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Nissan Maxima Lease Questions

596 messages,  Last post on Nov 24, 2009 at 10:44 AM

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What is this discussion about? Nissan Maxima, Car Leasing, Sedan

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#316 of 596 Nissan SV lease deal by fa6664 Jan 20, 2009 (7:40 am)
I wanted to run this number by the group to see what others are getting on similar vehicles. In the Indy area, Maxima SV with bluetooth only, 39 months, 15k/year, $0 down except first payment, at $469 month, which includes 6% sales tax.   Anyone else receive similar numbers? I've been working over the phone with the dealership that I have typically leased with in the past. So this is their first offer, but I'm going to stop by and go over the numbers in detail with them.   Just haven't seen much on this board on other lease offers in a while.
#317 of 596 by lexi72 Jan 20, 2009 (3:26 pm)
need advice. been shopping for 09 maxima sv w/sport package. best offer so far is $486 down , $486 per mo. / 39 mos. Is this the best I can do, or should I shop around more than just 2 dealers. Replies to this message: Car_man (Jan 22, 2009 3:35 am) lexi72 (Jan 22, 2009 6:45 am) Car_man (Feb 12, 2009 2:55 am)
#318 of 596 09 Maxima SV Sport 01/20/09 by njshorewill Jan 20, 2009 (7:49 pm)
I negotiated a "purchase price" of $33,260 for a Maxima SV w. Sport PKG, Mats & Splash guards. MSRP $35,335. Price gotten from Consumers report was $32,170 after $750 Dealer Incentive. Holdback amount is $602.00.   Lease terms $425/mo, 39 mos, 15K miles. $4,400 down, including 1st mo, payment. Dealer is also paying the final month on plus damage charges (Bullsh*t) on my current lease ($550).   Residuals are 55% and .00226 Money Factor.   The numbers sit OK with me on the deal, after the $550, their profit is about $145. Reviewing paperwork, numbers don't match to negotiations. Going to Void deal until I get this straightened out.
#319 of 596 09 Maxima SV Sport 01/20/09 by njshorewill Jan 20, 2009 (8:32 pm)
Oh yeah, I also got Free Scheduled Maintenance for the life of the lease.
#320 of 596 Short Credit History Problem - Trick or Fact? by cmanoli Jan 21, 2009 (7:00 pm)
*** I'd really appreciate a response to this since I'm supposed to go in and make a deal with the salespeople. ***   I live in LA. I went in today asking for a Nissan Maxima 3.5SV with Sport and Technology Package to lease. They checked my credit score and it was 648. Then they said I don't have enough credit history (basically about 2 years) and that it's a problem. First they said a lease is out of the question. Then the whole "let me get the manager" trick happened and they said a lease would be possible if I put a down payment. Then they asked how much I'd be willing to put down and I first refused to answer then eventually I said a maximum of 4K. Then they proceeded to say they'll call me tomorrow with an answer if a lease is possible. I asked if they even have the kind of car I want in the colors I want in the inventory and they checked for 2 seconds on the phone with someone and said yes, but they didn't offer to show me the car or anything. So I left and tomorrow I have an appointment with a different dealership.   Now, is this credit history issue a trick or is it legitimate? I've had that problem with renting an apartment where they required a down-payment but on rent, my down-payment is actual months of rent.   if I MUST put down a down-payment what's the highest amount I should go for? And also, if the car online goes for 38,105, what's the lowest amount I could negotiate for, in your opinion?   It's my first time leasing a car so I don't want to be swindled. Thanks in advance for any speedy answers to this! Replies to this message: lexi72 (Jan 21, 2009 7:39 pm)
#321 of 596 Re: Short Credit History Problem - Trick or Fact? [cmanoli] by lexi72 Jan 21, 2009 (7:39 pm)
Replying to: cmanoli (Jan 21, 2009 7:00 pm) I may not be the most informed person to answer your question, but I'm in michigan and am also after a maxima sv sport. I was at dealer yesterday, he ran my credit and said it was 695. I asked what group that put me in, and he said tier 1-0. I asked if there was better and he said I just squeaked into the top tier. He then said that a year ago you could have a 550 score and he would have no problem putting you in any lease. He then said since credit has tightened, people in the mid 500s are quite a battle to get them a lease. My point is, with all this said, I fully believe with you in mid 600s, you should have no problem getting lease for the maxima you described. You won't make top tier, but at worst you would be tier 3 and more likely tier 2. Which summed up probably means you will pay about $20 - $30 more per month for your lease as opposed to the top tier. So don't let those guys get over on you. If it helps you at all, my maxima stickers for $36000 and I have them at $486 down, and $486 per month, 39 mos, 12,000 miles. Nothing else do at signing, out the door. And I'm not even sure that is the best I can do. Theres nothing more in world I hate, then to make a deal for a car, sign the papers, and as your walking out the door with keys, catching a glimpse of the salesman and/or manager high-fiveing each other. Makes me feel like I got bent over. So usually I will surf every forum and web page I cand find to arm myself with ammo, so when I go in there I feel somewhat confident that they are not taking their family and friends to aruba for a week on my dime!
#322 of 596 Short Credit History Problem - Trick or Fact? by njshorewill Jan 21, 2009 (9:18 pm)
Invoice for the car is $34,739, then there's $750 dealer cash. Holdback is $600. Are Maximas selling out west? There are very few on the road around here. As a first time customer, I'd doubt the Dealer would give you their holdback. I'd say start at invoice offering $34,000, see what they say, if no, offer $34,250. I wouldn't go any higher than $500 over - you're only benefiting $250 of the $750 cash from Nissan.   You have to remember credit priced on risk. The less credit (and history) you have, the higher the risk, the less a finance company is willing to lend without making you PAY for their taking a risk.   My credit was in the crapper when I got my last lease, and then I went to a chain highway dealer who really put me through the ringer. The only reason I got approved (2 weeks later, after making me take the car & leave my trade-in , virtually as hostage), was that I was a prior Nissan customer. Had positive history on prior leases, only one was with Nissan-Inifniti (it was for an I-35 I had turned in early), plus I owned my home & had a perfect history with my monthly mtge payments.   In the past, a FICO of 650 would have easily opened doors for you, not today. Amex lowered my credit limit because I was at 640 or so & citing delinquencies. I pulled my own report and there were no delinquencies (which I knew), only negatives was that Infiniti was still showing the lease I paid off in 2003 as open, and an open balance of $100 with Lowes!. I had to get that corrected myself, and my score went to 750.   Remember that very few car companies are leasing because they're getting killed on both defaults and residual values. My current lease is with Nissan, so I was prequalified for $580/mo tier one, yet they still pulled credit! You have no history with Nissan, so they may NOT be willing to lease....if you notice their ads say "Tier 1," Others, Like Honda, are offering leases only to "well-qualified." In your case, you may have to pay higher money factor (again, cost of the risk), etc.   You also need to realize that taxes, fees, etc, will be come out of your down payment, so even tho' you may say $4K, you might only wind up putting $2500 as your cap cost. Your payment might be in the high $600's. Can you afford that? Again risk.....   Finally as far as inventory, go to Nissanusa.com, follow the steps to build your car and then you put in your zip code and you can check inventory of local dealers, so the fact that your dealer is being uncooperative is BS, you can find that out yourself online. This dealer doesn't want your business. Go somewhere else.   Just remember to not get caught up with emotion over the car, don't react positively or negatively, just take in what they say, think about what you're gonna say before you respond.
#323 of 596 Re: [lexi72] by Car_man HOST Jan 22, 2009 (3:35 am)
Replying to: lexi72 (Jan 20, 2009 3:26 pm) Hi lexi72. the best way to evaluate this deal is to take a look at this car's selling price in relation to its MSRP or its dealer invoice price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what these numbers are, it is difficult to tell how much of a dealer discount you are being given. Let us know what these numbers are and I am sure that either myself or another knowledgeable community member will gladly tell you what they think.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: lexi72 (Jan 22, 2009 6:45 am) Car_man (Feb 12, 2009 2:55 am)
#324 of 596 Re: [Car_man] by lexi72 Jan 22, 2009 (6:45 am)
Replying to: Car_man (Jan 22, 2009 3:35 am) Appreciate your response car man. As I noted in the reply above, I am not the most informed buyer out there, but I'm trying to be. The msrp is $35830, the invoice is $32,230. He claims he is giving me car at invoice just to make the sale. This would be the first car I have ever leased, and I am starting to feel pretty naive about the whole situation. In the past when I bought, it was all about dealer invoice and how close to, or how far under I could get them. But when I went into this lease deal all I felt mattered was how much do I have to put down at closing, what are my monthly payments and terms. I guess what I am saying is that as long as the options on the car are apple for apple, as say another guy in florida, I felt like I don't even care about invoice price, as long as my monthly payments were on par with his. This car would be for my wife and in tweleve years of marriage she has never put more than 10,000 miles a year on her vehicles. So in my mind I don't care if the buyout is $100,000, because I have no plans on going over mileage or buying vehicle at end of lease. I just want to try and get the best monthly payment possible with as little down as possible (which I'm sure is the objective of every car buyer). But anyway if the above numbers help you figure out if the offer sounds good,average, or bad, I would really appreciate advice. Replies to this message: Car_man (Feb 12, 2009 2:55 am)

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