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Prices Paid: Buying & Leasing Experiences Nissan Altima Lease Questions
1140 messages, Last post on Nov 23, 2009 at 7:02 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Hi, My 24 month 2007 Altima lease is up in March (15k miles per year). I have the 4dr SL with convenience package. I love this car and am considering going into another lease but I want to lower my payments which are currently $307 per month through NMAC. What do I do when I'm at the end of a lease? I'm willing to go into a 36 or 39 month lease if it makes my payments lower and I'd love to do this with no money down. I don't know how to/never have negotiated before. I'm in the Buffalo, NY area if this helps. Thanks in advance!
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We live just north of Wilmington, NC, and just took delivery last night of our new 2009 Altima. The details: 2009 Altima S Sedan w/ SL, CVT, both convenience packages, connection package, splashguards, and carpet/trunk mats. MSRP = $27,395 including delivery/destination charges. Invoice = $25,398. Navy blue w/ blonde leather. The final deal we took was from Dick Smith Nissan in Columbia, SC...which is 241 miles from our house. They started at $25,999 but quickly dropped that to $24,999 ($399 under invoice) as they knew I was looking at a lot of other dealers. Their fees were low compared to other dealers in the NC/SC area: $288 for doc plus $51 for SC temp tag/title fees. BUT because I live in NC, I would have to cover the NC inspection and NC tag fees (I think dealerships closer to the state line do this all the time but since they are in central SC, it was a new thing for them), which will total $98 (for new tags) or $85 (if I switch the tag from my soon-to-be off-lease Maxima). Then things got really interesting. We really wanted fog lights and a moon roof wind deflector added to the car. We really wanted fog lights since we live in a coastal area, many foggy mornings around here. MRWD was easy. BUT the add-on Nissan fog lights were a trouble. I had two other dealers quote $580 to $630 to have them installed. The net is that the GM at Dick Smith Nissan added $489 into the lease price to cover the fog lights and MRWD. BUT he also cut his doc/SC temp tag fees from $339 total to ...FIVE DOLLARS. I was amazed. So the paperwork shows that the sales price is $25,488, but we paid just $5 in fees to the dealership, so I think I came out ahead. The $595 acquisition fee is buried in the lease. I will still have to personally pay $30 to have the car NC safety/emissions tested and probably $55 for title/tag transfer fees to NC. Amazingly they delivered the car as part of the deal on a flat bed car-hauler to my house (241 miles each way!). And even more amazingly, they did so with no up-front credit card or any other payment, just took some info over the phone and got my NMAC pre-approval numbers. The car was delivered last night, 65 miles on the odometer, full tank of gas, 30 day temp tag in place, dealer decals removed, all manuals included, 2 key fobs, fog lights and MRWD installed, clean and perfect. Wrote the delivery driver a check for $350 (first payment and $5 in fees), signed some paperwork, and I have a new Altima in my driveway. Payment is $345.17, which is $335.13 for the lease and $10.04 in NC tax. 36 month lease, 12,000 miles/year. Money factor = .00158, Residual = 60%. Some will critique us for doing a lease instead of taking the $1500 rebate and buying. But around here with the salt air, vehicles just do not last...so the 3-year lease all within warranty is a good way to go. And I took this lease 3 weeks before my Maxima comes off-lease. I was concerned that the February incentives would be worse (especially the residuals, seems like thry go down as we get closer to the new model year), but who knows what Nissan and NMAC will offer in February? So we went for it, this will make us way under-milegae for the first month in the Altima. I was very pleased with the whole experience. I did have two other dealerships that seemed to want to deal: Pinehurst Nissan had the very best pricing (typically $600-$750 under invoice) that I could find, and seemed to want to really deal (said they would make my last Maxima payment!). But they did not have a car in the color we wanted (red or blue w/ blonde leather), and they sometimes would "forget" things they had committed to me. They did have a black/blonde 2009 Altima w/ technology package that had factory fog lights, and if they held up to what they said they would do it would only have been about $5 a month more than the blue Altima we leased in an equivalent deal, with reduced fees to "make my last Maxima payment". But our 2007 Maxima SE is black and we wanted a change. Plus w/ the technology package the silver CD changer looks like an ugly afterthought centered in the woodgrain on the console. Looks better with the silver trim, which you get w/ the charcoal seats (but those are too hot in the summer). Also Deacon Jones Nissan in Goldsboro was very willing to deal, $500 under invoice. We were set on a red one there ($1500 total up-front, $309 a month...nets out to about $342 a month total) but fog lights killed the deal, they said it would add about another $17 a month. They wanted $630 to install them and their $499!! doc fee was outrageous. They said they were "all-in" but once we had the deal on the blue one they offered to match the deal, and increase the monthly payment by just $4. But they were good to work with. I want to thank all the contributors (especially Car_man) for the help on this forum. And advice: The color combos we wanted were very rare, I searched the Nissan site for inventory at every dealer within 300 miles and there were just 4 red or blue w/ blonde leather and at least both convenience and connection packages. Dealers were much more interested in dealing for their on-the-lot stock. My advice is, use the web to find the dealers that have your exact color/option combos, and play those dealers against each other. They will all ask "when are you going to come in"...just insist that you are going to do this by phone and email (mainly email). And they just about ALL said they would deliver.
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car_man, Would you happen to have the current NMAC residual and money factors for a 24 month lease on a 2.5S, 15k miles per year? TIA!!
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| I have had 5 Altima and for the first time want to buy the residual. In todays time is this ever negotiable? Unfortunately my daughter had accident in car and its being fixed . 8000 in damages. Residual is 11,500 for a 2006 has 43000 miles. I am thinking why would Nissan want this car back with a terrible car fax. Do you think I cna negotiate and who do I do that with? Nissan finance or a dealer? | |
After reading so many of these posts, I realize that I need to really learn a lot more. Is there anywhere on this site that explains what all the terms mean?
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I am in desperate need of some help. My current FX35 lease expires tomorrow, and with the loyalty preapproval, I have to lease a new vehicle tomorrow to use the preapproval (which I really want to do). After having discussions with 4 dealerships in my area, this is the best that I have come up with: Car is 2009 Altima SL with con, con plus, connection packages 39 months MF: .00158 0 down Monthly payment: $342.69 (inc tax) Residual: $15,890 Total Cap Cost: 26,268 Questions: Seems they are calculating the depreciation as MSRP minus residual. Is this correct or should it be Total Cap Cost minus residual? Also, is the Money Factor good? It seems a bit high. Can I negotiate that? Can I use the $500 wear and tear for my current lease to go toward the new one since I have no additional wear and tear? Is there any other loyalty for trading in my infiniti??? Overall is this a good lease? Everyone is saying the $1500 rebate is not applicable on leases. Is this true or another line they are feeding me? THANKS SO MUCH for your help!
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Replying to: blackfx35 (Feb 08, 2009 7:25 pm) I just leased a new Altima, turning in a Maxima on lease. I can answer some of your questions: 1) The $500 will not go to a new NMAC lease. 2) The $1500 rebate will not apply to a new NMAC lease. 3) The .00158 money factor is consistent. That equates to 3.79% interest, not too bad. 4) There are a number of lease calculators online. Use one to check the dealership's numbers. I like http://www.leaseguide.com/calc.htm It is hard to tell if it is a good deal. Is your $595 acquisition fee paid up front or buried in the lease? What doc/tag fees are you paying up-front, if any? What is the tax rate in your state and are they paid up-front or as you go? What is the MSRP of the car, what is the invoice (edmunds.com will calculate it for you) and what is the sales price? I was told by NMAC that there were no added loyalty incentives but IF there were any the dealer would communicate them to me. Based upon my experiences, here in NC/SC the dealers were at best about $650 under invoice on a similar car without the rebate. Seems like in the northeast the prices are significantly lower. Just one note NMAC just this year started another fee, a $395 disposition fee at lease-end. Good Luck.
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Replying to: cmyawn (Feb 09, 2009 4:52 am) I just got off the phone with another dealership, they can do $330 flat per month (including taxes). Same 39 months. First months payment to drive off the lot with it. A bit better.....
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Replying to: blackfx35 (Feb 09, 2009 9:26 am)
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Replying to: Car_man (Oct 11, 2005 2:34 am) Thank you so much for your help! This is my first visit to this site and reading the exchanges between you and the folk are very helpful...Again, Thank You.
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