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2013 and earlier Nissan Maxima Lease Questions

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    rdel1rdel1 Member Posts: 21
    thanks for replying !!!!!!

    I also called this other company number 1 leasing
    http://number1leasing.com/

    They state they can get me a 2011 SV, premium, premium tech, splash guards, matts, spoiler - MSRP 40080 at a local bergen county dealership with Nissan financing. 400.00 a month. 39Months 39,000 miles ( you make a good point on the extra 3 months

    I refused to give any credit app info over the net dealer or otherwise and insisted all transactions be completed the day I get the car.

    Has anyone worked with this company before. I got there info from this site but they could have posted it.

    I understand the residual to be 62% and the MF .00175 - the residual comes out to 24,048 - total payments after 39 = 15,600 - SO I wouldnt want to pay more than 7-9 k to buy it out. Otherwise I assume it goes on a lot for about 24 - 27K - its all its worth at that point and the warranty would be gone.

    DMV and DOC fees are rolled in and never seem to be negotiable or clearly defined so I am not sure how much i would save on regestration for the 1 year difference.

    Good advice though on the B2B warranty. the trans is covered for 100K, 72K on something else - I think the power train.

    Anyone have any deal
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    kyfdxkyfdx Moderator Posts: 237,153
    If you introduce a broker into the deal, then you have someone else who needs to take a profit.. potentially increasing your costs.. A little research and education on your own, and you won't need a broker.

    As someone who always leases with a 15K/yr mileage allowance, I'm almost always out of warranty on my leases, at some point... We are on our 8th leased car, and have yet to have an out of warranty repair... Plus, where I live, registration is just $25/yr, so the cost is negligible... YMMV

    Maximas have an excellent reputation for reliability... If Nissan is offering a much cheaper lease payment on the 39 month lease, that's the way I would go... Of course, if the 36mo payment is competitive, then there is no need to stretch it out. My last lease was only 24 months... It's a good thing, as I didn't love the car..

    Good luck!

    Edmunds Price Checker
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    rdel1rdel1 Member Posts: 21
    thanks - ended up presenting the deal to a local dealer and he matched it; no broker.

    So I ended up in a 2011 Ocean Grey with Charcoal interior Maxima SV - premium pack, premium tech pack, splash guards, mats and spoiler for 400 a month. (250 addtitional for the spoiler at signing) $650 down and 38 more payments. (total deal cost = 15850) 12K mile a month

    Thanks to everyone for your advice and input; it was invaluable to me and geratly appreciated.

    Cheers!
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    smarty666smarty666 Member Posts: 1,503
    Glad everyone thinks 39 months is so great :mad: ! Better hope nothing happens out of warranty! Its your extra money your throwing down the drain so all the best to you all!

    It's all a marketing ploy, none of the other mainstream companies do 39 month leases, they are all 36 for a reason, Nissan is hosing!
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    rdel1rdel1 Member Posts: 21
    My research showed that 90-95% of the time, the dealership is looking to move you into a new lease within 3 - 6 months of the term.

    If i were to choose to by the car out, I could buy out the lease early, though that would defeat one of the pros of leasing having a new car with a full warranty.

    So though you make a good point, I can run up 39K miles withini the 36 month period and turn it in 3 months early for a new vehcile.

    I do agree there is risk if you take it to term for 39 months or take the 15K a year deal. guess the bottom line for me is - if I cannot get bought out within warranty, I'll garage it and turn it in on time. Again most companies want you in the latest model and I have found situations where they bought out 6 months early to move them to a new lease.
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    smarty666smarty666 Member Posts: 1,503
    That is certainly true, these dealerships are desperate for sales and I've even gotten letters 9 months before lease end asking to turn back in early and get something else!

    Its nice to have options! :shades:
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    moneyisafactormoneyisafactor Member Posts: 1
    edited November 2010
    Hi im new here. I was quoted a Nissan Maxmia premium package with technology package for $1,500 down and 38 payments of $359.00/month with allowance of 10k miles/yr. I'm currently coming off of a 2007 nissan maxmia and the dealer told me there is an extra rebate of $ 1,000 if i go into another maxima. This dealership is in LI, NY. So what do you guys think, is this a good deal considering all the rebates I should be getting? Thanks.
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    rdel1rdel1 Member Posts: 21
    we just leased the 2011 SV with premium, tech, mats, splash guards and spoiler - 400 a month with 1000 miles a month over 39 months. All fees wraped into the payment. We just made the first payment and took the car.

    so if you are doing a 39 month lease I would say the miliage is off a bit. MSRP for my car was 40080.00

    PLug this into excel and change the numbers to your deal.

    MSRP $40,080.00
    Residual percent 0.6
    Value of car at lease end $24,048.00

    negotaited price with 500 incentive $34,625.00
    minus value of car at lease end $24,048.00
    number of payments foir the lease term 39
    montly payment $271.21

    negotiated price + value at lease end $58,673.00
    money factor 0.00175
    Interest per payment per month $102.68

    monthly payment plus monthly interest $373.88
    tax rate 0.07
    tax per payment $26.17
    Final Monthly payment $400.05
    Lease cost w/ DMV and DOC fees $15,602.13
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    ddeliseddelise Member Posts: 353
    Looks like a great price - but what about the Dealer Fee (anywhere from $100 - $400, right?) and Acquisition fee ($595 i believe)?
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    rdel1rdel1 Member Posts: 21
    all wrapped in -
    just tell them another dealer, eastCoast Nissan offered you $395 without the spoiler and $400 with - all fees included - 1000 miles a month 39 months.

    I only put down the first month. so i have 38 more payments at 400 each.

    Be firm and tell him if he cant do the deal you will buy the car at the other dealer. I did it over the phone.

    best of luck and happy Thanksgiving
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    ddeliseddelise Member Posts: 353
    Thanks for the quick response. Reason I am asking is that through the end of the year, I get 'employee pricing' through Nissan's VPP Program. Looks to me like you just about negotiated employee pricing without the program, which is great.

    Employee pricing is invoice minus $1500 for the Maxima minus incentives, which I understand are $1500 for a lease. Here in FL, we need to pay $600 for a dealer fee, the $595 acquisition fee, plus tag, tax. Rolling these and the first month payment into the lease (like you did), I was quoted $402/month with the 7% tax. Seems like we are just about spot on with the quotes (39 mo, 12k miles/yr).

    Happy Thanksgiving to you too!
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    vick80vick80 Member Posts: 4
    Hello. I am new to this site, though I follow the posts regularly. I am in the market for either a 2010 or a 2011 Nissan Maxima lease, and look to take advantage of the year end incentives that will be offered. I noticed that alot of members to this site are getting some awesome deals on the east coast (NY,NJ). I was wondering if anyone is experiencing similar deals in California, or San Diego more specifically? Thanks alot, guys.
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    easyrider08easyrider08 Member Posts: 10
    Just leased from Thousand Oaks Nissan (automall drive).. 2010 SV with cold package and other goodies... 360.00... zero down... best deal I could find... Great dealership...
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    jrich8jrich8 Member Posts: 2
    Hi easeyrider08,

    Could you please post the details abour your Maxima lease? I am looking to lease a 2011 SV here in So Cal. Also, who did you deal with at the dealer?

    Thanks.
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    vick80vick80 Member Posts: 4
    Easyrider08,

    Thanks for your response, man. It's good to hear the leasing experiences of someone closer to home. If you ever have the time, would you mind elaborating on the specifics of your lease? Thanks again.

    Vick80
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    go4thedewgo4thedew Member Posts: 9
    Tomorrow I am purchasing a Maxima SV with Monitor Package and Spoiler. Also includes Mud Guards and Floor Mats.

    MSRP: 35700
    Selling Price: 31365
    Rebate: 2500
    Adjusted Selling Price: 28865
    Residual: 59%
    Money Factor: .00175
    Lease Payment 304 ish
    Lease Payment with 7% Tax: 324.99
    Down Payment: 324.99
    Price includes a transfer of a Florida License plate which is around $200.

    My math says this deal is around 1000 dollars below the dealers invoice price before all incentives. Other dealers I called were at least 30 dollars a month more.

    I think this is a great deal and I owe it all the forums here on Edmunds! Thanks all!
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    go4thedewgo4thedew Member Posts: 9
    Forgot lease terms.

    39 Months
    15,000 Miles per year

    Did I forget anything else?
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    easyrider08easyrider08 Member Posts: 10
    jrich8,

    Ask to speak with Mazie... Great to deal with... Please tell her the Cajuns living in Valencia recommended her !

    2010 SV, splash guards, cold package 5 piece floor and trunk mats

    MSRP 34,910
    Gross cap cost 30,617
    Acq fee 595.00
    Service contract 349.00
    Tot cap cost 31,561
    res value 17,804
    base pay 363
    taxes 35
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    easyrider08easyrider08 Member Posts: 10
    Vick,

    Please see my response to jrich.... my lease was 12K miles per year for 39 mos......

    And I think you can get a better deal...
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    pilotnoobpilotnoob Member Posts: 22
    edited November 2010
    Signed on Friday

    2011 Maxima SV with monitor & cold weather pkgs.
    floor mats & splash guards
    39 month 12k per year

    $1500.00 total out of pocket
    $299.00 per month for 38 more months

    Nissan of Hawthorne in N.J.

    Thanks to all who contribute to this forum.
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    jrich8jrich8 Member Posts: 2
    Thanks easyrider. I forgot the MF was so low on the 2010 versus the 2011, which basically offsets the lower residual % it seems. I've put a few offers to Cerritos Nissan and Universal Nissan so far and will look into Thousand oaks nissan too.

    I'll let you know what I hear also, Vick.
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rdel1. If you haven't pulled the trigger on your deal yet, you're in luck because Nissan just introduced an additional $1,000 cash incentive on the Maxima for the end of the month.

    The money factor and residual value that you were quoted are right in line with Nissan's current program for this car.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Maxima, pilotnoob. The Maxima is an amazing vehicle for $299 per month. Wow. Thanks for taking the time to share the details of your deal with everyone. It is a great time to lease a Maxima right now, with the additional $1,000 holiday bonus cash out there.

    Enjoy your new ride!

    Car_man
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    vick80vick80 Member Posts: 4
    Easy Rider,

    Thanks, man. Looks like you got an excellent deal. I'm waiting to see what the December incentives will look like. After that, I hope to get a killer deal like yours.

    Vick
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    vick80vick80 Member Posts: 4
    Cool. Thanks J Rich. Anything is helpful.
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    msingh626msingh626 Member Posts: 8
    Hi, I am in the market for a new 2011 Nissan Maxima. I had a few questions about Excess wear and usage charges. Is it a unwritten rule that Nissan will automatically charge their customers a Excess wear and tear fee at leases end just to force the customer into getting another car from Nissan. I have read online that they offer $500 off those charges if you do so. Also wanted to know if their 3 years/36,000 mile warranty applies to leases as well. Do they also charge Dispostion fee as well.
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    rdel1rdel1 Member Posts: 21
    Well All I know is that there is a 395 turn in fee if I choose to leave the Nissan brand for another car company at the end of the lease. It is waived if I lease another nissan product.

    As to the wear and tear..... this is my first time leasing so I guess I will find out in three years.
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    aitrus03aitrus03 Member Posts: 20
    edited December 2010
    Hi Carman,

    I am looking for the December money factor and residuals on a 2011 Maxima 3.5 SV with Premium Package for 36months 12k miles. Is this the best lease term/mileage to go with on this vehicle? What are the December incentives, hold backs, etc available?
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    ddeliseddelise Member Posts: 353
    I'm also looking for the numbers on the 2011 Maxima SV. 36 or 39 month, 12k or 15k miles year, plus incentives.

    I'm in Tampa, FL.

    Thanks!
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    smarty666smarty666 Member Posts: 1,503
    edited December 2010
    Here are your answers!

    1) that $500 excess wear and tear coverage is only good IF YOU GET ANOTHER Nissan OR Infiniti when you turn in your leased Maxima. If you decide you want to go to Lexus, or BMW, or Honda, etc you don't get any excess wear help at all. :sick:

    2) the 3yr/36k warranty DOES apply to leases as well

    3) yes, Nissan and Infiniti both charge a ridiculous $395 disposition fee on all their leases now, unlike their major competitors who still do not!; the disposition fee is waived IF you get another Nissan OR Infiniti vehicle
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    msingh626msingh626 Member Posts: 8
    Thanks for the answers smarty666, much appreciated
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    msingh626msingh626 Member Posts: 8
    Hi Carman,

    I am looking for the December money factor and residuals on a 2011 Maxima 3.5 SV with cold weather package & monitor package for 36 months 15k miles. What are the December incentives, hold backs, etc available?
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    smarty666smarty666 Member Posts: 1,503
    no problem :shades:

    Just make sure that when you negotiate your lease, you find out what the buyout is going to be at the end; I got completely screwed over on my buyout, which is going to be a few thousand OVER MSRP. Its nice to have the option, if you really like and fall in love with the car, to buy it at lease end rather then leasing something else! I made the mistake of not asking about the buyout and then after the fact found out I got royally screwed. Don't make the mistake I did.
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    ddeliseddelise Member Posts: 353
    What - how is this possible? Isn't the buyout the residual value? Or maybe the residual value plus some fees? How is the buyout listed on your contract? I have never heard of this.

    What is the incentive for Nissan or the dealership to do this? Something doesn't seem right.
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    aces_fullaces_full Member Posts: 16
    If this is really the case, you should probably have a lawyer look it over unless they made a mistake on the contract? Doesn't seem like a legal contract.
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    smarty666smarty666 Member Posts: 1,503
    edited December 2010
    Not exactly, but close. The residual value is a factor in determining the buyout for the vehicle among other things, like depreciation, but they do guess work, so to speak, to determine what they are going to ask to buy the car out or more precisely what THEY THINK the car will be worth in 3 years time as a used vehicle. Thus, and I realized this out after the fact that, the buyout is NEGOTIABLE, just like the selling price of the vehicle on the lease. You can have a great lease deal itself but still have a bad buy out, as in my case.

    Ideally, if you have a good lease and a reputable dealer, the buyout should be around or slightly over msrp for the car (meaning that the total of what you pay during the lease, plus what the buyout amount is, should be around or slightly over the msrp of the car on the window sticker). If you take what I'm paying on my lease and add it to the buyout that Nissan is offering, you come out to a total of almost $43k. Thats about $5k over msrp, since my Maxima had a window sticker just shy of $38k. So that makes it a bad buyout and I'm not paying that to keep the car, despite the fact I really like it. It's price gouging at its extreme. The joke of the matter is, and this is why car manufacturers are greedy SOBs, instead of negotiating with you at the time your ready to return the vehicle in in order to get you to keep the car, they won't and rather waste their time and money to get the car back and try to sell it on the used car lot and make even more profit it on it. You would think, especially with the way the economy still is, that they would negotiate and lower the buyout so they could guarantee a sale and not get a 3 year old car back on the lot but no, they'd rather screw the lessor over and take the chance of getting it back and not selling it used.

    Just use me as an example as to what not to do. Negotiate and take a calculator with you BEFORE you sign the lease agreement. Add the total amount you'll be putting out on the lease for the 36 or 39 month period, and add it to the buyout amount they are quoting you. If it is below, around, or slightly above msrp of your Max then its a good lease deal and buyout. IF not, they are screwing you and tell them to give you a better buyout offer or you'll walk and not sign the lease. You need to do this BEFORE you sign the lease. Once you sign the lease agreement, it is too late. The buyout will be finalized.
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    rdel1rdel1 Member Posts: 21
    good advice - I tried to negotiate the buyout but they wouldnt.

    Now the car appears to be worth approx 19 - 22K after three years with 39K miles.

    my buyout is 24,066 and a purchase option fee of 150.00 which totals 24,216.

    total cost of lease after 39 months = 15,850

    MSRP 40,080 0 selling price is 35, 034 without trade or tax
    with tax - 37,486.38
    dealer fees and tag would be another 1K
    so we are at around 38,500 if i bought it out right.

    my opinion is that my buyout shouldnt be higher than 38K -
    They did provide I believe 4 or siz oil changes at no cost (standard - didnt have to ask) and 3 25 cash coupons to use towards service.

    All and all i am very satisfied with my deal and may have only been able to shave another 300 off the total cost over 39 months.

    In the end, I see no reason to purchase the car out right since the most of the warranty will be gone ( only power train left) and I can just slide the wife into a new car early thus reducing my lease cost on this vehicle... and allowing me to drive almost three new vehciles over 9 years for the price of one.

    Of course if we switch brands - then I incur another 395 on top of the total lease cost bring us a total of 16,245 over 39 months. Assuming no damage at turn in.
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    ddeliseddelise Member Posts: 353
    I see what you are saying, but something is not adding up.

    Let's assume you did a 36 month lease. Your residual would be about 60% (maybe a couple of points more) of the $38k MSRP.

    This is a residual buy price of $22.8k, or $23k rounded up.

    You are saying your total buyout is $43k. Subtract the $23k residual above, and you are left with $20k in payments. This divided by the 36 months is $555/mo. This is all before taxes of course. This is not a good deal.

    If you are comparing your total buyout (as you define it) to the MSRP, and your total buyout includes taxes, then you need to add taxes to the MSRP to have an apple-apple comparison.

    Assuming 7% taxes, your $38k MSRP is really almost $41k - this is much closer to the $43k figure you compared to.

    I need more info to really understand your situation.
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    smarty666smarty666 Member Posts: 1,503
    Exactly! I don't know if it is just Nissan, though I think it is, since the buyout on my Acura, Infiniti, and MB have all been around msrp and they are luxury vehicles for God sakes. I've only encountered this problem now with Nissan.

    Basically, they are over inflating the buyouts on a vehicle that really is not going to be worth what they say it is come 3 years time. They basically are asking for what they would ask when they put it out on the used car lot.

    Your deal looks pretty good for lease and buyout. At most, the buyout should never be more than a couple of hundred over msrp.
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    smarty666smarty666 Member Posts: 1,503
    I did make a mistake, it is not quite $43k. It had been awhile since I calculated it and I forgot some of the numbers.

    Payments on lease are $460 a month for 36 months. Problem is, there was $3000 down. So that brings total for lease itself $19,100. Buyout right now is $23,400k. Add those two together and you get $42,500. As you can see, that is about 4.5k over msrp with is a bad buyout.

    Keep in mind, I could have probably gotten an even better lease deal, but when I got my 2010, they had only been out for about 2-3 weeks and the dealers had plenty of 2009 leftovers on the lot. Another factor that was not in my favor for leasing or for the buyout.

    All I ask is that you all learn from my mistakes. In my case, a good buyout would have been around $18,900 - $19,200, which I did not get. If the dealer does not negotiate the buyout, just walk right out the door is my advice.
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    msingh626msingh626 Member Posts: 8
    Is it safe to Lease a car directly with a leasing company? I was looking into possibly doing that, anyone out there would like to share their experiences if they have leased with a leasing company. The website that i am looking at is :http://marquisautos.com/index2.php
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    feenixfeenix Member Posts: 3
    Hello, I'm looking for the December Money Factor and Residual Value for an '11 Nissan Maxima SV, 12k miles per year, 36 and 39 months. Thank you!
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    msingh626msingh626 Member Posts: 8
    Hi this is the quote I got for 39 month Lease, 15,000 miles annually
    2011 Nissan Maxima SV w/ Premium Package & Technology Package ,Basically fully loaded
    MSRP $40,080
    Residual Value $22,453
    Buyout $22,753
    Selling Price : $34,062
    Residual Value: 59%
    Money Factor: .00175

    Final Payment per month including tax: $385
    out of pocket expense 1st month,bank fee($595), DMV Fees($350)
    Please give feedback on wheter its a good deal
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    msingh626msingh626 Member Posts: 8
    Hi this is the quote I got for 39 month Lease, 15,000 miles annually
    2011 Nissan Maxima SV w/ Premium Package & Technology Package ,Basically fully loaded
    MSRP $40,080
    Residual Value $22,453
    Buyout $22,753
    Selling Price : $34,062
    Residual Value: 59%
    Money Factor: .00175

    Final Payment per month including tax: $385
    out of pocket expense 1st month,bank fee($595), DMV Fees($350)
    Please give feedback on wheter its a good deal
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    md_outbackmd_outback Member Posts: 185
    msingh626,
    This is a very good deal, although there seems to be a slight error in the residual Value of $22,453 - that is only 56% of MSRP, not the 59% you were told. Where did you find this deal (dealer, city & state)? Thanks.

    MD
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aitrus03. NMAC's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Maxima 3.5 SV with 12,000 miles per year are .00028 and 53%, respectively.

    The money factor for an otherwise identical 39 month lease is the same, but the residual value is 1% lower. You will likely get a slightly better payment by going with the 39 month term.

    Nissan is currently providing up to $1,500 in cash incentives on leases of this car in select regions.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello ddelise. NMAC's December buy rate lease money factor and residual value for a 36 month lease of a 2011 Maxima SV with 15,000 miles per year are .00028 and 51%, respectively.

    The numbers for an otherwise identical 39 month lease are .00028 and 50%.

    If you were to lease with only 12,000 miles per year, this car's residual values will be 2% higher.

    Nissan is currently providing $1,500 in cash incentives on leases of this car in your area.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey msingh626.

    Nissan Motor Acceptance Corp.'s December buy rate lease money factor and residual value for a 36 month lease of a 2011 Maxima 3.5 SV with 15,000 miles per year are .00028 and 50%, respectively.

    There is up to $1,500 in cash incentives available on the '11 Maxima right now. The exact amount varies by region.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello feenix. I just provided every combination of lease information for this car over the past several posts. Please check there for the information that you're looking for.

    Car_man
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    msingh626msingh626 Member Posts: 8
    www.legendleasing.com
    located in New York

    thanks for the reply
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