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Nissan Altima Lease Questions

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  • Good evening! I have been quoted a lease price of $325 f/39 mos on a 2007 3.5 SE (automatic) base model, no extras. That quote is including a $3000 down payment. Is this a good deal? They originally quoted me $389. After reading some posts, it just seems like a lot of people are getting payments just a little higher with much less down.... I am new to both buying/leasing - please help! S. Dozier
  • tictac3tictac3 Posts: 78
    Way too high! I was quoted last night $402/mo for an SE 3.5 w/ cvt, sport pkg, mats, flaps and emergency kit. The lease is for 36 months and 15k miles per year. Quote includes PA 9% tax. NO MONEY UP FRONT!! Same lease for 48 months is $353/mo. I live in suburban Philly area
  • dotsyncdotsync Posts: 19
    do you have the msrp and selling price of the vehicle? also, fees, money factor, and residual would be helpful.

    thanks!
    nick
  • lili1lili1 Posts: 44
    read my reply in the other topic/thread.
  • Carman,
    I'm trying to run the numbers for a 2007 altima lease. Can you provide me with the missing data below (indicated by "??")? I'm trying to identify which trim and miles/yr is the best deal right now. thx

    2.5 S 3.5 SE 3.5 SL
    MF ?? 0.00259 0.00259
    10,000 ?? ?? ??
    12,000 ?? ?? ??
    15,000 ?? 58% 60%
  • dotsyncdotsync Posts: 19
    Putting all the info you gave me into a lease calculator (http://www.leaseguide.com/calc.htm), I am coming up with a $353.40/mo lease payment.

    MSRP: 26855
    NEG PRICE: 24738 ($1 over invoice, source: carsdirect.com)
    MF: 0.00224
    RES: 16382 (61% msrp)
    ACQ, DMV, and 1ST PMT due at signing (about $1000)
    $0 down

    I would go over your numbers with a fine tooth comb. The MF seems lower than what Nissan is currently offering (i'm currently confirming this) and they may be inflating the disclosed invoice. Use the url to the lease calculator I gave you and download the lease spreadsheet off of carbuyingtips.com (http://www.carbuyingtips.com/regm.xls). Fill in all your info and bring it to the stealership. If you can, bring it in on a laptop and plug in the numbers with them. If they start saying your software is off, walk away from the deal. That spreadsheet is extremely accurate and is based on the Federal Consumer Leasing Act.

    Good luck and hopefully and you knock down that payment a few dollars.

    Cheers!
    Nick

    EDIT: Re-reading your thread, i'm assuming you rolled the ACQ, DMV, and 1ST MO PMT. Rolling this ~$1000 should yield you with a pmt of about $386.12. Still, you should see what you can do to lower that payment. Maybe they are quoting you 1% over invoice instead of $1 and charging you more for DMV fees than their cost. Here in NY dealer cost for DMV is about $141, i'm unsure of what PA is but look into it. Your leasing tax structure in PA may be different as well. The best thing to do is just make sure all the numbers are disclosed and run them yourself to make sure you are getting the actual deal they are quoting.
  • I am trying to lease a 2007 Altima SL with navigation. I visited one dealer and they quoted me $599 per month with $2,100 in fees and cap costs reduction. Of course I walked away from this deal. I was told by the dealer however, that the dealers are selling at full sticker and not discounting or offering aggressive leases. I have a current quote for $505 per month for an Acura TL w/nav (3yrs/15k per year). I really like the Altima but would not pay more than a TL for it. Has anyone rec'd a quote for an SL with nav?
  • dotsyncdotsync Posts: 19
    Do you have the MSRP of the said vehicle? Also, money factor, residual, and fees would help.

    To get the best deal, just tell them you are not willing to pay more than invoice for the vehicle. Come in armed with all the current lease rates and figures (Money Factors, Residuals, fees, etc). Once I get them from Tarry at Lease Compare, I will post them. If Car_Man knows them, he will probably post them as well. Once you have these figures, lay it out for the dealership. Invoice + Fees @ current rates and you have a deal. Work the numbers yourself. If they don't take it, move on to the next dealer. Don't be mean, just lay it out real clean and easy. If they play the old "we arent making any money with this deal" remind them that they make holdback and assure them you are not trying to have them lose money.

    And for leasing, try working a deal with no cap reduction. Then once your numbers look good, you can put down some money to bring the payment lower. Always work the numbers yourself first before making or taking an offer. Read carbuyingtips.com for some good leasing strategies.

    Good Luck!
    - Nick

    PS... have you looked at the 2007 Accord lease promos right now? I am so tempted to grab one BUT they are pretty hard customize with an aftermarket sound system. If this isn't an issue for you, you can get a fully loaded Accord for under $400/mo on a 36mo/15k lease, no money out of pocket.
  • jrubjrub Posts: 12
    IT was down to the Accord EX-L and the 3.5 SE for me. THe honda people, on December 30th quoted me 367 w/just first month down on a 36 month 15k lease. VEry tempting but I liked the HP in the SE to much to pass it up
  • tictac3tictac3 Posts: 78
    Dot:
    Thanks for the info; BUT, your number has me paying $1000 at inception. My deal rolls all costs into the lease.
  • dotsyncdotsync Posts: 19
    read the edit... i was confused as to what you were rolling and what you were paying at signing.

    cheers,
    nick
  • lili1lili1 Posts: 44
    What is site to get invoice price on the 07 Altima priced out based on option and packages I choose.

    For example:
    3.5SE, manual, leather package, VDC, splash guard.
  • kyfdxkyfdx Posts: 66,849

    MODERATOR

    Prices Paid, Lease Questions, SUVs

  • lili1lili1 Posts: 44
    What is the current residue value % and the Nissan money factor for the 3.5 SE?

    How about the 3.5 SL?
  • Hi es_car3. Here is 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 2007 Nissan Altima 2.5S with 12,000 miles per year are .00243 and 61%, respectively. The numbers for an otherwise identical 39 month lease of this car are .00259 and 60%. NMAC's current 36 month, 12k numbers for the 2007 Altima 2.5SL are .00243 and 58%. Its 39 month numbers are .00259 and 57%.

    Car_man
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  • Hey es_car3, NMAC's buy rate lease money factor and residual value for 36 month month lease of a 2007 Altima 3.5 SE with 12,000 miles per year are .00243 and 60%, respectively. Its 39 month, 12k numbers are .00259 and interestingly 59%.

    Car_man
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  • Hi dotsync. Nissan is currently providing $500 lease cash on the 2006 Altima. So the selling price that you were quoted for this car is around $750 over invoice. I have seen better prices than this, but if you are having this car transported a long distance from another dealer it is going to cost you. The money factor that you were quoted looks about right to me. This car's new January lease program for the parameters that you are interested in are .00016 and 52%. This looks like a pretty good deal to me, but you might be able to save yourself a few hundred dollars by finding a local car that wouldn't have to be swapped for and shipped.

    Car_man
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  • Hello Benito. 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.

    Car_man
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  • Hi enkur. A base 2007 Nissan Altima 3.5 SL has a spread of a little over $2,100 between its full MSRP and its dealer invoice price. You were quoted a discount of $2,210 on the specific car that you are interested in. This looks to be right around dealer invoice, which is a great deal on this car. Just make sure that the dealer you are working with is using this car's buy rate lease money factor to calculate its monthly payment and you're in business. Its January buy rate lease money factor and residual value for a 36 month lease through NMAC with 12,000 miles per year are .00243 and 58%, respectively. Nissan's lease program on this car just isn't that great right now.

    Car_man
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  • Hi stompman76. So you were quoted a selling price that's $1,967 over dealer invoice. I think that you should be able to do better than that on this car right now. Try stopping by the following discussion to see how much other community members have paid for similar cars lately: "Nissan Altima: Prices Paid & Buying Experience". As far as this car's lease program goes, NMAC's January buy rate lease money factor and residual value for a 36 month lease of a 2007 Altima 3.5 SE with 12,000 miles per year are .00243 and 60%, respectively. Make sure that this is the lease program that's used to calculate your car's monthly payment.

    Car_man
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  • Hi stompman76. Dealer invoice is a good price for a 2007 Nissan Altima. Just make sure that the dealer that you are working with uses Nissan's January buy rate lease money factor and residual value of .00259 and 59% to calculate your car's monthly payment and you're in business.

    Car_man
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  • Welcome liv4gzus. Since you are not completely familiar with exactly how leasing works, 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.

    You never mentioned the selling price of the Altima 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 the selling price is.

    Car_man
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  • Hi jrub. You really need to find out what this car's selling price is. the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you negotiate a selling price that is as close to dealer invoice as possible and then have the dealer that you are working with calculate your car's monthly payment using NMAC's 39 month lease money factor of .00259 you will pretty much assure yourself of getting the best possible deal on your new Altima.

    Car_man
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  • Here's the information that you're looking for, Jeff. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5 SL with 12,000 miles per year are .00243 and 58%, respectively. The numbers for an otherwise identical 39 month lease are .00259 and 57%.

    Car_man
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    Prices Paid Forum
  • Hello petesamprs. Here is the data that you're missing. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Nissan Altima 2.5S with 15,000 miles per year are .00259 and 59%, respectively. The numbers for an otherwise identical lease of a 2007 Altima 3.5 SE are .00259 and 58%. Lastly, the numbers for an otherwise identical lease of a 2007 Altima 3.5 SL are .00259 and 56%. If you were to lease any of these cars with only 12,000 miles per year, their residual values would be 1% higher. You'll have to ask your dealer to find out for certain, but I don't believe that NMAC offers leases with only 10,000 miles per year.

    Car_man
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  • Hi lili1. Nissan's lease program for these cars vary depending upon how long you lease them for and their mileage allowances. 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 2007 Nissan Altima 3.5 SE with 15,000 miles per year are .00243 and 59%, respectively. The numbers for an otherwise identical lease of a 2007 Altima 3.5 SL are .00243 and 57%.

    Car_man
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    Prices Paid Forum
  • jenp123jenp123 Posts: 39
    Hi,

    After much researching and talking to some sleezy salespeople, I finally found a deal worth noting. For a '07 Altima 3.5SL with Tech PKG, Sun Roof Deflector, Floor and Trunk Mats, and Splash Guards (Freight Included) would be $28,915) This is below invoice. This is from the Herb Gordan Nissan in Silver Spring MD.

    For Leasing rates, they could be better but with $0 down it would be $503 a month. I would have to put down $4700 a mo. to get around my target monthly rate of $350. Does this seem like a fairly resonable deal. At the moment, the lease rates posted for Nissan are through the end of Feb. so nothing major will be having for the Presidents Day Sale. What do you all think- should I go for it- the $4700 would cover everything, first payment and all associated fees).
  • jenp123jenp123 Posts: 39
    For a '07 3.5 SL, do these figures make a world of difference in monthly costs? Right now, I am being quoted on a 36 mo, 12k miles. Not sure if it will make that much of a difference if I go lower in my terms.
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