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Nissan Murano, Car Leasing, SUV
#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.
Feb 21, 2010 (12:37 pm)
Higher trim levels almost always have lower percentage residuals.. This holds true for almost every make and model..
Getting a good lease deal is highly dependent on the incentives offered by the captive financial companies of the car manufacturer. Whether it's unrealistically high residuals, or below-market money factors, or straight out manufacturer-to-dealer cash, that is what helps you get a low payment. If the leasing institution is offering a good program, then how tough a bargain you drive with the dealer will decide if you get merely a good lease payment, or a screaming bargain.
The lease deals on '07 Muranos were very good... on the new models, not so much... Good lease deals, in general, are few and far between, these days. Something about a credit crisis... maybe, you've read about it?
Sometimes, you have to be willing to look at competitive models, if you want to keep getting low lease payments. (though, right now, I can't think of any low leases on crossover SUVs).
#1315 of 1618 Re: Residuals [kyfdx]
Feb 26, 2010 (1:18 pm)
I do not recall what the money factor was on my 07 Murano SL AWD but again, the MSRP on the 2010 is about $700 more on the MSRP before you negotiate. If the dealers are willing to give you a decent Gross Cap cost then that is the starting point because the residual % now is better than it was in 07. So if the MF is a little higher than it was in 07, essentially you should be paying close to what you are paying now. It really comes down to how much the Gross cap cost is because that is the key number in the lease formula. The cap cost reduction will be your "down payment" and that is deducted from the Gross cap cost to give you the adjusted cap cost reduction which is then part of the formula and subtracts out the residual which is better today than it was in 07. If your a second time Nissan leasee, the incentives should be better. Now, every state and every dealer will have different inventory levels but here in the NY metro area there are plenty of dealers to go to. Its all math here. The deals right now are just "ok" but fast forward 5 months from now and the figures will be close to what Iam paying now, $360/month for 39 months 12k year. Sales tax was paid "upfront" meaning I paid that at closing before they delivered the car. I get invoiced every month by Nissan for $360. That is not a screaming deal, its a fair deal when you add back the numbers to what I would have paid for it if I purchased the car. Around $36k and change plus local sales tax. A very good deal but not "great".
#1316 of 1618 Lease Ending January 2011
Feb 26, 2010 (1:34 pm)
Hey everybody. I've been interested in possibly leasing a 2010 Nissan Murano. As you can see, the lease I have now (2007 Infiniti G35x), will be ending beginning of January. I was thinking if I do end up getting the Murano, I was going to see what they have leftover of the 2010's in November. I know there aren't much, if any changes to the 2011, but I'm sure they might want to get the 2010's off the lot. (I did that with my 07 Infiniti). Does anyone have any advice whether this might be a good idea and what are my chances of finding 2010's in November of 2010? Thanks!
#1317 of 1618 Re: Residuals [forman350]
Feb 26, 2010 (2:01 pm)
For a loaded 07 SL Murano AWD (touring package), if you pay $360 a month lease is pretty good deal. How much down did you pay? We paid $3K down, monthly payment is $379 + $26 tax = $405.
See my previous comments last week. Here in Utah the price is outrageous but also because SL and LE are rare. A dealer called us this week to offer LE Murano w/o Nav for $600/mo, $3K down. He said he could do an SL loaded for $450/mo.
If we need to go over $500/mo we might as well start looking at GLK, MDX or Touareg. Why paying more for the same car.
Just hoping the price will be better when our lease is due in July.
#1318 of 1618 new SL lease
Feb 26, 2010 (5:55 pm)
Just leased a 2010 Murano SL MSRP 36,300 for $429 a month including 6.25% for state taxes. Mileage 12,000 miles 39 months. Total up front $595 acq fee,$ 295 doc fee, title& license $125.00 and first month $429.00. i think i could have done a little better since this is the end of the month, but they had the color I wanted.
#1319 of 1618 Re: Residuals [forman350]
Feb 26, 2010 (7:25 pm)
forman350 .....Your understanding of lease is a little twisted. Your advice is generally good but you are making a Capital Cost Reduction so your numbers are off. You have bought down the selling price of the car up front. Adding your down payment into equal portions across the term will give us the TRUE monthly for your lease. The selling price used in the lease IS the Capitalized Cost. The Gross you are talking about is that number PLUS extra money you decided, or were talked into paying.
The residual is FIXED because it is based on the MSRP, so the lower the negotiated selling price, or Capitalized Cost, the better the lease. The Gross is the selling price PLUS all the bs they got you to pay, NOT the other way around. There is no way to know if your payment was a good deal, without knowing how much money you paid up front as a cap cost reduction.
You are always better off negotiating the lowest selling price possible, THEN tell them you want to lease the car using that number.
And to Healthyheart, you want the capitalized cost to be WAY under the MSRP, not equal or a little less. If that were the case you got no deal at all. I want the capitalized cost as close to the lowest selling price as possible preferably UNDER invoice
Mar 02, 2010 (5:51 pm)
Hi Carman! Please post the new March lease numbers for a 2010 Murano SL 2WD with 15,000 miles per year.
Also, you normally quote a 36 month lease, but the dealers only seem to offer 39 months. Are both 36 and 39 options always available? I assume the dealers go with 39 because it's better for their bottom line.