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2013 and earlier Nissan Maxima Lease Questions

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Comments

  • tstraubtstraub Member Posts: 25
    Car_man,
    Sorry, forgot to say I assumed zero down on the above calcs, but can you tell me what my total drive off would be?
  • chachi1chachi1 Member Posts: 2
    Car Man,

    Just did a deal on 06 Maxima SE. Extra equip rear spol, mats,flaps. Leased 36 months $0 down and $400 per month including tax, first payment maid by dealer. Traded a 03 Jetta that was about a $800 in positive equity. Need some reasurrance that i didn't get raped. Thanks.

    Chachi
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tstraub. The money factor that you were quoted for the Maxima that you are considering is right. It's pretty amazing, huh? I believe that Nissan enhanced it to its current level in mid-May. Unfortunately, the selling price that you are using to calculate this car's monthly payment is too low. Like with most of its models, Nissan's money factor on the Maxima is so low that it does not allow it to be used in conjunction with the customer cash that it is offering. So you cannot use the $1,500 to negotiate a lower capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi again tstraub. Let's estimate what your lease payment for this car should be like. According to my calculations, if you were to lease a 2006 Nissan Maxima SE with an MSRP of $36,095 and a selling price of $35,123 (invoice plus the $2,455 that you are upside down, but not including the $1,500 non-compatible customer cash), I estimate that your 36 month, 15,000 mile per year, zero down, pre-tax monthly payment should be around $457. With this lease, at signing you would have to pay your car's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, a $550 acquisition fee, and any required state taxes or fees.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Chachi. You never mentioned the selling price or MSRP of the car 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 car's selling price 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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  • chachi1chachi1 Member Posts: 2
    Msrp of car =27900
    w/ options and destination charge = 29065

    Sale price = 28111.01
    Acq fee = 550
    DOC = 399.50
    Total Gross Cap Cost 29060.51
    Buy out at end is 15404.44

    I put zero cash down, trade was a wash. 36 months @ 12k miles per year. first payment made in deal so 35 payments at 400 including tax. What do you think is a great deal in this scenario?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, chachi1. OK, so you're interested in a 2006 Nissan Maxima SE with an MSRP of $29,065 and a selling price of $28,111. A base '06 Maxima SE has a spread of just over $2,300 between its full MSRP and dealer invoice prices. You are only being given a discount of $954 on the car that you are considering. Furthermore, the dealer that you are working with is adding $400 in additional profit to your deal in the form of the doc fee. This means that you're really getting around a $500 discount on this car. If you are in an area that has a decent level of competition you should be able to do better than this. Make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Nissan Maxima: Prices Paid & Buying Experience".

    Car_man
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  • dpwillis2401dpwillis2401 Member Posts: 4
    Here's what I just got in Hartford, CT: Have 3 days to back out if not good deal. Have some reservations about trade price and not knowing cost of car...think I messed up!! HELP!

    '06 Maxima SE Black
    Splash Guards
    Floor mats
    Rear Spoiler
    MSRP = (will call in AM, dealer never came back with price!)
    Cap Cost = 0
    Lease Terms = 36 months/15K miles per year
    Residual = 54%
    Money Factor = .0004
    Monthly payment (includes 5% tax) = $284.56

    - 284.56 : First month payment
    - $1216.00: Fees,taxes,Plates,Registration for a total of $1500.00 (No security deposit because we are previous Nissan customer) Will get breakdown of fees in the AM.
    ----------------------------------------------------

    $284.56 for 35 months with $1500 out of pocket.
    $11440.00 total cost of lease for 36 months at buy out at end of lease is $15036= $25476. cost of car including all fees and 45k miles.

    Trade: 2000 Dodge Intrepid 89k miles, really rough shape tons of dog hair,smells, A/C leak, rips in seats, cassette, burns oil smokes needs $1200 valve job. (we didn't tell dealer)
    The dealer offered $2500. for trade $1500. toward fees, (no cap cost) plus cut us a check for $1000.

    Thanks for any advice.
  • dpwillis2401dpwillis2401 Member Posts: 4
    Hi CarMan

    '06 Maxima SE Black
    Splash Guards
    Floor mats
    Rear Spoiler
    MSRP = 29085
    Cap Cost = 338 or $10 more/month on payment. (dealer did this to keep 1500 of 2500 trade round numbers, cutting us a check for the remaining 1000. He will give us 338 if we prefer.
    Doc Fee of 299, 285 first payment,taxes, title, 550 aquistion, plates all in $1162. + 338 cap=1500.
    Lease Terms = 36 months/15K miles per year
    Residual = 54%
    Money Factor = .0004
    Monthly payment (includes 5% tax) = $284.56
    Buy out: 15039.

    Let me know if you need more info to determine if good deal. Thanks Again Diana
  • dpwillis2401dpwillis2401 Member Posts: 4
    Oh, yeah negotiated sale price was 25100. MSRP: 29085
  • lm_cincylm_cincy Member Posts: 11
    Went to 2 dealerships over the weekend ... loved the 2007 Maxima SL ... I drove the 2006 SL and there was such a difference - loved the new features of the '07 enough to pass on the great deals on 2006.

    The MSRP on the 2007 SL is $33465... they said unfortunately, the deals on leases were not so good... and boy did I agree, once I saw the figures.

    $547 / month for 36 months / 12K miles a year and $2,000 down

    Can you help me understand why, when it is almost the same sticker price for the 2006, is there such a discrepency - they said we could have the '06 for $357 / month - 0 money down. 36 month/$12k miles

    No way will I pay almost $550 a month for a Maxima ... but love the car. Any idea how long to wait before they will get better lease rates??

    Thank you!
  • maximafanmaximafan Member Posts: 592
    You're lucky to even have a 2007 Max on the
    lot. Here in Tampa, the two local
    dealerships don't seem to have any yet.
    By the way, what state do you live?
  • maximafanmaximafan Member Posts: 592
    I think I deduced from your screen name that
    you're from Ohio?
  • sgtslatesgtslate Member Posts: 16
    Money factors can make a huge difference. I was told an easy $80 per month increase comparing a nothing money factor like what is being offered on a 06 vs an 07 at a high money rate of like 6.5%. Plus I am guessing since it is a brand new model, they are not taking much off MSRP. if you want to be the first on the block, you have to pay the price
  • lm_cincylm_cincy Member Posts: 11
    YES ... from Cincinnati, Ohio.
  • toolpictoolpic Member Posts: 12
    just leased a 2006 3.5 maxima SE with the following

    Navigation
    Driver Pref pkg
    Sunroof
    Sirius radio
    floor and trunk mats

    here are the numbers, how did i do

    15,000 miles a year for 36 months

    380 month including tax of 9% w/ 2000 down

    2000 down as follows

    380 first month pmt
    165 tags
    1335 cap reduction
    120 tax on cap cost, 9%

    sticker was $35,545 with selling price of $31,730
    i was told residual was 52% and money factor of .00004

    how did i do, could i do better have 24hrs to decide
  • maximafanmaximafan Member Posts: 592
    toolpic, that sounds like a great deal to
    me! You just got a top-of-the-line Maxima
    SE! Enjoy your new car!
  • drthspdrdrthspdr Member Posts: 1
    I visited a Nissan dealer in Illinois yesterday and found a 2006 Maxima SE, MSRP of $34,895, that I am interested in leasing. I would like to lease for three years, with 15,000 miles per year. I was wondering if you could provide me with the current lease money factor and residual value percentage used by NMAC for this type of lease. Also, I was wondering if there are any current allowances or rebates applicable to leases. And last, I was wondering what you feel would be a good price for this vehicle. Thank you in advance for your assistance.
  • nissan99nissan99 Member Posts: 3
    hey everyone,

    If anyone needs any advise before buying, or leasing a nissan. Please feel free to ask me, I'm an Internet Sales Guide in south florida, and will give you the real answers, to any of your questions.

    thanks
  • nissan99nissan99 Member Posts: 3
    Ok I worked your lease on my computer, at the dealership, and without tax:

    Car at 31500...selling price.

    1500 down (signing inceptions)

    36 mos lease $414.69 a mos without tax.

    with 15k miles

    good luck
  • hartthartt Member Posts: 79
    Using June's MF (.00004) and residual (52%) provided on this forum, I come up with a monthly payment of $372.95 before tax and $395.32 after tax (6%). That is based on an MSRP of $34895 and a selling price of $31500.
    nissan99 -- Can you break down what the $1500 signing inceptions are?
  • nissan99nissan99 Member Posts: 3
    ok...i don't know what you are using to figure those numbers out...but i'm using a leasing progrom from Nissan leasing...

    Inceptions..include sec deposit....first monthly payment, doc fee, and tag.

    Maybe my leasing program has a different calculation that I'm not aware of cause of the state. However, there is interest involved too, and that is probably what you are missing.

    nissan99
  • dpwillis2401dpwillis2401 Member Posts: 4
    This was recent deal in Hartford, CT

    '06 Maxima SE Black
    Splash Guards
    Floor mats
    Rear Spoiler
    MSRP = 29065
    Neg Sale Price: 25100
    Cap Cost = $338
    Lease Terms = 36 months/15K miles per year
    Residual = 54%
    Buyout: 15036
    Money Factor = .0004
    Monthly payment (includes 5% tax) = $284.56


    - $1216.00: includes first payment, Fees,taxes,Plates,Registration, Doc Fee $299 includes in above number.(No security deposit because we are previous Nissan customer)
    ----------------------------------------------------

    Trade: 2000 Dodge Intrepid 89k miles, really rough shape tons of dog hair,smells, A/C leak, rips in seats, cassette, burns oil smokes needs $1200 valve job. (we didn't tell dealer)
    The dealer offered $2500. for trade $1500. toward fees, (338 cap cost) plus cut us a check for $1000.

    Thanks for any advice.
  • lm_cincylm_cincy Member Posts: 11
    Any idea when they will get a good leasing program for the 2007 Maxima? Someone told me in August or September ... do you think that is true?
  • katiebrakekatiebrake Member Posts: 1
    Looking lease a Maxima 2006 SL.
    Added features: Splash guards, mats
    Driver preferred pkg.
    Black color, black interior
    Live in TX and considering a 24 mo lease at 15,000 miles. What ballpark should we be in? LMK if you need additional info. Thanks
  • sandiegoshaunsandiegoshaun Member Posts: 6
    I am helping out a friend in Ohio who really needs our help :) :confuse: He is looking for a

    2006 Nissan Maxima SL
    Floor Mats
    Splash Guards - 4-piece, body-color
    Power Glass Sunroof

    He filled out a Credit Application today and the dealer said they would honor the Money Factor that was valid through today for a few more days.

    They said they will sell the car at $100 over Invoice no $1500 Rebate since it's a lease.
    So...

    0 Down just normal drives which should be 600 or so I am guessing?

    $31,945 MSRP
    $29,273 Sell Price
    Money Factor 000410
    36 Months 12y/r
    $387 a month if he puts down a security deposit.
    not sure the residual, does anyone know?

    Can someone help advise me if this is a good deal or what I can do to help him.

    What are the new deals out on 7/6?

    Thank you in advance for any help!
  • maximafanmaximafan Member Posts: 592
    Sandiegoshaun, that sounds like a great deal
    to me. Good luck to your friend, and you're
    a great friend to help out!
  • lm_cincylm_cincy Member Posts: 11
    Does anyone know what the money factor is on the new 2007 SL?

    Also, looking to find out the residual on a 36-month / 12K miles /year lease.

    THANKS!
  • hartthartt Member Posts: 79
    It looks like this is the month. I will be returning my Pilot the first week in August and would like to have another vehicle before then. There are several vehicles I am interested in so I will be posting questions on the boards of the vehicles I am looking at.
    I would like to know the MF and residual on a lease for an '06 and '07 Maxima SE for 3 years with 15,000 miles a year. Could you also provide the 39 month program as well?
    Thanks for your help Car_man.

    Tim
  • rwalkeredmundrwalkeredmund Member Posts: 6
    My wife is preapproved through NMAC for a tier 0 lease.
    What is the MF and Residual for a 2007 Maxima Elite with 15k miles per year?

    ALso, any recent selling prices for this car. My dealership plays game with in the F & I room and I cannot stand it.

    PLEASE HELP. I need a car fast! and this seems to be about the only one my wife likes that I can afford!

    Frustrated in GUlfport, MS

    R
  • bowski77bowski77 Member Posts: 1
    I just got qouted

    Maxima SE
    MSRP $28890
    Selling Price $26417
    15K/36
    52% Residual
    $15172 Residual Value
    .00019 Money Factor
    $371mo payments (tax included)
    sign and drive( no money out of pocket)

    now my credit is a little shady but I have a cosigner with golden credit. Is that why my money factor is this instead of the.00004 that i have seen?

    Is this a good deal? Does Nissan have any lease cash that they are not disclosing? Let me know! They told me this was $300 under invoice.
  • val06val06 Member Posts: 1
    Never leased before and was offered 15,500 on trade in and owe 10,700. 2006 Maxima was MSRP app. 32,800. 12,000 miles per year with a residual of 17,053, for 338 for 36 months. Is this what I should be paying. Don't know to much about leasing. Help, please!!!
  • erik7erik7 Member Posts: 4
    val06,

    Things people would need to know before we can offer you any help.

    1. The residual percentage being used; this isn't negotiable and if you are using nissan financing, from my research, it should be 53% for a 36 month lease.

    2. The money factor. Now this can be played with. The great news is that Nissan is offering a great money factor on 06s, .00004. Money factors are not interest rates, but to convert a mf to an interest rate, multiply the mf by 2400. In this case, this is a .7% rate. Practically no interest!!!

    3. Are you putting you positive trade in money as a down payment? I don't recommend putting money down on leases. If you are putting down $5000, that's probably not a great price.

    Also, be aware that there is a $1500 factory to consumer rebate on 06 Maxima's according to Edmunds. I don't know if it's included in leases, but I think it should be.

    I'm about to buy an 06 or 07 Max. For the 06, if I can find the car I want, my MSRP is $35,805 and the invoice is $32,447. But remembering there is a rebate, the invoice is actually $30,947. If I can get a dealer to agree to that price, I calculated my payment to be $357/month. I would be paying at signing, the bank fee (or acquisition fee), any dealer fees, and of course the first payment. So basically, I'm not putting a down payment on the vehicle, just paying fees at signing.

    Compared to your deal, I'm only paying $19 more a month for a more expensive car and not putting down roughly $5000. So I'd say you're not getting a great deal.

    Go here to learn more about leasing.
  • erik7erik7 Member Posts: 4
    Forgot to mention, my payment includes 7% NJ sales tax. Without tax, the payment is $334. I don't know if your payment of $338 included your state tax or not.
  • tristan1tristan1 Member Posts: 39
    Just wondering how did you come up $357 a month for a $31k without any down payment? I just bought my 06'SE driver preferred pkg. premium audio and Nav. MSRP $35,345. I paid $30,050. I put $10k as down payment with 4% APR and my monthly payment is $398.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dpwillis2401. A base '06 Maxima SE has a spread of just under $2,400 between its full MSRP and dealer invoice prices. You are being given a discount of nearly $4,000 on this car. Obviously, this is an outstanding price. The lease program that you mentioned was for June. NMAC's new 36 month, 12,000 mile peer year lease program for this car is .00004 and 51%. If you can get this price combined with the current lease program, you are getting a heck of a deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings katiebrake. I would be happy to give you an idea of what this car's lease program should be like. It would be a big help if you would provide me with an MSRP and approximate selling price for this car first. Let me know and I'll run some calculations for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey lm_cincy. If you were to lease a 2007 Nissan Maxima SL through Nissan Motor Acceptance Corp. right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00238 and 53%, respectively. As you can see, Nissan has already had to introduce a little lease support on this car. It is difficult to say when it will increase its level of support for the '07 Maxima. A lot will depend upon how well it sells with its current lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Tim. If you were to lease a 2006 Nissan Maxima SE through Nissan Motor acceptance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00004 and 52%, respectively. This car's 39 month, 15k numbers should be .00147 and 51%. The numbers for a 36 month, 15k lease of a 2007 Maxima SE should be .00238 and 52%. This car's 39 month program should be .00285 and 51%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Help is on the way, rwalkeredmund. Nissan's lease program for this car varies depending upon how long one leases for. Right now, the 36 month term is the most attractive for this model. If you were to lease any 2007 Nissan Maxima through Nissan Motor Acceptance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00238 and 52%, respectively. You may be able to find information on what sort of selling price you should expect on this car by visiting the following discussion: "Nissan Maxima: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bowski77. Nissan is not currently providing any sort of dealer cash or lease cash on the 2006 Maxima. So if you are really able to get this car for $300 under dealer invoice, you are getting a heck of a good deal. The reason why you were quoted a higher money factor is you are doing a sign and drive lease. Nissan will waive its security deposit requirement on leases, but only in exchange for an increase of .00015 in your vehicle's money factor. When this increase is backed out of the money factor that you were quoted, we get the .00004 factor that you are looking for.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome val06. 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.

    There's nothing wrong with trading a vehicle in when leasing a new one, however you would be much better off having the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a down payment on you new lease. I say this because consumers who make down payments on leases risk losing their money if their vehicles are totaled in an accident or stolen and never recovered. In order to tell whether the deal that you were quoted is attractive, I really need to take a look at this car's MSRP and selling price. Find out these numbers and I'll analyze this deal. Talk to you soon.

    Car_man
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  • cmsw03cmsw03 Member Posts: 3
    I currently have a 1994 Maxima and want to upgrade to a 2006 SE. I found one I would like, but am thinking about a lease (I've never leased a vehicle). Any help you could offer would be greatly appreciated. The info below is the dealer's offer for me to buy...

    2006 Maxima SE
    w/ Drivers Preferred Package
    Sticker: $33,345.00
    Dealer's best price & $1500 rebate: 30,282.00
    Price incl Ohio Tax & Title: $32,484.83
  • erik7erik7 Member Posts: 4
    Tristan, my payment is a lease price. Not a finance payment like yours, that's where the difference comes in.

    And as CAR_MAN stated, the rebate is for "cash" buyers only, so my lease payment shot up to $396 with very little profit given to the dealer, wish me luck on getting this done! :)
  • tristan1tristan1 Member Posts: 39
    Good luck on that one. 07' looks pretty nice.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Geetings cmsw03. 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.

    The selling price that you were quoted for this car includes $1,500 customer cash, which unfortunately is not compatible with Nissan's special lease program for this model. When we back the $1,500 out of the price that you were quoted we come up with $31,782. The car that you described has a spread of around $2,900 between its full MSRP and dealer invoice price. You are being given a discount of $1,563 on it. If you are in an area that has a decent level of competition, I would not be surprised if you were able to beat this price. Stop by the following discussion for additional feedback on how much you should pay for this car: "Nissan Maxima: Prices Paid & Buying Experience".

    Car_man
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  • cmsw03cmsw03 Member Posts: 3
    Thanks very much for the info. I did find the 10 steps article full of good pointers. I will be talking with the dealer again today and will check your site again for more suggestions. Thanks again!
  • 2460124601 Member Posts: 8
    36 months 15k/year buy rate is currently .00238 and 57% on the SE and SL.
  • cmsw03cmsw03 Member Posts: 3
    Hello again... I've received quotes from the dealer for a lease on the same vehicle I inquired about purchasing. I'd appreciate your thoughts/recommendations, please. He told me this is based on $500 over invoice, nothing on reserve. Thanks again for your assistance.

    Sticker: $33,345
    36 month lease
    15,000 miles/year
    $950 fees due at signing
    $419 per month
  • jgautreauxjgautreaux Member Posts: 3
    Would love to lease the 07 SL. Sticker price is 33.4, they are getting close to $31.0 with negotiations. How low of a lease payment do you think I can get. I prefer not putting any money down except deposit. Thanks much. Is the residual 52%.
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