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Nissan Altima Lease Questions
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Comments
However, because I pay AMT, I am not eligible if I purchase.
I have a negotiated cash price on a car, but am now thinking that maybe I should lease it instead and reduce the price by the credit (given that the leasing company gets it).
Am I missing anything? Has anyone had luck doing this?
2008 altima 2.5s standard model with the cvt transmission
metallic jade
39 month lease
$300 down
$658 back to me to pay off my other car
gap insurance included
1st payment included
269 + tax a month
I don't know the other numbers yet I did the deal last night but dealer said i couldn't take delivers or finish the paperwork till today because they were getting extra incentives starting friday feb 15th
Please contact me I pick up the car at one and sign the paperwork
thanks
It's difficult to tell if this is a good deal without the MSRP and Negotiated Price for your car. However, I made the following assumptions...
MSRP = $21,775 (B2.5S, Dest. fee, Splash Guards, Emerg. Aid Pkg., Floor mats)
Negotiated Price = 20,363 (Invoice price on the above)
Money Factor = .0015
Residual Value = 60%
Added costs = $658 (old car payoff), $595 bank fee
Tax Rate = 8.375%
With all of that said... your payment should be $263.43 + 22.06 tax.
So you are in the ballpark of a reasonable deal. However, any of the assumptions I had to make could throw the numbers off. If you have better info, I could give a better answer. With the add'l incentives they are getting on the 15th you might be able to negotiate a better deal, but I don't think you are getting totally screwed here or anything.
Thanks in advance.
Thanks.
I got these figures for a 2008 Altima 2.5SL. near Pittsburgh
Sticker: 23,630
Sale Price: 21,377 (300 below invoice)
39 month lease
Residual 59%
Money Factor .00150
No cash exchanged, No Trade
Sign & Drive 280.00/mo plus 9% tax = 305.20
Does this sound appropriate ??
Question 2: What is a "Rent Charge" on the lease agreement
I have been in the car business for 6 years now.
If you are buying the Altima for 300 below invoice, that is a good deal!
I leased myself a 07 Altima 3.5SE manual for 39 months. The residual factor is right were it should be and the money factor is penuts. For 280/mo plus the tax of 9%, I think you should do it. You will love the car
Another thing that you might want to do is ask the dealer what specials are running right now. Make sure you tell him to run it at the figures that you agreed on, but just changing it up to a 36mo or a 42mo might make a difference.
As far as the "Rent Charge" goes, I have never heard of that. Some states might be different but make sure that you ask the dealer that question. Don't sign anything until you see the contract, and make sure to look at what you can buy the car for at the end of the lease. Take that number and subtract it from what the agreed price is (21,377) and calculate it. Some dealers are not that honest about those things.
Hope this helped.
Thanks.
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-15K per year, 36 month lease
-$400 at signing (including first month payment and fees)
-$258 per month including tax
And for Altima 2.5SL,
15K per year 36 month lease
$450 payment at signing
$299 per month including tax
Do you think that these offers sound ok?
Thank you.
- $1,500 out-the-door (includes some cap reduction, tax, title, first payment, etc.)
- 24 month term
- 12k miles per year
- base model (no add-on packages)
- $246/month, including tax
- money factor is $0.0014
- residual is 71%
- I am in Southern California, and there are no special promotions here now.
Thank you!
I leased a 2007 Nissan Altima 3.5 SE last April. My lease terms are 39 months with a 455 dollar monthly payment. I traded in my car when signing up for a lease, and they gave me 4K on that. According to NMAC, my residual amount on my lease is 15.5K. I have not gone in to ask for an exact payoff amount, but I was informed there was a 1200 dollar early termination fee. So basically, I have paid 10 payments on my lease and would like to know if anyone can give me a detailed description of what I would owe. Hopefully, there is someone out there that can help me. Thank You.
The only other option I could think of is to approach them about leasing a less expensive vehicle through them - perhaps they wouldn't penalize you as much - although you will still have significant costs rolled into the new lease payment - however I am sure it would be less.
Good Luck - I had similar feelings (I leased the same exact model/trim, and pay a little more - but I didn't put anything down) but I have calmed down since.
Thanks.
If the car is worth as much as its current buyout number you may be able to sell it.
It will be a big PIA but you should be able to get out.
I just leased the 3.5SE LOADED including tech package for my wife yesterday at Sheridan Nissan in DE.
$1993 down inclusive of $1079tax, 185-tags, $369 1st payment, $300-security deposit
15K miles per year
39 month lease
Maybe I could have done better, but try to give a rookie (me) a break. When I walked in the door, they wanted 2K down and $550/month payment which is absolutely stupid.
Thank you guys for all of your help. I gainnes alot by observing your conversations.
I have a 2005 Altima which I own (paid in full).
If I wanted to lease a new 2008 Altima would the dealer be willing to buy back my current Altima? Do they even do that? The KBB value is around $10700
Any advice would be appreciated, Thanks.
thanks, for your help
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In answer to your question about the "rent charge," vehicles' lease payments are composed of two parts the depreciation portion and the interest portion. The rent charge is the interest portion of your car's monthly payment.
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You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
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from the post above it says that you can't apply the rebates to the lease price? So the price I've been negotiating with dealer will go up $1250 if I decide to lease instead of buy? 08 Altima Auto 2.5S with SL package,floor mats,splash guards, $22162. Also the Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for 36 Mo. 15K is .00122 and 59%, is this correct. :confuse:
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I was wondering what people thought of this deal
2.5S Auto SL Package,Mats,splash guards,sunroof wind deflector,first aid package. MSRP $25705. 7.5% tax, $800 down $325 Mo for 36 Mo. 15K year lease.
I'm trying to get a good lease on the 2.5 S Coupe. Looking at a car with MSRP of $23769. With $3000 down, I'm looking for something in the $270 area. Salesman in N. Carolina came back with .00244 money factor and monthly pmt of $307 for a 39 month lease 12k mi, 57% residual "Best Deal". Sounds about $35 high, right? He didn't really want to discuss 36 mo lease. Is the S coupe not covered in Nissan Corp lease program? If not, what should a good lease payment and math be? My credit and FICA are very good.
Thanks,
Brian in NC
New to the forum. Just wanted to know what you all thought of this potential lease deal, I'm from NY if it makes a difference.
2008 Nissan Altima Sedan (2.5SL w/ connection package)
Dark Slate Metallic exterior, charcoal leather interior
Wind deflector, floor mats, first aid all included
0 money due at inception, absolutely nothing. No first payment, no taxes, no security.
36 months, 12K miles/year, $359/mo (payment includes taxes)
Good?
Any assist would be appreciated.
Micky
Thanks so much! :-)
Base Rate = .00244
Residual = 56%
By my calculations, this should equal out to monthly payment of $441
What dealer provided was: $485.07 plus tax
Net diff over the lease term is $1584
What's wrong with this picture? Are my numbers off? Are they rolling something into the lease payment and not telling me?
1. How do I factor in taxes (and what is a good or standard tax rate) and down payment into this equation?
2. Would anyone here be able to provide me with the residual and money factor for a 2008 Nissan Altima 2.5S Coupe CVT (dark slate) with P01 Premium Package, J01 Moonroof, F10 Foglamps, A92 Moonroof wind deflector? I am in San Gabriel, CA and have 4 dealers in my immediate area.
Thanks!
What is your monthly?
What is the current money factor?
Sorry to be so brief but I have no info for this model?
Not a good deal for you.... I just signed a deal yesterday for the EXACT same car in NJ.
2008 Nissan Altima Sedan (2.5SL w/ connection package)
Dark Slate Metallic exterior, charcoal leather interior
Wind deflector, floor mats, aluminum kick plates
$330 (first month payment) Out of Pocket... NOTHING ELSE.
39 months, 15K miles/year, $330/mo (payment includes taxes, doc fees, etc)
I shopped about 10 NJ dealers. What do you guys think? Good deal? Great deal?
Thanks to you all for the info before I shopped!