2013 and earlier Nissan Maxima Lease Questions

antwan125 · May 2011

Car man, i'm being quoted a 11 Maxima SV with premium & technology pkg with a money factor of .0088 and a 58% residual...i'm looking to put nothing down and get it for $359 a month plus fees...I would prefer to pay out of pocket fess and taxes to keep my payment under $360...they're stuck on $380-$390...is this worth getting or should my money factor be higher and residual lower?

antwan125 · May 2011

Car_man, the dealer wants me to pay them a $400 delivery fee. The vehicle I'm looking to purchase was found roughly 260 miles away and they are claiming I should pay the cost to get the vehicle to me.

CarMan@Edmunds · May 2011

Greetings fat_professor. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2011 Maxima SV Premium with 15,000 miles per year are .00098 and 58%, respectively for consumers who qualify for its top credit tier.

the $1,500 cash incentive that is available on purchases of the '11 Maxima in your area is not compatible with its special lease program.

You definitely should wait until at least the end of this month to get a new Maxima if you're interested in one. I have heard that Nissan is going to roll out some enhancements to its programs during the last week of May.

It's difficult to say what the deals will be like in September and October. It will depend upon a number of factors including how quickly production at the Japanese manufacturers gets back up to speed after the quake, what the economy is like, etc...

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · May 2011

Hi antwan125. The lease program that you were quoted looks about right. Th only way to get a lower monthly payment would be to negotiate a lower selling price. If You really should wait until the end of May to lease if you want a new Maxima. I've heard that Nissan is going to roll out an enhancement to a number of its programs, potentially including the Maxima lease program in a week or two.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · May 2011

Well, antwan125, the dealer can charge you whatever they want I suppose. If you don't want to pay the delivery fee, you can always search the inventory of other local Nissan dealers to see if you can find a car that's close to the one that you want that won't have to be swapped for.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

ahashmi · May 2011

Hi Car_Man,

Are there any changes in the lease deals for the Maxima during the end of May as you had stated earlier? I know there is an extra $500 bonus cash for lease on top of the $1000, I was wondering if there were any MF or RV changes?

Also, below are my calculations, let me know if they look right:
MSRP: $37855
Sale Price: $31452 ($1000 included)
Mi/yr: 12,000
RV: 59%
Term: 39
MF: .00098
Tax: 7%
Out-of-Pocket: $1200 (fees)- $500(Bonus)=$700

Monthly: $306.55

Is this right? and is it the lowest I can go?

ahashmi · May 2011

Also, I'm being quoted by dealers saying RV for a Maxima 3.5SV Sport with Monitor is 1% lower than Premium Package, a 57% RV.

Is there any way of verifying this?

Please help someone, Car_man!

mattex59 · May 2011

ahashmi, your numbers looks good but right now it seems like the supply is low and demand is high. On a SV with a Sport package the lowest I could muster is $409 on a 15/K lease. I walked I think I can do better. Though it was hard, both me and my wife really liked the car.

I presented my math to the dealer and came up with a lower number but he wasn't budging. We're thinking of taking a break and shopping at a different time of the year, this seems to be not the time to score a great deal.

p.s. I was told there are NO REBATES for leasing. The $2000 worth of rebates is for purchase, or so I'm told. What are the rebates you are talking about?

CarMan@Edmunds · May 2011

Hi ahashmi. I see that you are already aware of the additional $500 bonus cash for Memorial Day. I don't believe that the Maxima's money factors and residual values have changed since the beginning of the month. The numbers that you mentioned look right. The selling price looks good, too.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · May 2011

What you were quoted is correct, ahashmi. The residual values for the Sport model are indeed 1% lower than they are for the Premium model Maxima.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · May 2011

Hey mattex59. There's $500 Memorial Day bonus cash on the Maxima everywhere in the country. Some areas have another $1,000 on leases, the Eastern and Midwestern U.S. It sounds as though you are in a part of the country that the cash incentive on leases is not available in.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

mattex59 · May 2011

Car_Man, I'm in Atlanta, GA. Internet sales manager said that the price they posted on the website {the price that got me to drive to the dealership in the 1st place..} was including a $2000 incentive from Nissan but only for cars being sold, not leased. So the price immediately went up $2K before we even sat down to deal any numbers.

Thanks,
Matt W.

ahashmi · May 2011

Thanks Car_Man for the help.

So I finalized a deal, and picked up the car yesterday. Here's the details

2011 Maxima SV Sport with Monitor, Mats, and Splash guard in Metallic Slate
MSRP: $38030
Price: $30644
Monthly: $300.88 (asked them to level it at $300, mad stingy and didnt)
Term: 39 months
Down: $2300 (including all fees, TTL, and first month)
Miles: 12k/yr
Credit: Excellent
POM: 36%

And I negotiated 2 yr, 30k mi free maintenance

I know people said POM should be <40%, and I was speaking to all other dealers asking if they could beat it over the wknd, the closest people got was $333/mo and $2000 down.

I think I could have done slightly better if the market wasn't bad, but I'm not complaining. It really pushed my budget as I didn't want to pay this much, but they gave me the car for an extended test drive and my family loved it when I brought it home, so I just went for it.

What do you think??

ahashmi · May 2011

Btw mattex59, there is $500 lease incentive on the Maxima for your region, it actually says it on their website too.

If you want you can buy the car in Jersey and take a road trip to GA lol.

biggbrother · May 2011

I have no idea how you are getting these numbers. I used the Edmunds Lease Calculator at http://www.edmunds.com/calculators/car-lease.html and based on your numbers it's giving me a a monthly payment of $786 inc. tax. This is assuming a 57% residual value as you stated exists for the SV Sport model, for 39 months, and 12,000 miles per year, and money factor of 0.0098, and all fees paid upfront, plus your $1000 down.

Is the Edmunds Lease Calculator acting shady today?

Plus, although I appreciate the data, is it possible for CarMan to just post some numbers for some of the most popular terms and trims? It is getting rather confusing here with people posting numbers for 39 months and 36 months and Sport Models and Premium Models, and then finding out that the Sport model has a lower residual value than the Premium model, etc etc. people seem to be mixing and matching the terms and trims and coming up with different numbers.

Specifically, what are the terms for a 2011 Maxima SV with just the Sport package for 39 months and 15,000 miles per year? How about 12,000 miles per year? How do these two figures change if the lease term is dropped to 36 months? Is it worth it to just sign for the extra 3 months?

ahashmi · May 2011

The problem with the lease calculator is that it does not allow you to put both the MSRP and Selling price of the vehicle. Since one of the factors in determining the monthly is taking [(Selling Price)-(MSRP*RV)], there is no way you can do that in the calculation. Best calculator is the lease guide calculator (http://www.leaseguide.com/calc.htm).

Its better to sign up for the extra 3 months even tho the RV drops 1 percent, but you're spreading the huge initial drop over the extra 3 months.

What you're looking for is:

2011 Maxima Sport
Mi/yr: 12,000
Term: 39 months
MF: .00098
RV: 57%

2011 Maxima Sport
Mi/yr: 15,000
Term: 39 months
MF: .00098
RV: 56%

And btw, I already got my car at those numbers. They're a little off from my calculation (+/- $1-4), but close enough. I actually have a spreadsheet that does the calculation that I don't mind sharing but I don't know how to attach it here

mattex59 · May 2011

I've done all my calculations by hand. I researched the formula, learned the numbers. One advantage is, I can sit down with the sales manager face to face and show him how I'm coming up with my number, instead of saying "a website I visited says so..."

I broke the Maxima Sport SV lease package down for a sales guy couple days ago and told him that I was pretty sure I was right on with my numbers but was prepared to be wrong. He went quiet pretty quick. Pretty much right there I knew that he knew that he wasn't talking to a sucker. We never agreed on a deal because he wouldn't show me how he was coming up with HIS numbers, saying they just punch it into the computer.

I wasn't about to hand them a $2300 premium over the course of a lease, especially when I came in there for a SPECIFIC deal they were advertising. Which is pretty disappointing considering they pretty much pulled the good'ol bait and switch on me. Get you to the dealership, switch up the pricing.

Anyways, was hoping for a phone call since today is the 31st but I guess it's not gonna happen. Business must be good. Onto another dealer we go...

gs42 · June 2011

May sales numbers were down 32% for the Maxima. About October/November may be the time to make a lease deal. I have a 2009 leased now and hope they will be dealing about then. Last year a lot of great deals were made near the end of the calendar year.

biggbrother · June 2011

Thanks ahashmi,

Could you e-mail that spreadsheet to messer202 AT gmail.com ?

Thanks for providing the numbers. At least now I have something solid to go on. I'm a little shocked at the residuals on the Maxima. They seem a bit low. I thought Maxima just won a JD Power award or something for best resale value.

ahashmi · June 2011

I will send it over soon, let me just clean up the format so it's not confusing.

Maxima has really good residuals IMO, the only problem is that when you start pricing a niche trim and package, it hurts the residual value because not many are looking for that. So Maxima with the highest residual I believe is about 61%.

striper72 · June 2011

Hi Car man, do you have he June lease numbers on the 2011 Maxima SV for a 15,000 mile/36 or 39 month lease? Also, is Nissan offering any incentives on leases in the NY area for June? Thank you.

antwan125 · June 2011

Would you mind sending me your spreadsheet...antwan125@yahoo.com

antonio27 · June 2011

Hello Ahashmi can you shoot me that spreadsheet as well? My email address is antonio.iribarren@yardi.com.

I got the bug to lease a Maxima and Edmunds is the first place I go...

thanks so much...

CarMan@Edmunds · June 2011

Hi striper72. Nissan Motor Acceptance Corp.'s June buy rate lease money factor and residual value for a 36 month lease of a base 2011 Maxima SV with 15,000 miles per year are .00092 and 58%, respectively for consumers who qualify for its top credit tier.

The numbers for an otherwise identical 39 month lease are .00092 and 57%.

As far as cash incentives go, in June Nissan is providing $1,000 on leases of all Maximas in your area plus an additional $500 on vehicles that don't have navigation.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

ahashmi · June 2011

Just the change in MF I lost $4/month....which is like $131 over the term. Ah well...darn

ahashmi · June 2011

I emailed people who requested it, I also upload it to this link in case others are also looking for it.

If you have any questions, let me know.

http://www.filefactory.com/file/ccbac57/n/2011_Car_Lease_Calc.xls

sanish · June 2011

For 2012, the iconic Maxima receives a refreshed exterior  with a new front grille design, new rear combination lights, and new 18-inch and 19-inch aluminum-alloy wheel designs. Inside, the roomy Maxima interiors enhancements include a new meter cluster illumination color (white), new Dark Piano-hairline trim, a new Atlantic Cheery wood tone trim and a new Beige interior color. Theres also a new audio segment display and new audio/HVAC knob design.

The other big news for the 2012 Maxima is the addition of a special Limited Edition Package, which features smoked appearance headlights, High Intensity Discharge (HID) Xenon headlights, a compass in the rearview mirror, 18-inch aluminum-alloy Dark Hyper Silver colored wheels, a rear spoiler, dark satin chrome front grille, fog lights, illuminated kick plates, outside mirrors with integrated turn signals and metallic trim on the center cluster, center console and door armrest grips.

In addition, two new exterior colors are offered for 2012: Java Metallic and Dark Slate.

ahashmi · June 2011

I really want that white LED cluster for the dash, that's one thing I don't like about the interior. I'm not sure about the new wheel designs yet or the lights.

I'm quite upset, they made the Limited edition exactly what the SV Sport offers, for half the price...whack.

fat_professor · June 2011

Are there any pictures available of the 2012 or indications of exactly when it should become available?

ahashmi · June 2011

They said late summer

fat_professor · June 2011

Greetings, all. This message may be of interest to any of you in Texas and, potentially, states which charge sales tax on the entire amount of a lease. I talked to Ancira Nissan in San Antonio this week and they said Nissan had provided them with an incentive equal to the amount of sales tax on each Maxima leased. He did not know how long this special would last, and I do not know how widespread the availability is. However, it could well wind up saving a couple of thousand bucks over paying the full amount of sales tax up front. It is worth asking about, anyway.

runnernic · June 2011

I just leased a 2011 Black Maxima 3.5SV with the monitor and sports package. I LOVE it!! They took over my last 3 months of my mazda cx-7 ($400/month=$1200 left in payments)

I put nothing down (except the fees but they gave me a chck for $1200 so it offset my fees) and I leased 39 months $405/month. I'm pretty happy with this deal and I love the car so far

gtoimpulse · June 2011

Hello all,
I received a lease quote yesterday for:

2011 Maxima SV Crimson Black MSRP $35,585 39 months 12,000 miles no out of pocket expense. Strictly sign and drive for $394 per month including 6% state sales tax.

Does that sound like a good price or could I do better?

ahashmi · June 2011

You can do better. You should be less than $350 on that car

runnernic · June 2011

i think you can do better too bc i just leased the SV 2 days ago for 405/month with nothing down and i have the sports package and the monitor package plus they took over my 1200 left in payments from my mazda... dont forget about the 1500 rebate they have

good luck i LOVEEEEEEEEEE the car

tonyk · June 2011

Hey carman,

Do you think this is a great deal for a 39 month lease and 18k miles. Loaded SV Premium

Splash guards
Floor mats
Prem. Pkg
Spoiler
Premium tech pkg

$449/month
$613 total down.

Also willing to buy my existing 09 Murano SL AWD for $22600 which is what is owed.

Another dealer will match and throw in free oil changes for 39 months

striper72 · June 2011

I agree you should be under $350 a month for this car too. I leased a Maxima SV with monitor, cold package, mud flaps and spoiler for $335 a month with state taxes (8.625%) rolled in for 39 months, 15,000 miles. Only out of pocket expenses were first month and DMV fees. Acquisition was rolled into the payments as well. I also had them throw in a year of free maintenance. You should be aware when leasing this car Nissan has a $395 disposition fee.

I had quotes from local dealers ranging from $419 to $335. I found many of the local dealerships I visited a bit unscrupulous, hesitant to provide a lease work up sheet and not forthcoming with rebates and incentives. I originally just wanted a base model SV without additional packages to keep costs down, but it did not seem dealerships had inventory of base model SV's. I also found all the Nissan dealers I dealt with pushed too hard to get me into a car they had sitting in their lot without listening to the specific limited options I wanted. Overall, wasn't pleased with the Nissan salesmanship (from multiple dealers).

With that said, having done homework using sites such as this forum I think the high residual, low money factor and manufacturer rebates makes the Nissan Maxima a very good lease this month. Overall I am very pleased with the car.

biggbrother · June 2011

What would be considered a good deal on a Maxima SV with the Sport Package? Should I be shooting for $300 a month with only DMV fees?

striper72 · June 2011

I dont honestly know what would be a good deal on the Maxima SV w/ Sport Package as I did not get the Sport Package. I could tell you that the sticker on my car was $36,130. The sales price was about $31,000 - over $5k less than MSRP. The dealer still made some money on the deal and if I wanted to shop around further maybe there was even a better deal out there.

Negotiate the lowest possible sales price w/ rebates for the Sport Package and plug the numbers into a lease calculator using Nissan's June lease rates that Car Man provided in an earlier posting. I would think getting the Maxima SV w/ Sport Package paying only DMV fees upfront for around $300 is wishful thinking as the sales price of the car would have to be well below $30,000 for those numbers to work.

If you know that's the car you definitely want contact several dealers via email and request quotes. I find it easier to negotiate via email rather than play the game at the dealership.
Good Luck.

ahashmi · June 2011

You should look at the deal I got, I got the same car plus the monitor package.

srx2870 · June 2011

Hi Car man,

Whats the residual % for maxima sv with premium package for 36month 10k and 12k? whats the average price for bank acuqisition fee when doing lease? one dealer in NY area quote me 895 for the bank fee, is this normal? First time doing lease, how strict is nissan when you do the lease return? Thanks for all the help!

biggbrother · June 2011

I'm considering leasing a Maxima SV Sport. I prefer to negotiate near the end of the month, however, I can only do it this month or August, because of a planned trip.

When do these current incentives expire? Am I likely to see similar deals and incentives at the end of August? Also, how much of an incentive does Nissan give to current owners/lessees?

ahashmi · June 2011

For those of you looking for a car, the new facelift is released and will be available at the end of Aug.

http://nissannews.com/image-gallery.do?method=view&imageGalleryId=400&mid=1

rbatista3 · June 2011

Ahashmi,

I'm going to try an get the same deal you got on the same equipment down in Miami. Does your payment include taxes??

Thanks

showroom4 · June 2011

I received an email from my local dealer stating they need to hit their factory quota that they wouldnt refuse any reasonable offer in the next 24 hours. Dont know how much truth there is to that, but would it be realistic to try and get myself a payment of around $275/month on a base Maxima S, with zero out of pocket (including NY 8.75% sales tax) on a 3 yr 12,000 mile/yr lease? I should also have about $1,000 trade equity in my current vehicle to trade in.

I have found it difficult to get dealers to reveal any money factor/residual information. Id like to go in basically with the goal of getting my payment in the high $200 range with all taxes and fees rolled in. Is this possible on a base Maxima and be considered a reasonable offer?

Love this forum, thanks everyone!

srx2870 · June 2011

I got a offer for maxima sv premium + spoiler for 350 a month 36 month with 12k a year. only due at signing is first month + all the fees which add up to about 1.7k.. Never lease before but the fee seems too high for me. If you just want the base model, i guess high 200 is reasonable

btw, which NY dealer is that? will you mind give me the name so I can contact them myself too? Thanks!

showroom4 · June 2011

Dealership was Autoplace Nissan near Buffalo. Email stated something about need to sell 18 cars in next 24 hours to meet factory quota and no reasonable offer will be refused. Could be a ploy, or they could really just be willing to sell a car for the sake of getting a sale. Who knows, guess its worth a shot.

srx2870 · June 2011

buffalo is too far for me lol. I lived in NYC. Will you mind letting me know how much dealer charge for bank fee and all other fees combined when you got the offer? Dealers in NYC charge 1.7k for bank, title and license fees and first month (350), seems crazy to me.

striper72 · June 2011

You should ask the dealer to itemize the $1700 in fees. If you're leasing directly through Nissan Motor Acceptance Corp. (NMAC) your acquisition fee is $595. This is a firm amount. Your NYS DMV fees for title & registration can be found on the DMV website, but it should be between $275 - $400 depending if your just transferring plates or getting new ones. If the lease is through another bank like Hahn the acquisition fee could be more.

Even at $595 for acquisition + 400 for DMV + 350 for first payment your at $1345. Some dealers like to add a document fee into upfront costs too. Don't quote me on this, but I believe NY only permits a dealer to charge a $75 document fee. Either way the fee is added dealer profit that can sometimes be negotiated if you ask them to remove it.

srx2870 · June 2011

Thanks for the response! I will have the dealer itemize everything out and verify them. How is the lease return for Nissan? Never lease before but i read alot of horror stories online.

2013 and earlier Nissan Maxima Lease Questions

Comments

Helpful Tools

Most popular vehicles