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Comments
Personally, if I were in your position and I had an under mileage vehicle that they are calling me for, and they have a car on the lot that I want, because I was in a position to walk away, I'd say that I want no more than $500 over invoice (or invoice if they really want my car), minimum drive offs and the buy rate for the MF and Residual for a 36 month lease. And I'd want to see them print out the whole itemized deal on paper prior to going down there so that I can see exactly where every single dollar goes line by line and I can double check everything first. It's very easy to get there and as soon as all the numbers start flying get confused.
For your reference, that car for 36 months/10k miles, with a cap cost of $35067 ($500 over), MSRP of $37740, MF @ .00175, and residual of 60% ($22644) your monthly payment (not including tax is $446/month. This doesn't include the drive offs of 1st payment, registration, acq. fee, doc fee (which should be under $100) and taxes. But they will have to give you those exact figures for that. Get it all in writing and then go from there. Good luck.
You make a good point regarding the sales tax. I paid it all upfront on my current lease. I would be avoiding 6 months or so of sales tax if I had rolled into my payment. That is a very good point and something I will consider as this deal progresses. The sales tax rate that I was given was 7%. I will try to confirm that is correct before I speak with the sales manager tomorrow.
Thanks again for your input. I will be sure to get everything in writing before I make the trip to the dealership to seal the deal. I will probably list the details one last time on this forum to confirm I am not missing something. Your continued support is greatly appreciated! Thanks....
With normal inception fees down (approx. $1,600)
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??????????
They are now offering all the same parameters as discussed previously with these changes...
Sales Price: $35,350
Money Factor: 0.175%
In your opinion, is this worthy of a decent deal?
I suggest looking for one of the online lease calculators and spend some time plugging in your numbers and then play with all the different calculations to see just how things can be moved around. It's amazing how one small change in one number can affect everything else.
Please let me know your thoughts before I agree to go to the dealership and seal the deal.
2007 G35x
Base Price - $33,950
Premium Package - $2,150
Wood Trim Package - $450
Sirius Satellite Radio - $300
Splash Guards - $140
Trunk Cargo net - $50
Destination Charge - $700
MSRP - $37,740
Invoice - $34,567
Cap Cost - $35,055
Sales Tax (7%) - $1,195.21
Reg/Doc Fees - $217.50
Acquisition/Bank Fee - $595
Money Factor - .00176
Residual (58%) - $21,889.20
Total Depreciation - $13,165.80
Term - 39 months
Monthly Depreciation - $337.58
Monthly Money Cost - $100.22
Monthly Lease Payment - $437.81
Out of Pocket - $2445.52 (1st Pmt, Sales Tax, Reg/Doc Fees, Acquisition/Bank Fee)
Please let me know your thoughts on the terms listed above. Thanks!
Lease Payment (39 Months)
Cap Cost $35,055.00
Acquisition Fee $0.00
Total Cost $35,055.00
Down Payment $0.00
Trade-in $0.00
Total Cap Reduction $0.00
Amt Financed $35,055.00
Money Factor 0.176%
MSRP $37,740.00
Residual $21,889.20
Residual, Percent 58.00%
Term, Months 39
Sales Tax 7.00%
Monthly Depreciation $337.58
Monthly Money Cost $100.22
Lease Payment $437.81
Sales Tax $30.65
Total Payment $468.45 (IF YOU PAY TAX MONTHLY)
Number of Deposits 0
Upfront Tax $1,195.21
Acquisition Fee $595.00
Registration & Docs $217.50
Drive0ff $2,445.52
Important thing to note is that there don't appear to be any hidden pads anywhere...although I still think that they are undervaluing the residual considering it's only for 10k miles a year, and you are giving them back a car that is under mileage. You can try to push them for 12k miles a year at the same residual, or maybe just go for the best 36mo/30k mile rates, I'll show you below. The car is going for about 500 over invoice which, as long as that is what you are happy with, is important because they aren't really making up for it anywhere else in this lease. Granted...they will be getting your current vehicle and I'm sure they will make up for it there, but if you are prepared just wanting to get out of your current lease and into a new one then it probably isn't worth the further fight. Also, maybe this time you shouldn't pay all the tax upfront incase you decide to turn this one in early...it will lower your out of pocket expense quite a bit too. Here is the same basic lease but with the 36 month numbers of .00175 and 60%. This way, you will pay a little bit more per month...BUT...a little bit less in total taxes, you will save yourself 3 months of payments , and also save the registration fee you will have to pay for the extra 3 months.
Lease Payment (36 Months)
Cap Cost $35,055.00
Acquisition Fee $0.00
Total Cost $35,055.00
Down Payment $0.00
Trade-in $0.00
Total Cap Reduction $0.00
Amt Financed $35,055.00
Money Factor 0.175%
MSRP $37,740.00
Residual $22,644.00
Residual, Percent 60.00%
Term, Months 36
Sales Tax 7.00%
Monthly Depreciation $344.75
Monthly Money Cost $100.97
Lease Payment $445.72
Sales Tax $31.20
Total Payment $476.92
Number of Deposits 0
Tire Fee $0.00
Bank/Doc Fees $0.00
Upfront Tax $1,123.20
Dealer Fee $595.00
License & Registration $217.50
Drive0ff $2,381.42
Either way, I think that you are getting a pretty fair shake from them...you just had to work for it
Thanks!! I am shooting for $550 tax in.. Realistic?
Thanks!
I'm trying to lease a G35 MT through VPP here in Minnesota. The dealer said they would do it, and the car has Prem, Nav, Tech, splash guards and cargo net - MSRP is 38,690
According to them, the invoice price is $35,292, and my VPP selling price is 35,592. But here is where it gets weird: for a 39 month lease 12k miles, they are using a 55% residual, and the money factor is .00217
from the rates I saw posted for March, I was expecting 57% and .00176. And they said going to 36 months only makes a difference of 1 point in the residual, 56%. (Registration in Minnesota gives you a 3 month grace period or something like that which means 36 vs. 39 month term is not a big factor)
Whe I told them i thought the residual and MF would be a lot more favorable than what they were giving me, they claimed my research was flawed because there can be regional differences in the numbers being used. Furthermore, they said there's no opportunity to use any other numbers since the deal would get kicked back if they tried to use a higher residual or lower MF. they were a little put off (or acted a little put off) by my questions
about the money factor. They said, "This car is super-rare and we could sell it to another dealer right now for more than what what we'll get through VPP". From what I've read here, it sounds like he might be right?
Anyway, the other terms of the deal worked out like this:
monthly pmt of 526.xx
595.00 bank fee
45.00 doc fee
534.75 - registration fee
1st month pmt of 526.xx
drive off was approx 1700
So, I'm excited that they are willing to part with this car through VPP, but I wonder about the MF and residual they are giving me. Does anyone have any insight on that? Was my research all wrong there? Is there anything else I could or should say about those factors? Or should I just STFU and make the deal?
Thanks in advance for the help!
g35 sport 5at with nav, tech, and premium 39 month lease with 15K miles/ year
MSRP- $39,890
Cap Cost- $36,963
Residual 56%
Money factor .00213
Payment $539.91 + tax
Total out of pocket at signing $795.82
Anymore room?
Residual for sport model @ 39/mo 55%
Money factor for 39/mo .00197
Billing and handling fees- $795
Doc fees- $150
Payment stays the same at 539 + tax.
or they are offering 552 + tax for 36 mo
Splitting hairs or room for real change?
Minnesota registration for a new car is certifiably out of control, cost-wise. Based on a quote from the other dealer in town and what I've paid for the last few cars I bought in this state, this isn't too far out of whack, believe it or not. They used to charge $500 for people coming in from out-of-state to register their cars here as well, but they did change that a couple years ago...
Thanks again for your input!
$41,650 MSRP = fully loaded 07 G35x
Proposed Deal:
No money down, roll tax/tag fees into first month payment so that payments look like this:
Month Payment
----- -------
1 $815
2 $600
3 $600
4 $600
.
.
.
39 $600
Is this a good deal?
15 Months
$325/month
$3,254 down including taxes, cap reduction and other standard fees.
24 months
$375/month
$3672 down including taxes, cap reduction and other standard fees.
Can anybody offer some advice for me?
07 G35 Sport AT + Prem Package - 36 month term
Cap Cost: $34,950
Doc Fee: $45
Total Cap: $34,995
Cap Reduction: $483.28
Net Cap: $34,511.72
Residual: 56% - $20,546.40
Total Depreciation: $13,965.32
Depreciation: $387.93
Rent: $96.90
Subtotal: $484.83
Tax: $37.57
Monthly Payment $522.40
Cap. Reduction: $483.28
Tax: $83.57
License Smog Abate: $307
Gov. Fees $8.75
Advance Payments - $522.40
Bank Fee: $595
Total Drive Off: $2,000
Please let me know how and in what area I can do better... I have no idea what most of these numbers mean.
First question: I am offering $37,782-is this a reasonable offer? So far the dealer says we are close--but won't disclose his number-yet. If we agree to go with my cap cost the lease options follow:
36 Months/12k Miles/$477.57 (this is paying a total of 9 security deposits to reduce the money factor to .00086 from .00176 and paying the Lease Acq. Fee and Doc. Fee ($954) up-front.
or
36 Months/15k Miles/$499.92
A couple of questions: I have conflicting info regarding the security deposits--one dealer told me that the security deposits are based on the payment BEFORE application of the lower Money Factor--so in my case the SD would be $4950 instead of $4500. I was also told that the security deposits are taxed in North Carolina--can that be right?
I would like to close this deal--but do it right--and I'd like to pay as many fees up front as possible to avoid rolling them into the lease and paying interest on them during the course of the lease.
Any advice-comments is greatly appreciated!
As for your payments, your money factor is good, and I suppose that 1k over invoice is good for that loaded of a car. You just have to make sure that the residual is good as well.
The quote for the lease is 617 for 39 months. all that is due at singing is first month and plates so the taxes are rolled in which i would want.
What do you think of this lease.. the sticker is 37590
is it a good deal????
39 Month Lease with 15K miles/year
MSRP: $39,090
Cap Cost: $36,233.94
Money Factor: .00176??? (Rent Charge=$3,939.30)
Residual: $21,812
Final Deal = $454/Month with $2856.50 in closing costs ($655.24 Cap Cost Reduction, $454 1st Month, $152 Registration Fees, $54.88 Tax on Cap Cost Reduction, $1482.88 Sales Tax-NYC, $45 Doc Fee, $12.50 Tire Fee)
Deal or No Deal???
I have asked for some lease quotes and the F&I guy is quoting me the following money factors & residuals:
24 months .00288 65%
36 months .00191 55%
39 months .00242 54%
These seem Ihigh to me, I has specefically requested the tier 1 buy rates, I was expecting the 36 month rate to come in at .00176. Can any one confirm what the buy rate should be in Florida?
Thanks in advance,
(paid .10/mile upfront on 20k miles)
Hello,
Just picked up my car yesterday. I do high mileage being in sales.
Agreed upon value of Auto $33,992.16
plus 1,186.98 for sales tax rolled into payment.
total Gross cap cost $35,179.14
Monthly payment $575.37
total of monthky payments $13808.88
at lease signing:
Cap cost reduction of $500 and $250 for window tinting
first payment $575.37
title fees 142.00
tax on cap cost $64.69
Doc fee 45.00/12.50 tire fee
Aquistion fee $595.00
Aqu fee tax $51.32
Total: 2235.88
residual is $34,429.14
depreciation is $22875.90
= 11553.24
rent charge 2255.64 (forgot to ask what this was for)
= total base of monthly payments 13808.88/24 months=
575.37
Money factor is 1.76
I was quoted as high as $680/month on 39 months & $650 from another dealership, so I am thinking I did ok here. I went with the 24 months and a bit of a higher payment to avoid excess wear and tear, tires brakes etc right before I would need to return the vehicle on a 39 month with about 80K miles.
This way i return it with 50K miles, still under warranty and no need for new tires at that point.
What are your thoughts on this deal?
Thanks!
Sale price is $35,558 (dealer claims $1,000 over invoice which appears right)
Residual is 56%
Money factor .00176
Inception costs $1631 ($595 bank fee, $197 doc fee (BS I know), $508 1st pymt, $331 registration (dealer claims this is prepaid registration for each year of lease)
15,000 miles per year
$508/month for 39 months (tax included)
He also offered $556 for sign and drive
I was looking to get something in the $450/mo range with no more than $1000 out of pocket but the dealer said that was not possible unless he gave me the car below cost.
Am I crazy or can I do better?