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Nissan Quest, Car Leasing, Van
#25 of 68 Re: Nissan Quest: Lease Questions [saab510]
Apr 23, 2007 (2:13 am)
Hi saab510. You may be able to roll part of the negative equity that you have in your current ML500 into a new lease, but unfortunately probably not the entire $10,000. Banks place caps on the amount that they will finance on leased vehicles. I am not sure what cap Nissan Motor Acceptance Corp. places on leases, but let's say that it is 105% to 110% of vehicles' MSRPs. A base 2007 Nissan Quest S has a spread of around $2,000 between its full MSRP and its dealer invoice price, so even if you were able to lease one at invoice you would only be able to roll $2,XXX of negative equity into your lease. If you really want to lower your monthly payment, you should be looking to get the least expensive vehicle possible. Do you really need to get a van? Perhaps an inexpensive sedan, like a Honda Accord or a Toyota Camry would be adequate. If you absolutely need a van, you may be able to get a better deal on a Dodge Grand Caravan.
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#26 of 68 Re: 2007 Nissan Quest SE Lease [barcap]
Apr 23, 2007 (2:27 am)
Here's the information that you're looking for, barcap. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Quest SE with 12,000 miles per year are .00121 and 46%, respectively. Unless Nissan allows consumers to lock in lease programs on ordered vehicles, you will not be able to use this program to calculate the monthly payment on your ordered Quest, but instead will have to use the program that is available when you physically take delivery of it.
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#27 of 68 Money Factor/Residuals on 2007 Quest
Jun 18, 2007 (11:38 am)
Hi Car Man, can you tell me what the money factor and residual is on a 39 month lease of a 2007 Nissan Quest SL with 15k miles per year? Also for 12k miles per year?
I agreed to invoice price which I think is pretty good...
Thanks in advance for the help.
#28 of 68 Re: Money Factor/Residuals on 2007 Quest [ooomcooo]
Jun 27, 2007 (1:23 am)
I sure can, ooomcooo. According to the latest information that I have seen, Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Nissan Quest SL with 15,000 miles per year are .00068 and 44%, respectively. This van's 12,000 mile per year residual value would be 1% higher. Dealer invoice is a very good selling price for a lease of an '07 Quest.
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#29 of 68 Re: Money Factor/Residuals on 2007 Quest [Car_man]
Jul 02, 2007 (12:38 pm)
Is the money factor and residual value still in effect for July? I live in upstate NY and I bouncing around between an 07 Sienna, 07 Odyssey and 07 Quest. I'm looking for the lowest current lease plan for 36 months at 12k miles a year. I welcome any suggestions. My wife and I have looked at the Odyssey EX (test drove one), the Sienna LE with AWD (we still get a lot of snow every year) and now the SL Quest.
#30 of 68 Re: Money Factor/Residuals on 2007 Quest [conger14]
Jul 05, 2007 (2:22 am)
Hi Conger14. On July 3rd, Nissan published a new lease program. NMAC's latest buy rate lease money factor and residual value for a 36 month lease of a 2007 Nissan Quest SL with 12,000 miles per year are .00030 and 45%, respectively. This is a great money factor, but a terrible residual value.
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#31 of 68 lease deal - good or bad?
Jul 29, 2007 (4:51 pm)
I was recently quoted the following for a 2007 quest (base model):
39 mo.lease/12,000. miles
348.20 per month..
the dealer says he is "losing" money on me. I keep thinking they are lying and laughing behind my back! I am trying to get the monthly payment closer to $300...am i crazy to think this is possible?
#32 of 68 Re: lease deal - good or bad? [mich0222]
Jul 30, 2007 (4:05 am)
find out what the money factor and residual value is and any bank fees. also, is 24,300 the sale price or MSRP? Find out those numbers then run your own calculations. If the numbers are close, then you know that "they may be losing money on you" but it's possibly a good deal. If the numbers are off, find out why. You will probably want to back out at that point and find a new dealer.
My understanding based on some info posted here a few months ago that minivan sales are down across the board for all dealers and with the new model line coming out, almost all dealers will lose money on minivan sales so...go to www.leaseguide.com and read everything there. This was the best place for me to understand how to negiotate a lease. I have not finalized a deal yet because I keep finding dealers who are inflacting the money factor or residual value or just not giving me those numbers when I ask. If a dealer can't give you the numbers, alarms should be going off!
#33 of 68 Re: lease deal - good or bad? [mich0222]
Aug 03, 2007 (2:45 am)
Hi mich0222. The dealer invoice price for a base 2007 Nissan Quest with no options is currently $23,597. If this is the exact vehicle that you are getting, then you are paying around $700 over invoice. This isn't bad, but it's not quite the "losing" deal that it was made out to be. If you are in an area that has a decent level of competition, I personally would not be surprised if you were able to negotiate a price of a few hundred dollars less over invoice. You can look up the exact invoice price of the van that you want by visiting the following section of this site: Edmunds.com - New Vehicle Pricing.
Once you have arrived at a price that you are happy with, make sure that the dealer that gives it to you calculates your monthly payment using NMAC's current 39 month buy rate lease money factor of .00030.
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#34 of 68 Re: lease deal - good or bad? [Car_man]
Aug 03, 2007 (3:33 am)
thank you so much. i tried to get a lower rate through 3 different dealerships, and nobody could match it. So, I figured it was the best i could do. I leased the car, but now i see that the money factor is .00050. Is this terrible? Did I truly get ripped off?
(I won't sleep until i know i wasn't)