Nissan Altima Lease Questions

will_22

Does anyone know what the residual and money factor is for a 2.5 S Sedan (with the SL package) for a 36 and 39 month lease with 12K?

mikeanj

I very much like the Altima sedan 3.5 CVT with the tech package. I'm not very good at negotioation. Can I get a lease payment around $350? I'd like 12K miles and 36 or 39 months, minimum down (can I use the rebate as a down payment?) Thanks - I'm happy to see that so many folks are willing to share their experiences. What a great way to get informed.

jiggytom

Hey guys,

I just got a lease on a Nissan Altima 2.5s Coupe with the convenience package, floor mats and aluminum kick plates. $2000 out the door and 300 a month after taxes, fees and everything. Selling price was a couple hundred under invoice I believe. Wanted to know what you guys thought about the deal I got.

mikeanj

Hello all - I've been doing some research and I think I'm out of my price range for the 3.5. Can I get the 2.5 CVT with the tech package and leather? Still want to lease for 36 / 39 12K and keep payment around 350 and litlle or no out of pocket. Thanks in advance. Mike :confuse:

yakigyoza

Hi all,

The money factor for the 2.5 S Sedan for tier 1 credit is still 0.00087 (2.09%) for a 36 month lease. I believe the 39 month term has a different money factor. The money factor for the coupe is different. These are only good until end of June 2008.

I just acquired my vehicle today after calling and communicating with roughly 18 dealerships over the course of three days. Not all were ready to offer me good deals. Two were very ready to do business. To ensure the best deals, make sure you ask for an internet fleet manager and BE SURE to contact multiple dealerships.

Details of my lease:
2.5 S Sedan with SL / Tech / Connection package / Automatic Transmission

MSRP = $29,470.00
Adj Cap Cost (Negotiated Cost) = $26,800.00
Net Cap Cost (w/ $595.00 destination charge) = $27,395.00
Invoice = $27,163.00

Money Factor = 0.00087 (Tier 1 Credit)
36 month Term Lease
12,000 Mile / Year Agreement
58% Depreciation

Drive Off = (1rst month + DMV Fees) = $650.00
Monthly Lease = $357.21 / month

I was able to negotiate the net cap cost to roughly $363.00 below invoice. Another dealership offered me $500 below Invoice PLUS free oil changes for the life of the lease but I already told the first guy I would commit to him and I'm a man of my word. I believe in strong business ethics and I don't necessarily have to go with the lowest bidder.

For my particular lease (12K), since it would cost $0.15 per excess mile if I drove over 36K miles for the 36 months, I decided to go for the 15K per year allowance because it was much cheaper. It was roughly 3.7 cents per excess mile if I drove 15K per year purchasing the extra miles up front versus sticking with the 12K per year program and paying 15 cents per excess mile at the end of lease. I knew I was going to easily drive 15K per year. Depreciation only changes by 1% for the 15K / year program so use 57% depreciation if you go for the 36 month - 15K / year model.

So for 12K / year (36 month term), it was $650.00 walk off and $357.21 / month.
For 15K / year, (36 month term), it was $650.00 walk off and $366.64 / month.

I am from SoCal and of the many dealerships I contacted, I only recommend two dealerships / Internet Fleet Managers who I would use again. Both were very easy to work with and honest which is important to me. Should you need those names, drop me a PM and I'd be happy to let you know who I dealt with.

Happy Negotiating Guys and good luck!

-Yakigyoza

clasys

Hello all.

First of all, I want to thank everyone who shares his experience and prices here; that helped a lot with my last lease negotiations. Special thanks to CAR_MAN. In return I want to share my deal. Just took a delivery of my new 2008 Altima S with SL and Connection packages this saturday. Went with my wife just for her to test-drive it; ended up leasing it on a spot. I think I could have done a little better,like another $10 off the monthly payment, but my wife really liked the color combination, so we signed the lease:

$309 per month (tax included), $700 due at signing ($309 1st month, $250 MV fees and $141 cap cost reduction)

2008 Nissan Altima S, Precision Gray with Charcoal Leather
Options:
SL Package
Connection Package
Carpeted Floor/Trunk Mat Set w/Hooks (5-Piece)

39 mo lease/ 12,000 miles per year

MSRP: $26,655 (incl. destination)
Base cap cost: $24,450
Costs added to lease: $1,144
Aquisition fee ( $595
Doc Fee $299
DMV Fees $250 )
Cap cost reductions: $391
Adjusted cap cost: $25,203
Residual Value: $15,460 (58%)
Money Factor: 0.00087 (I'm the highest tier)
Lease term: 39 mo
NY Sales Tax: 8.375%

Monthly payment: $309 ($285 base + $24 tax)

Depreciation: $9,743
Finance charge: $1,380
Total Sales Tax: $965
Total of all payments: $12,088
Total lease cost: $12,479

Hope this helps someone to negotiate his next great lease.

Any thoughts on these numbers? I think I did very well...

PS. I absolutely love its ride and connection package. Wasn't really looking specifically for connection package, but boy am I glad it had one! This bluetooth handsfree is just awesome! I also have 2007 Murano SL AWD with Touring package, Altima was meant for my wife. Guess what: today my wife took Murano to work, thats how good the ride is on this car!
~D

will_22

I think you did very well. I actually made a deal back in April for this very car and my deal was very comparable to yours. And I'm very confident these are good deals.

I'm actually now helping a friend out and need to know the current money factor and residual for this month. Looks like you have them at .00087 and 58% respectively for a 39 month lease. This is what I needed to know. I'm also from NY and I noticed your sales tax is at 8.375%? Is that correct? I thought it was 8.625%?

clasys

Thanks. Yes, NYC sales tax is 8.375, or as dealer reffered to it 8.38%. Originally I was negotiating a 36 mo term, and 58% residual applied to 36 mo. But then dealer said that he cant do 36 on these terms, and offered me 39 months + 3 free oil changes for same price. We didn''t specifically negotiate new residual, it might as well be just a bit lower.

As far as I know current money factor and residual are good until the end of June. No one seems to know what it will be in July. Good luck with your friend's deal.

~D

will_22

Ok, thanks for the update. I think the residual does go down 1% when you move from 36 to 39 months so I can adjust the calculations and use 57%.

troy15

Hi Yakigyoza ,

I looking for the same car that you bought last week.
I can put $1000 down and willing to get close to the $300 a month.
I'm also from SoCal (S.F.V) and would like to know how did you deal with?

Are you happy with your new car?

Thanks,
Roy.

hillscar

Hi. I'm looking for the same, in the same area. Please let me know who you recommend. Thank you!!

habiem

anyone know money factor and residual on 36 month, 15K lease on a 3.5SL? Thanks!

tomme12

Car_Man

You appear to be "the man" when it comes to the lease arena and the Altima

What kind of "ammo" do I need to have prepared when I go into a dealer on Sunday (end of the month) to try and haggle my way into a good deal lease for the Altima. Of course we all want to pay next to nothing and little to nothing down.

Im in the Bay Area. Looking at either a 2.5 SL with conv package or a 3.5 SL. Of course, the 3.5 would be nicer, but depends on the price. If I can get my way into an 3.5 down to $320, I might do it. But if I can get into an SL down to $250+tax, I might do that as well. (with little to nothing down as well.)

cheers!

hillscar

I'm going to lease this weekend- still debating over coupe or sedan, and I'm looking to get moonroof and conv. pkg., 36 or 39 mos. 15,000 miles for 2000 down or less and 300/mo. in southern cal. Anyone have advice?
thanks!!!

troy15

Hi Hillscar,

I guess we are both looking for the same car/deal.
I wish Yakigyoza would give us some tips from his experiance.
If i would find something i will post it here, please do the same.

Thanks,
Troy

hillscar

what area did you find this in?

hillscar

I know, I've been waiting- I'm going to lease this weekend. I've been calling around and so far the best I've been able to find is 2k down, and 359/mo, but that's too high!

habiem

anyone know that the upfront mileage cost is for the 3.5SL? I need more than 15,000 miles per year and am trying to see what it will do to my payments. For example on acuras, I know this cost is $0.10/mile. Thanks!

troy15

Got It!!!

2008 Altima 2.5S 4 doors 5 A/T.
SL /Conn/ Tech Packages for 39 months 12K miles per year.
MSRP $29,470
Silver with Black leather.
$339 a month with $1,000 Drive off.

Santa Monica Nissan.

hillscar

Congrats!! I didn't get mine yet. leather, nav and connection for 1k down and 339/month! How did you do it? : )

troy15

Thank you.
...And don't forget the 3 years of free oil change...!!!

Nissan at Simi Valley has two of those models and the dealer at downtown has one.
Before I've got mine they checked and told me that there are only 12 left in CA.
(11 after I took mine )

hillscar

Santa monica didn't give me anything like that deal when I called. how did you do it?

habiem

As soon as anyone knows, I'd love the July MF and Residual for a 2008 3.5SL. Thanks!

milt7696

Hi Car_Man,
Was unable to finish negotiating a lease for June. Do you know the July lease factor and residuals for a 2.5 S sedan with CVT for 36 month/36000 miles?
Thanks for all your help!

eleven03

I see the posts above are in my same boat.

I'm assuming the money factor won't change based upon the model. But I'm looking for a 2.5 S w/SL and connection packages for 15k m/yr for 36 mo. and would like to know the residual on that. Will is stay around 58% as noted in previous posts?

Thank you.

marcogallo1986

not bad you did real good best around that I no of anyone get any good leese deals in the new York aria or nj or pa or any other states thankyou.

starscream

I have gotten various offers from dealerships all over NE Ohio this one is the lowest so far how does it look?

To Buy:
Internet Sale Price: $19985 plus tax and title fees, including all incentives, or choose 3.9% financing with a sale price of $20485 plus tax and title fees

To Lease:
Lease Price and term*: $298 plus tax for 36 months/12k miles per year with just first payment and fees due @ signing OR $305 plus tax with 15k miles

CarMan@Edmunds

Here you go, will_22. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Altima 2.5 S Sedan with an automatic transmission and 12,000 miles per year are .00087 and 56%, respectively. The numbers for an otherwise identical 39 month lease are .00097 and 55%.

Car_man
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CarMan@Edmunds

You're very welcome, clasys. Congratulations on getting your new Altima. Thanks for taking the time to share the details of your lease with everyone. Real-world examples like this are always helpful for consumers who are in the market for similar vehicles. 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 as well. Enjoy your new ride :shades: !

Car_man
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CarMan@Edmunds

Here's the info that you're looking for, habiem. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Altima 3.5 SL with 15,000 miles per year are .00087 and 58%, respectively.

Car_man
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CarMan@Edmunds

Hi tomme12. the best way to get a good deal on a lease is to negotiate the lowest selling price that you can and then have the dealer calculate your monthly payment using your car's buy rate lease money factor. Given the current state of the economy, I suspect that you will easily be able to purchase an '08 Altima at dealer invoice.

Car_man
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CarMan@Edmunds

Hi habiem. I have seen Nissan's new July lease program and I would be happy to help you out. This car's lease program 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. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Altima 3.5 SL Sedan with 15,000 miles per year are .00087 and 58%, respectively.

Car_man
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CarMan@Edmunds

Here you go, milt7696. NMAC's July buy rate lease money factor and residual value for a 36 month lease of a 2008 Altima 2.5 S with an automatic transmission and 12,000 miles per year are .00087 and 56%, respectively.

Car_man
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CarMan@Edmunds

Eleven03, NMAC's July buy rate lease money factor and residual value for a 36 month lease of an '08 Altima 2.5 S Sedan with an automatic transmission and 15,000 miles per year are .00087 and 55%, respectively.

Car_man
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stygz1

I am looking at leasing an altima. I see they are offering 199 a month for 36 months. Since i am new to this i need some pointers. First is there any negotiating? second to get the 199 lease i would have to put down almost 3k....i would actually want to do a zero down lease on a 2.5s cvt how much would that bump my payment? I am in the wisconsin area. I am looking at a 12k mile lease....basically i want what deal is advertised but zero down. Our tax rate is 5.5%. Third i see the factor is .00087 how do you compute this?

stygz1

If someone can show me a genaric math equation on a $20k car that would be great!

20000 x 58% = 11600
11600 - 20000 = 8400
8400 / 36 = 233.33

is this right?

eleven03

I got the car.

Out of pocket $900 (including 1st month, TTL)

$343/month tax in for 2.5 S with SL and Connection packages, car/trunk mats, wind visor. 15,000 mi/year, 39 months and extended warranty.

Thanks to everyone in this forum and especially to Car_man.!!!!

milt7696

Thank you Car_man!
What are the July numbers for a 3.5 SE for 36/39 months and 12000 miles per year? Thanks
Milt7696

sayhey

Hi, looking for the same car in NY/NJ. Would you be able to identify the dealer where you leased? thanks

clasys

With pleasure. I had great experience dealing with them and would recommend this dealership to everyone. Its Route 22 Nissan, located in Hillside. As per Edmund's membership agreement, I can't provide salesperson's name. Hope this helps you to get your next car.

fletch58

I am ready to pull the trigger on a Coupe 2.5 auto with premium package.
36 month lease, money factor .00209
@ 15K miles residual is 57% which is fine BUT
@ 18K miles they say its 52% and 20K miles it's 50%
That seems like quite a drop and something isn't right. As far as the car, its a great deal as i am a repeat customer. MSRP $27,385 cost $24,729 which is $600 under invoice. Only added stupid fee is the $595 aqusition fee. Car man or anyone else who has leased for over 15K miles, what the deal ?
Basically the diff between 15k and 20K is about 11.5 cents per mile. Thats getting close to the .15 cents the charge for overage

Thanks in advance

ral2167

whats the monthly payment?

fletch58

15,000 miles , residual 57%, $402.18
18,000 miles, residual 52% $436.49
20,000 miles, residual 50% $454.35

fletch58

car_man, I would love you opinion, thanks ?

fletch58

Ok, I switched to a S with SL package with all the bells and whistles. MSRP $29,570, cost $26,684 With all stupid fees etc. 39 months 20,000 miles per year
$1250 out of pocket which includes first, $387 a month includes tax. This is under invoice but not sure with all the fees, makes it as sweet. I will tell you the 20k miles really increases the payment. Comments ? I will pick up next week so please chime in ????? Car_Man .... I need your blessing ??

kingpcgeek

car_man

can you please provide me the lease rates for the Altima Coupe 3.5 SE, 36 months, 15k miles?

thanks

kingpcgeek

never mind, they are outrageous.

36 months, 15k miles is 55% and .00240 MF. I can lease a G35 for the same payment as a Altima Coupe 3.5SE

medic8ed

Sounds like it.

I just got a fully loaded Altima 2.5 SL with connection package. 15K mile/yr 39 months lease.
4K out of pocket (includes fees, tax, title, plates, 1st payment) with $250 per month.

Good luck with the search.

fletch58

How much in advance do you have to post to actually get a response ?

mike_ny

Hey guys,
New to forum....just wanted to know what everyone thought about this deal...black on black 3.5 SE coupe, w/Premium package and aluminum kick plates....3200 down $365/month...36 month lease, 12k miles/yr....basically has everything i want except the navi and originally wanted the car in winter frost...good deal??