Guys I need some advice. My base DB is coming in next Tuesday and I've decide to lease. Well today I took a trip to the dealership to get started on my paperwork and this is the info they gave me.

With $700 down
+ 1st payment $591.95
+Security Deposit $600
+ Doc and Plates $194.44

$2086.39 due at signing

They gave me that $591.95 for 36 months and also offered me $558.17 for 39 months. Are these numbers accurate??? It seems if I take aout a 30k loan at about %6 or so, my monthly payments would be a little under $600. In this case it seems like a waste to lease. I just applied for a PeopleFirst loan just in case I can't lease.

Joe

 

Assuming they are doing a NMAC lease which has the following parameters:

36 Mo.:
Money Factor: .0028 (6.72%)
Residual: 57%

39 Mo.:
Money Factor .0028 (6.72%)
Residual: 56%

Those numbers seems a little bit on the high side. The payment amounts would be about right if you were getting a Touring, but a little high for a Base model. Ask them about the actual capitalization amount and see what kind of fees etc. they may be tagging on.

 

I also live in Illinois and I read that instead of paying our taxes the normal way when leasing, everything is paid upfront.

 

I would always buy this car. The reason is that the residual value should remain very high. You'll be better off buying this car and trading it in for a new one in the future.

 

If you are leasing through Nissan, is the money factor always going to be 0.0028 or is it possibel they would raise it based on your credit?

-Joe

 

BacktotheZ - Residual is only if you are leasing the car. There is no residual value to the car if you buy it. You are getting a loan or paying in cash the entire value of the car. Not just a portion when you lease. When you buy the car you will end up with Trade-in or retail values. Which of course is based on many, many variables. You can never assume this value will remain high. You don't know if the car is going to be in an accident or get abused and look horrible on the outside in 3 or so years.


Money factors do change with credit tiers - you should always check yours before applying for any type of large credit to make sure you are getting the best rate and to see if there are any mistakes on your history. Protect your credit rating like you protect your new Z.

Residuals on this car are based on ALG guides in most cases which are usually pretty accurate because banks and leasing companies are not in leasing to lose money.