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Monday, November 3, 2008

Nissan to offer 0% Financing on Five Models + Special Maxima Lease

Amid reports that show Nissan halving its earnings forecast -- as well as hacking both production volume and workers - the Japanese automaker will take a cue from much of its competition and offer special financing and leasing options in an attempt to drum up business for the remainder of the year.

The offers include 0% factory financing for 36 months on Nissan's Altima, Rouge, Sentra, Versa, and Murano vehicles through January 5 in addition to lease rates of $199 per month for Altima and Rouge, and $339 per month for the all-new Maxima. Nissan will also introduce a budget-oriented version of its Versa compact sedan that will start at $9,990 - roughly $3,000 less than the current base-level Versa. The offers target the automaker's volume-leading sedans and crossovers.

Early this month, rival Japanese automaker Toyota announced it would offer 0% financing on 11 of its most popular models, while Honda announced 1.9% financing on its Civic loans up to 36 months, along with $189 per month lease rates on the same model.

Sales dropped 38 percent for Nissan last month, yet Nissan remains ahead of the industry curve for the year, with sales dropping just 3.3 percent compared to an industry average of 13 percent. Naturally, both financing and leasing offers are extended to those only with acceptable credit - given today's economy, this typically means a credit score in the Tier 1 level.

Source: Nissan