Last post on Nov 16, 2013 at 7:50 AM
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Nissan Murano, Car Leasing, SUV
#1304 of 1618 Re: Loaded SL...please take a look [nygiants1]
Feb 15, 2010 (4:42 am)
Actually, your figures are a bit off. My MSRP on the 2007 Murano SL AWD was $36,820. The 2010 Murano SL AWD that Iam looking at has an MSRP of $37,200. With that said, if I put down same amount (first months payment, upfront tax, tire fee, Acq/Doc fees plus tax) and the residual is 54% which is the same as it was in 2007, my payments should be around $360-$373 or in that area. The trick to paying this is to really have a handle on the leasing formula. If you go back to your Lease agreement, take a look at the section where it says how the dealer figures your monthly payment. There are about 8 sections including the Total Capitalized Cost and cap cost reduction which is the amount you are putting down before you get to the tax and the acq fee. The acquistion fee I believe it still $595 plus tax and the Doc fee is $75. The registration fees will depend on what State you are in. I am on Long Island, NY. The time of the year you lease will have an impact on what deals are going on. I happen to lease in the spring and the economy was much better then. If the MSRP is $37,200 on the car I am interested in, and you are credited with Nissan loyalty by leasing a second time, there is def more wiggle room in the negotiation stage. What the dealers have to understand is this, getting new business is tough enough, retaining an existing customer is even tougher if they are not willing to give you a similar deal when the figures are only a few hundered dollars apart, not thousands at least in my case. Assuming your credit is excellent to very good, you can get the Murano for under $400 a month. But, you do have to put down everything I said expec in NY, You cannot put 0 dollars for the Cap cost reduction (your down payment). You have to put down at lease 700-800 on the cap cost reduction so you can bring your total Cap Cost as low as possible. The less you put down, of course your payments will be higher.
#1305 of 1618 Re: Feb #s [Car_man]
Feb 15, 2010 (7:25 am)
Thanks for the info Car_man
Feb 16, 2010 (2:29 am)
You're very welcome, buffalo78.
Prices Paid: Buying & Leasing Experiences Forum
#1307 of 1618 Re: Feb #s [Car_man]
Feb 16, 2010 (10:45 am)
Do you have current lease numbers for a 2010 Murano LE AWD, 36 months, 10K or 12K/year?
#1308 of 1618 Re: End of Lease Question [whitall]
Feb 16, 2010 (12:49 pm)
Awesome thanks! This is very useful and I'm glad to hear it's so simple. Also your logic of not giving them back a car with 25k when you paid for 39k miles makes a lot of sense and I'm in the exact same situation (I have just under 28k)...
I think I'll see what a local Carmax offers me for it and go from there!
Maybe in spring I can get a similarly equipped Murano (new) for a similar lease as mine.. in which case I might consider it?
#1309 of 1618 Re: End of Lease Question [dohmai]
Feb 17, 2010 (12:26 pm)
I'm sure you can get a new one for a good deal again. Though Nissan may be gettig a boost from the Toyota fiasco going on. Let me know what Carmax says...I might be sorry when I hear it to see what I lost out on, but a new lease wasn't in our future since we have to also replace our older Tahoe ("selling" it to our teenage son) and the replacement will be a nicer car. Can't have 2 of those $400 payments going on at once! Trying to talk him down from Lexus to Maxima...But we're leery of having 3 Nissans ( '08 Altima for son-he bought, '06 Murano for me)
At least you will know all your options. What if you buy out your lease when it's up and then next December get into a new lease. I wonder what Carmax would offer at that point? I say that because I read the best time of the year to get a deal is the last 2 weeks of December. I usually buy July/Aug and get leftovers.
Have fun! Try not to overthink yourself silly!
#1310 of 1618 Does your Lesed Morano seem to be gainning to miles too quiclky?
Feb 20, 2010 (12:19 pm)
He is the short story. I have previously leased 2 Toyota Highlanders before my Murano lease. In both of those leases, I returned the cars with "Under" mileage on them, one time as much as 3k miles under the contract. I have had my Murano since Nov. 2008 and I already have 17,000 miles on it. I haven't changes my driving habits or gone on any high mileage trips and I don't even drive this car as a daily commuter. The car seems to be consistent with clocking a mile as I drive and compare to the highway mile markers but I was wondering if the computer is just adding a 100 here or there, after all its probably a computer in there and not a fly wheel.
#1311 of 1618 LE vs. SL Murano residual value
Feb 20, 2010 (4:32 pm)
Currently my husb and I are leasing 2007 Nissan Murano AWD loaded SL (sunroof, leather) with no Nav that will be due Jul 10 this year. The monthly pay is $405 included tax ($379 base monthly pay). We put $3K down. The residual value is $19,064. Price agreed was $34,618. Not sure what the MSRP was at that time, it was around $37K++. 39 month lease with 12K miles per year.
We still have 4.5 months to go before the lease is due, but we've been searching the market for another Murano and other SUVs. The 2010 LE Murano will be an upgrade, and plus with customer loyalty program it will be the best way to go vs leasing another car. But I was surprised to learn that the residual value for an LE is much lower than SL. A dealer showed me the list. 0.00221 money factor. But residual for LE is only 49% vs. SL 53% vs. S 56%. Does it sound right to you guys? Shouldn't the more well equipped car has higher residual value?
The dealer gave us an estimate of $600/mo with no money down. That's just too high. For that much we could get MDX or GLK.
Also, does anyone know if Nissan accepts early return if the owner lease another Nissan car? Or should we wait until July then lease another one, hoping the price will get better?
We're looking for an AWD LE Murano with no nav/DVD, MSRP around $39K. We live in Salt Lake City. Was wondering if we should stay with SL vs. LE, hoping to pay around $400-$450 for a new one.
Thanks for your input.
#1312 of 1618 Re: LE vs. SL Murano residual value [slc_nissan]
Feb 21, 2010 (4:21 am)
Please see my comments from about a week ago. I have a 2007 SL AWD as well with the touring package. My MSRP was $36,820 and the Gross Cap Cost was $32k plus change. I am paying $360 for 39 months, 12k a year. I put down $3200 which included first months payment, upfront sales tax, acq fee plus tax, cap cost reduction (down payment) plus tax, tire fee and registration fees. My lease ends around same as you. I am getting inquiries already from Nisan to lease again. I would WAIT until your lease expires. The reason is that the 2011 models will be coming out around late sep to early oct and in the summer they have to start unloading their 2010 models to make room. The deals get better as the summer progresses. If you try and lease a 2010 Murnano now, you prob will not get a great deal. The way to get the lease under $400 a month is to make sure you get the Gross Cap Cost (agreed amount for the car) as close or under the dealers MSRP. Like you, I would be subject to the loyalty program by leasing another Murano so there is def some wiggle room there. Dont let the dealers tell you that a certain color is not available either. They swap from other dealers every day and they can always order it for you if you shop in advance. Go to your local car show if they are having one or stop by a Nissan dealer to "check out" the Murano but dont sit down with anyone until you area about 45 days before your end date on the lease. The Money factor and residual change slightly each month. If I were you, I would lease a SL AWD again. The LE is not worth the extra few grand. And the residual is too low and the Money factor is not good enough. Most dealers have a healthy inventory on the SL's because its the most popular trim level so keep that in mind.
#1313 of 1618 Re: LE vs. SL Murano residual value [healthyheart]
Feb 21, 2010 (8:47 am)
Thanks for your detailed reply and it looks like you got a screaming deal on your Murano SL also. We do get alot of run-around, calls with car dealers especially at this time of the year and in this buyers market. If we lease another loaded SL, at this time it would be like paying $80+ for the same car. The only important features upgrades for us are auto lift gate, rear heated seats, we do not want/care about moon roof or NAV and where we are AWD is standard.
It does appear that S and SL trim levels have a better residual. If the money factor changes, preferrably down, couldn't an LE residual be brought up? For e.g. our '07, SL has a (relatively low) 51% residual but our money factor was/is 0.000375 (execeedingly low).
Every dealer we have visited has plenty of S but almost none of the SLs, LEs. We know of two in the area but they won't budge on the current offers. We have plenty of time and in reality if we come across another brand that gives us more car for about the same money we will go for it. I agree that the best time to lease a car is just before the end of the month and just prior to the new models arriving. Thanks for your feedback.