0 down Murano SL with tech package NJ

Location:North NJ
Situation: Total monthly is $500 . My mom signed the lease last night with one day to cancel if she wants. She just wants to get it done with and was told by my sister, an accountant, that this is good enough of a deal. If it were up to me, alone, I wouldn’t mind waiting out negotiations.

SL with tech package
MSRP is 42k (42k is also the total gross capital cost on the nissan lease sheet)
Agreed upon price is 36k (althought it says 39k on the financials as I’m looking at it- I dont remember why but it went from 36k agred earlier with sales to 39k, my mother was doing most of the financials)
12k miles per year for 36 months
36 month lease, 0 down, with 1st month drive off fee
and gaap from dealer
1 year dealermaintenence
595 acquisition fee
350 itle and registration
sales tax in nj is 1329
doc fee 419

Residual when I asked was 51%. Who sets this, is it dealer or manufacturer set? Can I negotiate the residual or not?

Total cost of lease if we buy is also around 42k

Is this a good or bad deal. If I take it back to the dealer today, how do I negotiate this down?

For the leasehackr calculator I dont get how to pull money factor from this lease financials sheet?
Conceptually I get some of the costs associated here, but I could use some help in figuring out what is what, how it factors into my lease price. If the total cost of my lease is almost as much as owning the vehicle outright, doesn’t that typically mean its just better to buy it?

Personally my mother puts a premium on a lease since she likes a new car, not having to worry as much about maintenance/old car, but being so close the the actual car value, shouldn’t we be asking a much lower price?


There’s a lot of questions that can be answered by reviewing a FAQ on leasing. Chances are you agreed on 36k after rebates which is not a bad deal. 3-4k off MSRP on this vehicle BEFORE rebates is not a bad price.

GAP is built into Nissan leases in most states, not sure but iirc 2 states don’t, but you should have them roll all costs (acq fee + drive off) into the payments and do 0 due at signing. 595 is also expensive for maintenance as cost on it is likely ~$150 from what I’ve seen.

Residual is set by the manufacturer, dealer cannot play with this at all so you get what everyone gets under the same circumstances but money factor can be marked up by roughly 0.00040 which I would estimate to be $23-$25/month. I’d recommend doing more research on the buy rate and figure out what they’re quoting you at. Money factor is like interest calculated as (gross cap cost + residual) x MF rate per month.

No, you are leasing because you foresee yourself getting rid of it in 3 years. Chances are if you bought this vehicle for $40k + $5k in fees and paid for 36 out of 60 months on a loan, you could potentially be upside down (let’s say theoretically you owed $18K and residual is roughly $21,500) your payments would have been significantly higher (lets say $750 for 60 months) and you’d BARELY have equity.

We can pay it out in cash up front. 40 grand plus

rebates and non cash credits are 3175. I guess that was taken away from the agreed upon value of 39k?

NJ. GAp wasn’t in my Camry lease, and from I understand user would be liable for a totaled car. From what I understand this isn’t usually the case, they would take out the payment from insurance no matter what at other car brands dealerships

Money factor when I asked (not in writing) financer was .003. I’m a little confused what the buy rate has to do with anything here.

This is quite academic unless the “1 day to cancel” is actually written somewhere, isn’t it?

it’s an NJ law I have the waiver I signed saying I acknolwedge I know this. that’s not what’s being discussed here though. Thank you for your input

Official NJ consumer affairs literature states there is a 24-hour review period for an unsigned contract. And that a lessor may ask you to sign a waiver of your right to review an unsigned contract:


Under the C.P.L.A., you are given a one-day cooling-off period to review the lease contract. This innovative provision allows you to bring the unsigned agreement home to review the numbers and to determine whether that agreement is right for you. Not doing so could prove costly.

A lessor may suggest that you waive your right to review the contract; however, you might not want to do that. In fact, you should think long and hard before doing so. Remember, there are very few deals that are so good that they will not be available 24 hours later.The waiver has specific wording which is: I HAVE BEEN ADVISED THAT UNDER THE NEW JERSEY CONSUMER PROTECTION LEASING ACT, N.J.S.A.56:12-60 et seq., I AM ENTITLED TO REVIEW THE LEASE CONTRACT FOR ONE 24-HOUR BUSINESS DAY BEFORE SIGNING. I CHOOSE TO WAIVE THAT RIGHT AND SIGN THE LEASE NOW.

Bottom line. You could have done a little better overall on the deal and the gap was scam but you didn’t get totally raped.
Enjoy the new car.

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is probably your key here. The normal consensus on this forum of a great deal is that the monthly payment (total including tax) is < 1% of MSRP. In your case, your monthly should be ~$420. But “good enough” is “good enough” if you don’t want to deal with the negotiations (some people hate this and worth the extra $80/mo)

As far as leasing vs purchase goes, one aspect of doing a lease is that you let the dealer take the risk on the depreciation (residual). At the end of the lease, if the actual sale price of the car is higher, then you get some equity. But if it is less, then just return the car and you can either do a new lease or purchase another Murano at current used prices

Normally I’d take a lot more time out buying a car, but alas I can’t change my parents or my family members. They thankfully can afford a premium like that, but the reality is they wouldn’t give two shitts about negotiating on a car like this. I did it so I can learn for if I ever have to do it myself. I appreciate the help guys

So what would my higher ‘sales price’ at the end of the lease? Higher than which of the numbers I presented vs my total lease cost ?

how is the gap a scam? it doesn’t cost the dealer anything (my intuition) or that liability isn’t an issue, it’s already built into the lease contract?

I know for Toyota it definitely isn’t. So that saved me $300-$600 a year in the lease price

The higher “sales price” is unknown at this point but somebody has to make an estimate. In your case, it is 51% x $42k = $21,420 (that should be on your paperwork).

In 3 years, that car “on paper” is going to be $21,420 for you to buy it. At that time, if you look around (or go to Carmax or Beepi) and they may offer to buy the car from you at $22,000. In this case, you can sell it to them and pocket the $580 (in theory only – there are other fees).

However, the most likely scenario is that the car will be worth less than $21,420. In this case, you can just give the car back to the dealer and you don’t have to deal with the fact that your car lost more value (depreciated) than you anticipated.

So, this translates to “no risk” on your part for the depreciation.