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Nissan Altima Lease Questions
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Car_man
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You never mentioned the selling price of the Altima 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 give you my opinion of this deal if you let me know what the selling price is.
Car_man
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After much researching and talking to some sleezy salespeople, I finally found a deal worth noting. For a '07 Altima 3.5SL with Tech PKG, Sun Roof Deflector, Floor and Trunk Mats, and Splash Guards (Freight Included) would be $28,915) This is below invoice. This is from the Herb Gordan Nissan in Silver Spring MD.
For Leasing rates, they could be better but with $0 down it would be $503 a month. I would have to put down $4700 a mo. to get around my target monthly rate of $350. Does this seem like a fairly resonable deal. At the moment, the lease rates posted for Nissan are through the end of Feb. so nothing major will be having for the Presidents Day Sale. What do you all think- should I go for it- the $4700 would cover everything, first payment and all associated fees).
I am trying to run the numbers on the spreadsheet from carbuyingtips, but I need the money factor figure. Also, do I calculate the residual value from the dealer's MSRP, or from my negotiated selling price, which I am listing as $1 above invoice, as suggested. Thanks for your help!
I were you. I guess for the time being the
lease rates are not very good for an '07 Altima. That certainly could change in a few
months. Just to give you a little apples to
apples comparison, I had to get a new car back
in July when my '02 Maxima was totalled in an
accident.
I decided on leasing a 2007 Lexus RX in August.
Now, we're talking about a vehicle that has a
$40,000 MSRP. I was able to lease this vehicle
for $520.00 a month with $3500 down. And even
when I look at what people have been getting
lease-wise on a Lexus RX at this time, the deals are even better than what I got back in August.
So, you might want to hold off on leasing the
'07 Altima for the time being, because you're
going to be paying over $500 a month for a vehicle that's almost $8,000 less than what I
ended up financing my lease for on my RX.
Just be very careful!!!
The MSRP of the 06 Nissan Altima 2.5 S "special edition" was
21,950. This was the sticker price, and it already included a discount on stuff that the "special edition" included.
Again, I gave $600 down, and my 42 month lease is at 230.99 with 12k miles a year.
A good Deal????
Whatever you do, don't make a $4,700 down payment on your lease. I always advise consumers against making large down payments on leased vehicles. Those who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
Car_man
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Vehicles' residual values are based upon a percentage of their full MSRPs, including destination charges and the MSRPs of any options that can be residualized.
Car_man
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I believe they figured out my terms at a selling price of around 19k.
Does this sound right? $230 for 42 months with $600 down only (no other down payment, taxes, etc)?
$500 down $410/mo for 36mo 15k lease for a 2.5SL w/:
XM connection
ABS
Mats
This was just not a good deal, since I could get an 07 Acura TSX for the same exact terms $500 down, etc. at $370 mo. Really a shame that I am having to settle for a "better" car even though it is not my first choice.
I really wanted a 36 month lease, but the dealer said that NMAC doesn't have problems extending the leases up to a year. Also, my calculator comes up with a lower number, but I don't know where the difference is in our negotiations. Any comments or advice?
If you are dead set on leasing an Altima, I was looking at around $408-410/mo for a 2.5SL w/ XM, ABS and Mats. Nissan is just either really desperate to make lots of money on the new Altima, or just stupid.
36 mo. lease for 1) 12,000 miles 2)15,000 miles
What is Nissan's latest residue value for each?
What is Nissan's money factor for each?
Should acquisition fee be $0.00 since the Nissan site estimate show 0.00 for that?
1) Is the Nissan lease money factor published/public data to verify against?
2) reason for asking 1) is the Nissan web estimator produces monthly payment figure drastically different/higher than using you previous money factor & residue %.
3) Does last day Feb money factor differ from 1 March factor to wait one more day?
3)
I am looking to lease a 2007 Altima 2.5 S in the next two weeks 12K miles and 36 mos. Do you have the current (March)figures of:
1. Money factor
2. Residual Value
3. Also, do you know if there is an acquisition fee and/or security deposit due upon lease initiation?
Thanks in advance.
Can you please provide the residual and money factor for 3.5SL altima (with navigation)?
Would you also know the rates for the Altima Hybrid?
Thanks a lot!
I forgot to add that I am interested in the "best" program currently available which the dealer portrays to be the 39 Month. What is your opinion on that? What are the rates (residual and MF) on Altima 3.5SL with Nav. (and everything else)36 and 39 Months, 10K and 12K.
Thanks Again!
P.S. - I would also consider Hybrid so if you have those rates I would appreciate them as well.
Currently I researched ather cars and for approx. 380 (+tax and fees only)) you can get Acura TL. You can not possibly compare it to 2.5S. Yes - you don't get the smart key - but you get so much MORE for your money. I Love my Altima but I will not pay today's lease rates for it - I will probably end up buying the new one or go with the TL...
I've received 4 different lease quotes from dealers on the 2007 3.5SL. The deal included all taxes, bank fees, no money down except 1st payment, registration and title.
The lease is for 36 months, 12K miles. The quotes are as follows:
1st dealer $429.00 per month no added features. Standard 3.5SL.
2nd Dealer $430.50 per month with Technology Package, rear spoiler and some type of traction package.
2nd Dealer also offered $386.77 for the 3.5SL with no added package.
3rd Dealer offered $399.79 for the 3.5SL no added package except for a Sunroof Wind Deflector I asked for. They mentioned that they ordered it with ABS but this car comes standard with ABS.
The $400.00 for a base 3.5SL sounds about right to me. The one that offered me the car for $386.77 was asking for $400.00 down payment. If you divide $400 by 36 months it will come out to $11.11. if you add $11.11 to $386.77 you get $397.88 so it is close to the $399.79 I was quoted from another dealer.
These are the games they play to trick you into thinking that they are giving you a better deal. Another Dealer will probably take the $400.00 per month lease and divide it by 39 months to come up with $369.92 per month. This makes the lease look more attractive since it is $30 cheaper but its the same as paying $400 for 36 months.
I'm in NY so I would suggest $400.00 lease for the 3.5SL as is and up to $440.00 for added features. Make sure this includes the taxes, bank fees and only pay the 1st payment and registration. Actually, the lease offer for $400.00 they were only asking me for the registration which i thought was odd. They always ask for the 1st month payment up front.
Good Luck!
E-man
MSRP = $32,715
Adjusted cost = $30,167
MF = .00221
Term = 36
Residual = 60% ($19,629)
Quoted me a payment of $402 ($434 w/tax)
This was with $2000 down, assuming that included TTL, conversation didn't get too far...However, in his caluclations it seems that he did not subtract my downpayment from the adjusted cap cost so I don't know...With that I caluclated my payment should be in the $369 range...
Anyone, have a quote on a similar car, I also heard that there is a "monthly special" on a 24 month lease giving a 70% residual...
Any info appreciated...
Also, anyone know of any junk fees to watch out for...
I thought the price was too high and the dealer said that he could not understand how another dealer quoted me $430.50 per month with Navigation System, Satellite Radio.
These deals are no money dwon except 1st payment and registration. The taxes, bank fees are all included in the payment.
What are other people paying to Lease the 2007 3.5SL?
Technically speaking, adjusted cost is defined as you negotiated price by applying a discount to the MSRP plus let's assume 1550 (the TTL + acquisition fee ($550)), minus the $2000 down. That is the figure to apply the MF and residual % to. It should come out to be more like $390 already including tax.
At the end of the day, the only figure you want to know to judge how good a deal is what is you discounted price off the sticker before any other stuff is added.
By the way, are you doing 12000 miles per year and that is why the MF looks low and the residue is not 59% unless those are the March figures.
I see that you are considering trading in your current car when leasing your new one. There's nothing wrong with trading in vehicles when leasing, but it would be in your best interest to have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making large down payments on leased vehicles. Those who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
Car_man
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Always remember that the selling prices of leased vehicles are negotiable, just as if you were going to pay cash for or finance them. If I was in the market for a 2007 Nissan Altima right now, I personally would try to shoot for around $500 over dealer invoice.
There's nothing wrong with trading in your current vehicle when you lease a new one, however it would be in your best interest to have the dealer that you are working with cut you a check for your trade rather than using the proceeds from it as a down payment for your lease. Consumers who make large down payments on leased vehicles risk losing them if their car or truck is totaled in an accident or stolen and never recovered.
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Nissan really has not been providing much in the way of incentives on the 2007 Altima. It does not currently have any cash incentives on it and it just introduced its first special financing rates on it a few days ago. Nissan is now offering 3.9% financing for 3 years, 4.9% for 4 years and 5.9% for 5 years on the '07 Altima. It's lease program isn't great either. If you were to lease a 2007 Nissan Altima 3.5 SE through Nissan Motor Acceptance Corp. right now for 39 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00249 and 58%, respectively.
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