I know the 2023 Altima currently has some historically high residual values on 24 month leases, which make for a good deal when put into the calculator. I’m seeing 69% on a 24/10k SR lease. I know the money factor is on the high side, but I’m OK with that.
However, when I find a dealer with the car and ask them for a quote, they’re all coming back at least $200 more a month. I’m coming up with $259/month in the calculator with $3400 down, they’re coming back in the $440-$450 range with all the same numbers with exactly the same lease and price numbers. I know some tack on prep-fees, but $1100 for prep shouldn’t add that much to the payment.
I’ve checked everything I can think of, they’re using NMAC, both Leashackr Rate Calcr and Edmunds forums are showing the same numbers, they’re Florida dealer as well. Could they be inflating the money factor, if so, any recommendations for countering this? I’m just looking for an angle where I can get this into a reasonable range before I waste a bunch of time. One salesman told me my numbers were “impossible”, even after he acknowledged the residuals were the same. Is he just plain lying to me?
What is the MF they are using? If it isn’t what the Calc shows from NMAC with max MSDs (if you are going that route, 1 Pay, etc.) or for a monthly then go elsewhere.
Until you see the MF in their deal sheet you are flying blind.
Not really a direct answer to your question, but I don’t believe these Nissan 18m “deals” actually translate into any kind of value outside of a very narrow use-case.
For most people, cars should be viewed through the lens of repeated cycles over one’s lifetime, and the TCO (total cost of ownership) for each strategy.
One type of cycle is to buy/finance brand new, and then trade in after ~6 years for another brand new. That can be compared against the TCO of successive 36m leases. In that lens, the TCO of successive 18m leases is probably the most expensive.
Back in 2021, NMAC was very flexible about extending for 2-3 months at a time up to 6 months total, for the obvious reason that “my dealer has almost no new QX60 for me to lease.”
Going forward, it’s anyone’s guess whether they’ll allow (A) blanket approvals, (B) case by case based on reasons they find credible, and (C) blanket denials.
(A) seems the most unlikely since their high RV lease programs seem designed expressly to eliminate not only flips but also lessee buyouts at lease end. Apparently, 100% of leases being grounded and entering the used/CPO pipeline is their goal?
On a one pay 18 mos lease how does one get and pay for an extension? Would the monthly rate over the extension period just be the one pay divided by 18? Or pay the lump sum due for the extension period ie 2 months?
I was hunting for an Altima lease in April, MF was high at .00291, but still doable with the higher residuals they had. May 1st they jumped to .00352. (8.48% !). That added like $30 to the monthly payment in the calculator.
