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Lease 2015 Murano Platinum w/tech package MSRP is $42,900

hlcastelohlcastelo Member Posts: 45
edited May 2015 in Nissan
Would like to know if this deal is reasonable. $349 mthly including FL sales tax. Down payment is $7500 (includes 700 dealer fees, 200 tags/registration. Dealer is quoting $24,304 residual value. this is a 36 mos lease with Nissan finance. They are quoting net cash price b/sales taxes of $39200 month end special.

Thank you.
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    MichaellMichaell Moderator Posts: 242,807
    hlcastelo said:

    Would like to know if this deal is reasonable. $349 mthly including FL sales tax. Down payment is $7500 (includes 700 dealer fees, 200 tags/registration. Dealer is quoting $24,304 residual value. this is a 36 mos lease with Nissan finance. They are quoting net cash price b/sales taxes of $39200 month end special.

    Thank you.

    We do not recommend making a down payment of any size on a lease - if the car is stolen or totaled, you lose that money.

    The 36/15 lease numbers on the Murano Platinum are .00081 and 55%. With the MSRP and selling price you've provided, I get a pre-tax payment of $450.99 with $0 down.

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    hlcastelohlcastelo Member Posts: 45
    Thank you. Is the residual value calculated against MSRP of car before fees and sales taxes ?
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    hlcastelohlcastelo Member Posts: 45
    thank you. My deal is beginning to look less favorable now. I have 12miles per year. I did negotiate required maint for 3 years and road hazard (but that on mthly basis is not big $$) They state it is about $30 /month for $1000 down. My monthly is $326 b4 tax . You estimate at $450. Using the $30 /1000 guide, to get down to $326 would call for about total $5000 cash down ( I have dealer fee $700 and tags/registration $250)
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    MichaellMichaell Moderator Posts: 242,807
    hlcastelo said:

    thank you. My deal is beginning to look less favorable now. I have 12miles per year. I did negotiate required maint for 3 years and road hazard (but that on mthly basis is not big $$) They state it is about $30 /month for $1000 down. My monthly is $326 b4 tax . You estimate at $450. Using the $30 /1000 guide, to get down to $326 would call for about total $5000 cash down ( I have dealer fee $700 and tags/registration $250)

    Actually, it's closer to $28/mo reduction in payment for every $1000 down.

    Do you have the full breakdown of the $7500 you gave the dealer at signing?

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    hlcastelohlcastelo Member Posts: 45
    Thank you. It is proposal. The only bdown I have is the 700 dealer fee , 250 tags and title. I do know that I would have to pay florida sales tax on remainder of down payment. I don't have price of maitenance or road hazard contract but those should total about $700. The dealer is clearing the May inventory and came up with this. Since the car is New NISSAN has no offers for lease on the high end model.

    are the details you provided specific to State of Florida (i.e. the money factor). Using the residual they gave me of 24304 on an MSRP of 42,865 is 56..7% which is close to your number
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    MichaellMichaell Moderator Posts: 242,807
    hlcastelo said:
    Thank you. It is proposal. The only bdown I have is the 700 dealer fee , 250 tags and title. I do know that I would have to pay florida sales tax on remainder of down payment. I don't have price of maitenance or road hazard contract but those should total about $700. The dealer is clearing the May inventory and came up with this. Since the car is New NISSAN has no offers for lease on the high end model. are the details you provided specific to State of Florida (i.e. the money factor). Using the residual they gave me of 24304 on an MSRP of 42,865 is 56..7% which is close to your number
    The Nissan numbers are national. 

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    hlcastelohlcastelo Member Posts: 45
    Michaell- I have a question. having studied the formula to calculate the lease payment, I have a question for you. I follow the calc for the depreciation component, but on the finance charge- why is the money factor applied to the sum of the capitalized cost plus the residual value? Isn't the amount 'borrowed' the capitalized cost (msrp plus fees less cash down)? That obviously would be the sum borrowed if purchase by loan..
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    MichaellMichaell Moderator Posts: 242,807
    hlcastelo said:
    Thank you. It is proposal. The only bdown I have is the 700 dealer fee , 250 tags and title. I do know that I would have to pay florida sales tax on remainder of down payment. I don't have price of maitenance or road hazard contract but those should total about $700. The dealer is clearing the May inventory and came up with this. Since the car is New NISSAN has no offers for lease on the high end model. are the details you provided specific to State of Florida (i.e. the money factor). Using the residual they gave me of 24304 on an MSRP of 42,865 is 56..7% which is close to your number
    The Nissan numbers are national. 
    hlcastelo said:
    Michaell- I have a question. having studied the formula to calculate the lease payment, I have a question for you. I follow the calc for the depreciation component, but on the finance charge- why is the money factor applied to the sum of the capitalized cost plus the residual value? Isn't the amount 'borrowed' the capitalized cost (msrp plus fees less cash down)? That obviously would be the sum borrowed if purchase by loan..
    It's the average of the two that the rent charge is applied to over the entire term of the lease.

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    hlcastelohlcastelo Member Posts: 45
    Ok, the simple average times the money factor is the finance charge per month?

    thanks.
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    kyfdxkyfdx Moderator Posts: 239,007
    hlcastelo said:

    Ok, the simple average times the money factor is the finance charge per month?

    thanks.

    No.. it's the total amount times the money factor.. It's averaged by the money factor being half what it would be, otherwise... Just makes for a simpler calculation, with one less step.

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    AutomatedTraderAutomatedTrader Member Posts: 5
    While not yet where I want to be on a 2015 Touareg deal I want to know 2015 Murano Platinum numbers for Texas for July....any Lease Cash? Also need RES/MF for 36mon/12k & 36mon/15k options.

    Thanks!
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    MichaellMichaell Moderator Posts: 242,807

    While not yet where I want to be on a 2015 Touareg deal I want to know 2015 Murano Platinum numbers for Texas for July....any Lease Cash? Also need RES/MF for 36mon/12k & 36mon/15k options.

    Thanks!

    55% and .00024 for 36/15. Add 1% for 12K

    No lease cash that I see.

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    AutomatedTraderAutomatedTrader Member Posts: 5
    You absolutely ROCK!

    Thanks for all your excellent details!
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