Are some incentives only for financing a car instead of leasing a car? True Car told me a Nissan Altima SL in my area is about $22,000. Breakdown Below:
MSRP:
$30,390
Dealer Discount - $4,640
2016 Nissan Altima Regional Customer Cash Back - $500
2016 Nissan Altima Customer Cash Back - $1,750
2016 Nissan Altima SL Bonus Cash - $1,500 Located in NJ
I reached out to the dealer from True Car to get a lease at this price and he gave me the below numbers:
Altima SL MSRP $33500.00 lease
$299 36 months 12K per year
$319 36 months 15K per year
$339 36 months 18K per year mo. Res.49% money factor is 0.000030
This seams very high to me. He told me those incentives/rebates are only for cars that are financed not leased. Can anyone tell me if this is true? When I questioned him the dealer said since I didn’t qualify for discounts (since I’m leasing) the best price they can do was $27,500. At this best price wouldn’t I be eligible for a $3,350 Bonus Cash Discount from Nissan Financing? Here is the link: http://www.edmunds.com/nissan/altima/2016/st-401598147/deals/
Any advice on getting the dealer to match their true car price? I know this is a long post but any help is greatly appreciated!
The answer is - Yes - most manufacturers are offering cash incentives on the purchase of the car or cash incentives for lease, but not both. If you look at the same link you provided, under Lease incentives you will see "Leasing Bonus Cash $1,650+"
I’d take a look at Kia Optima hybrid, Volvo S60, Fusion Energy or 17 Volt. You can probably get a better deal and drive more of the car that way?
Three questions/ points I’m still confused about. Please help me understand the following:
Price on True Car MSRP is $30,360
Less Certified Dealer MSRP Discount of $5,496 (This does not include any incentives or rebates, those are separate line item(s). Gives me a sale price of $24,864
Using the above plus money factor of .00003 and 49% residual at 15k miles a year that gives me payments of $316. The dealer quoted me $319 on 15 k a year which is higher!
Wouldn’t the bonus cash come in to play? Shouldn’t I be eligible for it? What would the reason I would not be eligible for it? It specifically says leasing bonus cash $3,350.
Here is the link again: http://www.edmunds.com/nissan/altima/2016/st-401598147/deals/
Assuming the first sale price less the lease incentive of $3,350 that gives me a new sales price of $21,514. Plugging in the same residual and money factor as above it gives me a price of $216 per month. I would do 18k miles per year instead of 15k. If I can receive this incentive (I don’t see why I wouldn’t be eligible for it) is it safe to say a lease for 36/ 18k would be around $250 a month?
