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Nissan Altima Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi enkur. A base 2007 Nissan Altima 3.5 SL has a spread of a little over $2,100 between its full MSRP and its dealer invoice price. You were quoted a discount of $2,210 on the specific car that you are interested in. This looks to be right around dealer invoice, which is a great deal on this car. Just make sure that the dealer you are working with is using this car's buy rate lease money factor to calculate its monthly payment and you're in business. Its January buy rate lease money factor and residual value for a 36 month lease through NMAC with 12,000 miles per year are .00243 and 58%, respectively. Nissan's lease program on this car just isn't that great right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stompman76. So you were quoted a selling price that's $1,967 over dealer invoice. I think that you should be able to do better than that on this car right now. Try stopping by the following discussion to see how much other community members have paid for similar cars lately: "Nissan Altima: Prices Paid & Buying Experience". As far as this car's lease program goes, NMAC's January buy rate lease money factor and residual value for a 36 month lease of a 2007 Altima 3.5 SE with 12,000 miles per year are .00243 and 60%, respectively. Make sure that this is the lease program that's used to calculate your car's monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stompman76. Dealer invoice is a good price for a 2007 Nissan Altima. Just make sure that the dealer that you are working with uses Nissan's January buy rate lease money factor and residual value of .00259 and 59% to calculate your car's monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome liv4gzus. Since you are not completely familiar with exactly how leasing works, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jrub. You really need to find out what this car's selling price is. the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you negotiate a selling price that is as close to dealer invoice as possible and then have the dealer that you are working with calculate your car's monthly payment using NMAC's 39 month lease money factor of .00259 you will pretty much assure yourself of getting the best possible deal on your new Altima.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, Jeff. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5 SL with 12,000 miles per year are .00243 and 58%, respectively. The numbers for an otherwise identical 39 month lease are .00259 and 57%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello petesamprs. Here is the data that you're missing. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Nissan Altima 2.5S with 15,000 miles per year are .00259 and 59%, respectively. The numbers for an otherwise identical lease of a 2007 Altima 3.5 SE are .00259 and 58%. Lastly, the numbers for an otherwise identical lease of a 2007 Altima 3.5 SL are .00259 and 56%. If you were to lease any of these cars with only 12,000 miles per year, their residual values would be 1% higher. You'll have to ask your dealer to find out for certain, but I don't believe that NMAC offers leases with only 10,000 miles per year.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lili1. Nissan's lease program for these cars vary depending upon how long you lease them for and their mileage allowances. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 3.5 SE with 15,000 miles per year are .00243 and 59%, respectively. The numbers for an otherwise identical lease of a 2007 Altima 3.5 SL are .00243 and 57%.

    Car_man
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  • jenp123jenp123 Member Posts: 39
    Hi,

    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).
  • jenp123jenp123 Member Posts: 39
    For a '07 3.5 SL, do these figures make a world of difference in monthly costs? Right now, I am being quoted on a 36 mo, 12k miles. Not sure if it will make that much of a difference if I go lower in my terms.
  • roxy2257roxy2257 Member Posts: 1
    Hi, I am currently looking into leasing and have been reading as much as I can to get a good deal on leasing a 2006 Altima 2.5S but where does the "money factor" figure come from...the Nissan website? I did call the dealer and know that the residual he quoted me on this car is 52%, which I believe is a figure I can only get from the dealer.
    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!
  • maximafanmaximafan Member Posts: 592
    Jenp123, I wouldn't go for this lease deal if
    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!!!
  • jrubjrub Member Posts: 12
    39 month lease, final selling price was around 27000, msrp was 29950. 0 down(first month and plates) 399 month
  • jenp123jenp123 Member Posts: 39
    Well I didn't go for the Altima. Quick turn of events. Thanks for your advice maximafan! I ended getting the same deal as I would have for the Altima but for a '07 Acura TL with $4700 down which includes everything at $350 a month. I much happier because the value of the car is much more and the cost is the same.
  • roy_walkerroy_walker Member Posts: 7
    I lease my current vehicle (2004 Honda Accord), and did not have to pay sales tax. Honda paid it apparently. Was this a promotion they were running (was 02/04 when I leased it)? If so does Nissan offer something like this?
  • roy_walkerroy_walker Member Posts: 7
    Well in Texas Nissan is currently running a tax credit for leasing an Altima.
  • benito_salinasbenito_salinas Member Posts: 17
    Thanks Car_Man,
    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????
  • creepypaulycreepypauly Member Posts: 4
    Like i said before, leased a 2006 altima in Nov. Texas I believe is only 1 of 2 states that charge the sales tax up front on the car instead of taxing the payment amount. In November Nissan paid the sales tax and also gave me a money factor rate of .00025 or .61% interest, 500 cash back for the lease..Plus a 500 cash back for the college grad program, dealer gave 1400 or 1500 off the car..dont recall which it was.. It was a 2006 Altima SL. I already knew about the money factor deal but the Dealer I ended up buying from at first tried to use a factor 10 times but told him that Nissan had that deal..he immmediately changed it with no questions asked
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jenp123. Did you say $500 a month for a Nissan Altima :surprise: . That definitely sounds too high to me. If you provide me with the full MSRP of the exact car that you are interested in I would be happy to use Nissan's actual lease program to estimate what its lease payment would be. For now I will work up a lease on a similar car for you. According to my calculations, if you were to lease a 2007 Nissan Altima 3.5SL with an MSRP of $31,405 and a selling price of $28,915 (dealer invoice) through Nissan Motor Acceptance Corp. right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $404.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jenp123. A 24 month lease of this car will almost certainly have a higher monthly payment than a 36 month lease of it would. While there are exceptions to this rule depending upon where manufacturers provide their lease support, generally speaking the longer a lease is the lower its monthly payment will be. Similarly, the lower your vehicle's mileage allowance is, the lower its monthly payment will be.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello roxy2257. Unfortunately, manufacturers do not provide information on vehicles' money factors and residual values to the general public. I keep tabs on this data and should be able to give you an idea of what the lease program is currently like for the car that you are interested in. You never mentioned how long you want to lease for or how many miles per year you need to be able to drive, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2006 Nissan Altima 2.5 S with 15,000 miles per year are .00016 and 51%, respectively. This car's 12,000 mile per year residual value would be 1% higher. When negotiating your lease on this car, make sure to take the $500 lease cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, jrub. The car that you described has a spread of around $2,400 between its full MSRP and its dealer invoice price. You were quoted a discount of $2,950 on it. This looks like a very good price to me. Just make sure that the dealer you are working with is using NMAC's current 39 month buy rate lease money factor of .00243 to calculate your monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information, Benito. Any option package discount that was included in this car's MSRP was completely paid for by Nissan. It should not have any impact upon the dealer discount that you are able to negotiate. I am sorry to say that you definitely should have been able to negotiate a discount off of this car's MSRP.

    Car_man
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  • benito_salinasbenito_salinas Member Posts: 17
    Thank you Car_man,

    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)?
  • roy_walkerroy_walker Member Posts: 7
    After much searching for the features and setup I want, giving up on my ideal choice, I ended up at:

    $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. :(
  • jmpelletjmpellet Member Posts: 19
    I have been watching this thread and I'm about to turn in my Altima lease and would consider another one for the right price. I just can't see why anyone would pay so much for an Altima. I am look at Accord leases (nicely equipped leather, sunroof, V6, etc) for under $300 per month sign and drive ($0 at lease) and including 5% sales tax in MA, 12k per year for 36 mo.
  • ojorgeojorge Member Posts: 1
    MSRP is $27185 (2.5SL w/XM Connect). Negotiated down to invoice, $25119. Term is 24 month/15K miles, Money Factor is .0028, Residual is $18485 (68%). I'm putting my 2001 Corolla trade in as the down payment/taxes/fees (appraised at $5000). Monthly payment comes out to $225/month.

    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?
  • brunosjtbrunosjt Member Posts: 1
    I configured an Altima 3.5SL on nissan's website that had an msrp of 29,845...what should be the amount the I "talk" the dealer down to? I have never leased a car before and didn't wanna get taken for a "ride" :) I went to dealer briefly the other day and look at a 2.5SL that had a sticker price of 27,000 and was quoted a price of 489 a mo, 0 down, 12k a year for 36 mo....seems awfully high, no? I decided I wanted the 3.5 instead but can only imagine how much they would want to charge me....should I negotiate the 29,845 price I get from the website first then talk down the lease? What would be an overall good price for leasing this car? I have a trade-in worth 4,000....should I mention this to the dealer after negotiating prices to as low as possible??? As I said this is my first time leasing, and I'm a lil wet behind the ears, any advice would be greatly appreciated...THANKS!
  • roy_walkerroy_walker Member Posts: 7
    Like I said, I gave up on the Altima. I went and leased a 07 Acura TSX for $520 down and $366/mo for 36mo 15k (could probably have gotten em down to around 355 or so, but it was close enough). Really is a nicer car than the Altima, just doesn't have the Intelligent key.

    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.
  • adammaxadammax Member Posts: 1
    I am currently looking at 07 3.5 se altima. dealer has quoted me 383/mo 39months 15k miles per year. Can you tell me, good or bad? also whats the most recent rebate/incentive and money factor? thanks.
  • sargondizzosargondizzo Member Posts: 20
    I got quoted $407 for 39months 12k/yr no money out of pocket just plates. They are paying my first month and my last payment on my 05 Altima (260) + taxes and fees. Is this a good deal or am I getting raked? They are leasing me the car at invoice which is 25,200. MSRP is 27,105. Please help!
  • lili1lili1 Member Posts: 44
    Car_man or whoever:

    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?
  • lili1lili1 Member Posts: 44
    car_man or whoever:

    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)
  • garbougarbou Member Posts: 8
    Car Man,

    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.
  • andyhiggsandyhiggs Member Posts: 8
    Hey Car_man, I was wondering what the money factor and residual is right now on a 2007 Altima 2.5S & SL? I'm in Kansas City and am looking for a 36 month lease with 12,000 or 15,000 miles. I appreciate the help. Thanks.
  • bolekbolek Member Posts: 5
    Dear Car_Man
    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!
  • bolekbolek Member Posts: 5
    Dear Car_Man.
    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.
  • garbougarbou Member Posts: 8
    I was recently quoted invoive (20,742) on a 2.5 S w/ conv. package, splash guards, and floor mats. With residual 60% and only the first months payment down at 347.35 per month on a 36 month, 12K miles lease. Is this a good deal? The money factor quoted was .00274. Thanks.
  • bolekbolek Member Posts: 5
    Personally I do NOT consider this a good deal AT ALL. I used to pay (my lease is up next month) 349 (tax included for 24 months 12K with 1st payment and fees paid up front (total - approx 1100) for Altima 3.5 SL with everything (including Navi and Sirius).

    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...
  • garbougarbou Member Posts: 8
    I tend to agree with you, I thought it was slightly high considering the low cost of the car. I have now started looking at BMW's 328i, the MF is .00125 for this month. You can get a whole lot more car for that. Thanks for the advice.
  • eace2063eace2063 Member Posts: 7
    $489.00 seems too high for a 27K sticker price!

    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
  • dpandadpanda Member Posts: 5
    Hello, Just got back from a dealer in Southern CA with this info on a fully loaded 3.5 SE...

    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...
  • eace2063eace2063 Member Posts: 7
    I received another lease quote for the 2007 3.5SL. i was quoted $454.76 for a 39 month lease which means $492.65 FOR 36 MONTHS. This car includes Sirrius Satellite. The dealer told me the 3.5SL comes pre wired with Satellite Radio but to add the radio is extra.

    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?
  • lili1lili1 Member Posts: 44
    Something is not quite right with your figures assuming your TTl + 550 acquisition fee is about 1540.

    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ojorge. Dealer invoice is a very good selling price for a 2007 Nissan Altima. Nissan's March lease program for it is better than the one that you mentioned though. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2007 Nissan Altima 2.5 SL with 15,000 miles per year are .00217 and 69%, respectively. I believe that Nissan's 36 month lease program would actually result in a lower monthly payment than its 24 month program. If you really want to lease for three years instead of two, you should strongly consider leasing for that long now rather than trying to extend a 24 month lease later.

    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.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome brunosjt. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    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.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings adammax. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers 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 this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle 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 these numbers are.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sargondizzo. Dealer invoice is a very good selling price for a 2007 Nissan Altima, especially if the dealer that you are working with is making your first payment on your new lease and your last payment on your old one for you. Just make sure that the dealer you are working with is using Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value of .00249 and 57% for a 39 month, 12,000 mile per year lease of an '07 Altima 2.5 SL to calculate your monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here is the information that you're looking for, lili1. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 3.5 SE with 15,000 miles per year are .00221 and 59%, respectively. The 12,000 mile per year residual value for this term would be 1% higher. NMAC charges a $550 acquisition fee on ever vehicle that it leases. If Nissan is advertising a lease on the Altima that does not charge this fee at lease signing it is likely being added into the vehicle's capitalized cost and baked into the monthly payment.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey lili1. I am not aware of any resource that provides accurate information on manufacturers' current lease programs to the general public. The numbers that I mention in this discussion are definitely right. As hard as it is to believe, I have actually found that the lease calculators that are available on manufacturers' web sites are often not all that accurate for some reason.

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