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2013 and earlier Nissan Murano Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cocolo2k. Nissan is still running a special lease program on the Murano in December. While it does have a special $500 cash incentive for recent or soon-to-be graduates on the 2006/2007 Sentra, Frontier, Altima, Versa, and Xterra, unfortunately this offer is not available on the Murano.

    I personally am a big fan of leasing. While the cheapest way to drive a vehicle is to purchase a used one with cash and then drive it into the ground (assuming that you don't run into any major repair bills), if you like to drive a new vehicle every couple of years leasing is not that much difference than financing. Lease payments are composed of two basic elements, the depreciation portion and the interest portion. If you finance a new vehicle, you are still going to have to pay interest and depreciation, when financing though you will not realize the depreciation hit until you go to sell rather than monthly with a lease. There's not as big a difference between leasing and financing as one might initially think.

    Car_man
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  • pacerfan_11pacerfan_11 Member Posts: 10
    ronaldc,

    Do you mind sharing the name of the dealerships you received the two quotes from? I am very interested in the Murano and it appears I can save almost $3,000 by leasing a Murano in Massachusetts right now. It may be worth the one way air fare.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tmnjmax. Nissan is still providing very attractive money factors for 39 month leases of 2006 Muranos in November.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, Matt. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2006 Nissan Murano SL AWD with 15,000 miles per year are .00039 and 50%, respectively. Don't bother with its 36 month lease program, it is not nearly as attractive as the 39 month program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ronaldc. I personally would never lease a vehicle without knowing exactly what its selling price is. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing this truck's selling price, you don't know how much of a discount you are being given on it or if there might be more room to negotiate. This late in the model year, I suspect that Nissan dealers will sell Muranos at pretty close to dealer invoice, at least in areas where there is a decent level of competition. Find out what this vehicle's selling price is and then stop by the following discussion to compare it to the prices that other community members have paid for similar models lately: "Nissan Murano: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello mapleriver. Nissan's special lease program on the 2006 Murano is currently scheduled to run through November 30th. It is difficult to say what its December lease program for this model will be like. At some point, Nissan is going to pull the plug on its lease support on leftover models and just provide straight dealer cash on them. A number of manufacturers have already done so. The question is whether this will happen next month or in January. It is difficult to say.

    As far as this deal goes, you never mentioned the selling price or MSRP of the Murano that you are interested in leasing. These are important numbers 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 this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle 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 these numbers are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mediaguy2. The dealer invoice price of this truck is probably around $34,500 or so. The price that you were quoted is pretty close to this, which means that it is a pretty good deal. I don't think that you are going to negotiate a much larger discount than this, but you can always stop by the following discussion to see how much other community members have paid for similar models: "Nissan Murano: Prices Paid & Buying Experience". Using the prices that you mentioned in your post, an MSRP of $38,085 and a selling price of $35,789, I estimate that a 39 month lease of a 2006 Murano SL AWD with 12,000 miles per year would have a zero down, pre-tax monthly payment of around $442.

    Car_man
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  • ronaldcronaldc Member Posts: 50
    Sorry for the delay, I was out of town. Try these:

    1. Clay Nissan, Newton, MA
    2. Quirk Nissan, Braintree, MA
    3. Coastal Nissan, Norwell, MA

    You can check inventories from Nissan web site. Good luck.
  • cocolo2kcocolo2k Member Posts: 18
    car man tell me what u think 12,000 miles
    07 murano sl AWD MSRP: 38660 selling price 35800 money factor: .00145 @ 53% monthly payment of 459 @39 months with taxes,bank,dealer fees upfront 2490+150dmvs
    this is with a touring pkg & navigation pkg
    what do you guys think? please let me know asap

    he said 15000 miles would be $11 more.
  • waydewayde Member Posts: 198
    Hi Carman -
    What are the money factors on the 2007 Muranos? I see everyone is talking about the 06s, but there aren't any in my area.
    Do you think the 07 leases will get support in December?
    Thanks!
  • rodsky77rodsky77 Member Posts: 4
    Hello all,
    I am new to leasing, so, I just left a dealership after getting the following figures, if someone could tell me whether this is a good deal, I would really appreciate it:
    2006 Murano SL AWD 2006 fully loaded model with everything except navigation or the dvd package for a price of $33855 (MSRP $37275).
    The lease is 39 mo, 12,000 mi/yr with .00039 money factor and 51% residual value. Nothing down at $471 a month with all taxes (7%) and fees included as well as the first and last lease payment.

    Should I go for it, or should I wait till after Christmas when they are high and dry on buyers and get an even better deal?

    Thank you.
  • terry92270terry92270 Member Posts: 1,247
    Simple read back in this thread about three pages then forward. Several examples of good deals posted by Carman.... ;)
  • rodsky77rodsky77 Member Posts: 4
    I read over them, and I am still kind of lost on it. It's so simple with a loan, and it's just way too complicated with the lease. :confuse: The dealer also gave me the option of giving $3000 up front and paying $378 per month. With the other option I would pay nothing at all at the signing, but my payment would be $471 a month for 39 months. Car man, could you please share your opinion on this one? Thank you.
  • ronaldcronaldc Member Posts: 50
    Using the figures you posted, the monthly payment appears correct. The price you were quoted is near invoice for this vehicle and is better than most other prices posted on this site. I would also take the advice of Car man and not put any money down. Also, you could wait, but the supply of 2006's are getting scarce and this particular vehicle might not be available in the near future. Good Luck.
  • rodsky77rodsky77 Member Posts: 4
    Thank you for the response. I figure that I can get either the payment down or get more for my trade-in car. Carsdirect does offer $550 below the invoice on these cars. So, these guys should be able to budge a bit more for me. Why should I put no money down, this would mean that the lease would cost me more if I do put money down? :confuse:
  • terry92270terry92270 Member Posts: 1,247
    You can make more on that money in a savings account or invested, rather than paying ahead, is why.
  • ronaldcronaldc Member Posts: 50
    See Car Man's posted response #218 for a explanation of why it is not advised to put any money down on a lease.
  • terry92270terry92270 Member Posts: 1,247
    Reposted for the ease of newbies... ;)

    #218 Re: Nissan Murano [salty600x] by Car_man HOST Aug 03, 2006 (2:34 am)
    Bookmark | Reply | E-mail Msg
    Replying to: salty600x (Jul 20, 2006 11:31 am)

    Hi salty600x. Consumers are free to lease any vehicle they want without making any sort of capitalized cost reduction. Of course, your monthly payment will be higher for a zero down lease than it would be for one that you made a down payment on. Still it is in your best interest as a consumer not to put money down when leasing. I say this because if your leased vehicle is totaled in an accident or stolen and never recovered your down payment essentially disappears. At lease signing all you need to pay are your vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, NMAC's $550 acquisition fee, and any required state taxes or fees. If you want to cut down even further on the amount due at signing, NMAC will waive its security deposit requirement in exchange for an increase of .00015 in your vehicle's money factor and you can roll the acquisition fee into your vehicle's capitalized cost.
    Car_man
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  • lctcsclctcsc Member Posts: 5
    2007 Murano SL 2WD w/Touring Pkg. w/SIRIUS and Floor Mats:
    MSRP $35,090-Dealer Options=$695.00=Total$35,785.00
    I traded a 97 Mountaineer and was given $3,000.00
    39 mos.-12,000 miles
    Cap Cost= $32872.48
    Residual=$18597.70
    dwn pymt=$500.00
    Monthly=$385.98

    I thought this was a decent deal!Replys welcomed!
  • rodsky77rodsky77 Member Posts: 4
    Does that include taxes and tags?
  • lctcsclctcsc Member Posts: 5
    Yes> It includes Taxes and Tags
  • justice7justice7 Member Posts: 1
    Does anyone know what credit score will qualify you for the Tier 0 or Tier 1 rating on the Murano leases?
  • terry92270terry92270 Member Posts: 1,247
    600+, I believe. One of the sales people or leasing people can help you more. Those rates are usually reserved for the very top 10% or so credit-wise. Meaning those who could care less. :P
  • pvsurferpvsurfer Member Posts: 50
    I'm a total noob when it comes to leasing, so please go easy on me for what might be a stupid consideration...

    ...Does it make any kind of sense to consider leasing a Mo (as opposed to buying) if it will only 'see' about 6k miles/year?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cocolo2k. A base 2007 Nissan Murano SL AWD has a spread of around $2,500 between its full MSRP and dealer invoice price. You were quoted a discount of $2,860 on a well equipped one. this looks like a very good price to me. The money factor that you were told looks good to me as well. If you like this truck, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey wayde. Nissan's lease program for the 2007 Murano varies depending upon the vehicle's trim level, the length of the lease, and its mileage allowance. Right now 39 months is by far the most attractive term for a lease of the 2007 Murano, so I'll provide you with the info for that term. For now I'll assume that you are interested in an '07 Murano S AWD. Let me know if you want a different model. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Murano S AWD with 15,000 miles per year are .00129 and 54%, respectively. The residual value for an otherwise identical lease with only 12,000 miles per year would be 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings rodsky77. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Let's take a look at the specific deal that you were quoted. The money factor that you were given is right in line with Nissan Motor Acceptance Corp.'s current buy rate for this model. This is always a good thing. You were also quoted a discount of $3,420 on this truck. Given the fact that a base 2006 Murano SL AWD only has a spread of $2,500 between its MSRP and dealer invoice price and the fact that Nissan is not currently providing any cash incentives on leases of this model, I'd say that this is a fantastic price. Overall I'd say this is a very good deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Rrodsky77, it's always better not to make any sort of capitalized cost reduction, aka down payment, when leasing. Consumers who make large down payments on leased vehicles risk losing them if their vehicles are totaled in an accident or stolen and never recovered.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pvsurfer. If you only put 6,000 miles per year on your vehicles, you probably would end up wasting money by leasing a Murano. While some banks allow consumers to lease vehicles with 10,000 miles per year or less, the lowest mileage allowance that I have seen mentioned on Nissan Motor Acceptance Corp leases is 12,000 miles per year. If you were to lease a Murano with 12,000 miles per year you would be in essence be paying for twice as many miles than you will actually use.

    Car_man
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  • pvsurferpvsurfer Member Posts: 50
    Thanks Car_man... Are any leases (for any cars) ever written for very low (like 7000) miles/year?
  • llcooln21llcooln21 Member Posts: 1
    hey car man, i have seen you are very knowledgeable and would like to ask you couple questions. I am looking into a 2007 murano sl FWD with leather package. The MSRP of this car 32990. They offered a sales price of 31,278. I think this is too high, and will go back with an offer for 30,544(invoice i think). By the way, I want to lease for whatever is the best program. They gave me a money factor of .00144 which is pretty good i think? The purchase option on the 39 month lease is 17634.70. This seems low. For your information, I will do a 12k mile lease. I am asking for your help in helping me come up with the best possible price that i should have in mind. I would also like to know the residuals for 36, 39, 42, and 48 months. From what ive read a cap reduction is frowned upon so i wont reduce the cap cost. Please reply back with some help. I want to lease this murano asap. Also, I do not care if i get the 2006 version with the same equipment but i thought it might be more expensive to do that due to depreciation. Help!!
  • mgriffin1mgriffin1 Member Posts: 3
    Hi Guys,
    My wife just drove the S AWD today as we were thinking of buying the car but now are considering leasing.

    We were offered 39mos/15k for an S AWD w/ an aftermarket moonroof for $415 with 2880 down at mil. factor of .00145. I didn't think was good at all and was annoyed as they weren't telling me what they were basing the cost of the car to make these numbers.

    My questions are:

    1. What should I expect I lease payment for this configeration to be?

    2. What should a lease run on an 07 SL AWD with Touring Package?

    3. If anyone has been happy working with a salesperson/dealer in NJ I would like any recommendations.

    Thanks
    Mike
  • alexexcessalexexcess Member Posts: 1
    Hi everyone! I am a noob to this site and to leasing a new car as well. Can someone tell me what would be considered a good deal on a 36 month (12,000ml/yr)lease of a 2007 Murano SL (dealer price - $37,090). I am thinking $400-450 a month including tax. I am also thinking of putting $2000 down and trading in my $3000 car. I live in Pocatello, Idaho, but I am flexible to go out of state for a better deal. Any feedback will be appreciated.
  • whitallwhitall Member Posts: 190
    I was very happy with Turnersville Nissan, and also received a good price from Cherry Hill, though I never actually went to CHerrry Hill. Use the website and get an internet quote. It gives a good price and maybe you can get lower. Did you say you wanted an "S" with aftermarket sunroof? Seems like SL w/ sunroof in a package would be better, but I don't really know any prices anymore (got my 06 in July). My salesguy was known as "Hoss". He was one of the best car salespeople I've ever met. Probably the only one I've ever actually liked!
  • rpdrpdrpdrpd Member Posts: 36
    How's this?

    2007 SL AWD
    MSRP: 36,820
    Invoice: 33,568
    Selling Price: 33,568
    Holdback: 2% of Invoice (671.36)
    Term: 39 mos
    Mileage: 15,000/yr
    LEV: 50%
    Acq Fee: 550
    Factor: 0.00052
    Due at start: 768.30 (1st pymt, dmv fee)
    Pymt: 460.80

    I am thinking getting the vehicle at invoice with a pretty decent factor (0.00052 x 2400 = 1.248%) makes this a good deal. Or are there better deals on 06's?

    Welcome your comments.
  • ejkcpaejkcpa Member Posts: 7
    How is this deal?
    2007 S AWD with Convenience package

    Invoice price: 28,690
    Term: 39 mos
    Mileage: 12,000/yr

    Residual Value $16,573
    Lease payment including sales tax, acq. fee with no money down. $383/mo

    Sunroof after market will add $35/mo extra.
  • shannonlinyshannonliny Member Posts: 6
    Sounds like a decent deal you got! I didn't get floor mats=(
    I got the Murano 2007 SL with the touring pkg - list 36,600-3k down-includes taxes- 39mth lease- 12k yr/miles- for 380.00 mth. He originally quoted me 389.00- I wanted 375.00 but after reading posts I had no idea what the residual is on it?? Stupid me...- that's key, he didn't tell me of course but overall I think I got a good deal. It's a beautiful car. The dealer is one of the best- It's my 2nd car from them :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, pvsurfer. The lowest mileage allowance that I have seen for a lease through Nissan Motor acceptance Corp. is 12,000 miles per year. Many banks offer 10,000 mile per year leases on vehicles, but if NMAC does I have never seen it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi llcooln21. Dealer invoice is a pretty aggressive price for a 2007 Nissan Murano. I suspect that you will have to pay more like at least $500 over for one. You should be able to get an idea of how much one will cost by stopping by the following discussion and checking out the prices that other community members have paid for similar vehicles lately: "Nissan Murano: Prices Paid & Buying Experience".

    Here's what this truck's current lease program looks like. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Nissan Murano SL FWD with 12,000 miles per year are .00052 and 51%, respectively. 39 months is by far the most attractive term for this vehicle. Make sure that this is the program that is used to calculate your truck's monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Mike. The Murano for the Murano that you are interested in will vary depending upon what its MSRP and selling price are. If you provide me with these numbers, I would be happy to use Nissan's actual current lease program to estimate what sort of lease payment you should expect.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome alexexcess. If I was in the market for a 2007 Nissan Murano right now, I personally would shoot for a selling price of around $500 over dealer invoice. For more feedback on how much you can expect to pay for this vehicle, make sure to stop by the following discussion: "Nissan Murano: Prices Paid & Buying Experience". If you provide me with the MSRP and approximate selling price for the exact model that you are considering leasing, I would be happy to use Nissan's current lease program to estimate what your monthly payment would be.

    As far as making a down payment on your lease goes, I always advise consumers against making down payments on leased vehicles. Those who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered. There's nothing wrong with trading in your current vehicle when you lease your new one, just have the dealer cut you a check for it rather than using the proceeds from your deal as a capitalized cost reduction for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello rpdrpd. Dealer invoice is a very attractive selling price for a lease of a 2007 Nissan Murano right now. Furthermore, the money factor that you were quoted is right in line with Nissan's buy rate lease money factor for this model. If you like the truck, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ejkcpa. Are you saying that you are getting this Murano for dealer invoice. If so, that is an excellent selling price. Just make sure that the dealer that you are working with is using Nissan Motor Acceptance Corp.'s current 39 month buy rate lease money factor of .00052 to calculate your truck's monthly payment and you're in business.

    Car_man
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  • pidoubletpidoublet Member Posts: 6
    Wondering if you could help me out. Looking to lease a Murano. Found an '06 SE with DVD and Dynamic Control package. Sticker was $39,750. Lease is for 39 months, 12K/year $389 a month with $1999 down (includes 1st months payment). I was thinking of asking for them to bump the milage up to 15K/year to finalize the deal, since this is usually only around $12 a month. Any opinions would be greatly appreciated.

    Thanks!
  • pidoubletpidoublet Member Posts: 6
    Forgot to mention this is in PA and it included the Touring package.
  • mgriffin1mgriffin1 Member Posts: 3
    Thanks everyone.
    We ended up buying a 2007 SL AWD with Touring Package, Floor Mats, Sunroof Deflector, Cargo Protector, Crossbars and Splash Guards.

    MSRP - 36,820
    Invoice - 33,568
    We paid - 32,880

    Plus we did ok with our trade-in.
    We did this in PA.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pidoublet. You never mentioned the selling price of the Murano 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 truck 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.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mgriffin1. Wow, you got an '07 Murano for below invoice. That is a very good deal. Congratulations and enjoy your new ride!

    Car_man
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  • pidoubletpidoublet Member Posts: 6
    Sorry, thought I included that. The selling price is $34,279.
  • letterxletterx Member Posts: 4
    I have a 2004 Murano SL with navigation. I would like to get out of the lease and purchase a 2007 Murano. The lease is due in Apr of 2008. I pay $417.00 per month and I put no money down. I have 36600 miles.
    Any suggestions would be welcome.

    Larry
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