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2013 and earlier Nissan Murano Lease Questions
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Comments
Steve
Pretty much all leases now include gap insurance which means the leasing company will cover the difference between what your insurance company pays vs. what you owe on the vehicle.
So if you total a leased vehicle there's no advantage to having put down a down payment. Gap insurance has you covered in this respect to make sure you don't have to write a check to the lease company between what the insurance paid on the car and what's left on the lease payment plus residual value of the vehicle.
And yes, if you total a leased vehicle, you aren't getting a check at all, regardless of how much money you put down on the lease. You get to start all over again with a new lease or purchase and your down payment counts for nothing which is why it's stupid to put any money down on a lease beyond what's required to drive off with the car.
Dealer is instaling leather
I put 2,000.00 down and am paying $389 a month tax included.
Just wondering if this was a good deal?
MSRP 30,500.00
That's a big diference when gas is going to be high $3's this summer.
Any advice on getting a better lease rate from sources other than Nisssan/Infiniti or is Infiniti FX35 the best bet for lease right now? Where do you think 09 Murano money factor will be in 2-3 mos?
FX has much sportier ride and many complain it rides too harsh on anything but super smooth pavement. The engine in the FX is a beast, much, much more power than the Murano's engine.
FX has much better interior than the Murano, although the 09 Murano has improved in this area quite a bit. Murano has far better tech features than the FX with things like power hatch, bluetooth integration, ipod interface, etc.
FX is a better lease candidate not only because of lower money factor but also because of higher residual value after 3 yrs and 36-50K miles.
As far as gas mileage goes, my wife is averaging 17-19 mpg with her FX in 50/50 city/highway driving. She only puts around 10K miles a year on a car so gas price is not the factor it would be if she was a high mileage driver.
Dealers will straight up tell you that they can't lease Murano right now... why would you lease a Murano when you could have an Infiniti, Acura or Lexus for less money per month with similar features and a better warranty? Volume on Murano will have to build before lease incentives start to come up for the new Murano, probably end of summer or early fall.
We got the LE with the Super Black Exterior with Beige Leather Interior. Looks great in this combination. Dark interior looked good in old model - but we thought beige interior looks better in 09s.
Original Sticker was $40,511.00 and DVD Player was $1500.00. Cap Cost Came to $38,200.00. All this in a 42 Month Lease with 12K miles annually - $5,529 down - out of pocket (first payment - the 529-, taxes, titles, tags, etc.) and a Monthly payment of $529.00 I believe the buyout at the end of the lease is $19K and change. For a car with this many options - I believe we got a great deal. I know the DVD Players in the Headrest option was like $1500. I live in Virginia and shopped around at 6 dealers - the best we were offered in VA was $6200 down and $570 a month for the same lease - I took this deal back to the dealer where we originally leased our 04 Murano - Herb Gordon Nissan in MD and they beat it - no games and no hassle - did everything over the phone. I just showed up to pick up my car!! They gave me the model customer experience - twice! They have amazing customer service. I would obivously deal with them again in a hearbeat.
By the way - I have also test driven the Acura, Lexus and Infiniti this year. Thought maybe it was time to leave Nissan. My parents have the lexus and i drove it in Florida for two solid weeks prior to test driving the 09 Murano. I can honestly say - money aside - I felt the 09 Murano drove and felt better than ALL OF THEM. Maybe a personal preference. But even if cost was not a factor - I felt the 09 Murano was the best one. It is a truly amazing car. Just did a road trip up to NYC last weekend and this car was perfect. The bluetooth was awesome for answering calls with no effort, ipod connecter was very cool for listening to our library of tunes and controlling it through the vehicle, the traffic navigation helped us avoid some major tie ups on the beltway, the dvd players were great for keeping the little happy with dora the explorer, the duel moonroofs were great for taking in the views in NYC and overall the roomy seats and great handling made for a wonderful trip!!
I HIGHLY recommend this car.
All that being said, after test driving the FX35, Lexus RX350, Toyota Highlander, Ford Edge and the Murano, I have ordered my 09 Murano LE fully loaded and paid $300 over invoice. I am getting a lease through my credit union for 5 yrs/15K per year for no money down and $550 per month; $16K residual.
A week ago I leased a 07 Murano S AWD
Dealer is instaling leather
I put 2,000.00 down and am paying $389 a month tax included.
15K per year
Just wondering if this was a good deal?
MSRP 30,500.00
On 2/27/08 I posted a message # 660.
Could you please give your opinion or advice regarding the 2009 Murano lease?
Money spent adding DVD players, aftermarket leather, etc, to leased vehicles is money poured down a drain, it won't add anything to the residual of the car.
If you put $5K down on a low residual lease you would have been better off putting down $10K cash and simply buying the car outright.
Car_man
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Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Let's take a look at the other aspects of this deal. The 2009 Murano that you are interested in probably has a spread of around $3,000 between its full MSRP and its dealer invoice price. The $2,650 discount that you were quoted on this truck looks very attractive to me. Just make sure that the dealer that you are working with uses NMAC's current buy rate lease money factor of .00260 to calculate your monthly payment and you're in business.
Car_man
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My 05 Murano lease is up and I want to lease the new 09 Murano LE AWD The MSRP with options is $40,200 and the "invoice" is $36,874 per Edmunds and the dealer will either lease or sell me the 09 for invoice. But he said residual was only 49% and that's low. I buy 16K a year but usually go over. This is my 5th lease but first with such a high money factor because vehicle is so new. I found an internet site that uses USB for leasing with lower money factor (about 5% but they won't divulge) and no acquisition fee and only $196 in fees but I am not very comfortable using a non-captive lender. Too many unknowns. What's your experience with outside banks and service on the lease if there is a problem? I am considering purchase but I like leasing new technology and the Murano with no trade means high payments for 60 months and then a car with 85K and new sets of 20" tires plus maintenance costs. Any advice would be appreciated.
Car_man
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I am new here and looking for information. I have a 2004 Murano that I am turning in at the end of a lease in September. The care is in very good shape has new tires and will be at least 15,000 miles under allotment in September. I was just looking over my lease and there is a $395.00 penalty if I do not buy the car when I turn it in. Does turning it in with 15,000 miles left on my allotment give me any negotiating power in getting that fee waived or should I go across the country in it a few times? Foolish me for not noticing that penalty when I signed but it was never mentioned...of course. That fee makes me so angry I feel like jacking the car up and letting it run even though the fuel would be more than the penalty. Thank you in advance for any suggestions or help.
In addition to my Posts # 660 & # 684 here is the info you have requested
to check the dealer`s lease calculations:
MSRP with mentioned in Post # 660 options - $33260.00 (according to windshield sticker). And the name of the bank offering this lease program is US Bank.
Thanks, I`ll look forward to your result.
Mikefurm
Just leased a 09 murano after my 05 lease was up and I this deal was for an SL with Prem. Package with no money down for 448 a month including T & T. went to several dealerships and this seamed like the best deal. Looks like US Bank helped this deal to happen. What do you think? thanks
MSRP 36,955.00
2009 SL FWD
Premium Pkg.
Leather Pkg.
Technology Pkg.
Dual Panel Moonroof
Navigation Pkg.
Agreed Upon Price of Vehicle 33,761.36
Amount Due At Lease Signing 1500.00
39 Months $558.58 which is 522.04 plus 36.54 tax = 558.58
capitalized cost reduction 671.26
gross capitalized cost 35,055.36
The dealer quoted me thru Huntington vs. Nissan - said they are getting better lease deals thru them.
Would appreciate your input. And also trying to figure out how much I got it for in relation to invoice. Thank You
And no, you didn't get a good deal. While you got the car for only $800 above invoice it sounds like you got the lease with an extremely low residual and/or a not so great money factor. Additionally you cap reduced this lease by another $700. You should not be putting any money down on a lease beyond 1st month lease payment and acquisition charge, if required by the leasing bank.
$500+ a month lease payment should be on a $40K luxury vehicle, not on a $33K Nissan.
Regarding the EX, yes Nissan (opps Infiniti) has deals on them because they aren't selling as well. A fully loaded Murano is less then a EX, its bigger, and rides betters. the FX get a redo in 09....
My lease on my '04 Murano is up in April, but you can get an Acura MDX for a slightly higher payment than the SL and lower payment than the LE. In addition, with 15K mi/yr I get a full warranty with the Acura, but not with Nissan. However, the gas mileage appears to be quite a bit worse on the MDX.
Don't kid yourself...all cars are not selling very well...even the Murano. If you are willing to buy you can get a good price, but Nissan is not willing to push the leases so soon after the release of the new styling.
Drove the Ford Edge, but it is not the same. Anyone have any suggestions?
09 Murano SL AWD with Leather, Tech, Premium and Moonroof packages. Also based on no money down and 12,000 miles/year.
A 36 month lease is going to be $649.39/month and 1st payment due at signing.
Is it just me or is something wrong with these numbers? Don't get me wrong the Murano is a nice vehicle, but it's not $650/ month nice. Any others out there with better pricing for the same model and trim?
You should easily be able to negotiate an RDX without Nav and with no money down for under $500 a month.
As far as the Murano goes, the interest rate (called money factor on a lease) from Nissan is around 6-7% and the residuals are quite poor, around 50% I believe.
RDX and MDX base models both enjoy residuals for 3 yrs 36K miles of around 57-59% currently, which means you are paying for much lease of the vehicles depreciation to drive it for 3 yrs and 36K miles compared to the Nissan car.
Is this a reasonable price? What would good ballpark lease numbers look like, for, say, a 36 or 48 month lease? Zero down is the way to go?
Thanks for helping the newbie!
If you are really interested in the Murano you might consider purchasing it instead of leasing it, since you will likely get a better interest rate.
Actually, we just got back from the dealer. They made us this offer:
2009 Murano LE AWD
48 month lease
15,000 miles/year
Money factor .00270
MSRP $40,205
Residual $16,886 (42%)
Drive away cost $2000
Monthly payment $589 including tax
So, as far as leases on Muranos (Muranoes?) go, do you think this is this a relatively good deal? Or are we still better off to buy? This is mainly going to be used as a business vehicle, and I've been told there's generally a tax advantage to leasing.
Thanks!
Another dealer has an almost identical Murano and has given us this offer on a purchase:
2009 Murano LE AWD
MSRP $39,920
Selling price $37,500
APR 5.09%
60 months
Down $14,885
Monthly $500
How would you say this stacks up against the other dealer's lease offer?
Sorry for all the questions, still learning about this. I appreciate your help!
On 2-27-08 I posted a question (Post # 660) regarding 09 Murano lease calculations
It was partially answered and then I added more info (see Post # 687 from 3-13-08).
Is it possible to get your opinion on lease calculations made by the dealer
versus my calculations in which I used method recomended by several on-line sites.
Thank you in advance.
Mikefurm
Just stumbled on this message board, and it looks awesome! I am relatively ignorant on leases currently, even though I'm in a lease now. My car comes up in 1 1/2 months, and I want to lease a new 09 Murano LE AWD with nav and no overhead DVD. I was offered a very ridiculous 660/month with 3k down on a 09 LE. Based on the comments on this board, money down is a bad idea. Going with this dealer's "deal" is a bad idea too.
I have several questions:
1. What can I lease for 500/month with no $ down? I really want the Murano LE, but I can't find anyone to give it to me for less than 600/month (checked 2 dealers so far in VA). Anyone have a dealer in DC area that will deal with me on this?
2. I went to the Lexus dealer in VA and he offered me a 08 RX350 for 599/month. Still not in my price range. What's the best strategy for getting this lease payment down, short of paying money?
3. Any other suggestions for a comparable car to an 09 Murano that would give me similar space/features/performance?
I want to pull the trigger today (rainy day, last day of the quarter, etc).
Thanks in advance,
Gregg
Lease payments are derived based on the residual value of the car negotiated at the time of the lease, and the money factor, which works like an interest rate.
To get a good lease payment you want to pick a vehicle that;
1. Has great resale value (residual) based on the number of miles in the lease.
2. Is being sold at or close to invoice price.
3. Has a low money factor (triple zeros are ideal but anything under .002 is good).
The problem with the Murano is that it has a poor residual AND it has a crappy money factor. Blame the current economic situation and value of the dollar for this. Nissan isn't willing to subsidize the Murano (yet) to make more leases happen. They also might have a more negative view of where the US economy is headed and have adjusted production accordingly.
Now, on to vehicle choices. Nothing out there is going to have exactly the same features as the LE Murano, especially for under $40K. You need to prioritize which of those features is most important to you.
I can tell you that the Acura RDX, MDX, Lexus RX350, etc, are all great vehicles that can be leased with no money down and payments of $400-$550 per month depending on pricing of the vehicle and what credit level you qualify for on your lease. Entry level on all of these cars would generally include heated leather seats, driver seat memory, dual (or triple) zone climate control, and many other features. The biggest feature to AVOID when leasing a vehicle is navigation, as it actually makes the residual on the car WORSE than the same car without navigation.
Another option for you would be to buy out your car at lease end, drive it for a while longer and see if deals on the Murano sweeten in the next 6-12 months as the economy worsens. Nothing is going to motivate Nissan faster than thousands of these cars sitting unsold on their lots.
Good luck.
I wish I found this thread before I signed the contract
I got it for 399/mo for 39 months @12k miles/yr (got ripped off, right?)
here is my question
when I signed the contract, I paid $14xx as "sales tax" (plus first payment and some other fees with no money down, total $36xx)
does it mean I've paid all the sales tax for all my monthly payments? (i.e. only pay 399/mo without tax?)
thanx in advance
P.S.
just thought of another thing
originally they put my financing through Han Finance(or Hann, not sure about the spelling)
then they called me a day later saying they changed it to NMAC
is it normal?
thx again
I just started leasing a LOADED 2009 Murano LE AWD with EVERY option - moonroof, navigation, mats, cross rails, cargo protector, tire flaps, etc. We were really upset that you could not get a DVD player and the navigation system or moonroof. Tried to config online - but selecting overhead DVD greys out BOTH moon (makes sense) and navigation (does not make sense!). The dealer said it had something to do with the wiring. So we added the OEM DVD Players (INVISION) to the back of each headrest. Looks even BETTER to be honest than the factory option. So we literally have EVERYTHING in this car. (DVD NOTE: The DVD players were installed by the dealer and look amazing. Nissan considers INVISION DVD to be a NISSAN "dealer port" option. Only the dealer offers this option and they match the factory specs. INVISION items can ONLY be ordered and installed through the dealership. 3rd party companies and consumers CANNOT buy them and do it yourself. For this reason they are not considered aftermarket and convered under the NISSAN manufacturer warranty as well.)
We got the LE with the Super Black Exterior with Beige Leather Interior. Looks great in this combination. Dark interior looked good in old model - but we thought beige interior looks better in 09s.
Original Sticker was $40,511.00 and DVD Player was $1500.00. Cap Cost Came to $38,200.00. All this in a 42 Month Lease with 12K miles annually - $5,529 down - out of pocket (first payment - the 529-, taxes, titles, tags, etc.) and a Monthly payment of $529.00 I believe the buyout at the end of the lease is $19K and change. For a car with this many options - I believe we got a great deal. I know the DVD Players in the Headrest option was like $1500. I live in Virginia and shopped around at 6 dealers - the best we were offered in VA was $6200 down and $570 a month for the same lease - I took this deal back to the dealer where we originally leased our 04 Murano - Herb Gordon Nissan in MD and they beat it - no games and no hassle - did everything over the phone. I just showed up to pick up my car!! They gave me the model customer experience - twice! They have amazing customer service. I would obivously deal with them again in a hearbeat.
By the way - I have also test driven the Acura, Lexus and Infiniti this year. Thought maybe it was time to leave Nissan. My parents have the lexus and i drove it in Florida for two solid weeks prior to test driving the 09 Murano. I can honestly say - money aside - I felt the 09 Murano drove and felt better than ALL OF THEM. Maybe a personal preference. But even if cost was not a factor - I felt the 09 Murano was the best one. It is a truly amazing car. Just did a road trip up to NYC recently and this car was perfect. The bluetooth was awesome for answering calls with no effort, ipod connecter was very cool for listening to our library of tunes and controlling it through the vehicle, the traffic navigation helped us avoid some major tie ups on the beltway, the dvd players were great for keeping the little happy with dora the explorer, the duel moonroofs were great for taking in the views in NYC and overall the roomy seats and great handling made for a wonderful trip!!
I HIGHLY recommend this car.