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Nissan Armada, Car Leasing, SUV
#26 of 219 looking to lease a 2006 Nissan Armada LE
Jun 08, 2006 (10:31 am)
Hi, I am looking to lease a 2006 Nissan Armada LE with a list price of $48,945 and an invoice price of $44,280. I am assuming I would be a ble to get this vehicle at invoice. I have excellent credit (high 700's). I would like to put no money down. I am trying to get to a payment around $500. per month. What lease term should I target to get to this payment? If this isn't reasonable, what should I expect as a lease payment for this vehicle?
#27 of 219 Re: looking to lease a 2006 Nissan Armada LE [jb1hb1997]
Jun 10, 2006 (2:46 am)
Can anyone help me? Carman?
#28 of 219 Re: looking to lease a 2006 Nissan Armada LE [jb1hb1997]
Jun 14, 2006 (6:15 am)
I don't know about the lease, but you should be able to get the car for about $4K below the invoice (with $3K rebate).
Jun 14, 2006 (4:33 pm)
I recently (last week) leased a 2006 Murano SL equipped with Touring, Sirius and Navigation. Final selling price was $41k and monthly is $556 (before tax). Then...I found this website and, more specifically, this forum. Looks like I got a really bad deal. Did I???
I am looking to lease an Armada next however...not feeling so invigorated after this deal Please help.
#30 of 219 Re: raw deal [ccerv13]
Jun 16, 2006 (8:44 am)
Jun 21, 2006 (2:15 am)
Wow, sdc3, a 63 month lease . You definitely do not want to lease this truck for that long. That is a very long time to be committed to one vehicle. A lot can change over the course of five years. You could decide that you are sick of paying an arm and a leg for gas for such a big truck, you could just plain get sick of it, your daily commute could change causing you to go way over your mileage allowance, etc... 36 to 39 month leases are usually ideal, 48 months at the longest. If you are so upside down on your current vehicle that you cannot lease an Armada for a shorter term, it would be in your best interest to wait until you are less upside down to get a new vehicle. Besides, the fact that you are so upside down on your current vehicle is going to cause you to pay way more than you should for your Armada.
It looks as though this lease may be through an independent bank. I say this because the $2,500 customer cash that Nissan is currently providing on the '06 Armada is not compatible with Nissan Motor Acceptance Corp.'s special lease program. This dealer probably had to do this so that they could use the cash to cover part of your negative equity. I can tell you want NMAC's current lease program is like for this truck. Keep in mind though that the $2,500 customer cash is not compatible with this lease program. If you were to lease an '06 Nissan Armada SE Off Road 4WD 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 .00161 and 51%. Its 39 month numbers are .00163 and 50%. Its 42 month numbers are .00171 and 48%. Its 48 month numbers are .00181 and 41%. Lastly, its 60 month numbers are .00171 and 32%.
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#32 of 219 Re: Current Residual and Money Factor [milken]
Jun 21, 2006 (2:17 am)
Hi milken. This truck's lease program varies depending upon what trim level you get. In order to give you an accurate idea of what the program is like for the truck that you are interested in is like, I need a more detailed description of it. Just to give you a general idea of what this truck's program is like right now, if you were to lease a 2006 Nissan Armada LE 4WD 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 .00161 and 51%, respectively.
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#33 of 219 Re: looking to lease a 2006 Nissan Armada LE [jb1hb1997]
Jun 21, 2006 (2:22 am)
Hi jb1hb1997. This truck's lease program varies depending upon how long you lease it for and how many miles per year you need to be able to drive it. For now I will provide you with information on a common set of lease terms, 36 months with 15,000 miles per year. Let me know if you want something different. If you were to lease a 2006 Nissan Armada LE 4WD 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 .00161 and 51%, respectively. Using the prices that you mentioned in your post, an MSRP of $48,945 and a selling price of $44,280 (which I think may be a little optimistic) and the aforementioned lease program, I estimate that this truck's zero down, pre-tax monthly payment should be around $649. Unfortunately, as you can see, this is quite a bit higher than your target payment.
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Jun 21, 2006 (2:25 am)
Hello ccerv13. It is difficult for me to say what sort of deal you got on your Murano without knowing its full MSRP. This will show me how much of a discount you were given on it and will enable me to use Nissan's actual lease program to estimate what your monthly payment should have been. Let me know and I'll tell you what I think.
Don't get nervous about leasing your next vehicle. As long as you negotiate an attractive selling price and make sure that its lease payment is being calculated NMAC's buy rate money factor, you'll get a good deal.
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#35 of 219 Re: Current Residual and Money Factor [Car_man]
Jun 21, 2006 (6:35 pm)
Thanks for the update. I am looking to lease an LE 4x2 with the technology package (msrp $44,455). I know Nissan is giving a $3000 cash back for purchases so the incentive is not available unless I lease through another bank. Do you know if Nissan typically provides the best money factor and residual or is it typically pretty competitive?