Infiniti M37 M56 Lease Questions

ghstudio · July 2006

you are sounding like a typical buyer who is just focused on the monthly lease payments. STOP! Now start to focus on the total cost of the lease...it doesn't matter if you pay up front or monthly, total up the payments for 24 months....that's your real cost. Once again, I repeat don't buy down your lease with an up front payment. If you want to save money, put that same money into a multiple security deposit which you get back at the end. Money down at the start of the lease is VERY different than loaning them money (multiple security deposits).

What's in that $5000? You should only pay the first months lease fee, dmv fees and any required taxes....no more. Anything else you pay is just an advanced payment on your monthly lease. For example, on a 24 month lease, if you give them an extra $2400 up front, your monthly lease rate goes down by $100. Sure...it's easy....just divide that $2400 by the 24 months of the lease. Did you save anything at all by giving them the money up front??? (hint: no). Give them the same $2400 as 4 multiple security deposits and your MF drops by .0004 and your monthly payments drop because you are paying less interest....AND you get the $2400 back at the end of the lease.

Read back in this forum....there's lots of good stuff that will save you money.

bgates222 · July 2006

yes as you can tell this is my first lease, someone told me the security deposits are based on your credit tier is this right? And the guy said hes dealing with nimac(nissan) not infiniti credit, i dont think that should matter since they are the same company right? he said he just did a lease for someone else of a m35x same options as mine with no money down for around 600 a month. this is AAA doesnt have security deposit they dont raise money factor and ny state wouldnt let you put multiple security deposits for tax purposes the 5000 includes 1st month payment , tax up front, bank fee, whatsevers left goes as a pre payment

ghstudio · July 2006

Your salesman is blowing smoke past you. Sit down with him and figure out the real, exact monthly costs....don't deal with "around $xxx). No down payment. If you don't deal with exact numbers, you can bet that he made a "small error" and your payments will be higher or your downpayment will be higher when the "finance manager" runs the deal.
If they start to play that game with you...just walk out...do not stop...walk... and, if there's no other infiniti dealer nearby, buy a different car...you are just asking for ongoing problems doing business with this dealer.

If your salesman has to check prices with a manager, tell him you only want to deal with someone who can set a price...you don't want to deal with a middleman. If they say this is the way we operate...walk away. Good dealers will not play the "I have to check with my manager" game..they know what they can do.

I don't know if MSD's work in NY state or not. If this is an infiniti salesman, make him deal with infiniti credit not nissan credit. If they are using nissan credit, then they are just trying to make some boggie so they get a bigger kickback...it's not in your interest.

MSD's have nothing to do with credit ratings.

kyfdx · July 2006

There could definitely be issues with MSDs in New York...

Even with the change in vicarious liability laws, there are still weird lease issues there...

bgates222 · July 2006

thanks for your help. The guy im dealing with works for AAA leasing he isnt a guy at the dealership. He says he deals with a fleet dept, he said that nissan credit/infiniti are the same company, as far as i can telll he doesnt get a commision being that he works for AAA, now if maybe he gets some kind of kickback i dont know but it wouldnt surprise me. I know AAA is supposed to help the member but who knows.

ghstudio · July 2006

Don't think for a moment that the AAA guy isn't working on a commission. Likely that he marks up the nissan/infiniti rate...or he's charging you more for the car. Why aren't you dealing directly with a dealer? If you're thinking of leasing an 06, the infiniti rates are almost 0% interest ...I bet even with imperfect credit, Infiniti leasing still works out the best.

In my experience, AAA is not doing this out of the goodness of their heart....and they are not necessarily less expensive than other sources. Since it's AAA, it is absolutely imperitive that you get any price in writing...and not deal with "smoke"...and make sure they show every cost. They may have a higher origination fee which is buried in the downpayment (quite likely). What's their disposition fee at the end of the lease?

Please get a price from the dealer as well. You should be able to negotiate a price just a few hundred over invoice...after all, the 07's are already out and available. I doubt that the AAA fleet prices are any better than you can negotiate right now on an 06 infiniti.

Compare the price and lease costs you negotiate with the dealer to the price lease rate you negotiate thru AAA. Do you know the Infiniti leasing rates....or are you relying on AAA to tell you that they are less expensive?? Compare total out of pocket dollars for the life of the lease...not the monthly payments.

bgates222 · July 2006

i actually tried a dealer before calling AAA. The guy at the dealership was quoting me 769.00 a month and the car was 48,000 but he never went over cap cost or money factor because for some reason he seemed annoyed by my questions which in turn annoyed me so i left lol

ghstudio · July 2006

Remember that the dealer you don't like will be doing the service on your car. There are good dealers and bad dealers...and good salesmen and bad salesmen. If you were a good friend, I would tell you that if you aren't happy with the way you are dealt with by the sales department, you are more than likely not going to find the service dept any more customer friendly. I love my infiniti but if my local dealer showed no interest in answering my questions and helping me, I would have bought a Lexus or BMW because those local dealers are great.

Part of my choice of a car is knowing about the dealer...and if I don't like the way a local dealer works with me, I will just look at other cars.

Think about going back to the dealer and finding another salesman...or talk to the sales manager. If he's a jerk, well then rest assured that's what you're going to find in service. If he cares about your business and gives you to an experienced salesman who will spend the time you need with you...well, then maybe you should deal with the dealer directly.

my 2 cents...

bgates222 · July 2006

i definitly appreciate the time you spent answering my questions and hopefully i put it to good use thanks again

maximafan · July 2006

bg, always keep this in mind and maybe this
will keep you from putting so much money down
on a lease: If that car gets totalled the
following month, that $5,000 you just put down
will be money that goes down the drain. You
won't recoup that. Trust me.

My Maxima was involved in a wreck two nights ago. It's possible that it may be a loss. If it is, I'll probably be walking away from my
lease like as if I completed the terms, but I
won't be getting any kind of money back. Thank
God there was no money put down on this lease.
In fact, they gave me cash back at the time of
signing!! Always keep this in mind. Good luck.

teknic · July 2006

I just leased an M35 with Journey Pkg & NAV for $1500 total down with $630 which includes WA state 9.1% sales Tax for 24 Months at 12,000 miles per year.

ghstudio · July 2006

Congratulations on your new M. There is no value in asking us if you did OK after you signed the deal; it doesn't matter...just enjoy the car.

bgates222 · July 2006

yeah i thought of that last night, i would rather have the tax and other stuff spread in the payment because as you said if anything happens i already paid it and im not getting it back

peteandbud · July 2006

I have a leased car and I am finding it is not the car for me. What recomendations does anyone have about having someone purchase your lease or trade it in - have any had experience with the Leasetrader.com

peteandbud

cacman · July 2006

IMHO leasing a car is great, as long as you are willing to "ride-out" the lease term. One of the worst things you can do is try to get out of a lease early. You will get killed on the money.

The other problem with leases is that people get talked into large down payments. YOU SHOULD NEVER PUT MONEY DOWN ON A LEASE. There are many reasons why, and you could find them by doing a search, but the bottom line is you should never pay more than 1st mo payment, SD if required, and title transfer fees. NOTHING ELSE.

As for trying to get out early on the lease, just stick with the car. Don't focus on what you don't like, and focus on what you do like about the car. It is a great vechicle - enjoy it for the next couple years, then go get something else.

joep0000 · August 2006

Can anyone fill in the following info?
Thanks

For August of 2007:

2007 Infiniti M35x (AWD)

24 mo/15k mi: Residual Value ??%  .????? Money Factor
36 mo/15k mi: Residual Value ??%  .????? Money Factor
48 mo/15k mi: Residual Value ??%  .????? Money Factor

24 mo/12k mi: Residual Value ??%  .????? Money Factor
36 mo/12k mi: Residual Value ??%  .????? Money Factor
48 mo/12k mi: Residual Value ??%  .????? Money Factor

2007 Infiniti M35 (base model with Rear Wheel Drive)

24 mo/15k mi: Residual Value ??%  .????? Money Factor
36 mo/15k mi: Residual Value ??%  .????? Money Factor
48 mo/15k mi: Residual Value ??%  .????? Money Factor

24 mo/12k mi: Residual Value ??%  .????? Money Factor
36 mo/12k mi: Residual Value ??%  .????? Money Factor
48 mo/12k mi: Residual Value ??%  .????? Money Factor

ram60 · August 2006

At last the deal is done- Many Thanks to those in this forum who offered their insight (Especially GHStudio!)

Here was the best deal I could negotiate for a Great Car:

2006 M45 Sport Journey package with Tech package etc.
MSRP - $56,700
Purchase- $49,590

Acquisition Fee - $550.00
Doc Prep - $297.50
Total Cap Cost - $50,437.50

24 month Lease -.00028 Money Factor(2MSD reduced to .00008)
Residual - 64% (reduced from 65% due to 5k mileage on car)

The inventory is getting low on 06 sports - the Umbria Grey with Stone could not be found in Atlanta. I traveled to B'Ham for it. Very positive experience with Crown Infiniti. Feel free to contact me for further perspective.

Thanks to all!

blov8r · August 2006

why did you decide to pay more per month to keep the car one year longer?

This caught my attention a couple of months ago and I've been kicking myself in the pants regularly for taking a three year lease. I've leased 4 or 5 cars and have never seen a two-year lease w/ LOWER cost than three years ... until now. I like changing cars every couple of years and figured I'd be doing myself a favor by taking three year leases to force myself not to change so quickly. Then I found out I'm dumb as a bag of rocks ... won't happen again.

I don't fully understand leasing and really don't care to sit down with an abacus and read all the fine print, but my guess is that the dealerships push the longer leases because there's more in it for them and only under duress, or being probed by someone smarter than I am, will they let that little morsel out of the bag.

Bart :shades:

ghstudio · August 2006

blov8r...It is pretty unusual that the shorter lease is less expensive than a longer lease, but it does happen. Unfortunately, the leasing person and/or salesmen many times don't even realize that's the case...they are looking at MF and residuals and you can't just look at those to see what the end effect is. For the most part 36/39 month leases are generally cheapest..and that's what most dealers just automatically quote...because that's what the consumer asks for. They want to sell a car...they don't want to get into a long discussion on why a 24 month lease may be better/cheaper.

As far as I know (and I'm not in that business), the dealer doesn't make any more on a longer lease than a shorter one.

The lesson, if there is one, is that when leasing a car, make the dealership run all the options for you (with zero money down, of course) and then YOU decide which is the best for you.

ghstudio · August 2006

ram60....you did great. Glad that I could help.

joegolfer1 · August 2006

Just noticed the local dealer has many new 2007's on the lot. My 2003 M45 (which I leased with the help of this board) is up. I was wondering if anyone knows the money factor and residuals for an M-35x for 24 and 36 months at 15K and 18K per year.

Thanks in advance for your assistance.

Bushwack · August 2006

Car_man,

Please provide the residual and MF for the following two cars. Also please work up a lease price for 36 mo/12,000 miles and 24 mo/12,000 miles (in Los Angeles). If Infiniti has a special leasing program for the 2006 model year, don't 'hold back' and share.

2006 M35 RWD
$46,790..........MSRP
$44,300..........Selling price

2006 M35 Sport
$48,190..........MSRP
$45,600..........Selling price

Thanks Car_Man.

P.S. Are the current MF and residual good thru August 31?

hiya4 · August 2006

Dealership gave me these prices yesterday. Know this is high but don't know where to start.

MSRP $50,940 (journey, splash guards, tech pack)
Cap $48,543 (including $50 doc fee and $550 bank fee)
Residual 52%
Rate 2.75 for 36 mo at 15K miles/mo
Monthly payment $873.01
Amt due at delivery $939.51 ($873.01 + $66.50 license fee)

Help!

I am ultimately looking to get a car w/o the packages listed above. Salesman quoted me wrong car. So, any info on what sort of cap cost I should be looking for on a bare bones M35X would also be appreciated. Thanks.

He said $30 more per mo for 24 mo lease. Any info on that?

blov8r · August 2006

Your 2003 M45 has a body style I think is stunning .. perhaps as good as, or darned close to, the Q45's second rendering that I still think is the best body they ever put out. There were some complaints, I've been told, that the trunk's small and the inside's cramped ... I'm almost 6' and 190 and found it comfortable and a hoot to drive. I far prefer that body style to the new one ... I believe it's more elegant. I've actually toyed with the idea of looking for a low-miler for my daily ride when my current M lease is up. Of course that's two years from now and my mood will likely change daily between now and then. But for the limited amount of driving I do it wouldn't be out of the question ... for that matter, the older Q might suffice!

joep0000 · August 2006

Infiniti is offering a special 21-month lease for the M35x.
Does anyone know the money factors and residual percentages for 12k miles/year and 15k miles/year?
Thanks

ghstudio · August 2006

Why are you asking car man to work up the prices....go to the dealer. Just make sure you know all the factors they are using (MF/residual) and any costs they are adding. Or just go to leaseguide dot com. Edmunds also has a calculator somewhere.

Other than special situations (which are rare) lease prices are the same throughout a month.

ghstudio · August 2006

If you know there's a 21 month lease, why don't you just call your dealer and ask the mf and residuals on that lease.

ghstudio · August 2006

That doesn't surprise me at all. The residuals and mf on the 2007's are not good at all right now....so the monthly cost is high. The only thing you can do to effect this is to use the multiple security deposit approach which I have talked about previously on the board. That can bring your mf down from .00275 to .00205 . Make them run the 39 month and 24 month leases to see if they have lower monthly costs as well....don't just let them wing $30 more at you.

The rate is not 2.75....the mf is .00275 which is a financing rate of about 6.6%. If you use MSD's, dropping that mf to .00205 will drop the finance rate to apprx 4.92%.

hiya4 · August 2006

Thanks for the info. Do you know if the mf and residuals on the 2006 M35x are better? Or do you know of any other incentives on leasing/buying the 06? Thanks again.

ghstudio · August 2006

The leasing rates (MF and residuals)for the 2006's are incredibly good right now....the same on the 2007's are incredibly bad. That may change when the 2006's are gone, but for now, the 2006's are a great lease buy in my opinion...and a 24 month lease on a 2006 works out to be cheaper than a longer lease as well.

hiya4 · August 2006

Thanks for your help. Could you give me the leasing rates for the 2006s for this month? I know I can ask the dealer, but I have no way of knowing whether what the dealer is telling me is true. Thanks again for your time.

wpbleaser · August 2006

Does anyone have the current numbers for MF and RV on a 2007 M45 Sport for 24, 36, and/or 39-month leases? The 2006 vehicles appear to be pretty well sold out with my desired color and option packages (at least in the southeast US), so I'll be stuck leasing a 2007. I want to calculate what I should have in monthly payments for a given negotiated cap cost, so the dealer can't "take me for a ride." Your info would be helpful and appreciated. Thanks!

hiya4 · August 2006

MSRP 51420 (Journey, splash guards, tech, XM)
Cap 48944
Resid 35994
Deprec 12950
Rent 1080.48
Total payments 14030.48 for 24 mos--total payment 623.18 including tax

My thought is I should be able to knock another $1000 off the cap cost. The residual also seems high--around 73%.

Need to make a decision soon so any thoughts appreciated

cacman · August 2006

Based on this deal, I would let someone else take the 48% hit in depreciation. Car is great, but for value, I think you are better off waiting 3 years and getting one with 36k miles for around $ 25k - JMHO -

ghstudio · August 2006

The residual is calculated off the MSRP, not your buying price so the residual in this case is 70%.

You should be able to negotiate a deal for a few hundred dollars or so over invoice right now since the '07s are out.

bdrick · August 2006

Can someone please tell me what the residual value and money factors are on '06 M35 Sport (journey/tech) for a 24-mo lease.

It sounds like there is a 21-mo deal floating around out there too, so those would be fine as well.

Thanks,

smith000 · August 2006

Leasetrader seems expensive for everyone involved. What are the terms of your lease and details on the vehicle? maybe someone here will be interested in taking it over without having to pay the middle-man.

Josh

hiya4 · August 2006

Can anyone tell me if .00053 and 70% residual are the correct rates for 8/06 for an 06 M35X for a 24 mo lease 15K miles?

bdrick · August 2006

I was just quoted MF of .00091 and residual of 71% on a 21-month lease of '06 M35 at 12k/yr.

bgates222 · August 2006

2006 m35 sport with journey and techno packages

msrp 51,690
my price (cap cost?) 47632
54% residual
.00098 money factor

0 money down tax rolled into payment 1st month payment dmv fees down only
$721 a month 36month/15k miles

ghstudio · August 2006

and give them 7 additional security deposits (750*7=$5250) which you will get back at the end of the lease and drop that mf down to .00028.

If I plug your numbers into my calculator, your payments without the MSD is $637 plus tax. If you do what I suggest, the payment drops to $584...you save $53 a month. Over 36 months, you save 36*53=$1908. If you left that $5250 in the bank at 5%, you would only earn about $828 interest over the same 36 months. deposting the money with Infinity saves you $1908-$828=$1000 ... not a bad deal at all.

bgates222 · August 2006

let me ask you this im located in new york the place that quoted me is in southern california shipping is about 1200 he said. Now ive been told that with a great credit rating they dont ask you for sec depo, can i insist on them? he also said first monthly payment is $693 which seems kinda strange to me how doesa it go back to $721 ?

joep0000 · August 2006

Thanks for your opinion.
How about posting the rates if you know them.

joep0000 · August 2006

Captive Lease Rates & Residuals - Effective 8/4/2006
2007 M35 RWD Residual Money Factor

24 mo/15k mi 70% .00228
36 mo/15k mi 58% .00239
48 mo/15k mi 44% .00275
60 mo/15k mi 35% .00285

24 mo/12k mi 71% .00228
36 mo/12k mi 59% .00239
48 mo/12k mi 45% .00275
60 mo/12k mi 37% .00285

2007 M35x AWD Residual Money Factor

24 mo/15k mi 70% .00239
36 mo/15k mi 57% .00239
48 mo/15k mi 43% .00275
60 mo/15k mi 34% .00285

24 mo/12k mi 71% .00239
36 mo/12k mi 58% .00239
48 mo/12k mi 44% .00275
60 mo/12k mi 36% .00285

2007 M35 SPORT Residual Money Factor

24 mo/15k mi 69% .00239
36 mo/15k mi 56% .00239
48 mo/15k mi 43% .00275
60 mo/15k mi 34% .00285

24 mo/12k mi 70% .00239
36 mo/12k mi 57% .00239
48 mo/12k mi 44% .00275
60 mo/12k mi 36% .00285

ghstudio -
How about making yourself useful and posting a similar grid for the 2006 model?

ghstudio · August 2006

You don't have to insist on them, it's a normal option for Infiniti leases. You can just tell them that you want to make multiple security deposits to bring down the money factor. I believe you can give them up to 7 "additional security deposits", each of which reduces your mf by .0001.

Your guess is as good as mine on why the first payment is less..it may be a NY related thing.

bgates222 · August 2006

well that sounds good ill ask and maybe i can finally get this damn car do you or anyone else whos reading know if $1200 for shipping is avg? and if anyone in the new york area reads this and knows if any dealers have any m35 sports tell me what dealer because the ones around here have maybe one or two but a ton of m35x thansk in advance

ghstudio · August 2006

$1200 to send the car across the country actually sounds low to me...but I've never done it. If it were me, I'd save the $1200 and buy a std M35. The sport does have slightly fancier seats (but not any more comfortable passenger seat), aluminum mesh dash and 19" tires but it rides MUCH harder than the 18" wheels on the standard M35. The M35 has all the same gadgets and exactly the same power. I have a good friend who bought an M35 sport two weeks before I bought my M35. He wishes he bought the M35 just because the ride on the sport was is so stiff.

Lease mf and residuals are also lower on the M35 than on the sport.

Think about it...

bgates222 · August 2006

ive also checked laot of dealers in my area it seems that every dealer i check has the 35x also am i right ? the residuals go up and the money factor goes up or down ?if i change the term from 36 to 24 months

bgates222 · August 2006

dealership in florida just gave me a money factor of .00001 on a 21 month lerase with a residual of
update
car is a m35 with jouney, nav package
no lane dept system
msrp 47950
sale price 45593
mf .00001
resid 68%
term 21/15k
0 money down
680.00 month
2940 at pickup includes 1st month ,tax, dealer fee

ny state tax is 6.37 he says you cant roll it into the payment but three other dealers i have quotes on have rolled it into the payment lol these freaking guys

ghstudio · August 2006

I think you may find that the 24 month lease may actually cost less per month...check that out. Otherwise, that looks like a good deal. BTW, It's exactly the options I have. how are you getting it to NY and is that built in the price?

Infiniti M37 M56 Lease Questions

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