Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Nissan Altima Lease Questions

12467100

Comments

  • rws0131rws0131 Posts: 27
    Car_Man,

    The one dealer told me the residual was 1% lower for the Altima 2.5 SL. Is this true?
  • Yes, rws0131, the '06 Altima 2.5 SL's residual values are 1% lower than the '06 Altima 2.5 S's residual values are.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Carman, thanks so much for all the quotes and information. Thanks to you, I think I got a pretty sweet deal on my new car. I actually purchased it on the last day of 2005...

    2006 Altima 2.5S
    - special ed pkg ($450), alloy wheels ($400), protection pkg($90), mats ($160), splash guards (don't have price handy, about $130 I think)
    - smoke gray w/ charcoal interior, automatic transmission
    - MSRP approx 21,800

    39 mth lease/15k per year/.0009 money factor/56%res value
    1,000 down ($520 as cap cost reduction)/cap cost=20,353 (value of veh: 19,803 + 550 acq fee)

    total monthly payment=$239.51 (inc/ 7% FL tax). I actually had another dealer willing to go down to $237, but I was tired of dealing w/ them. Love the new car so far.

    I thought posting these numbers might help someone in their negotiations and research. Any thoughts or feedback would be greatly appreciated.
  • pfjepfje Posts: 25
    Car_man,

    I am continuing my negotiations and I have received the following lease offer on an 2006 Nissan Altima 3.5SE (24 months/15,000 per year):

    MSRP: $25,820
    Cap cost: $22,576

    The dealer quoted me a price of 368.50 per month pre-tax with $554.08 down payment (I'm not sure what the down payment entails).

    How does this compare with your figures? Thanks for your assistance.
  • mywavemywave Posts: 5
    Hi Car_Man & kyfdx-Can you tell me the residuals and MF for an 06 Altima SL on both a24 and 36 month terms?
  • You're welcome, b22squared. Thank you for taking the time to share the details of your lease with everyone. It looks like you got a good deal. Enjoy your new ride!

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi pfje. According to the latest information that I have seen, if you were to lease a 2006 Nissan Altima 3.5 SE through Nissan Motor Acceptance Corp. right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00099 and 64%, respectively. Using these numbers, an MSRP of $25,820, and a selling price of $22,576, I estimate that this car should have a zero down, pre-tax monthly payment of around $291. As you can see, the payment that you were quoted is definitely too high, especially if you are being asked to make any capitalized cost reduction.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Here you go, mywave. If you were to lease a 2006 Nissan Altima 2.5 SL through NMAC right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00084 and 64%, respectively. The numbers for an otherwise identical 36 month lease should be .00084 and 54%. When negotiating your lease on this car, make sure to take the $500 lease cash that Nissan is currently providing on it into account. This money will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Just about to lease a 2006 Nissan Altima 3.5 SE with an MSRP of 30,069.00. The terms are $2499.00 down, $296 per month for 39 months. 15 thousand miles per year. Do you think this is a good deal. I'm new to this site. Thanks

    RayRayRay
  • pitc2pitc2 Posts: 1
    Any updates to the lease terms this month. I got a quote on an '06 3.5 SE (msrp 30,045)of $341/mo (ex tax). This was based on a cap cost of $28219 and a 56% residual for 39 mos w/ 12k miles/yr. The residual looks the same as last month but the money factor looks to be up rather significantly.
  • tmacasektmacasek Posts: 1
    Car_man,
    I recently decided to get rid of my Trailblazer and go with an Altima. I was wondering if you could help me estimate my payments. I'm looking at a 2.5SL with an MSRP of $26715 and a TMV of $25449. I'm looking for a 36-39 month lease with 12-15000 miles per year. I'm not sure if I should trade in my car, but I need my payments to be around $250 a month. I just want to be prepared before I go into the dealership. Thanks for your help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome RayRayRay. You never mentioned the selling price of the car that you are interested in leasing. This is an important number 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 its selling price is.

    For now, one thing that I can tell you is that you shouldn't make a $2,500 down payment on it. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Altima would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey pitc2. If you were to lease a 2006 Nissan Altima 3.5 SE through Nissan Motor Acceptance Corp. right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00111 and 56%, respectively.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tmacasek. Let's estimate this car's lease payment and see what we come up with. According to my calculations, if you were to lease a 2006 Nissan Altima 2.5 SL with an MSRP of $26,715 and a selling price of $25,449 through NMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $333. The payment for an otherwise identical lease with only 12,000 miles per year would be around $326. This car's 39 month payments would be $321 with 15,000 miles per year and $315 with 12,000. Having said this, I am sure that you can do better than the TMV price that is listed here at Edmunds.com if you shop around. Smart Shoppers who live in areas that have a decent level of competition almost always can. Also, don't forget that Nissan is currently providing $500 lease cash on this car. Make sure to take it into account when negotiating the capitalized cost for your lease.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi! I have never leased a vehicle before. I need to trade in my van that has negative equity and I also want a lower payment. Therefore, I’m considering a lease on the ’06 Altima Special Edition. Here are the details:

    Sticker price: $22434
    Selling price: $19390
    Neg. Equity in my car: $4000

    42 mos., 15,000 mile lease at $358. They said they’re “throwing in” an extended warranty, protection plan (for scratches, stains, etc) and 24 mos. Roadside Assistance.

    So, does this sound like a good deal or not? Again, since I’ve never leased I don’t know what’s a good deal and what isn’t.

    Thanks in advance!
    Jamie
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Jamie. Since you are new to the world of leasing, 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.

    Dealers never "throw in" anything for free. Somewhere in your deal you are paying for the extended warranty that you are bring given. You are better off without one, especially considering the fact that you are leasing. The same goes for the protection plan. Nissan used to provide roadside assistance at no additional charge. If that is still the case that's fine, but don't pay any extra for that either when you can get an AAA membership for practically nothing.

    The selling price that you were quoted for this car is very attractive, but that may be because your dealer is making money off of the aforementioned items they are "throwing in" and they may be marking your car's money factor up. When negotiating your lease on this car, make sure that the dealer is using Nissan Motor Acceptance Corp.'s 42 current buy rate lease money factor of .00125 to calculate your lease payment. If the factor that is being used is any higher than this, the dealer is making additional hidden profit by marking it up.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums


    P.S. You would be better off waiting until you are less upside down on your current vehicle to get something new.
  • neeyoneeyo Posts: 6
    "Hi! I have never leased a vehicle before. I need to trade in my van that has negative equity and I also want a lower payment. Therefore, I’m considering a lease on the ’06 Altima Special Edition. Here are the details:"

    Why are you spending $4k more on any car you purchase or lease by trading your van then? If you want a lower payment, just pay off your current vehicle. Buying a new vehicle is just going to end up costing you much more than the amount you currently owe on your current vehicle.
  • I am preparing to lease a Nissan Altima, and have used this site to educate myself.. and let me thank you for everything I have learned already.

    Can you tell me the currently money factor rates and residule value percentage for a 3.5SL and a 2.5SL?

    Any help would be appreciated,

    Regards,

    RedDog522
  • mnoghostmnoghost Posts: 11
    In south jersey, the nissan dealers only seem to have offers or a deal for the 2.5, which I have NO interest in. I currently own a 2002 mazda millenia which I still owe about roughly $8,000 on. I have the car listed for sale looking to get 14-16,000 for it, weather or not that happens who knows. lets say worst case scenario i get 14 for it. That leaves me with 6,000 towards leasing the altima. Now im hearing everyone say do not put a down payment or put a small one, but the thing that im looking for is a low monthly payment, preferibly 200 or under nothing more then 210.00. Im looking to lease for 3 years with 15,000 miles, according to the nissanusa.com calculator, if i put a 6,500 down as the down payment towards the estimated value of 28,005, my monthly payments would be 216.25, also keep in mind, i would probably be open to buying the car at the end of the lease. so is this a good idea or not?
  • Going back on Thursday, so I could use some help.

    06 nissan altima 3.5 SE
    MSRP=26900
    sell price = 24200
    cap cost including taxes back up to = 26400 (tax is 1700)

    39 month lease
    12k miles p/yr
    money factor = .0021
    Residual will be 14,400 or 51%
    Money down = First months payment

    Lease Price of $387.00

    I feel I'm being quoted a tad much, from what I read here 51% for the residual seems low. Can anyone help with a legit monthly payment I could go back to the dealer with to counter.

    Thank You.
This discussion has been closed.