2013 and earlier Nissan Maxima Lease Questions

mhunter · June 2007

I have been told by dealerships that it does not. However, I do not see how the selling prices I have seen on this board can be around 4k off off window sticker. It looks like there is about $2800 between window and invoice on a 32k Maxima & the dealers I have spoken to aren't interested in going into their holdback.Please let me know what I am missing! Thanks

tcwarealestate · June 2007

Should I lease the 2007 or wait for the 2008?

vb1pa · June 2007

Does any one know the money factor and res on 24/36 month lease for maxima se for the month of June?

m6_2005 · June 2007

Hi -

I am trying to lease a demo vehicle--a 2007 Nissan Maxima SL. The odometer reads 5008 miles.

How are the residual values for demo cars determined for various lease terms? How would I determine the depreciated portion of this vehicle?

How exactly is this applied to the lease calculation?

Also, in leasing, what are some important factors in leasing a demo car vs. a new car to keep in mind? Do the same new lease incentives apply to demo car leases?

Lastly, what is the residual percentage on the 36 or 39-month lease?

THANK YOU in advance.

m6_2005 · June 2007

Ok, after a trip to my Nissan dealership, I left with the following lease offer on this DEMO 2007 Maxima SL w/ 5k miles:

(Reminder: This is a demo vehicle).

MSRP: $27,945
Selling Price: $27,000
Money factor (temp. until credit check): .00185
Fees: $907.33
Lease Term: 39 months
Mileage: 12k
Down payment: $2,500

Now the residual is perplexing. As I was told, for a 39 month lease, it's 51%---however, for this same 39 months, they've calculated it as: $16,308.95.
Now, based on an MSRP of $27,945-----$16,308.95 would put the residual @ 60%????

Finally, we're @ a monthly payment of $416.83.

Overall, this seems like a s---ty deal to me.

Someone please help me out here.

CarMan@Edmunds · June 2007

Hey newcarforme. I need both the MSRP and the selling price of the car that you are interested in to calculate a lease payment for it. Let me know what the MSRP is and I'll crunch some numbers for you.

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CarMan@Edmunds · June 2007

No problem, arleneg. NMAC's 12,000 mile per year residual values for 24 and 36 month leases are 1% higher than its 15,000 mile per year residuals.

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CarMan@Edmunds · June 2007

Hello mhunter. Nissan Motor Acceptance Corp.'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. 15,000 miles per year is the highest mileage allowance that NMAC publishes residuals for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty. Nissan is not currently providing any cash incentives on leases of this car.

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CarMan@Edmunds · June 2007

Hi taepo518. Nissan Motor Acceptance Corp.'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. This car's 12,000 mile per year residual value is 1% higher.

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CarMan@Edmunds · June 2007

Unfortunately, taepo518, the customer cash that Nissan is currently providing on the Maxima is not compatible with its special lease program.

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CarMan@Edmunds · June 2007

Hi tcwarealestate. Nissan's lease program on the 2007 Maxima is pretty good right now. It is difficult to say what its program will be like on the 2008 model when it is introduced. I personally don't see any advantage to waiting to get one, but as I always say it is difficult to predict exactly what manufacturers will do with their future incentives programs.

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CarMan@Edmunds · June 2007

Here's the information that you're looking for, vb1pa. Nissan Motor Acceptance Corp.'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%. If you decide to go with the longer term, you probably would be better off going with 39 months instead of 36. The 29 month program looks a little more attractive at .00080 and 50%. If you were to lease with only 12,000 miles per year, these cars' residual values would be 1% higher.

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CarMan@Edmunds · June 2007

Hi m6_2005. As long as they have never been titled, demo vehicles qualify for the same incentives as new vehicles. I believe that NMAC's residual values for demos are the same as they are for new vehicles, but I am not 100% positive that is the case. NMAC's current 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 .00185 and 51%, respectively. The numbers for an otherwise identical 39 month lease are .00185 and 50%. If you lease with only 12,000 miles per year, this car's residuals are 1% higher.

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CarMan@Edmunds · June 2007

Hey m6_2005. You definitely should pass on this offer. A $945 discount on a demo Maxima that has 5,000 miles on it is no deal. I am not intimately familiar with what the market is like for the Maxima right now, but I would be very surprised if someone who was in an area that has a decent level of competition was not able to find a dealer that was willing to lease them a brand new one at $500 or so over invoice.

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greanpea68 · June 2007

m6_2005.... You should easily be able to get another $1000 off the cap cost= $2000 off... On the other hand it is not better to lease a demo vehicle with 5000 miles on it. The payments are based on the residuals. If at the end of said lease a car being turned in with 39000 (39 mos lease 12k/year) will lease out better than a car with 44000 miles.

on demo car they should be at least $500 under invoice. when you pay for the milage up front it is $.10/mile. Since you are already at 5000 miles times that by $.10 = $500...

That would be fair...

needacarnow · July 2007

Car_man,
I didn't negotiate a price, I just received a monthly payment from multiple dealers. Including the $705 destination charge, my estimate for the MSRP using Edmunds for an SL AWD w/ the touring package is $36,405 and the invoice is $33,322. Thanks!

CarMan@Edmunds · August 2007

Thanks for the additional information, needacarnow. Let's assume that you will be able to lease this car for $500 over invoice and see what sort of payment we come up with. According to my calculations, if you were to lease a 2007 Nissan Maxima SL that has an MSRP of $36,405 and a selling price of $33,822 through NMAC right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $500.

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jackson34 · August 2007

Looking to lease a nissan maxima se base with cloth,skyview.Trading in a nissan altima 2005 that they will be giving me 9,500 with 75k payoff is 15,000 rolling the rest in negative equity.Long story short wife got screwed on the altima bought it with 50k interest rate out the roof.This is the deal they have for me rolling 5,500 in negative equity sale price of the maxima is going to be either 27000 or alittle less monthly payment of 548 with 1,000 down 15k a year.And is nissan paying the sales tax this month as a incentive.I live in texas.The moneyfactor was 14,182 residual was .000179.Let me know what you think

dwilliams5 · August 2007

Hi,
I got the following lease from a local nj dealer last night and was wondering if it sounds like a good deal.
Total MSRP:$33,645.00
Super Black/ black leather
Model
3.5 SE
Packages and Options
Splash Guards
Bluetooth Hands-Free Phone System
3.5 SE Premium Audio Package
Power Glass Sunroof
Driver Preferred Package
3.5 SE Sensory Package

Accessories
Carpeted Floor & Trunk Mats

Lease 39 month
12000
$3000 down
$358 month

-Dave

drlev99 · August 2007

Current Money Factor for '07 Maxima for August is 0.000645. The 39 mo. residual is 50% of MSRP.

If you do the lease math, based on your above MSRP, with a purchase price around $200 over invoice (invoice is around $30,670 for yours), your monthly payment for a 39mo. 12K lease, not including tax, comes to around $390/mo. with only
first month's payment and registration, title, etc. due at signing (around $500 total, out the door). NOTE: I did not even use your $3000 down payment in the above calculation!

Now if you put down $3000 as a cap cost reduction, that would lessen your payment to around $312/mo. not including tax...You'd still owe first payment, etc. at signing, assuming you used that $3K down payment purely as a cap cost reduction.

So, looking at all of this, you'd pay $1752 more than you should with the scenario above.

How? $390/mo. minus the $358/mo. you were quoted = $1248 extra over those 39 months. However, you showed $3000 down...meaning you are paying $1752 more than you need to, based on the above scenario of a $200 over-invoice purchase price!

Now I am not sure if your payment above included tax or not. My numbers here do not.

I leased an '07 Maxima today (my 2nd) for $200 over invoice and am paying $363/mo (tax not included) for 39 mo. with 12K mi. All that is due at signing is first month payment, title, registration, etc..around $500 at signing. The MSRP on mine is $29,995. I also negotiated, for my mom, another 2007 Maxima SE in October of 2006 for $200 over invoice, so anything more than that...walk! I hope I saved you some cash! I

drlev99 · August 2007

Oh, and one other thing the dealer missed that I picked up on before I signed the papers, thank god! There is currently $500 cash incentive on the lease. So, now my payment went down to $350/mo....nice! I am not sure Nissan even knew about it till I mentioned it.

miami13 · August 2007

Hello All - I was offered the following deal this week and was hoping someone could review this and let me know their thoughts.

MSRP - $33,645

Model 3.5 SE
Dark Slate exterior
Black Leather interior

Packages and Options
Splash Guards
Bluetooth Hands-Free Phone System
3.5 SE Premium Audio Package
Power Glass Sunroof
Driver Preferred Package
3.5 SE Sensory Package

Accessories
Carpeted Floor & Trunk Mats

39 Month Lease with only first month due at signing.

15,000 miles per year

$417 not including taxes

Appreciate any insight and thanks in advance...

CarMan@Edmunds · September 2007

Hi Dave. I see that you are considering making a $3,000 down payment on the Maxima that you want to lease. I always advise consumers against making large down payments on leased vehicles. Those who make them risk losing them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off going with a zero down lease.

You never mentioned the selling price of the Maxima 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.

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CarMan@Edmunds · September 2007

Greetings miami13. When negotiating your lease on this car, make sure that the dealer you are working with uses its buy rate lease money factor to calculate your monthly payment. Nissan Motor Acceptance Corp.'s current buy rate lease money factor for the 2007 Maxima 3.5 SE is .00076.

You never mentioned the selling price of the Maxima 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 its selling price is.

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puri · September 2007

i have a 2005 Altima SL that is coming to the end of the lease on Sept 21. I am considering upgrading to a 2007 Maxima, the quote i am getting for a 3.5SL with the driver preff package, leather, 6 cd changer etc with a price of 33,255. I am looking to put down 2089 down (incl title, bank and other fees), for 39 months, 15000 miles and the dealer has quoted me $389/month. Do you think this is a good deal?

would appreciate your inputs as i need to move on this ASAP.

puri · September 2007

the quote above includes taxes (i am a resident of NJ)

dwilliams5 · September 2007

Thanks Car_man
Unfortunately my girlfriend couldn't wait and went for the lease. But I still appreciate the advise, and we'll know better next time. My car lease is up next summer.
-Dave

CarMan@Edmunds · October 2007

You're welcome, Dave. Let me know when you have any questions about the next vehicle that you want to lease. See you around the forums.

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stokers2 · October 2007

CarMan,
Can you tell me what the Lease Money Factor Rate for a 2008 3.5 Maxima SE is for 36 or 39 months? (which ever is better) Also, what is the depreciation factor/pecentage for the same vehicle for the same time period?

Thanks,
Bob

jw3101 · October 2007

Seeking quotes on a 2008 Nissan Maxima 3.5 SL w/automatic trans, super black exterior with a black leather or frost leather interior. Options to include: splash guards, power glass moonroof, platinum edition package, rear spoiler and carpeted floor & truck mats. We want to lease for 39 months, 15K miles per year for a total of 48,750 at lease end, no money down and no security deposit (we are coming off a 2004 Murano lease and will not need a security deposit)

I built the car on Nissan's website and see that the MSRP would be $33,695, I am shopping around and would prefer to stay with Nissan if the right offer comes in. I have received several quotes and am still awaiting others - I received differing info. on incentives - anywhere from $2k to $2.5K

1st response is $33,795 with all the above options and leasing conditions with a payment of $504 per mo. He stated the money factor is .0062 and the residual as $18,249 at the end of the lease instead of a percentage.

Am I correct in my feeling that there is still room to bargain? I figure between $440 - 450 per mo. is about right.

Thanks!
Jim

carguy8532 · November 2007

Hi car_man, I was just wondering if there was a point in leasing a 2007 Maxima SL for 24 months at 15k/yr? Would the 2008 be a better deal? Thanks for your help!

ultradc48 · November 2007

I am interested in the '08 Maxima SL/or SE equipped with leather and the platnium package MSRP approximately $34500.
I want a 27 or 36 month lease with 12K miles yearly.I want my initial payment to include 1st month(with tax) reg.&bank and only required fees no cap.reduction on my part .What would be a fair monthly payment at this time?
I'm in Massachusetts and want my monthly to include the monthly tax

heeungjo · November 2007

Hi
I was offered below lease deal on a 07 Nissan Maxima V6 SE. The sticker price for this car is $28,995. I believe this car has all the goody options excluding the leather seats and Navigation. I think it is a good deal but I think it can be lower with no down payment. Could you please let me know?

15k miles/yr
$14,500 residual cost
Money factor at .091
$450 down (drive off)
39 months, $365(including tax) per month.

Thank you for your help. Much appreciated!

jap14 · December 2007

I'm trying to find out what a good price to pay for a 36 month lease on a $33,325 msrp with no money down. I was quoted $522.00

ncelk · December 2007

I would expect that with the 09 Maxima coming out in the next 6 months and the short production run of the 08 Maxima, you should be able to negotiate a good rate on a lease from now until the 09 models come out.

steevo · December 2007

375

aurelios · February 2008

Just thought I'd share my experience; a friend works as the 'Internet Rep' for East Coast Nissan in NJ...

Maxima SE, with sunroof and "Sensory package" (I really wanted leather) - car listed for $32,600.

My deal was:
12k miles/yr
39 months
$315./month, all-inclusive
$3515 down, which includes all the jazz: fees, DMV registration, 1st month payment, taxes, etc. Was ok with this, as I wanted a low monthly nut ~

Might not be the cheapest deal here, but I thought it was pretty fair

Good luck on your hunt, and thanks to everyone for all your help!
Best,
Aurelio

rwalkeredmund · February 2008

Because the info I got from this website on leasing a couple of years ago, when my wife's 07 maxima lease was stolen two weeks ago, we got $2000 from insurance AFTER paying the lease out! And we put ZERO money down on the lease. Not even first month. Nothing but taxes and title fee.

I am looking for the lease numbers right now for a 2008 maxima. She wants the same car and wants it FAST.

She is a tier 0, nmac credit preapproval. (This is her third car with them).

So I REALLY like this service and appreciate it.

Thanks for a speedy reply.

CarMan@Edmunds · March 2008

Congratulations on getting your new Maxima, Aurelio. I can't believe how much its lease payment has come down since it was first introduced. It is a heck of a nice car for just over $300 per month. Thanks for taking the time to share the details of your lease with everyone. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts in your recent dealer experience. Enjoy your new ride :shades: .

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CarMan@Edmunds · March 2008

Hey rwalkeredmund. I'm glad that everything turned out so well for you after your car was stolen. Heck, if I could get two grand for having my leased car stolen I'd go park it in the street with the keys in the ignition right now

. The lease payment for the new Maxima that you are interested in will vary depending upon a number of different factors, including its MSRP and selling price, how long you lease it for, and what mileage allowance you need. The best way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that gives you a price that you are comfortable with calculate your monthly payment using your car's buy rate lease money factor.

The market for new vehicles is pretty slow right now. If you are in an area that has a decent level of competition, you should not have any problem finding a dealer that will lease you a Maxima for a couple hundred dollars over dealer invoice and then subtract the $550 dealer cash incentive that is available on leases of this car. You can look up the invoice price of the exact model that you are interested in by visiting the New Vehicle Pricing section of Edmunds.com.

Once you arrive at a selling price that you are comfortable with, you need to make sure that the dealer uses this car's buy rate lease money factor to calculate your monthly payment. Nissan Motor Acceptance Corp.'s buy rate varies by term. Its current 36 month buy rate is .00016 for the '08 Maxima SE.

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sagehen · March 2008

Car man,
You mention that the current 36 mo buy rate is .00016 is this for both 12k and 15K and what is the resid factor. Is the 24 mo lease a good deal right now?

CarMan@Edmunds · March 2008

Hi sagehen. Money factors are the same, regardless of what mileage allowance you go with. NMAC's residual value for a 36 month lease of an '08 Maxima SE with 15,000 miles per year is 50%. If you were to lease with only 12,000 miles per year, the residual would be 1% higher. The 24 month money factor for this model is the same. A two year lease would obviously be shorter than a 3 year lease, but its monthly payment would be higher.

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dfri · March 2008

Looking to lease a 2008 Maxima. Not sure if I should get the SE and get it with leather and Bose stereo. or SL. Those are the 2 options that we really want. No money down, 36-39 months and 20-25,000 miles

Was quoted $450 for an SE with leather, bose and power moonroof. Is this a good deal? And how do I know what a good buyout price is and price per mile if I go over 20,000?

Thanks for any help.

orsakm · March 2008

I am currently attempting to negoatiate a lease on a new Maxima. The specific model I am negotiating is a 2008 MAXIMA SL Auto with: VDC, Moonroof, Platinum Edition, Navigation, Floor Mats. MSRP: $35,965

Based on the Current 39-month/12,000 mile lease special, I am showing NMAC is offering a money factor of .0016 and a residual value of 50%.

My question is, what would an appropriate money factor and residual value % be on a 24-month/12,000 mile lease?

My guess is same money factor, but a residual near 70%?

Thanks!

dfri · March 2008

I should have added that the MSRP is $32,625

skilled08 · March 2008

I just got one hell of a deal from Exton Nissan here in PA.

Loaded 08' Nissan Maxima SE MSRP 36,300 except the chrome wheel packgage.

12k /39 months....... $365 a month( plus $35 a month 9% PA tax)= $400.00

$500 out of pocket.

I think because the 09' redesign is coming out there really trying to push the Maximas off the lots.

I've done pretty well with car deals but this one is hands down my best yet.
I was getting quotes for Civic Si's for $340 plus tax.

eagles2 · March 2008

Am I looking at his correctly the MF is .00016 and residual @ 36m 15k is 50?

skilled08 · March 2008

Yes, I'm not sure about the money factor, but the residual is 50%.

bgates222 · March 2008

is it common for a dealer to not give you the money factor or residual when you ask for it? They actually told me that they done give out that information until you sit down with the bank manager. This seems odd as every other dealer I went into had no problem disclosing it. Also tells me not to Deal with that dealer.

dfri · March 2008

Is either the money factor or residual price negotiable?? And are they set by Nissan or the dealers? Thanks.

2013 and earlier Nissan Maxima Lease Questions

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