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Nissan Armada, Car Leasing, SUV
#87 of 219 Re: Armada Q&A [philly70]
Jun 26, 2007 (1:13 am)
Hi philly70. Through July 2nd, Nissan Motor Acceptance Corp.'s buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Armada LE 4WD with 15,000 miles per year are .00130 and 49%, respectively. The numbers for an otherwise identical 39 month lease are .00140 and 48%. The 2008 Armada's residual values are higher, but its money factors are not as low. I haven't played with the numbers for both, but I suspect that given the additional dealer discount that you are likely to get on it an '07 model is probably still less expensive to lease than an '08.
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#88 of 219 Re: Lease Trade in [footwood]
Jun 26, 2007 (1:15 am)
Hi footwood. It sounds as though you took advantage of an early lease termination program when you leased your last vehicle. I have not seen any early lease termination offers from Nissan lately, but it wouldn't hurt to check with a couple of dealers to check if one is out there. If Nissan is not running a special program that will let you out of the last several months of your current lease for free, you will be much better off waiting until the scheduled end of your current lease to get something new.
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#89 of 219 Re: 2008 Armada LE Lease [wardell]
Jun 26, 2007 (1:17 am)
Here you go, wardell. According to the latest information that I have seen, Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 36 month lease of a 2008 Nissan Armada LE 4WD with 15,000 miles per year are .00230 and 53%, respectively. This truck's 12,000 mile per year residual value is 1% higher.
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#90 of 219 Lease Question
Oct 14, 2007 (6:15 pm)
I have an opportunity to lease a 2007 Armada LE. The Vehicles MSRP is $48,195.00 and the selling price is $38,995.00 (I assume I can do a little better on price since this is advertised as an internet special). I would like a 36 or 39 month lease with no money down and taxes rolled-in are Illinois 6.75%. Also, the mileage would be 12,000 or 15,000/year. Can you please let me know what I can expect on payments, and If you believe this is a great deal?
#91 of 219 Re: Lease Question [avguru]
Oct 18, 2007 (1:32 am)
Hi Matt. The $9,200 discount that you saw advertised on the 2007 Armada that you are interested in is a very good deal. This truck has a spread of around $4,000 between its MSRP and its dealer invoice price plus Nissan is providing $4,500 dealer cash on it right now. This adds up to a total of $8,500 or so, putting the $9,200 discount at right around or slightly below dealer invoice.
The reason that you are able to take advantage of this huge cash incentive on the Armada that you want to lease is that Nissan is no longer providing lease support on this mode. As a result, if you were to lease one through its captive finance company, NMAC, you would have to use its standard lease program. I would not be surprised if you were able to do better than NMAC's standard program by going through an independent bank.
Let's calculate a couple of lease payments for you using NMAC's program and see what we come up with. According to my calculations, the 36 month, 15,000 mile per year, zero down, pre-tax monthly payment for an '07 Armada LE AWD that has an MSRP of $48,195 and a selling price of $38,995 would currently be around $660. With only 12,000 miles per year, this payment would drop to $648. The 39 month, 15k payment would be $634. Lastly, the 39 month, 12k payment would be $623.
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#92 of 219 08 Armada Lease Question
Oct 18, 2007 (7:20 pm)
I'm currently attempting to lease a loaded 08 Armada LE. I've got 3 months left on my current lease on a FX45 and the Infiniti dealer has called offering to terminate the lease if we come in now to get into a new vehicle. We like the QX56, but have determined that we can get a loaded LE that is basically the same as a QX minus a few cosmetic features for about $15K less.
One of the Nissan dealers here in Austin, TX has offered to take us out of the last 3 payments on our lease and give $7500 dollars off the MSRP of $47,975 on the Armada. He is discounting it $3500 and then working it thru an independent bank...US Bank I believe....to be able to also use the current $4000 factory rebate. Nissan Motor Credit will not allow them to use the rebate on a lease...purchase only.
The best 36 month/15K deal he has offered is $755 per month and that is $0 down and TT&L rolled into the lease. I'm having a hard time swallowing this as my current 36/15K lease on the FX that I got three years ago has a payment of $668 per month. The Adjusted Cap Cost on that deal was $51K with a residual of 56%. The Adjusted Cap Cost on the current Armada deal is $43K....a full $8K less than the FX when I did that deal.
He has said that the money factor he has gotten from Nissan-Infiniti Finance is .00170 with a residual of 51% and the US Bank money factor is .00280 with a 48% residual, but they allow the rebate.
Is he shooting me the best deal possible? I just can't imagine that I would have to pay $100 more per month when I'm basically stepping down on the cost of the vehicle.
#93 of 219 Re: 08 Armada Lease Question [kipc]
Oct 19, 2007 (1:18 am)
Hi Kip. If its lease program is not as attractive, it is very possible for a less expensive vehicle to have a higher monthly payment than a more expensive one. Let's work up a lease payment on this truck using Nissan Motor Acceptance Corp.'s current lease program to see if it really would be less expensive to take advantage of the customer cash and lease it through an independent bank. According to my calculations, if you were to lease a 2008 Nissan Armada LE 2WD that has an MSRP of $47,975 and a selling price of $44,475 through NMAC right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $647. As you can see, the $755 per month that you were quoted for a lease of this truck through an independent bank is not a very good deal. I would go through NMAC if I was in the market for an '08 Armada right now.
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#94 of 219 Re: 08 Armada Lease Question [Car_man]
Oct 19, 2007 (7:27 am)
Can you break down your calculation for me on this so that I can take it to the dealer? What residual value and money factors are you using? Is this the standard offering thru NMAC right now? It seems strange since the selling price he is working with is $43K with all TT&L rolled in and $0 down. The dealer said that the independent bank was allowing the rebate thereby lowering the selling price. The independent bank had a lower residual and higher money factor than NILT.
Secondly, do you think it is a better idea to wait until the current lease on our Inifiniti is up in January? Do you believe that in January we will be able to get a better deal on the Armada?
#95 of 219 Can I get out of my lease halfway through it?
Oct 25, 2007 (2:42 pm)
I have a 2006 Nissan Armada LE, and I pay $ 643.00 per month, which includes Full Coverage Warranty.
It has 21,000 miles, and is in great shape.
I am thinking of trading it in and seeing if my dealer, or another Manufacturer, will be willing to pay off the lease balance and get me into a new vehicle without penalties.
Am I crazy or has anyone done this 19 months into a 36 month lease before?Thanks
#96 of 219 08 Armada Lease
Nov 01, 2007 (6:05 am)
In case anybody cares, I wanted to let you know the deal I was able to work out this past week for an 08 Armada. I went in armed with data from the Edmunds site and after they realized that I was going to be one of "those guys", they laid down. I bypassed the sales guy who was one week into the job and dealt straight with the new car sales manager.
I got a loaded LE with every option except the DVD Entertainment Package and Moonroof. The reason we didn't go with the DVD package is because I had them add in aftermarket DVD headrest units in the driver and passengers seats. In addition, I also had them include $1400 of after market custom 20" rims to replace the factory ones.
My monthly payment on a 36 month/15K lease is $692 with $0 down at closing and only 1st months payment due. In order to take advantage of the $4000 rebate that was being offered in Oct., they didn't do the lease deal thru Nissan or Infiniti finance, but thru an outside independent bank. This rebate was used to reduce the cap cost on the lease. In addition, they paid the last two lease payments totaling $1,350 on the Inifiniti FX45 that I was driving and turned that car back to Inifiniti.
I feel pretty good about the deal, but probably could have done a little better if I had kept pressing.