Last post on Nov 16, 2013 at 7:50 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Nissan Murano, Car Leasing, SUV
#1348 of 1618 End of lease 2007 Murano
Mar 27, 2010 (11:06 pm)
I have a 2007 SL Murano (touring package) that will be due for return in July. There are still 3 payments left (39 mo lease).
Current payoff $20,167
Amount due in July $19,084
What's the best path to take:
1. Do I return the car in July to the dealer? Can I return it now without any penalties/return fee?
2. Do I sell the car third party? If so, how do I deal with sales tax, who pays?
3. Can I have someone take over the lease? If so, how?
I'm not planning to get another Nissan.
Thanks for your advice.
#1349 of 1618 Re: End of lease 2007 Murano [johnzee]
Mar 28, 2010 (6:24 am)
Check to see what the tradein value of your murano is. If it is higher than what you will owe with one payment then trade it in to any dealer and apply the equity [minus any payments] toward the new car. There may or may not be any extra. If there isn't just drive it to the end and walk away. Some dealers will offer to pay off your lease when you buy but they are just including the payoff in your deal.
#1350 of 1618 Re: MF and RV [clueless_girl]
Mar 28, 2010 (6:13 pm)
Just and FYI - New York State require lenders of leased cars to include GAP insurance within the cost of the lease itself. Enjoy your new car.
#1351 of 1618 Re: End of lease 2007 Murano [jayrider]
Mar 31, 2010 (6:43 pm)
I'm in the same situation as this poster... 2007 murano, 29K miles, exc condition. I have 3 lease payments of $413 left. I've been to the dealer to see my options - doen't seem like there are any incentives to taking out another lease. My residual value is $18790 - I put down $2999. I'm really thinking of buying the car -- because I really like it, it's in great shape. My other thought was to lease a vw tiguan - they had a deal going on.
From this site, it looks like the residual is less than what the dealer would sell it for. What else do I look at to ensure that I"m getting a decent deal if I buy the car? I didn't understand the last paragraph of the previous post.
#1352 of 1618 Re: End of lease 2007 Murano [sgorden]
Apr 01, 2010 (5:50 am)
If you buy it, be careful not to pay any fees. I bought mine (2006 w/ 24k used out of 39k ). My payoff was 19k, which seemed like a good price to pay for the car, and I hadn't used all the miles I paid for in my lease. I felt that returning it with low miles would be advantage to Nissan.
I contacted nissan finance. I believe they had already sent me some info. The number is in your payment book. They gave me a payoff # (my contract buyout plus tax) sent me simple paperwork (mileage statement). I sent a check and got the title. NO FEES. I think some dealerships charge turn-in fees. Then they try to sell you another lease while you're there.
My home equity line of credit was cheapest most flexible way to pay it off. We pay at least what the lease payment was, often more, so it will be paid off sooner. I look at it as buying in reverse, with the down payment at the end. At least I'll have equity left in 3 years, and a car to sell or drive for a while w/ no payments. Can't lease 4ever.....well, some can, not me.
I used nissanwarrantystore.com and got a good deal (several hundred less than dealer) on the exact same nissan gold preferred warranty as when you buy new. You can still buy it until the end of your factory warranty. They are Nissan of Santa Rosa, a dealer in CA who sell warranties online (or by phone). My dealer couldn't/wouldn't match it. Tried to sell me the used care version. I called other dealers and confirmed I was eligible for the new car version, then bought it online.
Of course, one month later they extended the transmission warranty, removing one reason I had bought the extended! I still feel better having it. Car will 4 in July. No problems yet! Good luck!
#1353 of 1618 Re: End of lease 2007 Murano [sgorden]
Apr 01, 2010 (6:02 am)
i'm in almost the identical situation.. 07 murano, 30k miles, lease ends in june.. buyout is about 18800.
like a lot of people in the situation, i also feel like buying it is the best option, esp. since i'm under my mileage by quite a bit.. and the value of the car is higher than the buyout at this point
one thing others have suggested to me is to take your murano to a nearby carmax dealership and have them appraise it.. you don't have to commit to selling it to them, but at least you have another sense of the worth or your car
i'm hoping to do that in the coming weeks when i have a free weekend.. will post on that experience!
#1354 of 1618 Re: End of lease 2007 Murano [dohmai]
Apr 01, 2010 (7:21 am)
I brought my car to carmax two days ago and they only offered $18K for a loaded SL Murano w/ touring pkg. As I mentioned in my prior post, the current payoff is $20K. Trade-in value is even more than what my current payoff is. Carmax is a rip-off. Cars like mine are selling $24K or more.
"I contacted nissan finance. I believe they had already sent me some info. The number is in your payment book. They gave me a payoff # (my contract buyout plus tax) sent me simple paperwork (mileage statement). I sent a check and got the title. NO FEES. I think some dealerships charge turn-in fees. Then they try to sell you another lease while you're there. "
I wonder how that works.
I talked to Nissan Finance about sending them a check for the payoff # + tax, but they said they couldn't do that, they still wanted me to go to the dealer. I called a Nissan Dealer and they said the same thing. Plus in addition to that, dealer will charge "dealer fees". Another rip-off.
My plan was to sell this car private party and in order to do that, I need to buy the car first. But if there's too much hassle, I may need to just return the end of the lease term.
Read this article: http://www.edmunds.com/advice/strategies/articles/48244/article.html
Does anyone have experience on dealing with this before? Prior my Murano, I leased a car with US Bank as the lessor. We never need to go to the dealer to purchase the car. Why is it different with Nissan Finance?
#1355 of 1618 Re: End of lease 2007 Murano [johnzee]
Apr 02, 2010 (9:32 am)
I did not go to the dealer, never even called them. I handled mine right in the last month though, are you calling to get out early? It shouldn't matter though...My loan was with NMAC, my payments went to Pittsburgh. I got monthly statements in the mail and I don't know what number I called, but on my bill it has 1-800-777-7018 for customer relations. When I sent the payment it went to Nissan-Infiniti Services Co , PO Box 660360, Dallas, TX 75266-0360.
Apparently they were the official "owners" of the vehicle, That is the address my title and bill of sale came from.
I leased July 2006 in NJ and it was up in Oct '09. Maybe something is different with your lease? Maybe it is too soon. Maybe they are trying now to make people go to dealerships so they buy more Nissan?? But I'm sure they are happy to sell the off lease ones too....
Have you started to get letters telling you to check your car for damages, schedule inspection etc? I got those starting about 3 months before the end. One of them had a number to call if you wanted to buy it out. If you didn't get the letters yet maybe it is too early.
Apr 08, 2010 (10:47 am)
Was wondering if anyone knew the MF and Residual for a SL AWD for 39 months and 15,000 miles per year. Also does anyone know of any additional rebates besides the $500 advertised on Nissan's site. Thank you!
#1357 of 1618 lease on 2010 Nissan Murano SL - is this a good deal?
Apr 10, 2010 (7:51 pm)
You seem to know the market for lease deals. I would appreciate it if you can review my specs and let me know if this is a good deal or not. Thanks in advance. Here are the specs:
- Murano SL 2WD with Premium Package and Leather Package plus after market bluetooth kit ($395)
- MSRP $33,310
- Dealer incentive of $1,250
- 39 months, 12K/yr
- $3K down
- monthly payment of $455 incl. taxes
The lease factor details:
- MF: .0221
- Residual: 53%
Thanks again for any perspective you can provide here.