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Infiniti G37 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello spk55. The money factors that you were quoted for this car are right in line with Infiniti Financial Services' current buy rates for it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Sam. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 G37X Sedan with 12,000 miles per year are .00209 and 58%, respectively. The numbers for an otherwise identical 39 month lease are .00229 and 57%. This car's 10,000 mile per year residual values are 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi John. $1,000 under dealer invoice (which is really right at invoice once the $1,000 cash incentive that is available on this car is taken into account) is a very good price. The money factor that you were quoted is right in line with Infiniti's buy rate for this model. If you like the car, I don't see any reason not to go for it. This is a good deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I sure do, bman33. Here you go. Infiniti Financial Services' current buy rate lease money factor and residual value for a 39 month lease of a 2008 G35X Sedan with 15,000 miles per year are .00052 and 49%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, marker70. IFS' current buy rate lease money factor and residual value for a 36 month lease of a 2009 G37X Sedan with 10,000 miles per year are .00209 and 59%, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • sam_ksam_k Posts: 113
    Thanks Car_man.

    Comparing the February and March IFS lease terms on a 2009 G37x for a 39 month 12k miles/year lease, the money factor came down slightly from .00244 to .00229 and the residual dropped from 58% to 57%. I ran some numbers through a lease calculator and if you had gotten the same exact 2009 G37x sedan for the same cap cost (i.e. negotiated price), the monthly payment would almost be identical. I have one month left on my lease extension with IFS on my 2006 M45 Sport so I'm going to wait until April to see if they keep the residual percentage the same and drop the money factor a little more. At least that's what I'm hoping they'll do. I'll bother you for the April lease terms in a couple of weeks.
  • johninnjjohninnj Posts: 243
    I HIGLY prefer the lower mf and resid, given a similar payment. Bought into the high-residual lease on a TL...at the end of the term, there was no mathematical choice but to give it back. I prefer my $ go toward the value of the vehicle and not the bank. There will be a lot of used 07Xs popping up soon as their resid was pretty high (Too high, IMO) back when I got my S.
  • futureddsfuturedds Posts: 11
    Guys i went to Kings infiniti on Neptune avenue, the prices are insane. I bought my G35X at Infiniti of Manhattan. They can give a better price,i know that from my experience. Just go and compare prices.
  • sam_ksam_k Posts: 113
    johninnj, that makes a lot of sense. I never really thought about it because I've always turned in cars at the end of the lease, mostly because I always wanted something new but also because the lease end purchase price was always too high. I'm really hoping they drop the money factor in April.
  • lch77lch77 Posts: 53
    Flemington (NJ) Infiniti is advertising a G37X with an MSRP of $39,175 (premium but no Nav) for $34,950 (inc $2,000 rebate). If you put those price into a lease calculator using the Car Man's 58% residual and .00209 MF, you'll get $460 per month (without tax). i'll bet they won't give you the rebate and these rates on a lease but it's a good place to start.
  • sam_ksam_k Posts: 113
    I believe the $2,000 rebate only applies to purchases not leases.

    Also, your montly payment is usually lower with a 39 month lease than a 36 month. If you take the same MSRP and cap cost (i.e. negotiated price) and run it through a lease calculator with both the 36 and 39 month money factors and residual percentages, you'll usually find a lower payment with the 39 month lease even if the money factor is slightly higher on the 39 month lease.

    Just as a reminder so people don't have to look back, the March lease terms for a 2009 G37x on 36 month 12k miles/year lease are .00209 money factor and 58% residual percentage. The numbers for an otherwise identical 39 month lease are .00229 and 57%.
  • Just went to a car dealer today in Florida.

    Invoice for G37 Coupe with sport, premium, nav, incl. destination is $40.952.

    The MF for the coupe seems much worse than for the sedan though (0.00279 vs 0.00209 which equates to 6.7% interest vs. 5.0% interest).

    36 month lease residual is at 60% vs 39 month residual at 57%.

    There seem to be March incentives for customers (loyalty) of $500 and dealers of $2,000 floating around.

    Can someone verify or point out where/how to get a better deal? The dealer mentioned to stay put for a few more weeks until better incentives are coming out.

    Any thoughts?

    Thanks.
  • sam_ksam_k Posts: 113
    I'm waiting until April to see what promotions come out on the 2009s. I think most of the 2008s will be gone by then so I'm hoping they give more incentives on the 2009s in April. The 3% higher residual on the 36 month lease is very strange. Usually it's only 1% difference. Is the money factor identical for both the 36 and 39 month leases? That would be strange too. Usually they have different money factors. If the money factor is the same, then the 36 month monthly payment should be cheaper based on the 3% higher residual value but I haven't run the numbers to confirm. It's possible that the money factor on the 39 month lease could be lower to make up for the lower residual percentage.

    I don't think you can get the $2000 rebate on leases but maybe Car_man or one of the other hosts can confirm.
  • The residuals and MF I got from the dealer and from another website. But if someone has different ones, I'd be curious to know. At least my initial check seemed to indicate that the dealer was not screwing me around.

    I ran the numbers, and the 39 month lease comes out a few dollars cheaper.
  • sam_ksam_k Posts: 113
    Was the money factor of .00279 the same for both the 36 and 39 month leases? You didn't mention it in your original post.
  • Yes, according to my sources (dealer, website) the MF was the same for both 36 and 39 months.
  • kingpcgeekkingpcgeek Posts: 985
    I don't think you can get the $2000 rebate on leases but maybe Car_man or one of the other hosts can confirm.
    Been posted here ad infinitum. The $2000(sedan)/$1000(coupe) dealer cash (its not a rebate) is not available with a lease or any special financing rates.
  • lauraloolauraloo Posts: 1
    Help! I currently have a 2004 G35 coupe, 40k, premium & sport packages, excellent condition. I'm looking to lease a new 2008 G37 Journey w/premium package. I have no experience with leasing and getting more confused the more I read. I talked with a sales person and here is what he gave me for ballpark figures. Offer 1) Trade in current car, no additional money down, taxes, 1st month payment, license, acquisition fee and payoff current loan of $9000, $400/month for 39 months. Offer 2) Trade in current car and get $2300 cash in hand back, no additional money down, taxes, 1st month payment, license, acquisition fee and payoff current loan of $9000, $460/month for 39 months. He also mentioned that I was getting a $2000 Infiniti loyalty discount. Nothing was said about destination charge, disposition fee, money factor or cap cost. When I asked about payoff at the end of my lease he said that was between me and Infiniti. Does this sound like a good deal to you OR do I need to nail him down on the additional fees were not mentioned like money factor? Are there other fees that I'm not aware of that I should be asking about?
  • Hi fireboy379

    If you don't mind can you please let us all know when you pick up the car...i dealt with Kings Infiniti in october 2008 when I was going to pick up my car from them and they also gave me an amazing deal and I also left $500 and a signed contract. Long story short when I came to pick up the car they completely changed the deal and stated that the sales man screwed up and that the manager signed without double checking the deal...basically a lot of [non-permissible content removed]...I am very interested if they have chanegd there ways since I filed a complaint everywhere I can think of.

    thanks and good luck
    p.s. dont let boris the finance guy push you around.
  • Thanks carexpert08 for the heads up. I am picking up the car next Saturday. I will let you know then how it goes. And I will avoid Boris. Thanks again.
  • nycdudenycdude Posts: 33
    Carexpert08 offers excellent advice. I had almost exactly the same experience over thirty years ago with a Chrysler dealer who tried to tack on additional charges at delivery. I told him I would hold him to the contract and when he claimed he "couldn't do it," told him to shove the car and that I would complaint to NYC Consumer Affairs. The G.M. called me the next day and they honored the deal. Afterward, I was told by a couple of friends in the auto business that this is a common tactic. They figure that you are so excited to be picking up your new car that you'll accept their thievery.

    P.S. I've leased two cars from Manhattan Infiniti and found them to be honorable. I didn't shop though, to see if they were offering the best deal.
  • johninnjjohninnj Posts: 243
    No brainer (At least on the math).
    They are willing to loan you 2300 for 60 per month which seems to be about 1.1% interest. Cash flow, and cap-cost reduction in the event of a total loss aside, 1.1% is great. Go toss it in a 3 yr cd and net a tiny bit, or just pay off any current debts. Not sure on tax implications...but the choice to me would be simple.
  • kahnja50kahnja50 Posts: 1
    If you are serious about getting rid of your 2004 G35 coupe, I would be interested. You will get less as a trade-in, in fact much less b/c you will think you are getting something when you are not. What state are you in with the vehicle?
  • carexpert08,
    You were 100% correct. I went to pick up the car today and sat down with Boris. He asked how I was going to pay the taxes. When I explained that the taxes were included in the $515 monthly payment he said I was wrong. Of course the salesman didn't back me up. I will never go back to that place again. Let me know where you filed your complaint against Kings Infiniti. I have never been so outraged with a dealership!
  • I am picking my g37x in 2 weeks, but i got an offer to lease that states how much I owe when i pick up the car, did you guys not get that?

    I'm getting a bad feeling.

    :sick:
  • cavok99cavok99 Posts: 3
    I was offered this by a dealership a few months ago but declined since the momey factor changes by month. I finally gave up on the lease a few days ago and bought a coupe using the 1.9%. I paid invoice for a 2009 G37X.
  • ildarad0ildarad0 Posts: 24
    i had very bad experience with the Kings Nissan. thank God I walked away from them. it was 2 years ago. I complaint here on this forum, however i did not realized i could not mention names. so couple days later my posting was removed. it looks like yours is still here. I would walk away from this Russian scam the same as i did and go with this offer to different dealership they will match it or even give you a little discount.
  • The contract I had stated "$1,250 down" this was the first month, bank fee etc., and "$515 per month." The dealer claimed that if the taxes were included in the monthly, they would have writen it in the contract or had "$1,250 out of pocket." It was a scam. The dealer knew from the start I wanted the taxes rolled into the monthly payments
  • Flemington NJ Infiniti will jerk you around. I went there once and they had the papers ready for me when I said I was just coming into look. The Sales manager looked like he was going to punch me in the face when I said, 'I specifically said I was coming into look and not buy since my other lease ended in a month plus'. Highly recommend not dealing with them extremely unprofessional. Manager and Sales rep argued with each other before they brought out those papers about something else... loud enough that I and a few other customers could hear.
  • sam_ksam_k Posts: 113
    I agree with johninnj. Definitely don't use any equity that you built up in your 2004 G35 coupe as a down payment on the lease. You never want to put any money down on a lease including the taxes because if the car is totalled or stolen, you don't get of that money back. With a lease, the leasing company is the owner of record, not you so your insurance company will pay off the leasing company what is owed on the car. When you buy it's a different story because the insurance company will write you a check for the value of the car.

    That being said, it sounds like you're getting $11,300 ($9000 loan payoff + $2300 cash) for your 2004 G35 coupe. Is that what the car is worth as a trade in? You need to confirm that first.

    Then after that you need to verify the numbers going into the lease of the 2008 G37 so you can figure out if you got a good deal or not. You basically need 6 numbers to calculate your own lease payment, the MSRP of the car, the negotiated price (i.e. cap cost), length of the lease, money factor, residual percentage (i.e. what the car is worth at the end of the lease) and the tax rate. You should already know the length of the lease and the tax rate where you live. You'll see people on here ask for the money factor and residual percentage for specific lease terms (i.e. 39 months 12K miles per year, etc) on this forum because sometimes dealers are reluctant to give you that information. The money factor (i.e. interest rate) is usually tied to the length of the lease and the residual percentage is tied to the mileage allowance (i.e. 10K or 12K or 15K miles per year). To determine the residual value at the end of the lease you multiply the MSRP by the residual percentage. The MSRP you can get from the window sticker or from Edmunds and the negotiated price is whatever you negotiate with the dealer. Then you can use the lease calculator on Edmunds or on other websites to calculate the lease payment. The lease calculator on Edmunds might want other numbers to do the calulation but none of them are needed to calculate the payment for a no money down lease except any loyalty cash that Infiniti gives you towards the lease that will be treated as a down payment (i.e. cap cost reduction).

    If you haven't read Edmunds article on "10 Steps to Leasing a New Car", you should definitely read it. Here's a link.

    http://www.edmunds.com/advice/leasing/articles/78385/article.html
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