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Infiniti G37 Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi supernatural1. This is not a truck. In March Infiniti introduced a special program that lets current lessees of G35 Sedans out of their deals up to six months early if they finance or lease a new G35 Sedan through Infiniti Financial Services. If I was a current G35 lessees I would strongly consider taking advantage of this program.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Greetings evan7578. Infiniti Financial Services' current buy rate lease money factor and residual value for a 15 month lease of a 2007 Infiniti G35 Coupe with 15,000 miles per year are .00221 and 79%, respectively. IFS' 12,000 mile per year residual value for this term would be 1% higher.

    Car_man
    Host
    Prices Paid Forum
  • Car_man,

    This is the email i got from my dealer, G35S 6MT, with spoiler,i believe the sunroof as well. 34835. 39x15 4000 down 525, 24 mo 641. Is that a good rate ? are the money factor and residual % better this month compared to feb ?

    Thanks
  • What do you guys think:

    07 G35X (AWD) w/ Nav, Premium, Splash, Cargo Net

    489 per month 24 months / 15k Miles

    $2721 total out of pocket (includes cap reduction, all fees, 1st month etc)
  • 99rams99rams Posts: 19
    Hey Everyone, I have been reading this form for the past few weeks and im getting ready to step into a new car early i have not seen anyone with a similar question so i was hoping for some help:

    I am currently in a 24 month lease with NMAC on a 2005 Nissan Altima 3.5 that I paid 6000 out the door and 220 a month. As of right now I am 2000 miles over on the mileage and This lease is over in AUG of 2007. but I would really like to step into a 07G35 Journey with Premium and Nav. MSRP $37050.

    So here is my questions Do you guys think its possible to get out of this lease early with out paying any over mileage fee’s or “ending the lease early fee’s”?

    Also Does anyone have any idea of what I should be paying for a G35 journey with premium and nav. I would like to go with a 39/mo lease 15,000miles and we will go with a selling price on the car of $34378 (500 over invoice).

    I have not contacted any dealers as of yet I just wanted to get an idea 1st of what I should be looking for.
  • milsey2milsey2 Posts: 12
    What would a good number be (amount down and monthly pre tax payment) for the following:
    G35 4 door Journey with Premium - $35,340.00 MSRP
    39 month lease
    12K and also 15K per year if you have it.
    Thank you
  • I am considering leasing a 2007 G35 sport 4dr Sedan with sport, technology and nav packages. The price they are currently quoting is $38,390 although I will try to get that price lower. I have a trade in of a 2004 G35 which they will give allow 18,900 and it has a loan balance of $14,500. The rest of the paperwork reads
    Trade difference 19490
    doc fee 45
    tax 2834.58
    non tax fees 362.75
    net price 22,732.33
    trade payoff 14,500
    balance 37232.33

    With 0 down the payment for a 36 mo 15k lease is $618.

    This doesn't seem like a good deal to me. I have never leased before and am quite confused. The dealership is located in northern california. Can you help?
  • sprinkler13sprinkler13 Posts: 435
    Yeah...something doesn't seem right. So you owe 14.5k on your current vehicle and they are going to give you 18.9 for it? That is roughly 4,400 in EQUITY that you have. If so, that is significant towards a new vehicle. Did they tell you what the money factor is, and what the residual on the new car will be? See if you can get those exact numbers and then also what they are charging you for down payment (i.e., how much is getting rolled into the lease). Just because they say 0 down doesn't mean they aren't charging you somewhere ;)
  • gee3fivegee3five Posts: 2
    I just signed a deal at a NY dealership for a 2007 G35x (AWD) Sedan w/ moonroof (but NOT premium package) for 39 months, 10k miles/year:
    $2669 out of pocket (bank fee, 1st mo. payment, tax, title and registration, security deposit WAIVED)
    $439/mo (based on selling price/gross cap cost of $34,134)

    I am pretty sure I got a really good deal but I would like some opinions...thnx
  • urirx98urirx98 Posts: 32
    I just leased pretty much the same car, but mine included mudflaps and tire package, msrp 37600 i think and with 12k miles it was 560 with 500 Out of pocket. THat included a 600 dollars to make my last payment of my former lease. This deal was based on 525 with 1300 out of pocket, then rolling the 800 of that into the payment. This is with tax included aswell. Hope that helps. THis is in florida, and tax is 6.5% aswell.
    wg
  • 99rams99rams Posts: 19
    It does Thanks, Sounds like the dealers charges for any missed months. Was your previous car a Nissan?
    -Gary
  • urirx98urirx98 Posts: 32
    I am returning a 03 Acura MDX, but i had leased nissan before, drove a 89 maxima, then a 98 maxima, then my parents leased a 2002, now they have a 04 G35x.
    wg
  • 99rams99rams Posts: 19
    Hey Car_man
    Question for you or anyone that under stands that "car lease Calculator (http://www.leaseguide.com/calc.htm)

    I have inputting some info on a 2007 G35Journey With Premium and Nav. Here's the month payment i came up with, Wanted to know if this sounds right to you? Or if this was way off maybe you could give me some advice or what my payment should be. Thanks Gary

    MSRP $37030
    Base Cap Cost $34378 ($500 over invoice)
    Costs Added to Lease $0
    Cap Cost Reductions $3000
    Adjusted Cap Cost $31378
    Residual Value 57%
    Money Factor .00196
    Term (months) 36
    Sales Tax 7% NJ
    Monthly Lease payment including sales tax: $415.35
  • sprinkler13sprinkler13 Posts: 435
    What is your total out of pocket at signing? Just the 3k? If so, you should find out what amount of the 3k goes to cap reduction and what goes to closing costs. If all of the 3k is for cap reduction, you are better off putting that towards extra security deposits. 3k should get you 5 extra security deposits I believe. By putting down extra security deposits you will be able to lower the money factor by .0001 for each security deposit. This will make your monthly payment a bit higher since you aren't reducing the cap cost as much, HOWEVER, those security deposits are refundable at the end of the lease, so in the end you will actually end up paying less since you get back 3k. Carman will tell you you should never put anything extra towards cap reduction. Good luck!
  • 99rams99rams Posts: 19
    Yea, the $3000 was out the door. I was just running some numbers threw the Car lease Calculator just to get an idea of what i should be trying to get when i hit the dealers.

    But thanks for the Info i was not aware of the security deposit getting a refund on that.
  • e325rkhe325rkh Posts: 40
    Hello Car_man

    Here is the deal I received:

    2007 G35X Premium / Nav / Tech / Wood

    MSRP $40640
    Base Cap Cost $37088
    Costs Added to Lease $0
    Cap Cost Reduction $2662
    Residual Value 56%
    Money Factor .00211
    Term (months) 39
    15K/ year
    Sales Tax 8.625%

    Monthly Lease payment: $419
    $5300 total out of pocket (including taxes and cap cost reduction).

    What do you think?
  • 99rams99rams Posts: 19
    Is that a deal you received from a dealer?
    I been getting alerts to my work email when a new post comes in so i took a look at your post I know you were looking for advice from the host but something didn’t seem right on that MSRP of $40,640. If I go to infinity’s website and price out that car the msrp comes to 40,450.00… So it could of just been a typing error but just making you aware if the dealer was trying to pull something.

    PS. The month payment seems really nice, just wish you didn’t have to put so much down
  • e325rkhe325rkh Posts: 40
    Yes, I received this deal in writing from Competition Infiniti as well as Circle Infiniti. You are correct - when I worked out the MSRP it came to $40,450. I didn't question their typing error as it went in my favor.

    This is my 1st lease.
  • sprinkler13sprinkler13 Posts: 435
    Ok...so I plugged in your numbers and here is what it appears like they are doing. Sorry...I am bored at work, so this will likely be lengthly :)

    The cap cost they are quoting you is good...it's basically invoice. However, they are basically making up for it by having you pay an EXTREMELY high down payment. Here are my calculations and while they won't be exact since I don't have all of your specifics, I think that I can come up with a scenario that makes sense based on my recent lease and knowledge of what they actually charged me for closing costs (at least in CA).

    The closing costs should only be (my actuals in BOLD): 1st month payment, registration (320), doc fee (45), and upfront taxes (50). Now, different states have different fees and registration can certainly be different, but those are the basics. There is also a standard $595 dealer fee which personally, I choose to pay upfront so that it doesn't get financed in the lease.

    That being said, lets use the example where you didn't pay the dealer fee and just paid the closing costs of around $830. That would leave 4470 for the dealer to put towards offsetting his "invoice" pricing. I cut and pasted from my own spreadsheet below to show you how it calculates...and my spreadsheet calculates things exactly the same as the dealerships.

    Lease Payment
    Cap Cost $37,088.00
    Acquisition Fee $595.00
    Total Cost $37,683.00
    Down Payment $4,470.00
    Trade-in $0.00
    Total Cap Red.$4,470.00
    Amt Financed $33,213.00
    Money Factor 0.210%
    MSRP $40,640.00
    Residual $22,758.40
    Residual, Percent 56.00%
    Term, Months 39
    Sales Tax 8.65%
    Monthly Depreciation $268.07
    Monthly Money Cost $117.54
    Lease Payment $385.61
    Sales Tax $33.35
    Total Payment $418.96
    Upfront costs
    Number of Deposits 0
    Deposit $0.00
    Bank/Doc Fees $45.00
    Upfront Tax $50.00
    Dealer Fee $0.00
    License & Registration $320.00
    Drive0ff $5,303.96 (1st month, bank/doc fees, registration, cap reduction)

    As you can see, my spreadsheet pretty much mirrors your quote +/- a couple of bucks. If I were to re-calculate with only 2662 towards cap reduction and the rest towards closing costs, your monthly payment would be higher, so I'm pretty sure that this is how they are breaking it down.

    Now...as any of the regulars will tell you, you should never put money towards cap reduction. If you are willing to fork over that much upfront, you should instead apply it towards extra security deposit payments which are REFUNDABLE at the end of the lease. Your monthly payment will be higher, but when you figure that you will get a large chunk back at the end of the lease you actually will pay less. Each addl. deposit ($600 ea.) will reduce the MF by .0001, and you can put down a maximum of 9 addl. deposits. If you put down say 7 extra deposits, your monthly payment will be $507 per month (incl. tax) but remember that you will get $4200 back at the end of the lease! Another thing I'd think about is just doing a standard 36 month lease. 39 months always seem better because the payment might be lower, but the MF and residuals aren't always better, you are on the hook for 3 addl. months, and you will end up paying a full years registration and only use it for 3 months. The best 36 mo/15k rates for the X in March are .00175 and 57% residual. Here is what it looks like with the 36 month numbers:

    Cap Cost $37,088.00
    Acquisition Fee $595.00
    Total Cost $37,683.00
    Down Payment $4,470.00
    Trade-in $0.00
    Total Cap Reduction $4,470.00
    Amt Financed $33,213.00
    Money Factor 0.175%
    MSRP $40,640.00
    Residual $23,164.80
    Residual, Percent 57.00%
    Term, Months 36
    Sales Tax 8.65%
    Monthly Depreciation $279.12
    Monthly Money Cost $98.66
    Lease Payment $377.78
    Sales Tax $32.68
    Total Payment $410.46
    Upfront costs
    Number of Deposits 0
    Deposit $0.00
    Bank/Doc Fees $45.00
    Upfront Tax $50.00
    Dealer Fee $0.00
    License & Registration $320.00
    Drive0ff $5,295.46

    This would give you essentially give you a lower monthly payment, AND you'd be responsible for 3 months FEWER payments.

    And here is the same 36 month lease with the minimum out of pocket and paying the dealer fee upfront so that you are ONLY financing the Cap Cost.

    Cap Cost $37,088.00
    Acquisition Fee $0.00
    Total Cost $37,088.00
    Down Payment $0.00
    Trade-in $0.00
    Total Cap Red. $0.00
    Amt Financed $37,088.00
    Money Factor 0.175%
    MSRP $40,640.00
    Residual $23,164.80
    Residual, Percent 57.00%
    Term, Months 36
    Sales Tax 8.65%
    Monthly Depreciation $386.76
    Monthly Money Cost $105.44
    Lease Payment $492.20
    Sales Tax $42.58
    Total Payment $534.77
    Upfront costs
    Number of Deposits 0
    Deposit $0.00
    Bank/Doc Fees $45.00
    Upfront Tax $50.00
    Dealer Fee $595.00
    License & Registration $320.00
    Drive0ff $1,544.77

    Higher monthly payment, but you get to keep the money in the bank earning interest. Or put 6 addl security deposits ($3600 total) and reduce the payment to $495/mo. and get a $3600 refund at the end of the lease.

    So, IMO, the cap cost is excellent as it's just over invoice, but re-think the large cap cost reduction...that is just giving them money (profit). Sorry again for the long post :blush:
  • kp22kp22 Posts: 20
    I am currently leasing a 2004 G35x that is up in 6 months. I was contacted by my dealership about getting out early and getting into a new 2007 G35x lease. I decided to entertain the offer. I have only 22,000 miles on my 2004 G35x which is far less than what my lease called for. I could actually buy the car for $19,540 based on our agreed upon purchase price at the beginning of the deal and sell it for approximately $22,000. I am trying to use this against my dealership to get a better deal on the 2007 lease. Here are the latest numbers that we've discussed:

    MSRP - $37,740
    10,000 miles/year
    39 months
    Zero Cap Cost Reduction
    Out of Pocket: Required Closing Costs (approx - $2,000)

    Monthly Pmt: $400

    I get out of my current lease six months early. I am also considering reducing my term to 36 months since I learned in a previous post that I would end up paying for a year's worth of registration fees for only 3 months of use.

    Please let me know your thoughts. Thanks!
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