2014 Nissan Rogue Lease Questions

alcap · February 2014

@isles1 said:

Thanks

alcap · February 2014

@kyfdx@Edmunds said:

Thanks

kiminwis · February 2014

Hey all, new to leasing, but have been doing a lot of research. What do you think of this lease offer?

This is an AWD Rogue S:

MSRP: $25,050.00

Pischke Discount: $918.00

Adjusted Sale Price: $24,132.00

Trade Allowance: (which is ballpark until we can see it in person) $17,000.00

Tax: $397.71

Tag, Title Fees: $89.00

Doc Fee: $99.00

Total: $7,717.71

Trade Payoff: $15,000.00

Balance Forward: $22,717.71

36 Months - 12,000 miles a year

$0 out of pocket: $245.71/mo

$1000 out of pocket: $216.78/mo

$2000 out of pocket: $187.85

Residual: $14,779.50

Michaell · February 2014

@kiminwis said:
Hey all, new to leasing, but have been doing a lot of research. What do you think of this lease offer?

This is an AWD Rogue S:

MSRP: $25,050.00

Pischke Discount: $918.00

Adjusted Sale Price: $24,132.00

Trade Allowance: (which is ballpark until we can see it in person) $17,000.00

Tax: $397.71

Tag, Title Fees: $89.00

Doc Fee: $99.00

Total: $7,717.71

Trade Payoff: $15,000.00

Balance Forward: $22,717.71

36 Months - 12,000 miles a year

$0 out of pocket: $245.71/mo

$1000 out of pocket: $216.78/mo

$2000 out of pocket: $187.85

Residual: $14,779.50

What would the payment be if you didn't apply the equity of your trade to the deal? It's generally not a good idea to put money down (or trade equity) to a lease - if the car is stolen or totaled, you are out that money.

kiminwis · February 2014

I forgot to add that Gap Insurance is included in the lease. If the car is stolen or totaled, this would cover what my insurance does not, correct? Or am I not reading that right? Again, I'm totally new to leasing, so I need all the help I can get.

Michaell · February 2014

@kiminwis said:
I forgot to add that Gap Insurance is included in the lease. If the car is stolen or totaled, this would cover what my insurance does not, correct? Or am I not reading that right? Again, I'm totally new to leasing, so I need all the help I can get.

Yes, the gap insurance covers the difference between the current value of the car and the total amount due. However, when you put money down, it reduces the amount due that is covered by gap, and that down payment money is not recovered.

mnfreeze · February 2014

Does anyone know the minimum credit score required to lease from NMAC? I have heard many auto companies require >700 scores. I just pulled two of my scores today (EX 697 EQ 690...not sure about TU). I have two closed auto loans on my credit report with perfect payment history. Any help would be appreciated. Thx!

kyfdx · February 2014

@mnfreeze said:
Does anyone know the minimum credit score required to lease from NMAC? I have heard many auto companies require >700 scores. I just pulled two of my scores today (EX 697 EQ 690...not sure about TU). I have two closed auto loans on my credit report with perfect payment history. Any help would be appreciated. Thx!

You need 700+ to get the best rates from Nissan.. 680-699 is considered Tier 4, but you should still be able to lease, albeit at a higher money factor. The lower tier also restricts how much negative equity you can roll into your lease, etc..

mnfreeze · February 2014

Tier 4...really? So 700 would be considered Tier 3? Wow Nissan must have some really high standards for lease approval. What kind of score does one need for Tier 1?

Oh well...I may just wait a few months and let my scores get over 700+, then talk to a dealer. Thx!

kyfdx · February 2014

Tiers 1-3 all have the same rates, so it doesn't really matter...

knkdub · March 2014

Can someone help me out with leasing a rogue in NC right now? I find all this leasing 'math' very confusing I really want to get a fully loaded 2014 - so an SL with a sticker of about $31k. How do I know how to best negotiate that so I get the best deal? Does anyone know the March residual for NC? Help is appreciated!!

knkdub · March 2014

Does anyone know the interest rate NMAC gives for Tier 1-3? (Credit score around 650)??Thanks!!

kyfdx · March 2014

March numbers just came out yesterday, so we don't have them yet.

I don't have your APR answer, but a 650 score puts you in Tier 6 for Nissan.. and, the rates are substantially more than the best rate (Tiers 1-3), which require a 700 score.

knkdub · March 2014

@kyfdx - thank you for that answer!

knkdub · March 2014

I'm sorry to ask a stupid question, but I'm a little new to this. I saw your previous post that said: .00034 MF and 56% residual. I'm wondering what "MF" means? Also is 56% residual "56% of the negotiated car price" ? Just when I think I know what I'm doing...I get caught up. Thanks!

kyfdx · March 2014

MF is money factor. Residual is always a percentage of the full MSRP (Bottom line of the official window sticker)

knkdub · March 2014

Great - got it, thanks!

knkdub · March 2014

Found a Rogue I really like. MSRP is 30,305. Will the dealer tell me the March MF & Residual #'s if I ask, or do I wait till they are posted here? advice? Also, how accurate is the online lease calculator? Thank you very much - again!

kyfdx · March 2014

They have to tell you the residual. They may disclose the money factor, but you won't know if it is the base rate, or not. (you can ask.. but, that's why our members check here).

In my experience, lease calculators on the main website for manufacturers are usually not accurate at all.

knkdub · March 2014

Ok thank you. I was using online-lease-calculator.com .. hoping that would get me fairly close!

knkdub · March 2014

sorry, i meant to say i'm using: www.car-lease-calculator !

knkdub · March 2014

Sorry, I'm still confused about one thing. If the residual % is based on the MSRP, where does negotiating my "price of the car" come into play? For instance, if my sticker is 30k, do I offer say $27k as my price...then move into lease payments from there? No wonder dealers like to lease, this is complicated!

Michaell · March 2014

@knkdub said:
Sorry, I'm still confused about one thing. If the residual % is based on the MSRP, where does negotiating my "price of the car" come into play? For instance, if my sticker is 30k, do I offer say $27k as my price...then move into lease payments from there? No wonder dealers like to lease, this is complicated!

There are two components to leasing - depreciation and rent charge. Depreciation is based on the residual value after x time for the MSRP. However, if you negotiate a lower price, then the depreciation part of the payment is lower.

Example - $30K MSRP with $15K residual (50%).

If the lease is written with the selling price equal to MSRP, over 36 months the depreciation portion of the payment is $416.66 each month (30K - 15K / 36)

However, if you negotiate the selling price of the car to $27K, the depreciation part of the payment drops to $333.33 (27K -15K / 36).

Bottom line is that if you can lower the selling price, you'll save money each month. Just don't let the dealer mark up the money factor (interest rate) to compensate!

knkdub · March 2014

Great - thank you! That helps very much!

alcap · March 2014

Can you provide mf and residual value for March on 2014 Rogue SV AWD? Also, any idea when some bonus incentives will be available. I have been shopping this car the last 2 months and it seems this is not the best time to lease.

Thanks,

Alex

mnfreeze · March 2014

Can you also provide the money factor/residual this month for the Rogue SL AWD?

Also (per dealership) I currently have a 705 auto enhanced score...will this qualify me for NMAC top tier rates? Dealer seemed to think it would, but he also seemed very eager to get me to the dealership (surprise!). I thought I'd better check an independent source.

Thx!

knkdub · March 2014

I too would love the residual % on the 2014 rogue sl, fwd. Dealer is telling me it's 58%...I'd like to verify.

kyfdx · March 2014

@mnfreeze said:
Can you also provide the money factor/residual this month for the Rogue SL AWD?

Also (per dealership) I currently have a 705 auto enhanced score...will this qualify me for NMAC top tier rates? Dealer seemed to think it would, but he also seemed very eager to get me to the dealership (surprise!). I thought I'd better check an independent source.

Thx!

.00015 MF and 57% residual

Anything at 700+ should qualify you for the best rate at Nissan.

knkdub · March 2014

My dealer wouldn't budge on the sticker price..imagine? They quoted me the sticker PLUS their dealer delivery fees. Perhaps not enough competition in my area..not sure. We are now looking at the lease GM is offering on the Cadillacs too - they are just better right now I guess.

detsoob · March 2014

2014 LEASE
Rogue SL

Valid from March 1st 2014 to March 31st 2014

FWD

•Term (24 mon)◦APR - 0.36%
◦Residual % - 62%
◦Money Factor - (0.00015)

•Term (36 mon)◦APR - 0.36%
◦Residual % - 57%
◦Money Factor - (0.00015)

•Term (39 mon)◦APR - 3.624%
◦Residual % - 51%
◦Money Factor - (0.00151)

•Term (42 mon)◦APR - 3.624%
◦Residual % - 49%
◦Money Factor - (0.00151)

•Term (48 mon)◦APR - 3.624%
◦Residual % - 44%
◦Money Factor - (0.00151)

•Term (60 mon)◦APR - 3.624%
◦Residual % - 39%
◦Money Factor - (0.00151)

AWD

•Term (24 mon)◦APR - 0.36%
◦Residual % - 64%
◦Money Factor - (0.00015)

•Term (36 mon)◦APR - 0.36%
◦Residual % - 57%
◦Money Factor - (0.00015)

•Term (39 mon)◦APR - 3.624%
◦Residual % - 51%
◦Money Factor - (0.00151)

•Term (42 mon)◦APR - 3.624%
◦Residual % - 49%
◦Money Factor - (0.00151)

•Term (48 mon)◦APR - 3.624%
◦Residual % - 45%
◦Money Factor - (0.00151)

•Term (60 mon)◦APR - 3.624%
◦Residual % - 40%
◦Money Factor - (0.00151)

This is an Open Offer available nationally.

knkdub · March 2014

TY for posting!

detsoob · March 2014

This is the online calculator I use.
http://www.leaseguide.com/calc.htm

knkdub · March 2014

I'm about to make a deal. Rogue SL w/premium package. Cap cost: 29,700 w/$1000k down. Total payments (includes taxes) for 36 mo's (12k/yr) is $335. Shopped 5 dealers, nobody else (at least where I live) could get me under $400/mo. So I feel like this is pretty good for right now. Any advice anyone? Thanks!!

knkdub · March 2014

Thanks to everyone who handles this forum - it was pretty helpful to me in the past couple of weeks while I was making my deal. Picked up my new SL today and loving it! Pretty happy with the deal I got based on the new $239/mo lease special that came out with that huge down payment of $2599...I think I did ok...and I love the vehicle! It took me 5 dealers and 3 weeks, but i got my price point.

kyfdx · March 2014

Congrats on the new car!!

detsoob · March 2014

A couple of pointer..
1) Never put any $ down on a lease. Its like you are giving away the money.
There are other ways to lower your monthly payment.
Main one is to negotiate bellow invoice use Nissan Vehicle Purchase Program
(VPP) = (dealer invoice)
But don't assume the VPP price is always better than what you can negotiate on your own.

2) While the dealership's still have 2013 in stock its going to be very hard to get a good lease payment on 2014 SL's. Also the SL's are selling very good as of now. When Nissan sees sales slow on the 2014 SL they will be more lenient and offer incentives.

3) and watch out for those add-ons some dealers will sneak by like
vehicle protection (aka undercoating and Scotch Guard), insurance, Advertising fee, Lot Fee ect..
Only pay for options that Nissan puts on from the factory. It says options included by manufacturer. They would show on the window sticker next to the mpg.

knkdub · March 2014

To the previous post, yes all good points. Interestingly right after I leased, Nissan came out with the current $279 rogue (base) lease, but I believe it's with $2599 down! YIKES! That's crazy. I shopped 5 dealers and I was stumped that only one of them would give me the numbers I felt were reasonable. I admit, I leased a Rogue during "not a good time", but, I wanted one, needed a new car, and I love it. Plus I feel my deal is really not bad..I will end up paying $12k for it over the course of the lease. In my area that seemed pretty good for a car stickered at $32k. And what I do know is most in my area are paying more...The first dealer wouldn't budge at: $2000 down and $400/mo. YIKES. I got $325/mo. Glad this forum is here - it didn't help me a ton as nobody from my area posts, but it was a decent guide!

alcap · March 2014

I picked up Rogue this weekend SV AWD w/ moonroof and premium package 36 month 12k/yr 335 per month w/ 335 down towards 1st payment. Also, I had 6 month remaining on my Altima lease which they claim Nissan will waive 3 months and the dealer was absorbing the other 3. Anyone think this was a good deal I think I could have done better? I leased Rogue in Northern NJ

Michaell · March 2014

@alcap said:
I picked up Rogue this weekend SV AWD w/ moonroof and premium package 36 month 12k/yr 335 per month w/ 335 down towards 1st payment. Also, I had 6 month remaining on my Altima lease which they claim Nissan will waive 3 months and the dealer was absorbing the other 3. Anyone think this was a good deal I think I could have done better? I leased Rogue in Northern NJ

If you could provide the MSRP, selling price and money factor, we might be able to determine how you did. How much money, if any, did you give the dealer at signing?

Getting both Nissan and the dealer to buy out your existing lease is a nice touch.

alcap · March 2014

@Michaell@Edmunds said:
Getting both Nissan and the dealer to buy out your existing lease is a nice touch.

The MSRP was 29,970 I am not sure of the money factor but I was given teir 1 credit from NMAC. The only money I gave them at signing was 335.00 that went to the 1st payment.

Michaell · March 2014

@alcap said:
The MSRP was 29,970 I am not sure of the money factor but I was given teir 1 credit from NMAC. The only money I gave them at signing was 335.00 that went to the 1st payment.

Not bad. Enjoy the Rogue!

alcap · March 2014

Thanks!

csp06 · April 2014

Hi Edmunds guys, does anyone have the April lease rates for the Rogue? I know it's really early.

I'm specifically interested in a Rogue SL AWD for 12k/36mo.

Thanks!!

kyfdx · April 2014

@csp06 said:
Hi Edmunds guys, does anyone have the April lease rates for the Rogue? I know it's really early.

I'm specifically interested in a Rogue SL AWD for 12k/36mo.

Thanks!!

.00186 MF and 53% residual.

The only Rogues with special lease programs this month are the "S" models.

will_22 · April 2014

I am also interested in the MF and Residual for a 2014 Nissan Rogue, SL AWD. 12k/36 mo. I live in Massapequa, NY. One of the dealers close to my area is quoting me a MF of .00120 and a residual of 63%. While I'm hoping those are correct, I'm fairly certain they are probably not. Thanks!

kyfdx · April 2014

@will_22 said:
I am also interested in the MF and Residual for a 2014 Nissan Rogue, SL AWD. 12k/36 mo. I live in Massapequa, NY. One of the dealers close to my area is quoting me a MF of .00120 and a residual of 63%. While I'm hoping those are correct, I'm fairly certain they are probably not. Thanks!

.00186 MF and 53% residual.

NY dealers are pretty well known for using independent banks for their leases. The factory lease program is terrible for this model, so it may be worth checking out, but watch the fine print.

will_22 · April 2014

Thanks for the info. Good point on the independent banks. I'm thru NMAC now and prefer to stay with them. The April MF and Residual you quoted is a big difference from March. Probably missed my window. Do you anticipate these getting any better over the next couple of months?

kyfdx · April 2014

@will_22 said:
Thanks for the info. Good point on the independent banks. I'm thru NMAC now and prefer to stay with them. The April MF and Residual you quoted is a big difference from March. Probably missed my window. Do you anticipate these getting any better over the next couple of months?

I really have no clue... It's hard to figure why they would remove all of the lease incentives from the Rogue, but maybe the new one is selling well.

will_22 · April 2014

Thanks again. One last set of questions at least for now . Can you let me know some of the things to look out for if the dealer wants to use an independent bank instead of NMAC? Is there a downside? What fine print should I watch out for?

kyfdx · April 2014

@will_22 said:
Thanks again. One last set of questions at least for now . Can you let me know some of the things to look out for if the dealer wants to use an independent bank instead of NMAC? Is there a downside? What fine print should I watch out for?

You want to make sure it's a closed-end lease. GAP insurance should be included, and if not, at least offered at extra cost (though, this may make the lease unaffordable). Pay close attention to disposition and purchase option fees, as they may be onerous. Many independent banks are not as forgiving as the captive finance companies, for wear and tear at the end of the lease. Of course, there is no way to tell that, in advance.

2014 Nissan Rogue Lease Questions

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