So I needed a second vehicle for commuting to work and I was debating whether to buy a cheap used car or finding a cheap lease.
I have been keeping an eye on used cars locally but unfortunately where I live the used car market is something I’d rather stay away from.
I had read about Nissan’s high residuals and decided the Frontier would fit the bill perfectly (for the right price)…
I work nights and on my way home there is a Nissan dealership so I decided to stop by and check their Frontier inventory. They had a decent selection but I was mainly looking for a crew cab in the S trim which is the base model.
I was looking for a 4x4 only because I knew they had a 99% residual. Unfortunately the only 4x4 S models they had were the smaller King cabs and that wasn’t gonna work for me. I did find an S model Crew cab but it was 4x2 so I busted out my handy dandy Rate Finder leasehackr calculator and found out the 4x2 is also 99% residual, sweet!
At that time the dealership was still closed so I went home.
After a couple of hours I send a text to my salesperson that I had talked to a couple of weeks prior. I let her know that I was still interested in leasing a frontier so she got back to me with some numbers. She somehow knew (without me telling her) which truck I was interested in. Lol
I didn’t like the numbers and told her I was looking to get 3% off. She asked me where I came up with that number so I sent her a screenshot of a competitor’s advertised discount on a similar truck.
There was a bit of push back from her, but by that time I was also talking to the other dealership about the advertised truck (2023 Frontier s 4x4). After going a bit back and forth with both they were both willing to give me the same deal but I decided to go with the 4x2 because I prefer the color of that truck and of course because of the lower MSRP = lower payment
I did encounter a little bit of funny business at the dealership when they first showed me the numbers, I let them know that I wasn’t playing games and had already discussed everything via text. At that point I was ready to walk out but the sales guy said, “Oh, sorry sir I forgot to put in the 3% discount.”
Anyhow here’s the numbers:
Due At Signing Including taxes, fees, and any security deposit.: $261
Term: 18 months
Mileage: 10,000 miles / year
Effectively Total cost of lease divided by the total number of months, after accounting for all rebates and incentives.
Leasehackr Score Number of years it takes for the effective monthly payment to reach the MSRP. The higher the score, the better the deal.
Purchase Price: $32,941 (3% off MSRP)
Residual Value: $33,620 (99%)
Money Factor: 0.00334 (8.02% APR)
I forgot to mention the truck did have a few options:
I could’ve easily done without the carpeted floor mats since the truck came with all weather floor mats and the step rails are useless with a truck this height.