Nissan Altima Lease Questions

topgun7

"What's wrong with this picture? Are my numbers off? Are they rolling something into the lease payment and not telling me?"

Nothing much. You are missing some fees coming with leasing. There are a lot of fees that you did not mention how will you pay for.. e.g. there is a 600-750 acquisition fee for lease car (don't know the exact number for Nissan), the doc fee, car registration fee (do you pay for them upfront or roll it into the lease), and most importantly the sales tax. Some state like Texas make you pay for the sales tax on the entire transaction upfront (or roll into the lease). Other state like Kalifornia, make you pay tax on the monthly payment only. So one need to add 8.25% to 8.75% tax (depending on where you are in Kalifornia) to the payment.

mickylong

Thanks,

I went back to the dealer via email and found out they were quoting an "OTD" price with only first payment, license and reg. fees due at signing so I assume the Acq. fees and doc fees make up the difference. Although I did find out that using the "Buy Rate" might lead to incorrect numbers as dealers can inflate the rate by adding to the tiered reserve structure. In your experience, is this something that comes into play with Mfg. Base Rates or are dealers obligated to use the mfgrs. rate w/o additional mark-up?

jao6304

Car Man,

Can you post the lastest residual and money factor for an Altima Sedan 2.5S, 15k miles, 39 months?

Thanks.

surfwrv32

Hey guys. I got a quote today for an Altima 3.5 SE w/ Technology package and Monnroof wind deflector and it didn't seem right to me. The price they finally went to was $28,246. When I asked what i would pay a month for a 39 month, 12,000 mi/yr with all my taxes and fees up front they came up with this number:

$392/month with $2500 drive off cost

Does that sound right??

I thought the residual on a 39 month lease was 57% and the money factor was .00132?? Could you help me out?

sam1967

I am looking to close a deal on a 2008 altima s with sunroof and alloy wheels msrp is 24005 sale price is 22612. I am putting 2000 down icluding tax and first month on a 39 month lease 15,000 miles. I got a price of 298 a month including tax. around 320 over invoice. Is this a good deal? I also would like to know if trading in a car would be a good choice. Thanks.

starscream

I'm new to the site first post be gentle.

Ok my lease is up in 3 months I just started looking this past weekend I test drove the Altima Coupe 2.5s with convenience package. I have gotten a few dealer quotes but they seem to be really high, between 360-370 a month for 15k miles and just the frist payment down at signing. I'm I right in my assumption that these deals are very week? Has anyone recently closed a deal on 2.5s with Convenience package and 15k miles with 0 down? If so what was ur lease payment per month? Thanks for the help.

cmconti

39 Month Lease
$2250 deposit (trade in)
$227/month (including taxes) for a 2.5S
Dark Slate, CVT, floor & trunk mats + emergency aid package

an68

Is that for a Coupe or a Sedan? If it's for a coupe I think it's an unbelievable deal (money factor for the Coupe is a lot higher than for the Sedan). Could you pls let me know the dealership name??. thanks.

cmconti

It was for a sedan! The dealership is Haldeman Nissan in Hamilton, NJ 08690. If you use this dealer would you be willing to tell them I refered you?

Thanks,

Chris

an68

Thanks, Chris. It was too good to be true for a coupe... I live in upstate NY and would have been willing to go to NJ if that deal had been for a coupe.

Alberto

an68

What do u think about this deal?
Altima 2008 Coupe 2.5 S - manual transmission
Convenience pkg
36 months - 12,000 miles/yr

1500 due at signing, $ 350/month for 36 months (includes 8% taxes)
$ 600 cash incentive towards last payments of my current lease

It seems middle of the road to me, not bad, not great. If somebody has better deals to share please do so. Also if somebody can post invoice price for Altima coupe 2.5 s and April money factor (March was 0.00244 when I got the quote) please share it as well.Thanks.

Alberto

surfwrv32

Chris,

I actually am working through email with that dealership. I am trying to get a deal on a 2008 Altima 3.5 SE w/ Technology Package.

Did you happen to know the current money factor for new Nissan leases? Or residuals for the Altima 3/5?

Thanks and good luck with the new Altima!

-Rick

cmconti

Rick,

Sorry, but I don't remember what the financial manager said the money factor was. I have great credit, own a home and been working at the same job for almost 20 years. I did ask if I was getting the best rate (answered yes), and the monthly payment came in under what I calculated after settling on the purchase price. I'll see if I can find the paperwork, but the wife already filed it away because I lose stuff all the time.

Chris

steevo

Anyone have the April Altima lease numbers. Same as March? I just got a quote for an SE V6 36 months 15k and MF was .00131. Is that a markup or did Nissan raise it for April??
Also curious are the 24 month rates low enough to make them a better deal monthly considering the high 24 month residual? Consider I am in NY so the tax will also be less with a 24 lease..

will_22

Car Man,

I'm new to this site and just going through all the posts and came across this one from another post. The Altima 2.5 SL is what I'm looking at.

This seems like a great deal from what I've been reading. Thoughts?

And for Altima 2.5SL,

15K per year 36 month lease
$450 payment at signing
$299 per month including tax

will_22

Car Man, (or anyone else)

Again, I'm new to this forum. What do you think of this deal. Just had this presented to me over the phone:

Altima 2.5SL:

MSRP = 25,775
Invoice = 23,975
Cap Cost / Sale Price = 22,500

Residual = 59%
Money Factor = .00132

Term = 39 months

$280/mo.

Total OOP = 1200 (Taxes and 1st month)

Is this a good deal? My car lease calculator is still coming in lower than this.

steevo

Ok MF is the same. My quote was for 39 at .00132. 36 is still .00122. What is the 24 month MF and resid for 15k...?

krwest1

If you use 23,500 as the cap cost instead of 22,500, the payment is 280. I guess they could have misspoke?

surfwrv32

Anyone find out the money factor for the Altima 3.5SE 39 month 12K/year yet? Also the residual value?

will_22

Nah, It's not that. They definitely said it was 22,500. I have to think it's the addl fees they are going to add in, which I expect some. And again, I'm paying all my taxes up front so the only addl item I can think of are the fees. But to get to their number, I'd have to add in another 1600 dollars to the quoted cap cost. And that's just way out of line.

steevo

Yes.
39 is .00132 and 57% for 12000. 56% for 15000.

krwest1

The acquisition fee is $595, so that could be part of the $1600 difference. I hope the other $1000 is not all fees. That's a lot of fees.

rmiraglia

Can anyone tell me if this is a good deal.

I live in Orlando,FL. looking at an 08 Altima 2.5SL w/ Connection pkg.

36 month lease
15k per year
$330.00 per month PLUS TAX
$330.00 out of pocket

I have an 04 camry XLE leather, roof that I am trading in w/ 63k leased is for 60K.

Does anyone know what the residual & the money factors are in Orlando, FL?
Is this a good deal?

Rob

madams2

What is the current money factor and residual on a 2008 Altima 3.5 SL Sedan in NJ for 15K a year?

brian62

Got a quote (after long negotiation) of $400 a month (with 8% tax) and $1,000 drive off. 39 months with 12k mile per year.

2008 SL V6 with Technology Package
MSRP 31,005
Invoice 28,656
Residual of 57%
Money Factor .00132

Assuming my drive off covers 1st payment and Acq fee, looks like they are rolling my license plates (about $600 in AZ) into the lease and selling the car for about $500 over invoice.

Anyone getting better or similar quotes?

laderaking

Here are the specs and lease quote

All input welcome.

VEHICLE DESCRIPTION:

05418
2008 ALTIMA 3.5 SL 4DR AUTO
KH3-G
SUPER BLACK, CHARCOAL
Invoice MSRP
BASE $26,296 $28,380
ACT $0 $0
ACTIVATION DISCLA
AKP $134 $170
ALUMINUM KICK PLA
FLO $132 $175
MATS WITH HOOKS
SGD $106 $135
SPLASH GUARDS
SPL $292 $370
REAR SPOILER
TEC $1,735 $2,000
TECHNOLOGY PACKAG
VDC $780 $900
VEHICLE DYNAMIC C
WDF $71 $100
MOONROOF WIND DEF
50S $0 $0
50 STATE EMISSION
Freight Charge $625 $625
Total $30,171 $32,855
Manufacturer list price: $32,855

Your Internet Price: $29,021

There isn't a lease incentive but there is a lease special for the Altime, just not the one you are on so that doesn't help! Ok, if you were to lease it would be 24m with 12k mil/yr. Would you be covering the drive off? This is what it would look like:
24 month lease:
$401.68+tax with 12k mil/yr, $0 down, NO REBATE.

hwill1

First, I want to say 'thanks' to all for sharing information here. I had never leased a vehicle and learned much here and at LeaseGuide.com. It greatly helped me understand the process and hopefully make a good deal. I negotiated & signed the following lease at Lake Manawa Nissan in Council Bluffs, IA (just across from west Omaha, NE where I live).

36 mo. / 12K mi lease on Altima 3.5 SL
MSRP = $29,315 total [$28,380 + $135 (spl gds) + $175 (flr mats) + $625 (dest.) ]
MF = 0.00122 and 59% Residual = $17,295.85
Adj Cap Cost = $27,666 which included:
($595 Acq Fee + $17 Title & Tire Fee)
This got me into a monthly payment of $342.91 w/o taxes.
At 5.5% tax where I live in NE, put me at $361.77 total monthly.
My drive off was $361.77.
They waived the security deposit ($350) due to good credit. They had a $179 doc fee but after negotiation, seems they waived that and then some (like $105 to get to the adj cap cost I wanted) so I could drive off at $342/mo.

Plus, they found the color I wanted in KC and are swapping with a dlr there at no additional cost. Feel OK about it as it seems like just under invoice.

Thx again CarMan and others.

CarMan@Edmunds

Hi aaron1981. Different states use different methods for calculating sales tax on leased vehicles. There are three main methods of doing so (I suppose that you could say that there are four if you count the states that don't charge sales tax at all). In the first, the state taxes the payment and down payment. The last time that I looked into this, most states, including Florida, Georgia, Missouri, Connecticut, and California use this method. The second way is to tax the entire selling price of the vehicle. I believe that this is how sales tax is calculated on leases in states like Illinois, Texas, and Ohio. Lastly, some states only tax the depreciation portion of leases. This is tax is calculated on leased vehicles in New Jersey. If you tell us what state you are in, perhaps myself or another helpful community member will be able to give you an idea of how to calculate sales tax in your area.

As far as this car's lease program goes, it varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Coupe 2.5S CVT with 15,000 miles per year are .00240 and 57%, respectively.

Car_man
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CarMan@Edmunds

Here you go, jao6304. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2008 Nissan Altima Sedan 2.5 S with an automatic transmission and 15,000 miles per year are .00132 and 58%, respectively.

Car_man
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CarMan@Edmunds

Welcome starscream. Since you are new, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer that gives you a price that you are happy with calculate your monthly payment using its buy rate lease money factor.

Car_man
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CarMan@Edmunds

Hello steevo. Nissan Motor Acceptance Corp.'s April buy rate lease money factor and residual value for a 36 month lease of a 2008 Altima Sedan SE V6 with an automatic transmission and 15,000 miles per year are .00122 and 57%, respectively. This car's 24 month money factor is exactly the same. I haven't crunched any numbers, but I suspect that a 2 year lease of one right now would be much more expensive than a 3 year lease.

Car_man
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CarMan@Edmunds

Welcome aboard, will_22. It is difficult to analyze this deal without knowing what this car's full MSRP and selling price are. These are important numbers 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 what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment.

Negotiating a selling price that's as close to dealer invoice as possible and then having the dealer calculate your monthly payment using its buy rate lease money factor is a good way to get a great deal on a leased vehicle.

Car_man
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CarMan@Edmunds

Hey Rob. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Sedan SL with an automatic transmission and 15,000 miles per year are .00122 and 58%, respectively. Shop around with a couple of dealers for the lowest possible selling price on this car and then have them use this lease program to calculate your monthly payment and you're in business.

Car_man
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CarMan@Edmunds

Here's the information that you're looking for, madams2. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima Sedan 3.5 SL with an automatic transmission and 15,000 miles per year are .00122 and 58%, respectively.

Car_man
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CarMan@Edmunds

You're very welcome, hwill1. Thanks for taking the time to stop back and share the details of your lease with everyone. Don't forget to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

Car_man
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surfwrv32

Hey Car Man,

First and foremost, you do a great job here keeping up with all these requests!! I recieved a quote today and wanted to know what you thought about it..

2008 Nissan Altima 3.5 SE w/ Technology Package
39 Months
12K/ year

They want $1800 drive off and $330/month for 39 months.

Let me know what you think please.

I appreciate your help.

Regards,
Rick

will_22

Car Man,

I agree completely. You do an unbelievable job with all this and it is much appreciated. Here is the deal I made this week. The information I learned from this forum was tremendous and it helped me get what I think is a great deal.

What do you guys think.....

2008 Altima 2.5 S
- SL Pkge
- Connection Pkge
- Splash Guards
- Floor / Trunk Mats

MSRP: 26,465
Invoice: 24,623
Selling Price: 23,525 (yes, this is correct! They sold it $1,100 below invoice)

* They rolled in my last month payment and Acq Fees (which I think everyone is ending up paying) to get my Gross Cap Cost to $24,445)

Residual of 59%
Money Factor .00132

Term: 39 months

Total OOP: 1st Month + Taxes + DMV

Monthly Payment: 279/mo.

I feel really, really good about this deal.

flyinlynx

Hi Car Man, I was wondering if you could tell me what the money factor and residual percent on an Altima hybrid (loaded with tech package) would be. I found your explanation of leasing very helpful and I now understand how to use these numbers. Thanks so much!

Brendan

steevo

car_man & kyfdx and anyone else following this thread that may have the scoop,
I have a good deal worked up on an Altima 3.5 SE,
MSRP 30715, Base Cap 28202. Works out to 352.82 + TTL for 36 months using the April numbers.
Its the end of the Month.. Consider..The 2009 models are likely to appear any week now, AND the 2009 Maxima will be on lots in June.
So, is it likely that the 08 Altima will have more incentives in May and/or will the Maxima incentives increase to a point where it may be better to lease more Maxima for same money as the Altima I priced? I am ready to buy, but my existing lease can be turned in up until June 5th and I have made the final payment already. My only current incentive to go NOW instead of wait till end of May is that I am over mileage to the tune of a few hundred dollars which I am going to try to get them to eat when its time to sign(my bet is Nissan rebates me the May payment negating the overage if I close the deal now)....
Any opinions welcome..... My gut says if I go now they will eat the mileage on my Pathy, but end of May might see some "get rid of the 08s deals..
Am I getting too flaky? :confuse: ?
Steve

steevo

Forget it. I picked up the Car.
Ended up at 369 including Tax.
Precision Grey 3.5 SE with Premium, Sport, VDC,Splash guards.
No ugly moon roof deflector! Car is sweet.. Would be near perfect with bigger tires, maybe 18" 45s.

bubbler86

I am sure this is a monthly question but does anyone have the money factor and residual for the 2.5 S Altima yet...for May 2008? Almost pulled the trigger on one last week but did not do it and may regret

2.5 S with SL and Connection

$330 a month for 39 Months
$330 down
15 K Miles
Majestic Blue

steevo

Will probably be out in a few days. My guess is it will improve since I pulled the trigger yesterday!
Steve

bubbler86

How can they not have it out now? Do they just not sell cars (or lease but the same to them) in the first few days of a month?

kyfdx

The dealers know on the first day... But, the information is confidential..

It takes a few days to filter out to the people who aren't supposed to know..

steevo

Email a few dealers and ask for the numbers yourself. Then YOU can be the one to tell everyone the May numbers!

bubbler86

I tried that and they are playing stupid :-). Say they do not have them yet. They are sore because I did not buy a car yesterday to help their April numbers.

kenmarksnj

Even though the May lease rates are unknown, I am wondering if you could just give me any thoughts as to whether the price I'm seeking is practical:

I would like to lease a 2.5 S with SL and connection packages, CVT.

I am looking to spend in the ballpark of 300/month, but I can go up to 325. Additionally, I have up to 3,000 dollars to put down on a lease. Do you think I could walk away with this?

bubbler86

Same answer as I gave you in the Honda thread. Not a good idea to put money down on a lease as your insurance company will not pay that money back to you if your car is stolen or totaled. Secondly, I had an offer (last month) to lease an 08 Altima 2.5 with SL and Connection package, for $330 a month and no money down.
15K miles a year. That includes the taxes as well. 6.5% in my county in Fla.
If you put 3K down on Altima you should be under $300 a month. Way under!

steevo

Yes you can..
. I am a serial car leaser/buyer. Here is my advice..
Go to CarsDirect and build your car to have the identical MSRP as the one you are looking at. Then you will have fair selling price probably a bit higher than the best you could do in your area. Compare that number to peoples experiences in the forums here and come up with a number to offer. Add the rebate since its not included in the lease. Then plug the numbers into your favorite lease calculator. I use the one at LeaseGuide.
Voila!
To me the main factor in getting the best internet deal is NOT having a trade. If you can keep the deal to negotiating your purchase only you will get a quick easy deal at any volume dealership with an internet department.
More important, don't stress over a few bucks or drive all over the country to save a hundred dollars. At some point you have to decide to make the deal and buy the car you want. Be happy and enjoy it because you will always realize you could of done a little better when you look back on the deal a day/week/month later.
Good Luck, :shades:
Steve

bubbler86

I just got one guy to give me the rate on an Altima 2.5 S. He said the money factor is now .00087 and the residual is 57%...on a 36 month lease. He said on a 39 month lease the numbers are a little different but did not get them.

Thanks