Nissan Quest Lease Questions
CarMan@Edmunds
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in Nissan
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Nissan Quest. Thanks.
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It is difficult to say what the best time of the year to lease this van would be. Consumers are usually able to get bigger discounts on vehicles and manufacturers provide larger incentives at the end of the model year, however this is not necessarily the best time to lease. This is because vehicles' residual values gradually fall as the model year progresses. The lower a vehicle's residual value is, the more expensive it is to lease. If I had to generalize about when the best time to lease this van is, which is a difficult thing to do, I'd probably say in the middle of the model year to around three quarters of the way through it.
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Thanks for your input.
I had a great experience with the Quest; nevertheless, I am planning to lease either an Odyssey or MB R350 next just for a change of scenery.
I'll keep you posted.
36 month residual is 51; 48 month residual is 39. Money factor is .00379
Vehicle total was $33,419. 48 month lease w/12k miles with $5k down = $523; 36 month = $635
$2500 down/48 months = $587; 36 months =$614.
They threw in an extra year of warranty so bumper to bumper would last life of lease and I took the 48 month $2,500 out the door price for $587 per month (first month payment included in the $2500).
Hope this info helps someone else shopping!
Fold Away Seat
Upgrade
Premium
DVD
Technology
Skyview
We are looking for leases for 15k with $0 cap cost reduction. I price it out around $39,960 MSRP and $37,979 TMV. The salesperson says he can give it to us for $100 over invoice but he hasn't been able to provide any other numbers yet. Anyone have rates/residuals, etc.?
Any help would be greatly appreciated as this is my wife's first car and I am hoping to teach her about being an informed buyer. Thanks.
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I am interested in a Quest SE's residual and money factor for a 39 month lease. The car's MSRP is $38,410 with invoice price of $35,000. Trying to figure it all out as soon as possible. Thanks SO much for all of your help wading through all of the information. You are an incredible help and I sincerely appreciate it.
2007 Quest SE with DVD, Technology, Seat, floor mats and splash guards....$38,470 MSRP. They said their numbers are based on invoice +$500 for total cost of $35,500. $0 due at inception, $581/mo for 39 months at 12k miles per year.
With current money factor and residual, is this a good deal? Has anyone done much better than this? Thanks again!
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First payment, taxes, security deposit, dealer fees?
Watch because if you don't read the fine print a lease really isn't as good as it initially appears.
If you have to fork out $3000.00 plus tax, fees, security etc etc then it's not as good a lease as you may have thought.
Here's something for everyone to look at who is thinking about leasing.
First: Take all of the front money the dealer wants. That can be cash or trade equity. Equity being what your trade is worth over what you owe. Example you owe $3000 but the trade is worth $5000 equity is $2000.
Second: If your term is 39 months. Take all of your front money and divide that by 39 months.
Third: Now take that number that you arrived at by dividing your front money by 39 and ADD it to the monthly lease payment.
Now you know what the vehicle is actually costing you per month.
Go one more step. Find out what payments would be if you financed it for 60 months and I think you'll find that it's pretty close to the lease payment. The thing is if you financed it for 60 months (21 months longer)then what you have in the vehicle is ALL EQUITY.
I hope you find this informative.
If I can help further..... let me know.
Rob
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On their section for Lessee's refusal to purchase reads, if I fail to accept delivery of said motor vehicle within five days after I have been notified that it is ready for delivery, then I understand that nay deposit which I have made with this order whether by cash or by another motor vehicle turned in for trade shall be forfeited to you and be kept by you and at your option shall constitute liquidated damages for my breach of this agreement.
Can they sue us for the down payment? Do I still have to pick up the van from them. What do I do :-(
If you don't take delivery, then you are in the clear... the contract isn't complete until you have the car.. No delivery, no money changes hands, no contract..
They are trying to bully you into taking the car.. Just say no..
(I'm not a lawyer and this is not legal advice).
regards,
kyfdx
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how can they sue you for the down payment when there was never a VIN # on the lease order? In other words, there was no car.
they are trying to bully you. Just walk away.
I would find out what the true value of your ML500 is by going over to the "Real World Trade-In Values" forum under the Car shopping forum. There are a few dealers who deal with auctions all day/every day. they are kind enough to give you the going price on your vehicle at auction (ie trade in price). They can also give you an idea of the private sale price on a vehicle like yours. Right now you are looking at $10k negative equity. that is a lot to roll over into a new loan or lease and may not be possible. If you could, your payments probably won't be much less then the $636 you are currently paying.
Your best bet may be to sell your ML500 privately and somehow scrounge up the rest of the cash to pay off the remainder of the loan then purchase a Quest used. Although I would lean toward a used grand Caravan or MPV not because they are better vehicles but simply they will be cheaper to purchase. A leftover 2006 MPV can be had for $17k-$18k because Mazda has stopped production on these vehicles. Used for several thousand less.
Is the $26K the payoff amount or the total of the remaining payments? If my calculations are right, you have 40 payments left.
However, the exterior color (Black) and interior color (Chili) that my wife wants are nowhere to be found in our area (NY tri-state). In fact, the fully loaded SE's with Navigation seem to be an extreme rarity. I've checked dealer inventories in numerous cities (Philly, Boston, DC) and only came up with two vehicles in the wrong colors. If the deal is a good one, how likely will it be that the dealer a) can find the vehicle and b) if he has to order it from the factory will honor the quote?
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I agreed to invoice price which I think is pretty good...
Thanks in advance for the help.
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Is the money factor and residual value still in effect for July? I live in upstate NY and I bouncing around between an 07 Sienna, 07 Odyssey and 07 Quest. I'm looking for the lowest current lease plan for 36 months at 12k miles a year. I welcome any suggestions. My wife and I have looked at the Odyssey EX (test drove one), the Sienna LE with AWD (we still get a lot of snow every year) and now the SL Quest.
Thanks
Conger14
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I was recently quoted the following for a 2007 quest (base model):
24,300. price
39 mo.lease/12,000. miles
348.20 per month..
the dealer says he is "losing" money on me. I keep thinking they are lying and laughing behind my back! I am trying to get the monthly payment closer to $300...am i crazy to think this is possible?
thanks
My understanding based on some info posted here a few months ago that minivan sales are down across the board for all dealers and with the new model line coming out, almost all dealers will lose money on minivan sales so...go to www.leaseguide.com and read everything there. This was the best place for me to understand how to negiotate a lease. I have not finalized a deal yet because I keep finding dealers who are inflacting the money factor or residual value or just not giving me those numbers when I ask. If a dealer can't give you the numbers, alarms should be going off!
Good luck
Once you have arrived at a price that you are happy with, make sure that the dealer that gives it to you calculates your monthly payment using NMAC's current 39 month buy rate lease money factor of .00030.
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(I won't sleep until i know i wasn't)
1. Nissan will roll the $2300 of Lexus lease payments into payments for the Quest. Is this typical? Should Nissan eat the final four payments as an incentive to lease a Nissan to me or it is usual practice for us to eat that cost? In other words, should that $2300 be added to the cost of the Quest?
2. MSRP on the Quest SE is $39780 based on sticker (37,780) + $2000 for the Nav system.
3. Dealer indicated his Cap Cost was $36,551. If anyone can tell me how/where to find Invoice, I would appreciate that.
4. Residual was 45% (that seemed low to me - our Lexis was 49%, but a 48 month lease term)
5. Lease is 39 months - 0% down, only first payment and DMV charges.
6. Money factor was .00050.
Dealer first gave us a monthly of $733 - yeah right!!. We finally got him down to $600. Is that a fair price with Nissan rolling the extra $2300? Am I being totally ripped off??
Thanks - any advice is appreciated.
Todd
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You can look up the dealer invoice price of the Quest that you are interested in by visiting the New Vehicle Pricing section of Edmunds.com.
The money factor and residual value that you were quoted are right in line with Nissan's current lease program for this model.
$733 per month is nuts for a Nissan Quest :surprise: . Obviously $600 per month is better, but I still think that you should wait until your Lexus lease is over to get something new.
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This lease program is good on demo vehicles as well. The problem that I personally have with demos though is that dealers never seem to be willing to provide enough of a discount on them for me to personally justify purchasing what essentially is a low mileage used vehicle over an identical brand new one. Everyone's different though and the couple hundred dollar price difference may be enough for you.
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Can you provide current MF an Residual for 24 mos and 36 mos for Nissan Quest SE and SL models, with 12k miles per year? Are the current dealer incentives good towards this lease?
Thanks
YH
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Hope all are well. Does anyone have the new 2011 Quest Money Factor and Residual for a 39 month NMAC lease on a 2011 Quest LE? Also - I've seen a couple different invoices, if anyone could help out - would really appreciate it!
Thanks so much,
Brian
You should be able to find the dealer invoice price for this vehicle over in the New Vehicle Pricing section of Edmunds.com.
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I actually picked up the 2011 Quest and love it so far. Appreciate the info.
Brian
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The numbers for an otherwise identical 36 month lease are .00230 and 49%, respectively.
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You have information on a 2011 Quest LE for 39 months and 12k mi/yr?
Let me know, Thanks in advance
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