I pay $450 a month to lease my 2000 Maxima GLE?
Is this highway robbery?
Why is my lease so high?
How much do you other lease guys pay a month?
Thanks for the insight,
Jeff Catt

 

What are your terms to the lease? 12k, 15k a year, plus your buy-off amount..

$450 sounds pricey; understand that the concept of leasing means that you are only supposed to pay off the deprication of the car, therefore, the shorter you lease it, in turn the better deal you get. So for a short lease $450 could be a good deal, being that cars depriciate a lot in the first year, however, you have a 2000.... sounds like your dealer might have taken you for a ride, at least (i hope for $450) your allowed 15k a year.....

 

Depends on what your terms were. How many miles/yr? downpayment? # of months? interest rate? etc.

But that's definitely high, a relative of mine pays $445/mo on a 2k2 semi-loaded Maxima and it's a purchase (5yrs)

 

Well on March 15,2003 my three year lease ends. and I'm on a 15k.

 

Ok so three years at $450 they are saying the card would depriciate $16,200 from the time you got it in march of 2000 when the car was probably selling for around $30-32k.....

So in march of 2003 (when you trade it in) if 2000 GLE's w/your options are selling for around $16-18K, then you had a pretty fair lease..... Actually by those figures it sounds like a pretty good deal because a 99GLE sells for I'm assuming around $16k right now, probably lower but we are half a year past march of 02, plus the generation switch doesn't help the resale of 99's right now....

I'd say your deal is fair, for 15,000 miles a year, sounds good to me. The only thing that would make this lease go sour is if they charge you $$$ for every minor thing wrong with the car when you turn it in (scratchs, etc.)...

 

Cool, I was getting worried on another thread someone said I was getting robbed on my lease; I was like wft?, I'll ask around!
Thanks for the info.
I feel much better now, although I still have $450/mo. payments..oh well can't wait for March to roll around!

 

You didn't tell us what your residual value and sale price are, they should be listed on the lease contract.

 

I'll have those numbers tomarrow. I don't have handy. but How would those numbers change the situation.

 

I paid $363.00 a month for my 2000 SE lease, with 12000 miles per year alloted. I had put $1000.00 down on the car. Your lease sounds a little high, unless they are giving you a ton of miles each year.

 

Well, you asked this at the beginning:

If you want to minimize the guesses, providing specific details on your lease would be helpful. Without looking at your numbers I think that depreciation for 3 years/45k would be around $10.5-11k (numbers off Edmunds). If those numbers are correct the lease payment comes just over $300/mo.

 

Yeah, I'm closer to you. Same thing, except I'm paying $339 a month for 5 years...and mine's a 2k2. I'm already at my miles, but I don't care, since I'm going to either buy it early or just buy it at the end.

 

I'm paying $430 per month for a similar '00 GLE, on a 3 year lease with 15K miles. So it looks like you're in the ballpark.

 

I have a '00 SE with 2k down I pay 323 a month. Can't wait til July when its over. Moving on.

 

I have a loaded 2K2 SE w/ 15K per year and pay $408 for a 36 month lease. I did put $2500 total cash out of pocket though (includes first payment).

My loaded '00 SE with 15K per year was $398 with $2000 out of pocket.

The amount of capital cost reduction (total cash out of pocket) will significantly effect everyone's numbers here too.

 

well, for around $400 a month, why do you lease? I'm paying $390 for 5 years, and I think the downpayment was $2000 bucks. I'd rather buy the car. Ok granted that there is a big big price difference between a barebone GXE and a loaded SE, I'd still choose to buy the GXE for $400/month than to lease a SE with every options for $400/month for 36 months.

 

I don't understand why you would throw $5k a year on a lease. Here is a tip on how to lease more for less. First, you pay for the depreciation of the vehicle plus tax and interest. Figure that on your own before you walk in the dealership (yes, it takes some homework). Second, you want to lease not a brand new car, but a slightly used one. Take this for example: a 2003 Acura Tl with 5400 miles, pristine condition. If you can get a lease on it for $4k less than it's original price and get a 3 year/15k lease, you would be paying less than $250 a month for an almost new vehicle that's still under factory warranty. A similar deal can be made on a 2002 I35 or Lexus ES300. This works well with cars that have factory warranty of 4 year/50-60k and average depreciation, but it won't be a good deal on a Maxima. If you want a silly deal, you can do the same with a Hyundai Elantra and your lease could be as low as $85 a month!

 

The only problem with that plan is the factor (equivilent to interest rate) that banks charge on cars that have been titled (used) are significantly higher than on new ones. You couldn't touch a slightly used '03 TL for $250/mo on a lease with nothing down and 15K a year.

 

Leasing isn't for everybody... but with a payment of $400 a month for 36 months, you are just covering the depreciation plus interest on a loaded '02 SE. What will a 3 year old '02 Maxima SE with 45K miles on the clock be worth in the middle of 2005 (especially since a totally new Maxima comes out next year)??? I wasn't interested in taking that gamble.

 

Actually, I just saw a lease on a title 2002 I35 for $290 a month with no down! I agree that the lease factor is different for titled cars but the point is to avoid the first year depreciation and still have factory warranty during the lease.

 

Wow, I don't know anything about leasing, but my monthly payment to purchase is just under $450 @ 60 months...I have a 2k1 SE

 

I guess it all depends on the state, but in Illinois the fine print would always have to say 'plus tax, title and license fees'...taxes are 7.5% of book value or about $2000...