The current coronavirus pandemic has us driving less, needless to say. So much so that an insurance company announced that it’s refunding millions worth of premiums to its customers earlier this year.
Nissan sees this, as well, and offers a new flexible way for its customers to lease a Sentra or an Altima until the end of this month. With a mileage allowance of just 10,000 miles, this new leasing option allows for a cheaper monthly leasing rate when compared to the usual options.
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How cheaper, you ask? Well, according to CarsDirect, the 2021 Nissan Altima is available to lease for $279 in 36 months with $2,599 due at signing in Southern California. That’s based on a 12,000 miles-a-year allowance. The new 10,000-mile-a-year option for the same car asks for $269 with $2,449 at signing. When computed, the new low-mileage option is $14 cheaper per month.
Yes, the savings isn’t too much, but when seen on an annual basis, you could save up to $168 – so long as you don’t exceed the 10,000-mile limit. As CarsDirect pointed out, the Altima has a $0.15-a-mile overage charge, which could mean an extra $300 a year if you reach 12,000 miles.
A low-mileage option increases the residual value of a car, which, in turn, allows for a cheaper lease rate. In this case, the difference could be a better value just as long as your conservative with your trips – something that isn’t hard to do these days given the current pandemic’s restrictive measures.
As mentioned, Nissan’s low-mileage lease option for the Sentra and Altima sedans, along with other Nissan offers, is only available until November 30, 2020. It’s yet to be seen if they will carry over next month, which will happen in a few days.