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Nissan Altima Lease Questions

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  • suv800suv800 Member Posts: 41
    I just got a quote last weekend for a 2013 Altima SV 2.5L $302.00 includes NYC tax, plus DMV. So your price of $298 with your $3000 trade-in is like $382.00 per month, seems kinda high.
    I am still not taking it yet because I saw Nissan's news reducing the selling cost from 585-4000
  • suv800suv800 Member Posts: 41
    Hi pstone05,
    According to your msrp and selling price, your monthly lease should be at $321.15 plus sales tax.
    OTD should be $321.15 + tax + DMV & fees ($230.00)
  • commofficercommofficer Member Posts: 50
    I wanted to follow up on my post and your reply for the sake of others out on the market. Unfortunately I leased the car before your reply but there is some humor in that. The reason I was getting this car was that my wife's 2011 Hyundai Elantra was totaled and it was a lease but we didn't put any money down on that one. The payout we received for that car paid the loan off and almost returned all the money we had put into it. Basically we haven't had to hit any of our own money for the new car or the down payment so I am looking at it as a no loss no gain situation except she gets a bigger car and the payment went down per month. Sure it isn't great logic but I am over looking that part for now.
    Anyway the Altima deal. (36mo/12K year) 2013 Altima 2.5 SV Black with tan interior, puddle lights, floor mats, trunk sub-floor organizer with first aid kit and splash guards. MSRP 26,000 Price paid $23,474. $2500 down +Tag, Title and License of $915.
    36 Monthly payments of $204 with residual of $15,600 at the end of the lease.

    Seems pretty good on my end but what are your thoughts?
    Thanks again
  • dt12181984dt12181984 Member Posts: 3
    The SL I leased was fully loaded with everything. The SL retails for around $31k so the lease would be higher than the SV., The $298 included everything, I didnt lay out a penny. I thought it was a good deal since my trade-in had alot of issues and I doubt it was worth $3k. They originally offered $2k and a higher lease offer then countered back with $298 per month and they upped the value of the trade in, I guestimated it was around $2,500-$3,000. Bottom line my trade in wouldve failed inspection so I was glad to get anything for it. I thought it was a fair-good deal.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Paul. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s May buy rate lease money factor and residual value for a 24-month lease of a 2013 Altima Sedan 3.5SL with 15,000 miles per year are .00065 and 67% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00065 and 59%.

    If you're interested in a V6 Altima, you may want to price out a lease on a Maxima as well. I have found at times in the past that the difference in payment between the two is often very minimal.

    Car_man
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  • matlevmatlev Member Posts: 2
    Hello,

    Yesterday I traded my 2010 Altima coupe 3.5SR for a 2013 Nissan Altima 4dr 2.5SV.
    The coupe had a payoff of $17,500, 36,000 miles and overall was in good condition. The lease on the coupe ends August 2013.

    After a long negotiation process the deal on the new Altima I got is:

    0 down.
    $350 a month (after CA tax) for 36 months. (35 payments)
    Residual Value: $15,006.00 (If I want to purchase the car after lease is over)
    Dealership appraised the coupe for 16,475.

    More info:
    My credit score is 605 and I had a loyalty letter from NMAC. (I know its almost impossible to get a lease without normal credit)
    I graduated from collage within a 2 years and I had a 500 rebate. from NMAC.

    Did I get a good deal?

    I hope this helps others in their purchasing experience.
  • samalisamali Member Posts: 12
    *I'm reposting this here since I didn't see any responses in the 'prices paid' section- and am eager to know if my dealer wasn't overly exaggerating how good of a deal I got.

    Here are the numbers!:
    Sticker Price:$24,460 MSRP) ---after dest charges = $25,860
    Agreed upon Value of Vehicle:$21,790+$595 acquisition fee
    Gross Capitalized Cost=$22,385

    Downpayment (cash)= $500
    Trade in= $600 (old 96 accord w/ over 250k miles and unable to pass smog)
    Rebates and non cash creds=$375
    SUM TOTAL=$1,475 due at lease signing

    Residual Vale=$15,092.20 or 59%.
    Total Monthly Payment (includes tax)=$225.73
    (--Bumping up to 15k miles a year brought up total monthly payment from $217 orig)

    What do you all think? Could it have gotten better? The dealer said he was basically 'givin it away' as the last day of the month-and I established good rapport w/ the dealer. I'm happy I was patient because I was originally getting similar offers for the BASE Model!

    Also free car washes (don't know how long this will hold up) for duration of lease
  • mawjawmawjaw Member Posts: 1
    I'm looking to lease a 2013 Atlima 2.5SL w/Tech Pkg.

    Does anyone know the May 2013 MF & Residuals for this vehicle
    at 12,000mi & 15,000mi?

    I was quoted the following but when asked another dealer to match,
    they said that the wrong residual was used...

    Lease Term: 36
    Total Payment: 349.00
    Out of Pocket: 0
    MSRP: 30,785.00
    Residual: 17,855.30
    Mileage: 15000

    Please help....Thank you!
  • darb77darb77 Member Posts: 1
    Carman

    Got a lease quote in nj. $290 per month for 36 months and 12k miles. 1000 down and dealer will make final lease payment on current car (285$). Dealer is also adding a sunroof to the car.
    Is this a good deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi darb77. It would be easier for me to evaluate this deal if you were able to provide me with this car's MSRP and selling price. Let me know and I'll tell you what I think.

    Car_man
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  • drewdibdrewdib Member Posts: 1
    I leased a new Altima 3.5SL yesterday and feel like I got a great deal. Car is the top model with the added Technology Package, splash guards, underbody lighting, and floormats. MSRP of $33,030.

    36 month lease, w/ 12K miles per year, and $0 due at signing, and $595 acquisition fee. Payment is $364 per month (higher because of TX treatment of sales taxes on leases). First payment was included, so I only make 35 payments.

    Lease worked out to 60% Residual and .00016 money factor. Very pleased.
  • jennyl5jennyl5 Member Posts: 2
    Hi drewdib, Do you mind sharing the name of the dealership you got your deal at and where in Texas it's located? Thanks!
  • rj44rj44 Member Posts: 8
    edited May 2013
    Looking at 36 mo 15,000 miles/year lease for an Altima 2.5 S

    I was offered $228.00/mo with $1,000 down which includes 1st month lease payment. Price includes tax, fees, registration.

    Vehicle price $20,500
    Residual $14,268
    MF .00103

    They also offered me $7500 for a 2007 Altima S with 98,000 miles.

    Can anyone tell me if this is a good deal?? Thanks!
  • rj44rj44 Member Posts: 8
    edited May 2013
    Car_man

    Can you please let me know if the lease offer is good deal? Thanks!
  • badacepmbadacepm Member Posts: 3
    edited May 2013
    Waaay better than the deal I was offered with D plan in the Ann Arbor area:
    3.5SL w/ tech pkg and Nav pkg, 36mo lease, 12k miles/yr
    $390/month, $650 at delivery, .0011 money factor
  • emc17emc17 Member Posts: 26
    Mr. Car man: my 2010 Altima lease is expiring soon and I am considering a 2013 Altima 2.5 sl with tech package. I have an excellent credit score and I am a loyal Nissan customer. The vehicle MSRP is $31.065.
    What do you think my payment should be on a 36 month lease with 0 down.
    Thanks for your help!
  • jaysmizzjaysmizz Member Posts: 1
    I am trading in 2010 Altima SL 9 months before lease is up. After leaving they called me and offered me a 2013 Altima SL for $3000 down and I'll pay $305 per month. I currently pay $247 per month on my 2010. Should I wait till my lease is up and hope to get a better deal? Or is this a good deal? Both cars have everything but navigation. Thank in advance for your help
  • badacepmbadacepm Member Posts: 3
    Honestly after shopping around, the best deal I could get with a C/D plan was $375mo with 0 down, 12k/yr, 36months for a 3.5SL with tech.

    I then walked into a Lincoln dealership and they gave me 429/mo, 0 down on 24mo lease for a new MKZ. It includes all maintenance and free vehicle usage for any maint. So we went with the MKZ.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rj44. The money factor that you were quoted is correct. It's difficult for me to evaluate the selling price of this car without knowing its MSRP though. Do you have that number?

    If you haven't finalized the deal yet, you might be interested in the fact that Nissan introduced $500 bonus cash on this car for the Memorial Day weekend.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi emc17. This car has a spread of around $2,500 between its full MSRP and its dealer invoice price. There's a $375 cash incentive on leases of this car in certain areas. Since I don't know if you are in one of them I will not include it on this deal. I will however include the $500 Memorial Day bonus cash.

    According to my calculations, if you were to lease a 2013 Altima Sedan 2.5 SL that has an MSRP of $31,065 and a selling price of $28,565 through Nissan Motor Acceptance Corp. right now for 36-months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $336.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jaysmizz. You definitely would be better off waiting until you are closer to the scheduled end of your current lease to get something new.

    Car_man
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  • rj44rj44 Member Posts: 8
    edited May 2013
    Car_Man I posted this a few days ago. Can you tell me if this is a good lease? Thanks

    Looking at 36 mo 15,000 miles/year lease for an Altima 2.5 S

    I was offered $228.00/mo with $1,000 down which includes 1st month lease payment. Price includes tax, fees, registration.

    Vehicle price $20,500
    Residual $14,268
    MF .00103

    They also offered me $7500 for my 2007 Altima S with 98,000 miles.

    Can anyone tell me if this is a good deal?? Thanks!
  • max2k10max2k10 Member Posts: 2
    Car_man is this a good deal. Dealer in NJ offering my daughter an Altima 3.5SV with spoiler, mats, splash guard and something else for $1700 total out of pocket and $308 a month. She is trading in her Civic lease and they are rolling the remaining $800 into her new lease. She qualified for tier 1 and money factor was . 00033 and residual 60%. I don't know the purchase price as this was a last minute deal and are suppose to go sign and pickup tomorrow Memorial Day. Please let me know what you all think. Definitely value your opinions and expertise.
  • steen013altimasteen013altima Member Posts: 34
    i bought a 2013 altima last august. I am in the market again for my kid. so does anyone know when the 2014 comes out. ? any release date given on any site.

    thanks.
  • steen013altimasteen013altima Member Posts: 34
    edited May 2013
    2013 altima 2.5S

    MSRP 24,105

    Invoice 22,236

    dealer price 18,441

    I believe this to be a real good price , it also includes freight.

    A few QUESTIONs. -

    1- I know that msrp is the actual sticker on the car, but what does "Invoice" price mean ?

    2- Is "freight" the same thing as "destination"charge ?
  • steen013altimasteen013altima Member Posts: 34
    Im looking for the best price, and it does not make a difference where the dealer is.

    I have no problem shipping a car, basically you can ship a car within the same region, like north east to south east , or from colordao to PA as an example, cost is approx 800-1000 (you can get it less, but if you want a carrier to pick it up, you have to offer more, auto carriers work like an ebay sytem, highest prices for a route get picked up first.

    now that thats a given. so even with that premium on the car, Ill figure it later. does anyone know of a dealer with the best prices.

    ive found a dealer in MD called fitzmall with some low prices, like selling at 80% of msrp, does anyone have a dealer, automall that is comparable or Better (even in florida) ?

    PS- even with the premium of shipping its cheaper than buying where I am in florida.

    thanks anyone in advance.
  • carguy144carguy144 Member Posts: 6
    That seems really high, payment should be low to mid $100s.

    It seems like you all are getting quoted crazy payments on an Altima.

    I leased a Maxima SV with cold and monitor (everything except nav, awesome Bose stereo) which stickered at $39,500, negotiated $31,000. My lease was $0 out of pocket except first mo payment and registration fee of $100, payment is $285 a mo plus tax ($299 total).

    Based on my numbers your Altima lease should be more like $135 a mo. Think about it, why would you pay $228 a mo, thats half the vehicles value over 36 mo. Unless the buyout is $8000 its not a good deal.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rj44. I already replied to your previous post here:

    http://townhall-talk.edmunds.com/direct/view/.ef9dd85/1907#MSG1907

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks max2k10. The money factor that you mentioned is perfect. It's difficult for me to give you a detailed analysis of this deal without knowing what the MSRP or purchase price were, but I can tell you that $308 per month for a V6 Altima with negative equity rolled in looks reasonable to me.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi steen013altima. The simple definition of dealer invoice is that it's the price that the dealer pays for the car. Before everyone jumps on me, I realize that there's lots of credits and charges that appear on top of invoice. On a high volume vehicle like the Nissan Altima, I always base the selling price that I offer upon a couple hundred dollars over invoice minus any available cash incentives.

    Freight is indeed the same thing as the destination charge. It is essentially part of the vehicle's price because everyone pays it. I always find it silly and deceptive that manufacturers break out destination.

    Car_man
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  • max2k10max2k10 Member Posts: 2
    We actually picked up the car yesterday. Total out of pocket was $973 and $299 monthly payments including tax for 36 month and 12k a year.
  • rj44rj44 Member Posts: 8
    Hi Car_man. The MSRP is $23,780.
  • rj44rj44 Member Posts: 8
    Carguy144 sounds like you got a great deal.

    Can you please post your money factor, residual and MSRP of the car?

    Thanks
  • steen013altimasteen013altima Member Posts: 34
    edited May 2013
    whats the lease payment, I have 800+ credit score (tier one ) and heres the price of the car, I do not want to put any money down. (ill pay tax, title, registration out of pocket)
    heres the car..

    2013 altima 2.5S

    MSRP 24,105

    dealer price 18,441 (the price I am buying it at)

    whatever the money factor is at tier one, I will get (anyone know what it is now. I was told .00103 (equates to about 2.5%)

    and the lease is for 39 months 12K miles (so no extra charge for mileage to be added in).

    and residual value is i believe 60% of msrp = 14463

    and I know whatever the figure is (rental plus interest) it is plus tax, but i can do that.

    thanks in advance.

    can anyone figure it , i always get messed up.

    thanks.

    ps- thank you car guy for your above answer #1919 to my post #1914.
  • steen013altimasteen013altima Member Posts: 34
    edited May 2013
    car guy how do you figure a payment of 135 mo.

    i figured it this way with rj44 numbers.

    depreciation or rental fee is price (adjusted cap cost) 20500 - residual value of 14268 / 36 = this equals 173

    the finance fee is ..adj cap cost (price) 20500 x money factor of .00103 = 21

    173 +21 = lease price of 194.

    this is on a std 36 month lease with a 12k mileage, there is a premium for 3K more per year (15K) so the figure of 228 seems to be accurate.

    but carguy, I like to learn, how do you figure it to be 135.

    how do you calculate 135 mo.
  • steen013altimasteen013altima Member Posts: 34
    if your getting .00033 mnoney factor,,grab it,,,thats less than one percent .00033 x 2400 =0.79%.

    I spoke to a few nissan delaer and money facotr for tier 1 was .00103 (which is 2.47%. so if that number is real, grab it. no negotiate your price (adjusted cap cost ) and number fit in the formula.

    all I can say is wow .00033 .79%
  • steen013altimasteen013altima Member Posts: 34
    this is where I always get mixed up.

    when figuring a lease do you use the price you pay for the car (adjusted cap cost) or Msrp.

    the formula I have is to use the adjusted cap cost when figuring the rental fee and the finance fee. and the msrp does not get used in the formula.

    of course money factor is used when multiplying with adjusted cap cost to figure monthly finance fee....and residual value is used and subtracted from adjusted cap cost before dividing by number of months to achieve rental or depreciation fee. add up the two fees and you have a lease payment.

    rental fee = adj. cap cost - resid value / # months in lease.
    finance fee = adj. cap cost x money factor.

    add two figures together = lease payment before monthly sales tax.

    anyone do it another way or same way,

    thanks,
    steen.
  • kyfdxkyfdx Moderator Posts: 234,734
    edited May 2013
    The MSRP is used to calculate the residual..

    Residual = MSRP X (residual percentage)

    After the residual amount is determined, then the MSRP is not used again in the formula..

    Edmunds Price Checker
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    Did you get a good deal? Be sure to come back and share!

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  • carguy144carguy144 Member Posts: 6
    $31,000 car vs $19,000 car, I dont know, seems way too high to me. When it comes to leasing I go for best bang for the buck, regardless of make or model. If youre gonna get an Altima at $250~ a month, you might as well buy and not lease.

    With the low rates you could purcase an Altima for not much more than leasing
  • rj44rj44 Member Posts: 8
    $19,000 financed for 60 months at 3% plus sales tax would cost you about $370/mo. Quite a big difference compared to $228 for 36 mo lease.
  • emc17emc17 Member Posts: 26
    Hi car man, I would like to know if this is a fair deal on a 2.5sl with navigation, spoiler, external ground lights and illuminated kick plates. MSRP $31.560.
    The dealer wants $675 cash due at signing and $359 month tax included for 36months, 12.000 miles.
    I still have 3 payments left on my current Altima lease which the have taken care of.
    Should I wait till the end of my lease, or this is fair enough for this car.
    Thank you!!
  • steen013altimasteen013altima Member Posts: 34
    i found fitz mall in MD selling 2.5S for 19641 (msrp 24105) incl remote start and car mats..
    well this is 81.5% of msrp...

    DOES ANYONE know of a dealer in usa with better prices.

    and 2.5SV $20937 (msrp 25435) incl carpeted mats. this is at 82.3% of msrp.

    so anyone know of a dealer anywhere in USA with better selling price to msrp percentages.
  • faberafabera Member Posts: 6
    Why would you pay $228 a mo on a $19,000 Altima when you can currently lease a $36,000 G37X for $299 a month?

    Again, lease support must be weak on the Altima, look at other options, you can get MUCH more bang for your buck.
  • steen013altimasteen013altima Member Posts: 34
    its $71 a month, which annualy is $852 which is a nice cruise. so enjoy your upgraded car ride, while i drive my altima and for one week a year enjoy a FREE vacation with the money I am not spending on a G37.

    to go further using your logic, well for $399 you could drive a XTS cadillac, and on and on it can go.
  • badacepmbadacepm Member Posts: 3
    I agree Steen013. The base altima isn't exactly riding in style. I compared the prices for 3.5SL were so high I ended up with an MKZ for about $40/mo more but included maintenance and only 2 year lease instead of 3. :shades:
  • rj44rj44 Member Posts: 8
    edited June 2013
    The G37 with premium pkg is $299/ mo with $2500 down and 10,000 miles/yr .25/mile over. Plus a $700 non refundable acq fee.

    With zero down the lease goes up to $375 plus tax. After taxes the lease payments would be close to double the payment when compared to the Altima. It's a low mileage lease so you'll have to add $1500 at the end of the lease if you drive 12,000 a year.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, rj44. OK, you were given a selling price of $20,500 on a 2013 Nissan Altima Sedan that has an MSRP of $23,780. That's an excellent selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi emc17. Did the dealer tell you what this car's selling price is? That would make it much easier to evaluate this deal. At first glance, $359/month for a 2.5 Altima is not cheap, but I haven't worked up payments on every Altima variant so the selling price would help.

    Car_man
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  • faberafabera Member Posts: 6
    Money down is for amateurs, that 2-3 grand should be erased if you negotiate at all. You have to look at the cap cost in the lease .

    As an example the current Altima advertised deal is 36 mo at $199 a mo with $2400 down on a unit that MSRP's at $23,925. Net cap cost (final purchase/lease price) $20,232. I know around here you can get a base unit for around 19k if you negotiate. That means no money down except tax, title, license, and you should be able to walk out door with advertised payment (prolly little lower) minus the $ down.

    Either way Altima lease support is aweful, even a Nissan dealer told me that, told me July 4th deals would be much better.
  • faberafabera Member Posts: 6
    Oh P.S. Turning a lease in at lease end, and pying fees is also doing it wrong.

    I trade my leases for new lease (to any dealer) well before lease is up. Every lease has a buyout amount that changes every month as you make payments. You can take your vehicle and trade in just like you would if you had a loan, and theres no penalty.

    Trust me, Im on lease #15 over past 10 years between wife and I.
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