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Comments
I would still have them leave the cheap plastic splash guards off
Did you find that the invoice pretty much matched the invoice numbers you see here on Edmunds, KBB, and carsdirect.com ?
What color are you getting?
Dennis
Nope, just a car nut. I have had a bunch of cars over the years and once I learned the beauty of leasing was able to increase the count by quite a few
I finally have my G broken in, but right now is perfect convertible weather so the G has been sitting most days. Getting 17mpg commuting on premium helps make it a little easier to park.
Dennis
I posted a link to the FM here in the forum at this link.
During the first 1,200 miles (2,000 km), follow
these recommendations to obtain maximum
engine performance and ensure the future reliability
and economy of your new vehicle.
Failure to follow these recommendations may
result in shortened engine life and reduced engine
performance.
Avoid driving for long periods at constant
speed, either fast or slow. Do not run the
engine over 4,000 rpm.
Do not accelerate at full throttle in any gear.
Avoid quick starts.
Avoid hard braking as much as possible
It is 1,200 long miles
Dennis
Dennis
YOUR INVITED TO THIS INCREDIBLE EVENT!!!
FOR THREE DAYS ONLY LEGACY INFINITI WILL BE SELLING ALL NEW CARS $1,000 UNDER INVOICE.
NO GAMES. The only requirement is that you need to be physically present to get this deal.
We also have over 300 pre-owned vehicles with 10 year 100,000 mile warranty included in the price!!!
CALL AND ASK FOR AN INTERNET REPRESENTATIVE!!!
My local dealer, for example, adds $1,175 (their price) of dealer installed stuff on every G before it is offered for sale. Clear bra, moonroof wind deflector, nitrogen fill, wheel locks, fabric protector, etc. They also have a $495 doc fee. So they could sell you a car $1,000 under invoice and then add the "pack" back on ("it is already on the car so you have to take it") and then their doc fee and they would still make a nice profit and you would have a bad deal.
Like I said, anything is possible, but I would expect that you would be disappointed if you tried to buy a car from them at $1,000 under invoice plus taxes.
Dennis
Z
I couldn't resist. Just be smarter than the car salesman... It really isn't that difficult.
Also looking at the TL (1k below invoice, heavily subsidized lease), so unless I can get close to invoice, the TL is a better deal.
Want to get back in an Audi, but looking at 12-16 month delay from ordering to delivery. Seems like they underestimated the demand for the S5 and would rather sell to buyers using euros.....
Dennis
The MSRP on a car equipped as listed is $38,330 with an invoice of $35,010. The IFS residual on a 24 month lease is 69% for 15k miles and 70% for 12k miles (10k miles not available on a 24 month lease). So 70% of $38,330 is $26,831. The IFS MF is 0.00126 .
If you plug the residual, MF, and payment into a lease calc and solve for the cap cost you get $33,386 which is $1,624 under invoice. Since they claim "$0 down" then they must have rolled the $595 bank fee into the cap cost which makes it $2,219 under invoice.
I don't think that is going to fly. Note that the ads say "from $349 w/$0 down". The $349 may be a base model G and the one shown will be more.
Or it could be like the NY "Deal" from a month or two back, an open ended lease.
Dennis
2008 Blue Slate Infiniti G37 Journey with premium, sports and spoiler.
MSRP $41,675
Leasing term 39 months with 15k miles:
Final Price: $40,250
Residual: $25,000
Downpayment: $1,500 (includes 1st month payment)
Monthly: $589.84 with tax
Is this a good deal? If not, what should I be aiming for?
Thanks in advance for your help!
Jason
I tried to get it down to $550 per month with tax but they wouldn't budge.
I live in Plano, TX. I have decided to go with the G37 Journey, Red/Graphite, w/ Premium Pkg & NAV. My question is do I buy now, an 08, or wait for the 09. How can I find out what, if any, changes there will be with the 09 including price? Thanks in advance for any help.
Dennis
Alan
Can I ask how you worked the deal to get to the price you paid? Did you negoiate over the internet, and did you have quotes from other dealers you used as leverage ? I live close to Pleasanton, and the deal you got seems very fair to me. Just wondering how you worked the deal and for any advice you might have.
Also, does anyone know the holdback on a G35 Journey with premium and navigation?
Thanks, Don
I wanted to get your thoughts on this deal I just received from a dealer, whch is for a G35x with the navigation pkg, premium package, wood trim, etc. The only thing I would question is their $199 doc fee, but I'm new to this and just need some good advice on whether the numbers are good or bad.
Te lease on this is the below and al lease are 15,000 miles per year and include all taxes and fees.
$498.00 for 24 months with just inception fees down ($1630.00), money factor is .00131, residual is 70%
$489.00 for 36 months with just inception fees down ($1722.00), money factor is .00150, residual is 60%
$485.00 for 39 months with just inception fees down ($1717.00), money factor is .00172, residual is 59%
2008 Infiniti G 35x
MSRP- $40,175
INVOICE- $36,785
INCEPTION FEE break down:
1st months payment
$595 bank fee
$199 doc fee
$275 or $375 motor vehicle fee (depending on term)
$7.50 nj state tire tax
$55.58 upfront taxes
Please let me know what you think and thanks.
If anyone else has any comments, feedback or advice ... I'm all ears.
Michael
Dennis
You should be able to bring this deal down at least $600-$700. I'm also in NJ and got 2 quotes from Internet sales people. One was at invoice the other was $500 over invoice, so i don't see why you shouldn't be able to get to a similar deal.
The initial quote I received from the dealer was for the following:
"Total out of pocket $3000. 12k/yr $443./mo NJ tax included for 39mo term for vehicle that has msrp of $40,825. selling for $37000..." (Infiniti of Willow Grove - PA)
After a small bidding war, this same dealer (Infiniti of Willow Grove - PA) came back on top, but the numbers are now:
"Assuming NJ taxes, $3000 due @ delivery, $435./mo. is the absolute best we can do on a vehicle that we have in stock..."
My question is: How can I "backwork" the numbers so that I can be sure that a new quote (for a 24 month lease) only changes in terms of residual and money factor? (I believe the dealer is using May's leasing rates)
--> The reason I ask is because I've decided to go with a 24 month lease, but before this dealer reworks the numbers, I want to make sure they use the same cap. cost as they did for the 36month lease.
Any help with this would be greatly appreciated! I'm anxious to get my hands on this car XD !!!
As far as going back and trying to figure out the actual selling price of the vehicle you have in mind, it would be helpful to know what the $3000 down payment includes. If part of the $3000 is the acquisition fee, doc fee, motor vehicle fee and upfront sales tax it is one thing, but if you are putting the $3000 as a cap cost reduction, it would yield completely different figures.
Total out of pocket $3000. 12k/yr $443./mo NJ tax included for 39mo term for vehicle that has msrp of $40,825. selling for $37000..." (Infiniti of Willow Grove - PA)
After a small bidding war, this same dealer (Infiniti of Willow Grove - PA) came back on top, but the numbers are now:
"Assuming NJ taxes, $3000 due delivery, $435./mo. is the absolute best we can do on a vehicle that we have in stock..."
I think this is the way to go versus handing them the $3000 and having nothing to show for it if your car ever gets totalled or stolen. Plus you get the $3888 back when you bring the car in after the 39 months. Instead of you giving them $3000 and never seeing it again, they pay you back $3888 and you save $3 per month.
does this mean that he is putting up $3000 in deposit's he'll get back later? rather than making a capitalization reduction in the amount of $3k? so he puts up $3000 now, and gets interest in the amount of $888 after 39/mo?
where is the incentive for the dealer? do they make additional interest money on the 3k? or am i simply just too discombobulated?
I don't think there is any advantage to the dealer, but there is an advantage to Infiniti. First, they get to use your money for 2 or 3 years and you have to consider that there is a cost of capital. Second, if you wind up not meeting your obligation of the lease, and lets say default on the lease, they get to keep your security deposit.
Oakland seems to be the most aggressive, with Pleasanton willing to keep up with them. The Concord guy was very helpful, but in the end wouldn't work down on price like the other two.
Hope this helps and good luck!
If the deal is $450 over invoice, then by my numbers the net cap cost would be $37235 for a car with an MSRP of $40175 and an invoice of $36785 with a monthly payment of $521.07 and an upfront cost of $1232 w/o the first month's payment or $1722 with the first month's payment.
Re-running the numbers you provided, specifically 450 over invoice is coming out at $488.70 which puts you right at that same $489 per month. So overall a solid deal.
Like you, *I* have always heard MSDs come back while cap cost reduction would be lost but I would want to make sure someone at IFS put it in writing somewhere that they would bill your insurance for full value and once paid return all of your MSD money (assuming you insurance paid out enough). Just something else to think about.
Dennis
If you have put down $3k in MSDs and your car is stolen or totalled what IFS said they would do (as told to a forum member) is take the $3k off off the amount due for the current value of the car and then expect the balance to be paid by the insurance company. The insurance company is happy to pay less than the market value of the car, if that is the case.
So if at the time the car was lost if you added up residual plus unpaid principle and interest and you got $30k. They would then expect $27k from the insurance and you would be out your MSD money. If your insurance will not pay $27k, saying current value of the car is less, then you are out $3k MSD and whatever else you owe (this is not likely).
If you paid the $3k up front the IFS would ask for the amount due and you would be out our cap cost reduction plus any difference between what your insurance pays and what the lease bank requires.
They way you and I think it should work would be for the lease bank to ask for $30k from your insurance, the insurance will pay fair market value, if that is $30k or more then the lease bank gets $30k and you get your $3k in MSDs back. If your insurance pays less then that comes out of the $3k in MSDs.
So if they do it as they told the forum member they did, your money is just as at risk with MSDs as it is with a cap cost reduction.
So what I am saying is if you are planning on doing MSDs you need to be SURE in writing how they are applied in the event of a loss. If they are merely a backstop should your insurance fail to satisfy the lease bank, then good. If they are the first thing applied to the loss, then bad.
When I have some more time I will try to search up the messages posted about this. If was most likely over in the G lease thread though.
Dennis
With IFS leases the risk only comes into play is when you have a high residual, and if by chance your vehicle is either stolen or a declared a total loss, the appraisal comes in below the actual payoff. This can happen in the early stages of the lease as the vehicle loses a lot of value immediately after you leave the lot.
There are two ways to address this issue. First you can purchase gap insurance which i believe will insure one for the difference between what one would owe on a vehicle and what an insurance company says it's worth. Second, when you buy insurance coverage you need to check with your insurance carrier if the gap coverage is built into your premium. Good insurance companies will usually provide this coverage as part of their quote, but again you need to check with them specifically on this issue. Furthermore, i'm inclined to believe that IFS itself should provide this gap coverage on every lease or finance deal as they are exposed to this same deficit in capital if in fact one of their vehicles is involved in a collision where the car is totalled or stolen.
I also don't believe that because you don't have a deposit in place you are less exposed to the same risk. Whether IFS has a deposit or not, if they are owed money they will come after your via legal avenues. So if you leased a car and your car is stolen 3 days later, why do you believe the person that doesn't have a deposit is any less responsible for the full value of the vehicle as the one who does?
Just my 2 cents.
I posted this message today about this topic and referenced what another user found out back in January when he talked to IFS and his insurance about what would happen.
I think the insurance companies handle lease cars differently. I you own your car outright then they make you happy. If you owe on in (loan) then they pay of the bank if there is enough money and give you the remainder, if any. On a lease, the bank owns it all you have no interest in it - you are renting it. So they pay off what the bank says is owed or the max they appraise - whichever is lower. Since you have ownership stake they give you nothing. As the user was told by IFS they would take the MSDs off the amount required to make them happy so the insurance would pay that reduced amount - assuming it was under appraised value.
It is like a mortgage on a home VS rent. If your house burns down the insurance pays off the mortgage and you get the balance. If you are renting and the apartment burns down the insurance pays off the folks who own the apartment, you get nothing.
Dennis