06MagneticZ

iTrader: (13)

Ok, so my gf is currently leasing a 2004 Maxima. She didnt get such a great deal to begin with. Now she is looking into a used 2007 Maxima priced at $21,000 with 17k miles. Her current pay off is $16,430 but her 04; Maxima is probably worth alot less than that. She currently pays $345 and is on a 60 month lease. Her residual is $10,300 What would you guys recommend? Reason for the swap is because her car is now out of warranty and since she bought the car it has probably only seen 3-4 oil changes....yes, I know...women She is looking to keep payments close to what she pays now, no more than $385 if possible. Any comments, ideas, tips....blah blah...anything is greatly appreciated. Oh and btw, she has "Excellent" credit according to Experian and Equifax, score of 735 I believe.

BluZee

She needs a big down payment to get her monthly payment that low. Even without the trade, $21,000 + TT&L is going to come out to more than $385/mo without any money down.

zeekle

you can only borrow 16k at 7% on 48 months (which is the longest I would on a used car) and have a $385 payment

She is going to need a good sized down payment.

06MagneticZ

iTrader: (13)

damn....ok. This sucks.

M_parallel

Things you might want to know, from your friendly Nissan internet manager:

The maxima she is looking at is likely a former rental car.
Assuming average condition she is $2500 buried, easily eaten up by year end rebates, but not likely to help get $385 payments on any lease.
You can purchase a brand new Maxima for about $23,000 if you have a hook up.
Very few lenders look at experian, and online score reports are often wrong. However, if she has paid well on her NMAC lease, she will be auto approved for a new loan.


From a purchasing standpoint, she needs to be looking at sentra-style cars for 60-72 month loan terms, or Nissan CPO (very important to get CPO or kmown history) in about the 15k range. If it's got to be another lease, the base 2008 pathfinder and 2007 murano are the ones to see.

06MagneticZ

iTrader: (13)

Wow, thats great info. Thanks alot. Actually I just found out the car is a former rental car like you said. Well, I guess she's stuck with that 04' Maxima.

davidv

iTrader: (2)

I never get involved in a woman's financial matters. But thanks for asking.

06MagneticZ

iTrader: (13)

lol....well when you have to deal with this everyday and the constant nag about how her car is falling apart, trust me you would do the same. I hear ya though. Besides, new car for her....means new toys for me too. We have to be fair now dont we?