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2013 and earlier Nissan Maxima Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, es_car3. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Maxima 3.5 SE with 12,000 miles per year are .00210 and 55%, respectively. The numbers for an otherwise identical 39 month lease are .00259 and 54%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings breaks911. Please see my previous post for the information that you're looking for.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tomax. It sounds like you made a $5,000 down payment on your lease. I personally always advise consumers not to make any sort of down payment when leasing vehicles. I do so because if your leased vehicle is totaled in an accident or stolen and never recovered, your down payment essentially disappears.

    It is difficult for me to evaluate how good a deal this is without knowing your car's selling price. This number will show me how much of a discount you were given and it will enable me to estimate what your monthly payment should be. Let me know what this number is and I will let you know what I think.

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  • 1999450019994500 Member Posts: 1
    i leased my 2004 maxima in april of 03, sticker 35,000 end of lease buy out 17,000 my payment is 549.00 for 48 mths with no money down......frm volume dealer nisian cherry hill n.j.car is fully loaded except for t.c. , i see my car with its options is selling for 24,000 and i have 2 payments left, am i able to use the difference or some of the difference as a down payment on my next car or should i buy it out and then try trading it in.........
  • rcaldrnrcaldrn Member Posts: 2
    So a local south fla dealer sent me this deal. best of the group so far. Thoughts?

    '07 Maxima SE
    Sensory
    Premium Audio
    27790
    24 month lease
    12k miles/yr
    $1500 down
    $409 per month
    66% Residual
    .00087 but without credit check. Im assuming they will bump up as im the average range.

    Thanks for looking-

    Richard
  • keithandkeithand Member Posts: 10
    07 Maxima SE Precision Gray with Black Leather leased Oct. 2006 new.
    Sensory Package
    Driver Preferred Package
    Premium Audio
    Splash Guards and Mats
    Power Glass Sunroof
    MSRP $33,625
    24 month lease
    12k miles annually
    0 down and 0 due at pickup
    $395.00 inc. the 6.5% tax.

    Drove out the door for a check written for $395.00, no DOC fees, title or plate transfer fees (in fact paid for a new 12 month plate)and they gave me their $49.00 VIP program for free.

    Know I got a great deal. Had 4 dealers competing to lease me the car. So far the car has been great. Only a little disappointed in the MPG which is quite a bit lower than expected. I have owned Lexus GS models and Acuras and this car is right up there for thousands less!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 19994500. If your leased Maxima is indeed worth more than its end of term purchase option price then there is a good chance that you may be able to make some money off of it. Speak with the dealer that you want to purchase your next vehicle from to see what they can do for you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rcaldrn. The money factor that you were quoted for the 2007 Maxima SE that you are interested in is right in line with Nissan Motor Acceptance Corp.'s current buy rate for one with a waived security deposit. This means that the dealer you are working with is being very straightforward with you about this car's lease program.

    Is the $27,790 price that you mentioned this car's MSRP or its selling price? I need to know both to give you a detailed analysis of this deal. Let me know and I'll tell you what I think.

    One thing that I noticed about this deal is the $1,500 down payment that you are considering making. I always advise consumers against making down payments on leases. The main reason that I do so is that 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
    Congratulations on your new car, keithand. Thanks for taking the time to share the details of your deal with everyone. It sounds like you got a great deal. Enjoy your new ride!

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  • gslackgslack Member Posts: 1
    Car_man,

    I have been speaking to several Nissan Dealers in my area in ref. to a lease and was offered the following:

    - $150 over invoice
    - .00141 money factor
    - 61% residual
    - 36 month term

    Are these good numbers? I saw a money factor on this forum of .00087. My credit is very good. Is this a current rate?
    How does the mileage (12k, 15k, etc.)affect the numbers?

    Thanks in advance for your help
  • dwb78dwb78 Member Posts: 1
    Hi All,
    Planning on getting an '07 Maxima SL this weekend and looking for some advice from those that know more than me. MSRP is about $35K (fully loaded with Nav, Driver's Package, Spoiler, Sunroof, etc.). Negotiated for $29,500 after the $1,500 rebate + taxes and docs for a total out the door of $31,800. I think this is a good price. Already got financing externally at 6%. Was planning on putting down approx $7k and financing $25k. However, instead of having a monthly payment of close to $500 at that rate, thinking if leasing might be a better option to have lower monthly rates. Only prob is I drive a lot so would need 18k miles, which I know will drive the residual value down a lot. Don't really care if it's a 2 yr or 3 yr lease. If I leased, wouldn't want to put any money down (for the same reasons others have said here in terms of an accident and the like). So with that said, does anyone know what the current residual value / % would be on such a lease and what the current money factor would be? Does anyone know if the dealer has any say in either of these two factors - or is it only Nissan Motor that gives the dealer the #'s and the only thing the dealer influences is the selling price of the car. Want to make sure that I haven't negotioted a good deal on the price of the car and then lose out in them getting me on these other two factors which I wouldn't really know if they've given me fair figures or not.

    Any help would be appreciated as I'm scheduled to go get the car tomorrow and am having some last minute considerations as to whether or not leasing would be cheaper for me.

    Thanks so much in advance.
  • arlenegarleneg Member Posts: 7
    I am in the process of drawing up a lease on a 2007 Maxima SL. I am very good on figuring out the lease formula but what I really want to know is if the money factor rate is negotiable. It seems that the mf on an SE is MUCH lower than the SL. They seem to be pushing the SE that I do not want. I have leased now with the same dealer and NMAC for 6 yrs. I would really like to get a lower mf. The one they are giving me is .00230. The SE rate is .00140. I am in the grace period right now of my present lease and would appreciate your help asap. Also, is it advantageous to pay the tax up front. It seems that when I add the tax to the monthly payment it comes to $5. less than the figure they give me. I figured the complete car payment and then the tax on top of that. According to Edmunds, that's how it is done. Thank you for your help.
  • arlenegarleneg Member Posts: 7
    In my previous inquiry, #167, I stated that the .00140 money factor was for the SE. It's not. The 2 yr. lease mf is .00140 and the 3 yr. is .00230. The SE mf was lower but I do not remember what I was told as I am not interested in an SE. I really want to lease for 3 yrs. but would want a lower mf. Is this set in stone by NMAC or do you think I could do better? Thanks again and sorry for the error. Would appreciate a response asap.
  • jc30092jc30092 Member Posts: 1
    I made an impulse lease purchase on an 07 maxima se msrp 33625.. I rolled 3000 neg equity into the deal and put down 2500. It is a 24 mo lease 15k miles per year and my payment is $500 (tax included). I do not recall the MF but the residual was 21000. I was told by the dealer that the sticker price was not negotiable. From what I have read here, this is not true. Did I get taken to the cleaners on this deal? Do I have any other options.. Any advice would be appreciated. Thank you for your help
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gslack. Nissan Motor Acceptance Corp.'s March buy rate lease money factor and residual value for a 36 month lease of a 2007 Maxima SL with 15,000 miles per year are .00245 and 53%, respectively. The 12,000 mile per year residual value would be 1% higher. I'm not sure where the lease program that you were quoted came from, but it looks much better than Nissan's current program for this car. $150 over invoice is a very good selling price.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi arleneg. The answer to your question about whether banks' lease money factors are negotiable is yes...and no. Let me explain. Dealers to not have the authority to lower banks' published residual values, but they are often allowed to make them up to add additional hidden profit to deals. This is why it is important to know exactly what the money factor should be for the vehicle that you are interested in leasing.

    NMAC's current buy rate lease money factor for a 36 month lease of a 2007 Maxima SL is .00245. I don't think that you are going to be able to get a lower money factor than that on your car, regardless of whether you are a returning customer or not.NMAC's March money factor for a 36 month lease of the '07 Maxima SE is .00225. These cars' 24 month lease programs have lower money factors.

    I personally always have sales tax added into my vehicle's monthly payment rather than paying it at lease signing. The main reason why I do so is it would be unbelievably annoying to have paid all of the sales tax for my leased vehicle and then have it end up getting totaled or stolen and be out that money.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello jc30092. What you were told is not correct. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. I suspect that you should have been able to negotiate a discount of at least $1,000, and probably more than that on your car's selling price if you are in an area that has a decent level of competition and had shopped around. Unfortunately, now that you have signed your lease contract and have physically driven off in your car there really isn't anything that you can do to get out of your lease.

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  • 99rams99rams Member Posts: 19
    hey All,

    I am looking to lease a 2007 Maxima SE I wanted to know if anyone had the residual percentage and the money factor used on a 24 and a 36 month lease with 15k a year for this month?

    -Gary
  • toddr3toddr3 Member Posts: 19
    What should I expect to pay for a 24 month lease on a fully loaded SE with Nav, Drivers package, etc? I only want to put down first month payment and I have good credit.
    Thanks!
  • azzazzelloazzazzello Member Posts: 8
    Greetings,

    Currently there is a $1,500 rebate on the 2007 Nissan SL Maxima. I am being told by the dealer that this does NOT apply to negotiations regarding the price of the car in the context of leasing. Is this true or not? I am also looking to lease this car for 36 months, but am being told that 42 is the "best" value right now. Does this have any merit?

    What is a good monthly price I can expect for a 30,900 MSRP 2007 Maxima SL with negotiated (hopefully) price of 27000? I live in NY, where tax is (I think) 8.65%. Residual for 36 months = 54%, money factor, from what I gather, is .00259. When I plug these numbers into a calculator I wrote (based on Car_MAN's formula), I get $360 a month (with nothing down). Are any of my numbers unreasonable or wrong one way or another? Please advise
  • aguayoaguayo Member Posts: 6
    Hello all,

    I'm going tonight to a dealer and I need help with some numbers.

    What can I expect to pay for a 2007 Maxima SE MSRP 35,255, hopefully final sales price of $31,000, for 24 months, with $1500 down and 12k/ a year. I'm in Florida and the sales tax is 7%. My credit is excellent and I'm a recent college graduate.

    My other question: is the $1500 cash back being offered by Nissan applicable to a lease?

    Thanks!
  • jq2383jq2383 Member Posts: 2
    I am actually in the same situation your in except I will be going to the dealer tomorrow morning. I live in Miami, florida so I am very interested in reading what your dealer tells you tonight. Good luck.
  • aguayoaguayo Member Posts: 6
    That's funny. I'm in Miami also. Going to Maroone of Miami. Let's see how it goes.
  • azzazzelloazzazzello Member Posts: 8
    Car_man or anyone? Can you please help with question #175? How does the 1500 rebate offered by Nissan reflected (if at all) in negotiating a price? I was told by 2 dealership that it cannot be used at all, but something tells me that they can get something from it (which means I can use it in negotiations). This would be really helpful, thanx
  • eurocarloveurocarlov Member Posts: 4
    Hello! I just recently came upon these forums and they have changed the way I look at cars! Thank you!

    My question...
    I have a 2004 Nissan Murano SL AWD.. pretty much loaded up. Its on a lease 400 a month... didnt put any money down, 15k per year, 42 months (52,500 miles total). I still have a year left on the lease, but am quickly approaching my mileage limit (ALREADY). The payoff is still around $23,000.

    My question is, does Nissan offer any type of loyalty discounts or considerations when buying or leasing another Nissan vehicle? I'm thinking about getting into a Maxima and I think, taking my current vehicle out of consideration, I can lease a 2007 SE with drivers preferred for around $400 a month, $0 down, 15k per year for only 2 years. I've seen similar deals recently. The question is, is Nissan likely to let me turn in my lease early if I lease or buy another Nissan vehicle?! Or am I just crazy?! Haha. Thanks all!
  • remedyremedy Member Posts: 1
    Carman, I'd like to know your 2 cents on this lease deal. This is my first car.

    2007 MAXIMA 3.5 SE 4DR CVT
    DARK SLATE

    Driver Preferred Package
    Floor/Trunk Mats
    Splashguards
    Sunroof

    MSRP: $33,625.00
    Selling Price: $30,028.00
    24 months, 15k miles
    Residual: $21,183.75

    $399.05/month including tax ($370.35/month pre-tax)
    $0 down payment
    $1500.00 out of pocket = includes 1st months payment, acq. fee of $595, and registration fee of $???

    It appears that the registration fee is close to $965???

    Do you think there's more room to negotiate on the selling price? I don't know what the invoice price is on this car. This was based on an internet quote from the fleet manager. I have not directly negotiated the price on the phone yet.

    Although I requested it, the fleet manager did not give me the money factor or residual percentage.
  • tcwarealestatetcwarealestate Member Posts: 2
    Remedy~ Let me know if your deal went down. I'm looking for something similar here in my state, but the dealers are playing hard. Brian
  • steevosteevo Member Posts: 389
    My guess is they are hiding a capital cost reduction in the registration fee number. Probably around 650 or so. He probably did that to get you below $400. Whats the odds his numbers came out to 399 on their own! Did you ever mention wanting to be under 400? The deal sounds decent, you could probably negotiate away most of the 965. Or ask for another 30 off the monthly, and meet in the middle somewhere.
    OR MAYBE...it was an "honest" mistake or misunderstanding? Perhaps the 965 includes the tax UP FRONT. So if you pay 399 the 965 would be reduced by almost 700 dollars. Call him and ask about the tax first, to be sure..Otherwise try to beat it down a bit more until/unless you are happy!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Gary. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2007 Nissan Maxima SE with 15,000 miles per year are .00016 and 63%, respectively. The numbers for an otherwise identical 36 month lease are .00115 and 53%. As you can see, Nissan is really pushing two year leases of Maximas right now.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi toddr3. This car's lease payment will vary depending upon what its full MSRP and selling price are. I would be happy to use Nissan's current lease program to estimate what your payment would be like on this car right now if you provide me with these two numbers. You can look up the MSRP of the model that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get an idea of what sort of selling price you will have to pay by visiting the following discussion: "Nissan Maxima: Prices Paid & Buying Experience". Let me know what the prices are and I'll crunch some numbers for you.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings azzazzello. Unfortunately, what you were told is correct. The $1,500 customer cash that Nissan is currently offering on the 2007 Maxima is not compatible with its special lease program. Having said that, when the dealer told you that 42 month leases of the Maxima are the best value right now, they definitely were not correct. Nissan is really pushing 24 month leases of the Maxima SE at this time. Its money factor for 2 year leases of the Maxima SL is still the best deal, but it is not nearly as attractive as it is for the SE model. Its 42 month lease program is not very good.

    Let's work up a couple of sample lease payments on the car that you are interested in for you and see what we come up with. According to my calculations, if you were to lease an '07 Maxima SL that has an MSRP of $30,900 and a selling price of $27,000 through Nissan Motor Acceptance Corp. right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $363. The payment for an otherwise identical 42 month lease should be around $401. As you can see, two years is definitely the way to go with the Maxima this month.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you have found these discussions so helpful, eurocarlov. Unfortunately, Nissan usually does not provide any owner loyalty incentives that I am aware of on its vehicles. It will likely be pretty expensive for you to get out of your current lease a year before its scheduled end date.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings remedy. The 2007 Maxima SE that you described has a dealer invoice price of around $30,500, so the selling price that you were quoted is an outstanding deal. As steevo mentioned, I suspect that there may be some fluff hidden in your deal, perhaps in the registration fee, that is allowing this dealer to sell you the car for below dealer invoice. Even if there is $500 hidden in there somewhere, this is still a good price. I don't think that there is much room left to negotiate it. Make sure that the dealer that you are working with uses Nissan Motor Acceptance Corp.'s current 24 month buy rate lease money factor of .00016 to calculate your monthly payment and you're in business.

    Car_man
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  • btomasiebtomasie Member Posts: 30
    Hi all,
    looking to possibly lease a new SE... has the money factor rate and residual changed for the month of May? Car_man mentioned as of 4/19/07, they were .00016 and 63% respectively.

    Thanks much!
    Brian
  • christina271christina271 Member Posts: 65
    what should be the monthly payment including 7% sales tax with $0 down on the SE model with an msrp of $31000 and selling price of $27000 be??
  • sagehensagehen Member Posts: 3
    I am looking for the same info. I am looking for a 2007 max-se with drivers package. assume 200 over invoice. what are the current money factors and residuals for 24 and 36 month. Is 24 still the best with zero down?
  • sagehensagehen Member Posts: 3
    Car_man do you know the program info for May? What is the current best deal 24 or 36 or 39?
  • arlenegarleneg Member Posts: 7
    I am waiting for my sales rep to return from vacation but was wondering, in the meantime, if I could find out what the money factor and residual amts. are on an 07 Maxima SL for May on LI, NY. I am turning in my previous lease. I would like the numbers for a 24 mo. and a 36 mo. Thank you.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Brian. I believe that Nissan's May lease program is a little different than its April program. NMAC's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Maxima SE with 12,000 miles per year are .00016 and 62%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi christina271. This car's lease payment will vary depending upon how long you lease it for and what its mileage allowance is. For now I will assume that you are interested in a 24 month lease with 12,000 miles per year. This is NMAC's most attractive term for this car. According to my calculations, if you were to lease a 2007 Nissan Maxima SE that has an MSRP of $31,000 and a selling price of $27,000 through NMAC right now for 24 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $332. This is a very attractive payment for this car.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sagehen. 24 months is still Nissan's most attractive lease term for the Maxima. NMAC's current buy rate lease money factor and residual value for a 24 month lease of a 2007 Maxima SE with 15,000 miles per year are .00016 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00115 and 51%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you are looking for, arleneg. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 24 month lease of a 2007 Maxima SL with 15,000 miles per year are .00099 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00185 and 51%. As you can see, the SL's lease program is not quite as attractive as the SE's program.

    Car_man
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  • newcarformenewcarforme Member Posts: 35
    So what do you guys think of the new lease incentive they got going on...Thinking of urchasing this week...If they throw in the driver preffered package..Is this a good deal?

    2007 MAXIMA SE Auto W/mats & Splashguards Lease
    39 Months - $299/Month - $2,999 initial payment.

    Excludes taxes, title, and license. $2,999 initial payment required at consummation. (includes $2,700 consumer down payment, $299 first month payment, $0 security deposit).

    2007 MAXIMA SE Auto W/mats & Splashguards model 8217 subject to availability to qualified lessees through Nissan-Infiniti LT. $28,995 MSRP incl. destination charge. Net capitalized cost of $25,208 includes a $595 non-refundable acquisition fee. Dealer financial contribution may affect actual price set by dealer Monthly payments total $11,661.00. At lease end, purchase for $14,787.45, plus $150 purchase option fee (except KS & WI), plus tax, or pay excess wear and tear plus $0.15 per mile for mileage over 12000 miles per year. Lessee is responsible for maintenance and repairs. See participating Dealer for details. Offer ends May 31, 2007
  • newcarformenewcarforme Member Posts: 35
    So assuming my negotiated price is 28,500, what would my payment be based off the figures above?
  • arlenegarleneg Member Posts: 7
    To newcarforme, I personally do not think it is such a great deal. The $2700 down payment is the stickler. If you didn't put a down payment (which is advised not to do) it would cost you $368 a month(2700 divided by 39 =69 which would be added to the 299) Without a drivers pkg.--no deal. I don't think so anyway.
  • arlenegarleneg Member Posts: 7
    Thank you. However, would you be able to let me know what the nos. would be for 12,000 mi.?
  • mhuntermhunter Member Posts: 2
    Please tell me what is the best money factor I should expect w/excellent credit. Wanting a 24 mo./20k per year lease on a Maxima SE with a $32,295 msrp incl. dest.
    Also,what would the residual be and are there any cash incentives if you are leasing?
    Thanks for your help!!! P.S. I live in Oklahoma
  • taepo518taepo518 Member Posts: 5
    Does anyone know if the Maxima SE still has the same great lease program for June, as it did in May?

    In May, the most attractive lease was a Maxima SE, 24months. What are the terms for the month of June (looking to lease a MAX this month)?
  • arlenegarleneg Member Posts: 7
    Yes, it is the same. I am in NY and I am in the process of leasing a Maxima SE. The figures were the same as May. Excellent!
  • taepo518taepo518 Member Posts: 5
    Does the $1500 customer cash on the Maxima also apply toward leases?
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