Lease or Purchase?
10-23-2017, 09:04 AM
#1
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Lease or Purchase?
First off, sorry if this has been discussed before on this forum, couldn't find. If so, would welcome being pointed to that thread.
So just curious to get opinions on lease vs. purchase of a new Maxima. My 2005 Maxima is first Nissan I ever owned, bought it outright and now after 12 years has 170,000 miles and still is in great condition inside and out. But have been thinking about and slowly looking for a new car for about the last 6 months. Like others, have done my due diligence in checking out other cars, but the Maxima is by far my #1 choice. At 60 years old I'm fortunate to say I can afford to get what I want (wasn't true when I bought my first Maxima at 48), and what I'm looking at would be a Platinum with all the bells and whistles.
I know all the typical pros and cons of leasing vs. purchasing. Which has me a bit on the fence. What I'm interested in from you guys are the following:
1. For those that have acquired a '16 or '17, do you feel when it comes specifically to the Maxima that the lease deals were a better overall value than purchasing, or vice versa?
2. If money was NOT the key factor, do you think you'd lease or buy, and why?
3. Knowing what you know about where car technology is going and specifically where Maximas are likely to go, do you think the Maxima will be different enough three years from now to lean more towards leasing one now to take advantage of those changes then, or that realistically the changes will be relatively small and that you'd project anyone buying a Maxima now will be still very happy with it in 5-7 years?
4. Lastly, since I have significant flexibility in when I pull the trigger on either lease or purchase, looking back over the last couple of years when did you all find was the very best time to do so? So the '18's are just coming out. Best to do at year end? In the dead of February? Maybe doesn't make a big difference, just get bids from a number of local dealers and go for the best deal? Other?
Appreciate in advance any and all of your thoughts. Thanks!
So just curious to get opinions on lease vs. purchase of a new Maxima. My 2005 Maxima is first Nissan I ever owned, bought it outright and now after 12 years has 170,000 miles and still is in great condition inside and out. But have been thinking about and slowly looking for a new car for about the last 6 months. Like others, have done my due diligence in checking out other cars, but the Maxima is by far my #1 choice. At 60 years old I'm fortunate to say I can afford to get what I want (wasn't true when I bought my first Maxima at 48), and what I'm looking at would be a Platinum with all the bells and whistles.
I know all the typical pros and cons of leasing vs. purchasing. Which has me a bit on the fence. What I'm interested in from you guys are the following:
1. For those that have acquired a '16 or '17, do you feel when it comes specifically to the Maxima that the lease deals were a better overall value than purchasing, or vice versa?
2. If money was NOT the key factor, do you think you'd lease or buy, and why?
3. Knowing what you know about where car technology is going and specifically where Maximas are likely to go, do you think the Maxima will be different enough three years from now to lean more towards leasing one now to take advantage of those changes then, or that realistically the changes will be relatively small and that you'd project anyone buying a Maxima now will be still very happy with it in 5-7 years?
4. Lastly, since I have significant flexibility in when I pull the trigger on either lease or purchase, looking back over the last couple of years when did you all find was the very best time to do so? So the '18's are just coming out. Best to do at year end? In the dead of February? Maybe doesn't make a big difference, just get bids from a number of local dealers and go for the best deal? Other?
Appreciate in advance any and all of your thoughts. Thanks!
Last edited by sschumer; 10-23-2017 at 04:50 PM.
10-23-2017, 10:19 AM
#2
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Location: MN
Posts: 104
I just leased a 2017 Maxima S (with some add on) with a loyalty promo from Nissan with a 9K discount, the MSRP was 34K and I purchased it for 25K, for a total of 26.5K with all the taxes and fess. I have a lease with 0 down for $320, and if I like the car I can buy it at the end of the lease for 15K, too me seems a very good deal for all the bells and whistles that come with the base model.
10-23-2017, 11:37 AM
#3
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Join Date: Jun 2017
Location: NYC
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I just leased a 2017 Maxima S (with some add on) with a loyalty promo from Nissan with a 9K discount, the MSRP was 34K and I purchased it for 25K, for a total of 26.5K with all the taxes and fess. I have a lease with 0 down for $320, and if I like the car I can buy it at the end of the lease for 15K, too me seems a very good deal for all the bells and whistles that come with the base model.
10-23-2017, 11:40 AM
#4
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Join Date: Jun 2017
Location: NYC
Posts: 253
OP, I personally do not think this Maxima is a "keep it for a decade" car. Nissans quality control has suffered since your 2005. And while it's a smoother driving, faster, more technologically advanced car... I do not think all those things will hold true for quite as long as you're hoping for with the newer era of Nissan vehicles.
I would NEVER buy a new Nissan/Infiniti now. Honda, Acura, Toyota, Lexus, yes.... But Nissans are meant to be leased these days, if that... Even my lemon lawyer (my maxima is a lemon) told me that out of all the Japanese brands, he sees far more Nissan lemons than the rest.
I would NEVER buy a new Nissan/Infiniti now. Honda, Acura, Toyota, Lexus, yes.... But Nissans are meant to be leased these days, if that... Even my lemon lawyer (my maxima is a lemon) told me that out of all the Japanese brands, he sees far more Nissan lemons than the rest.
Last edited by CNTRT; 10-23-2017 at 11:44 AM.
10-23-2017, 01:45 PM
#5
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Join Date: Oct 2017
Location: MN
Posts: 104
I also had a negative equity on my trade in, happy with the Maxima now, I hope I will not have a lot of reliability issues as mentioned in previous threads
Last edited by brosenz; 10-23-2017 at 05:32 PM.
10-24-2017, 05:01 AM
#6
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Join Date: Apr 2005
Posts: 221
OP, I personally do not think this Maxima is a "keep it for a decade" car. Nissans quality control has suffered since your 2005. And while it's a smoother driving, faster, more technologically advanced car... I do not think all those things will hold true for quite as long as you're hoping for with the newer era of Nissan vehicles.
I would NEVER buy a new Nissan/Infiniti now. Honda, Acura, Toyota, Lexus, yes.... But Nissans are meant to be leased these days, if that... Even my lemon lawyer (my maxima is a lemon) told me that out of all the Japanese brands, he sees far more Nissan lemons than the rest.
I would NEVER buy a new Nissan/Infiniti now. Honda, Acura, Toyota, Lexus, yes.... But Nissans are meant to be leased these days, if that... Even my lemon lawyer (my maxima is a lemon) told me that out of all the Japanese brands, he sees far more Nissan lemons than the rest.
10-25-2017, 04:42 PM
#7
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Join Date: Jun 2003
Location: a meadow south of Atlanta
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schumer - Reliability is part built quality, part luck and part taking good care of the car. I have bought the first year of each new generation Maxima since October 1984, and, other than the double-panel roof on my 2016 Platinum , which had to be replaced (at no cost), I have had no major problems, . I have driven more than one Maxima for over 200,000 miles with no major problem, but then I take very good care of my Maximas, and have all recommended service and maintenance done by my dealer.
I have paid cash for every one of my cars since the 1940s (never leased a car). But I can see leasing if we suspect major changes in a particular vehicle within a few years, or if we can get a very good deal with a lease.
The 2016 8th gen was, of course, redesigned from the ground up, including engine and CVT. But the 2017 and 2018 did not have any significant changes. I expect the 9th generation Maxima may arrive with major changes in 2023 as the 2023 model year. That leaves us in sort of an 'in-between' situation, in that I expect we will see an 8 1/2 generation Maxima at some point, and it would be either the 2019, 2020 or 2021 model year. That 8 1/2 gen may contain significant changes. In the old days, we could guess some of those changes, but these days, who knows? I would have suggested maybe a diesel option (which we had on the 1981-1983 Maximas), or a turbocharged 4 cylinder very popular now), but Nissan recently redesigned the Maxima engine, so may not be interested in changing engines or adding engine options.
You are going to have to make a decision without knowing exactly what Nissan is going to do with the Maxima these next few years. That is not a comfortable situation, but then many of us have had to do that with the Maxima.
I have paid cash for every one of my cars since the 1940s (never leased a car). But I can see leasing if we suspect major changes in a particular vehicle within a few years, or if we can get a very good deal with a lease.
The 2016 8th gen was, of course, redesigned from the ground up, including engine and CVT. But the 2017 and 2018 did not have any significant changes. I expect the 9th generation Maxima may arrive with major changes in 2023 as the 2023 model year. That leaves us in sort of an 'in-between' situation, in that I expect we will see an 8 1/2 generation Maxima at some point, and it would be either the 2019, 2020 or 2021 model year. That 8 1/2 gen may contain significant changes. In the old days, we could guess some of those changes, but these days, who knows? I would have suggested maybe a diesel option (which we had on the 1981-1983 Maximas), or a turbocharged 4 cylinder very popular now), but Nissan recently redesigned the Maxima engine, so may not be interested in changing engines or adding engine options.
You are going to have to make a decision without knowing exactly what Nissan is going to do with the Maxima these next few years. That is not a comfortable situation, but then many of us have had to do that with the Maxima.
10-25-2017, 05:12 PM
#8
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CNTRT had the misfortune of getting a lemon, its bound to happen to someone. I never see Nissan show up on any "worst of" lists, so I think it's save to assume it's somewhere near average (for most people). I've had lots of people tell me Honda and Toyota aren't as reliable as they used to be either... so maybe it's just an unfortunate trend in the industry. I don't know if it's cutting corners, the race to cram ever more features because we (the consumer) demand it, or a little of both.
10-25-2017, 05:38 PM
#9
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CNTRT had the misfortune of getting a lemon, its bound to happen to someone. I never see Nissan show up on any "worst of" lists, so I think it's save to assume it's somewhere near average (for most people). I've had lots of people tell me Honda and Toyota aren't as reliable as they used to be either... so maybe it's just an unfortunate trend in the industry. I don't know if it's cutting corners, the race to cram ever more features because we (the consumer) demand it, or a little of both.
10-25-2017, 06:04 PM
#10
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Location: NYC
Posts: 253
Yes, while no car is truly made like it used to be (in the 90s), Nissan is still just above Mitsubishi on the bottom end of the Japanese manufacturers....
Even the general manager of a high volume Nissan dealership, whom I got my last 3 Nissans from, told me that Nissans are essentially disposable, meant for leasing only. He pointed at the used lot across the street and said, a maxima over there, with 50k miles will drive like a completely different car than a brand new one.
He is absolutely right... And hat has been my experience with my 2012 Rogue SL AWD, which I traded after only 2 years for my 2015 Rogue SL Premium AWD, which I traded after only 2 years for my 2017 Maxima S, which I have been having problems with from day 1.....
Ive owned 9 cars in my life, and after 3 Nissans, I'm done with the brand.... UNLESS I find a nice 06-07 G35 coupe with low mileage for a good price, or a R32 Skyline GTR imported from Japan... Other than that, I'm moving on to Lexus for my next vehicle.
Nissans biggest downfall is their ****ty electric and hydroelectric steering. That's been the biggest issues I've had with these cars (although there have been other issues). Nissans electric steering feels different on different days and it's not linear... It sometimes feels more boosted than other times, and it's not refined.... In my 2015 Rogue, the steering felt like it was providing it's own inputs in different directions, and I had to constantly correct it while driving straight. My current Maximas steering has been getting worse since 1 week of ownership. It's a horrible trade off in an otherwise decent vehicle.... That's my biggest gripe... I can say much much more about why these vehicles are not made to be kept, but I'll digress
Even the general manager of a high volume Nissan dealership, whom I got my last 3 Nissans from, told me that Nissans are essentially disposable, meant for leasing only. He pointed at the used lot across the street and said, a maxima over there, with 50k miles will drive like a completely different car than a brand new one.
He is absolutely right... And hat has been my experience with my 2012 Rogue SL AWD, which I traded after only 2 years for my 2015 Rogue SL Premium AWD, which I traded after only 2 years for my 2017 Maxima S, which I have been having problems with from day 1.....
Ive owned 9 cars in my life, and after 3 Nissans, I'm done with the brand.... UNLESS I find a nice 06-07 G35 coupe with low mileage for a good price, or a R32 Skyline GTR imported from Japan... Other than that, I'm moving on to Lexus for my next vehicle.
Nissans biggest downfall is their ****ty electric and hydroelectric steering. That's been the biggest issues I've had with these cars (although there have been other issues). Nissans electric steering feels different on different days and it's not linear... It sometimes feels more boosted than other times, and it's not refined.... In my 2015 Rogue, the steering felt like it was providing it's own inputs in different directions, and I had to constantly correct it while driving straight. My current Maximas steering has been getting worse since 1 week of ownership. It's a horrible trade off in an otherwise decent vehicle.... That's my biggest gripe... I can say much much more about why these vehicles are not made to be kept, but I'll digress
Last edited by CNTRT; 10-25-2017 at 06:07 PM.
10-25-2017, 06:28 PM
#11
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Join Date: Mar 2017
Posts: 718
Thanks for the chart CNTRT.
Funny to see how Hyundai makes such a poor showing on this list, since that's what I have driven for the past decade, and it has been an exceptional car. Looks like the Nissan will be an improvement
Funny to see how Hyundai makes such a poor showing on this list, since that's what I have driven for the past decade, and it has been an exceptional car. Looks like the Nissan will be an improvement
10-25-2017, 06:45 PM
#12
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Join Date: Jun 2017
Location: NYC
Posts: 253
My step mother has been leasing cars since 2003. She had a 2003 Pathfinder Platinum, 2006 Murano, 2008 Altima SL, 2010 Maxima SV, 2013 Altima SV (Lemon), 2013 Maxima SV Premium, and now a 2017 Maxima SL.... You know which car she misses the most? The 2003 Pathfinder. And she doesn't even like SUVs like that... But the feeling of build quality and dependability is what she misses.
my dad had been leasing Nissans since 2010. He had a 2010 Altima SL, a 2013 Maxima SV Premium, and now a 2017 Murano SV AWD... You know which car he misses the most? His 1998 Dodge Intrepid ES... Build quality and road feel.... His 2010 Altima comes in at a distant second..... But you know what that car had? Hydraulic steering... Road feel.
I've been leasing Nissans since 2013... It started with a 2012 Rogue SL AWD, then a 2015 Rogue SL Premium AWD, and now my 2017 Maxima.... My favorite car that I've ever had? My 2006 Honda Accord EXL V6 sedan.... No artificial feeling crap.... Hydraulic steering, and quality. Second favorite? My dads 1998 Dodge Intrepid ES that he gave to me in 2008 with 136k miles, that I drove until it had 160k miles and the tie rods sheared off the rack because we hadn't taken care of the car in its later years. It still ran, but I got my Honda so we junked the Intrepid...
there's something to be said about the visceral feel of driving a car. All this technology that Nissan packs into their vehicles these days is meant to hide the cost cutting, and provide the customer with "value", or at least the perceived notion of value... To me, value is the car still feeling the same after 80k miles... These new Nissans feel different after 5k, and even more different after 15k, and then more different after 20k, etc.
my dad had been leasing Nissans since 2010. He had a 2010 Altima SL, a 2013 Maxima SV Premium, and now a 2017 Murano SV AWD... You know which car he misses the most? His 1998 Dodge Intrepid ES... Build quality and road feel.... His 2010 Altima comes in at a distant second..... But you know what that car had? Hydraulic steering... Road feel.
I've been leasing Nissans since 2013... It started with a 2012 Rogue SL AWD, then a 2015 Rogue SL Premium AWD, and now my 2017 Maxima.... My favorite car that I've ever had? My 2006 Honda Accord EXL V6 sedan.... No artificial feeling crap.... Hydraulic steering, and quality. Second favorite? My dads 1998 Dodge Intrepid ES that he gave to me in 2008 with 136k miles, that I drove until it had 160k miles and the tie rods sheared off the rack because we hadn't taken care of the car in its later years. It still ran, but I got my Honda so we junked the Intrepid...
there's something to be said about the visceral feel of driving a car. All this technology that Nissan packs into their vehicles these days is meant to hide the cost cutting, and provide the customer with "value", or at least the perceived notion of value... To me, value is the car still feeling the same after 80k miles... These new Nissans feel different after 5k, and even more different after 15k, and then more different after 20k, etc.
Last edited by CNTRT; 10-25-2017 at 06:48 PM.
10-25-2017, 06:52 PM
#13
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Join Date: Jun 2017
Location: NYC
Posts: 253
But hey, buy a new Nissan and keep it for a decade if you want to prove me wrong
Last edited by CNTRT; 10-25-2017 at 06:54 PM.
10-26-2017, 01:21 PM
#17
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Join Date: Jun 2017
Location: NYC
Posts: 253
wow that's a pretty good deal.
my 2017 S was zero down, and Nissan paid the first month, $1900 neg equity rolled in, 15k per year, and $330/month... Without that $1900 negative equity, my payment would be about $275
my deal was good, but yours was better. Where do you live?
my 2017 S was zero down, and Nissan paid the first month, $1900 neg equity rolled in, 15k per year, and $330/month... Without that $1900 negative equity, my payment would be about $275
my deal was good, but yours was better. Where do you live?
10-27-2017, 01:51 PM
#18
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Thread Starter
Join Date: Apr 2005
Posts: 221
schumer - Reliability is part built quality, part luck and part taking good care of the car. I have bought the first year of each new generation Maxima since October 1984, and, other than the double-panel roof on my 2016 Platinum , which had to be replaced (at no cost), I have had no major problems, . I have driven more than one Maxima for over 200,000 miles with no major problem, but then I take very good care of my Maximas, and have all recommended service and maintenance done by my dealer.
I have paid cash for every one of my cars since the 1940s (never leased a car). But I can see leasing if we suspect major changes in a particular vehicle within a few years, or if we can get a very good deal with a lease.
The 2016 8th gen was, of course, redesigned from the ground up, including engine and CVT. But the 2017 and 2018 did not have any significant changes. I expect the 9th generation Maxima may arrive with major changes in 2023 as the 2023 model year. That leaves us in sort of an 'in-between' situation, in that I expect we will see an 8 1/2 generation Maxima at some point, and it would be either the 2019, 2020 or 2021 model year. That 8 1/2 gen may contain significant changes. In the old days, we could guess some of those changes, but these days, who knows? I would have suggested maybe a diesel option (which we had on the 1981-1983 Maximas), or a turbocharged 4 cylinder very popular now), but Nissan recently redesigned the Maxima engine, so may not be interested in changing engines or adding engine options.
You are going to have to make a decision without knowing exactly what Nissan is going to do with the Maxima these next few years. That is not a comfortable situation, but then many of us have had to do that with the Maxima.
I have paid cash for every one of my cars since the 1940s (never leased a car). But I can see leasing if we suspect major changes in a particular vehicle within a few years, or if we can get a very good deal with a lease.
The 2016 8th gen was, of course, redesigned from the ground up, including engine and CVT. But the 2017 and 2018 did not have any significant changes. I expect the 9th generation Maxima may arrive with major changes in 2023 as the 2023 model year. That leaves us in sort of an 'in-between' situation, in that I expect we will see an 8 1/2 generation Maxima at some point, and it would be either the 2019, 2020 or 2021 model year. That 8 1/2 gen may contain significant changes. In the old days, we could guess some of those changes, but these days, who knows? I would have suggested maybe a diesel option (which we had on the 1981-1983 Maximas), or a turbocharged 4 cylinder very popular now), but Nissan recently redesigned the Maxima engine, so may not be interested in changing engines or adding engine options.
You are going to have to make a decision without knowing exactly what Nissan is going to do with the Maxima these next few years. That is not a comfortable situation, but then many of us have had to do that with the Maxima.
03-04-2018, 11:58 AM
#20
The Nissans in my family have been the most trouble free cars I have ever owned......Worst---Honda, 2nd worst-Ford, 3rd worst Oldsmobile, 4th Pontiac, and last, Toyota.
Nissans and Toyotas have given me the best results.
Nissans and Toyotas have given me the best results.
03-04-2018, 03:45 PM
#21
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Join Date: Mar 2017
Posts: 718
Wild *****, it really surprised me to hear you say Honda was the worst. Once upon a time you couldn't go wrong buying a Honda
03-04-2018, 03:46 PM
#22
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Join Date: Mar 2004
Location: Hilton Head Island, SC
Posts: 453
I, much like LOTH, have driven nothing but Maximas since 1987. I am on my tenth one right now. I have leased the last four mainly due to my company benefit of a monthly stipend that covers most of my payments. I have always gone for the top of the line version and must say that other than my black '87 stick shift Max, the '16 platinum is my favorite. I am approaching the end of my current lease and am on the fence as to whether to purchase it or trade it in for a new lease. Having just 12K miles on it in 30 months, makes the practical me lean toward purchase...but much to my wife's chagrin, my impulsive side makes me a slave to that new car smell and technological updates.
And other than routine maintenance, I have never had an issue with any of my cars.
And other than routine maintenance, I have never had an issue with any of my cars.
03-04-2018, 03:50 PM
#23
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Join Date: Mar 2017
Posts: 718
Financially, it makes the most sense to buy rather than lease. But if your the kind of guy always plans to be in a new car every few years... leasing can keep your monthly bills low.
I've always had the best luck buying "lightly used", and then keeping it for many years. But I don't mind spending a few years in an older car. In fact, I tend to get a bit sentimental about my old cars after a while. Still got my 2007 Hyundai Azera, and will keep it as long as it remains affordable to keep it running. So far it's been very reliable
I've always had the best luck buying "lightly used", and then keeping it for many years. But I don't mind spending a few years in an older car. In fact, I tend to get a bit sentimental about my old cars after a while. Still got my 2007 Hyundai Azera, and will keep it as long as it remains affordable to keep it running. So far it's been very reliable
03-05-2018, 07:03 AM
#24
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Join Date: Feb 2010
Posts: 1,864
Financially, it makes the most sense to buy rather than lease. But if your the kind of guy always plans to be in a new car every few years... leasing can keep your monthly bills low.
I've always had the best luck buying "lightly used", and then keeping it for many years. But I don't mind spending a few years in an older car. In fact, I tend to get a bit sentimental about my old cars after a while. Still got my 2007 Hyundai Azera, and will keep it as long as it remains affordable to keep it running. So far it's been very reliable
I've always had the best luck buying "lightly used", and then keeping it for many years. But I don't mind spending a few years in an older car. In fact, I tend to get a bit sentimental about my old cars after a while. Still got my 2007 Hyundai Azera, and will keep it as long as it remains affordable to keep it running. So far it's been very reliable
If you plan on keeping your car a long time I do believe buying it from the start is the best path. For me, I like leasing because I am willing to pay that depreciation and have a guaranteed residual value, then walk away for another interesting car that shows up over those three years. By the way, right now it looks like the Maxima still holds up very well against the competition even today, so I might re-up for another 2019 Maxima Platinum