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Infiniti M37 M56 Lease Questions

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Comments

  • colslickcolslick Posts: 26
    Car man,
    My search for finding a good deal on an M37 lease has moved into Jun. Seems like inventory concerns are slowing the deal making. Could you please update us on the MF and residuals for 24/12K and 36/12K lease on a 2012 M37 RWD .

    Thanks in advance for your help.
  • 72727272 Posts: 10
    Car_Man,

    Thank you for your response. It appears the residual value for the 2012 M37x for 36 months and 15,000 miles is 58% versus the 59% cited above. The money factor for Tier 0 and Tier 1 credit is 0.00155 for June.

    I appreciate your help as I am sure does everyone on this forum.
  • stma1stma1 Posts: 36
    I just picked up a 2011 M37x w/ premium package, MSRP 53795
    I am paying 525 a month incl 9% PA sales tax, My upfront was a total of 2000 dollars which also included the bank fee, 39 month lease 10K per year
    Any thoughts on this deal? The sale price that the lease was based on was
    approx 47,400.
  • colslickcolslick Posts: 26
    stma1 -

    That's a great deal, sale price about $2,000 below invoice and a monthly payment of $482 before the 9% tax. I would do that in a heartbeat but no 2011 left in Fl. Enjoy the M and smile for 39 months over the deal you got.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey mil6753. The money factor that you mentioned is for a 36 month lease of an AWD model. You are interested in a 39 month lease of a 2WD model. The numbers for a 39 month lease of a 2012 M37 Sedan without AWD 15,000 miles per year .00164 and 56%, respectively for consumers who qualify for its top credit tier.

    The selling price that you were quoted appears to be around $1,000 or so over dealer invoice. That isn't too bad. If the supply in your area is good and there's a decent amount of competition, you may be able to beat that by a couple hundred dollars.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome 7272.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey 7272. Did I say $595 somewhere? If I did I apologize. IFS' base acquisition fee is $700.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello colslick. Infiniti Financial Services' June buy rate lease money factor and residual value value for a 24 month lease of a 2012 M37 RWD with 12,000 miles per year are .00154 and 68%, respectively.

    The numbers for an otherwise identical 36 month lease are .00161 and 59%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mil6753mil6753 Posts: 40
    My bad Car_Man, I was wanted the particulars on 36 month, 15K/yr, AWD premium/touring package version of the M.
  • 72727272 Posts: 10
    Car_Man,

    No worries: You did not cite $595. My last lease has a lease acquisition fee of $595. I was querying whether it was now $700.

    By the way, I am about to lease a 2012 M37x with Premium Package at a gross capitalized cost of $50,312 (or $500 over dealer invoice).

    Many thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem mil6753. Infiniti Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a 2012 M37 Sedan AWD with 15,000 miles per year are .00155 and 58%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mowgli04mowgli04 Posts: 3
    Numbers I got for a 2012 M37x Premium and deluxe car: 39 months, 15K miles per year, $670 per month, $3868.44 upfront which includes NY Taxes, title fees, etc. Is this where it should be or is there room for more negotiation?
    Thanks!
  • leon_0905leon_0905 Posts: 17
    My 2008 M35 lease ends soon, and I'm contemplating whether I want to just turn it in or buy it out. I haven't put a lot of mileage, the car is in great condition and trade-in value is much higher than residual value in contract. So, it makes sense to buy it and trade-it in for either new M37 or any other car (haven't decided yet). My question has to do with the charges at the buy-out.

    What the dealer usually charges in this case?

    What about sale tax? Since the car is leased in MD I've paid 6% tax ( $2580) on full cap price of the vehicle. Will the dealer charge sale tax again on residual value (the value is about $21.5K), hate to pay about $1200 in addition to $2580 already paid?
  • What about sale tax? Since the car is leased in MD I've paid 6% tax ( $2580) on full cap price of the vehicle. Will the dealer charge sale tax again on residual value (the value is about $21.5K), hate to pay about $1200 in addition to $2580 already paid?

    Leon,

    You haven't paid sales tax on the full cap price of the vehicle. The cap price is used to determine your monthly payments, but you only pay sales tax on the portion of the depreciation your lease payments represent. For example, assume no cap cost reduction and your cap cost was $50K and the residual was $30k, you're only paying sales tax on the $20k dep'n. So at lease end, if you exercise the buyout, you still have to pay sales tax on that portion. Technically, since the buyout is always a bit higher than the residual used in the lease calc, you do actually have a duplicate sales tax for the amount of the buyout above the lease residual.

    Since your trade-in value is way higher than your lease buyout, buying out the lease and trading in seems to be the smart move. Good luck!
  • delta737hdelta737h Posts: 603
    edited June 2011
    leon,

    If you purchase then trade the vehicle, you will pay sales tax on the residual if you have a residual buyout option. If the fund provider allows a dealer residual buyout, a less costly option is to let the dealer purchase your leased vehicle in a trade, then you can apply any equity toward your next purchase or lease and escape having to pay sales tax because you're not buying the vehicle. I've done this a few times in Ohio.

    In Maryland, you pay sales tax on the selling price of the vehicle or, what is known as the agreed upon value in a lease. Maryland does not tax the payment streams nor does it tax depreciation as some states do. You may also be liable for tax on such items as dealer doc fees and acquisition fees whether they're capitalized in the lease or not.

    John
    TheAutoLeaseGeek
  • leon_0905leon_0905 Posts: 17
    Thanks for the info.
    Doesn't seem seem fair to pay sales tax twice but, again, paying sales tax on agreed upon value in a lease in MD doesn't make much sense either.

    Question: can I negotiate trade-in value with same dealer I got my car from? Don't know if I get another Infinity yet, but, just as a thought, if I'm able to get a good value on the next car in the same dealership. I'd definitely wouldn't want to apply the equity toward next lease as I never put money down (just multiple security deposits and necessary fees), so I would expect a check for a trade-in (or a difference between residual and trade-in).
  • delta737hdelta737h Posts: 603
    leon,

    You're absolutely right! Never put money down on a vehicle as it's a depreciating asset. Another reason is that if the car is stolen or totaled, you may lose all or part of the down payment as GAP covers only the amount by which the lease balance exceeds the actual cash value of the vehicle. So, it's best to stick the equity in your pocket.

    There are a some states (e.g., AL, Ill, NV, MD, TX, VA) that tax the full selling price. But, you have to remember that every leased vehicle is a sold vehicle. And, yes, if you lease and then exercise your buy option, you will be taxed on the outstanding lease balance (residual... for full term leases) plus the purchase option fee, if any. Most states, if not all, consider the front end lease transaction and the back end purchase transaction as two seperate and distinct transactions. Accordingly, tax is levied on both transactions.

    Yes, you can negotiate a trade with the original dealer. In fact, you can negotiate a trade with any dealer.

    Hope this helps.

    John
    TheAutoLeaseGeek
  • leon_0905leon_0905 Posts: 17
    And I hoped I could escape the tax :-)

    Funny thing is that I called dealer a few days ago to ask same questions, and they had no idea! They transferred me from one person to the other and I still didn't get an answer! But again, I was the first one in this dealership (and it's quite a big one) to exercise MSD, the Finance manager had to call IFS to ask what the hell MSD is, so I'm not surprised!

    A few questions about end of lease.
    Does dealer require any maintenance records? I have a mechanic friend in Lexus dealership who was doing all oil changes (every 5k) and other maintenance work but off the record, hence no paperwork.

    Also, I read somewhere (not sure if it's true) that tires are also inspected and a certain amount of tread would be required. Despite low mileage my tires are definitely in need for replacement (almost no tread left), and might be quite "bold" by the time I return the car. Do you know if there is a penalty or a charge for such tires? Hate to think I need to put in new tires now.
  • delta737hdelta737h Posts: 603
    I've never had to produce maintenance records at lease end. Unless there is a glaring problem, it's not likely you'll be asked to produce records. Regarding tire wear, you may want to refer to the wear/tear criteria in your lease agreement.

    John
    TheAutoLeaseGeek
  • Looking at a 2011 M37 (Demo) with premium package msrp $51,175,00.

    Dealer offered me $47,587.90 and I want to come up with a counter offer, but cannot figure out what I should deduct for the 4400 miles that are on the car. Can anyone offer advice on that? I was going to offer him $46,800 but maybe I should go lower, after all its "used".

    Also, in the upfront fees there is a Document Fee of $695.00. Is this a bs fee that I can tell him to get rid of. I am a repeat customer of this dealer and don't think I should pay that fee. Any thoughts
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