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Infiniti FX35 / FX50 Lease Questions

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  • scottrlscottrl Posts: 15
    edited June 2010
    I was close to leasing a 2010 FX35 AWD w/Premium at the end of May but held off. The price I was quoted was -4,100 off MSRP (which is $47,410) and -1,000 off for Infiniti owner loyalty + 595 Acqfee + 249 doc all rolled in for a netcapcost of $43,154. Payment would have been $575.33 including RI sales tax, 39 months, 10K miles per year with no money down, only the first month's payment due at signing along with $70 in tax to be paid on the $1000 owner loyalty (1K * 7% = 70$).

    This was based on the .00092 money factor and 52% residual.

    To purchase the FX35, the dealership I was speaking with seemed willing to discount -8000 off MSRP (purchase only).

    Car_man - do you know what programs Infiniti / IFS is running for June? What the money factor/residuals and discounts for leasing will be. I took a chance that waiting until June to pull the trigger would be worth the weight. I cannot imagine the residual will change any, nor the money factor (at least not much) so it's the discounts that'll really help. Another -1000 discount would save me $30/month.

    Anyone else getting these type of numbers or higher/lower?
  • scottrlscottrl Posts: 15
    Hello Car_Man do you have the lease figures for June? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kjc1334. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 FX35 AWD with 15,000 miles per year are .00079 and 51%, respectively for consumers who qualify for its top credit tier.

    I personally always insist that the dealer use the buy rate to calculate my vehicle's monthly payment. If the first dealer that I shop with won't do so, I tell them that I'm going to switch to a dealer that will. That usually solves the problem.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the latest on Infiniti's lease program for this model, scottrl.

    Infiniti Financial Services' June buy rate lease money factor and residual value for a 39 month lease of a 2010 FX35 AWD with 10,000 miles per year are .00079 and 53%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello scottrl. Please see my previous post for the information that you're looking for.

    Car_man
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  • grossiegrossie Posts: 39
    Hi CarMan-

    I'm told that the June residual & mf on the FX35AWD for 39mos/10k are 52% & 0.00092, not 53% & 0.00079

    Could this be true? The guy who told me is a manager of a dealership whom I trust, I've dealt with him twice before with good results. This difference costs me about $30-$35 per month over the course of my lease, not enough to break my bank, but enough to anger me very slightly! :)

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    My apologies, grossie. The numbers that I mentioned are for 36 months, not 39. The 39 month numbers that you mentioned are correct. Sorry for the confusion.

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  • blastphemyblastphemy Posts: 34
    My wife and I just leased an FX50 w/Tech pkg, NO Sport pkg, illuminated kick plates, splash guards, first aid kit, rear bumper protector, cargo area organizer, and vehicle alarm impact sensor; Black Obsidian exterior with Wheat interior.

    MSRP was $63,850.
    Invoice was $58,675.
    Received $1,000 in loyalty cash.
    Money Factor was 0.00085 (2.04%)
    Residual Value for 36 months at 15,000 miles annually was 48%.
    Lease Acquisition fee was $595.
    Registration/DMV Fees were $798.
    Dealer Document Prep Fee was $45.
    Basic LoJack was $695.

    I should note we cheated a little bit by using the VPP program (www.insidenissan.com), so we didn't really negotiate anything other than our trade-in. But to our frustration we did have to set the dealer straight on the money factor (which Miller Infiniti in Van Nuys initially quoted as 0.0021 - NOT!)

    The dealership also initially quoted 50% for residual value, failing to mention that it was for 10,000 miles per year, so that was a bit of a bait-and-switch. Also, the dealer gave us $4,000 for our trade-in, but then wound up applying it to title, registration, acquisition fee, etc. instead of using 100% of it to adjust the cap cost (meaning the monthly payment didn't match what I had calculated online).

    Once we got all that nonsense sorted out (choosing to pay DMV fees, first lease payment, and the like with a separate check so that the $4,000 would bring the adjusted cap cost to $54,322.30), we wound up with a monthly payment of $801.
  • blastphemyblastphemy Posts: 34
    edited June 2010
    My insurance agent asked me if I wanted to purchase gap insurance on my leased FX50. I tried to find out online if I needed this, and only managed to confuse myself!

    I came across terms like "closed-ended lease" (which seemed to mean even if the car is worth less than the agreed-upon residual value, I can turn it in at the end with no penalty) and "open-ended lease" (which meant the lessee would have to pay the difference between the agreed-upon residual value and actual residual value when the car is turned in at the end). But I couldn't find out how to determine which one my lease contract was.

    Also, neither answered the main question posed by my insurance agent: if the car is totaled before the end of the lease period, what happens if I don't have gap insurance? (If the insurance company determines the car's depreciated market value at the time of the accident was less than I owed the lessor at that time, does the insurance company only pay its calculated amount to the lessor and I'd be required to pay the difference?)

    Thank you everyone for any clarification and advice you can provide!
  • grossiegrossie Posts: 39
    You'll have to check with the dealer. In Illinois gap insurance is covered automatically. Most leases are closed-ended, I'd be shocked if it was otherwise.
  • grossiegrossie Posts: 39
    Giving back to the forums:

    I closed my deal today at Fields in Glencoe, Illinois. Basically I got the fx35 awd premium at invoice(minus the $1000 loyalty bonus). 52%, 0.00092, 39mos/10k miles. The way the $1000 came off was after the state tax was computed. Easy deal, great people to deal with.

    I've actually had the car since last Wednesday (some paperwork issues to deal with that only got sorted out today), and I love it. Biggest pluses vs my 08 model are: better audio (by far), much faster out of the gate, nicer driving feel, great cooled seats (key in the summer in Chicago), aux cable for radio (been listening to Pandora off my BB). Biggest minuses are that while it's slightly longer on the exterior the cabin is actually slightly smaller for all parties (front, rear, cargo), and sightlines aren't quite as good as my 08, but maybe I need to get used to that. Price went up quite a bit over the last couple of years, so I guess that's a negative too.
  • kyfdxkyfdx Posts: 29,936
    edited June 2010
    what happens if I don't have gap insurance? (If the insurance company determines the car's depreciated market value at the time of the accident was less than I owed the lessor at that time, does the insurance company only pay its calculated amount to the lessor and I'd be required to pay the difference?)

    That's exactly what happens without GAP insurance... But, check your lease paperwork, or call IFS.. Many leasing banks (especially captive manufacturer finance companies) include GAP with every lease (Honda and BMW for example.... Toyota does not).. So, you may already have it.

    Did your insurance agent quote an amount? Usually, your own insurance agent is the cheapest place to get GAP, if they offer it..

    And.. you most certainly have a closed-end lease, if it is through IFS..

    regards,
    kyfdx

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, grossie.

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  • rawbombrawbomb Posts: 13
    Does anyone know what the current July rates for the fx are?
  • blastphemyblastphemy Posts: 34
    The navigation system in my 2010 FX50 seems extremely sluggish as compared to my 2008 M45's nav. All the various controls - from checking tire pressure and fuel economy to setting a destination - is noticeably slower on the FX50.

    Also, when I set a destination and then check "traffic on route," I frequently get a message that no traffic data is available. And if nearby or on-route data actually does load, it usually takes from 20 seconds to 3 minutes.

    I've also never seen green "traffic flowing" line items on the FX50 on a route, only yellow or red when congestion is near. And it seems like I rarely get traffic for the entire route.

    That is in sharp contrast to my M45, which will download traffic data almost immediately after I've begun my route, and even give me a verbal warning if any congestion is noted along the route. (I never get a message on my M45 that traffic data isn't available if I've set a route that includes a highway.) On my M45, I always see the portions of the route that are green, and see traffic right up 'til the last highway exit. (It almost seems like the FX50 says "data not available" when a portion of the route is green with traffic flowing, which I sure hope isn't an intentional "upgrade" from the 2008 nav systems!)

    If anyone else has experienced a sluggish nav system or had their XM NavTraffic act this strangely, please let me know so I can determine if this is just how the 2010 FX system works, or if I should be making a big stink at the dealership.

    I've confirmed with XM that I have XM NavTraffic Premium, and the dealership has already "rebooted" my system once.

    Thank you, everyone!
  • blastphemyblastphemy Posts: 34
    Quick follow-up with another problem - certain addresses are not recognized correctly by the nav system. Try this with your nav system: set the destination for 355 S. Grand Avenue in Los Angeles, CA. Now compare that location (which incorrectly shows as San Pedro, CA in our system) with a search for "place" KPMG in Los Angeles, CA (the business at 355 S. Grand Ave in LA) which correctly shows its location as downtown Los Angeles.

    The problem is that there are no less than SIX addresses in Los Angeles county for 355 S. Grand Avenue (Los Angeles - 90071, Los Angeles - 90003, South Pasadena - 91105, San Pedro - 90731, West Covina - 91791, and Glendora - 91741), and the nav system is arbitrarily selecting the San Pedro address as "Los Angeles" (to the EXCLUSION of the real Los Angeles address) without giving the driver an option to select any of the other five Los Angeles locations of 355 S. Grand Ave.

    We've tried entering the address multiple ways (by city first, then street number, then street; or by just 355 Grand Ave; etc.), and every time, the nav system substitutes San Pedro for Los Angeles for this address.

    Same thing happens with Disney Hall, Ahmanson Theatre, or any other address on Grand Avenue in downtown Los Angeles!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rawbomb. I have seen Infiniti's July lease program and I would be happy to help you out. The FX's lease program varies by term, trim level, and mileage allowance. You never mentioned what any of these variables are, so for now I will have to make some assumptions. Let me know if you want something different.

    Infiniti Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 FX35 AWD with 15,000 miles per year are .00041 and 48%, respectively for consumers who qualify for its top credit tier.

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  • rawbombrawbomb Posts: 13
    It would be for top tier 10k and which ever length had the better rate. I know last month, 42 month was the better deal at .00096 I believe.
    Thanks
  • rawbombrawbomb Posts: 13
    Also I was looking at a rwd fx35
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited July 2010
    Thanks for the additional information, rawbomb. Infiniti Financial Services' July buy rate lease money factor and residual value for a 42 month lease of a 2010 FX35 RWD with 10,000 miles per year are .00062 and 46%, respectively.

    Car_man
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  • rawbombrawbomb Posts: 13
    Thanks alot! I see they dropped the money factor but also dropped the risidual down to 46% from 49%. Don't know if that makes it better or worse.
  • nvorcenvorce Posts: 2
    I was wondering if anyone knew what the money factor and residual for a 2010 fx 35 awd 15k per year 39 months.
    Thanks
  • geojregeojre Posts: 12
    Could you provide me with the residual for 36mo 10k? I am assuming that the money factor would be the same as the 36mo 15k program listed above .00041
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, rawbomb. Banks often drop vehicles' residual values a the beginning of new quarter. The manufacturer then in turn has to lower its money factors in an effort to keep its vehicles' payments at least somewhat similar.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nvorce. Here's the information that you're looking for. Infiniti Financial Services' current buy rate lease money factor and residual value for a 39 month lease of a 2010 FX35 AWD with 15,000 miles per year are .00057 and 47%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi geojre. Infiniti Financial Services' July buy rate lease money factor and residual value for a 36-month lease of a 2010 FX35 AWD with 15,000 miles per year are .00041 and I believe 48%, respectively.

    IFS used to add 2% to its 15,000 mile per year residual values for leases with only 10,000 miles per year, but I recently heard that it might have switched its low milage adder for 10k leases to 3%.

    Car_man
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  • g35_maniag35_mania Posts: 8
    edited July 2010
    Car_Man,

    You are all over these forums. Thanks for your input. My question.

    Whats is the Residual and MF for a 2011 FX35 RWD for 36 and 39 mos programs 12k)?

    I was quoted:

    47% residual and 0.00096 for a 39 mos 12k lease

    :P
    Cheers,
    Ed
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, Ed. I try :).

    Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 FX35 RWD with 12,000 miles per year are .00038 and 49%, respectively.

    The numbers for an otherwise identical 39 month lease are .00054 and 48%.

    I have not seen any information on the 2011 FX. I don't think that Infiniti has published anything for it yet.

    Car_man
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  • Car Man,

    I am looking to lease an FX35. Knowing that the 2011 is expected to come out at the end of the month I am wondering if I will get a better deal on a 2010 or waiting for a 2011?

    I am located in Boston, MA am looking for 36-39mo lease with the Premium and Navigation packages on a AWD. I will put up to $4,000 down. I need 12k miles per year. What should I expect to pay?
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