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Infiniti M37 M56 Lease Questions

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  • 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
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  • 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
  • legna1legna1 Posts: 4
    Just my two cents, but I think that is significantly overpriced. With the 2012's out, seems like dealers are offering brand new (not demo's) of what's left in stock in the range of 13%-14% off msrp, or roughly $3k less than the dealer's offer to you (and that's with no miles on them). $695 also strikes me as pretty steep for a doc fee...if they insist on charging that, would just add that amount on to the car quote they gave you and shop the price around.
  • jayrandalljayrandall Posts: 81
    Well, here's a deal I got offered today:

    2011 M56S, loaded - MSRP $70,335 (includes all packages Tech, Sport Touring, Sport Package, Aero, high friction brakes, illuminated kickplates)

    Invoice price is 64,100.

    39 month lease

    10k per year miles

    Down payment = first payment, tags, app fee (About $1,100)

    Monthly payment: $875

    Goo, bad, horrible?

    Thanks.
  • ericahlsericahls Posts: 4
    Just traded my 2008 M45s(5000over miles, 3 mths left on lease) for a 2011 M56x fully loaded (every option available). No money down $870 / mth for 39mths 15k miles.

    So I got out of my lease early no penalty and paid my first month at dealership.
  • Could someone please post the July money factor and residual for a 39 month lease of a 2012 M37 RWD with 12k miles/year?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for bluebeards. Infiniti Financial Services' July buy rate lease money factor and residual value for a 39 month lease of a 2012 M37 RWD Sedan with 12,000 miles per year are .00148 and 56%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • ericahlsericahls Posts: 4
    Carman,

    Is this a fair deal.

    Just traded my 2008 M45s(5000over miles, 3 mths left on lease) for a 2011 M56x fully loaded (every option available). No money down $870 / mth for 39mths 15k miles.
     
    So I got out of my lease early no penalty and paid my first month at dealership.
  • jayrandalljayrandall Posts: 81
    ericahls: What was the MSRP of your vehicle ?

    I am looking at the same car, MSRP of about $70k, and I got a deal of $805 a month, first payment and tags, 10k per year miles and 39 months.
  • suzygsuzyg Posts: 3
    Hi. I'm thinking about trading my 2010 M35 for the new 2012 M Hybrid. Since the hybrid is brand new, what do you think is a good price to pay for a lease? The car I'm looking at has an MSRP of $65,210, I want to do 39 month lease, 15,000 miles per year.

    Thanks so much for your help!

    Suzy
  • nandu112nandu112 Posts: 7
    Car Man,

    What is the money factor and residual % for a 2012 M37x w/ Deluxe Touring, 10k, and 36mo? How much for the same for a 48mo? Any current incentives?

    Thanks! Yo the MAN!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Suzy. This car's lease payment will depend upon what its selling price is. For the purpose of this exercise, I will assume a $3,000 dealer discount. Let me know if you want to use a different price.

    According to my calculations, if you were to lease a 2012 M35h that has an MSRP of $65,210 and a selling price of $62,210 through Infiniti Financial Services right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $809 assuming that you qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello nandu112. Infiniti Financial Services' 36 month buy rate lease money factor and residual value for a 36 month lease of a 2012 M37x with 10,000 miles per year are .00169 and 63%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 48 month lease are .00169 and 50%.

    The only cash incentive, other than a volume-based dealer cash promotion, that is available on this car right now is $1,000 owner loyalty cash on leases.

    Car_man
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  • 12vman12vman Posts: 3
    Car Man,

    What are the August base rates and residuals for a 2012 M37? Could you provide standard and top credit? Do you know what the threshold for top credit is?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go 12vman. Infiniti Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a 2012 M37 with 15,000 miles per year are .00158 and 60%, respectively for consumers who qualify for its top credit tier.

    I'm not sure what the exact credit score cutoff for this program is.

    Car_man
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  • ashn888ashn888 Posts: 10
    Hi Car_Man,

    Would you please tell me what the money factor and residual rate would be for a 2012 M37X w/premium package, 39 month, 17k mile/year?

    Thanks!
  • sewellgsmsewellgsm Posts: 775
    59% of the MSRP for 15k then subtract (.10 per mile x 6500 extra miles) $650.

    MF will range from .00169 to .00563 (MAX) depending on credit. I would use .00211 to figure payments. Infiniti uses the .00169 to advertise payments on line and on TV but you have to have a 740+ to get that normally.....
  • ashn888ashn888 Posts: 10
    thank you!
  • hendo44hendo44 Posts: 2
    I just picked up a 2012 M37x awd Deluxe touring package with aluminum alloy wheel option. MSRP $59203. I turned in my 2009 FX35 two months early and here is the deal I got.

    39 months, 15000 miles per year, $0 down, $735 due at signing

    $590.01 per month!

    This is the same price I was paying on my FX35 that I put $4000 down and was stickered at $46k.
    I think this is pretty good deal, what does anyone else think?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go ashn888. Infinifi Financial Services' August buy rate lease money factor and residual value for a 39 month lease of a 2012 M37X with 15,000 miles per year are .00169 and 59%, respectively for consumers who qualify for its top credit tier.

    15,000 miles per year is the highest mileage allowance that IFS publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease-signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • It sounds like a terrific deal. Where did you get it? I'd like to go there too.
  • I am currently in an 08 M35X looking to get into a M37X Can someone let me know the rebates/incentives availible as well as the money factor and residual for a 39 month lease with 18K?

    How do I calculate the lease payment given the above?

    Looking for a Premium/deluxe touring/tech car. What monthly payments are you guys seeing on a sign and drive?
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