- #2 of 136
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2006 - Armada LE Lease Quote
by minaldo1
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Nov 08, 2005 (12:25 pm)
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I got a quote on an 06 LE. It has the nav and dvd entertainment, as well as technology package and some others. MSRP is $48,695. Working with CarsDirect.com. I'm a returning Nissan owner. They gave me a price of $43,683 (they said it excludes $1,500 rebate b/c Nissan does not include this on its "premier leases"). Still this is below invoice of $44,500 (roughly). The lease term is 39 months. 12,000 miles per year, although I could easily do 10,000 per. I was told a money factor of .00218 (seems a bit high to me) and a residual of 52% (does this seem low?). Anyway, with nothing up front but taxes, they gave me a monthly payment of $675. First, I have a lease calcuator that I've used for years (always accurate) that indicates with these inputs the monthly payment should be $619. Second, can I expect to find better numbers than these? This seems pretty high to me.
Thanks
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- #3 of 136
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06 LE Lease
by minaldo1
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Nov 08, 2005 (12:41 pm)
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Oh, I forgot to mention above is for a 4WD model.
Thanks
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- #4 of 136
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Armada Lease - Anyone?
by minaldo1
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Nov 09, 2005 (12:45 pm)
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Car_Man, can you give me any feedback on the above lease quote. Please.
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- #5 of 136
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Re: 2006 - Armada LE Lease Quote [minaldo1]
by Car_man HOST
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Nov 14, 2005 (3:27 am)
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Replying to: minaldo1 (Nov 08, 2005 12:25 pm)
Hi minaldo1. If you are able to lease this truck with a selling price that is below invoice, you are getting an excellent deal. As far as this truck's lease money factor goes, its buy rate factor for a 39 month lease of any 2006 Armada is currently .00203 for consumers who pay a security deposit and qualify for its top credit tier. Its residual value is currently 52% for this term with 12,000 miles per year. Using these numbers, an MSRP of $48,695, and a selling price of $43,683, I estimate that this truck's zero down, pre-tax monthly payment should be around $611. As you can see, something is not right about the lease payment that the dealer quoted you. I doubt that you will be able to get a much lower selling price than the one that you were quoted, but as I said for some reason this price is not translating into the correct lease payment.
Car_man
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- #6 of 136
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Re: 2006 - Armada LE Lease Quote [Car_man]
by minaldo1
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Nov 18, 2005 (12:11 pm)
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Replying to: Car_man (Nov 14, 2005 3:27 am)
Car_man, thanks. Glad to see my lease calculator is in working order. I don't understand why they would tell me the best money factor I can get is .00218, when you are showing a slighlty lower one. I'm a 3 time lease Nissan customer with outstanding credit (in the 780s). And the lease payment should be about $70 per month less. That's serious money. It really bothers me that they monkey around with the numbers like this, all they do is destroy their credibility and poison the relationship. Would the residual go up much (and my monthly lease cost down) if we use 10,000 mile per year cap instead of 12,000? Also, is it true that NMAC does not offer the car rebate ($1,500)on leases? Thanks
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- #7 of 136
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Re: 2006 - Armada LE Lease Quote [minaldo1]
by Car_man HOST
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Dec 20, 2005 (3:08 am)
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Replying to: minaldo1 (Nov 18, 2005 12:11 pm)
You're welcome minaldo1. I can certainly understand why you are annoyed. I would be as well if the dealer that I was working with was trying to mark up the money factor of the car that I was interested in. Try not to take it too personally though, it's just business. Now that information on invoice prices and incentives are available on sites like Edmunds.com, dealers are putting more effort into making money on the back-ends of deals, like by marking up interest rates. If they didn't, a lot of dealers would probably have to close their doors. Now that you know what this car's money factor should be, don't let them mark it up on your deal.
I don't believe that Nissan Motor Acceptance Corp. offers 10,000 miles per year leases on Nissan division products. Yes it is true that Nissan's normal customer cash incentives are not compatible with its special lease program.
Car_man
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- #8 of 136
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Armada lease
by buster6
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Jan 30, 2006 (10:24 am)
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Could you please provide the current 3yr/15k money factor and residual on the armada. Thanks!!
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- #9 of 136
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Re: Armada lease [buster6]
by Car_man HOST
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Feb 21, 2006 (4:49 am)
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Replying to: buster6 (Jan 30, 2006 10:24 am)
I sure can, buster6. This truck's lease program varies by trim level though. For now, I will provide you with information on the 2006 Armada LE 4WD. Let me know if you want a different model. If you were to lease this truck through Nissan Motor Acceptance Corp. right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00163 and 51%, respectively.
Car_man
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- #10 of 136
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Re: Armada lease [Car_man]
by achadha1
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Feb 26, 2006 (10:17 pm)
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Replying to: Car_man (Feb 21, 2006 4:49 am)
i am new to the lease calculator what would the payment be on a Armada that costs 40k for a 39 month lease at 15,000 miles a year
Thanks
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- #11 of 136
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Re: Armada lease [achadha1]
by Car_man HOST
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Feb 27, 2006 (3:13 am)
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Replying to: achadha1 (Feb 26, 2006 10:17 pm)
Hi achadha1. When you say that the Armada that you are interested in costs $40,000, do you mean that's its MSRP or selling price? Either way, I need to know both of these numbers to calculate a lease payment on this truck for you. I'd be happy to estimate what your lease payment should be on this truck if you provide me with this pricing information, as well as a detailed description of the Armada that you want. The description is necessary because its lease program varies by trim level.
Car_man
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