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Nissan Altima Lease Questions



  • zheka212zheka212 Posts: 63
    Looks like I'll have to answer my own question.
    Got the following offer on the table:

    Altima S w/Special Edition Package

    36 Month Lease
    12,000 miles included per year
    $0 Security Deposit
    $0 Down (Cap Cost Reduction)

    Due at signing:

    1st Payment $245.55* (35 payments would remain)
    Title Fee $ 31.00
    License Fee $ 12.00
    GA MVWRA $ 3.00 (Lemon Law Funding)

    MSRP $21,155
    Selling Price $19,037 (Cap Cost)
    Residual 0.55 ($11,635.25)
    Money Factor .79
    Admin Fee $550 (Bank Fee)
    Disposition Fee N/A
    Excess Miles $00.15 per mile

    The money factor should be 0.00064, not .00079, but I'm going to attribute that to the fact that no security deposit is taken.

    The invoice price for this car (on Edmunds) looks to be $20,034 -- how the heck are they selling me the car at $19,037? TMV is listed at $18,284, but that includes the rebate. Does this mean the $1,750 incentive apply to leases this month, and I have another $700 to negotiate down? Or is there lease cash similar to last month (that was only $500, and I seem to be getting $997 off invoice). Any info is appreciated. This seems like a good deal at first glance -- I just want to make sure there isn't more then meets the eye under the surface.
  • worrworr Posts: 45
    The 1750 does not apply to the lease. The $500 college bonus can, however. Then there is the $500 bonus for lease besides that.
  • qbrozenqbrozen Posts: 24,339
    I just checked the VPP pricing page and it says there is $750 lease cash on the Altima this month.

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • marys236marys236 Posts: 78
    Sorry to ask a dumb question, but what is the VPP pricing page?
  • qbrozenqbrozen Posts: 24,339
    that's not a dumb question at all. Sorry, I should have explained. VPP is the Nissan preferred pricing website. Its for employees of Nissan and employees of companies that have a relationship with Nissan (i'm in the latter group). In any case, I used that page because it conveniently lists all the current rebates in one place that are available to the public (not just VPP beneficiaries).

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • zheka212zheka212 Posts: 63
    Ok, just an update in case someone tries to lease one during the Weekend.

    Lease signed as :

    36 mo/36 k
    Altima S w/ Special Edition Package

    Total monthly payment -- $250 (Including 7% sales tax)
    Total paid at signing -- $296 (first payment + $46 in reg. fees).

    Too lazy to work out the math since I haven't actually seen the lease (car was not for me). Thanks for the $750 lease cash tip. Even with that works out to a better deal then is advertised on the Nissan web page. They rolled the aquisition fee into the lease -- with the current MF it only makes sence.

    Good luck and thanks!
  • can anyone tell me what i should be paying to lease the altima 2.5 s (with sl pkg) with 36months/12k miles $0 down and with the 6% sales tax rolled in???

    msrp*25,455 and selling price*22,286

    thanks alot
  • freakafreaka Posts: 2
    I just got back from a dealer that was offering me a lease of $430 per month with $1000 down. Going buy the numbers I have seen here, that seems rediculously high. I am trading in a GMC Envoy that they claim to be paying off but I'm guessing the price is based on them actually rolling on a cost of the envoy , onto the altima.

    Can anyone give me realistic numbers I should expect to pay for the altima lease at this moment?

    I'm looking for a lease term of 39 months, 20k miles per year for a loaded altima, 3.5, leather, abs..etc.

  • futuredocfuturedoc Posts: 2
    Hi all, newbie here...been lurking around the forums for a while. Great stuff!

    So here's the deal offered:

    06 Altima 2.5S
    42 Month Lease
    10,000 miles per year
    $0 Security Deposit
    approx. $3500, which includes taxes, down.
    Monthly payments at $79.

    Figuring the down into monthly costs it comes out to about $165/month. Is this too good, when the Accord goes for $270 and civic for $230?
  • qbrozenqbrozen Posts: 24,339
    actually, Accord's current program is $199/mo. (LX automatic) for 36 months, with $1999 due at signing, and 12k miles per year.

    So the Altima lease you're looking at is for less miles, a longer term, and more down.

    Is that a stick or auto? Is $79 the bottom line? Or is that sans taxes (i know you mentioned taxes in the money down, but just want to confirm).

    Regardless, if you want to drive a car for cheap for 3.5 years and you only drive 10k miles per year or less, its certainly a decent deal.

    I've seen print ads similar to this deal for at least a few months in the sunday paper. But I think that included a rebate or 2 that i didn't qualify for, plus I was looking to put nothing down.

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • futuredocfuturedoc Posts: 2
    270 for the Accord LX is including the downpayment. And yea, I won't drive 10k. $79 is for auto without taxes. I included the taxes in the down.

    I'm looking in terms of per month price. And in that view, the Altima is nearly $100 cheaper. I thought it was 'too good' of a deal to be true. I guess they just overstocked?
  • qbrozenqbrozen Posts: 24,339
    well, sure, its cheap. i agree.

    I wonder how it would compare in similar terms, though.

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • Hi christina271. According to my calculations, if you were to lease a 2006 Nissan Altima 2.5 SL with an MSRP of $25,455 and a selling price of $22,286 through Nissan Motor Acceptance Corp. right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $254.

    Prices Paid Forums
  • Hello freaka. Consumers who are upside down on vehicles that they want to trade in are never able to get out of them for free. The dealer that you are leasing your new Altima from will have to use some of the profit from your new deal to get you out of your Envoy. This will hamper your ability to get the lowest possible monthly payment on your new car. I would be happy to give you an idea of what a lease on the car that you are interested in should cost without taking your trade into account if you provide me with its full MSRP and approximate selling price.

    Prices Paid Forums
  • factorcofactorco Posts: 3
    Altima 3.5 SL

    I live in Colorado. I think the local dealer is high-balling me. What should be my monthly costs, cap cost, money factor and residual for a 2006 Altima 3.5 SL, no special add-ons, 36 month, 15,000 miles per year, one-month up-front only, with tax rolled into deal.

  • hgershmanhgershman Posts: 15
    I'd really appreciate the Altima 3.5 SE Lease Numbers for July...also the status of rebates/incentives. Is the $1750 still in play for people buying? What about the $750 "lease cash? Thanks.
  • hgershmanhgershman Posts: 15
    Just came from local dealer.Please tell me if 54.9% RV and .00045 money factor sounds right for July...I know the MSRP w/my options and the cap cost were WAY OFF but I thought I'd get ALL my figures straight before going somewhere else. Thanks.
  • hi there,

    i have a 2003 altima sl with approx $26k miles on it. i pay $360/mo on a 62 mo loan w/ 0.9% apr. i'm half way thru the loan. that being said, i would like to get my monthly pymts down around $250 or so.

    the car i would trade in for optimally would be a 2006 altima s w/se pkg (should have most/all of the features that i want off my sl). i would lease it for say 39/mos. i don't have any numbers except what is currently on the nissan site.

    how do i negotiate a lease offer? do i negotiate the price as though i were trying to buy and then take that number to use for the lease? do i tell them im trading in upfront? how do i negotiate the trade?

    as you see i have many questions. when i purchased the altima it was my first time and i almost threw up while signing the documents. so this is a stressful experience for me to say the least. any feedback is appreciated.

  • I have been quoted a lease price on a Nissan Altima 3.5SL of 342.00 per month 39 month zero money down sign and drive. Taxes are included. I was not quoted a residual price. 15k miles per year. Options are Floor Mats an Mud guards only. Doe this sound like a resonable Quote?? Any help? new to this.
  • In December I leased a 2006 Nissan Altima and from week 2 I have hated this car. I had it on but the membership ran out. Does anyone know how I can get out of this lease?
  • qbrozenqbrozen Posts: 24,339
    why do you hate it?

    you can always trade it ... with enough money, you can do alot of things.

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • I've got money but dont want to waste anymore on this car. It was an attempt to reduce my bills and I thought I would get used to the downgrade turns out no.
  • qbrozenqbrozen Posts: 24,339
    out of curiosity, what did you downgrade from?

    Trading any car this quick means you take a big hit in the wallet. Vehicles depreciate the fastest when they are new.

    Again, with enough money, you can do anything you want, but its a matter of whether its worth it. Unless you put a good amount down, odds are you have negative equity in the car. so you'd need to consider how it will affect you to roll that into your next car.

    You also have to be careful that you don't get into a cycle of hating your cars and trading them too soon. You need to figure out what you can do to make sure you don't buy another car "just to get out of the altima" and then wind up hating that just weeks later.

    I can kind of feel your pain. I was also looking at the Altima in terms of downgrading and lowering my bills. I ultimately went with the Accord and am still satisfied with my decision after 2 months.

    '17 F150 Crew 2.7; '67 Coronet R/T; '14 Town&Country Limited; '09 LR2 HSE. 44-car history and counting!

  • Hi factorco. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2006 Nissan Altima 3.5 SL with 15,000 miles per year are .00045 and 53%, respectively. When negotiating your lease on this car, keep in mind that Nissan is currently providing $500 lease cash on all models and an additional $1,000 bonus cash on select models. this cash will help you to negotiate an attractive capitalized cost. If you are in an area that has a decent level of competition, I suspect that you should be able to get the Altima that you want for a couple hundred dollars over invoice before the deduction of any available incentives. Make sure to stop by the following discussion for additional feedback on how much you should pay for this car right now: "Nissan Altima: Prices Paid & Buying Experience". Once you have an idea of how much you should pay, tell me this car's full MSRP and approximate selling price and I will be happy to estimate what its monthly payment should be for you.

    Prices Paid Forum
  • danr6danr6 Posts: 1
    Wife and I are looking at a 2006 loaded SL doing a 36month lease with 20k miles in Minnesota. So far we've heard around $400 out the door. Is that a good deal? What is the normal residual on a loaded 3.5SL? If your credit score is over 700 what is your money factor? If this is not a good deal what type of numbers should I approach the dealer with? Thank you!
  • Actual sale price on the car was around 22,000. Today, I got a lease deal with 2000 down and 230 + tax monthly payment for 3 years, 36000 miles. I got the sunroof as well.

    Can anybody tell me if it's a good deal? This is the first time I'm leasing but I really wanted the leather seats and bose audio for that price. The dealer wouldn't budge at all. I couldn't help but wondering if I got a good deal.

    Please let me know. Car Man?

  • Hi hgershman. This car's lease program varies depending upon how long you lease it for and how many miles per year you are allowed to drive it. 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 2006 Altima 3.5 SE with 15,000 miles per year are .00045 and 53%, respectively. Nissan is currently providing $1,750 customer cash for '06 Altimas that are paid for with cash or financed through an independent bank. On leases its cash incentive is $500. Nissan is also providing an additional $1,000 bonus cash on select models.

    Prices Paid Forum
  • Hello mocachina113. As you thought, you should negotiate the selling price of the vehicle that you want to lease just as if you were paying cash for or financing it. The only difference between negotiating the selling price of a leased vehicle and one that you are paying cash for or financing will be the cash incentives that are available on it.

    There's nothing wrong with telling the dealer that you are working with that you want to trade in your current vehicle at the beginning of your negotiations. It is a good idea to treat your trade and your new lease as two separate transactions. Negotiate the best possible deal that you can on your lease and then see how much the dealer is willing to give you for your trade. If you have equity in your trade have the dealer cut you a check for it rather than use the proceeds as a capitalized cost reduction for your lease. I always advise community members against making down payments on leased vehicles because if their vehicle is totaled in an accident or stolen and never recovered, their down payment essentially disappears.

    Good luck and let me know if you have any other questions.

    Prices Paid Forum
  • Welcome teddyteddy. You never mentioned the selling price or MSRP of the car that you are interested in leasing. 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 this car's selling price 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. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Prices Paid Forum
  • Hi danr6. You never mentioned the MSRP or approximate selling price of the car that you are interested in. These are two very important number to know when leasing. You should be able to get an idea of how much you should pay for this car right now by visiting the following section of this site: "Nissan Altima: Prices Paid & Buying Experience". If you aren't able to figure out an approximate selling price for this car by looking there, just look up its MSRP and dealer invoice price in the following section of this site and I'll give you a general idea of how much you should pay: - New Vehicle Pricing.

    As far as this car's lease program goes, Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2006 Altima 3.5 SL with 15,000 miles per year are .00045 and 53%, respectively. 15,000 miles per year is the highest mileage allowance that NMAC publishes residual values for. If you need to drive more than this you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than to wait until lease-end and have to pay an excess mileage penalty.

    Prices Paid Forum
This discussion has been closed.