[SALvation]

Hello,

I am looking to join the family in a couple of months and have started emailing around for quotes. So far I only have one quote back, but wanted to get your opinion:

2006 SL AWD w/Touring
39 months
15k miles
$0 down ($1,100 due at signing)

roughly $500/month

That quote just floored me. I was expecting about $400/month. For the price they quoted me, I can go get an FX. Are these guys high or is that what most are seeing since the car is new.

 

[Kris]

I lease FX35 with touring package. Paid $2,000 at signing and my lease is appr. $420/month. 60 mths lease. $500/mth for Murano seems high.

 

[njjoe]

According to the NissanUSA website, Nissan is currently offering the following for a 2006 Murano SL AWD w/ Touring Pkg, Splash Guard, Cargo Protect, Sunroof Wind Deflector & mats

42 MONTHS - 12K miles/year - $359/MONTH - $2,399/INITIAL PAYMENT

-njjoe

 

[gmsmith]

Wow, that does feel high...what is the cap cost? Key things to know about a lease, MSRP, cap cost (cost you negotiated down to), money factor, and residual. Without those numbers you can't really tell if you have a good deal

We just leased and 06 SL w/Touring, mats, sunroof deflector, cargo cover, roof rails (total sticker was 36,700ish). Cap cost was 33,500, 42 month lease (with extended warranty) and 15k miles/yr. 0.00 down first month due at signing (no security). $430/mo

I could have worked the cap cost a little, but the dealer (Hall of Newport News) treated me right (after a crappy experience at Victory Nissan in Richmond).

Also, there is a sweet spot at 42 months on the leases right now, Nissan is running a special:

42 mo/12k SL w/Touring (and junk) - $359 with 2400 down (plus taxes)

 

[SALvation]

I had to email them back and ask for the stats like cap cost, money down, and residuals. No matter what my initial email asks for, they never give me that info unless I ask twice. I'll post back as soon as they respond and I'll also let you know what other dealers quote me.

 

[gmsmith]

I had to email them back and ask for the stats like cap cost, money down, and residuals. No matter what my initial email asks for, they never give me that info unless I ask twice. I'll post back as soon as they respond and I'll also let you know what other dealers quote me.

Maybe time to find a new dealer

 

[shappy0869]

Here are this month's lease numbers

 

[mgthe3]

quote is way to high.

 

[10413]

Re: Here are this month's lease numbers

I, for one, don't know how to read/interpret that. Can you explain?

 

[shappy0869]

Take a look at this, it was written by yours truly

 

[gmsmith]

Basically if you want to lease an SL AWD, for 39 months, the residual value of the car is 54% of the MSRP. The interest rate (or money factor) for said car is .00155 (APR = money factor x 2400) or 3.72%

The only unknown variables in caculating a lease with these numbers are the MSRP, which is on the window sticker (none of this dealer mark up crap...the actual Nissan sticker) and the capitalized cost, the cost you negotiate the car to cost.

So once you have those, you calculate a lease like this:

Depreciation Fee = ( Net Cap Cost – Residual ) ÷ Term
Finance Fee = ( Net Cap Cost + Residual ) × Money Factor

Total Monthly Payment = Depreciation Fee + Finance Fee

So if you buy a car that is 36000, you negotiate the price to be: 33000...it would look like this (using the 39 month SL AWD as an example)

(33000 - 19440) / 39 = 347.69 <--- Depreciation

(33000 + 19440) x .00155 = 81.282 <--- Finance

Total Payment = 428.97

Keep in mind, this doesn't include any taxes and if you wanted to put money down, you would adjust the 33000 appropriately, so for a 2k down payment, you would adjust it to: 31000. Keep in mind, downpayment and at signing dollars are differnet. Normally first and security (plus dealer bull sh** fees are due at signing). Tax is determined by the state. In Indiana it is added to each lease payment...in VA you pay it up front or you can roll it into the lease (but then you pay interest).

Does this help?

Also, the residual numbers are for 12k not 15k miles a year...-1% for 15k

Greg

 

[shappy0869]

Also, the residual numbers are for 12k not 15k miles a year...-1% for 15k

Greg

Actually, these numbers are for 15K miles/year. Add 1% for 12K miles/year for 24-42 months and 2% for 48 & 60 months.

 

[gmsmith]

Actually, these numbers are for 15K miles/year. Add 1% for 12K miles/year for 24-42 months and 2% for 48 & 60 months.

My bad, I switched it in my head...

 

[Kris]

You guys are magicians!

A long time ago I believed in numbers.........then I discovered financial world…..and statistics...........you know what I mean

 

[10413]

Great information... the explanations helped!

 

[SALvation]

Still waiting to hear from the first dealer that quoted me $500 but dealer #2 emailed me with a quote of $481. Of course no stats were included with that one either so I have to ask this guy also for the numbers he's using.

 

[SALvation]

Dealer #3 chimes in with $469. Using these numbers:

MSRP is $36,095.00
cap cost is $33,599.00
residual is $18,408.45
money factor .00091

 

[gmsmith]

Dealer #3 chimes in with $469. Using these numbers:

MSRP is $36,095.00
cap cost is $33,599.00
residual is $18,408.45
money factor .00091

Using these numbers, I get 410 + tax.

Does that 469 include tax? What is the downpayment (none right)?

Unless tax is 59 bucks a month, (which would surprise me) that is too high.

Also, you have room in the cap cost. I believe the invoice for the SL AWD w/Touring is 32805 (or close to it).

 

[SALvation]

Down payment would be zero. I'm not going to back and forth with a dealer yet because I am still 2 months away from purchasing. Also, I'm still undecided between paying less and getting a Murano, or just going for the FX. I went to the NAIAS here in Detroit tonight and sat in both and both were very nice.

 

[njjoe]

My dealer only has a few 2006 models. In fact the showroom had a 2005 model on the floor.

In two months time when you are ready to lease there will be a lot more cars on the lots and you should be able to get a MO for a lot less than MSRP. That will reduce the monthly payment accordingly.

Just wait. You'll see.

Good luck.

-njjoe