Last post on Nov 27, 2013 at 6:28 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Nissan Altima, Nissan Altima Hybrid, Car Leasing, Sedan
#260 of 2048 Re: 2007 Altima 3.5SL 12K question addition [bolek]
Mar 16, 2007 (3:10 am)
Hey bolek. NMAC's money factor for a 39 month lease of the 2007 Altima 3.5 SL is actually a little worse than its 36 month factor, but the three additional months will probably make the monthly payment for a 39 month lease slightly lower than it would be for a 36 month lease. NMAC's current 39 month, 12,000 mile per year buy rate lease money factor and residual value for this car are .00249 and 56%. I've never seen a NMAC lease of a Nissan with only 10,000 miles per year. I'm not sure that it offers leases with that low a mileage allowance. The numbers for a 39 month, 12k lease of an '07 Altima Hybrid are .00255 and 55%.
Prices Paid Forum
Mar 16, 2007 (3:17 am)
Hi garbou. Dealer invoice is a good price for a 2007 Nissan Altima. The money factor that you were quoted is a little high though. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Altima 2.5 S with 12,000 miles per year are .00221 and 60%, respectively. Make sure that the dealer that you are working with uses this factor to calculate your car's monthly payment and you're in business. Despite the fact that this is a good deal for this car right now, as others have mentioned a number of other cars are much better deals than the Altima right now. If I was in the market for a new vehicle, I personally would not lease an Altima until Nissan increases its lease support on it.
Prices Paid Forum
#262 of 2048 Re: 1st time lease---Altima 3.5sl, a good deal??? [eace2063]
Mar 16, 2007 (1:41 pm)
I just wanted to see how much is Nissan Altima lease is.
And I realized that it is suggested "in NY ... $400.00 lease for the 3.5SL as is and up to $440.00 for added features".
I leased 2005 Acura MDX for $435 including taxes and fees">. Why would you want to lease a Nissan Altima for $400?
#263 of 2048 Re: 3.5 SE Fully loaded... [dpanda]
Mar 18, 2007 (3:31 am)
Hi dpanda. The money factor that you were quoted is right in line with Nissan Motor acceptance Corp.'s buy rate for a 36 month lease of a 2007 Altima 3.5 SE. The residual value is correct as well. As far as pricing goes, the car that you described has a spread of around $3,000 between its full MSRP and its dealer invoice price. The $2,548 discount that you were quoted looks pretty good to me. If you like the car, I personally don't see any reason not to proceed with this deal. I just double checked the payment that you were quoted using the numbers that you provided in your post and I also came up with $402 per month.
Prices Paid Forum
#264 of 2048 Security deposit "waived", but money factor increases? Hmmm...
Mar 18, 2007 (9:29 pm)
We are currently negotiating a lease on a 2007 3.5 SL Altima with 2 local Southern California dealerships. Both dealerships offered to "waive" our security deposit because of our good credit rating. At some point when crunching numbers we noticed a discrepancy on the money factor in the lease. They explained that many people opt to increase the money factor by .00015 rather than putting down the security deposit. The assumption was that the security deposit was capitalized over the 39 months. Our money factor for a 39 month lease was .00249, with a residual of 56% 12k miles. This increase brought the money factor to .00264. With more thought on this one, it occurred to me that their generous "waiving" of the security deposit and increase of the money factor now means this deposit goes "poof" and we will never see the money back that the increase in money factor adds to our lease payments. We suspect this is a scam and I was just was curious if anyone else had this experience with dealerships. We are in the process of having the car transported and the dealership will be preparing the paperwork tomorrow, so any feedback would be appreciated.
#265 of 2048 Re: Security deposit "waived", but money factor increases? Hmmm... [mc077]
by kyfdx@Edmunds HOST
Mar 19, 2007 (2:51 am)
It isn't a scam, but it was a mischaracterization of the process by your dealer..
If they were really waiving the deposit, because of your good credit, there wouldn't be any adjustment in the money factor. The .00015 MF bump is the standard increase for someone who wishes to waive the deposit, and as you correctly calculated, this will raise your payment.
I doubt the dealer benefits from this transaction (minimally, if they do), but they probably see less resistance to price, when a customer doesn't have to make a security deposit.
It would be in your financial interest to make the deposit, and have them use the lower money factor.
#266 of 2048 Good Deal? [Car_man]
Mar 19, 2007 (4:37 am)
I'm also in the market for a 2007 Altima 2.5S with 15k miles, and convience package.
Are there web sites or forums that perhaps give some guidance or tip-off about possible cash back to dealer/customer or lease supports for the upcoming month? If money is forthcoming in April, I'll wait. Thanks!
#267 of 2048 Lease/ Good deal or Bad?
Mar 19, 2007 (6:28 am)
Offered Lease-36 months-Horsham, Pennsylvania- 2007 Nissan Altima 2.5 S-4 cyl- auto trans with fog lights and mats-no additional packages. Orig msrp- $21835.00, Base Invoice: 20,324.00, Vehicle Price: $19,800.00, Acq Fee- $595.00, Gross Cap Cost: 20395.00, Net Cap Cost: 19375.57 - Lease Monthly Payment: $265.32 with $1500.00 down? I have no clue where they got the Cash Reductions fee of $1019.43, hidden costs in there? Don't know if I got a good deal?
#268 of 2048 Re: Security deposit "waived", but money factor increases? Hmmm... [kyfdx]
Mar 19, 2007 (12:01 pm)
Thanks for the response... I think that using the statement "We'll WAIVE your security deposit because of your good credit" may not be classified as a scam, but it is at the very least very misleading. It is not WAIVING it if you are then charged with an increase in money factor. Especially when they don't disclose the increase in conjunction with the statement.
Thanks for your advice. I called the dealer and insisted that I will put the security deposit down in cash at signing and I wish to have my money factor lowered accordingly. Is there a standard amount that the security deposit should be? One dealer quoted us $2000 and the other $500. I think I prefer the $500
#269 of 2048 Re: Security deposit "waived", but money factor increases? Hmmm... [mc077]
by kyfdx@Edmunds HOST
Mar 19, 2007 (12:19 pm)
It is your monthly payment rounded up to the next $25 or $50 increment (not sure which amount Nissan uses). It is set by Nissan Finance.
You are correct, I think... Definitely not a truthful way to describe the waiver..