Last post on May 21, 2013 at 9:04 PM
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Nissan Altima, Nissan Altima Hybrid, Car Leasing, Sedan
#1252 of 1905 2010 Altima 2.5 S with 2.5 SL Package
Jul 13, 2010 (7:48 pm)
Hi and thanks in advance, Car_man.
We were in a Nissan dealership in Cincinnati and we were offered this deal:
2.5 S with 2.5 SL Package
* Splash Guards
* Premium Audio Package
* Convenience Package
* Convenience Plus Package
* 2.5 SL Package
39 months/15K miles, $2000 due at signing, $349/month out the door.
$15000 to buy at the end of the lease, I believe.
Is that payment too high?
#1253 of 1905 Re: Am I nuts? [delta737h]
Jul 14, 2010 (9:38 am)
Using your numbers (in your ex.) I come up with a monthly payment of $316.87.
"NOTE: Monthly Payment = MF x (Adj Cap + Res Val) + (Adj Cap - Res Val) / Term"
Did you typo or do I need to go back to basic math skills school.
(please be kind)
#1254 of 1905 Re: Am I nuts? [hvn]
Jul 14, 2010 (10:12 am)
Your formula is correct but, when I plug in the following numbers in my example,...
Adjusted Capitalized Cost
Residual Value (Residual Factor Χ MSRP)
Monthly Lease Payment
P = 0.00173 x (28,294.65 + 16,965.45) + (28,294.65 - 16,965.45) / 36
I'm sure your math skills are just fine. I make more mistakes than I care to admit. Thanks for checking my calculations.
#1255 of 1905 math skills...
Jul 15, 2010 (10:04 pm)
Now I got it!
You might get a laugh to know that out of 10 salesmen that I have delt with over the last few days, not one knew how to figure out a lease with out a computer.
It was VERY useful to run the numbers right in front of my salesmen and to show them how it works.
I leased 15 k miles per year, a nice Altima 2.5S with an adjusted cap of 21060, Residual Value of 12 thousand odd, a MF of .00112 (!?!!!?) over 39 months from Nissan credit (tier 1.)
265 a month and 265 down (first payment.) Everything else went into the lease (tax,lic,doc etc. etc.)
You, car_man and Edmunds saved me a LOT of $$$.
The only thing I did not like was the Nissan lease eContract that seemed to say that I had to pay $1400 (or so) at the signing of the lease. Even though I was not paying it and the dealer was paying it (with Nissan Corp incentives.)
At least that was how the finance manager explained it...
I hope I will not be getting a bill for $1400 in the mail...
I only gave them $265 and drove the car home...
Am I ok?
#1256 of 1905 Re: math skills... [hvn]
Jul 15, 2010 (8:33 pm)
I'm not surprised that the salesman wasn't able to manually compute lease payments. Actually, it's rather sad.
It sounds like you got a good deal but, without seeing the contract details, I can't say with absolute certainty. The two most important items are the sell price (agreed upon value- disclosed in your lease agreement) and the money factor (not disclosed in your lease agreement).
Your contract is your bible so to speak and would indicate the extent of your liabilities. However, Reg M disclosures (retail lease contracts) leave a lot to be desired. Without seeing it, I don't know whether or not you're liable for the $1,400.
Anyway, good luck!
#1257 of 1905 Re: math skills... [hvn]
Jul 16, 2010 (6:06 am)
Did you get a coupe or sedan at this price? What's the MSRP? I'm looking for Altima coupe 2.5S with premium package.
#1258 of 1905 Is it a good deal?
Jul 16, 2010 (11:35 am)
The dealership offered me on a Altima Coupe 2.5S with premium package:
Adjusted CAP: 24,412
Residual value: 14302.60
15,000 miles per year
MF: .00133 (with approved credit)
Monthly payment with all fees: $335
Is this a good deal?
#1259 of 1905 Re: Altima Lease Trade-in and New Sentra Purchase [wawzj619]
by Car_man HOST
Jul 21, 2010 (4:06 am)
I certainly do, wawzj619.
Nissan Motor Acceptance Corp.'s July buy rate lease money factor and residual value for a 36 month lease of a 2010 Altima Coupe 2.5S with 15,000 miles per year are .00133 and 53%, respectively.
When negotiating your lease on this car, make sure to take into account the $500 bonus cash that is currently available on it.
Prices Paid: Buying & Leasing Experiences Forum
#1260 of 1905 Consider new Altima lease -- CT or NY?
Jul 25, 2010 (6:08 pm)
Thanks to all for the great posts and responses. I've been a long time lurker and find this site to be very educational (especially postings by Car_man and delta737h). I'm considering leasing the 2010 Altima 3.5S and have my lease proposals ready for negotiation. Here is the wrinkle.
I currently live in NY but will be moving to Greenwich, CT (slated for mid August). I'm torn because I'd like to capitalize on the current incentives. Couple of quick questions...
1) Would you recommend that I lease before current incentives/offer expire (8/2) in NY and change over to CT?
2) Alternatively, I can wait until my move to CT, change license, and find competitive lease offering in CT. However, if I live in CT, can I still take advantage of out-of-state dealers in NY?
Thanks all. Apologies if these are duplicative questions. Thanks in advance for your help.
#1261 of 1905 2010 Nissan Altima 3.5SR (sedan)
Jul 27, 2010 (10:51 am)
Does someone have the money factor and residual 10k miles/yr and 12k miles/yr?
This will be for a 2010 Nissan Altima 4dr Sedan V6 CVT 3.5 SR (including premium and sport package). I have an excellent credit score (approx 750).
Thanks for your help.