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Nissan Altima Lease Questions
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I am registering in NY, i got it for 290.00 a month 0down sign an drive.
sound good?
Sale price:24300.00
Trade in: 1000.00 ( I might try to get a little bit more)
Rebate:750.00
Upfront charges: 125.56
Total cap reduction: 1328.24
39 month lease: 296.00
and 12K miles year (try to get at least 15K)
MSRP: $25,790
Sale Price: $24,300
Money Factor: .00047 (lower than Car_man had previously identified, may be regional)
Residual @ 55%: $14,184.50
OTD Costs: $882.46 (doc fee, first month's rent, tags)
I challenged the residual based on what was posted here, and they said that they confirmed with NIMAC. I was told the '08s are eligible for the $750 bonus cash and that was all the wiggle room I had. I wasn't that excited by the offer, especially with a "pure profit" doc fee applied. Thoughts?
Car_man
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Of course, my personal lease expires in...wait for it...February. Grumble, grumble, grumble. We'll have to see what's out there next month, but it won't be like what was out there last.
Car_man
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I see that NMAC has new incentives out.
I am thinking of leasing a new 2009 Altima 2.5S w/ SL, both convenience packages, connection package, splashguards, mats, MSRP $27,395 including destination. What are the current money factors and residual percentages for a 36 month lease? How about for 24 months?
Many Thanks
Mike
I am soon to turn in a 2007 Nissan from lease. What can I expect from the inspection process? Should I get the car detailed? I do get two inspections, and I better off just having it inspected as-is, and if any issues arise (minor scratches, etc) then have those addressed and have the car re-inspected? The car is in really great shape, just minor surface scratches).
I am thinking of leasing a new Altima. NMAC has offered a $500 credit toward any damage. What experiences have other leasees had, does NMAC/Nissan offer any added incentives as the lease comes to an end? The representative from NMAC on the phone said there might be some "in the mail". I an thinking of better rates, possible dscounted prices, and my most hoped-for incentive, waiving the acquisition fee for a new lease. Seems thay have already acquired me as a customer, that $595 fee really grates on me.
Thanks
Mike
I am holding out for a Nissan rebate in conjunction with the lease, like the $750 Nisan offered in December. My dealer says it has expired (and the Nissan site seems to verify this). Maybe secong half of January...fingers crossed.
Thanks
Mike
Any help is appreciated.
Thank You,
1. Acquisition Fee - $595 (From leasing company, non-negotiable)
2. Doc Fee - $599.95 (Dealer's Doc fees, prue profit)
3. Rental Surcharge - $60.00 (huh?)
4. Tire Fee - 5.00
5. Battery Fee - 1.50
6. MVWEA - 2.00
I'm being feed to death!! Help!
36 or 39 months 15k/yr
All I did was vacuum the inside, it had been cold and rainy here in NC so I had not even washed the car.
All in all, a good experience. Now I have to convince someone in the "customer retention" department at NMAC to offer some incentives (reduce/eliminate the acquisition fee and disposition fee, maybe??) on a new lease for an Altima.
I am looking at a new 2009 2.5S with SL, both convenience packages, connection package, mats, and splashguards. MSRP = $27,395. Invoice = about $25,398. I hope to get a few hundred under invoice AND that Nissan adds a rebate applicable to leases like they did in late December. I want to lease for 36 months, 12,000 miles a year. One dealer has told me that for that the MF = .00158 and the residual = 60%. Anyone able to verify those numbers?
Mike
Both deals are sign and drive. 12k miles/yr. and includes floor mats (as if I had a choice).
Altima:
2.5S = $284 + tax 39 months
2.5S w/convenience pkg. = $296 + tax for 39 months
Anyone care to comment on these deals? I want to make the decision within the next 2 weeks. Thanks in advance.
ONLY first payment due at signing
15K miles
345 per month
wanted to be closer to 300 but did not know if that was realistic???
You definitely don't want to lease this car for 24 months, Nissan is no longer providing support on 2 year leases.
Car_man
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I am not aware of any owner loyalty incentives on the 2009 Altima right now, though it is possible that Nissan might send you some sort of direct mail offer.
Car_man
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Things definitely are tough for dealers right now. Nissan doesn't have the same problem of having too many dealers that GM, Ford, and Chrysler have, but I would not be surprised if the domestic manufacturers actually want some dealers to go bankrupt. One way or another they have to reduce the number of dealers that they have. Any dealer that files for bankruptcy is probably one less that they will eventually have to buy out.
Car_man
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You definitely don't want to lease this car for 24 months. Nissan is not currently providing support on two year leases of any model.
I do not believe that Nissan is currently providing any cash incentives on leases of this model.
Car_man
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Car_man
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Having said this, I can see what manufacturers have them. For one, it is a source of income that most lessees don't think about because they either don't ask about or don't worry about it because it will come years down the road. Also in a strange way, dispo fees may actually encourage customer loyalty in the sense that banks will usually waive them for lessees who lease their next new vehicle through them.
Car_man
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As you seem to already be aware, the whopping $600 doc fee is completely bogus. It really isn't anything more than a way for the dealer to add additional profit to your deal. If I was in the market for an '09 Altima and the dealer was charging such a heft doc fee I would make sure that I was being charged a selling price that is right at, or better yet under dealer invoice. If not, then I would take my business elsewhere.
I'm not sure what the rental surcharge fee is. If you ask the dealer, let us know what you find out.
Car_man
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Car_man
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Car_man
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I have asked my best-offer dealer to see what it takes to add the moonroof wind deflector and dealer-installed fog lights and to get my color combo for me. I really want to wait till February incentives come out (seems like there is always a "Presidents Day Sale") BUT I have concerns that in February the money factor will be the same but the residual will drop a percentage point. Looking at some past history this looks likely, which will cost me an extra $7 a month or so. So I may pull the trigger on the deal on February 2 when the current incentives are due to expire and just have an extra car till February 21, when my Maxima has to be turned in. If anything, that will make me way under-mileage for the first month of the Altima and give me some extra miles to use later. Of course, there are a few expenses (property taxes, insurance, etc) with having an extra car for 19 days), but they are relatively minor.
One other thing, NMAC offered the $500 damage allowance which I do not need since I took such good care of the Maxima. I queried the NMAC rep on the phone doggedly trying to get them to give me that $500 toward the acquisition fee. His mantra over and over was that "any offers would be handled by the dealer". A couple of dealers have hinted that there may be hidden incentives that Nissan or NMAC pass on to the dealer in order to retain a loyal customer, and that some dealers have extra Nissan incentives due to hitting or needing to hit certain sales targets. Some dealers say they cannot touch the $776 under invoice deal and they think the best-offer dealer is getting/using some of those incentives.
The deals breakdown as follows: (both deals are now 1st payment due at signing)
2009 Nissan Altima 2.5 S
MSRP = $22,410
selling price = $20,707
Residual Value is 59% or $13,221.90
money factor is 0.001580 = 3.7%
39 months
12k per year
$277.32 + tax
2009 Nissan Altima 2.5 S with Convenience Package
MSRP = $23,595
selling price = $21,696,
39 months,
12k per year
Residual value is 59% or $13,921.05
money factor 0.001580 = 3.7%
$287.41 + Tax
How do these deals look? Thanks in advance.
I was wondering what I should expect to pay for a 2009 Nissan Altima 2.5 S CVT (sedan) with an MSRP of $22,545 and a selling price of $18,936.
I need 15k miles a year, and either a 36 or 39 month lease since I know the 24 month Nissan leases are out of the question.
Thanks
$319/mo, first month only down
39 mo/12k per yr.
But what is the current status on these disp fees, etc.?
Thanks, Car_man.
My 24 month 2007 Altima lease is up in March (15k miles per year). I have the 4dr SL with convenience package. I love this car and am considering going into another lease but I want to lower my payments which are currently $307 per month through NMAC.
What do I do when I'm at the end of a lease? I'm willing to go into a 36 or 39 month lease if it makes my payments lower and I'd love to do this with no money down. I don't know how to/never have negotiated before.
I'm in the Buffalo, NY area if this helps.
Thanks in advance!
2009 Altima S Sedan w/ SL, CVT, both convenience packages, connection package, splashguards, and carpet/trunk mats. MSRP = $27,395 including delivery/destination charges. Invoice = $25,398. Navy blue w/ blonde leather.
The final deal we took was from Dick Smith Nissan in Columbia, SC...which is 241 miles from our house. They started at $25,999 but quickly dropped that to $24,999 ($399 under invoice) as they knew I was looking at a lot of other dealers. Their fees were low compared to other dealers in the NC/SC area: $288 for doc plus $51 for SC temp tag/title fees. BUT because I live in NC, I would have to cover the NC inspection and NC tag fees (I think dealerships closer to the state line do this all the time but since they are in central SC, it was a new thing for them), which will total $98 (for new tags) or $85 (if I switch the tag from my soon-to-be off-lease Maxima).
Then things got really interesting. We really wanted fog lights and a moon roof wind deflector added to the car. We really wanted fog lights since we live in a coastal area, many foggy mornings around here. MRWD was easy. BUT the add-on Nissan fog lights were a trouble. I had two other dealers quote $580 to $630 to have them installed.
The net is that the GM at Dick Smith Nissan added $489 into the lease price to cover the fog lights and MRWD. BUT he also cut his doc/SC temp tag fees from $339 total to ...FIVE DOLLARS. I was amazed.
So the paperwork shows that the sales price is $25,488, but we paid just $5 in fees to the dealership, so I think I came out ahead. The $595 acquisition fee is buried in the lease. I will still have to personally pay $30 to have the car NC safety/emissions tested and probably $55 for title/tag transfer fees to NC.
Amazingly they delivered the car as part of the deal on a flat bed car-hauler to my house (241 miles each way!). And even more amazingly, they did so with no up-front credit card or any other payment, just took some info over the phone and got my NMAC pre-approval numbers. The car was delivered last night, 65 miles on the odometer, full tank of gas, 30 day temp tag in place, dealer decals removed, all manuals included, 2 key fobs, fog lights and MRWD installed, clean and perfect. Wrote the delivery driver a check for $350 (first payment and $5 in fees), signed some paperwork, and I have a new Altima in my driveway.
Payment is $345.17, which is $335.13 for the lease and $10.04 in NC tax. 36 month lease, 12,000 miles/year. Money factor = .00158, Residual = 60%.
Some will critique us for doing a lease instead of taking the $1500 rebate and buying. But around here with the salt air, vehicles just do not last...so the 3-year lease all within warranty is a good way to go. And I took this lease 3 weeks before my Maxima comes off-lease. I was concerned that the February incentives would be worse (especially the residuals, seems like thry go down as we get closer to the new model year), but who knows what Nissan and NMAC will offer in February? So we went for it, this will make us way under-milegae for the first month in the Altima.
I was very pleased with the whole experience. I did have two other dealerships that seemed to want to deal: Pinehurst Nissan had the very best pricing (typically $600-$750 under invoice) that I could find, and seemed to want to really deal (said they would make my last Maxima payment!). But they did not have a car in the color we wanted (red or blue w/ blonde leather), and they sometimes would "forget" things they had committed to me. They did have a black/blonde 2009 Altima w/ technology package that had factory fog lights, and if they held up to what they said they would do it would only have been about $5 a month more than the blue Altima we leased in an equivalent deal, with reduced fees to "make my last Maxima payment". But our 2007 Maxima SE is black and we wanted a change. Plus w/ the technology package the silver CD changer looks like an ugly afterthought centered in the woodgrain on the console. Looks better with the silver trim, which you get w/ the charcoal seats (but those are too hot in the summer).
Also Deacon Jones Nissan in Goldsboro was very willing to deal, $500 under invoice. We were set on a red one there ($1500 total up-front, $309 a month...nets out to about $342 a month total) but fog lights killed the deal, they said it would add about another $17 a month. They wanted $630 to install them and their $499!! doc fee was outrageous. They said they were "all-in" but once we had the deal on the blue one they offered to match the deal, and increase the monthly payment by just $4. But they were good to work with.
I want to thank all the contributors (especially Car_man) for the help on this forum. And advice: The color combos we wanted were very rare, I searched the Nissan site for inventory at every dealer within 300 miles and there were just 4 red or blue w/ blonde leather and at least both convenience and connection packages. Dealers were much more interested in dealing for their on-the-lot stock. My advice is, use the web to find the dealers that have your exact color/option combos, and play those dealers against each other. They will all ask "when are you going to come in"...just insist that you are going to do this by phone and email (mainly email). And they just about ALL said they would deliver.
Would you happen to have the current NMAC residual and money factors for a 24 month lease on a 2.5S, 15k miles per year? TIA!!
Car is 2009 Altima SL with con, con plus, connection packages
39 months
MF: .00158
0 down
Monthly payment: $342.69 (inc tax)
Residual: $15,890
Total Cap Cost: 26,268
Questions: Seems they are calculating the depreciation as MSRP minus residual. Is this correct or should it be Total Cap Cost minus residual?
Also, is the Money Factor good? It seems a bit high. Can I negotiate that?
Can I use the $500 wear and tear for my current lease to go toward the new one since I have no additional wear and tear? Is there any other loyalty for trading in my infiniti???
Overall is this a good lease?
Everyone is saying the $1500 rebate is not applicable on leases. Is this true or another line they are feeding me?
THANKS SO MUCH for your help!
I just leased a new Altima, turning in a Maxima on lease. I can answer some of your questions:
1) The $500 will not go to a new NMAC lease.
2) The $1500 rebate will not apply to a new NMAC lease.
3) The .00158 money factor is consistent. That equates to 3.79% interest, not too bad.
4) There are a number of lease calculators online. Use one to check the dealership's numbers. I like http://www.leaseguide.com/calc.htm
It is hard to tell if it is a good deal. Is your $595 acquisition fee paid up front or buried in the lease? What doc/tag fees are you paying up-front, if any? What is the tax rate in your state and are they paid up-front or as you go? What is the MSRP of the car, what is the invoice (edmunds.com will calculate it for you) and what is the sales price?
I was told by NMAC that there were no added loyalty incentives but IF there were any the dealer would communicate them to me. Based upon my experiences, here in NC/SC the dealers were at best about $650 under invoice on a similar car without the rebate. Seems like in the northeast the prices are significantly lower.
Just one note NMAC just this year started another fee, a $395 disposition fee at lease-end.
Good Luck.
I just got off the phone with another dealership, they can do $330 flat per month (including taxes). Same 39 months. First months payment to drive off the lot with it. A bit better.....
Thank you so much for your help! This is my first visit to this site and reading the exchanges between you and the folk are very helpful...Again, Thank You.