Nissan Altima Lease Questions

2010sr · October 2010

Hi I posted this earlier as a reply. I hope someone could help me with a lease question.

I just put a deposit on a fully loaded 2010 Altima 3.5SR. I put down $1700 and I settled on a $350 month payment for 39 months. Does this sound like a fair price? I didn't get into the cost of the car. I am coming out of a 2008 fully loaded altima 3.5 SE which was $410/month, I knew I wanted the same car with all of the options and thought $60 less a month for a 2010 was a much better lease than last time.
:confuse:
Does $350 a month with $1700 down seem fair for a loaded Altima 3.5 SR?
Thank you in advance for any replies.

2010sr · October 2010

Hi all!

I just wanted to say the 2011's Altima's are out and I just leased one today. I leased a 2011, Altima 3.5 SR, with every package including navigation for $349 with $1700 out of pocket (tax and first month). The mgr said he wouldn't do it and said that was $1600 under their cost (not sure if I believe that) but another mgr walked by and said since he didn't have to locate it I can get it. I can take delivery in about 10 days when it gets delivered to the dealership. I had a fully loaded '08 and absolutely loved it!

CarMan@Edmunds · October 2010

Hi 2010sr. $60 per month less than what you are paying for a similar car right now certainly sounds good. It's difficult for me to provide you with a detailed analysis of this deal though without this car's exact selling price and MSRP. As a consumer, you are entitled to know these numbers. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers, it is difficult to tell how large a dealer discount you are being given and whether there is any room left to negotiate. Let us know what the numbers are and I'm sure that either myself or another helpful community member will gladly let you know what they think.

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2010sr · October 2010

So a week later and no car. I wrote the post about the 2010 and the 2011 Altima SR. When the 1st dealer couldnt find a fully loaded 2010 SR, in Navy I went to Atlantic Nissan in West Islip NY. They are the worst. I went to them and they wrote up my deal for the same price with $1700 out of pocket, $349/mo for 39 months, but for a 2011! I thought great! I needed to wait a week for it to come in and today went to pick it up and they wanted an additional $349. I told them no, I was giving them the $1700 - my deal was written as $1700, plus DMV charges because they were unknown when the wrote up the deal. Today I go and they said I needed to pay my 1st months payment, I told them the 1st payment was in the $1700 and the finance man said everyone knows the first months payment is always ontop of the down payment. The car was written up for $27700 for a 2011 3.5 SR fully loaded with Navigation. They said they were losing money and gave me a refund of my deposit and let me walk away. Those people are such fast talking creeps. Sorry for boring you with the details. Thank you for replying.

CarMan@Edmunds · October 2010

I'm not bored at all, 2010sr. I love it when people stop back to let us know how everything turned out. Keep working at it, you'll get your car eventually.

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tschmude · October 2010

Hi Car man. Nissan is offering 1500 rebate plus 500 bonus cash. Should I be getting that on a lease also? I live in the northeast region. Thanks

CarMan@Edmunds · October 2010

Hi tschmude. Unfortunately, the $1,500 rebate that you mentioned is not compatible with NMAC's special lease program for this car. I believe however that Nissan is $500 NMAC bonus cash on all '10 Altima Sedans and another $500 on Altima Sedan 2.5S models without the Power Driver's Seat option that are compatible with the lease.

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2010sr · October 2010

So I went car shopping, this time hitting all the dealerships, not just with a loaded Altima in mind. My old Altima 2008 fully loaded with Nav was costing me $415 a month, so I thought, anything cheaper than that is worth looking at. I stopped by an Infinity dealer (which is also Nissan) to my surprise, I found I could get a 2011 G25X all wheel drive for $335 with taxes and 1st payment (about $2K). After driving the G25 (Same exact car as the G37, new for 2011, a V6 with less horsepower that the G37) I decided I needed the extra horsepower and got a 2011 G37X sedan, all wheel drive with the premium package for $380/mo. I know he would have come down a bit more but I settled. My fiance was going to get the G25. At the time he said he couldn't do it for under $360 but then called 2 days later and said he'd do $335. The good thing about this class of car is it basically has everything in it. I will miss the navigation, but has a backup camera and a great bose stereo. Jerry from the Manhasset dealership in NY was GREAT! If you go tell him Lisa already gave you the prices! Thanks for letting me share :shades:

gooddeal2 · October 2010

Can you give the numbers in detail for your first payment? $380/month sounds really good. thanks.

2010sr · October 2010

Hi. I leased the G37x Sedan all wheel drive with the premium pkg. Sticker says $40,040, but my contract says $36,515. My payments are $380/mo for 39 months, 10K miles. Out of pocket, a total of $2,217 which includes taxes- $1,303, 1st payment - $380, reg fee- $227, cap cost reduction - $200 + ccr tax - $18, doc fee - $75, & ny tire fee $12.50 and DMV - $227. I wasn't transferring plates, so my DMV charges were more than usual. My sales guy was super nice at Infiniti of Manhasset, Northern Blvd, Manhasset, NY. He might be slightly neg. $5/mo or so. I am not sure if this is a great price or not, but I was happy with it AND it's a beautiful car with 328 horsepower! You can get the G25, less horsepower for $330 wiith same money down, but you might not be happy with the pickup. Good Luck

gooddeal2 · October 2010

thanks. I think it's a great price. I'm thinking about leasing as well but I only want to lease for 24 months.

kingpcgeek · October 2010

Welcome to the Infiniti (notice the i, not a y) family. Once you get a G its tough to get something else. I will be leasing my fourth within the next year. FYI unfortunately Infiniti does not offer the Bose stereo on the G25 since there is no premium package available.

2010sr · October 2010

Hi kingpcgeek

The horrible people at Atlantic Nissan in West Islip, NY did me a tremendous favor by demanding more money for the altima. If they didn't do that, I would have never gotten my BEAUTIFUL G37x! It is beautiful through and through, I only wish I could have afforded the nav. The screen is there, they all have backup cameras, I didn't think it would be so expensive (another $80). Mine is Blue Slate with a creamy stone interior. If it were a man I'd marry it!

he he he

chances · November 2010

Hello! This is my first time posting. I have a question about brake repairs for my Nissan Altima that is going back in the next three months!

I definitely need brakes. I was quoted $545 to replace the brakes at the dealership. The rep at the dealership said it was important to get factory brakes, especially since I would be turning the car in soon. Apparently he said it makes a difference at lease turn in.

Is this really necessary though? If I can find a good shop, like a good mom and pop shop to do the brakes for me, isn't that good enough? Will Nissan actually inspect my car and although the brakes are good, if they are not factory brakes, hold it against me?

I am trying to save up to buy a car when I turn this one back in (I don't plan on picking up another car note) so I don't want to give away unnecessary money that can go towards the upcoming purchase. I also however don't want to have to give the dealership money when I turn in the car either for something I could have gotten fixed beforehand. I am already getting body work done, tires, etc.

Any suggestions are appreciated, thanks!

My Nissan is a 2008 Altima S.

kyfdx · November 2010

Get your brakes fixed anywhere you want... Everything the service advisor said is either inaccurate or a lie... No one checks your brakes..

Contact your leasing bank for information on turn-in. It's quite possible that they will use an independent inspector, and the dealership will have nothing to do with your turn-in, except accept the car and the keys. Also, before you spend money on tires, find out what they charge for worn-out tires.... Sometimes, the penalty is less than your replacement cost. Also, your tires might just pass inspection..

chances · November 2010

Thank so much for your response!

I guess I am a little confused, because from the research I've done online, it says they will have someone come out (or when you turn in the car) that they will do a multi-point inspection, and whatever things are wrong with the car, they may try to charge you that in fees.

The brakes AND tires unfortunately aren't in the best shape (the brake pads have worn down) and the tires had their tread messed up pretty badly when I caught a nail driving but drove on them a little too long. So I figured I would at least get those done.

I will call the financing company and ask those questions you suggested. Thanks so much!

kingpcgeek · November 2010

Nissan will send you a letter soon detailing the lease turn-in conditions and inspection. It will be a third party, dealers don't do lease turn in inspections. They are looking for body, interior and glass damage, tire tread life and wheel damage if so equipped. The one thing they seem to ding a lot on is scratches on alloy wheels from curbs. The letter will tell you exactly how much tread must be left on the tires. They will not look at your brakes.

kev_head · November 2010

I was at the dealership today and looked at a 2011 Altima Coupe 2.5 that had an MSRP of 25800. It included the convenience package and floor mats. I was able to talk the salesman down to 22750.

MSRP 25800
Sale Price 22750
Money Factor .00187
Residual 54%
39 month lease with no money down for $346 a month

Does this look like a good deal? I told the salesman I would think about it and get back to him.

CarMan@Edmunds · November 2010

Hi kev_head. The money factor that you were quoted is right in line with Nisan's current program for this car. That is a good thing.

Let's take a look at its selling price. The car that you are interested in has a spread of around $1,500 between its full MSRP and its dealer invoice price. In addition to that, Nissan is providing a $500 cash incentive on it on deals that are run through NMAC and an additional $500 bonus cash that started a few days ago and runs through the end of the month. That's a total of $2,500 to play with during your negotiations.

The $3,000 discount that you were quoted on this car looks very attractive to me. I personally don't see any reason not to go for it if you like the car. Just make sure to finalize your deal this month to take advantage of the extra $500.

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surreal_ca · December 2010

Hello,

I have 3 months left on my 39 month lease of a 2008 Altima Coupe. I'm considering doing an early return and replacing it with a 39 month lease on a fully loaded 2010 Altima Coupe 3.5SR. Do you know if they'll try to penalize me for the early return? Also would you happen to have the December money factor and residual on the 2010 3.5?

Thank you so much!

kev_head · December 2010

Thanks for the info Car_man! I went back to the dealership and pulled the trigger on it. This forum has been a huge help for me leasing for the first time.

ganjaman · December 2010

Hi there. we are looking at a lease for a 2011 Altima 2.5S with the convenience Plus package + bluetooth. Was wondering if the lease price was good since I've never leaseed before:

$2200 down ( becomes 0 with our trade-in) + 265 per month @ 12K per year for 39 months.

The 265 is inclusive of taxes & fees.

CarMan@Edmunds · December 2010

Hi surreal_ca. Chances are that NMAC will charge you the remaining three payments on your current lease regardless of when you turn your car in.

Nissan Motor Acceptance Corp.'s December buy rate lease money factor and residual value for a 39 month lease of a 2010 Altima 3.5 Coupe with 15,000 miles per year are .00132 and 50%, respectively for consumers who qualify for its top credit tiers.

Car_man
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CarMan@Edmunds · December 2010

You're very welcome, kev_head. I'm glad that I was able to help you out.

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uzma · December 2010

I just leased 2011 Altima 2.5 special edition (few upgraded features, no blue tooth thoug) for $225.00 with $500.00 down (which included the first months fee) for 39 month & 15K (instead of 12K)
May be yours is bit more upgraded as mine doesnt have the leather seats or ipod or iphone feature. (just input for Aux) but with 2200 down, $265 seems a lot.

ddelise · December 2010

Hello.

What is the current residual and money factor for a 3.5SR Sedan in Florida for 36 or 39 months, 12k miles/year? If the rates are attractive, between the VPP program with employee pricing and the holiday bonus cash, this might be a very good lease payment.

Let me know if the rates vary with/without a Nav system - I'm undecided at this point.

Thanks!

CarMan@Edmunds · December 2010

Hey ddelise. NMAC's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Altima 3.5 SR Sedan with 12,000 miles per year are .00153 and 64%, respectively.

The numbers for an otherwise identical 39 month lease are .00153 and 63%.

The addition of nav should not have any impact upon this car's lease program.

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tjinva · December 2010

Please advise as to the current residual and money factor for a 2011 Nissan Altima 2.5S based on a 39 month lease and 45K miles.

I am looking at getting one with a MSRP of 30860 - a pretty loaded car incl navi. Does a car with more options affect the residual percentage?

Also, I believe that Nissan is currently offering a $750 rebate or alternatively 0% financing if one purchases an Altima for an individual with excellent credit. If one were to lease the car instead of buying it would one still qualify for the $750 rebate based on the current money factor?

Are there any other dealer rebates or consumer rebates on the 2011 Altima 2.5S at the current time?

Thanks for your assistance with the above information.

CarMan@Edmunds · January 2011

Here you go tjinva. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2011 Altima Sedan 2.5S with 15,000 miles per year are .00137 and 59%, respectively.

NMAC has three different sets of residual values for the '11 Altima, the base, S, and SR. The addition of any other options has no impact upon this car's residual values.

Nissan is not currently providing any cash incentives on leases of this car.

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czcon1 · January 2011

I'm looking for the current money factor & residual % for 2011 Altima sedan 2.5 and 3.5 for 36 months at 15000 miles a year. Also is the $1250 cashback for leases?
Thanks

czcon1 · January 2011

Narrowed it to the 2011 Altima sedan 3.5SR. Could use the money factor & residual % for 15K a year for 36 to 48 months. :shades:

CarMan@Edmunds · January 2011

Hi czcon1. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s January buy rate lease money factor and residual value for a 36 month lease of a 2011 Altima Sedan 3.5R with 15,000 miles per year are .00137 and 61%, respectively.

The numbers for an otherwise identical 48 month lease are .00215 and 48%.

As you can tell, the 36 month term is definitely the better deal.

Car_man
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czcon1 · January 2011

I was wondering, I just got all three credit reports and two credit scores and the scores say I'm above average but not the best. Will I still qualify for those rates? I just don'nt want to listen to someones BS about my credit.
Thanks

CarMan@Edmunds · January 2011

Hi czcon1. One needs to have a credit score of 690 or higher to qualify for NMAC's best special rates. If your score is lower than that you will have to pay a slightly higher rate than the ones that I've mentioned.

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cg62 · February 2011

Leased 2011 altima coupe 2.5s on January 30. Crimson black with CVT . sticker price $24,700 only options were blue tooth and floor mats. 39k miles 39 months. Due at signing first month payment and motor vehicle fees totaled $560. dealer is paying off my last 2 payments on my jetta Total $560. Net due at signing $0. My monthly payment on the Altima is $294. Seemed like a good deal. Hope this is helpful.

jeep097 · February 2011

Coming out of a 2008 lease on 2/28/11 and looking to secure a new vehicle. I'm considering a 2011 Altima Sedan 3.5 SR. Can you please provide the current money factor and residuals for 36 and 39 mo leases at 20K miles/year?

Is Nissan offering any cash incentives, bonuses, etc for Feb 2011?

Thanks in advance.

tinkerbell2011 · February 2011

I have been negotiating with a couple of dealerships about a 2011 Altima 2.5S with SEP and mats thru TrueCar.com. I have the selling price of $21,419 (MSRP $23,755), residual of .60 ($14,253), money factor of .00097, 7% sales tax with a $1,500 loyalty rebate. Could someone figure my payments? Using the calculators online, the dealership has it figured $30-40 more than I have it figured. I've asked for all "hidden" added costs. He just told me the acquisition fee wasn't included although it is on TrueCar. When I use the calculator for the Kia Optima with the numbers from the dealerships, I come out just a few dollars off. I cannot understand why it doesn't with the Altima.

Thanks!

CarMan@Edmunds · February 2011

Here's the information that you're looking for jeep097.

NMAC's February buy rate lease money factor and residual value for a 36 month lease of a 2011 Altima Sedan 3.5 SR with 15,000 miles per year are .00097 and 61%, respectively.

The numbers for an otherwise identical 39 month lease are .00097 and 60%.

15,000 miles per year is the highest mileage allowance that NMAC publishes residual values for. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

Nissan is currently providing a $1,500 loyalty cash incentive on leases of the 2011 Altima Sedan to current NMAC lessees. Make sure to take this cash into account during your negotiations.

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CarMan@Edmunds · February 2011

Hi tinkerbell2011. Using the numbers that you provided in your post, I come up with a zero down, pre-tax monthly payment of around $234 before the loyalty cash is taken into account. If I subtract the $1,500 from this car's capitalized cost, the payment drops to around $191.

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tinkerbell2011 · February 2011

Thanks Car_man. I have two different Nissan dealerships quoting me about $237 with the rebate. I keep telling them it looks like I'm not getting credit for it. When I run the numbers for the Optima, I'm almost to the penny.

tinkerbell2011 · February 2011

Car_man, may I ask what you are using to get the payment? I'm sure they are going to ask me. I just sent them my spreadsheet along with email from Kia with their numbers verifying I'm almost right on with their payment.

tinkerbell2011 · February 2011

I ended up getting the Altima for $217/mo, no money down, which included 7% sales tax. It was about $6/mo more than I figured, but I felt it was close enough. They added me to the Gold Membership, whatever the heck that is, with some free stuff. Told me I wouldn't have a disposition fee on the old or new car because of "the" membership. I've never heard of it, so I'm not sure if it was just a gimmick or not. I know it includes free wiper blades for life (39mos

, an oil change (not sure if it was just one or more), free rental car (which I've always gotten) for service, and some other things. They liked the spreadsheet I sent them which I made and said I was one of the most well- educated customers they had seen. Thanks to the internet

jeep097 · February 2011

Thanks, Car_man. I will factor in the extra mileage above 15,000 myself - and understand the benefit of doing so up-front vs. at lease-end. However, will the additional miles change the residual value, and if so, is there a way to calculate that myself?

Re: the $1500 loyalty cash incentives to current NMAC lessees - I am not currently with Nissan, so does this apply to my situation? (i.e. - will that $1500 be negotiable with the dealer or is that strictly from Nissan, only for NMAC lessees of record?)

Appreciate all the info and advice - great forum!

jeep097 · February 2011

Car_man : forgot to add the following to my last post - as a fall-back alternative I am also considering a 2011 Honda Accord EX-L V6. Same question as per the Altima - can you please provide the current money factor and residuals for 36 and 39 mo leases at 20K miles/year? (If not 20K, whatever the max is).

Similarly, are there any Honda cash incentives for Feb 2011?

Thanks for all your insights.

va_2nd_nissan · February 2011

Hi Car_Man. I've been following your posts and information for a while and appreciate all the help you've given me.

I just got a 2011 Altima 2.5 S, Convenience Plus, Blue tooth, Aluminum Kickplates and splashguards (MSRP 25,870). I paid tax, tags and fees plus 1st month up front, and my payments are $189 for 39 months, with 15K a year and free service.

The dealer took care of my current nissan lease with three months left on it, and I got the full 1500 lease loyalty in the deal. I know the MF was .00097 and the resid. was 59%.

I trying to figure out if I could have gotten lower, since the best True Car quotes (without incentives) seem to be about $1000 less than the prerebate price I paid.

tinkerbell2011 · February 2011

Sounds like you got a heck of a deal! I just purchase same Altima with SE package, mats, splash guards, $0 down, first payment and payments are $219 with 12k/yr, 39 mos, $1,500 loyalty rebate, .00097 money factor & .60 residual. I thought I did well... Just noticed they are running an extra bonus rebate of $500 for Presidents Day sale. Wished I'd waited a couple days. What was your selling price (without rebate) and extra fees? Dealer price is listed at about $23,370 on the car you purchased.

va_2nd_nissan · February 2011

Hi Tinerbell:

The sales price pre-rebate was $22,819 (only consumer rebate was the $1500). Fees were 595 acquisition, 398 processing, 63.5 for tags. Tax in my state is about 3% of purchase price, but no tax on payments.

I don't understand where TrueCar.com come is getting their Best Prices from though, I remove the incentives when I'm trying to get a price certficate, but maybe they are still putting in these president's day specials.

tinkerbell2011 · February 2011

My $217 included 7% sales tax of about $14. I'm a bit ticked off as I just saw on the Nissan website there is a $500 lease bonus rebate from 2/4/11-2/28/11 as well as a $500 holiday bonus rebate for weekend for Indiana. You may want to ask about those as well. I'm contacting my sales guy to see why I didn't get the extra $500 rebate on top of the loyalty rebate. I don't know if there are any restrictions on using all of the above together. Let me know what you find out about using all of the above when you talk with your dealer.

My Altima - selling price of $21,670.80 with $796.25 dealer fees. Our sales tax paid with monthly payment only.

douglasny · February 2011

Just purchased a 2.5SL yesterday with conv, conv plus, SL package, plates-mats-splash
MSRP 27,150
Agreed Upon Value 23,370
Adj Cap Cost 23,734
Res Value 16,278
Acq Fee 595
Up Front Tax 636.13
Prez Day Rebate 500
Down Payment 1,000
Monthly Payment 227
Purchased the GAP coverage for 3 a month bringing total payment to 230

Good deal? Is the GAP coverage a good purchase or a scam?
The 60% residual and .00097 money factor look accurate.

bajapanty350z · February 2011

Car man! How are you? You have helped me get the numbers right in the past years for a 350z and a Sentra! And now I need your help
Once again!
My girlfriend received a call today for a "promotion"
To turn her sentra in a year early and get another lease no money down before Sunday. We are considering passing by but I want to go prepared as always!
If you have a chance can you please tell me the money factor and residual % on a 2011 altima 2.5 36 mon 15k miles! And the same for a 2.5s same specs?
Thanks for your help! You are the best!

Rob

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