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Infiniti G37 Lease Questions

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Comments

  • dwynnedwynne Posts: 4,018
    Look up the trade in value of your G and see if the current value exceeds the lease buyout price by a good bit. If it does, then try to find a local dealer that will buy it off of you for the lease buyout price.

    Otherwise, your only other choice is to pay the $300 for the repairs or fix the items yourself if you can do it for less. In either case you will have to pay the over miles charges.

    Dennis
  • gguy8gguy8 Posts: 19
    Hi Dennis,

    I finally pulled the trigger and leased a leftover 2007 G35x with 209 miles on it (Premium package, Navigation, Technology Package, Splash Guards, Cargo Mat) for 39 months/15,000 miles per year.
    Please let me know if I made a good deal.

    MSRP: $40,365

    Invoice: $36,827

    Cap Cost: $38,395.28 (36,555.25 + 919.74 in NJ taxes + 595 acquistion fee + 558 dealer installed wood trim - 232.71 cap cost reduction)

    Bank Residual: 55%

    Money Factor: 0.00199

    Monthly Payment: $535.83

    I paid the following up front:
    -doc fee for $189
    -registration fees for $351.70
    -NJ Tire fee for $7.50
    -first monthly payment of $535.83
    -my previous car trade in negative equity of $2267.09
    -cap cost reduction of $232.71

    What do you think, Dennis? Did I get a good deal? Thanks, and I look forward to your response.
  • dwynnedwynne Posts: 4,018
    I assume you wanted the dealer installed wood? They did not "residualize" it so you paid for that 100% .

    It looks like your price was $82 under invoice counting the car + dealer fee, so if all the other fees are OK that is a good price. You did have a trade which makes it impossible to KNOW how good a deal you got for sure. If they gave you a fair price on the trade (Edmunds, KBB, NADA, etc trade value) they you did OK. If they did not give you enough for your trade then your deal is not as good.

    The good news is that at the end of this lease you can either buy the car for $22,200 or just turn it in and get something else - no trade in worries.

    I would normally not advocate putting much down on a lease, for sure at 4.75% effective rate money factor, but most of your out of pocket stuff was paying off the trade in - it appears. $535 per month including taxes for a loaded up (fully loaded with tech pack) G sounds pretty decent to me.

    Enjoy your new car!

    Dennis
  • So after a month or so of doing research on the web and through various dealerships, I think I found a "great" deal. Here are the specs according to the numbers I know:

    2008 G35X ... Premium Package ... Navigation Package
    39 month lease
    10k/year mileage

    $449/month

    Out of Pocket:
    Destination - $715
    Acquisition/Dealer - $795
    First Month - $449
    DMV/Doc/Other fees ~ $200
    NY Taxes ~ $1600
    Total out of Pocket ~ $3759

    Total Amount Paid for 39 Month Lease - $20,820
    Total Amount Paid Per Month - $534

    I will be returning my leased 2004 G35 Coupe with about $420 in "excess damages" and about 2000 miles over, $300, and the dealership will cover the $220 above the $500 loyalty waiver for being a returning Infiniti customer.

    Any opinions / comments / tips are appreciated.
  • gguy8gguy8 Posts: 19
    Hi Dennis,

    Thanks for getting back to me. I think I made a pretty good deal, I was at the dealership for like 7 hours. I tried to get the dealership to negotiate the 2008 G for under invoice, but they wouldn't budge. So they offered me a left over 2007 with all the options I wanted at a much better money factor. Since both years are pretty much the same car, I decided to take that. The only thing it didn't have was the wood interior, so they said they would install it themselves.

    In regards to my trade in, I had a 2004 Saturn Ion 3 fully loaded with leather and everything. Edmunds says I should get between $7000-$8000 for a trade in ranging from average to clean. The Infiniti dealership told me they use a different system to come up with trade in values called Galves. The other dealerships I have been to quoted me from Galves as well. So they offered me $7000 + tax (same as Audi dealership I went to). I tried to get them to give me a little more, but since I had a rather large scuff mark and scratches on the rear bumper they wouldn't. I don't think the price they gave me was to off the mark, considering the large scratch. What do you think? I know it is a little late now, but should I have insisted on more for my trade-in. I, as always, look forward to your response. Thanks, again!
  • gguy8gguy8 Posts: 19
    Hi again Dennis,

    Sorry but forgot to mention my mileage on my previous car. It was around 43400 miles. Also, is it common for one to get a car under invoice, since the dealer is still making money with a $964 dealer holdback? Thanks.
  • dwynnedwynne Posts: 4,018
    On a high end car without dealer or rebate money, you normally are luck to get it around invoice and would hardly ever get one before invoice. Most dealers treat holdback as "untouchable" and will not deal down into it. There are exceptions, like when they really need to move something or on a left over prior model year car.

    When I was shopping for an 05 RX-8 I had one dealer offer me a left-over 04 for invoice less $2,500 dealer incentive less 100% of holdback and no fees. He literally (as far as anyone could tell) was selling me the car at $0 profit. I passed, since I got an 05 for $500 under invoice less $2,500 in rebates :D .

    I think we are getting to the point where "invoice" is so widely know thanks to the Internet that "invoice" is going to be (maybe already is in some cases) no longer the actual dealer's cost. In the past invoice less holdback less dealer incentives less customer rebates assigned to the dealer would be "cost". Then there would maybe some other money in it later. I think now if they sold to you at "invoice" with no doc fee they might still be making more than holdback. I have noticed on a lot of cars the difference between "invoice" and MSRP at getting pretty small - so I think they means "invoice" on those models is not really the true cost.

    On a left-over 07 car in November, I would expect invoice less any known dealer money would be a good price. They can't expect to get much more than that for a left-over car since you would just take an 08 for a bit more (and get the ipod adapter and other upgrades).

    Dennis
  • gguy8gguy8 Posts: 19
    Thanks again Dennis! I really appreciate your comments. Do any dealer incentives/dealer money actually exist for leftover 2007 Gs? I see no mention of any on the car websites. Also, do you think I got a good trade on my 2004 Saturn? Thanks, and I promise not to bug you with any more annoying questions!
  • dwynnedwynne Posts: 4,018
    Edmunds says $2,500 for left over coupes, but the Nissan page that has such things does not have that listed. I think this may be the "final buy down" on the cars - not a dealer incentive as such, just a $2,500 final mark down on the left over 07 coupes it is now up to the dealers to move them. I never saw any incentives on the 07 sedans, just discounted lease deals and discounted finance deals.

    I can't judge the value of a trade in over a message board (and probably could not even if I saw the car) :) . If you are honest it putting in the miles, options, and condition at Edmunds, KBB, and NADA (and any other site) and get the trade in values. If those compare favorably to what they gave you for your car, then I would assume you did OK. The dealers are always going to use their own "book" which 99 times out of 100 will be less than some online guide, but may be close. Often they never take into account any options, just take the entry in their book as is and only adjust the price down based on poor condition, high miles, or missing options like no auto tranny or no A/C . This is one of the reasons are car line like Honda retains better value since that have a few trim levels (e.g. DX, LX, EX, etc) and not individual options. The book for an Accord may have a line for DX, another for LX, and another for EX. The book for some other car may have a single line or a few trim levels but those cars can be loaded up with gobs of options - which you don't get "credit" for when trading in the car. On most Toyotas, like a Camry, they have trim lines but a lot of individual options. Like an 4-banger Camry SE is the trim line, but COULD come optional with upgraded stereo, stability control, several types of interior trim options (different cloth and more than one leather, wood, etc), moonroof, etc. If you have a car that has no individual options then the dealer's book is the same as one loaded up with non-essential options so you could loose 100% of the option value in a trade. With trim lines with no individual options (in a lot of cases) then ALL the Accords with the same package have all the same things so you get "full credit" for the options.

    The G has a few trim lines (base, sport, journey) so may have 3 entries in the dealer's book, but they probably will give you no credit for various individual options you might have purchased. To ME if I were buying a used car, one with the tech pack (for example) would be worth more to me than one without, to a dealer, probably not.

    Dennis
  • dwynnedwynne Posts: 4,018
    Also dealers like to say "wholesale to wholesale and retail to retail". If you want to buy or lease new car for "wholesale" (near dealer cost) then you can expect them to offer your "wholesale" (auction house value) for your trade in. If you are willing to pay retail/MSRP then (of course) they can give you full value/retail for your trade :D .

    Dennis
  • I finally pulled the trigger on a 2008 lease. 39 months 12K miles. I think I got a good deal but I would appreciate anyones input. Numbers are a little different than what I am seeing in posts. I think they might have toyed with the residual from 56% to 55%.

    A G35 Journey with Premium, Sports, Splash Guards, Trunk Mat, Trunk Net. MSRP price of $37,225

    Edmunds Lists Invoice on this car at $34007.

    I negotiated the following deal:

    Base Cap Cost: $34527
    Cap Reduction: $215
    Adjusted Cap Cost: $34312
    Residual Value: $20,474 (55%)
    Money Factor: .00203
    39 months, 12k miles

    Base Payment of $466.04
    FL Tax of $27.96

    Total Payment: $494.01

    Total Inceptions $1600 (214.91 cap reduction, 494.01 first payment, 175.00 registration fees, 12.89 tax on cap cost reduction, 3.99 sales tax, Florida Fees $68.50, $35.70 tax on acq. fee, $595 Aqu. Fee)

    Thanks to the forum for all the advice.
  • emmissemmiss Posts: 16
    As always, thank you Dennis for your dedication to this.

    http://i233.photobucket.com/albums/ee46/emmisbee/G-leaseRates.jpg

    image

    Please let me know if the graph is in error and I will attempt a correction.
  • Just Curious...Isn't the destination fee already factored in the MSRP price. Does this mean they charged the fee twice?
  • I just made a deal with an Infiniti dealer in NJ for the following:

    2008 G35x with premium package
    Monthly Payment 488.00 (Includes half my taxes - NY resident $19.64)
    Money out of pocket: $595 acq/ 1st months $488.00/2nd half of taxes $766.00/$249.00 doc fee/ $175.00 DMV) Total: $2,273.00 out of pocket

    Can anyone tell me if I got a good deal or did I get taken for a ride?

    I look forward to your responses.
  • dwynnedwynne Posts: 4,018
    No problem. We might want to make a residual percentage graph as well - or overlay that over the MF one.

    I think more instructive to the majority of folks would be to make a payment chart each month. It could be based on paying some figure (say $1k) over invoice for a base model of each trim line. That really is the bottom line to most folks. If you see the lower MF on your chart you can assume better payments, but if they lowered the residual percentage the net may be worse or the same. If we did a sample deal for each car each month and then charted that, then as soon as we had the new numbers we plug that into the sample and the new chart shows is instantly if this better or worse that the other months. Now having TIME to do this each month may be another story :D .

    Dennis
  • Hi mnoker. The dealer invoice price of the 2008 G35 Sedan that you are interested in is probably somewhere around $34,800. That puts the selling price that you were quoted for it at less than $500 over invoice, which is a very good deal.

    Infiniti Financial Services' lease program for this car varies by term and mileage allowance. for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. IFS' current buy rate lease money factor and residual for a 36 month lease of an '08 G35 Sedan with 15,000 miles per year are .00235 and 58%, respectively.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi 4rings. Infiniti's 39 month lease program for the 2008 G35 Sedan is slightly different than its 36 month program. IFS' current buy rate lease money factor and residual value for a 36 month lease of this car with 15,000 miles per year are .00235 and 58%, respectively. The numbers for an otherwise identical 39 month lease are .00245 and 56%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Greetings Don. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi polo10. Let me begin by saying that $4,800 is way too much money to put down when leasing. I always advise consumers not to make any capitalized cost reduction on leases. Those who make one risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. Even though your monthly payment will be a little higher, you would be better off going with a zero down lease.

    You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of these deals if you let me know what these numbers are.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Congratulations on getting your new G35, 96gator. The selling price that you were able to negotiate looks great to me. The money factor and residual value that were used to calculate your monthly payment look great, too. It looks like you got a very good deal on this car. Thanks for taking the time to stop back and share the details with everyone. Don't forget to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi erny845. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • What should be my estimated payment for a g35 journey with premium package with little to no money down with 15k miles on a 24 and 36 month lease? Please help. Thanks.
  • What should be my estimated payment for a g35 journey with premium package with little to no money down with 15k miles on a 24 and 36 month lease? Please help. Thanks.
  • rezafrezaf Posts: 5
    Hi All,

    I'm looking to lease a G35 Manual Sport, with Technology and Premium Package by Feb 1st. I am hoping to pay about $3,000 drive offs and $450 per month including tax and fees, I'm in the Los Angeles area. I'm looking for a 36 month lease with 15K per year.

    Also, someone told me the Money Factors and residuals are lower in December than they are in January, is that true? Because if its worth it I might go ahead and get hte car in December instead of January.

    Also, should I start emailing dealerships about getting the lowest price for the car I want? What should I do about starting to find a good price for a vehicle? Any help would be appriciated!

    Thanks for all your input!

    Reza
  • dwynnedwynne Posts: 4,018
    The higher the residual the lower the lease payment, the lower the residual the higher the payment.

    The higher the MF the higher the payment and the lower the MF the lower the payment.

    So if "someone" knew what they were talking about the two being lower could cancel out and net the same payment.

    Residuals normally drop throughout the model year, the highest being at the start of the model year and the lowest at the end. Of course, since IFS runs the lease show they can make them whatever they want whenever they want.

    The money factors are just made up by IFS. If sales are slow, they lower them to stimulate more leases. If sales are good and car supply is low, then they raise the MF since they have no need to make a deal.

    What the numbers will be next month or January? We have no idea and maybe at this point neither does IFS - they will look at the number of cars on hand and decide. Typically the 6mt and sport models do not have as low a MF and do have a lower residual - they don't make as many (very small percentage) so they never seem to have to need to push them. Normally a journey car is the best "buy".

    If you want tech (which means you have to have nav and premium) and almost every car will have splash guards and trunk net as POE installed non-options, then you are looking at a near $40k MSRP. Even if you purchased for invoice it is doubtful you payment would work out work out anywhere near $450 a month. I think CA taxes on the payment at 8.25% .

    Back in June when rates were cheap and residuals were decent, a similar car would have leased for around $513 per month with CA tax IF LEASED AT $300 OVER INVOICE. That would have been with $1k or so at signing, so $2k more would not have dropped it nearly enough to get to your price.

    Since right now the rates are a good bit higher and I would doubt you can get the car for $300 over invoice, then you will not even sniff a $4xx payment.

    Dennis
  • dchoidchoi Posts: 2
    Wondering if the following is a good deal for a 2008 g35x (premium and nav package) lease for 39 mths/15k miles?

    Any thoughts and/or comments would be appreciated!

    MSRP 39475
    INV 36169
    Total Cap Cost 37396
    Money factor .00237
    Residual Value 56%

    Monthly comes out to $533 (paying $2300 at signing for 1st month, taxes up front, and $595 bank fee). There is also an "acquisition fee" for $595. Is this fee negotiable? waivable?
  • dwynnedwynne Posts: 4,018
    Does your "total cap cost" reflect your negotiated price for the car? Or is that the price plus dealer fees, tax, etc?

    If the price - depending on what part of the country you live in, paying $1,227 over invoice for an x is a bit much. You don't say which state or what the tax rate is, but a net payment of $533 per month is so much due at signing does not sound very good either.

    The bank fee AKA lease acquisition fee is paid to the lease bank (IFS in most Infiniti leases) and can't be negotiated or waived.

    Dennis
  • dchoidchoi Posts: 2
    Dennis,
    Thanks so much for your reply. I am in NJ and the total cap cost is the negotiated selling price for the car plus $595 assignment fee. The amount due at signing is 7% NJ Tax, $595 bank fee and 1st month payment. The $1227 over invoice includes the $595 assignment fee.

    What I don't understand is why there is an $595 bank fee (that we are paying up front) and then another $595 assignment fee which ends up being included in our total cap cost.
  • shov8shov8 Posts: 87
    I maybe totally wrong, but my understanding is that the bank fee of $595 is from IFS and is required/non-negotiable. The other $595, the "assignment" fee, appears to be dealer padding to me (aka doc fee, prep fee, etc). Sounds way bogus.

    kc
  • dwynnedwynne Posts: 4,018
    The extra fee sounds like a rip-off to me. There is a $595 bank fee and that is it, plus any other local fees and taxes you might have to pay. I would ask the dealer to explain that one to you - if they can :D . Without the fee you are $632 over invoice which sounds a lot better. Other folks here and in the price paid G35 forum have purchased/leased in NJ recently it seems - maybe someone here or over in that forum could point you to a better dealer and deal? Or you could search both forums to see what others have posted?

    Dennis
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