Last post on Dec 11, 2013 at 7:05 PM
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Nissan Maxima, Car Leasing, Sedan
#163 of 1380 Re: Kind soul to opine on this deal [rcaldrn]
Feb 13, 2007 (2:38 am)
Hi rcaldrn. The money factor that you were quoted for the 2007 Maxima SE that you are interested in is right in line with Nissan Motor Acceptance Corp.'s current buy rate for one with a waived security deposit. This means that the dealer you are working with is being very straightforward with you about this car's lease program.
Is the $27,790 price that you mentioned this car's MSRP or its selling price? I need to know both to give you a detailed analysis of this deal. Let me know and I'll tell you what I think.
One thing that I noticed about this deal is the $1,500 down payment that you are considering making. I always advise consumers against making down payments on leases. The main reason that I do so is that consumers who make large down payments on leased vehicles risk losing them if their car or truck is totaled in an accident or stolen and never recovered.
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#164 of 1380 Re: 07 Maxima SE lease in Central Florida [keithand]
Feb 13, 2007 (2:42 am)
Congratulations on your new car, keithand. Thanks for taking the time to share the details of your deal with everyone. It sounds like you got a great deal. Enjoy your new ride!
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#165 of 1380 07 Maxima SL Lease in Eastern PA
Feb 14, 2007 (7:09 am)
I have been speaking to several Nissan Dealers in my area in ref. to a lease and was offered the following:
- $150 over invoice
- .00141 money factor
- 61% residual
- 36 month term
Are these good numbers? I saw a money factor on this forum of .00087. My credit is very good. Is this a current rate?
How does the mileage (12k, 15k, etc.)affect the numbers?
Thanks in advance for your help
#166 of 1380 Quick Help! '07 Maxima SL - Current Money Factors & Residual Values Anyone?
Mar 02, 2007 (11:27 pm)
Planning on getting an '07 Maxima SL this weekend and looking for some advice from those that know more than me. MSRP is about $35K (fully loaded with Nav, Driver's Package, Spoiler, Sunroof, etc.). Negotiated for $29,500 after the $1,500 rebate + taxes and docs for a total out the door of $31,800. I think this is a good price. Already got financing externally at 6%. Was planning on putting down approx $7k and financing $25k. However, instead of having a monthly payment of close to $500 at that rate, thinking if leasing might be a better option to have lower monthly rates. Only prob is I drive a lot so would need 18k miles, which I know will drive the residual value down a lot. Don't really care if it's a 2 yr or 3 yr lease. If I leased, wouldn't want to put any money down (for the same reasons others have said here in terms of an accident and the like). So with that said, does anyone know what the current residual value / % would be on such a lease and what the current money factor would be? Does anyone know if the dealer has any say in either of these two factors - or is it only Nissan Motor that gives the dealer the #'s and the only thing the dealer influences is the selling price of the car. Want to make sure that I haven't negotioted a good deal on the price of the car and then lose out in them getting me on these other two factors which I wouldn't really know if they've given me fair figures or not.
Any help would be appreciated as I'm scheduled to go get the car tomorrow and am having some last minute considerations as to whether or not leasing would be cheaper for me.
Thanks so much in advance.
#167 of 1380 A Bit Confused and Need Advice ASAP
Mar 03, 2007 (7:12 am)
I am in the process of drawing up a lease on a 2007 Maxima SL. I am very good on figuring out the lease formula but what I really want to know is if the money factor rate is negotiable. It seems that the mf on an SE is MUCH lower than the SL. They seem to be pushing the SE that I do not want. I have leased now with the same dealer and NMAC for 6 yrs. I would really like to get a lower mf. The one they are giving me is .00230. The SE rate is .00140. I am in the grace period right now of my present lease and would appreciate your help asap. Also, is it advantageous to pay the tax up front. It seems that when I add the tax to the monthly payment it comes to $5. less than the figure they give me. I figured the complete car payment and then the tax on top of that. According to Edmunds, that's how it is done. Thank you for your help.
#168 of 1380 A Bit Confused---error was made
Mar 03, 2007 (1:07 pm)
In my previous inquiry, #167, I stated that the .00140 money factor was for the SE. It's not. The 2 yr. lease mf is .00140 and the 3 yr. is .00230. The SE mf was lower but I do not remember what I was told as I am not interested in an SE. I really want to lease for 3 yrs. but would want a lower mf. Is this set in stone by NMAC or do you think I could do better? Thanks again and sorry for the error. Would appreciate a response asap.
#169 of 1380 impulse leaser would like thoughts on this deal..
Mar 17, 2007 (8:28 pm)
I made an impulse lease purchase on an 07 maxima se msrp 33625.. I rolled 3000 neg equity into the deal and put down 2500. It is a 24 mo lease 15k miles per year and my payment is $500 (tax included). I do not recall the MF but the residual was 21000. I was told by the dealer that the sticker price was not negotiable. From what I have read here, this is not true. Did I get taken to the cleaners on this deal? Do I have any other options.. Any advice would be appreciated. Thank you for your help
#170 of 1380 Re: 07 Maxima SL Lease in Eastern PA [gslack]
Mar 18, 2007 (4:23 am)
Hi gslack. Nissan Motor Acceptance Corp.'s March buy rate lease money factor and residual value for a 36 month lease of a 2007 Maxima SL with 15,000 miles per year are .00245 and 53%, respectively. The 12,000 mile per year residual value would be 1% higher. I'm not sure where the lease program that you were quoted came from, but it looks much better than Nissan's current program for this car. $150 over invoice is a very good selling price.
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#171 of 1380 Re: A Bit Confused and Need Advice ASAP [arleneg]
Mar 18, 2007 (4:33 am)
Hi arleneg. The answer to your question about whether banks' lease money factors are negotiable is yes...and no. Let me explain. Dealers to not have the authority to lower banks' published residual values, but they are often allowed to make them up to add additional hidden profit to deals. This is why it is important to know exactly what the money factor should be for the vehicle that you are interested in leasing.
NMAC's current buy rate lease money factor for a 36 month lease of a 2007 Maxima SL is .00245. I don't think that you are going to be able to get a lower money factor than that on your car, regardless of whether you are a returning customer or not.NMAC's March money factor for a 36 month lease of the '07 Maxima SE is .00225. These cars' 24 month lease programs have lower money factors.
I personally always have sales tax added into my vehicle's monthly payment rather than paying it at lease signing. The main reason why I do so is it would be unbelievably annoying to have paid all of the sales tax for my leased vehicle and then have it end up getting totaled or stolen and be out that money.
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#172 of 1380 Re: impulse leaser would like thoughts on this deal.. [jc30092]
Mar 18, 2007 (4:36 am)
Hello jc30092. What you were told is not correct. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. I suspect that you should have been able to negotiate a discount of at least $1,000, and probably more than that on your car's selling price if you are in an area that has a decent level of competition and had shopped around. Unfortunately, now that you have signed your lease contract and have physically driven off in your car there really isn't anything that you can do to get out of your lease.
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