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Nissan Murano, Car Leasing, SUV
#1332 of 1598 Odd residual spread between S and LE?
Mar 15, 2010 (9:03 am)
Can somebody please confirm what looks like an odd residual spread between Murano S and LE in march?
According to north-east lease special ad on nissanusa website, as seen 03/15:
" 2010 Murano S AWD w/ Splash Guards & Mats model 23210 subject to availability to well qualified lessees through Nissan-Infiniti LT. $30,760 MSRP incl. destination charge. Net capitalized cost of $25,483 . Dealer contribution may affect actual price set by dealer. Monthly payments total $11,661.00 At lease end, purchase for $17,533.20 plus $150 purchase option fee (except KS & WI), plus tax, or pay excess wear and tear plus $0.15 per mile for mileage over 12000 miles per year. "
S' Residual = 57% for 12,000 mi: lease end purchase price * 100 / MSRP
From CAR_MANs posts:
SL - 54% for 15,000 mi (55% for 12,000?)
LE - 52% for 12,000 mi
Can residual be that much different between trims on same model or are my calculations for S' just wrong? I though this is the legitimate way to calculate residual...
Thanks in advance
#1333 of 1598 Re: Odd residual spread between S and LE? [clasys]
Mar 15, 2010 (11:11 am)
I saw the print out of the money factor and residual value from a Nissan dealer here in Salt Lake and I was completely blown away when I saw the residual value of an S is much higher than an LE (Feb rate). Logically, a more well equipped car should have a higher residual value, but maybe not for a Murano. The last number I got for an LE (Ken Garff Nissan, Salt Lake):
MSRP $39,165 (LE - no nav)
12K per yr
Lease = $ 505/mo plus tax
Dealer said selling price = invoice (never told me exact price). Still too expensive, in my opinion.
#1334 of 1598 Re: Odd residual spread between S and LE? [slc_nissan]
Mar 15, 2010 (12:23 pm)
Yes, it definitely is expensive for murano IMO, more like loaded RX350 payment. I am looking to replace my 2007 Murano SL AWD with Touring (37,5K), for which I'm paying $369/mo with 3K out of pocket; just got a letter from my local dealership about winter pull-ahead lease program, they claim to waive up to 6 payments. I was thinking about another SL with leather/premium/technology (36,2K MSRP), and I wouldn't even look at LE, but it appears now you can't get memory seats on SL, not even with Technology package. If you want memory seats you need to opt for LE. I find memory option very useful, but with numbers like that I might as well wait it out and lease something more appealing... Residual-, money factor- and option-wise. Sad though, NMAC will be loosing another customer and I do like Murano a lot.
#1335 of 1598 Re: Odd residual spread between S and LE? [slc_nissan]
Mar 15, 2010 (4:29 pm)
It is normal for the higher trim models to have a lower residual. This is because when a car ages, the difference in price between a loaded model and a base model is not as great as when the cars were new. For example many cars charge say 1500 for dvd system... On a 3 or 4 year old used car that same system is almost worthless. How much extra would you pay for an LE over an SL if looking at a 4 year old used Murano with 50000 miles on it?
#1336 of 1598 lease ending on 2007 awd SL
Mar 15, 2010 (5:25 pm)
My 39 month lease is coming to end. My murano has 28K miles on it - only drive it around town - mint condition. My lease payment is $421 a month. I put $3K down. the agreed upon value, tax acquisiton fee and maintenance contract totaled $36435. The option to purchase is 18783. Depreciation and amortized amounts 15525.
this is my first leased car and I'm already uncomfortable thinking about what to do? Is $18,783 a fair price? I really do like it alot. However, I also am considering leasing a less expensive car - like the maxima. I don't want to put any more money down.
Lastly - we experienced a really bad year (2 yrs ago) and our credit rating will be nowhere near what it was when I leased the car... how will that play into this? Any advice would be very appreciated. I've read these boards but am not understanding all the nuances of turning in a lease.
Mar 20, 2010 (12:44 pm)
I was looking to lease a 2010 AWD Murano SL/Nav for a long time. My current Murano lease finished in January, and I have extended the lease, ending up paying a higher monthly (due to tax increase). So my original payment was 389/m and for the extension I have been paying 424.
I went today to the Dealer and put a deposit on the following deal:
2010 AWD Murano SL / Nav, 12K/year, 39month lease.
Selling price: $34,979
No down payment, will have to pay taxes/first m/deposit/destination charge/- total of $2,200
Monthly payment: $440.
WHen I calculated the monthly with the above numbers it came to $465.53.
Please tell me if this is a good deal? I gave a $1,000 deposit, and will have to go on Tuesday to pick up the car. Just want to make sure that everything is in order...
#1338 of 1598 Re: MF and RV [bostondriver2]
by Car_man HOST
Mar 22, 2010 (3:43 am)
Hi bostondriver2. The money factor that you were quoted looks good. It's right in line with NMAC's buy rate for this model. The selling price that the dealer is giving you looks good as well. Any time that you can lease a vehicle for less than dealer invoice minus the available incentives you're doing a good job.
I am not familiar with the current market value for used Muranos, but you should be able to get a good idea of whether your vehicle's purchase option price is a good deal by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".
If your vehicle's purchase price is less than or similar to its current value on the open market then you may want to consider buying it. If not, walk away.
Prices Paid: Buying & Leasing Experiences Forum
Mar 22, 2010 (10:35 am)
Carman could you please comment on my post? I negotiated from $465 a month to $440, but I just realized that I will have to pay the sales taxes (NY) on top of it So I'm pretty sad. Do you think it makes sense arguing with the dealer about the sales taxes (making sure I pay ONLY for destination charge/preparation fee and keep the payment at $440) or swallow it and pay the the sales tax upfront? Please let me know, since they called just now - the car is ready for me to pick up.
#1340 of 1598 Re: MF and RV [clueless_girl]
Mar 22, 2010 (11:12 am)
I just spoke to the dealer. the total fees were $3151 (taxes, destination, prep fee, title, doc fee what is that?!) he agreed to discount $300 off that. Please let me know if this is a good deal, or I should break it immediately?
#1341 of 1598 Re: MF and RV [clueless_girl]
Mar 22, 2010 (12:11 pm)
They left the destination out of the price paid ? very clever --- that makes your deal $800 or so worse. Figure taxes at 2k add 800 -- there is a bank fee on top of that. Actually pretty decent -- if you need to grind off a few hundred more have at it but don't expect much more.