2013 and earlier Nissan Maxima Lease Questions

zman16 · December 2008

Hi Carman,

A dealer told me that the MF on a 09 Maxima SV has dropped to 00208 on 39mos 12/k per year leases. Could you please confirm the residuals and MF for december.

Thanks in advance! Your input is greatly appreciated!

zman16 · December 2008

"A dealer told me that the MF on a 09 Maxima SV has dropped to 00208 on 39mos 12/k per year leases. "

Dealer was lying..... imagine that. :mad: The MF is still 00258. Anyway, I'd still like to know the residuals. Does the residual change on a 39mos vs 36 mos.

Thanks again

CarMan@Edmunds · December 2008

Hi tiger93. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2009 Maxima SV with 15,000 miles per year are .00258 and 57%, respectively.

I don't believe that Nissan is currently providing any bonus cash on this car.

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CarMan@Edmunds · December 2008

You're right, zman16. To the best of my knowledge, Nissan has not enhanced its lease program on the Maxima. NMAC's current buy rate lease money factor and residual value for a 39 month lease of an '09 Maxima SV with 12,000 miles per year are .00258 and 58%, respectively.

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3rdGO350 · December 2008

Hi fellas, I've been reading the posts and getting alot of very useful info so thanks. I wanted to ask though... I got an offer from an Ohio dealership on an 09 maxima SV with premium pkg & prem. tech pkg for $35,800 b4 tax. With $4,000 down the lease payments are $458 total(includes tax,etc) a month for 39 months and 12,000miles/yr. Is this a good offer? I appreciate all suggestions. Once again thanks.

CarMan@Edmunds · January 2009

Hi 3rdGO350. Let me begin by saying that $4,000 is way too much money to put down on a lease. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make one risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you will be much better off going with a zero down lease.

As far as how good a deal this is goes, the best way to evaluate a lease is to look at its selling price, It's great that you already know what that is. All we need now is something to compare it to. Do you know either this car's full MSRP or dealer invoice price? If so, let us know and I am sure that myself or another knowledgeable community member will be happy to give you their opinion. If not, you can look it up over in the New Vehicle Pricing section of this site.

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fa6664 · January 2009

I wanted to run this number by the group to see what others are getting on similar vehicles. In the Indy area, Maxima SV with bluetooth only, 39 months, 15k/year, $0 down except first payment, at $469 month, which includes 6% sales tax.

Anyone else receive similar numbers? I've been working over the phone with the dealership that I have typically leased with in the past. So this is their first offer, but I'm going to stop by and go over the numbers in detail with them.

Just haven't seen much on this board on other lease offers in a while.

lexi72 · January 2009

need advice. been shopping for 09 maxima sv w/sport package. best offer so far is $486 down , $486 per mo. / 39 mos. Is this the best I can do, or should I shop around more than just 2 dealers.

njshorewill · January 2009

I negotiated a "purchase price" of $33,260 for a Maxima SV w. Sport PKG, Mats & Splash guards. MSRP $35,335. Price gotten from Consumers report was $32,170 after $750 Dealer Incentive. Holdback amount is $602.00.

Lease terms $425/mo, 39 mos, 15K miles. $4,400 down, including 1st mo, payment. Dealer is also paying the final month on plus damage charges (Bullsh*t) on my current lease ($550).

Residuals are 55% and .00226 Money Factor.

The numbers sit OK with me on the deal, after the $550, their profit is about $145.
Reviewing paperwork, numbers don't match to negotiations. Going to Void deal until I get this straightened out.

njshorewill · January 2009

Oh yeah, I also got Free Scheduled Maintenance for the life of the lease.

cmanoli · January 2009

*** I'd really appreciate a response to this since I'm supposed to go in and make a deal with the salespeople. ***

I live in LA. I went in today asking for a Nissan Maxima 3.5SV with Sport and Technology Package to lease. They checked my credit score and it was 648. Then they said I don't have enough credit history (basically about 2 years) and that it's a problem.
First they said a lease is out of the question. Then the whole "let me get the manager" trick happened and they said a lease would be possible if I put a down payment. Then they asked how much I'd be willing to put down and I first refused to answer then eventually I said a maximum of 4K.
Then they proceeded to say they'll call me tomorrow with an answer if a lease is possible. I asked if they even have the kind of car I want in the colors I want in the inventory and they checked for 2 seconds on the phone with someone and said yes, but they didn't offer to show me the car or anything.
So I left and tomorrow I have an appointment with a different dealership.

Now, is this credit history issue a trick or is it legitimate? I've had that problem with renting an apartment where they required a down-payment but on rent, my down-payment is actual months of rent.

if I MUST put down a down-payment what's the highest amount I should go for?
And also, if the car online goes for 38,105, what's the lowest amount I could negotiate for, in your opinion?

It's my first time leasing a car so I don't want to be swindled.

Thanks in advance for any speedy answers to this!

lexi72 · January 2009

I may not be the most informed person to answer your question, but I'm in michigan and am also after a maxima sv sport. I was at dealer yesterday, he ran my credit and said it was 695. I asked what group that put me in, and he said tier 1-0. I asked if there was better and he said I just squeaked into the top tier. He then said that a year ago you could have a 550 score and he would have no problem putting you in any lease. He then said since credit has tightened, people in the mid 500s are quite a battle to get them a lease. My point is, with all this said, I fully believe with you in mid 600s, you should have no problem getting lease for the maxima you described. You won't make top tier, but at worst you would be tier 3 and more likely tier 2. Which summed up probably means you will pay about $20 - $30 more per month for your lease as opposed to the top tier. So don't let those guys get over on you. If it helps you at all, my maxima stickers for $36000 and I have them at $486 down, and $486 per month, 39 mos, 12,000 miles. Nothing else do at signing, out the door. And I'm not even sure that is the best I can do. Theres nothing more in world I hate, then to make a deal for a car, sign the papers, and as your walking out the door with keys, catching a glimpse of the salesman and/or manager high-fiveing each other. Makes me feel like I got bent over. So usually I will surf every forum and web page I cand find to arm myself with ammo, so when I go in there I feel somewhat confident that they are not taking their family and friends to aruba for a week on my dime!

njshorewill · January 2009

Invoice for the car is $34,739, then there's $750 dealer cash. Holdback is $600. Are Maximas selling out west? There are very few on the road around here. As a first time customer, I'd doubt the Dealer would give you their holdback. I'd say start at invoice offering $34,000, see what they say, if no, offer $34,250. I wouldn't go any higher than $500 over - you're only benefiting $250 of the $750 cash from Nissan.

You have to remember credit priced on risk. The less credit (and history) you have, the higher the risk, the less a finance company is willing to lend without making you PAY for their taking a risk.

My credit was in the crapper when I got my last lease, and then I went to a chain highway dealer who really put me through the ringer. The only reason I got approved (2 weeks later, after making me take the car & leave my trade-in , virtually as hostage), was that I was a prior Nissan customer. Had positive history on prior leases, only one was with Nissan-Inifniti (it was for an I-35 I had turned in early), plus I owned my home & had a perfect history with my monthly mtge payments.

In the past, a FICO of 650 would have easily opened doors for you, not today. Amex lowered my credit limit because I was at 640 or so & citing delinquencies. I pulled my own report and there were no delinquencies (which I knew), only negatives was that Infiniti was still showing the lease I paid off in 2003 as open, and an open balance of $100 with Lowes!. I had to get that corrected myself, and my score went to 750.

Remember that very few car companies are leasing because they're getting killed on both defaults and residual values. My current lease is with Nissan, so I was prequalified for $580/mo @ tier one, yet they still pulled credit! You have no history with Nissan, so they may NOT be willing to lease....if you notice their ads say "Tier 1," Others, Like Honda, are offering leases only to "well-qualified." In your case, you may have to pay higher money factor (again, cost of the risk), etc.

You also need to realize that taxes, fees, etc, will be come out of your down payment, so even tho' you may say $4K, you might only wind up putting $2500 as your cap cost. Your payment might be in the high $600's. Can you afford that? Again risk.....

Finally as far as inventory, go to Nissanusa.com, follow the steps to build your car and then you put in your zip code and you can check inventory of local dealers, so the fact that your dealer is being uncooperative is BS, you can find that out yourself online. This dealer doesn't want your business. Go somewhere else.

Just remember to not get caught up with emotion over the car, don't react positively or negatively, just take in what they say, think about what you're gonna say before you respond.

CarMan@Edmunds · January 2009

Hi lexi72. the best way to evaluate this deal is to take a look at this car's selling price in relation to its MSRP or its dealer invoice price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what these numbers are, it is difficult to tell how much of a dealer discount you are being given. Let us know what these numbers are and I am sure that either myself or another knowledgeable community member will gladly tell you what they think.

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lexi72 · January 2009

Appreciate your response car man. As I noted in the reply above, I am not the most informed buyer out there, but I'm trying to be. The msrp is $35830, the invoice is $32,230. He claims he is giving me car at invoice just to make the sale. This would be the first car I have ever leased, and I am starting to feel pretty naive about the whole situation. In the past when I bought, it was all about dealer invoice and how close to, or how far under I could get them. But when I went into this lease deal all I felt mattered was how much do I have to put down at closing, what are my monthly payments and terms. I guess what I am saying is that as long as the options on the car are apple for apple, as say another guy in florida, I felt like I don't even care about invoice price, as long as my monthly payments were on par with his. This car would be for my wife and in tweleve years of marriage she has never put more than 10,000 miles a year on her vehicles. So in my mind I don't care if the buyout is $100,000, because I have no plans on going over mileage or buying vehicle at end of lease. I just want to try and get the best monthly payment possible with as little down as possible (which I'm sure is the objective of every car buyer). But anyway if the above numbers help you figure out if the offer sounds good,average, or bad, I would really appreciate advice.

3rdGO350 · January 2009

Thanks for the response Car_man. The MSRP is $39,205.

lexi72 · January 2009

finalized my deal tonight. Talked to 4 other dealers today via internet then phone. None of the other 4 were willing to beat oringinal dealers offer, except one and they wanted to give me silver but we had our heart set on black. Then original dealer called me later in the day and asked if I was finally ready to sign, I told him that I was talking to some other dealers. He called back later and lowered his offer to $470 per month. The guy seemed very sincere during all of our dealings and it is a very small dealership (which I like better) and from what I have seen on here, the deal seemed pretty good, so I took it. So to sum of the deal. maxima sv with sport package, $35,330 MSRP, $32,350 Invoice, $31, 850 selling price. 39 mos, $470 due at signing (tax, title, plates all included) $470 per month, 12,000 miles per year. satisfied!

dae928 · January 2009

Lexi,

I am wondering if you could tell me what the states tax your lease includes. I got an offer today $0 down(tax,title,lic,1st payment all rolled in) for $519. 12k for 39months. Money factor was 0.00226 and residual 56%. Just trying to gage where my deal is in relation to yours and what others think of my deal. MSRP: $34605, sales price: $31995.

Thanks all for your input.

lexi72 · January 2009

dae928,

I am in michigan, 6% sales tax. I don't know what state you are in, but I will say here is southeast michigan is not like outwest or down south. Around here everyone has a brother, cousin, inlaw, or friend that works for the big three. So as you may imagine, 97% of the people here drive an american car. I don't think I got the deal of the century, but I do think that foreign dealers have a harder time selling cars around here and are more willing to deal. Most of ohio is pretty much the same also. Hope this helps.

dae928 · January 2009

Thanks Lexi,

I am in Chicago about 20 miles west. Sales tax is 8.25%. Just trying to see where my deal is in relation, i think it is awfully high so I am not going to act. Thanks again for responding.

CarMan@Edmunds · February 2009

No problem, lexi72. Dealer invoice is an excellent selling price for a leased Nissan Maxima. I doubt that the dealer is marking up your car's money factor, Nissan dealers rarely do, so you should be good to go.

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CarMan@Edmunds · February 2009

You're welcome, 3rdGO350. Thanks for the additional information. OK, so you were offered a selling price of $35,800 on a 2009 Nissan Maxima SV that has an MSRP of $39,205. The dealer invoice price of this car is probably around $35,700 or so. As you can see, the selling price that you are being given is incredibly close to dealer invoice. This looks like an excellent deal to me.

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bmcny · February 2009

Hi, I am looking to lease a new 09 Maxima SV in western, NY. 39mo lease with 12,000 mi/yr with tax, first month and bank fee down. Will add $1000 more down if brings payments within range. I was wondering what good deals anyone has seen out there or have already made? Any help would be greatly appreciated!

sam_k · February 2009

Car_man,

Could you please give me the February lease terms for both the Maxima S and SV for both 36 and 39 month leases with 12K miles per year. Also, does Nissan apply the residual percentage to the entire sticker price or do the same thing with residuals like Toyota where the residual percentage is not applied to some or all options which means you have to pay for 100% of the options in the lease.

I know I'm all over the forums asking you for lease numbers but I'm just trying to compare the lease terms of various cars. Thanks.

sfoley · February 2009

hi. I am looking at leasing a 2009 maxima premium package. they offered me a net of 3000 for my trade and want me to bring 1000 to table. lease for 480/month with 20000 miles per year. is that good?

thanks

CarMan@Edmunds · March 2009

Greetings Sam. Through March 2nd, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36 month lease of a 2009 Maxima S with 12,000 miles per year are .00226 and 60%, respectively. The numbers for an otherwise identical 39 month lease are .00226 and 59%.

NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Maxima SV with 12,000 miles per year are .00226 and 57%. the numbers for an otherwise identical 39 month lease are .00226 and 56%.

This is Nissan's February lease program. It is scheduled to run through March 2nd. If you would like Nissan's March numbers, please check back with me in a few days and I will gladly fill you in on the details of the new program.

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CarMan@Edmunds · March 2009

Hey sam. I just noticed your second question. Yes, unlike Toyota Financial Services, NMAC does allow the residualization off all factory-installed and most dealer-installed options.

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CarMan@Edmunds · March 2009

Hi sfoley. The best way to evaluate this deal is to leave the money from your trade out of the equation at first and just look at the selling price that the dealer is charging you for the Maxima that you want. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Let us know what the selling price is and either myself or another knowledgeable community member will be happy to give you their opinion of your deal.

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sam_k · March 2009

Car_man,

That's great that Nissan allows residualization of most dealer installed options. I don't remember Lexus doing that when I leased through Lexus Financial Services. I'm assuming that Infiniti would have the same policy with dealer installed options. Is that correct? Thanks.

Sam

sfoley · March 2009

hi. i ended up making the deal. the gross capitalized cost was 35266.92. which from everything i researched was average if not slightly high. but i did go to another nissan dealer and found a comparable car and their payments were 150 more per month on an identical parameters. i told the salesman the offer the dealer made and he said there is no way i could get that deal the numbers were wrong. he called the following day and was still baffled. i even ran the numbers through edmunds lease calculator and paymetns should be about 100 more a month. so i am kinda confused.

sam_k · March 2009

Car_man,

Any word on the March leasing terms for the 2009 Maxima SV? Again, I'm interested in 36 and 39 month leasing terms for 12K and 10K miles per year. Thanks in advance.

Sam
.

sam_k · March 2009

Actually I think I'm going to stick with a 36 month lease on the Maxima SV. The basic warranty is only 36 months / 36,000 miles so with a 39 month lease, you're not covered for everything the last 3 months of the lease. Most luxury cars have a 4 year basic warranty (such as Infiniti) so you'd be covered for a 39 month lease.

nyc7535 · March 2009

Just signed lease yesterday at Starr Nissan in NY

Maxima S
39 Months 10K

340 month (Including bank fee)

First, tax and plates total due at signing total ($1685)
Money factor ,00220
Residual 58%

MSRP 30,185
Cap cost 26,342
Adjusted cap 26,937 (over 2000 under invoice, 750 cash back to dealer included)

Went through Hann financing which does have a 450 disposition fee, but NMAC has a 350 fee i hear as well so no big difference and gap is included being that it is NY

maxima_09 · March 2009

That is a VERY GOOD deal.

How were you able to negotiate the $2,000 under invoice? Usually they are not available in nyc.

I was able to find more than $2K off invoice for 2009 SV in tennessee though:
http://www.autonation.com/index.cfm?vehicle=2009_Nissan_Maxima&action=InventoryS- - - - earch&subaction=SearchDetailNew&InventoryID=16802832&inventorytype=New&preauctio- - - - nsearch=

bman33 · March 2009

Car_man:

I am also looking for 2009 Maxima SV March, 2009 lease rates. I am interested in 36 month/45000 and 39 month/48750 money factors and residuals. Please also list any applicable rebates/lease cash/etc you are aware of.

Thanks,

Brian

nyc7535 · March 2009

Thanks, as i stated the $2,000 under invoice did include the $750 manufacturer to dealer cash back so it was around $1,350 under invoice. Seems like the Maxima although a great car is not selling well. My third Maxima lease and never got one below invoice.

maxima_09 · March 2009

Gotcha.

This deal is $3,000 below invoice. Probably not available in NY though.

http://www.autonation.com/index.cfm?vehicle=2009_Nissan_Maxima&action=InventoryS- earch&subaction=SearchDetailNew&InventoryID=16802832&inventorytype=New&preauctio- nsearch=

CarMan@Edmunds · March 2009

Hey Sam. Here's the latest info for you. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2009 Nissan Maxima SV with 12,000 miles per year are .00226 and 57%. The numbers for an otherwise identical 39 month lease are .00226 and 56%.

I'm not sure if NMAC offers leases with only 10,000 miles per year, but if it does the residual values for that allowance are probably 1% higher than the above residuals.

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CarMan@Edmunds · March 2009

Congrats on getting your new Maxima, nyc7535. Thanks for taking the time to share the details of your lease with everyone. If you have the time, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

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CarMan@Edmunds · March 2009

Hi Brian. Here's the information that you're looking for. NMAC's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Maxima SV with 15,000 miles per year are .00226 and 56%, respectively. The numbers for an otherwise identical 39 month lease are .00226 and 55%. Nissan is providing some dealer cash on this car to dealers who hit certain sales targets, but I don't believe that it has any consumer cash incentives on this model right now.

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sam_k · April 2009

Car_man,

Can you please give me the April leasing terms for the 2009 Maxima SV sedan? I'm interested in 24, 36 and 39 month leasing terms for 12K and 10K miles per year. This will be the last month I will ask for figures because the extension on my 2006 M45 lease expires this month. Thanks in advance.

Sam

mhupp2 · April 2009

I was recently quoted a money factor number of .00164 for a 39 month lease on a 2009 Maxima SV. This seems like a big drop from what I was quoted for March--can I expect the rate to continue to go down? My current lease is up in June, so I am trying to time when the right time to lock in would be. Thanks for any help you can provide.

jayrider · April 2009

Find out the money factor and residual and then decide if it looks good. You can turn in your lease for another murano at any time now and they will buyout your lease. Research the best price on a new one and do the numbers. Ask the dealer about paying off the lease. Check your tires -- might need a new set if the tread is low.

CarMan@Edmunds · April 2009

Hey Sam. Here's the information that you're looking for. Nissan Motor Acceptance Corp.'s current buy rate lease money factor for a 36 month lease of a 2009 Maxima SV is .00142. The factor for an otherwise identical 39 month lease is exactly the same.

You definitely don't want to lease this car for 24 months. Nissan is no longer providing support on 2 year leases.

Car_man
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sam_k · April 2009

Thanks Car_man. You didn't mention the residual percentages for the 36 and 39 month 10K and 12K miles per year leases. Actually because the car only has a 36 month warranty, I'm only considering a 36 month lease so could you please tell me the residual percentage for both 36 month 10K and 12K miles per year leases. Thanks.

twright02 · April 2009

Does anyone know the current money factor for a 39 month lease on the 2009 Maxima S for 12k mileage?

Thanks

jps1010 · April 2009

I see the Nissan Maxima is offering a $1250 manufacturer to customer incentive for April. Can anyone tell me if this can be used towards a lease as a cap cost reduction? I believe so but would like to confirm.

Any help would be greatly appreciated.

Thanks.

gouday · April 2009

~~ I am new to the leasing game, and would like to obtain the best lease price on 09 Maxima SV prem & sports package; 39 months zero down & 12,000/year. I live in northeast ohio and have seen them listed @ $36,300, is this decent price?

Also, what is the starting point when negotiating a lease with a dealer?
Has anyone received any good deals in Cleveland, OH
thanks

kingpcgeek · April 2009

The starting point on negotiating a lease is first knowing how a lease payment is calculated. Try Lease Guide as a education tool. After figuring out how then find out how much right here by getting the current factors for the car you are looking for.

korey_k · April 2009

I am currently leasing an Accord which ends mid-June, and am looking at a Maxima. Given mileage issues, its too much out of pocket, to get a new car now and return the Honda early avoiding more mileage. My question is whether there is any way to know what the money factor/residual % will be for May for the SV. The residual % seems to be pretty steady, so the wildcard is the money factor.

What about other rebates/incentives? Is it basically wait til May? Since I have until mid-June, I can try for a better deal. I'm guessing the answer is that there is no way to know until May.

2013 and earlier Nissan Maxima Lease Questions

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