Question - manufacturer lease deals?

Question

I'm looking at a Nissan Altima Coupe. Nissan has a deal on the 2008 Altima Coupe 2.5S CVT for $259/month with a $3000 cap cost reduction. Sounds good so far except I want to upgrade to the premium package which adds leather, moonroof, Bose audio, power seats, bluetooth etc. The upgrade is about $5000.

My question: The leasing cost on the base model comes out to about $13 per $1000 financed. Would I just add the cost of financing the additional $5000 on to the lease deal of $259 per month or would this optionally equpped vehicle now be ineligible for the special rate?

Answer 1

Manufacturer lease deals are usually genuinely good deals -- if you like the specific model being promoted, if you have good credit, if you have the money for the down payment. The deals are based on good discounted prices, low money factor, and/or high residual values.

Since the reason for the deal is that the car maker wants to help move a slow selling model, any other models or option packages are usually not part of the deal.

You can't just add the extra cost per $1000 financed in a lease because 1) the extra cost causes the residual value to change, and 2) not all optional equipment is "residualized."  Furthermore, lease calculations are not calculated like loan payments, which makes it impossible to use the "$ per $1000" approach. Here's an article that explains it in more detail:

http://www.leaseguide.com/lease08.htm