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Nissan Altima Lease Questions
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There is no negotiating on cap cost as I have the VPP discount for the 'D' plan. The cap cost is great, but their money factor is .00374. Am I the only one here who thinks that it's quite high? Is this negotiable? If I threaten to walk, will they work on it? Thanks a lot!
-Jay
Once again whne consumers use VPP through Nissan it is set by the manufacturer. The dealer can not change what you qualify for. As long as you signing a VPP form and not just taking a dealer's word for it than you will be OK.
On the VPP form you will initial in two places on one page and sign one spot on another page. There will be 4 pages total.
2008 Nissan Altima 3.5 SE fully loaded
MSRP $32,885
Invoice$29,457
Selling Price $29,957
Residual 59%
Miles 15k per year
Term 36months
Money Factor .00239
Balance on my Current Lease $1080 Rolled in to new lease
Monthly payments $459 x 36 + 8.625 tax long island NY
Upfront cost $595 Bank fee + $1426 tax +$120 dmv + First month $459.
Drive off cost $2600
**$30 was added to the monthly payment to cover for the balance on current lease.
MSRP $32,885
Invoice$29,457
Selling Price $29,957
Residual 59%
Miles 15k per year
Term 36months
Money Factor .00239
Balance on my Current Lease $1080 Rolled in to new lease
Monthly payments $459 x 36 + 8.625 tax long island NY
Upfront cost $595 Bank fee + $1426 tax +$120 dmv + First month $459.
Drive off cost $2600
**$30 was added to the monthly payment to cover for the balance on current lease.
You have a good deal. Your numbers are right and so are the dealerships. Think about it if you were financing the same vehicle you would be about $600/mo. If you are comfortable with the payments do the deal the numbers are right.
GP
Here is 2008
MSRP - 30305
Invoice - 27830
Price paid - 28400?
Cap reduction - 0 or 2000 (my trade-in is worth about 2000, but i've heard its not a good idea to put any money down if possible?) I have a lease calculator, so once I know resid and MF, I can play with the payments.
2007
MSRP - 30560
Invoice - 28036
Price paid - 28400?
Would much appreciate the Residual and MF for the 07 and 08 3.5 SE. Also, I have perfect credit to get the lowest MF possible. Thanks much...new to the board and love it!
No way I would be rolling in with only 3 payments left.
Also, Cars Direct is selling this car for Invoice in our area. So you should be able to get it a bit below.
What fees does Nissan charge for deposits, acquisition fees, disposition fees and mileage overages?
My Maxima is a loaded SE with factory XM radio etc. Current Buyout from NMAC is already less than 19000. Maybe I have equity!.
I have been very loosely shopping for a few months now. Seems to me that if you are looking for a better "value" lease, the Murano SL will lease better than the new Altima. The Money Factors are super low, plus there is a much greater differential between the MSRP and the actual selling prices which are easily in the Invoice + or - 500 range right now.
I lease a lot of cars and typically unload them when they have 2 to 3 months left. In my experience, if you want to turn in early without playing the negative equity game, you are better off leasing a Competing brand. The competition has more incentive to buyout your lease to get you into one of their cars because they know that if they lose the sale eventually you will be back at a NIssan dealer to turn in your car and will end up with another Nissan. Same logic behind Nissan usually offering early termination.....that prevents you from shopping other brands and just turning the car in.
I'm thinking the other way around (at least w/ my purchase). I got a much better deal on my '05 Altima trade in value from a Nissan dealer than a Honda dealer.
Car_man
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NMAC's buy rate lease money factor and residual value for a 36 month lease of a 2007 Altima SE with 12,000 miles per year are .00175 and 56%. The numbers for an otherwise identical 39 month lease are .00205 and 55%.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Your recent posts give NMAC rates through Dec 3 but since that has passed, I am curious what the new ones are. I would be looking at an 08 Altima 2.5 or a 2.5S with 12,000 miles for a 24, 36, or 39 month lease. What would the money factor and residuals be for those scenarios? Is it still possible to lease an 07 if they are in stock? If so, could you post those numbers for the same scenarios?
(Please also see my post regarding the Dodge Nitro lease rates in the Dodge Caliber or Jeep Liberty forums...). I am looking to get a new car asap so a quick response would be MUCH appreciated. Thanks so much - you rock!
First off you won't get a better deal on a 2007 because it is a year older and the residual value will be higher.
National add for Nissan on the 2008 2.5S Altima sedan ... autow/ splash and matts
$2,999 down $239/mo for 36 months plus t,t,l....
GP
Thanks.
2008 Altima with SL package
15,000 miles per year
Zero dollars down
For 39 months: $351 per month + tax
For 36 months: $363 per month + tax
I did my own calcs assuming a MF of 0.001 and residual ranging from 0.6 to 0.54 (I assume the residual based on 15K per year will be around 0.55 or so), and the invoice based on this particular package and the KBB invoice value of $23,500 and came up with about 360-370 per month (including 6.5 pct tax...this equates to 337 to 350 per month before tax).
Car_Man: Please take a look at these numbers and tell me if they seem reasonable based on what you know.
I recieved the following offer today:
Altima Coupe 3.5SE (Fully Loaded)
36 months 12000, miles per year
MSRP: $ 32250
Selling Price: I am not sure, guessing less than $32250
Total Out the Door/Drive Off fees: $1500 + First Month payment $ 410 ($1910)
Monthly payment: $ 410
CarMan and others, please let me know if these number are good. Thank you.
2008 Altima 2.5 with SL package
Got tinted windows thrown in for free
36 month term, 15,000 miles per year, $0.15 per mile overage
Capital Cost: 24,400
Acquisition and doc fee: 1,190 total (each was about 595)
Net capital cost: $25,600
MF = 0.00175 (I qualified for Tier 1 credit...if I didn't MF would have been 0.00184 or higher)
Residual = 60%
No money down
OTD price: $373 (first month's payment plus tax)
Monthly payment: $351 + 6.5 percent sales tax
If you're in South Florida I would highly recommend this dealership. Did the entire negotiation via e-mail, and there were zero surprises when I got to the dealership - spent about 1 hour total there to inspect the car, get credit checked, and sign the papers.
I'm confused out here in Chicago...help!!!
I went to mid city Nissan - traded in my 2001 toyota corolla with 71K (base model no options) - gave me $3000 for trade in, put $500 down including first month payment, and got lease for $230/mo x 36months for 2008 Altima 2.5 S with tech/ convenience package. Got them to throw in first oil change, clear coat paint protection every 6 months x duration of lease.
I'm not sure if this is a great deal - can others comment?
Dan
I went to mid city Nissan - traded in my 2001 toyota corolla with 71K (base model no options) - gave me $3000 for trade in, put $500 down including first month payment, and got lease for $230/mo x 36months for 2008 Altima 2.5 S with convenience package. Got them to throw in first oil change, clear coat paint protection every 6 months x duration of lease.
I'm not sure if this is a great deal - can others comment?
Thanks
I need it to lease one asap.
48 and longer leases are almost always pointless.
Thanks!
NMAC's current numbers for a 36 month lease of a 2008 Nissan Altima Coupe 2.5 S with an automatic transmission are .00242 and 58%. The 39 month numbers are .00285 and 47%. The 48 month numbers are .00285 and 44%.
As you can see, the Sedan's lease program is much more attractive (but in my opinion the Coupe is cooler ).
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Lease term: 39 month
Miles needed per year: 12,000 or 15,000
Model: Hybrid, completely loaded, MSRP 32,000 I believe.
Trade in value: 0
Deposit: $3000
I'd like to know both what I'd be paying a month and how much my monthly payment decreases with each additional $1000 (past the $3000) that I would put down.
Thanks!
brendan
Could you please provide the MF & Residual for 24 & 36 month term on the 2.5S Altima Sedan with CVT? Mileage would be 10 or 12K per year. Thank you.
Details
2008 - Altima 2.5S w/ SL Package
(Includes other minor misc options - Emerg. roadside kit, wind deflector, etc.)
Lease Term: 24 Months
Total Out of Pocket Down: $2,423
Monthly Payment (inc. tax): $254
Mileage: 12k/annually
This includes a single tire replacement and free oil changes for life of lease.
Sound reasonable?
Whats the MF?
Residual? I think its 70%
Whats the breakdown of the up front, first, tax, other?
It is like pulling teeth to get this information from these guys. I have the salesman working on it. From what I understand (and anyone can tell me if I am wrong) is that if you are going with NMAC (Nissan Finance) MF and Residual are pretty standard. Still want to know what they are though.
Up front is Tax, Bank Fee, Motor Vehicle Fees, 1st Month Payment.
I am working to get the exact numbers on everything to see what I am applying as a cap cost reduction. Will let you know once I have everything.
The Residual is 70% and the MF I think is .00140.
There should be no teeth to pull to get the MSRP and Selling price of the car you are leasing......
The payment seems low but there is probably a cap cost reduction you are paying up front...
MSRP is $25,775
Selling Price (Car w/options and destination fee) is $23,770
For reference, Invoice is $23,975
Still, the numbers are pretty good. You COULD get a few more hundred off the price if you shop it a bit, but if you like the deal you arent being ripped off. They are just moving the money around. You could have them put 1000 back into the monthly and still be under 300. Or easily get 15000 per year instead of 12000.
Good Luck!