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Infiniti G37 Lease Questions

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    kyfdxkyfdx Moderator Posts: 237,185
    Hann Financial does a lot of leases in NY, especially back when there were problems with the liability laws, and the captive financial companies weren't writing them...

    That stated, that payment looks awfully low, and I'd be interested to see exactly what $0 down will entail, as far as money due at signing..

    Also, be aware that independent banks are generally much stickier about end-of-lease condition and charges..

    It would be hard to pass up a $100/mo. savings though, if it turns out to be a legitimate quote.

    regards,
    kyfdx

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    ej1111ej1111 Member Posts: 48
    I wonder if they lease in NC... :)
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    blov8rblov8r Member Posts: 567
    Or in Arizona. Can't hurt to ask!

    Bart :shades:
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    dwynnedwynne Member Posts: 4,018
    I am curious to see their MF and residual to come up with this payment. The IFS residuals seem inflated to me and the MFs (for Feb) are less than most 3rd party banks offer - so I don't see how they can offer the deal.

    It could also be a big come on, like this is only for Hann's "Super preferred tier" which may start at 830 or something. For folks with "less worthy" credit than an 830 the rate and payment work out to a quite a bit higher.

    If I lived in the area and wanted a G, I would still check it out though :D .

    Dennis
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    blov8rblov8r Member Posts: 567
    NOTE: Only Hann Financial authorized appraisers can render a condition report of your vehicle. Do not leave your leased vehicle at a dealer unless directed to do so by Hann Financial.

    Charges
    Disposition Fee - This charge applies to vehicles that are returned and can be found in your lease agreement. The charge is designed to offset expenses associated with the sale of the vehicle.

    I picked this up on their website. They've left themselves plenty of wiggle room, especially on the "Disposition Fee". For a few extra bucks I'd feel safer with IFS because they're just "walk away" at lease end unless the car's beaten up. Stay within the mileage limit (no problem for me) and bring it back in good shape and there's no unpredictable liability.

    BTW, someone posted that IFS tried to add an $875 insurance tab to their deal and they declined it. I actually opted FOR it because window tinting (a necessity in AZ) and new tires at lease end are included ... and at $400+ per tire on the G35 Sport I come out ahead. By a lot! Bart :shades:
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    alang4alang4 Member Posts: 40
    I just had my 2005 G35x inspected, leased through Hann. I never had a problem with them, although I had heard they were really bad about damages on a lease return, so I was really dreading the inspection today. I thought I was going to have a couple of thousand in repair costs. I have a couple of small dents on my doors, and someone keyed one of my doors, plus there's some bumper damage, the result of parking in a dense urban environment.

    So the inspector looked at the car, said that the dents and key-ing were considered normal wear and tear for Brooklyn, and said that her major concern was the bumper. A total of about $162.00 plus the disposition fee ($450, I think), and I'm done.

    Other people may have had a problem with Hann, but I can say my experience was not bad at all, although I'm not thrilled I signed an agreement with a disposition fee.

    2008 G35X, here I come!
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    dwynnedwynne Member Posts: 4,018
    Most of that is standard stuff - you have to let the bank's chosen inspectors look at the car when/before you turn it in. Captive lease banks are usually more forgiving on damages and some even have pre-set "forgiveness" in the lease (AHFC is $1,500 total).

    The disposition fee is pretty standard in 3rd party leases since this covers paying a dealer/auction lot to take the car and covers transport from where you turn it in to where they auction it off.

    Note in your actual lease contract the amount will be spelled out, so it will not be a mystery and can be figured into the lessee's decision to go with Hann or not.

    Dennis
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    ej1111ej1111 Member Posts: 48
    Has anyone received concrete info on this? Ive been emailing and all seems legit but i havent received any firm numbers or contract paperwork. Im still not sure i can do it in my state, but they sure are convincing that the pricing is legit!
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    emmissemmiss Member Posts: 16
    Am in the same boat as you thus far. I am still waiting on paperwork after having spoken with them again today. It all sounds very promising but just a bunch of rhetoric over the phone.
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    alang4alang4 Member Posts: 40
    Hi All,

    I just received some numbers from a NYC-based dealer, and I am wondering if this is a good deal.....wondering if the group members (especially Dennis, who has been so incredibly informative) can assist.

    G35x w/Premium and wood
    MSRP $37,775
    Invoice $34,604
    Sell Price $35,350
    12K miles
    MF 1.73
    Residual 59%

    $494 / month

    This would be the 3rd Infiniti I lease from this dealer, but I don't think I'm getting any kind of special break here.

    Thanks in advance - your opinons are appreciated!

    Alan
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    blov8rblov8r Member Posts: 567
    At the very least, Alan, IFS should give you the best possible lease rate. If your credit is great they've got almost nowhere to go.

    Bart :shades:
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    ej1111ej1111 Member Posts: 48
    I talked to them, its an open ended lease which kills it for me. Otherwise its legit.
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    kyfdxkyfdx Moderator Posts: 237,185
    open ended lease

    I didn't think anyone did those, any more... :surprise:

    Scary!

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    kyfdxkyfdx Moderator Posts: 237,185
    open ended lease

    I didn't think anyone did those, any more... :surprise:

    Scary!

    Edmunds Price Checker
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    Did you get a good deal? Be sure to come back and share!

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    dwynnedwynne Member Posts: 4,018
    I called that one, it was item #6 of things to check on the lease that sounds too good to be true .

    This is just another balloon payment scheme and everyone should stay far, far away from it.

    Dennis
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    ej1111ej1111 Member Posts: 48
    We all knew you had to be something...i wonder what residual they are expecting. Im going to continue to pursue since ive come this far to see what the final numbers turn out to be...
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    dwynnedwynne Member Posts: 4,018
    Infiniti will loan you the money to by a new G37 or G35 at 2.9% for 60 months, there is no way you will come out even CLOSE to that on this deal.

    In order to drive the payment down to get you to call/come in they must have inflated the residual to some insane level - and with the open end lease you have to buy it at that price at lease end - using whatever you can find for a used car loan.

    Even if they used a low MF for the lease, having to buy out the bulk of the car at used car rates will cost you. But I would bet the MF is pretty normal or even high, the low price is set by the residual in this case. Since this "lease" is just you buying the car in the end, get the 2.9% from IFS and save yourself a lot of money.

    Even doing an IFS lease then buy is going to be cheaper than going with this deal, I feel real sure.

    Dennis
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    ej1111ej1111 Member Posts: 48
    I dont disagree at all, however the way it works is i turn in the car at the end but would be responsible for the difference between market value and residual. So at this point, im curious as to what they are calling the residual.
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    miaomayamiaomaya Member Posts: 3
    Hello All,

    I have a dealership willing to make the following offer on a 2008 G35x:
    Premium and Navigation Packages, 39mo/12K, $3000 out the door, $459/mo?

    What do you all think?
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    dwynnedwynne Member Posts: 4,018
    Rule #1 is getting a good lease deal is to negotiate the price of the car.

    How much are you paying for the car, including destination and any dealer "doc" or "prep" fees?

    Dennis
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    miaomayamiaomaya Member Posts: 3
    2008 G35x with Premium, Navigation Packages, 24 mo/10K, $3000 out the door, $429/mo???

    Is this a good deal?
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    miaomayamiaomaya Member Posts: 3
    I was just told the price I'm getting it for is $37000.
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    kimk1kimk1 Member Posts: 3
    I am looking at purchasing a G35x w/premium package. The dealer is willing to sell me the car at $500 over invoice. He is telling me I will not be charged any document fees or additional fees. However, the color I want is not on site so he is telling me I would be charged $300 for them to transport the car from another dealership. Is this a legitimate charge? Also, regarding the destination charge that is added to all vehicles, is it the same regardless of where you live in the U.S? Thanks!!
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    dwynnedwynne Member Posts: 4,018
    You have to pay the destination charge (fee to deliver the car to the dealer that ordered it).

    This other fee is a "locate" fee. I would assume some dealer a few hundred miles away has the color and options you want so this is the charge the dealer incurs for sending a flatbed truck to haul your car back to his dealership. They may be trading cars (one of a different color for yours), in that case they load up a car at your dealer and haul it to the dealer with the color you want then haul yours back.

    As long as they are doing it on a flat bed and the dealership with the car is a good distance away, this would be a legit charge. If they are paying someone to DRIVE your car back then it is not - since your car will have all those extra miles on it and possibly some paint chips when you get it. If the dealer is across town or something then the fee is a rip off - even if they do use a flat bed.

    $500 over including fee is not a bad price, if you are set on a color they do not have and do not have on the way you can:

    1) Pay the fee and get what you want
    2) Find a dealership that has the car you want and try to negotiate a similar deal - note that almost every Infiniti dealer has a doc fee >= the locate fee your dealer wants to charge.
    3) Take a color they have in stock
    4) Wait for one to come in
    5) Ask the dealer to pay part of the locate fee for you - after all $500 over is not a smoking hot deal these days. So maybe they could kick in $100 or even 1/2 the fee for you?

    Dennis
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    randyjstarkrandyjstark Member Posts: 99
    Ok all, I wanted to start out by thanking you all for your help. After contemplating a HANN lease, I decided my best option was to go straight with Infiniti.

    I negotiated a price with the dealer as follows on a 2008 g35x with premium in ember garnet:

    MSRP 37,325
    Invoice 34,216
    Sale 34,416

    Note: As an "extra" dealer included Splash gards $300, cargo net $70, and winter car mats $79 to sweeten the deal.

    Based on these numbers and 9% sales tax (on PA lease) the dealer came up with the following for a 24 month lease through IFS with 0 down, other than for the "fees" at signing:

    RS 25,754
    MF .00123
    24 months, 15k/yr
    474.06/month

    Now, the dealer said this is based on $1321.11 fees due at signing which includes bank fee $595, bank fee tax 53.55, $55 doc fee, tire tax $5, $138.5 state fee and first months payment $474.06 Paying a grand total after the lease is finished of: 12,224.49

    -- Not too bad.

    But, being the good consumer I am, I would opt to do the max amount of multiple security deposits (Totalling 9 more deposits) Does infiniti allow for 9 multiple security deposits or is it 8?

    This would reduce the MF by .0009, going from .00123 to .00033 and have the following effect on the deal overall.
    monthly payment: 415.04
    Fees at signing 1262.09 + Multiple Security Deposits
    For a grand total after the lease of $10808.01 , a whopping 1416 cheaper! And, of course, I would get the Multiple security deposits back at lease end (which could be used on a new lease or toward the purchase of the car.)

    Does this seem like a good deal or did I screw up the math somewhere? Looking to do this by the weekend so any help would be appreciated!

    Thanks,
    Randy
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    alang4alang4 Member Posts: 40
    I think I am getting a great deal here, but Dennis could I ask you to please validate it for me?

    G35x
    Premium / Nav / Wood
    MSRP $39,925
    Invoice $36,525
    Sale Price $36,137 - below invoice
    Residual $22,665
    MF 0.00149
    12K miles
    39 months
    $466, including NYS tax, 8.375%
    If I pay $1000 taxes at signing, monthly goes down to $436
    Due at signing $466 + plates

    Now I'm excited and can't wait to pick up the car!
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    abhutaabhuta Member Posts: 20
    Hey everyone. Does anyone know the 24 month rate and residuals for the 2008 G35 (not awd)? Thanks for looking out.
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    llmaurollmauro Member Posts: 10
    That deal does sound great alang4! I finally closed on my g35x awd today. I wish I understood all the numbers but here's how it eventually played out. I ended up with a 36mo/15K lease for $517 per month. Doesn't sound great, but I ended up paying $595 bank fee, $249 doc fee, $10 temp plate fee, and $517 1st month up front for a total of $1371. Then, the dealer cut me a check back for $1500 to me to cover bank fee, doc fee, and temp plate fee, and then a $650 check back to cover existing last 2 lease payments for a total of $2150 back.
    It looks like the final sale price on a $39475 MSPR was $38600 (according to the paperwork), but actually minus the $2150 back so when its all said and done $36450. However, I still have to pay 6% sales tax in my state b/c NH has no sales tax. It was very confusing but this way I really end up paying only the tax down.
    I'm so confused and I don't know if this is a good deal but the g35x is SWEEET!

    p.s. did I just get screwed?? :confuse:
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    dwynnedwynne Member Posts: 4,018
    If I plug in the selling price, residual, term, and MF into the old lease calc I get $433.05 per month. If I roll in the $595 bank fee I get $449.19 per month.

    In NY they tax has to be paid up front but is based on the payment, so I assume you are going to roll that in? If I take the base payment ($449.19) and figure the tax on each x 39 the total tax would be $1,467.17 and rolled into the lease would make a payment of $489.00 per month.

    So your dealer's numbers don't add up, to me. However, they are lower than what I figure unless I messed up :D .

    Dennis
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    dwynnedwynne Member Posts: 4,018
    I posted those here in the forum last week, just look back through the older messages.

    Dennis
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    dwynnedwynne Member Posts: 4,018
    My head hurts too :D .

    I don't know what to tell you about that deal. It sounds like if you take the listing selling price less the $2,150 you have a nice price, but then you paid the $249 doc fee and bank fee up front. The payment with no tax on it sounds kind high and will go up to $548.02 when you add in the 6% state tax, right? That sounds really high for an x for 36 month lease.

    You kept your existing lease vehicle and will turn it in at the end of the lease, right?

    If not, then I am not too sure about this deal. I will have to think on it when I have more time.

    Dennis
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    llmaurollmauro Member Posts: 10
    Yes Dennis I have not turned in my old lease. I will keep it for 2 more months. I will have to pay the tax up front to VT when I register the G, so my payment will remain at $517. Yes, the pymnt would have been about $544 per mo if the tax was included, but this is still with the net checks back to me of about $800 from the dealer. So after I pay my taxes of $933 to VT, I came out with about $100 and change out of pocket at $517 per mo.
    thanks, Larry
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    llmaurollmauro Member Posts: 10
    Dennis,
    I went with this lease deal because It was the best deal I could get. I phoned 2 other Infiniti dealers (both in PA) and they quoted me around $500 per month with tax included (36mo/15k) on MSRP of 39475. But they were also with about 2K due on delivery. Both places quoted selling prices of 38,000 and wouldn't budge. (It's kind of hard to negotiate over the phone). That 38K figure was also the starting point for the deal I made. What is with that #???
    Larry
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    abhutaabhuta Member Posts: 20
    Got'em. Thanks.
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    alang4alang4 Member Posts: 40
    So I bought my car today. Last night the dealer called me and apologized up and down that he made a mistake, and that the correct number was $17/month higher. I thought it was complete BS, but the price was still lower than I was able to find anywhere else. I was just extremely wary of additional charges, but there were none. I paid $500 under list, so $36,025 on a list of $39,775. With $1000 down, my payment on a 39 mo/ 12K is $453.

    And I'm happy. I pick up the car tomorrow. BTW, I don't suggest anyone take the 24 month lease option on these cars, as it will probably take you that long to personalize the car...there's so many gizmos and options in the Nav package... ;)

    Funny thing....I went to one of the credit bureaus and got my credit score of 747, but when I sat down with the finance guy, he got scores of 842, 798 and 822!!

    And BTW, the new color scheme on the dashboard is WAAAY COOL!
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    llmaurollmauro Member Posts: 10
    I think I'm going to stop reading these because I realize I didn't get too good of a deal on my G. But the car is fantastic, isn't it!!
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    awd2003awd2003 Member Posts: 54
    I too am looking to lease the same car with those options. My deal is for 36 months and 10k miles 61% and .00149 $39965msrp and $36525 cost
    I was quoted $396.00 monthly with 9 Multiple security deposits plus Aquisition, plates, doc fee.
    The part of the deal that is unclear is out of pocket is $6800
    Thanks for your input
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    vince1313vince1313 Member Posts: 8
    I was wondering if the inspection company can charge you for service that is due on the vehicle at the time of the inspection - or theoretically, will be due when car is officially returned to Infininti. For example, the 15K service - what if you turn in the car with 15,500 and haven't had that serviced done on your car? I've never had this issue come up, but I wanted to know what the rules were here.
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    jgrace5jgrace5 Member Posts: 7
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    jgrace5jgrace5 Member Posts: 7
    Ooops...

    Journey Coupe w/
    Illuminated Kick Plates
    Navigation
    Premium
    Splash Guards
    Sport Pkg
    Trunk Net
    Trunk Mat

    MSRP - $43,645
    Cap - $39,437.91
    MF - .00205
    Due at signing - Approx $800 "including first month, sales tax on that, tag cost, and various recycling stat fees" says dealer.

    IS it a good deal and Please tell me if my math is right. 24 month/15k by the way.

    Residual - $30,987.95
    Depreciation - $8449.96

    352.08 Dep. + 144.37 Interest = 496.45 Base Payment

    496.45 * 1.07 (Sales Tax) = $531.20 per month payment????

    Thanks
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    dwynnedwynne Member Posts: 4,018
    Gee, didn't I say the dealer's numbers were too low :D .

    I still had different numbers than your new, higher numbers but I think I am still over what your dealer has - so that is not terrible.

    I agree on the 24 month, it is just too short (unless you just hate the car). One thing to think about is that the tires are expensive to replace on all the Gs, and for sure on the sports pack cars - those are insanely high. The soft, sticky rubber will not last too long - so maybe those with 24 month leases can get by w/o changing the tires before their lease is up - but those with longer leases will likely have to. If you don't, and turn the car in with too little tread IFS will charge you back for the new tires they put on the car. Just something to think about.

    They use the "auto enhanced" credit score, so you must have a lot of paid off loans and leases. That boosted your score from 747 up by quite a bit - you were top tier in any case :D .

    Congrats on the new G, in any case! Did you tell us what colors you are getting?

    Dennis
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    dwynnedwynne Member Posts: 4,018
    Yes, they can. As part of the lease agreement you have to keep the car maintained to the manufacturer's recommended service schedule. You don't have to have the work done at an Infiniti dealer, but you do have to have it done - and save the receipts "just in case".

    They can also get you for tires as well, in your contract they state the minimum acceptable tread depth at turn in. If you turn in your car with too little tread left they will charge you for new tires.

    In general, you should always get a pre-lease turn in inspection done a month or so before time to turn the car in. They should let you know what, if any, extra charges you can expect at turn in. Then you make the choice to fix/replace/service before turn in or let them charge you for the extras.

    This only applies if you actually turn the car in, if you were to trade it to a dealer for the buy out price (or above) then none of this would apply. Just make sure your paperwork shows you traded and not turned in.

    Dennis
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    johnelwayjohnelway Member Posts: 10
    Is that on a G37?

    Just started looking at them today - beautiful cars.

    Can I ask which dealer and which state?

    Thanks for any help you can offer.
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    dwynnedwynne Member Posts: 4,018
    It looks like the new MSRP and invoice on a coupe with those options are $43,895 and $39,913. The sticker on yours is $250 lower - so I will assume the invoice on yours is $250 lower, or $39,663 .

    Your cap is $225 under invoice, which is a nice thing. Any dealer fees? Your numbers seem a bit shaky on the amount due at signing and no where do I see the $595 bank fee. If that is included in the cap then your deal just turned red hot :D .

    When I plugged in the numbers you show I get the same payment you do.

    I show the G37 journey buy rate is 0.00200 and not the 0.00205 you show, at the buy rate the payments would drop to $527.44 per month. Maybe not enough to pitch a fit over, if you really are getting the car under invoice including destination and dealer fees.

    Still don't see the bank fee, I think when they go to write it up that will be remembered and either rolled into the cap or due at signing.

    Dennis
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    dwynnedwynne Member Posts: 4,018
    I should have also added my sports pack tire warning.

    It may not apply to you on a 24 month lease, but you are getting 30k miles - and I doubt the OEM rubber will last that long.

    The sports pack sedans and coupes (except for the x sedan) and different sized front and rear tires and wheels so you can't rotate them for longer life. They are also super sticky rubber and will not last long. If you price online replacement tires (TireRack,DiscountTireDirect, etc) you will see one option in the sizes for the sports pack and they are really high. Non-sports pack cars have a lot more options and at a lot less money.

    Your lease contract will spell out minimum acceptable tread depth at turn in - probably 4/32" (1/8") - if you turn it in with less they hit you up for a new set of tires at THEIR price.

    Just something to think about if you are buying an automatic journey G - it just may not be worth it to get the sports pack or the tire and wheel upgrade - you pay more now and could pay a lot more when the car needs new tires.

    Dennis
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    jgrace5jgrace5 Member Posts: 7
    Thanks Dennis. I asked the dealer to break down all the fees due at signing for me. I am waiting to hear back. I have received quotes from 4 different dealers and even though the MF was marked up on this deal, it was marked up much less than the other three. I saw .00215 and .00240 and none were willing to lower to make a deal...

    I got another quote from the same dealer on a vehicle that did not have the sport package, splash guards, or trunk mat, and it only lowered my payment by about $18. You still think it's worth it to avoid sport?
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    dwynnedwynne Member Posts: 4,018
    I don't care for the splash guards, mat, and cargo net. I have all three (they were on the car so I had to take them), but they are overpriced and don't really add to the car. So that is a plus.

    The sports pack is the sport seats with thigh support (nice, but try them on for size before you decide), the paddle shifters (if you want to shift, buy a 6mt), and the tires and wheels, the LSD (nice) and other things.

    •A/T Paddle Shifters .•Wheels: 19 x 8.5J" Fr & 19 x 9J" Rr Aluminum-Alloy .• Lightweight cast..•Tires: Fr P225/45R19 92W & Rr P245/40R19 94W
    Low Profile tires with 225mm width, 19.0" rim .• Summer performance tires..•Sport Tuned Suspension .•Sport Front 4-Piston/Rear 2-Piston Brakes .• 14.0 x 1.3 front and 13.8 x 0.8 rear. Includes Infiniti logo..•Sport-Styled Seats .• Includes driver's seat and passenger's seat manual thigh extension and driver's seat power torso and thigh bolster..•Viscous Limited Slip Differential .•Includes unique front fascia and side sills, sport-styled steering wheel stitching and aluminum pedals..

    The cost at invoice should be $1,595, which is not a bad deal if you want all that stuff. But on a 24 month lease $1,595 should save you $66.46 per month plus interest and not the $18 your dealer said. I would drive both and see if you can live without the sport pack.

    Go to TireRack and check, the current price for the OEM tire set (the only thing available in those sizes) is $978 plus shipping and possibly tax and then you have to pay mounting and balancing. The non sport pack tires are not a lot cheap, but some, at $648 + shipping and stuff. The G35 sedan non-sport tires are much cheaper,.

    It is your car, get what you want. I just like to remind folks these tires are not cheap :D.

    Dennis
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    dwynnedwynne Member Posts: 4,018
    I screwed up the sport pack amount in my earlier reply, and the forum does not let us go back and edit our mistakes.

    The invoice on the sports pack is $1,595, but your lease residual is 71% - so you only have to pay for 29% of the package. So that is $462.55 and if you divide that by the 24 month lease term you get $19.28 per month plus interest. So the sports package does not cost that much more per month.

    Sorry for the earlier error, mis-type in haste and repent in leisure :D .

    Dennis
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    ilcapoilcapo Member Posts: 4
    What should you be paying for a G35 Sedan, leasing with 24 months. base, x, and sport??? With 0-down.

    is this possible???

    http://newyork.craigslist.org/mnh/car/571648319.html

    Thanks
    Joe
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    dwynnedwynne Member Posts: 4,018
    OK, one more time on this - and maybe I will get it right this time :D .

    Buying the sports pack increases the MSRP of the coupe by $1,850.00 and since your residual factor is 71% your residual goes up 71% of the difference or $1,313.50. The invoice cost of the package is $1,595 so (everything else being the same) you have to pay the difference between the invoice increase and the residual increase which is $281.50 or $11.73 per month more plus interest.

    There, I think I finally did it right that time - sorry for the confusion.

    Dennis
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