Principles of leasing
#1
Principles of leasing
Leasing has always made sense to me with the generous workplace allowance that I am given and the stipulation that I get a new vehicle every 3-4 years. However, after today's visit to my local dealer I am a bit miffed. I have always thought that the payment was based on the difference between the purchase price and the residual price along with a certain percentage for interest. How then do you explain an increase in monthly payment of over $100 from my current lease despite the purchase price of the '16 being less than that of my current '12? For the amount that I was quoted, I could be driving a high end vehicle.
#3
You are correct but the difference is between the Residual and the total Capitalized Cost, which is the negotiated sale price PLUS anything else you roll into the payment like tax, bank, or whatever. Residual is based on the MSRP, so high residual value, low money factor and big discounted sale price equals a super lease.
The interest, money factor, on the 16 is higher than it was for your '12. Also, the car is not being discounted as much and probably will not be for a while.
I gave up and leased a Lexus instead.
The interest, money factor, on the 16 is higher than it was for your '12. Also, the car is not being discounted as much and probably will not be for a while.
I gave up and leased a Lexus instead.
#4
Never thought that I would come to this, but I an weighing the SL versus the Platinum. Don't get me wrong...there is no shame in this option; I am just blown away by how much I am being quoted for leasing options!
#5
Principles of leasing
I would suggest that you wait it out, it will only be a little while longer before the money factor comes down and you can negotiate a little more. What you pay for an SL today could probably get you a platinum by the end of the year. Good luck with your decision.
#6
#7
I think you're right- even in terms of purchasing. I can't find dealers around here willing to deal- I see 500 off, 750 off, but i don't see anything significant. I bet in couple months be different.
#8
It looks as though Nissan is shooting themselves in the foot. We see very few on the road thus no interest and talk about the new Maxima. Get them on the streets, create a demand and maybe buyers will be willing to pay the price.
The precedent has been set. The public expects great lease deals and big discounts because Nissan has done both in the past several years. NMAC bought out my 2009 lease six months early and got me in an identical 2011 for 309 a month. Taxes and everything included...but for the plates which is done after the deal in Indiana.
The precedent has been set. The public expects great lease deals and big discounts because Nissan has done both in the past several years. NMAC bought out my 2009 lease six months early and got me in an identical 2011 for 309 a month. Taxes and everything included...but for the plates which is done after the deal in Indiana.
#9
I don't know all the details but if this helps at all I'm leasing an 8th gen Maxima platinum in Ohio for $398/mo I have excellent credit but I've never leased nor had a car loan so I only qualified into tier 3 credit and had $4000 for my trade. If I would have qualified for Tier 1 credit I would have been paying $350/mo. No idea if this is a good deal, but it's less than the current lease offers on the site. That price also includes the extended lease warranty so I'm not responsible for anything when I turn it in.
#10
I don't know all the details but if this helps at all I'm leasing an 8th gen Maxima platinum in Ohio for $398/mo I have excellent credit but I've never leased nor had a car loan so I only qualified into tier 3 credit and had $4000 for my trade. If I would have qualified for Tier 1 credit I would have been paying $350/mo. No idea if this is a good deal, but it's less than the current lease offers on the site. That price also includes the extended lease warranty so I'm not responsible for anything when I turn it in.
#11
3 year lease, 12,000 miles per year. The only thing I put down was my trade which was valued at $4000. That price includes all tax, title, and license fees, even the lease warranty. Also my first months payment was covered with my trade as part of the deal.
#12
Never put money down on a lease, whether it be trade or cash. If you want to put the first month payment down, that's fine but you should take the money from the trade (have the dealer cut you a check) b/c if you total that car when you take it off the lot, that money is lost. Essentially you would be paying around $520/month with no money down. That's way too much for a Maxima.
If you are happy with your deal, that's all that matters at the end of the day..
If you are happy with your deal, that's all that matters at the end of the day..
#13
Yeah I'm happy with the deal it's a good friend of mine that got me the deal. She told me the dealer broke even on it... Aside from me qualifying into tier 3. I bought my previous cars with cash so I have no history of an installment loan on my credit.
#14
Never put money down on a lease, whether it be trade or cash. If you want to put the first month payment down, that's fine but you should take the money from the trade (have the dealer cut you a check) b/c if you total that car when you take it off the lot, that money is lost.
I keep hearing that you shouldn't put money down but then my payments end up being higher.
Or am I missing something?
#15
#16
Any down payment?
Monthly payment?
Edit, never mind. I saw your post on the Q50 forums.
Last edited by jds22; 10-02-2015 at 09:27 AM.
#17
Originally Posted by jds22
Is that the only reason to not put money down on a lease?
I keep hearing that you shouldn't put money down but then my payments end up being higher.
Or am I missing something?
I keep hearing that you shouldn't put money down but then my payments end up being higher.
Or am I missing something?
#18
You're essentially giving money away... I have leased 6 cars and never put money down. My current 2103 Max Sport I am leasing for way less that $400/month with only first month payment down. The lease deals aren't out there and I am sure the money factor isn't there either. Give it until around December and they should start popping up.
#19
The money factor dropped on 1 October from 0.00084 (2.0% interest) to 0.00045 (1.1% interest) while residuals remained the same, so the car is slightly cheaper to lease this month than it has been since originally going on sale. Seems like nationwide Maxima inventory is continuing to climb, so the best way to get a good lease deal is to negotiate a large chunk of change off of the MSRP.
Like the others said, don't ever put money down on a lease. Yes your payments will be higher, but you're better off just saving any money you would have put down and putting it in a savings account to help make your lease payments.
Like the others said, don't ever put money down on a lease. Yes your payments will be higher, but you're better off just saving any money you would have put down and putting it in a savings account to help make your lease payments.
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