Lease: 2014 Nissan Maxima SV

rayd7

Hey All,

I am looking to lease a 3.5 Maxima SV (leather interior, rearview camera, monitor package, etc.) and would greatly appreciate your advice. I am putting 5k down for a 39 month lease and have the following info from a dealership:

Monthly payment: $239
No. of Months: 39
Money Factor: .000030
Residual Value: 52%
MSRP: 36,500

The decision process has become a bit confusing because of the 5k down payment. Should my monthly payment be lower because of the 5K down payment? Is $239 a deal worth taking?

Thanks in advance and please let me know if you need additional info from me to provide an answer.

rayd7

kyfdx

@rayd7 said:
Hey All,

I am looking to lease a 3.5 Maxima SV (leather interior, rearview camera, monitor package, etc.) and would greatly appreciate your advice. I am putting 5k down for a 39 month lease and have the following info from a dealership:

Monthly payment: $239
No. of Months: 39
Money Factor: .000030
Residual Value: 52%
MSRP: 36,500

The decision process has become a bit confusing because of the 5k down payment. Should my monthly payment be lower because of the 5K down payment? Is $239 a deal worth taking?

Thanks in advance and please let me know if you need additional info from me to provide an answer.

rayd7

The money factor is .00003 and the residual is 52% for 39mo, 12K/yr. SV Base model. So, that looks good.. But, more info is needed. Do you have the selling price of the vehicle? Does the price include tax? (if so, what state?). Do you have breakdown of the $5K? How much goes to fees, 1st payment, etc... and how much is a CAP cost reduction?

rayd7

sorry, newb to the forum. response below. @kyfdx

rayd7

@kyfdx said:
Kyfdx,

It is a SV value package which now includes seat warmers, steering wheel warmer, Bose sound system, etc. Still at 239 a month. Selling price is ~34k with a rebate of 3200.

The 5k covers NYS taxes, first month's payment, dmv fees, etc. I believe the fees were a little over 1k. The CAP cost reduction is 28292.

Thoughts now?

Thanks for the input. Much appreciated.

kyfdx

@rayd7 said:
Thanks for the input. Much appreciated.

The numbers all calculate correctly... 1st payment, title/registration/acq.fee, and around $1200 tax, with about $2600 as cap cost reduction out of your $5000.

The price looks good.. If it were me, I'd roll about $3700 of that $5000 back into the CAP cost, which would give you a payment around $335/mo. with just $1300 due at signing (to pay first payment and fees). With a money factor of .00003, the financing is nearly zero.. so, no point in giving them all that money upfront.