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Nissan Altima Lease Questions

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    jleroyjleroy Member Posts: 3
    Hey I called a couple of place to compare a deal so far the lowest I got was 39 month lease on an Altima 2.5sl with connection package 329t that includes tax plus my trade which they gave me 800 and nothing else?
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    everlastingeverlasting Member Posts: 3
    2009 Altima 2.5S with convenience pkg, floor mats, splash guards, aluminum kick plates – msrp 23,765.00. For 39 month lease with 12,000 miles/year paid 1,100.00 at signing (includes first month 244.52, acquisition fee 595.00, NJ taxes 724.00, 294.00 title and 4 year registration, minus 750.00 rebate) – 38 remaining monthly payments of 244.52. The 2 dealers closest to my home would not match the deal and wanted at least 10.00 a month more so I traveled extra 20 miles to save the few dollars.
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    lonaldlonald Member Posts: 6
    I am heading to a dealer right nwo in NY, for an 08 Ultima. It has it in leather, sunroof, everything minus the navi and blue tooth. and 12,000 a year.
    I am registering in NY, i got it for 290.00 a month 0down sign an drive.
    sound good?
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    ral2167ral2167 Member Posts: 791
    $290 a month? what was the msrp on the car?
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    jleroyjleroy Member Posts: 3
    Hello I think I got a pretty good deal I called a couple of places and this was the lowest I got. Could someone take a look and tell me if this sounds good any input would be helpful? It is a 09 Nissan Altima 2.5SL with a connection package.
    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)
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    kopchikckopchikc Member Posts: 36
    It was the last day of the year, so I decided to e-mail a dealer and see if I could get a good deal. I found an '08 SL with no other options on it, via the Nissan web site. MSRP was $25,790. I found out after the dealership replied, that while the money factor is awesome, they have reduced the residual to 55% on '08 models. This effectively counteracts the interest savings. Here is what I was quoted in North Carolina, which I passed on:

    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?
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    clasysclasys Member Posts: 30
    Back in June I got 08 Altima 2.5SL with Connection package, 39 months, 12K for $309 / month, tax included, with $590 total out of pocket. Your numbers are almost identical, it sounds like excellent deal to me. Hope this helps.
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    jleroyjleroy Member Posts: 3
    yes it does I appreciate your help I needed someones outside opinion on the figures. I think Im go ahead and do it.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rbcooper. Not necessarily. 39 month leases actually often provide lower monthly payments than 36 month ones do, even with residual values that are slightly lower, because they provide three extra months to spread out the massive initial depreciation hit that cars and trucks experience out over. I personally have leased a number of vehicles for 39 month for that very reason.

    Car_man
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    ral2167ral2167 Member Posts: 791
    I wonder if it's best to time your lease to expire at the end of the calendar year..since that seems to be when the best deals are. My lease expires in June-- kinda wish it expired last month. I wonder if some of the same deals I read about recently will still be available in June.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ral2167. You're right, the end of the year generally seems to be an excellent time to lease a new vehicle. This year was especially so because the demand for new vehicles unexpectedly fell off of a cliff leaving most automakers with a tremendous amount of excess inventory. The deals may be solid again next December, but possibly not to the extent that they were this year.

    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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    cmyawncmyawn Member Posts: 51
    Hello,

    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
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    cmyawncmyawn Member Posts: 51
    Hello,

    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
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    careyd1careyd1 Member Posts: 15
    I agree car_man. The deal on Altima's is $750 sweeter now than it was when I leased mine on 10/31/08. Having said that, specifically to Nissan (and Toyota/Honda let's say...), frankly I'm surprised the deals (manufacturer incentives) haven't gotten even more aggressive, as sales volume overall have dropped by about 60-70% due to the economy, from a few dealers I spoke to. A lot of the dealers are relying on their service revenue to keep them afloat but that's starting to trend downward too, and they're running specials to get people in for service. It's a rough times for everyone, but really rough for the dealers.
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    leepoffaithleepoffaith Member Posts: 38
    I'm thinking of leasing an Altima 3.5SE and wanted to know if anyone had the January Residual % and money factor on a 24 and 36 month lease with 12k miles per year? Also, are there any lease incentives out right now? Thanks!
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    cmyawncmyawn Member Posts: 51
    I have not seen any replies to my original post. Based on info from the Nissan site AND info from a local dealer, it appears that the money factor for an Altima 2.5S is .00158, and that the residual for 36 months is 60%, and for 39 months it is 59%. Those figures are for 12000 miles/year. For 15000 miles/year, the residuals are a percentage point less. At least that is what the dealer is telling me. Car_man, can you verify these numbers?

    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
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    cgold79cgold79 Member Posts: 4
    I just spoke to a dealer regarding leasing an Altima 2.5 S. He told me that starting January 6th Nissan has a diposition fee of $395. If that correct?

    Any help is appreciated.

    Thank You,
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    leepoffaithleepoffaith Member Posts: 38
    So, I test drove a 3.5 SE Altima and just love it. It's fast, comfortable and the shifting is just.. wow. Smoother then my old lexus. Anyways, I used this site for help on pricing and figuring out where the dealerships needed to be. I got one of them to send me a Dealer Disclosure Form. I have listed the many fees they have listed below. Keep in mind I live in Floirda. Have any of you seen any of these fees on your documentation and did you fight them?

    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!
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    leepoffaithleepoffaith Member Posts: 38
    Has anyone received any quotes for leasing an Altima 3.5 SE that is under Invoice? I was offered one that was significatly under invoice, but was then told that it included a $1500 rebate that was only valid on purchases. I can get invoice anywhere and I'm quite disappointed no one is offering anything less, especially in these economic times....
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    polyvwpolyvw Member Posts: 55
    can you please post the money factor and residual for a 3.5 SL fully loaded
    36 or 39 months 15k/yr
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    cmyawncmyawn Member Posts: 51
    Just wanted to give a report on the lease-end inspection. The inspector came to my house, was on-time, and did the whole inspection in about 20 minutes. I had a couple of minor issues (minor scratches, a chip out of the paint on the hood) but the damage was minimal and I owe NOTHING to Nissan. He left a print-out of the results.

    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
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    tastecklertasteckler Member Posts: 14
    I am being offered the following deals in GA:

    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.
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    kopchikckopchikc Member Posts: 36
    Seems high to me. $296 is encroaching on 2.5SL territory, so I would expect this car to have Convenience and Convenience Plus at a minimum. Regardless, it is hard for us to help you without knowing the magic four pieces of information: MSRP, Sale Price (negotiated discount), Money Factor, and Residual. Term is also necessary, but you have provided that.
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    photodocphotodoc Member Posts: 1
    Why are you wanting to sell this car after driving for only 2900 miles?
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    jbrooks77jbrooks77 Member Posts: 1
    just got a quote in MN for a 2099 Nissan Altima 2.5 LS

    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???
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Mike. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima 2.5 S Sedan with an automatic transmission and 15,000 miles per year are .00158 and 59%, respectively. If you were to drive only 12,000 miles per year, this car's residual value would be 1% higher.

    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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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Mike. Most manufacturers' captive finance companies are fairly reasonable when evaluating the condition of leased vehicles at the end of their terms. They don't want to be overly picky and nickel and dime lessees to death. Doing so would risk losing their business in the future.

    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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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Automakers only have so much money to provide on incentives. If sales fall dramatically enough, which they have, automakers would rather cut production rather than continue to raise the level of incentives that they are providing. That is exactly what is happening right now. Most manufacturers have begun to cut production dramatically. I personally would not be surprised if the incentives out there don't get any better than what was available in December (the January programs are traditionally less aggressive).

    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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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi leepoffaith. Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima 3.5 SE Sedan with an automatic transmission and 12,000 miles per year are .00158 and 59%, respectively.

    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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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Mike. I just replied to your questions a couple of posts ago. Please check there for my answers. The $750 bonus cash that Nissan introduced on the '09 Altima in December has expired. It is difficult to say whether Nissan will introduce a similar sort of enhancement in January. If I had to make an educated guess, I would say that it won't, but no one knows for certain what automakers will do with their future incentive programs.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Unfortunately, cgold79, what you were told is correct. Nissan and Infiniti just introduced disposition fees on leases through their captive finance companies. This is pretty darn annoying because I HATE disposition fees. I've got a lease coming up next month and I'm going to have to pay one, grumble, grumble, grumble.

    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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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi leepoffaith. Nissan Motor Acceptance Corp. charges a $595 acquisition fee on every vehicle that it leases. All consumers have to pay this charge. You can either pay it at lease signing or roll it into your car's capitalized cost to make it part of your monthly payment.

    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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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, polyvw. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Altima 3.5 SL Sedan with 15,000 miles per year are .00158 and 58%, respectively. The numbers for an otherwise identical 39 month lease are .00158 and 57%.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tasteckler. The best way to evaluate this deal is to look at the selling price that it is based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what this number is in relation to either this car's MSRP or dealer invoice price, it is difficult to tell how good a deal this is. Find out what selling price the dealer us using and let us know. I am sure that either myself or another knowledgeable community member will be happy to give you their opinion of these deals.

    Car_man
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    cmyawncmyawn Member Posts: 51
    Thanks Car_man. My status is that I am discussing this with a number of dealers and the one that is most eager for my business (though 150 miles away) seems a whopping $776 UNDER invoice for a new 2009 2.5S Altima lease for a car with both convenience, connection, SL, CVT, mats, and splashguards. MSRP = $27395. That is for a car in-stock but he SAYS he will get one in the color combo I desire, same deal. He also says he will cut his exorbitant $599 total doc and tags fees to $210 to "make my last Maxima payment". The only other up-front would be my first payment. I have 2 other dealers under invoice by about $200 and $400 as well, for OK color combos they have in-stock, with higher up-front fees. I can tell you I have searched the on-line inventory of about 75 dealers within 300 miles to find the color combos I want, and there are only 5 in-stock that would work. I have found that most dealers are MUCH more eager to deal on in-stock units.

    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.
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    tastecklertasteckler Member Posts: 14
    Car_man,

    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.
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    Newport5003Newport5003 Member Posts: 1
    I'm new to the forums here at edmunds.com... and stumbled across this thread when googling Altima lease prices.

    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 :)
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    lotuspeddlerlotuspeddler Member Posts: 4
    Have a quote from a S.W. Connecticut dealer, seems to be the best so far based on the .00158 MF, 58% resid . for an '09 Altima 2.5 S w/ Convenience and Connection pkgs only:

    $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.
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    mirmmirm Member Posts: 1
    Hi,
    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!
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    cmyawncmyawn Member Posts: 51
    We live just north of Wilmington, NC, and just took delivery last night of our new 2009 Altima. The details:

    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.
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    psychoboypsychoboy Member Posts: 1
    car_man,

    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!!
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    pattyeopattyeo Member Posts: 2
    I have had 5 Altima and for the first time want to buy the residual. In todays time is this ever negotiable? Unfortunately my daughter had accident in car and its being fixed . 8000 in damages. Residual is 11,500 for a 2006 has 43000 miles. I am thinking why would Nissan want this car back with a terrible car fax. Do you think I cna negotiate and who do I do that with? Nissan finance or a dealer?
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    pattyeopattyeo Member Posts: 2
    After reading so many of these posts, I realize that I need to really learn a lot more. Is there anywhere on this site that explains what all the terms mean?
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    blackfx35blackfx35 Member Posts: 6
    I am in desperate need of some help. My current FX35 lease expires tomorrow, and with the loyalty preapproval, I have to lease a new vehicle tomorrow to use the preapproval (which I really want to do). After having discussions with 4 dealerships in my area, this is the best that I have come up with:

    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!
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    cmyawncmyawn Member Posts: 51
    Hello BlackFX35,

    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.
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    blackfx35blackfx35 Member Posts: 6
    Thanks for your response. I am actually in NC (Charlotte). The only out of pocket to drive away with the car is the first month's payment. So I would assume the acquisition fee is buried in the lease.

    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.....
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    ral2167ral2167 Member Posts: 791
    whats the msrp on this car? very curious.
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    pax4pax4 Member Posts: 9
    Car_man,
    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.
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    blackfx35blackfx35 Member Posts: 6
    $27398 was the MSRP.
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    stoopystoopy Member Posts: 105
    I have a lease quote for an '09 Altima 2.5 S with SL Package, Connection Package, Floor Mats. MSRP is $27,260. I was quoted $300 for 36 months with nothing due at signing except first payment. This was a simple one shot email request. Didn't haggle at all. I'm guessing you could easily get it to $290 if you tried.
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