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2013 and earlier Nissan Maxima Lease Questions
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I am trying to lease a demo vehicle--a 2007 Nissan Maxima SL. The odometer reads 5008 miles.
How are the residual values for demo cars determined for various lease terms? How would I determine the depreciated portion of this vehicle?
How exactly is this applied to the lease calculation?
Also, in leasing, what are some important factors in leasing a demo car vs. a new car to keep in mind? Do the same new lease incentives apply to demo car leases?
Lastly, what is the residual percentage on the 36 or 39-month lease?
THANK YOU in advance.
(Reminder: This is a demo vehicle).
MSRP: $27,945
Selling Price: $27,000
Money factor (temp. until credit check): .00185
Fees: $907.33
Lease Term: 39 months
Mileage: 12k
Down payment: $2,500
Now the residual is perplexing. As I was told, for a 39 month lease, it's 51%---however, for this same 39 months, they've calculated it as: $16,308.95.
Now, based on an MSRP of $27,945-----$16,308.95 would put the residual @ 60%????
Finally, we're @ a monthly payment of $416.83.
Overall, this seems like a s---ty deal to me.
Someone please help me out here.
Car_man
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on demo car they should be at least $500 under invoice. when you pay for the milage up front it is $.10/mile. Since you are already at 5000 miles times that by $.10 = $500...
That would be fair...
I didn't negotiate a price, I just received a monthly payment from multiple dealers. Including the $705 destination charge, my estimate for the MSRP using Edmunds for an SL AWD w/ the touring package is $36,405 and the invoice is $33,322. Thanks!
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I got the following lease from a local nj dealer last night and was wondering if it sounds like a good deal.
Total MSRP:$33,645.00
Super Black/ black leather
Model
3.5 SE
Packages and Options
Splash Guards
Bluetooth Hands-Free Phone System
3.5 SE Premium Audio Package
Power Glass Sunroof
Driver Preferred Package
3.5 SE Sensory Package
Accessories
Carpeted Floor & Trunk Mats
Lease 39 month
12000
$3000 down
$358 month
-Dave
If you do the lease math, based on your above MSRP, with a purchase price around $200 over invoice (invoice is around $30,670 for yours), your monthly payment for a 39mo. 12K lease, not including tax, comes to around $390/mo. with only
first month's payment and registration, title, etc. due at signing (around $500 total, out the door). NOTE: I did not even use your $3000 down payment in the above calculation!
Now if you put down $3000 as a cap cost reduction, that would lessen your payment to around $312/mo. not including tax...You'd still owe first payment, etc. at signing, assuming you used that $3K down payment purely as a cap cost reduction.
So, looking at all of this, you'd pay $1752 more than you should with the scenario above.
How? $390/mo. minus the $358/mo. you were quoted = $1248 extra over those 39 months. However, you showed $3000 down...meaning you are paying $1752 more than you need to, based on the above scenario of a $200 over-invoice purchase price!
Now I am not sure if your payment above included tax or not. My numbers here do not.
I leased an '07 Maxima today (my 2nd) for $200 over invoice and am paying $363/mo (tax not included) for 39 mo. with 12K mi. All that is due at signing is first month payment, title, registration, etc..around $500 at signing. The MSRP on mine is $29,995. I also negotiated, for my mom, another 2007 Maxima SE in October of 2006 for $200 over invoice, so anything more than that...walk! I hope I saved you some cash! I
MSRP - $33,645
Model 3.5 SE
Dark Slate exterior
Black Leather interior
Packages and Options
Splash Guards
Bluetooth Hands-Free Phone System
3.5 SE Premium Audio Package
Power Glass Sunroof
Driver Preferred Package
3.5 SE Sensory Package
Accessories
Carpeted Floor & Trunk Mats
39 Month Lease with only first month due at signing.
15,000 miles per year
$417 not including taxes
Appreciate any insight and thanks in advance...
You never mentioned the selling price of the Maxima that you are interested in leasing. This is an important number 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 the selling price is.
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You never mentioned the selling price of the Maxima that you are interested in leasing. This is an important number 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 its selling price is.
Car_man
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would appreciate your inputs as i need to move on this ASAP.
Unfortunately my girlfriend couldn't wait and went for the lease. But I still appreciate the advise, and we'll know better next time. My car lease is up next summer.
-Dave
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Can you tell me what the Lease Money Factor Rate for a 2008 3.5 Maxima SE is for 36 or 39 months? (which ever is better) Also, what is the depreciation factor/pecentage for the same vehicle for the same time period?
Thanks,
Bob
I built the car on Nissan's website and see that the MSRP would be $33,695, I am shopping around and would prefer to stay with Nissan if the right offer comes in. I have received several quotes and am still awaiting others - I received differing info. on incentives - anywhere from $2k to $2.5K
1st response is $33,795 with all the above options and leasing conditions with a payment of $504 per mo. He stated the money factor is .0062 and the residual as $18,249 at the end of the lease instead of a percentage.
Am I correct in my feeling that there is still room to bargain? I figure between $440 - 450 per mo. is about right.
Thanks!
Jim
I want a 27 or 36 month lease with 12K miles yearly.I want my initial payment to include 1st month(with tax) reg.&bank and only required fees no cap.reduction on my part .What would be a fair monthly payment at this time?
I'm in Massachusetts and want my monthly to include the monthly tax
I was offered below lease deal on a 07 Nissan Maxima V6 SE. The sticker price for this car is $28,995. I believe this car has all the goody options excluding the leather seats and Navigation. I think it is a good deal but I think it can be lower with no down payment. Could you please let me know?
15k miles/yr
$14,500 residual cost
Money factor at .091
$450 down (drive off)
39 months, $365(including tax) per month.
Thank you for your help. Much appreciated!
Maxima SE, with sunroof and "Sensory package" (I really wanted leather) - car listed for $32,600.
My deal was:
12k miles/yr
39 months
$315./month, all-inclusive
$3515 down, which includes all the jazz: fees, DMV registration, 1st month payment, taxes, etc. Was ok with this, as I wanted a low monthly nut ~
Might not be the cheapest deal here, but I thought it was pretty fair
Good luck on your hunt, and thanks to everyone for all your help!
Best,
Aurelio
I am looking for the lease numbers right now for a 2008 maxima. She wants the same car and wants it FAST.
She is a tier 0, nmac credit preapproval. (This is her third car with them).
So I REALLY like this service and appreciate it.
Thanks for a speedy reply.
Car_man
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The market for new vehicles is pretty slow right now. If you are in an area that has a decent level of competition, you should not have any problem finding a dealer that will lease you a Maxima for a couple hundred dollars over dealer invoice and then subtract the $550 dealer cash incentive that is available on leases of this car. You can look up the invoice price of the exact model that you are interested in by visiting the New Vehicle Pricing section of Edmunds.com.
Once you arrive at a selling price that you are comfortable with, you need to make sure that the dealer uses this car's buy rate lease money factor to calculate your monthly payment. Nissan Motor Acceptance Corp.'s buy rate varies by term. Its current 36 month buy rate is .00016 for the '08 Maxima SE.
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You mention that the current 36 mo buy rate is .00016 is this for both 12k and 15K and what is the resid factor. Is the 24 mo lease a good deal right now?
Car_man
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Was quoted $450 for an SE with leather, bose and power moonroof. Is this a good deal? And how do I know what a good buyout price is and price per mile if I go over 20,000?
Thanks for any help.
Based on the Current 39-month/12,000 mile lease special, I am showing NMAC is offering a money factor of .0016 and a residual value of 50%.
My question is, what would an appropriate money factor and residual value % be on a 24-month/12,000 mile lease?
My guess is same money factor, but a residual near 70%?
Thanks!
Loaded 08' Nissan Maxima SE MSRP 36,300 except the chrome wheel packgage.
12k /39 months....... $365 a month( plus $35 a month 9% PA tax)= $400.00
$500 out of pocket.
I think because the 09' redesign is coming out there really trying to push the Maximas off the lots.
I've done pretty well with car deals but this one is hands down my best yet.
I was getting quotes for Civic Si's for $340 plus tax.