They clarified: they were adding the acquisition fee to cap cost; if the acquisition fee is paid up front the monthly payment is $549 which is what I calculated.
Destination fee should already be included in MSRP and in Invoice pricing. If they try to say they are selling the car for $1k over invoice and then add destination after then they are padding the profit.
Well...first you should do more reading on the forum...it will really help you to understand what things to look for and what stuff you can negotiate. First, you need to negotiate the cost of the lease WITHOUT figuring in your trade...don't even mention it to them. You want to get the cap cost of the car as low as possible WITHOUT using any of your money for a cap reduction. Even though your monthly payment will be less, you are better off keeping the extra 3k in the bank and subsidizing your own lease and let that money earn interest...or invest it somewhere. The other thing to consider is that if you say total the car or it gets stolen and not recovered, insurance will pay for the car, but you will be out that money you put down and will still need a new car
As for the deal on the table...it doesn't look good at all. I can only estimate since I think that they recently increased the invoice and MSRP costs, but it's only by a couple hundred, so it shouldn't be that different from my calculations. It looks like you are only a few hundred off of MSRP and honestly with the 2008s coming out, you should be trying to get a 2007 for no more than $1k over invoice. The doc fee seems a bit high, but it depends on your area. I'd be pushing for no more than $100 if you can. As for the down payment, you should NOT pay $3192 in cap reduction. If you didn't change anything else, your payment would go up about $100 a month, and i know that it will make your monthly payment seem expensive, but you really are better off keeping the money yourself and then "pay" yourself the extra $100 bucks to help with the payment. That being said, I think you have room to play and can lower your payment...it will still be in the mid $500 range I bet, but you will get to keep that extra $3k in the bank.
Not sure if I explained myself correctly , but the 3192 is all part of my trade in.I am actually not putting any money down. I made the mistake in telling them that I had a trade. i should agreed to the MSRP before I infomed them of the trade.
No...I fully understood what you were saying. But you can still trade the car in and just take the excess cash with you. Don't give it back to the dealer. Basically they are going to use your own money to subsidize the new car and make the payment more attractive to you. Do some more reading here...you will see many times over that it is NOT recommended to put down money as a cap reduction. Right now, you are basically paying for a reduction that the dealer should be making. If that cash is just burning a hole in your pocket and you want to reduce your monthly payment you should look into putting down extra security deposits. I have posted about it many time here so you should be able to find some info on it. It isn't avail in all states, but if it's an option that is avail to you it might be worth considering.
I know the 39-month terms for the G35 Sedan Journey are .00213 money factor and 55% residual (vs .00194 MF and 56% residual fo the 36-month term). Not sure about the 24 vs 27 month terms.
Ok, took my G35X today. Here's the deal I recieved:
MSRP: $40,365 (Prem, Nav, Tech, Splash, Cargo) Sale Price: $37,056 ($227 over inv) Il Tax: $2460 (added to cap cost) Acq Fee: $595 (added to cap cost) Residual: 55% Term: 39 Months MF: .00193 15,000 miles Monthly Payment: $578
Thanks to everyone on this board. Leased at Infiniti of Lake County, Libertyville, IL.
It appears that from a best value standpoint the 36 month lease is the way to go. I doubt that a 24 or 27 month lease will give me a better value and lower payments than the 36 month.
I am just wondering if it would make sense to try and hold off to see if the Fed lowering their rate will have any impact in the very near future.
Does anybody know if there is a place to look up old historical rate data to possible see any future rate trends?
Honestly, I doubt that the Fed lowering the rate will have much effect on things. As for value between 36 and 39 month, I am in the camp that feels that while I might save a few bucks or so a month, in reality, I am now on the hook for an additional 3 months of payments which is probably around $1500. Not to mention that I will end up paying for a full years registration which is $300 bucks here in CA and only use it for 3 months and then I'll have to register again with my new car. Just my thoughts on it. However, there are times when they are pushing that term and offer much better financing in which case it could be worth it...it just hasn't been that way yet for me
I'm glad you got the car. In all honesty, I went there, had a few phone conversations and got very little joy from them in terms of pricing even though I told them they were not competitive. Test drove the 2007 G35 Coupe 6MT in Athens Blue when I went there.
Enjoy the car! Still figuring out the toys on mine (2007 G35 Sedan 6MT) after getting it last Saturday.
Thanks. They were not competitive until I told them the price that Gold Coast Infiniti was offering. I'm now trying to learn how to use all the great features on the car.
AS I have just taken a look at the local newspaper ads for my local Infiniti dealers they seem to be advertising pretty much all lease rates for 24 month leases.
So I would greatly appreciate if anybody knows and can share what the current MF and RV rates for the 2007 G35 Journey for 24 and 27 month with 15k miles. Maybe Car_man???
I would also put it out there, anybody hear any words on what the lease rates are for the 2008 models?
I think this is the weekend I am going to pull the trigger. :shades:
Thanks for posting this information. Do you have any idea on the residuals and money factors on the '08 G35 Sedans? I am particularly interested in the AWD model.
I live in Ohio and am considering leasing a new G35x AWD. I won't be leasing until October and would really rather get the '08. (which are not available as of yet and will be coming in to the dealership in early October) According to the dealer, the '08's will be going up around $300.00 verses the '07. Does it make sense that the residuals will be higher and offset the price increase and anything extra I will pay for the '08 or should I still be trying to make a deal on an 07? Anyone have a deal they received or are getting on an '08 G35X? I am interested in all the packages: Premium, Nav, Tech, Splashguards, and trunk cargo net. Appreciate any information.
It is definitely likely that the residual will be going up for the 2008's, however the MF will also not be as favorable for the 2008's as they are for the 2007's. Your best deal will easilly be for any 2007's that are still around.
In order to figure out the true value of your lease you need to also list the MSRP as well as the purchase price, how many months the lease will be for (24,36,39) and how much, if any, you are going to be putting down (cap reduction, tags, doc fee, 1st month).
I am in FL also and going to be getting lease figures in the next few days and will post what I negotiate from the dealers.
Their number is grotesque! I'm presently paying $612/ month for a 39 month lease on an M35 sport/journey/tech with MSRP of $53K, and I got that lease the first month the M hit the market (April of 2005). I put $1K down. Bart :shades:
I couldn't find any info so I had to go it alone. Just picked up last night: Didn't have to ground my 06 6mt yet, so I've got 2 of them for 1 week. Gonna burn the miles on the old one. :shades:
Blk 6MT, Premium pkg, splash guards, trunk mat, cargo net for 38,825. Lease MF .00285, residual 63%, 39 mo I did the unmentionable and paid 2990.66 down becuase I wanted my payment close to 500 per mo. I didn't tell them that though, just added money in the end. - Drive off was 4122.50. Contract says base monthly payment 475.16 and tax 39.20 for total mo payment of 514.36
Below are fees on contract: Acguisition Fee 595 Registration Fee 317 Tax on cap cost 246.73 Doc Fee 45 CA Tire 8.75
glad you got the car you wanted. Next time you want to put down money to lower your payment, you should look into putting down addl. security deposits. You could have put down about 5 addl. deposits and lowered the MF to .00235. Your monthly payment would not have been lowered as much initially, but at the end of the lease you would get the security deposits back...so in the end you would have saved money monthly and get to keep that $3k.
I'm planning on leasing the 2008 G35 Journey Sports w/ premium pkg in Black Obsedian. Can someone guide me if these numbers the dealership gave me make sense.
Capitalized Cost 34,499(I have VPP on Infiniti) Tax (6.25%) 2,156 Doc Fee 50 Bank Fee 595 License Fee 145 TOTAL CAP 37,445 Cap Reduction 2,399 NET CAP 35,046 RESIDUAL (53%) 19,729 Total Deprec. 15,317
I'm putting $3,000 toward TT&L and first payment. CAP REDUCTION 2,400 Advance Payment 600
Rate is 3.8% term is 39 months
MONTHLY numbers they gave me: Depreciation 393 Rent 208 Monthly Pmts 600
this number didnt sound right to me so he went back and told me he can go down to $550/month, I asked him how he did that? He's told me he played with the money factor and residual. I dont even know what the money factor is on this.
this is my first car Im leasing, so I dont know much, can someone help me out here and tell me where i can negotiate this deal if there is any cushion, thanks in advance
Something sounds fishy. First of all...if they are going to use VPP, then there shouldn't be any playing with the money factor or residual...which makes me think that you aren't actually getting to use VPP for this deal. If they are using VPP, they should have no problem punching in the numbers and then giving you the print out of the deal first...then you can post it here and people can look at it for you. The other thing you should do is search online for Infiniti VPP and see how it is calculated. You should have all the numbers you need to plug into their formula and you can figure out exactly what the VPP payment should be and you can see if they are accurate or not. Personally it sounds like they are feeding you a line. Also, you should not put that much down as a cap reduction....and is that in addition to the $3k for TT&L? That is crazy if you are putting almost $6k upfront on a lease. What VPP plan are you on...or did the dealer just tell you that they are giving you the VPP deal?
Im on plan D, Im putting 3k down which covers TT&L and first payment thats all im putting down (2,400 is reducing the cap and 600 is the payment). and yes he did give me a print out with all the numbers, Im just not sure how he dropped 50 bucks per month like that.
2 questions, on a lease does we have to pay the whole 6.25% in tax? or just part of it? also, what is the money factor for the 2008 journey sports on a 36 and 39 month?
Tax depends on your location. Some places make you pay the total tax on the entire vehicle. Other places only make you pay the tax on the portion of the car you are paying for. I'm not exactly how Plan D calculates, so I can't say for sure, however it still seems like a high payment. $550 a month (not including tax) for a Sports Sedan w/ Premium only seems very high to me...especially on VPP. I was on VPP Plan C (which is probably only marginally better than Plan D) and got a FULLY LOADED 2007 G35 for $580 INCLUDING tax and that was back in January when the car had only been out for like 2 months. Do some searching online and see how they calculate the VPP Plan D and post it here if you find it.
OK...so I just calculated it based on the same VPP plan D that they had for the 2007's and based on the new numbers for a 2008 journey, they are definitely not giving you a straight deal. First of all, with the amount of money you are putting down your payment should probably be around $525/month since you are paying the tax upfront...and you are paying tax on the WHOLE car..not just for the rental period. You should double check to make sure that you need to pay the full tax upfront in your area...if not they you are way overpaying. Basically, these guys aren't giving you a true VPP deal. I figure that they are probably adding about another $800 bucks or more to the deal. Now...given that this is a new model year and it just came out, it might not be that bad of a deal to pay $1200+ over invoice. The VPP deal would be about $270 over invoice and if they are sweetening the deal for them by another $800-900 then you are still only paying about $1200 over invoice on a new car. However, I don't like the fact that they are telling you that you have VPP but aren't giving you the VPP deal. It may still be a decent deal, but they are trying to make you feel like you got a GREAT deal.
2008 G35 Journey Sedan Sports with premium pkg, 15k miles Plan D say its invoice less 1.65% so im guessing 34,500 is the 1.65% less invoice.
ok so I calculated based on the $550/mo he is giving me.
MSRP 37,250 BASE CAP COST 34,500 (with VPP Discount) COSTS(Doc, Bank, License, Tax) 2,946 (total tax, TEXAS) TOTAL CAP 37,445 CAP REDUCTION 2,399 NET CAP 35,046
Residual (55%) from 53% 20,331 Money Factor 0.0032 equivalent to 7.68% Terms 39 Sales Tax Rate (6.25%)
Monthly pmt is 550
Depreciation is 14,557 Finance Charges 6,931 Downpayment 2400 (600 was advance pmt) TOTAL cost for 39 months is 23,888
Did i calculate this right? help me out here please, should the money factor be around .0022 ?
Please tell me how i should negotiate with the dealer?
Also where do i see the security deposit in all this, or is that in addition to all this? is it true the more i put in security deposit the less the money factor is?
First...I have to say that I made a mistake when I calculated the numbers...I had an error in my spreadsheet so it was off a bit. As for your calculations, I'm not really sure where you are getting your numbers from. If you go to edmunds and look at the invoice of a Journey w/ Premium, Sport, and splash guards and cargo net (these are basically standard), the invoice before destination charge is $33217. If you subtract 1.65% ($548) from that it's $32669. Now you add 2.5% destination fee ($817) and the $715 Freight/delivery fee and your adjusted Cap cost is $34200. If tax is 6.25% you get about $2138. Now, if you are paying the tax, title, 1st month, and $595 acquisition fee all up front, then you don't even need to worry about calculating it. You should only calculate the cap cost with the MF and residual. Where did you get your residual number from it doesn't make sense to me. also, is that the MF that they quoted you because it seems high...unless your credit is not very good. Also, how many miles per year did you ask for as that affects the residual. As for security deposit, are you sure you need to put one down? I'm not sure how it is in texas, but here in CA I put down addl. security deposits to lower the money factor. You have to put a min of 2 down up to a maximum of 9. Each addl. security deposit reduces the MF by .0001. Do a search and you'll see many posts on it (I've written MANY)
VPP pricing just applies to the price of the car w/destination. The dealer is under no obligation to let you lease it at the buy rate and they can stick you with a doc fee and make you pay for any "dealer installed options" on the car you pick. Of course, the dealer is not under any obligation to honor the VPP price either, but they usually tell you that up front
On a VPP deal, the lessee needs to find a dealer ship that honors VPP pricing, charges no doc or prep fee, and does not mark up the lease money factor. No dealer can change the residual, it is set by IFS. Then you just pick a color and options and all the numbers work out for a sweet deal. Once you give the dealer the VPP code and pick a car they have to show you the invoice which includes the VPP price.
A lesee with a VPP claim code is probably better off to wait for an 08 rather than take an 07. The residual is much lower on the left over car, but the MF is discounted more - the number may work out to be a wash or even better for the 08. You get the rear view camera with the nav package and the ipod interface and a few other changes.
Dennis, I talked to you about a month ago and you seemed very knowledgeable about Infiniti leases... I was wondering if you can give me an opinion on my deal I got at the end of Aug.
G35x AWD SEDAN WITH PREM. PACKAGE: 24 MONTH LEASE (10,000 MILES) 2700 DUE AT SIGNING (FEES,CAP, TAXES AND FIRST MONTH PAYMENT) MSRP -37,465 INVOICE - 34,528 SELLING PRICE - 33,898 NY SALES TAX - 8.375 RESIDUAL - (BOOK) 67% (NET) 68% MONEY FACTOR - .00169 MONTHLY PAYMENT - $450.00
Does anyone have the latest lease rates? I'm looking for a 07 G35 Sport Sedan with nav. I was working with a Houston dealer this weekend and the best I could get was $1200 over invoice. I didn't hear back from him with I said I wanted IFS rates without dealer markup...
You got it for less than invoice and your rate is right at 4% effective APR, sounds like a good deal to me. I don't understand the residual "book" and "net" numbers, but the dealer can't change the residual so you have no worries about them changing that on you.
The only problem you are going to have is that the 24 months will go by too fast and you will not want to give your car back .
$1,200 over invoice for a left over 07? I would laugh at them and try other dealers. They should be unloading 08 sedans off the truck this week but may have received some last week - they need to discount the 07 cars at lot more to get you to take one of those.
I have the September numbers from this board, thanks BTW.
I was looking for the October numbers. Today a dealer quoted me a residual of .58 and a MF of .0028 for a 08 Sport with Auto. Are these the actual IFS numbers or do they have dealer margin???
I think it has only been posted a 'zillion' times, the dealer can't change the residual that is set by the lease bank. So no need to worry there.
You don't state the term or miles, but last month it was (for an 07 w/15k miles per month):
2007 Infiniti G35 Sport Sedan 24 Month - Residual 64% of MSRP - .00180 Base Rate 36 Month - Residual 55% of MSRP - .00191 Base Rate 48 Month - Residual 43% of MSRP - .00241 Base Rate 60 Month - Residual 35% of MSRP - .00259 Base Rate
I would expect the residual would be higher by several points for the 08 but the MF may also be higher as well. We have not seen the 08 sedan, 08 coupe, and any 07 numbers for October yet. If you can find an 07 equipped like you want run the numbers (when available) on it VS the 08 and lease whichever one is the best deal, if similar just get the 08.
I have had real good luck just asking the dealer "Is this the buy rate or do you mark it up, and if so by how much" and I normally get an honest answer.
Alright guys. I know I didn't do much research of getting the car, but I was able to get my wife her new 2008 G35. I only based my negotiation on the special lease deal they have on 2007's and I think I did alright.
This is her lease info.
She was pretty upside down on her previous car. About $4K.
But we were able to lease the new car as follows: 2008 G35, with 15K a year for 42 months lease
MSRP $33,000 (Including wheel locks, cargo net, mudflaps, tint on front windows and etc) Actual price $31,500 Residual value $16,804 (53%) Acquisition fee $595 TT&L $2250 (In Texas, u have to pay the full amount for tax) Out of pocket $4000 Monthly payment is $585
Believe me, I think it was a good deal considering that if she would have to keep her old car, she would have to put lots of money into it. Let me know what do u guys think.
They priced out how much it would be for a 39 month lease and the monthly payment was lower but the MF and residual wasn't as good as the 24 month deal.
I am kind of kicking my but on that because I think I should have just got the 39 month since i put 2700 at signing and if i dont decided to buy it at the end of the lease i cuold have stretched it out another yr.
I spoke with my salesman and he told me I could extend the lease to 6 months or possibly longer (he said it was negotiable).
I made 3,000 when my coupe got flooded after I got my money back from Geico so the 2700 due at signing didn't bother me to much since it was all profit anyway. The buy out of the car after two years is around 24,000 so I might just buy it out. I love it so far by the way :shades:
You always have to look at all the options, often they have a shorter term lease that nets out a lower (or the same) payment as the longer lease. Honda, for example, had some 24 month leases that were lower per month than the normal 36 month leases earlier this year. The residual will always be higher on a shorter term, but you have less time to pay off the depreciation so NORMALLY the 24 month lease will cost you a good bit of money more than the longer terms - but you always have to check it to be sure.
I've got one lease under my belt with a 2007 Lexus RX400h, but am posting the offer I received today for a 2008 G35 Journey with Nav, Premium, Tech pkgs and wood trim (VPP Pricing) in South Florida. I'd love to have any feedback on whether the terms are solid.
MSRP - $39,175 Cap Cost - $35,981.93 39 month 12k miles/year MF of 0.00249 57% residual monthly payment of $495.26 + 7% tax = $529.93 $1,356.17 to cover acquisition, 1st month's payment and TT&L.
-or-
MSRP - $39,175 Cap Cost - $35,981.93 36 month 12k miles/year MF of 0.00241 59% residual monthly payment of $499.88 + 7% tax = $534.87 $1,361.06 to cover acquisition, 1st month's payment and TT&L.
The VPP pricing locks you in and they should show you the price on the invoice, so no wiggle room for the dealer there.
Ditto the lease residual, dealer can't change it.
What they can change is how much, if any, they charge for "doc" or "prep" fees. If you are paying much, then you might find a better dealer. They can, and do, mark up the lease money factor as well. We have not seen the October numbers so I can't say if you are paying buy rate or a marked up rate.
0.00249 = 5.976% and 0.00241 = 5.784% which are not super low rates but they are not super high either. A 3rd party lease rate would be 0.00254 with a 55% residual on a 36/36k lease, not a lot of savings for the IFS lease.
The last number I saw on the hot selling G37 coupe was 0.00285 for a 36 month lease, but left over 07 sedans were 0.00194. Back in June it was 0.00178 with a 57% residual for a 36/36k lease, so your offered 36/36k deal has a residual 2% higher but a 1.32% higher rate. Could just be normal, IFS not offering as cheap a deal at the start of a new model year, or could be dealer mark up.
Comments
Vehicle price: 37,864
cap cost reduction: 3,192
Adj.Cap cost reduction : 34,671
Residual : 21,513
Depreciation: 13,158
Rent: 5,193
Total of base payments: 18,351
# of payments: 39
Base Payment: 470
Monthly tax(6%) 28
total payment: 498
This deal is contingent on me trading in my car and the dealer giving me 5,000 to cover the following
cap cost reduction: 3,192
Doc Fee: 299
Sales Tax : 245
1st Month payment: 498
Aqustion. Fee: 595
Lic. Fees: 160
Total drive off: 5000
Please any help is great!! I have this deal on the table!!
As for the deal on the table...it doesn't look good at all. I can only estimate since I think that they recently increased the invoice and MSRP costs, but it's only by a couple hundred, so it shouldn't be that different from my calculations. It looks like you are only a few hundred off of MSRP and honestly with the 2008s coming out, you should be trying to get a 2007 for no more than $1k over invoice. The doc fee seems a bit high, but it depends on your area. I'd be pushing for no more than $100 if you can. As for the down payment, you should NOT pay $3192 in cap reduction. If you didn't change anything else, your payment would go up about $100 a month, and i know that it will make your monthly payment seem expensive, but you really are better off keeping the money yourself and then "pay" yourself the extra $100 bucks to help with the payment. That being said, I think you have room to play and can lower your payment...it will still be in the mid $500 range I bet, but you will get to keep that extra $3k in the bank.
MSRP: $40,365 (Prem, Nav, Tech, Splash, Cargo)
Sale Price: $37,056 ($227 over inv)
Il Tax: $2460 (added to cap cost)
Acq Fee: $595 (added to cap cost)
Residual: 55%
Term: 39 Months
MF: .00193
15,000 miles
Monthly Payment: $578
Thanks to everyone on this board. Leased at Infiniti of Lake County, Libertyville, IL.
It appears that from a best value standpoint the 36 month lease is the way to go. I doubt that a 24 or 27 month lease will give me a better value and lower payments than the 36 month.
I am just wondering if it would make sense to try and hold off to see if the Fed lowering their rate will have any impact in the very near future.
Does anybody know if there is a place to look up old historical rate data to possible see any future rate trends?
Enjoy the car! Still figuring out the toys on mine (2007 G35 Sedan 6MT) after getting it last Saturday.
So I would greatly appreciate if anybody knows and can share what the current MF and RV rates for the 2007 G35 Journey for 24 and 27 month with 15k miles. Maybe Car_man???
I would also put it out there, anybody hear any words on what the lease rates are for the 2008 models?
I think this is the weekend I am going to pull the trigger. :shades:
2007 6mt, No Trade, want full clear bra
Option1
Diamond Graphite/Graphite
41355 MSRP (prem, nav, , sirius, 4was, painted splash, mats)
38599 sell price/adjusted gross cap
.00182 money factor
54% residual
42 mo/12k
498.20 pmnt
out of pocket = 595 acquisition, 498.20 first, plates (80), bra 799, doc fee = 250 == 2222.20 + tax total out of pocket
Option 2
Same as above (less 4WAS, + full clear bra already installed)
40590 MSRP
37750 Sell Price/Adjusted Gross Cap
.00182 money factor
54% Residual
42 mo/12k
485.53 pmnt
out of pocket = 485.53 fist + 498 doc + 80 (lic) + 595 acquisition == 1658.53 + tax total out of pocket
Hi:
New to the board and wanted to see if anybody in Florida has received good lease rates from any dealers.
Been quoted S.P. of 35215, $764.21 upfront, residual $21,700, 5%interest and payments of $554.78.
Premium pkg, Tech pkg.
Thank you, John
I am in FL also and going to be getting lease figures in the next few days and will post what I negotiate from the dealers.
Blk 6MT, Premium pkg, splash guards, trunk mat, cargo net for 38,825. Lease MF .00285, residual 63%, 39 mo
I did the unmentionable and paid 2990.66 down becuase I wanted my payment close to 500 per mo. I didn't tell them that though, just added money in the end. - Drive off was 4122.50. Contract says base monthly payment 475.16 and tax 39.20 for total mo payment of 514.36
Below are fees on contract:
Acguisition Fee 595
Registration Fee 317
Tax on cap cost 246.73
Doc Fee 45
CA Tire 8.75
I'm planning on leasing the 2008 G35 Journey Sports w/ premium pkg in Black Obsedian. Can someone guide me if these numbers the dealership gave me make sense.
Capitalized Cost 34,499(I have VPP on Infiniti)
Tax (6.25%) 2,156
Doc Fee 50
Bank Fee 595
License Fee 145
TOTAL CAP 37,445
Cap Reduction 2,399
NET CAP 35,046
RESIDUAL (53%) 19,729
Total Deprec. 15,317
I'm putting $3,000 toward TT&L and first payment.
CAP REDUCTION 2,400
Advance Payment 600
Rate is 3.8%
term is 39 months
MONTHLY numbers they gave me:
Depreciation 393
Rent 208
Monthly Pmts 600
this number didnt sound right to me so he went back and told me he can go down to $550/month, I asked him how he did that? He's told me he played with the money factor and residual. I dont even know what the money factor is on this.
this is my first car Im leasing, so I dont know much, can someone help me out here and tell me where i can negotiate this deal if there is any cushion, thanks in advance
2 questions, on a lease does we have to pay the whole 6.25% in tax? or just part of it? also, what is the money factor for the 2008 journey sports on a 36 and 39 month?
Plan D say its invoice less 1.65% so im guessing 34,500 is the 1.65% less invoice.
ok so I calculated based on the $550/mo he is giving me.
MSRP 37,250
BASE CAP COST 34,500 (with VPP Discount)
COSTS(Doc, Bank, License, Tax) 2,946 (total tax, TEXAS)
TOTAL CAP 37,445
CAP REDUCTION 2,399
NET CAP 35,046
Residual (55%) from 53% 20,331
Money Factor 0.0032 equivalent to 7.68%
Terms 39
Sales Tax Rate (6.25%)
Monthly pmt is 550
Depreciation is 14,557
Finance Charges 6,931
Downpayment 2400 (600 was advance pmt)
TOTAL cost for 39 months is 23,888
Did i calculate this right? help me out here please, should the money factor be around .0022 ?
Please tell me how i should negotiate with the dealer?
Also where do i see the security deposit in all this, or is that in addition to all this? is it true the more i put in security deposit the less the money factor is?
Thanks in advance, you guys are very helpful!!
On a VPP deal, the lessee needs to find a dealer ship that honors VPP pricing, charges no doc or prep fee, and does not mark up the lease money factor. No dealer can change the residual, it is set by IFS. Then you just pick a color and options and all the numbers work out for a sweet deal. Once you give the dealer the VPP code and pick a car they have to show you the invoice which includes the VPP price.
A lesee with a VPP claim code is probably better off to wait for an 08 rather than take an 07. The residual is much lower on the left over car, but the MF is discounted more - the number may work out to be a wash or even better for the 08. You get the rear view camera with the nav package and the ipod interface and a few other changes.
Dennis
G35x AWD SEDAN WITH PREM. PACKAGE:
24 MONTH LEASE (10,000 MILES)
2700 DUE AT SIGNING (FEES,CAP, TAXES AND FIRST MONTH PAYMENT)
MSRP -37,465
INVOICE - 34,528
SELLING PRICE - 33,898
NY SALES TAX - 8.375
RESIDUAL - (BOOK) 67% (NET) 68%
MONEY FACTOR - .00169
MONTHLY PAYMENT - $450.00
Anyway I'm still in the market.
The only problem you are going to have is that the 24 months will go by too fast and you will not want to give your car back .
Dennis
Dennis
I was looking for the October numbers. Today a dealer quoted me a residual of .58 and a MF of .0028 for a 08 Sport with Auto. Are these the actual IFS numbers or do they have dealer margin???
You don't state the term or miles, but last month it was (for an 07 w/15k miles per month):
2007 Infiniti G35 Sport Sedan 24 Month - Residual 64% of MSRP - .00180 Base Rate
36 Month - Residual 55% of MSRP - .00191 Base Rate
48 Month - Residual 43% of MSRP - .00241 Base Rate
60 Month - Residual 35% of MSRP - .00259 Base Rate
I would expect the residual would be higher by several points for the 08 but the MF may also be higher as well. We have not seen the 08 sedan, 08 coupe, and any 07 numbers for October yet. If you can find an 07 equipped like you want run the numbers (when available) on it VS the 08 and lease whichever one is the best deal, if similar just get the 08.
I have had real good luck just asking the dealer "Is this the buy rate or do you mark it up, and if so by how much" and I normally get an honest answer.
Dennis
Also, current MF/Res for G35 sedan (journey) for 24 and 36 months with 12K miles.
Thank you,
m-
This is her lease info.
She was pretty upside down on her previous car. About $4K.
But we were able to lease the new car as follows:
2008 G35, with 15K a year for 42 months lease
MSRP $33,000 (Including wheel locks, cargo net, mudflaps, tint on front windows and etc)
Actual price $31,500
Residual value $16,804 (53%)
Acquisition fee $595
TT&L $2250 (In Texas, u have to pay the full amount for tax)
Out of pocket $4000
Monthly payment is $585
Believe me, I think it was a good deal considering that if she would have to keep her old car, she would have to put lots of money into it. Let me know what do u guys think.
I am kind of kicking my but on that because I think I should have just got the 39 month since i put 2700 at signing and if i dont decided to buy it at the end of the lease i cuold have stretched it out another yr.
I spoke with my salesman and he told me I could extend the lease to 6 months or possibly longer (he said it was negotiable).
I made 3,000 when my coupe got flooded after I got my money back from Geico so the 2700 due at signing didn't bother me to much since it was all profit anyway. The buy out of the car after two years is around 24,000 so I might just buy it out. I love it so far by the way :shades:
Enjoy your new car!
Dennis
MSRP - $39,175
Cap Cost - $35,981.93
39 month 12k miles/year
MF of 0.00249
57% residual
monthly payment of $495.26 + 7% tax = $529.93
$1,356.17 to cover acquisition, 1st month's payment and TT&L.
-or-
MSRP - $39,175
Cap Cost - $35,981.93
36 month 12k miles/year
MF of 0.00241
59% residual
monthly payment of $499.88 + 7% tax = $534.87
$1,361.06 to cover acquisition, 1st month's payment and TT&L.
Ditto the lease residual, dealer can't change it.
What they can change is how much, if any, they charge for "doc" or "prep" fees. If you are paying much, then you might find a better dealer. They can, and do, mark up the lease money factor as well. We have not seen the October numbers so I can't say if you are paying buy rate or a marked up rate.
0.00249 = 5.976% and 0.00241 = 5.784% which are not super low rates but they are not super high either. A 3rd party lease rate would be 0.00254 with a 55% residual on a 36/36k lease, not a lot of savings for the IFS lease.
The last number I saw on the hot selling G37 coupe was 0.00285 for a 36 month lease, but left over 07 sedans were 0.00194. Back in June it was 0.00178 with a 57% residual for a 36/36k lease, so your offered 36/36k deal has a residual 2% higher but a 1.32% higher rate. Could just be normal, IFS not offering as cheap a deal at the start of a new model year, or could be dealer mark up.
Dennis