Nissan's Signature Financing

[SDRonEbay]

Okay folks, let's do a quick rundown on Signature Financing (leasing).

I'm gonna present this to you the way I would any customer and you tell me what you think:

I've got a customer looking at a 2004 Altima 3.5 SE...MSRP is about $25,000. They are making an intial investment of about $5000 so they selling price is about $20000.

On a Conventional Finance they'd be looking at about $420 payments on a 60 month term. Halfway through this term, say 30 months, they've still got about $12600 left to pay. This customer now has three options. They can trade, sell or keep. Now assuming that the vehicle is worth $12700 they're in okay shape if they trade it or sell it and in no worse shape if they keep it. By this time you can assume they'd have 40-80,000 miles on the vehicle. Maintenance issues are coming up so they're paying roughly $50 a month on that. If it's their choice for conventional finance, I would suggest an extended service agreement.

Now, same customer, same car on the Signature plan. Their payments are about $380 per month for 30 months. At the end of their term their payoff is $11600. Now they still have three options. If they trade and their vehicle is worth $12700, they're $900 better off than is they were in a conventional finance. If they want to sell it they would probably have about the same luck and if they keep it they're $900 closer to owning it. Now they have a fourth option as well....they have protection against abnormal depreciation. Just turn it in.

Now...I'm not a smart man but I know what's best for my budget. If I wanted to pay less monthly and still have equity at the end of my term when I'm ready for something newer, I would probably go with the Signature Plan. It benefits people who have a short trade cycle, it benefits people who use their vehicle for work, it benefits the people who drive alot of miles most. You can have extra mileage built into your lease at 10 cents a mile. When you add that up you have a much greater chance of being more upside down on a conventional finance than 10 cents a mile.

Take this and run with it people. Leasing is not a bad thing, m'kay.

[Repo Man]

Preach it brother! Just be sure to maintain your leased car. It's not a damned rental.

[SDRonEbay]

Good looking out man.

DON'T DOG YOUR CAR! This only works if you are responsible enough to maintain the vehicle. If you're like the people around me you'd rather your house burn than to let something happen to your car and if it does you'll fix your car and get a room at the Holiday Inn.

[NEED4BOOST]

Jayson You are the first to mention something about the Signature plan. I have been looking at the Titans as a replacement for my Ram 1500. I was thinking of trading in my truck for the new ones (of course lease, better for me). Neither of the 2 dealers mentioned it to me (the Nissan Sig Plan).

I really want to know more about it. I would really like to see myself in a new Titan rather than a New Ram. I like both but it might look "cooler" towing the Nissan track monster with a Nissan Titan

[SDRonEbay]

Need,

You're the reason I'm here, because customers like you aren't being served properly. It ticks me off.

Along with the info up top, here are a few things you need to know:

1. The Signature Plan is good for three of the four tiers of NMAC credit and your payments would be essentially the same on all three. If you fall under tier 4 or below you don't qualify.

2. If you are currently upside down, there is a good chance your payments would be a little higher on the lease than they would on conventional payments. Now this isn't as bad as it sounds because if you can live 3 or 4 years with the higher payments you will pay off that negative equity completely and you'll never see it again; unlike trading negative equity from one loan to another.

3. Your first payment is due at the time of signup. True, you could roll in your first payment along with deposit and fees but why not start on it immediately?

4. When billing in extra miles, try to give yourself enough room to work with. Don't bill the miles by the skin of your teeth because you never know when we're gonna have a major NICO convention and you'll have to drive an extra 1000 miles to get there.

5. Find out how your insurance handles leased vehicles.

6.If you plan to accessorize keep up with your stock parts and don't drill too many holes.

I hope I've answered some questions for you. You should feel free to call the Nissan dealer in your area and ask to speak to a Finance Manager about the Signature Plan. Salespeople who don't suggest it to everybody are usually uneducated about it. I personally think that a lease is the absolute best way to buy a car. Now if only we could figure out a Signature Plan for marriage.

Have fun, man and good luck.

Jay

P.S. - If your not in Cali, I could probably still get you one. Hey, I am a professional salesman.

[NEED4BOOST]

Jayson,

I appreciate your professionalism! I also appreciate your post. You've filled in a lot of the blanks that I was left with. I honestly didn't even assume that nissan offered any special financing. Man I wish you weren't on the other side of the country. If you were somewhere in the middle or closer I would buy a one way plane ticket and come pick up a new Titan for myself.

As far as my current truck, I pay more than what my actual payments are. I've checked what book value is with the necessary deductions and my payoff on my loan is about $3300. I try to keep my head as high above the water as possible.

But when I'm ready to jump on the Titan, I will definitely let you know what exactly I've been told, or what is being negotiated.

Thanks a lot Jayson!

-Safa

[SDRonEbay]

It's no problem. Just let me know how it goes and if you have any doubts about your deal let me know. I will be glad to help you out with the negotiating part as well.

[NEED4BOOST]

Thanks a lot Jayson!

[SDRonEbay]

I just want to bump this. I had an hour long conversation with a stranger about the beauty of leasing. I convinced him.