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-Gary
wg
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
But thanks for the Info i was not aware of the security deposit getting a refund on that.
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?
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
This is my 1st lease.
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
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!
Options:
SIRIUS™ Satellite Radio $300.00
Premium Package $2,150.00
Wood Trim $450.00
Splash Guards (non-sport only) $140.00
Trunk Cargo Net $50.00
State: New York
Tax: 7%
I do not believe the monthly payment includes tax.
I do not know what residual value, money factor or cap cost they are using. Please advise as to what they should be using if you know. Frankly, I have been focused on the monthly payment and how much out of pocket. I do not want to apply any money towards a cap cost reduction. I onlt want to pay closing costs and if I can avoid those, I would. Those are the two factors that affect me.
I am not an expert at this by any means nor do I enjoy it that much. I just want to get the best deal that I can and drive away with the car.
Your thoughts and advice are greatly appreciated. Thanks!
Cap cost reduction $2,661.64
1st Month's Payment $419.83
Dealer Fee $607.50
Taxes Paid Up Front $1,694.18
Total Due at signing $5,383.16
Also, I read the posts (very helpful, thank you) relating to the extra security deposits and I wanted to go that route, however, when I contacted my dealer (Competition Infiniti in St. James, NY), they stated that they are no longer doing this. Is that right?
Thank you for your help.
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Lease option #1:
2007 G35X $37,290 (premium pkg, satellite radio)
36 months x 10,000 miles per year with First payment only down and Security deposit waived $603 plus tax with a residual of 59% or $22,001 and a money factor of 00245
Lease option #2: (premium pkg, satellite radio)
In regards to the 2007 G35 lease, 99% of people put down the basic fees which are first payment , security deposit , bank fee and tax which is a total out of pocket of $1326. If you do not put the fees down they are rolled into your lease, they are paid one way or the other. So if you put the basic fees down your payment will be $581 tax included with basic fees only down.
Can you please tell me what the dealer is doing here?
Have the numbers actually changed at all or are they rolling costs into the lease? What is the best deal I can get on this car? I am frustrated. Please advise.
I ran the numbers on a lease calculator. My current lease MF is .00165. I read on this board that the MF on a new lease is .00243. If the price and fees of the new car are exactly the same as the old one, just the difference in the MF will cost $60/mo more. Over a 39 mo lease that will obligate me to about $2400 more in payments, vs. the value of my remaining payments, which is the same. Sounds like a wash.
Am I missing anything? Do I have the correct MF?
Thanks.
2007 G35x, premium package, satellite radio, cargo net and splash guards
MSRP (including de $700 destination charge): $37,290
Selling Price: $35,300
Rate Lease Money Factor: 1.76
Residual Factor: 57% at 39 months at 12k miles per year
Downpayment: $5k broken down as:
cap/red: $2,312.13
doc fee: $45
tax: $1496.06
tire tax: $12.50
1st month payment: $396.31
bank fee: $595
For some reason, the breakdown they provide for the $5k comes up $143 under $5k. I am waiting on a phone call to advise why.
I may also seek, as suggested in this forum, putting no or less money down. If you have a breakdown w/ no money down or w/ first month and whatever other fees (registration fees) are required to be put down only, that would be wonderful to examine.
I appreciate your thoughts and advice.
Zonk
Infiniti Financial Services Lease Rates & Residuals – Effective 3/6/07
Rates may vary by region. Your dealer is not obligated to offer these rates.
Add 2% to Residual Value for 12k mi/yr and 3% for 10k mi/yr on all terms
2007 Infiniti G35 Coupe / Compare Bank Lease Programs HERE (3)
24 mo/15k mi – Residual Value 71% of MSRP – .00232 Money Factor Buy Rate
36 mo/15k mi – Residual Value 60% of MSRP – .00243 Money Factor Buy Rate
48 mo/15k mi – Residual Value 47% of MSRP – .00244 Money Factor Buy Rate
60 mo/15k mi – Residual Value 40% of MSRP – .00256 Money Factor Buy Rate
2007 Infiniti G35 Sedan / Compare Bank Lease Programs HERE (3)
24 mo/15k mi – Residual Value 67% of MSRP – .00162 Money Factor Buy Rate
36 mo/15k mi – Residual Value 57% of MSRP – .00196 Money Factor Buy Rate
48 mo/15k mi – Residual Value 46% of MSRP – .00238 Money Factor Buy Rate
60 mo/15k mi – Residual Value 38% of MSRP – .00259 Money Factor Buy Rate
2007 Infiniti G35 Sport Sedan / Compare Bank Lease Programs HERE (3)
24 mo/15k mi – Residual Value 65% of MSRP – .00191 Money Factor Buy Rate
36 mo/15k mi – Residual Value 55% of MSRP – .00176 Money Factor Buy Rate
48 mo/15k mi – Residual Value 44% of MSRP – .00238 Money Factor Buy Rate
60 mo/15k mi – Residual Value 36% of MSRP – .00257 Money Factor Buy Rate
2007 Infiniti G35 X Sedan / Compare Bank Lease Programs HERE (3)
24 mo/15k mi – Residual Value 68% of MSRP – .00164 Money Factor Buy Rate
36 mo/15k mi – Residual Value 57% of MSRP – .00175 Money Factor Buy Rate
48 mo/15k mi – Residual Value 47% of MSRP – .00240 Money Factor Buy Rate
60 mo/15k mi – Residual Value 39% of MSRP – .00259 Money Factor Buy Rate
Now...the other info that you need to find out is what is the Cap Cost of the car. We know what the MSRP, but the cap cost is negotiable. Once you know the cap cost, you can calculate the payment accurately. Also, get a detailed breakdown of all closing costs (doc fees, taxes, dealer fees, etc.) It looks like they gave you a total for that already, but just make sure that it includes the $595 acquisition fee. Sometimes they like to charge the acq. fee and then charge a high "dealer fee". It's just a way to pad profits. For example...on my lease I paid the fees upfront. There are differences in costs from state to state, but some things can be negotiated. I paid 1st month (varies), registration (varies), doc fee ($45 but can vary), upfront tax ($50 but can vary), Acq fee ($595 non-negotiable). I was coming from another Infiniti so I didn't have to put a sec. deposit, but some people might. Other than that there really shouldn't be any other "signing" fees. Also find out if they have any dealer add-ons that are included...those can be pure dealer profit as well and are sometimes negotiable.
Lease Payment Calculation
Cap Cost $35,300.00
Acquisition Fee $0.00
Total Cost $35,300.00
Down Payment $2,312.00
Trade-in $0
Total Cap Reduction $2,312.00
Amt Financed $32,988.00 (A)
Money Factor 0.176% (B)
MSRP $37,290.00
Residual $21,255.30 (C)
Residual, Percent 57.00%
Term, Months 39
Sales Tax 8.00%
Monthly Depreciation $300.84
Monthly Money Cost $95.47 B*(A+C)
Lease Payment $396.31 (pre-tax)
Sales Tax $31.70
Total Payment $428.01 (if you were to pay tax monthly)
Upfront costs
Number of Deposits 0
Tire Fee $ 12.00
Bank/Doc Fees $45.00
Upfront Tax $1,496.00
Dealer Fee $595.00
License & Registration $0.00
Drive0ff $4,856.31
Myself, I like to pay the doc fees, registration, 1st month, and acq. fee up front and only finance the cost of the car. I also put down multiple sec deposits, but I am in CA so the rules are different here. I also don't like 39 month or 42 month type leases. remember you will still have to pay full price on your registration for those last 3 months, and then you will have to pay again in your new car. If I use the same cap cost, MSRP, and cap reduction, but use the 36mo/12k numbers (59% and .00176) your pre-tax monthly payment is 402/mo. (only 6 bucks more per month, but 3 months less on the lease) Without the cap reduction it is $508/mo. for 36 months.
As for your other points:
You are correct that NY does not allow multiple security deposits. I could put 1 security deposit down for $400 but that would only save me about $5 per month and tie up the $400. I am leaning toward not putting down the $2,300 as cap reduction as you suggest. Based on your calculation, am I correct that my monthly payments then would be $428.01? If so, that increases my overall total payment over the 39 months by $1,236.30 and yet I would not be putting down $2,312 so I would have a $1k net. Right?
As for registration, when you transfer plates from your previous car to your new car, the registration picks right up and you do not lose out on any registration expense previously paid. Last lease I had (before my current one) expired in the month of December. The registration on my current lease, which commenced 5/1/04, expires this December.
As for the 36 month lease, I am told by the dealer the rates are not as good and that the best rate this month is for 39 months (which is fine w/ me really); however, is the dealer bull s....ing me on the 39 month being the best rate?
Thanks for all your help and let me know about the above, particularly the monthly payments if I do not put down the $2,300.
I am in sales and unfortunately my company is pulling our car program. I am in a 2006 Chrysler 300, company owns the vehicle so I am going in without a trade.
My heart is set on the G35 Coupe Base.
Competition Infinity on Long Island NY.
Here is what I was given:
2007 G35 Coupe
24 month lease
25K miles per year
MSRP 33,450
prem package 2,850
sport pkg 1,600
Total $37,900 (taken off of Infinit website)
MSRP $35,511.79 (They said MSRP for these options is $37,500 guess they were close)
Residual is $25,475
Taxes 1,291.25
Bank 525.00
Tire tax $12.50?
Payment
$499/month with $4,000 down, includes taxes upfront
$599/month with $2,500 down, does not include taxes.
My company pays me $.485 cents per mile as a reimbursment so I can swing the payment and still have enough for gas and insurance as long as I drive 2,100 miles per month.
Does this make sense? Am i miising anything? Any suggestions on doing more homework here?
Thank you!
Adam
INCLUDES Premium Package and Sports package (gotta have the bigger tires)
Thanks!
As for the 39 month vs. 36 month rate, it is possible that they have better rates for 39...they change all the time and sometimes they have specials like that. But, like I showed you, the best 36 month rate will only end up being a few bucks more a month, but you are responsible for 3 fewer months...it's up to you.
If you don't put the money down for a cap reduction, your monthly payment should be $460/month based on the 39 month numbers you gave me. If they are giving you the option of putting down a security deposit for 400.00 and it lowers your money factor by .0001 (like it should) it is worth it. Eventhough it ties up the 400, your payment will be lower by about 5 bucks, BUT...the security deposit is REFUNDABLE at the end.
My suggestion...and this is just based on what I would do. I would tell them I want the best 36 month rates, which for 12k miles a year are 59% and .00175. I would push for a lower cap cost if possible. I would also pay the closing fees (1st, registration, acq. fee, doc fee, tax) upfront and just finance the car. If the sec. deposit will lower my payment I would also do that. All in all, I don't think that your dealer is bs'ing you really. I think that they are burying a couple hundred in there somewhere, but it's hard to say as I don't know how paying ALL of the tax upfront works.
What I am curious about are the numbers w/o putting down the pre-tax amount of $1,496.06 and rolling that number into the monthly payments. And the numbers if I do not put down the $2,312 cap reduction. Maybe we'd still arive at the $460 per month figure you provided. I am not sure. Your thoughts are really appreciated.
Thanks.
If you don't pay the $2312 cap reduction your cost for depreciation and financing is $460/mo. The tax will be different and likely your total to pay tax upfront will also be different from the $1496 amount. If you didn't pay the tax upfront or the cap reduction your monthly payment will be $496/mo.
You should definitely ask them to figure out how they come up with $1496 for the taxes...it seems like they are charging you the tax on the cap cost of the car, but aren't taking your cap reduction into consideration.
G35 Journey Sedan
15K miles/year
39 months
MSRP - $35,140.00
What would a good PRE-TAX lease cost?
Would $430/month come close??????????
I have the exact car 2007G35x Black with premium, satellite radio in stock, just wanted to let you know.FirstPayment = $581
Security Deposit = 0
Bank Fee = $595( same as acq fee)
tax = $35.70
Doc fee =$99
Title App = $15
Tire Tax = $1.25
total $1326.95 which is your total out of pocket on the 36m x 36k lease $581 tax included
Lease Payment
Sale Price= $36,589.88
Bank Fee = $595 or Acquisition Fee
Money Factor = ..00200
MSRP = $37,290
Residual = $22,001.10
Residual %= 59%
Term 36 months
sales tax 6% on payment
monthly depreciation = $430.08
Monthly money cost = $549.05
Lease payment = $549.05
sales tax = $32.94
Total Payment= $581.99
What do you think of this deal? The MSRP $37,290. The MF still seems a bit high. Where is the cap cost? Any advice?
Thanks!
wg
2007 G35x AWD, Premium, Nav, Tech, Rosewood
Blue Slate/Graphite (in stock)
MSRP $40,500
Selling Price $37,299
39 months/15k a year
$545 per month
$1,441 due at signing, which includes:
$545 1st month
$595 bank fee
$51.32 tax on bank fee
$250 out of state registration
Residual $22,680
Money Factor .00176
Any advice would be appreciated
On a 39 month lease with $1,000 drive-off, my payment was 489 tax-in. I bought it at Sawgrass infiniti, Sunrise, FL.
Lease Payment
Cap Cost $36,590.00
Luxury Tax $0.00
Acquisition Fee $0.00
Total Cost $36,590.00
Down Payment $0.00
Trade-in
Total Cap Reduction $0.00
Amt Financed $36,590.00 (A)
Money Factor 0.175% (B)
MSRP $37,290.00
Residual $22,001.10 (C)
Residual, Percent 59.00%
Term, Months 36
Sales Tax 6.00%
Monthly Depreciation $405.25
Monthly Money Cost $102.53 (B*(A+C))
Lease Payment $507.78
Sales Tax $30.47
Total Payment $538.25
Now, for every $100.00 you can reduce your Sale Price (Cap Cost), you can expect your monthly payment to drop roughly 3 dollars/mo. The other thing is that the math doesn't add up on your out of pocket numbers, but I am assuming that the small discrepancy is for vehicle registration. Hopefully, now that you have some info, you will be more prepared to deal with them and can get yourself a new car Best of luck!
MSRP: $37,740 (Premium, Satellite, Wood Trim, Splash Guards, Cargo net)
Cap Cost: $35,055
Money Factor: .00176
Residual Percentage: 58%
Out of Pocket: $3,000 (Includes Sales Tax, Registration Fees, Acquisition Fee/Bank Fee, $500 deposit (not security...seems like it might be dealer profit) and 1st pmt).
Lease terms:
39 months
10,000 miles
Payment Offered: $423.50
Is this a good deal?
As I have mentioned in previous posts, I only have 22,000 miles on my 04 G35x. My lease allowed for 39,000 miles by September. I was hoping to get some concession from the dealership knowing that they can sell the vehicle for a hefty profit. They are telling me that there is no value to them and that corporate Infiniti takes the vehicle back. I find that hard to believe. Do have any insight on what dealerships do with returned leased vehicles?
can somebody calculate my payments on my car.
Im looking at the new 2007 infiniti g35 sport with automatic tran.
msrp $37,050
my price its $34,062
I like to know my money factor and residual for 24 and 39 months.
Thank you and good luck.
Truthfully, I am not too anxious to get out of my existing lease early. I never would have considered it had I not received calls from the dealership trying to persuade me. I figured if I was able to get a great deal, I might as well do it. I told the dealership that I needed the deal to be real sweet in order for me to do it. Otherwise I am going to drive my 04 Infiniti G35x as much as I can until the lease is up in September.
I actually was on the phone with the dealership last night and they got off the phone with me abruptly because they were frustrated. I just received a voicemail from the sales manager hoping to talk more. I plan on calling him tomorrow to discuss further. Given the information that I have given you so far, what would the deal have to be for you to get out of a lease like mine early? I am know that is a difficult question, but any advice you can provide before I call the sales manager tomorrow would be greatly appreciated. Thanks again for all of your assistance so far!
I would appreciate any other input from others as well. Thanks!