Last post on Aug 10, 2013 at 1:40 PM
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Nissan Armada, Car Leasing, SUV
#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.
Prices Paid: Buying & Leasing Experiences Forum
#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.
Prices Paid: Buying & Leasing Experiences Forum
#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.
#97 of 219 Nissan Armada 2008
Nov 10, 2007 (5:48 pm)
I received a deal on a loaded LE with every options except the DVD Entertainment Package for 39,816. I was wandering if you can help me with what my monthly payment would be on a 36 month/15K lease or 12K with $0 down at closing and maybe only 1st months payment due at signing. I was also wandering what financing would you suggest thru Nissan or Infiniti finance, or thru an outside independent bank. By the way, I am in Miami, Florida
#98 of 219 Re: Nissan Armada 2008 [stan26]
Nov 22, 2007 (5:14 pm)
Did you do the deal? That was a great price. I'm looking to get the same set up.
MSRP $50,610 incl detination charge, Your $39,816 was $10,794.00 off that price.
That's the best deal I've seen posted here. Like to hear if you bought or leased and the details.
Nov 22, 2007 (8:26 pm)
hell yeah, that deal is better than the one I just got. Fantastic ride though!
worth every penny.
#100 of 219 Early lease termination
Nov 26, 2007 (5:58 pm)
I have an 05 Pathfinder with 6 payments left. I'm under mileage and the truck in in perfect shape, I want to move into a loaded 08 Armada LE, any idea how early Nissan will let me terminate??