Last post on Apr 17, 2013 at 7:29 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Nissan Quest, Car Leasing, Van
#58 of 68 Signed a lease on a Quest SL on Labor Day weekend
Sep 02, 2012 (10:32 pm)
After comparing a few lease quotes, between the Quest LE, SL and Sienna LE, I decided to go with the Quest SL. Here are the data (all based on 12K miles/yr):
Quest LE quotes: MSRP - $44,130; Net Cap Cost - $39,800; Residual - $22,506 (51%); Money Factor - 0.00195; Term - 36 months. Monthly payment is $567.01 + tax; Down payment $3,000.
Quest SL quotes: MSRP - $35,720; Net Cap Cost - $32,048; Residual - $19,646 (55%); Money Factor - 0.00185; Term - 39 months. Monthly payment is $283.26 + tax; Down payment $3K.
Sienna LE with Leather Seats and Navigation: MSRP - $33,785; Net Cap Cost - $31,895; Residual - $16,632 (49%); Money Factor - 0.0004; Term - 36 months. Monthly payment is $404 + tax; Down payment $3K.
In truth, the Sienna LE was a 2012 model which has an awesome 0.0004 money factor. The only thing the Nissan dealer can do to match such a low monthly payment is to extend the terms from 36 months to 39 months, which really isn't apple to apple anymore. However, as you can see, the Sienna's discount (MSRP-Cap Cost = $1,890) on the vehicle wasn't as deep as the Quest SL (MSRP-Cap Cost = $3,672). To me, the Quest SL is a much better vehicle than the Sienna LE. So the deeper discount on the Quest SL out weighs the lower money factor on the Sienna LE in my opinion. Plus, as you can see, Sienna's residual value is not as high as the Quest. Therefore, it offset some of the benefit of the lower money factor.
I really like the Quest SL, because I have the power lift gate which the Sienna LE lacks. The leather upholstery and the interior design is so much better than the Sienna. I know the Quest SL doesn't have the navigation, but nowadays with the free nav on our smart phone, I really don't think it is reasonable to pay almost $8k more on the Quest LE over the SL just because of the nav. All the other nice features like the seat memory, blind spot monitoring..etc are nice, but I can live without. So at the end, the SL is a very sensible choice in my opinion, saving about $200/month in monthly payment comparing to the Quest LE.
#59 of 68 Nissan Quest SE 2012 lease deal
Sep 16, 2012 (9:26 am)
Hi am planning to taking delivery of an Nissan Quest 2012 LE model with out moon roof. The car has an MSRP of $43625. I have made a deal that total of out pocket monies including taxes, destination charge, motor vehicle and acquistion fee, bank fee etc for a total of $4000 and no other money out of pocket is required. The lease price per month which includes the gap insurance is $465 for 39 months 12000 miles per anum. What is your opinion of this deal for anyone that can answer would be greatly appreciated?
#60 of 68 Quest SL Lease
Sep 16, 2012 (10:25 am)
Just wanted to add a data point for a Quest SL that I leased yesterday.
15k miles/year 39 month lease
Net Cap Cost: 30945.00 (Includes Acquisition Fee/Dealer Fees/Tag/etc.)
Total due at signing $410 ($394 monthly payment + $16 down..don't ask me why)
Monthly Payment: $394 inc/tax
#61 of 68 How to figure money factor conversion to %
Jan 21, 2013 (9:54 am)
Take the money factor and multiply by 2,400 and you get the interest rate equivalent.
Most leases are pegged to 15,000 miles per year, because that is the average people drive per year. THIS IS THE STANDARD! The reason you see ads for 12,000 or 10,000 miles if because there is a bump in the residual value and they can advertise a lower payment. You can get up to 25,000 miles per year in most leases.
If you are a high mile driver and change cars every 3 years, leasing is perfect. Instead of being upside down, you get a payment similar to the buy option (leases are normally lower because you are only paying for a portion of the vehicle) without being told you're upside down $5,000 because you have a 3 year old car with 75,000 miles.
The only people who buy those cars are people looking for a killer deal.
#62 of 68 2012 & 2013 Quest SV money factor & residuals
Feb 17, 2013 (9:31 pm)
What is the lease money factor and residual value for a 36-month lease of a 2013 Quest SV both with and without the leather package for a 15K mile per year lease in Florida.
Also there may be a few 2012s out there - any difference in numbers on 2012s?
#63 of 68 Re: 2012 & 2013 Quest SV money factor & residuals [dacarmon]
Feb 19, 2013 (4:17 pm)
Hi dacarmon. NMAC's February buy rate lease money factor and residual value for a 36-month lease of a 2012 Quest SV with 15,000 miles per year are .00093 and 53% for consumers who qualify for its top credit tier.
The numbers for an otherwise identical lease of a 2013 model are .00155 and 52%.
There is a $1,450 cash incentive on leases of the 2012 model and $1,425 on the 2013 model.
Prices Paid: Buying & Leasing Experiences Forum
#64 of 68 Re: 2012 & 2013 Quest SV money factor & residuals [Car_man]
Feb 20, 2013 (10:13 pm)
Thank you Car_man! I really appreciate the info.
What are the numbers on the 2012 SL? On the incentives page, I noticed the 2012 SL has $1750 in dealer cash and that both the SV and SL have a $500 bonus offer.
There is also a $3000 customer offer though I'm assuming this only applies to purchases. On the SL can you confirm that the $500 and $1750 would apply to leases and whether or not the $3000 would apply to leases or only for purchases?
#65 of 68 Re: Quest SL Lease [deuzcent]
Feb 21, 2013 (4:01 pm)
What year was the Quest you picked up?
#66 of 68 Re: Quest SL Lease [shenanigans]
Feb 25, 2013 (9:40 am)
I got a Quest LE 2012 today
Negotiated price 40271 ( 500 below invoice)
Payment 0 down $612
Total 35 Payments
#67 of 68 Re: 2012 & 2013 Quest SV money factor & residuals [dacarmon]
Mar 04, 2013 (4:55 pm)
You're welcome dacarmon. NMAC's current buy rate lease money factor and residual value for a 36-month lease of a 2012 Quest SL with 15,000 miles per year are .00110 and 53% for consumers who qualify for its top credit tier.
You're right, the $3,000 consumer cash is not available on leases, but there is a $1,450 cash incentive that is. I can confirm the $500 bonus cash and the $1,750 dealer cash. The bonus cash is definitely available on leases and I think that the dealer cash is as well.
Prices Paid: Buying & Leasing Experiences Forum