculating what the monthly payment would be using this information?

    I have tried using the lease calculator but having difficult getting it to work correctly, not sure what I am doing wrong.

    Will be forever grateful!

    Thanks,
    Phish75
  • Hi Phish75. Let's crunch some numbers and see what we come up with. Those were some large discounts. Were you quoted them for purchases or leases? If you were quoted them for a purchase they likely include some cash incentives that cannot be used in conjunction with the lease program.

    According to my calculations, If you were to lease a 2012 Armada SL 4WD that has an MSRP of $49,115 and a selling price of $38,837 through Nissan Motor Acceptance Corp. right now for 36-months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $440.

    The payment for an otherwise identical lease of a '12 Platinum 4WD (MSRP $55,215 / sale price (cap cost): $45,528) would be $562.

    Car_man
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  • Thanks car man. My apologies...I was including purchase incentives and rebates. Your numbers are helpful, just want to run a couple more.

    What residual number and % are you using?

    Here are the correct numbers:

    2011 Armada SL
    MSRP: $50,115
    Sale price: $45,092

    2011 Armada Platinum:
    MSRP: $54,765
    Sale price: $49,428

    Tax is 9.25%. Can you believe that? Only in IL!

    Also - what does a trade-in worth about $6,000 do? I understand this will cover the tax, but is the remaining amount applied to the balance due, therefore reducing monthly payments?

    Would I be better off purchasing on a 60 month no interest incentive, plus the $4,000 cash back?!

    THANK YOU SO MUCH AGAIN!
  • Hey phish75. I used a money factor and residual value of .00003 / 46% for the '11 Armada SL AWD and .00003 / 45% for the Platinum AWD.

    Using these numbers and the new prices that you provided, I come up with zero down, pre-tax monthly payments of $615 for the SL and $691 for the Platinum.

    There's nothing wrong with trading in your current vehicle, but you really shouldn't apply the proceeds from your lease towards a down payment. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered.

    You probably would be better off financing for 5 years at 0.9% or using a standard rate and the $4,000.

    Car_man
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  • Just picked up a new 2011 Galaxy Black Platinum Armada 4x4 lease with Captains Chair upgrade.

    39 months with 18k miles a year
    Only first payment due at signing (no tax, title or other monies due upfront)
    $696/month
    No bs back and forth stuff, everything figured out via email first. Walked in and out within 2 hours.

    Best way to get the greatest price is email every single dealer in a 100 mile radius who has the vehicle you are looking for and let the price match/beat wars begin. In my case this was 20 dealerships. The amounts I received from dealers ranged by $150/month. I'm happy with my purchase and the dealer I decided to go with had an outstanding reputation.
  • nick008nick008 Posts: 5
    Hi Carman,
    Need our help on this possible deal.
    In south florida, I want to give in my 2010 Nissan Armada Titanium which I am in 27 months of 39 month lease. I am allowable 15,000 miles per year but I am already at 40,000 miles. I want to trade the 2010 Armada for 2012 Nissan Armada 2WD SL with higher mileage (increase from 15,000 to 20,000 miles per year).

    2012 Nissan Armada 2WD SL comes DVD package, moonroof, splash guards, floor mats/cargo mat & destination fee
    Vehicle invoice cost $42,820.27 MSRP $47,910
    Markup (to pay-off 2010 Armada) $1,654.53
    Acquisition fee............................... $595
    Fees & Insurance............................$599.95
    Minus Leasing cash bonus ..............$100
    Adjusted Cap Rate....................$45,569.75
    Residual rate 44%
    money Factor 0.00005
    Mileage Allowance 15,000 miles/year thus additional 5,000 miles/year>total cost $1,650 ($0.10/mile additional for excess mileage)
    Monthly $713.22 (6% tax rate). That's too high
    Questions:
    1.How does Nissan manage trade-ins of the same vehicle with high mileage? They want to charge approx. $1,654.53 for that buy-out of the 2010 Armada into a new Armada
    2. I want to remove the acquisition fee ($595) & fees & insurance ($599.95) because they will charge me $599.95 for doc fees already. Is that reasonable?
    3.Their is $1,000 marketing support dealer cash. Can I take advantage of this to decrease the Adjusted Cap Rate?
    No money down, I am trying to negotiate down to approx. $610/month. Is that reasonable?
    Looking forward to hear from you.
    Thank you
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nick008. While it is obviously not ideal to get out of a lease this early, let's evaluate this deal on its own merits. It looks as though you are being charged the buy rate lease money factor for this Armada and a selling price of around $1,100 over invoice, which is not great...especially after the $1,000 dealer cash and $600 doc fee are taken into account. If you are in an area that has a decent level of competition, I wouldn't be surprised if you were able to shave at least $1,000 off of this truck's selling price... if not more.

    NMAC charges a $595 acquisition fee on every vehicle that it leases. Why are you being charged by the dealer for insurance? Don't you handle that on your own? Also, the $600 doc fee does indeed look steep. As I just mentioned, try to negotiate a lower selling price.

    Car_man
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  • dolphin5dolphin5 Posts: 26
    edited December 2012
    Hi Car_man,

    Can you provide the 24 month with 15k mi/yr lease numbers (mf & resid) on 2012 & 2013 4x4 Platinum Armada. Can you also list manufacturer and dealer incentives.

    Thanks
  • Here you go dolphin5. Nissan Motor Acceptance Corp.'s December buy rate lease money factor and residual value for a 36-month lease of a 2013 Armada Platinum 4WD with 15,000 miles per year are .00071 and 48% for consumers who qualify for its top credit tier.

    I provided you with this truck's 36-month numbers instead of its 24-month numbers because the 3 year program is much, much better than the 2-year.

    The numbers for an otherwise identical lease of a 2012 model are .00036 and 47%.

    Through January 2nd, Nissan is providing $2,000 bonus cash on the 2013 and 2012 Armada.

    Car_man
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  • Hi...

    Was curious on the latest lease numbers on a 2013 Armada 2WD Platinum. What are people seeing for sale price, money factor and residual percentage. Looking at a 36 or 39 month lease.

    Also, I have am in a current Nissan Lease, a 2010 pathfinder, lease is up in October. I am way under on the miles, just rolled 22k, should have 39k by October. When I got the pathfinder, I was in a Altima lease, again way under on miles, about 8 months early, dealer bought out my lease since it was such a great used car. Can I expect the same? Or is this really just dealer specific?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bjamin82. Nissan Motor Acceptance Corp.'s March buy rate lease money factor and residual value for a 36-month lease of a 2013 Armada Platinum 2WD with 15,000 miles per year are .00012 and 46% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39-month lease are .00012 and 45%.

    Whether you are able to get anything out of your current leased vehicle will depend upon the dealer.

    Car_man
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  • sabrothesabrothe Posts: 7
    edited March 2013
    Car_Man--

    These figures are for 15K miles per year. How much should I add to the residual for 12K miles (2%?). Additionally, I am a returning Nissan customer and have been offered $4,000 in additional lease cash. Can I combine this with the current money factor? Finally, does the residual % change if it is 2WD vs. 4WD?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sabrothe. While most banks bump residual values by 2% for a switch from 15,000 to 12,000 miles per year, I believe that NMAC's residual value increase is only 1%.

    The $4,000 loyalty cash is an awesome deal isn't it. That makes a big difference. It can indeed be combined with the special money factor.

    The residual value for a Platinum 4WD is 1% higher than the residual value for a Platinum 2WD.

    Car_man
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  • Hi Car Man,
    I was wondering if you knew the April purchase finance rates and promos from Nissan. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly do mkhalil33. Nissan Motor Acceptance Corp.'s April buy rate lease money factor and residual value for a 36-month lease of a 2013 Armada Platinum 4WD with 15,000 miles per year are .00012 and 47% for consumers who qualify for its top credit tier.

    Car_man
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  • Car man
    Do you know of the $4000 loyalty program is extended? I'm a current armada customer with 2 remaining payments. I'm thinking of buying the new one instead of lease, they are telling me the only promo is the $3000 or .9%. Does anyone have some sales prices for recently solds? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, mkhalil33, the $4,000 owner loyalty cash offer was extended. However...Nissan's incentives on the Armada are significantly worse in April than they were in March. The non-loyalty cash incentives on it dropped significantly month-over-month.

    Car_man
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  • snow26snow26 Posts: 24
    What are the MF and residual on a 2013 armada platinum 4wd? How much should I be payingnformthis truck? Thanks
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