2013 and earlier Nissan Maxima Lease Questions

CarMan@Edmunds

Hi everyone. Please use the following discussion to post any questions that you have about leasing a Nissan Maxima. Thanks.

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mschiavone

carman,

can you please give me the money factor and residual for a 2006 nissan maxima SL for 36 months, 12k miles in NY?

thanks

CarMan@Edmunds

Hi mschiavone. If you were to lease a 2006 Nissan Maxima SL through Nissan Motor acceptance Corp. right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00205 and 56%, respectively.

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silverfox1

Hi, Looking at similar lease on $32,570 with a discount price of $29120. What would be my payments on 36 months with 12,000 miles per year? Thanks, SilverFox1

CarMan@Edmunds

Hi silverfox1. According to my calculations, if you were to lease a 2006 Nissan Maxima SL with an MSRP of $32,570 and a selling price of $29,120 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 $370.

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silverfox1

Hi,
Thanks for the info. Since posting my note I received a quote from local dealer for $379.28 for a special 39 month lease. Did not jump on it since they would only honor it until end of Oct. Don't like to be pressured. Looks like $370 should be a normal deal according to your post.

CarMan@Edmunds

You're welcome silverfox1. Let me know if you have any other questions.

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andy2812

Hi Carman,

You were very helpful several months back in helping me get my G35x. Now it's almost time for my wife to get another car. Can you please provide me with the money factor and residual for a 2006 Maxima SE w/o Navigation for both 24 & 36 months with 15K miles per year.

Thanks again for your help.

CarMan@Edmunds

Welcome back andy2812. Here's the latest info that you are looking for. If you were to lease a 2006 Nissan Maxima SE through Nissan Motor Acceptance Corp. for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00121 and 64%, respectively. The numbers for an otherwise identical 36 month lease should be .00121 and 55%.

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harveyt

Which car leases out better with comparable equipment.
I am lookng for a 36 month 15,000 mile lease with NO CAP COST REDUCTION!!

Second part, does it ever pay to lease with the plan to buy out the lease at the end.
My reasoning is as follows:
If you buy the car you own it if you like it or not. If you lease and love or hate the car, you have the option to give it back or buy it out.

My plan is to lease the car for 3 years and then purchase it, (if we are in love with the car), for my son who will be 17 in 3 years.

HarveyT

jsb5

I think you were helping me on a Mustang earlier and I appreciate it. I am now looking at a Maxima (for better bad weather handling).

Do you know what the money factor and residual is on a 2006 Maxima SE (six-speed manual) with splash guards and floor mats from Nissan. MSRP is $32,295 and invoice is $29,364.

I am hoping to get it for $29,500, but would like to know the details ASAP. Thanks.

jsb5

andy2812

Carman,

Can you please provide me with the money factor and residual for November for a 2006 Maxima SE w/o Navigation for both 24 & 36 months with 15K miles per year.

Thanks again for your help

CarMan@Edmunds

Hi HarveyT. These cars' lease programs are fairly comparable this month. Nissan's 36 month, 15,000 miles per year buy rate lease money factor and residual value for the 2006 Maxima SL are currently .00161 and 57%, respectively. The numbers for an otherwise identical lease of a 2006 G35 Sedan with 2WD are .00212 and 59%.

Your logic about using a lease as an extended test drive is sound. If you like the car at the end of your lease, you can buy it. One of the best things about a lease is that if you feel as though its lease-end purchase price is too high, or you just don't like it, or your car has had reliability problems or been in an accident you can just walk away from your vehicle at the end of its term.

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CarMan@Edmunds

You're very welcome jsb5. I would be happy to give you an idea of what this car's lease program is currently like. In order for me to do so I need to know how long you want to lease it for an how many miles per year you need to be able to drive it. you never mentioned either of these things in your post, so for now I will assume that we are talking about a 36 month lease with 15,000 miles per year. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 26 month, 15k lease of a 2006 Maxima SE are .00139 and 56%, respectively.

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CarMan@Edmunds

Here you go, andy2812. According to the latest information that I have seen, if you were to lease a 2006 Nissan Maxima 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 .00139 and 66%, respectively. The numbers for an otherwise identical 36 month lease should be .00139 and 56%.

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gidoc

Car Man,

Thanks in advance...

I was hoping for current residual value and money factor on a 36 mo, 12k per year on the SE and SL. Much appreciated.

surfahboy21

Hey Car Man,

I was wondering if I could get the most current money factor and residual value percentage for a 2006 Maxima SE, 12,000 miles a year, on either a 36 or 39 month lease. The MSRP for the exact model I want, in case it makes a difference, is 32,295. Thank you so much.

jpetty

Still waiting on the car to come in from the factory (next week sometime). I put down $250 to secure my name to the car when it comes in. Haven't signed papers yet, but here are the details of the deal we struck.

'06 Maxima SL
Bluetooth system
Splash Guards
Floor mats
MSRP = $31,195
Cap Cost = $28617 (Invoice + $100)
Lease Terms = 36 months/12K miles
Residual = 58%
Money Factor = .00176
Cash Down = $3000
Cap cost reduction (after fees and taxes on CCR) = $1682.44
Pre tax monthly payment = $324.85
After tax (9.1%) monthly payment = $354.41

Thoughts on my deal? I normally hate putting money down on a lease, but I really wanted to keep my payments at $350/month. Obviously I can still back out as I haven't signed any papers, so I'd love to hear feedback on this. I'm also interested in hearing about everyone elses's experience with dealer/NMAC fees and if they were able to negotiate any of them down. Here's the breakdown of why my cap cost reduction was reduced from $3000 to $1682.44.

$3000 : Cash down
- 354.41 : First month payment
- 175.00 : License fee
- 35.00 : Doc fee (basically a dealership filing fee)
- 550.00 : NMAC lease admin fee
- 203.15 : Tax on my down payment
= 1682.44: Actual cap reduction

Thanks!

shepali

carman-
Can you please tell me the December lease specials (MF and residual) for a 24 and 36 month lease with 15,000 mi/yr for a Maxima SE and SL.
Thanks.

bodridis80

The MSRP is about $29K with all the upgrades. We need a 12,000 mile per year - 36 month lease. i'm willing to put down $1,000. What kind of lease payments can I experct?

Thanks so much!!

CarMan@Edmunds

Here you go, gidoc. If you were to lease a 2006 Nissan Maxima SE through Nissan Motor acceptance Corp. right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00139 and 57%, respectively. The numbers for an otherwise identical lease of a 2006 Maxima SL should be .00161 and 57%.

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CarMan@Edmunds

Hi surfahboy21. Please see my previous post for info on this car's 36 month lease program. If you were to lease a 2006 Nissan Maxima SE through NMAC right now for 39 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00213 and 56%, respectively.

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CarMan@Edmunds

Hi jpetty. $100 over invoice is a good price for this car. The money factor that is being used to calculate your lease payment is only slightly higher than NMAC's buy rate money factor of .00161. If you are having your car's security deposit waived, this would explain why. If you are trying to keep your lease payment as low as possible, you would be better off paying a security deposit and using the lower money factor. Besides, you get the deposit back at lease-end, but you never get the extra money that you paid on your monthly payment back.

I wouldn't make the $3,000 down payment on this lease that you are considering if I was in your situation. 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 insurance company pays off the bank that you were leasing it through and 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 Maxima would be exactly the same, regardless of whether you had put $1,600 down, or had made absolutely no down payment at all. You can always keep the money that you would have used as a down payment in the bank and use it to supplement or make some of your lease payments for you.

Overall, this looks like a good deal.

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CarMan@Edmunds

Hey shepali. If you were to lease a 2006 Nissan Maxima SE through NMAC right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00139 and 66%, respectively. The numbers for an otherwise identical 36 month lease should be .00139 and 56%.

If you were to lease a 2006 Nissan Maxima 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 .00161 and 66%, respectively. The numbers for an otherwise identical 36 month lease should be .00161 and 57%.

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CarMan@Edmunds

Greetings bodridis80. 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 work up a sample lease payment on the car that you are interested in for you if you let me know what its selling price is.

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helobabe

I went to Dobbs Nissan and they gave me a quote on a 36 month lease with 12,000 miles a year at 490.00 dollars. I have lease through nissan 3 times in the past and I am just shocked at this price. My current lease is about to expire. It was a 4 year lease ( they stuck it to me last time )and I only have 32500 miles on it. The vehicle I want is 31565 msrp. How can I Keep from getting taken advantage of? Nissan has sent me a coupon waiving the security deposit.
Wlm

CarMan@Edmunds

Hi helobabe. The most important thing to do on the new vehicle that you are interested in is negotiate its selling price. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for them. You may be able to find out how much you should pay for this car right now by visiting the following discussion: KarenS, "Nissan Maxima: Prices Paid & Buying Experience" #, 17 May 2001 7:46 am. Once you know what you want to pay for it, let me know and I will be happy to calculate what your monthly payment on it would be if you were to lease it through Nissan Motor acceptance Corp.

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mywave

Does anyone know if the $1,500 Nissan rebate can be used towards a lease, or even to cover the aquisition costs?

phparekh

I'm getting this offer from the Fleet/internet manager at a Southern California Nissan Dealer:

Getting a low price via a Vendor Vehicle Purchase Program wth Nissan on a 2006 Maxima SL loaded with Driver Preferred package and Nav System. MSRP is $34,240. I'm being offered at $29,532 + $795 Acquisition fee for total of $30,327which is the price after cash back and before taxes.

For a 12k miles, 36 month lease, at a residual of $17,805, the pre tax monthly payment amount is $439.31. The dealer has also agreed to pay 1st month's payment and the 1st year's liscense/registration fees. The "rate" on their lease computer printout is 1.90 which I'm guessing is Money Factor of .0019? Is this a great deal?

Parshad

CarMan@Edmunds

Unfortunately, mywave, the answer to your question is no. The $1,500 customer cash that Nissan is currently providing on the 2006 Maxima is not compatible with its special lease program.

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CarMan@Edmunds

Hi Parshad. I don't know if you have leased your car yet, but if not you might be interested in the fact that Nissan's February lease money factor for the car that you are interested in is much more attractive than the one that you were quoted. If you were to lease a 2006 Nissan Maxima SL through NMAC right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00123 and 56%, respectively. If you were to have your car's security deposit waived, it would increase this factor by .00015. Also, in most states NMAC's base lease acquisition fee is only $550. It appears to me as though the dealer that you are working with may be trying to mark your car's factor up to add additional back-end profit to your deal.

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josiepusscats

Here's what I just got in Northern NJ:

'06 Maxima SE Smoke Grey
Sunroof
Splash Guards
Floor mats
Rear Spoiler
MSRP = $30,000..?
Cap Cost = 0
Lease Terms = 36 months/12K miles
Residual = ?
Money Factor = ?
Cash Down = $1000
Cap cost reduction (after fees and taxes on CCR) = ?
Pre tax monthly payment = ?
After tax monthly payment = $349.00

$1000 : Cash down
- 349.00 : First month payment
- 175.00 : License fee
- 35.00 : Doc fee (basically a dealership filing fee)
- 550.00 : NMAC lease admin fee
- 203.15 : Tax on my down payment
= 0 : Actual cap reduction

$349 for 36 months with $1000 out of pocket.
Works out to Zero for Cap Reduction.
Next time "just say no" and head for the door.
I guarantee they'll chase you out the door with a better offer. You will get a good deal at the end-of-month if you are willing to take one off the lot. They had quite a few to pick from in Butler, NJ.

josiepusscats

jyim

I want to leae a 06 maxima se which cost 29870.00 for 36 months w/2500 down. Asking 309/mo with 15k miles a year. Can you tell me if this is a good deal? Also, should I know anything else? First month payment is included.

dxcoqui

Hi Car_Man,
Could you post the mf and residual for a Maxima SE for 36months/15000 miles. Do you know if we have to pay the acquisition fee or is it waived??. I understand that their leases are very agressive right now.

Thanks,

tiger1414

Hello,
I have negotiated a lease offer for a 2006 Nissan Maxima SE with all except navigation basically. msrp=$34,895
I have not negotiated an end price but they offered a lease payment of $399 for 36 mos, 12,000 mi. Only money down would be licence and title transfer and first month payment, totalling $535. They stated the money factor is .00095 and the residual is 54%. I am at the end of my lease for basically the same car and looking at a new one to lease. Does this look suspicious to you? What am I missing? You help is much appreciated!

Thank you!

dxcoqui

Can anybody post their residual value on a recent lease for 36 months and 15000 miles??? It seems like our good friend Car_man is AWOL. They are offering me 53%, but that is a drop of 3% from last month's residual. Is that possible or are they just trying to make more money???

silver10

Hi Car_MAn,
Trying to follow the forum with regards to a Maxima SL and what a good lease price is. I have not leased before and am trying to understand the residual value and money factor. I know that I want to spend around $350 a month with no money down. Is that being unrealistic?

Appreciate any advice

Thanks in advance,
Silver10

CarMan@Edmunds

Congratulations on your new car, josiepusscats. Thanks for taking the time to share the details of your deal with everyone.

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CarMan@Edmunds

Hi jyim. I'm not sure if the $29,870 price that you mentioned in your post is this car's MSRP or selling price. It would be a big help if you would provide me with both numbers. Once I know them, I'll give you my opinion of this deal. For now I can tell you that 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 Maxima would be exactly the same, regardless of whether you had put $2,500 down, or had made absolutely no down payment at all. If I was leasing this car, I would only pay its first month's payment and security deposit at signing. You can pay NMAC's lease acquisition fee and any required state fees at signing as well if you want, but that is the most that I would pay if I was in your situation.

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CarMan@Edmunds

Here's the information that you are looking for, dxcoqui. If you were to lease a 2006 Nissan Maxima SE through Nissan Motor acceptance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00095 and 53%, respectively. NMAC charges an acquisition fee of $550 on all leases.

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CarMan@Edmunds

Greetings tiger1414. The good news is that the money factor and residual value that you were quoted for this car are right in line with Nissan's current base lease program for it. The bad news is that you never mentioned its selling price. This does not mean that you are getting a bad deal, just that it is difficult to tell what sort of deal you are getting. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. I would be happy to share my thoughts on this deal with you if you let me know what this car's selling price is.

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CarMan@Edmunds

Welcome silver10. 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.

I would be happy to estimate what the monthly payment of the car that you want to lease should be, but in order for me to do so I need some additional information from you first. This info includes this car's full MSRP (with the destination charge added in), its approximate selling price, how long you want to lease it for, and how many miles per year you need to be allowed to drive it.

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jyim

Long Island, NY
The MSRP on 06 Maxima SE vehicle was $28970.00(?).(Floor mats, splash guard and tail.)
Paid Deposit $2074.99 Cash
Trade In $1200.00(99 Hyundai Sonata SL w/121000) and paying $309/35 Mos 15000 miles Yr.

Gross Cap $25850.00
Cap Cost Reduction $780.00
First Month $309.08
Refundable Security Deposit $350.00
Reg Fees $149
Tax on Cap Cost Reduction $67.28
Sales Tax $959.69
Acquisition $597.44
NY Tire fee $12.50
Doc Fee $50.00

Residual $15324.95 at end of lease

How did I do?

pcneustadter

i currently have a 97 se 105k and am considering a new car i have never leased before always bought new .how do you determine weather it is better to lease or buy

falsetta

Does anyone know what the residual is/was on a 2003 Maxima GLE?

Thanks
tfalse99yahoo.com

CarMan@Edmunds

Welcome pcneustadter. 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.

Whether you should lease or buy this car depends upon how good its lease program is. Once you have decided upon the exact Maxima that you want, describe it to me and I can give you an idea of what its current lease program is like. You can then evaluate its money factor by multiplying it by 2400 to convert it into an approximate money factor equivalent. If this car's residual value is high and its money factor is low enough, you may want to consider leasing it. You just have to decide whether it is attractive enough to beat the 3% 5 year finance rate or $1,500 customer cash that Nissan is offering on the '06 Maxima.

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matt40

Car_man,

This forum is excellent and thanks for taking time to respond to so many people. I am posting a message here for the first time and I will try to give you all the info I have. Here is the deal I got going right now:

Nissan Maxima SL with Driver Preferred Package, Sunroof, and Navigation System in Columbus, Ohio:

MSRP: $35,145
Sales Price: $32,948
Money Factor:.00093 (possible typo from dealer)
Residual: $18,627
36 payments: $459.00 (tax included in payment)
Money Down: $1,000
Miles/YR: $12,000

So is this a good deal? I asked for 15,000 miles a year and I think I can get them to give me those miles if I push hard enough. What do you think? Car_man if you are out there HELP!

Thanks

toolpic

looking to find the money factor and residual for 2006 maxima se automatic wiht the following, floor mats, truck mat, guards, rear spoiler and sunroof, i was told by one dealer the MF was .00051 with a 52% residual. 3 year lease / 15000 miles. does the MF change if it is a corporate lease?

justice2

I was given this lease quote today for a 2006 Maxima SL, preferred pkg, nav system, power sunroof, etc.

MSRP $34,545
Sales Price $32,225
Money Factor 53%
Residual $18,308
15,000 miles
36 months
$476.00/mth payment
$630.00 due at signing

I appreciate the help. Also my wife doesn't think I need the NAV. Is it worth the extra $1,800?

tstraub

Car_man,
We stopped by today to look at '06 Maxima SE. Salesman handed me MF sheet showing .00004(yes, four zeros) and residual of 52%(36 mos)for SE during June. With cap cost of $33,622.50 (invoice less $1500 rebate plus $2455 upside down trade)I calculate payment of $452.43 including 9.1% sales tax(WA state). MSRP is $36095 with freight, $35,490 without. Can you tell me if I'm calculating correctly? We weren't necessarily serious about a new car, esp being upside down in our car, but with a MF like that, I figured it would be advantageous to refi our negative equity at .10% for 3 years rather than keep paying 5.99% on ur loan - sounds like a great deal to me, pls check my numbers and advise. Really appreciate your expertise on this site.