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Nissan Altima Lease Questions

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  • jessinfl66jessinfl66 Member Posts: 2
    Hi Car_Man

    I see the May money factor and residual value for the sedan. Could you provide me the info for the coupe for 12k miles and the 36/39 month lease that is most common at Nissan. Thanks so much.
  • jessinfl66jessinfl66 Member Posts: 2
    Sorry Car_Man

    I think I slept through a month. I meant the June lease info for a coupe in the above message.

    Jess
  • driver165driver165 Member Posts: 1
    Dear Car_Man
    I am considering leasing Altima 3.5SR with sport and premium packages, MSRP around $31,000.
    Can you please tell me current (June 2012) residuals and money factors for 39 and 24-month leases on such cars? How much should I expect to pay per month assuming that I get loyalty discount as current lease customer? State tax rate is 7%.
    Thanks!
  • titussalvatoretitussalvatore Member Posts: 3
    edited June 2012
    Dealer has quoted me $250/mo for 2.5S (2012)

    Has all the following included :
    Intelligent key
    Bluetooth
    Premium Audio
    Backup camera
    sunroof

    39 Months ZERO down 15k miles !!

    As is obvious - I'm a novice as to the quote and would like to hear the community's opinion as to the his quote and whether this is a good deal or not ?
  • titussalvatoretitussalvatore Member Posts: 3
    PS : Also contains Auto headlights etc.

    I need to close this deal soon - really hoping someone from this forum replies
    cheers
  • pegasus17pegasus17 Member Posts: 536
    edited June 2012
    msrp?
    residual?
    money factor?
    tax rate?

    Need details to evaluate...

    Also, the 2013 is out so don't give up the leverage you have with the dealer.
  • titussalvatoretitussalvatore Member Posts: 3
    State is delaware
    I've only begun the notional discussion - like I said, I'm probably the biggest novice here :( - the MSRP seemed a bit dicey to begin w/ seeing the almost incumbent launch of 2013 so I thought to I did begin w/ my expected budget for any altima with the features I wanted - so I started with a quote of 220 p.mo - and he's given me 255!!

    But he does agree to the fact that there wont be any downpayment, and the Nissan aquiisitoin fee, documentation fee taxes is all inclusive in this figure!!

    Im curious as to w/o getting the MSRP and Residual - are the figures I've provided sufficient for edmund leasing vets here to give me a clue if the monthly figure is good/bad to any extent they can!
  • zarkoffzarkoff Member Posts: 2
    edited June 2012
    Hello Mr. Car-Man,

    Could you please provide the residual and money factor for a 2013 Altima SV for 24 mo. lease with a 15,000 mile per year allowance. It looks like there is a promotion for the 2013's that runs through 7/2/12, but the details for this lease are not available. Thanks a bunch.
  • leefinkelleefinkel Member Posts: 2
    edited June 2012
    Got back a little bit ago from a local dealership (DC area) - was looking at the 2012 Altima 2.5S - MSRP of right around $24k - 24 months, 12k miles - they best they offered was $327/month with no money down, or $2k down and $237/month - a far cry from some of the offers on this board, that I quoted to the dealer.

    I'm now looking at a 2012 2.5S with Convenience package and Convenience plus package, with MSRP of 25,390.

    What's the best way to not waste my time? What am I looking at here, Car Man? Anyone else? Please help! Want to pull the trigger ASAP!
  • leefinkelleefinkel Member Posts: 2
    I guess all I'm looking for is the residual and money factor for a 2012 Altima 2.5S for a 24 month lease with 12k miles per year. Earlier you said .00003 and 73%, but it seems like those numbers can't be real. Please advise, ASAP?
  • radbluejay1radbluejay1 Member Posts: 6
    Hi everyone. Thanks to all those who contribute, this form and site has been so helpful to me over the years.

    Anyway, I'm interested in a '12 Altima 2.5 S. I see a lot of incentives advertised (NMAC cash, lease cash, cash back, etc). I'm just hoping someone can explain what incentives can be used towards a lease (assuming financing through Nissan). Also, the June residual and money factors would be much appreciated (for both 24 and 36 mo's).

    I'm just trying to figure out what sort of price I should expect and then use that to calculate payments possibilities. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out jessinfl66. Nissan Motor Acceptance Corp.'s June buy rate lease money factor and residual value for a 36-month lease of a 2012 Altima Coupe 2.5 S with an automatic transmission and 15,000 miles per year are .00003 and 51%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39-month lease are .00003 and 50%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    HA Jess. I suspected that's what you meant and adjusted accordingly.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi driver165. NMAC's June buy rate lease money factor and residual value for a 24-month lease of a 2012 Altima Sedan 3.5 SR with 15,000 miles per year are .00003 and 59%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39-month lease are .00059 and 50%.

    This car's lease payment will depend upon what sort of selling price you are able to negotiate on it. For now I will assume that you will be given a $2,000 dealer discount and have the $1,810 cash incentive that is available on leases of this car deducted as well.

    According to my calculations, if you were to lease a 2012 Altima Sedan 3.5 that has an MSRP of $31,000 and a selling price of $27,190 through NMAC right now for 24-months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $373.

    The numbers for an otherwise identical 39-month lease would be $325.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello zarkoff. NMAC's June buy rate lease money factor and residual value for a 24-month lease of a 2013 Altima Sedan SV 4-cylinder with 15,000 miles per year are .00200 and 71%, respectively for consumers who qualify for its top credit tier.

    While this is an excellent residual value because this is an all-new vehicle, this is only NMAC's standard lease money factor. It is not providing support on this car yet.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi radbluejay1. As far as the cash incentives that are available on leases of this car go, there is $1,810 on the 2012 Altima Sedan right now. This lease cash is different than what would be available on a vehicle that was financed or paid for with cash.

    Nissan Motor Acceptance Corp.'s June buy rate lease money factor and residual value for a 24-month lease of a 2012 Altima Sedan 2.5 S with 15,000 miles per year are .00003 and 59%.

    The numbers for an otherwise identical 36-month lease are .00059 and 51%.

    Car_man
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  • radbluejay1radbluejay1 Member Posts: 6
    Thank you so much. Is the NMAC $500 also available for leases (in addition to the $1810)?
  • zarkoffzarkoff Member Posts: 2
    Thank you Car-man. Are the money factor and residual pretty much the same for all the 2013 Altima's with the 24 mo/15,000 mile lease? Again, many thanks.

    Dr. Zarkoff
  • hairmechanichairmechanic Member Posts: 15
    Hi carman,

    Looking to lease a 2.5S (Aniversary package) for 12000 miles, 24 months.

    1. what is the MF and residual?
    2. is there a NMAC fee due when you lease (when you return the car)
    3. dealer was telling me 4th July would have an additional $500 promo in the mix. is that true?
  • davesriidavesrii Member Posts: 13
    Hi Carman,
    I hope you can help me with this request, I am looking to lease 2013 Altima swdan 3.5 SL with Tech Package and have some questions
    1) Target sale price for this model ( in KY)?
    2) Money factor and residual value 12K for 36 or 39 months for June 2012?
    3) How much is the Acquisition fee?
  • jfraser98jfraser98 Member Posts: 1
    Hello!

    I need your assistance. I'm trading in my 2010 Nissan Murano to reduce my payment to get a 2012 Nissan Altima 3.5 (V6-Tech Package). Dealer advised I was borderline between Tier 1 / Tier 2, and offered me a 39 month lease - 12k a year - $475 (will absorb all the payments for my previous vehicle till August 2013). I test drove the 2013 Altima, but dealer advsied the one he demo'd wouldn't be available till September. I'm just trying to determine if this is a good deal or not...I would prefer the 2013, but i'm also trying to keep my payment less than $500.

    Help!
  • princeton08540princeton08540 Member Posts: 1
    I have always purchased my cars in the past. This will be my first time leasing and could use some help in determine whether the following figures are a good value as well as the proper questions to ask my dealership when I return. Auto: 2012 Nissan Altima 2.5 SL. List: $28355. Customer Discount $1772. Selling Price: $26583. Trade: $0. Sales Tax: $1868.31. Doc: $197. Lien Filing Fee: $25. Registration: $211. Tire Fee: $7.50. Title: $60. Total Purchase Price: $28951.81. Terms: 39 mo. Mileage: 15K/yr. $3500 out of pocket: $3500. $211/mo. Residual: $14461.05. Thanks for any advice that you can provide.
  • derfsonderfson Member Posts: 14
    ADVICE GIVEN ME ALONG TIME AGO WAS NEVER PUT MONEY DOWN ACCEPT FOR THE BANK ACQUISTION FEE 595 PLUS FEES IN YOUR CASE 500 PLUS THE FIRST MONTH PAYMENT. ANY OTHER MONEY THAN THIS IS EQUITY YOU WILL NEVER GET BACK. JUST PAYING BANK ACQ. AND FEES WOULD PROBABLY PUT YOU AROUND 290. BUT YOU NEED TO KNOW MSRP, TOTAL DISCOUNTS, SALE PRICE PLUS MONEY FACTOR AND RESIDUAL AND A PRICE COULD BE FIGURED OUT. YOU CAN GET THAT FROM THE HOST OF THIS SITE.
  • pegasus17pegasus17 Member Posts: 536
    ref: 1604
    http://www.fitzmall.com/fitzway/carfind/RESULTSB.ASP?V_XREFID=0420891079128

    Purchase price is way too high. Should be getting 6k off msrp since the 2013 model is out. Residual % appears to be 51% but what is the money factor?
    Also, what is your state's rules on taxation on leases?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome radbluejay1. No the NMAC APR Bonus Cash is not available on leases, just on conventional loans through NMAC.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome Dr. Zarkoff. The money factors are the same for all 2013 Altimas right now, but the residual values vary slightly.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings hairmechanic. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24-month lease of a 2012 Altima S with 12,000 miles per year are .00020 and 53%, respectively for consumers who qualify for its top credit tier.

    The last time that I checked, NMAC did charge a $395 disposition fee at lease-end.

    What you were told about the additional cash is correct. From July 3rd through July 9th there is an additional $1,000 bonus cash on '12 Altima Sedans.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi davesrii. NMAC's current buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima Sedan 3.5 SL with 12,000 miles per year are .00200 and 62%, respectively for consumers who qualify for its top credit tier.

    NMAC charges a $595 acquisition fee on every vehicle that it leases.

    If I was in the market for this car right now, I personally would shoot for a selling price of a couple hundred dollars over dealer invoice minus any available cash incentives. One should be able to get this sort of price in any area that has at least a moderate amount of competition.

    Car_man
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  • jknastjknast Member Posts: 5
    Hi CAR_MAN,

    I am looking to lease a 2013 Nissan Altima. To do so, I have to get out of my 2010 Maxima lease that has about 9 months left.

    I received a letter in the mail from a local dealership giving me trade in offer of $25,500 for the Maxima. This is about $3,000 over what the true trade in value probably should be. I brought the letter to the dealership and they are honoring it. However, they are saying that included in that offer is a tax credit that is built in that should be deducted to get the true offer. So, in New Jersey the tax rate is 7%, so the the true offer is the $25,500 minus 7%. Does this sound right to you? To me it seems like a scam to knock down the offer.

    Also, can you provide the residual and money factor the 2013 Nissan Altima SL (36 months/12k miles)? Is it still .002 and 60%?

    Thanks for your help with this. I've used the forums for information a lot over the years.

    Regards,
    jknast
  • new_buyer1216new_buyer1216 Member Posts: 2
    Hi car man,

    I'm looking to lease a 2013 nissan Altima sedan 2.5 s. 12k/year for 36 months,
    What are the money factors and residual costs on this model for this term?
  • new_buyer1216new_buyer1216 Member Posts: 2
    Can I also get the info for the 2012 model? Thank you
  • worleygirlworleygirl Member Posts: 4
    Carman - I am interested in a 2013 Nissan Altima Sedan 2.5 SL. As I would like it, the MSRP is $29,920 and the invoice looks to be around $27,300 (with destination fee). I would prefer the 2013 because of the improved MPG.

    Can you tell me what the residual percent and lease money factor rates are for the month of August on a 15K miles per year for a 39 month lease term? My lease is up January 8th, but they've offered me 3 months forgiveness off my current lease if I lease again by September 4th and $1000 loyalty cash incentive. I'm trying to figure out if now is the time to make the change. Do you think the 2013 incentives or lease rates will get better later in the year?

    Also, I have read that you should negotiate the selling price even on a lease. Can you confirm that is true?

    Thank you for helping me.
  • michaeld25michaeld25 Member Posts: 1
    I just leased a 2012 Altima 3.5 SR w/ sports and premium package and carpet and floor mats for $245/mo +TTL (In Illinois where you have to pay tax on the entire vehicle price and not just the lease term) with $0 down and a $3000 trade in (for a car I've paid nothing for). This is a 39 month lease. Is this a great deal?
  • zi_rahzi_rah Member Posts: 2
    Hi Car_man

    Looking to see if you can provide me with the residual value and current money factor of a Nissan Altima 2.5 S Model with a lease term of 39 months 12,000 miles/yr.

    Thanks
  • hjasonhjason Member Posts: 1
    Same question here for me as well.
    Also, I got a quote on 2012 Altima 2.5SL with a lease term of 39 months 12,000miles/yr
    $1000 down with 250/month for the rest of 38 months (TTL included). Can I do better on this one?
    Please help Thank you.
  • zi_rahzi_rah Member Posts: 2
    Yea you could definitely do better I think. When I was negotiating with them they started out with $0 down and $274 a month but talked them down to $240 with nothing down. Didn't accept the offer right there because we were interested to see how much the insurance would be (came out to $130). Plus with the new 2013 models out and how different they look you would think they'd want to move the 2012 models off the lot as quickly as possible.
  • chuck162chuck162 Member Posts: 3
    Hello Zi Rah,

    You got a great deal! Congratulations on your excellent negotiation.

    I'm going to lease a 2012 Nissan Altima 2.5s today and I would like to ask you some questoins if you can help me out.

    Can you please tell me the specs of the lease for the $240/mo price?
    * # miles per year?
    * # of months?
    * did you mean $0 down for capitalized cost reduction? or literally 0 down? The reason I ask is that most dealers usually want you to pay the following upfront:
    - First month payment
    - Acquisition Fee (usually ~ $500 an non negotiable)
    - Documentation, Registration, License, Tag, and Title Fees (usually ~ $300)

    So, I would have thought even for such an awesome deal ($240/mo), that you would still have paid ~ $1040 up front to cover the costs I listed above.

    Can you please elaborate on this?

    Much appreciated!! Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome back jknast. I'm glad that you've found this forum so helpful. It sounds like the dealer is playing games with you. There really isn't any magic way for the dealership to get you out of your Maxima lease 9 months early. Chances are if you are getting out of your Maxima that early that you will end up overpaying for your new Altima. You would be better off waiting until you are closer to the scheduled end of your current deal to get something new, if possible. As an added bonus, the deals on the 2013 Altima will likely be significantly better several months from now.

    Nissan Motor Acceptance Corp.'s August buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima SL with 12,000 miles per year are .00200 and 60%, respectively for top tier customers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi new_buyer1216. NMAC's August buy rate lease money factor and residual value for a 36-month lease of a 2013 Altima Sedan 2.5 S with 12,000 miles per year are .00200 and 63%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi new_buyer1216. Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36-month lease of a 2012 Altima Sedan S with 12,000 miles per year are .00020 and 53%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi worleygirl. Nissan Motor Acceptance Corp.'s August buy rate lease money factor and residual value for a 39-month lease of a 2013 Altima Sedan 2.5 SL with 15,000 miles per year are .00200 and 59%, respectively for consumers who qualify for its top credit tier.

    I'm sure it's only a matter of time before the incentives that Nissan has to provide on the 2013 Altima improve. the question is how long will the new model honeymoon period last with it? It is very possible that this car's programs will be more attractive in January than they are today, but it is difficult to say for certain what Nissan will do with its future programs.

    You absolutely should negotiate the selling price of a vehicle that you intend to lease. The selling price of leased vehicles are negotiable, just as if you were paying cash for or financing them.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi zi_rah. Nissan Motor Acceptance Corp.'s August buy rate lease money factor and residual value for a 39-month lease of a 2012 Altima 2.5 Sedan S with 12,000 miles per year are .00020 and 52%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • khuzbuzkhuzbuz Member Posts: 55
    We finalized a deal for my brother, who is about to graduate college, and is taking advantage of the College Grad Program. With $2K out of pocket he will be paying $350/month on a 39 month lease for 15k miles per year. Monthly payments include tax, tags etc. Residual is 0.61 and money factor is 0.002.
  • chuck162chuck162 Member Posts: 3
    Can you please tell me What was the sticker price on your brother's car?
  • khuzbuzkhuzbuz Member Posts: 55
    MRSP - $28,980
  • joekor1234joekor1234 Member Posts: 6
    Hi everyone,

    I'm actually looking at a lease on this - 2012 Nissan Altima 2.5 S - with 12,000 Miles per year for 39 months. The numbers I have been able to negotiate towards pretty much line up with your numbers.

    It's for 200/month with 1500 total due at signing. So not 0 down, but the 1500/39 is comes out to $38 a month so it's pretty much a wash (excluding the time value of money, of course). Money Factor is .00020 and the residual is 51%

    I'm not sure if I can do any better than that or not, but if anyone has, I'd certainly love to hear about it as the deal will be done this week!
  • chuck162chuck162 Member Posts: 3
    Thank you. Was there any Dealer Incentive Cash offered to reduce the Sticker price?
  • khuzbuzkhuzbuz Member Posts: 55
    I'm not sure if there were any rebates. I really doubt it since this model just came out in the market.

    MSRP - $28,980
    Internet Price - $28,200
    Final Agreed Upon Price - $26,700 (This is the 2nd vehicle we leased from same dealership)
    MD Tax - 6%
    Tag/Title/Doc Fee - $471
    Money Factor - 0.002
    Residual - 0.61

    Total Out of Pocket - $2,000

    Monthly Payment - $350 for 15,000 miles per year on a 39 month lease.
  • speedman1speedman1 Member Posts: 18
    Test drove both the 3.5 S and 3.5 SV last week and very impressed with the car. I'm stil in the process of negotiating a good deal with the internet sales department of a dealership in my area. (New Jersey). I'm waiting on some lease numbers from them. I figured maybe I could get some helpful info here. So far I was quoted a "special internet " price for the 3.5 S of $24,699. Still waiting on a price for the 3.5 SV. I was told they are scarce because Nissan is still shipping. Based on my research thus far invoice for the the 3.5 is $24,165 so they are close but I still think I could get invoice or below. With that said can you please provide the money factor and reisdual for both the 3.5S and SV? 36 months and 39 months 12,000 miles per year. Also, if anyone recently got a great deal on the 3.5 and can share there experience that would be awesome. Thanks!
  • minothorminothor Member Posts: 4
    I got a very specific/targeted (or maybe not) offer from my dealer and I need your opinions to see how good it is... Here's the deal:

    1. I'm currently on a lease on 2010 Nissan Altima 2.5S w/SL with 8-9 payments left (I got a reasonable deal on it back in 2009)
    2. The dealer is offering me a new lease on a 2012 Altima with the exact same specs as my current one (2.5SL without navigation) for a pretty good price (under the TMV). The price is good because of a rebate due to the 2013 model being released and a rebate due to re-financing with Nissan (and some negotiation).
    3. Now, the kicker for me is the payment forgiveness for all 9 remaining payments and no wear and tear costs (including a scratch on the vehicle from a parking accident) or mileage costs etc. Basically I hand in my older vehicle and pick up the new one.
    4. I pay 0 down on the new vehicle and my monthly payment is even slightly lower than what I am paying right now.

    Questions:
    1. I know the 2013 model is a new generation model and has some significant differences. The 2012 model is almost exactly the same as mine, except for some minor differences and a better CVT. But is the 2013 model worth a huge premium?
    2. What I want to do ideally is take the lease and buy the car out after a year or so by paying the residual value. If I buy the car outright now, they are not offering me any rebates or payment forgiveness. In what situations does it make financial sense to lease and buy during the lease?
    3. Leasing the same car again - what do you think about that?
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