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2013 and earlier Nissan Murano Lease Questions
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Comments
As already explained you did not get a "good deal" considering the amount of money you had to put down on this lease in addition to the numerous extra expenses incurred to put zero residual options in the car at great out of pocket expense.
Here's an example of the actual residuals on the Acura MDX for March, as you can see, residual on the "tech package" which consists primarily of the navi system is lower than the base model.
So from what you can see here the vehicle equipped with the tech package (navigation) is worth 2% less of its original price than the base model car after any period of time.
2008 Acura MDX – 3/5/08
24 Month – Residual 66% of MSRP – .00197 Base Rate
36 Month – Residual 56% of MSRP – .00197 Base Rate
48 Month – Residual 46% of MSRP – .00220 Base Rate
60 Month – Residual 36% of MSRP – .00230 Base Rate
2008 Acura MDX Technology – 3/5/08
24 Month – Residual 64% of MSRP – .00197 Base Rate
36 Month – Residual 54% of MSRP – .00197 Base Rate
48 Month – Residual 44% of MSRP – .00220 Base Rate
60 Month – Residual 35% of MSRP – .00230 Base Rate
Look at a five year old built in car navigation system that cost $3000 and compare it to what you can get in a new $400 pocket GPS and you can see why these types of "tech toys" don't do much for resale value of a vehicle... the technology just ages too quickly compared to how quickly the vehicle itself ages.
- 39 months, 10,000 miles/year
- $1,999 down payment
- $459/month
- $298 documentation
- $750 destination (I don't understand why I have to pay destination again even though it's already included in the $40110 MSRP)
- Sales tax
- Registration fee TBD
- $45 Dealer optional fee for processing application
My favorite color is glacier pearl but this dealer only has silver with black leather. Other dealers who have glacier pearl cannot offer better pricing.
Any feedback is much appreciated. I am ready to sign the lease this weekend!
Are you a Nissan dealer?
2009 Nissan Murano S AWD – 3/5/08
24 Month – Residual 69% of MSRP – .00270 Base Rate
36 Month – Residual 57% of MSRP – .00270 Base Rate
48 Month – Residual 48% of MSRP – .00270 Base Rate
60 Month – Residual 42% of MSRP – .00270 Base Rate
2009 Nissan Murano SL AWD – 3/5/08
24 Month – Residual 64% of MSRP – .00270 Base Rate
36 Month – Residual 53% of MSRP – .00270 Base Rate
48 Month – Residual 45% of MSRP – .00270 Base Rate
60 Month – Residual 38% of MSRP – .00270 Base Rate
2009 Nissan Murano LE AWD – 3/5/08
24 Month – Residual 60% of MSRP – .00270 Base Rate
36 Month – Residual 50% of MSRP – .00270 Base Rate
48 Month – Residual 42% of MSRP – .00270 Base Rate
60 Month – Residual 37% of MSRP – .00270 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
Compare Lease Payments for Used Nissan Models HERE
Use the following formula to calculate a lease payment:
(Cap Cost – Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) X Money Factor = Interest
Depreciation + Interest = Base Monthly Payment
Just FYI...
Leather Package
Premium Package
Dual Panel Moonroof
Tech Package
Roof-Rail Crossbars
Mats
15K mi/yr
39 mo
$3,350 out of pocket
$401/mo + 9% PA tax = $441/mo
.00215 MF - Murano owner whose lease has expired
I could have gotten a little better deal via US Bank (lower MF), but was willing to pay a little extra to go with Nissan Finance.
Picked it up tonight. I'm very happy, but I did spend a lot of time negotiating. I was paying $358 for a 2004 Murano SL (virtually same MSRP w $3K OTD), but that was an extraordinary deal provided by Nissan Finance.
Shopped them all: MDX, Edge, RX350, Pilot. Even with poor MF this is the best value on the market.
Happy Shopping!
If you are doing 10,000 miles a year it doesn't sound like NMAC ( nissans bank )
Alot of dealer are quoting outside banks because they have lower payments. I highly urge to stay away from outside banks when leasing because they don't care if you lease with them again. They are the ones that will have high dispo fees and wack you with every ding, scratch, and missing bliker fluid... But seriously try and stay with the manufacturer who is selling the vehicle.
GP
Special bank lease programs for these models are available through LeaseCompare.com. Click on the vehicle name for more information and to see payments details.
2009 Nissan Murano S AWD – 4/18/08
24 Month – Residual 69% of MSRP – .00240 Base Rate
36 Month – Residual 57% of MSRP – .00240 Base Rate
48 Month – Residual 48% of MSRP – .00260 Base Rate
60 Month – Residual 42% of MSRP – .00260 Base Rate
2009 Nissan Murano SL AWD – 4/18/08
24 Month – Residual 64% of MSRP – .00240 Base Rate
36 Month – Residual 53% of MSRP – .00240 Base Rate
48 Month – Residual 45% of MSRP – .00260 Base Rate
60 Month – Residual 38% of MSRP – .00260 Base Rate
2009 Nissan Murano LE AWD – 4/18/08
24 Month – Residual 60% of MSRP – .00240 Base Rate
36 Month – Residual 50% of MSRP – .00240 Base Rate
48 Month – Residual 42% of MSRP – .00260 Base Rate
60 Month – Residual 37% of MSRP – .00260 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
Compare Lease Payments for Used Nissan Models HERE
Use the following formula to calculate a lease payment:
(Cap Cost – Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) X Money Factor = Interest
Depreciation + Interest = Base Monthly Payment
NOTE: These lease programs are provided by dealer partners of LeaseCompare.com and are for reference only. Rates may vary by region. Your dealer has the option of offering you a higher rate. To make sure you are getting the best lease, compare these rates through an independent leasing source such as LeaseCompare.com.
Here is a great online publication about leasing: Auto Lease Insider.
Negotiated Selling Price $26,800
Convenience Package
Splash Guards
Mats
15K mi/yr
36 mo
$626 down (1st month payment+$180 doc fee + $23 title and registration)
MF=0.00240
Residual=57% MSRP
$399 + 6% MI tax = $423/mo
Very happy with this deal.
Comments or thoughts?
I'm looking to lease a 2009 SL-AWD for 39 months , with paying the first month and taxes up front with the following options ,Premiun, Tech, Leather, cargo protector and mud flaps. I have asked dealers for their best prices with those options and for a price if I wanted to add the Nav option. My credit rating is in the 800's. The pricing coming in is really strange in one price with the nav option I was given a price of $38, 180 and monthly payments of $474 per mo. Another dealer gave me a price of $31,000 for the same car with a monthly payment of $500 per month but it could be lowered to close to the $474 price. I'm still trying to figure that pricing out, can somebody explain that to me how a car whose selling price is thousands more can come in with a lower monthly payment?
I should mention that at the present time I have a 2005 Murano SL-AWD loaded with everything but the Nav system. with only 5 more payments to go at $385.50 per month. The car has only 21,300 miles on it and is in near perfect condition inside and out. Dealers keep telling me that with this mileage they'd love to get this car on their used car lots. I have told them that I don't want to pay for this car in my new lease. One dealer told me whatever anyone tells you...you will pay.
Anyway so far my lowest bid is $474 per mo with the the options I wanted and the nav system. A few dealers have asked me to wait for their offers. I have already given most them the $474 information so, I'm expecting them to come in lower. I've also been advised to watch out for leasing from other banks because of the cost at the end of the lease.
Before I leased this Murano I had leased a Maxima through Nisaan so I'm a loyal customer. I've also been told to get in touch with Nisaan to see if they'll reduce my present lease since I want another
Nisaan. Many of the dealers told me they can do this but when they call Nisaan I think the price they're given is turning them off. Anyway I'm going to try, it doesn't make sense to mabye lose me as a customer because of 5 more payments.
Any advice you could give would be appreciated. Whatever the best price I get I will tell the dealer that when I get to their dealership to sign the deal if the price is $1 more what was agreed too I will walk out.
Car_man
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LE with nav , dual panel moonroof
0 due at signing 665 a month
Vehicle Price: $39,675.00
Internet Customer Discount: $3,437.00
Selling Price: $36,238.00
Sales Tax (estimate): + $2,235.67
Tag/Registration Fees (estimate): + $150.00
Tire/Battery/MVWEA: + $8.50
Documentation Fee: + $599.95
Balance Due (estimate): $39,232.12
SL with premium, nav, and tech
zero due at signing
604 month
Vehicle Price: $38,555.00
Internet Customer Discount: $3,675.00
Selling Price: $34,880.00
Sales Tax (estimate): + $2,154.19
Tag/Registration Fees (estimate): + $150.00
Tire/Battery/MVWEA: + $8.50
Documentation Fee: + $599.95
Balance Due (estimate): $37,792.64
does anyone know if the 0.00240 money factor or any incentives have been improved in May? The dealer told me current promotions expired at the end of April.
I've got my eye on the SL AWD with premium and leather packages for $30,445 ($200 under invoice) but the low residual and high money factor are not making even this deal as sweet as I'd want it. Any thoughts?
Thanks.
I agree the MF is poor (B of A is quoting lower rate for financing a buy). I don't know if other lease companies (outside Nissan) have a better deal, but D&M couldn't get us a better rate on the MF. The Lexus RX350 was in the .00225 range (they quote .0019 as the base rate in these forums, but I have yet to see the dealers work to that number).
So best of luck. We are having to pay around invoice for ours since we have been only able to locate one car set up the way we want among more than 20 dealers within 400 miles.
Is it true that selling this particular car at this particular time at invoice the dealer will barely or not even make any money? I bought my v6 Accord for $2.2k below invoice in 2005, so I didn't expect to negotiate to only $200 below invoice (so far). 0.0024 is making it impossible to justify the lease thus far.
I think they are trying to push the AWD. The plain SL residuals are 1% lower. Our dealer told us the AWD was 53% and non AWD was 52% for 15,000 miles. I think this number is what they want it to be within a narrow range. They probably (my cynicism here) quote a lower than best residual rate and make money that way also. So far, every dealer with whom I have spoken hasn't quoted what is being posted here (not just for Nissan, but other brands). It's like the money factor, I think it starts adverse to you and has to be negotiated over a lengthy period. On our Murano, they weren't willing to budge from the .0027 for a long, long time. As a result, we haven't pulled the trigger as my calculations are always resulting in what should be a lower payment number than they come up with, even when the dealer claims to be providing a "better" deal. They just reach into the other pocket to massage the numbers a bit more. We are actually seeing a lease quote for a Lexus RX350 nearly equivalent, which is surprising.
He said that if I didn't have the lease, the lease payment for the car would have been $480 per month x 38 = $18,240 his offer was 38 x $535 per = $20,330 minus the $1927.50 he would pay off = $18, 402.50.
I figured out the total cost both ways and if I would have taken his deal it would have cost me appox $162.50 more over the next 39 months plus losing 5 months of leasing time. It seems like a great deal to get into a new car 5 months early.
Just a reminder my current 2005 Murano SL-AWD loaded with everything but nav has 21,350 miles and is basically in excellent condition.
Was this a great deal I should have taken or is there something hidden that I'm missing? Since I 'm very leary of dealers what's your opinion?
Thanks
Want to pull the trigger on a SL AWD with premium, leather and tech,, but cant justify almost 5.76 % interest on the money factor with a unfavorable 54% residual. That is an awful lot of money each month in interest. The cost of the vehicle isnt bad but over $100 in interested every month is tough to swallow. Interest rates are so low, you cant even get 2% on a CD. What is up with the crappy money factor???
Money Factor: .0024
Residual: 54% on paper - was offered 55%
Reduced CAP Cost: offered $2,833 off MSRP (said to be $500 over invoice)
Monthly Payments: $592.34/month (includes Finance/Tax)
Drive Off: $1,163.07 (no down payment)
Did not get though. Decided to wait.
Just a note here for everyone... the reason for the high Money Factor and low Residual (I got .00146 Factor and 58% Residual on my 2006 Murano), is because the 2009s are not really suppose to be on the books until Sept 2009.
If you can wait, do so. Nissan is trying to move the 2009 early to capitalize on the Factor and Residual. Business is business.
If anyone is interested, I have the complete numbers on the offer I mentioned above. I'm a software engineer that has written several auto lease programs...
Happy shopping!
Today I got a call from the same dealer who said that they have a special lease termination program (i am on my 6 months out of 39) and that if i end my lease they will give me $1000 off the new lease on 2009.
Does anyone know what the recall is about?
Sounds strange that dealer is offering such a deal. Are there some problems with 2007 and they are trying to bring them back? Are 2009 not selling at all?
Any guesses.
(S awd)
$347 per mo. / 39 mo.
$1,248 fees
$0 down
I'm interested on the offer numbers for an 09'. You can email them myrlora@bellsouth.net
Thanks,
RL
MF- .0022
Residual- 17,425.65
Price- 27,268(claims invoice)
1000 down
monthly- 442 includes tax
Thanks,
Jake
A couple of thoughts--
1) Do not put any more money down than is absolutely required. Remember, if you total the vehicle, you're not going to get any of your down payment back. Be sure to know how the dealer is using your down payment. For example, is he charging you a ridiculous document fee of $500?
2) A payment of 442 seems way too high. I ran your numbers using NJ sales tax (7%), and I come up with a payment well under $400. When I purchased my Murano, I took my laptop into the dealership and made sure that my dealer's numbers matched up with my lease calculation spreadsheet. If your dealer is unwilling to show you his calculation sheet for the lease, then walk away.
3) Consider leasing your vehicle for 36 months. If something goes wrong with the vehicle in months 37-39, it will not be under warranty, and you'll be required to fix the problem and pay for it.
Hope this helps.
My lease ends in 09. Will the buyout price will be lowered because of a decrease in demand for SUV's with regard to the increase in gas prices? Thanks.
I don't expect to find a bunch of RDX fans here in the Murano forum. Each car has its own ups and downs. Price/mf is one consideration when I buy a car, it's not everything. OTOH, I'm not willing to pay a high mf just because a car is new or hot.
I have never leased a vehicle and trying to decide if this is a good way to go for us. Is now a good time to lease a 2009 Murano? Also, we are HEAVY drivers. We would probably put 18000 miles per year on the vehicle. I haven't talked to NMAC about any of this yet -- I don't even know the variables that would come into play here. In playing with some numbers that I found in the forum here it looks like my lease payment could be well over $500/month for 36 months and 12k miles/year assuming zero down -- that seems pretty steep to me. :-)
Long story short, I would appreciate any feedback on any of the above data. Purchase price, any info on current Murano leasing data and/or strategy, and how I might want to approach this given my annual mileage (maybe I should just buy it).
Thanks in advance for any feedback!
fp
June Murano MF & Residual.