Is this a Good Deal on 2017 Nissan Rogue for 18k miles lease

Ask the Hackrs
1

Dear All,

I have a sedan on which I owe $7k. I want to get a bigger car, but due to 1 accident I am only getting $4.5k for my car.

I drive a lot 15-20k miles each year.

Today I got an offer for leasing a 2017 Nissan Rogue SV with Premium package (360 camera version, but no leather or moon roof or Bose system)

Retail $30,080, Sale Price: $28,800, Final Capital Cost after adjusting for Car Trading (i.e. I give them my car, they pay the bank the $7k): $32,900
Down Payment: $1380
Term: 36 Months
Residual: 58%
Miles : 18k per year, Total 54k miles
Money Factor 0.0007 (~1.68%)

My monthly payment (includign tax) : $392/m
GAP insurance is included

Nissan does not do multiple security deposits, so no way to reduce the payment

Thoughts? on the base deal ? is it a good deal?

2

Don’t understand your numbers, but it looks like a bad deal.

What does “Trade: $31500” and “Money Factor + 0.007” mean? Is that MF a typo?

3

HI Jon,

I updated the post. Thanks.

FYI, without accounting for the trade in, the monthly cost is $350 (including taxes)

Now looking for inputs form the experts …

This is my first time leasing.

Regards

4

Looks like a good deal. It has such unusual numbers in it (18k and 3k negative equity) that it is hard to compare. But if the negative equity is 3.5k, then that accounts for 100 in the payment. Which means it comes to 250 a month without the negative equity. So I think good deal.

Is 1380 your drive off or you still need to pay extra for tax title and license and fees?

Have you tried just trading the car in to Carmax?

5

Thanks.

Without trading in my car the payment is 329. This includes the taxes.

1380 payment is includes taxes and title.

CarMax was giving me $4k. The dealership is giving $4.5k. so my negative equity is $2.5k

Thanks for the inputs.

6

Are you sure you only have $2.5k in negative equity? Why is the adjusted cap cost so high? Adding $2500 in neg equity and the acq fee is only around $3100-$3200. Where is the additional $1k coming from?

7

Hmmmm.

Let me take a different approach.

  1. What will be a good lease on 2017 SV with premium package with MSRP 30080 for 36 months and 12k miles per year.

  2. add $50 / month for extra 6k miles per year.

  3. add $70/month for the negative equity on my car.

  4. add 1+2+3 to get a reasonable price.

Thoughts on this approach?

And inputs on point 1. I searched the forum but did not see much info on 1, so any help will be great.

Thanks

8

Bump, any thoughts guys.

9

I don’t like the idea of driving a leased car for a year without bumper to bumper warranty. You will have to pay to fix anything the powertrain warranty does not cover. A slight risk, but a risk nonetheless.

Also, seems like a $1,300 discount is too small. Aim for a 10% discount ($3,000). That would bring your payment to around $350 per month and that seems not bad at all considering your trade and extra miles.