2015 Infiniti QX60 Lease Questions

hash2

Leaseguy3, what pricing are you getting on the lease in NV? Are you working with Las Vegas dealer or you are in Reno?

On your question about rolling taxes into Net Cap - that just doesnt make sense. As you said, they should just charge taxes upfront just the way it is done when you pay upfront money towards cap cost reduction.

Also, did you try to convince them to just issue you a check of $1000 instead of rolling that into lease cap cost reduction? Especially given that after MSDs the MF is close to 0 so you are not really saving much through downpayments....

kyfdx

leaseguy3 said:

kyfdx said:

leaseguy3 said:

Michaell said:

motwo22 said:

Michaell said:

motwo22 said:

leaseguy3 said:

motwo22 said:

chairman3660 said:

motwo22 said:

So I finally got a dealer to bite on the exact pricing I was shooting for. Only downside is the exterior color is not my top choice (interior is dark though which would have been a deal breaker other wise). Keep in mind I'm doing this for 12k miles and my tax rate here in VA is 4.1% (but it is taxed on full price car, not just monthly), I was able to get them down to $510 a month on an MSRP of $59,275. This also includes infiniti premium maintenance thrown in, meaning there was probably another $15 or so room in the monthly without it. I am going to do 5 MSDs though to drop the MF down to .0001. On my way now, will report later if any surprises pop up or anything else goes wrong. If I get it, I'll post the details of all the numbers which can hopefully help you out.

yes please post it , all the best

So here are my final numbers, very surprisingly better than what I had discussed with them on the phone...I'm still scratching my head looking for the "catch";

2015 AWD qx60 for 39 months /12k miles per year
MSRP = $59,340
Cap Cost = $47,111.6
Tax = $2078.79
Title/License/Registration = $67.75
Acquisition Fee = $700
Infinity Service Contract (maintenance) = $1685
Doc Fee = $599
Total Gross Cap Cost = $52,251.14
Residual = $33,230.40 (56%)
Depreciation = $19020.74
Rent Charge = $333.40
Total Of base monthly Payments = $19,354.14
Number of payments = 39
MONTHLY PAYMENT = $496.26

Due at sigining $3,246.26 which includes:
- Refundable Security Deposit = $2750.00 (which dropped my Money Factor to .0001)
- First Monthly Payment = $496.26

Disposition Fee = $395.00

Awesome experience with the dealership too. They are helping me get a few dings and scratches fixed up on my current leased car (Cadillac ATS through Ally Financial) also so I wont get hit for it on the turn in.

1. How did they come up with 2750 for MSD? Thats $458.33 per MSD unit when divided by 6. How did they calculate your MSD value? Was it based on pre or post MSD money factor?

2. You paid taxes on the entire amount of the MSRP, should only be paying it based the monthly depreciation value. In other words, your taxes should not be included in your total cap cost. This may be a VA thing though that you have to pay tax on the entire value of the car, I'm not sure?

I am currently working a deal and am confused as they are trying to base the MSD on the total monthly payment with the PRE-MSD money factor (.00061) instead of basing it on the post MSD money factor (.00001)

Does anyone know how the MSD is supposed to be calculated?

There were 5 MSD payments of $550 each (they said 5 was the max to get down to .0001). MSD payments are calculated using the pre-MSD money factor rounded upto nearest $50. My pre-MSD payment was $539 I think so it was rounded up to $550.

I am having a hard time trying to figure out which amounts they taxed and why. But in VA you do pay tax on the full amount of the leased car unfortunately. And not only that, you also get a property tax bill yearly on it too

I believe VA is one of a handful of states that levies sales tax against the entire selling price, even on a lease (MD, GA and TX are the other states I'm aware of).

Are you at least able to write off the 'personal property tax' on your federal taxes? I know I can with them here in CO.

Yes, you can write off the property taxes. And you also do get a bit of a break when you first buy/lease the car. The normal tax rate is 6% here in VA but at purchase/lease you pay 4.1%.

Thanks for clearing that up.

Michael

I am close to closing my deal. However, they are telling me that when I trade in my car, which has equity, on the deal that I have to pay taxes on the equity. Example:

Trade in Equity $1,000
Pay $81 (8.15% in Nevada) They then roll the $81 into Net Cap.

Is this accurate? Why would I pay taxes on equity when I have already paid taxes on the car when I bought it?

Thanks

You aren't paying tax on the equity exactly, you are paying the tax on the $1000 you are putting down on the lease, as that lowers the payment (thus lowering the tax paid to the government).

So in essence, you pay 100% of the taxes owed on the depreciated amount (in Nevada), I get it now, thanks. However, by placing the taxes owed ($81) into the Net Cap, aren't I then paying taxes monthly, on the tax amount that was placed in the Net Cap? Wouldn't it be advantageous to include the taxes ($81) in my drive off amount? This way I don't pay tax on tax. Correct?

You don't really pay tax on tax.. $81 for tax, $919 for CAP cost reduction.. So, the tax is collected upfront, and the balance is put towards CCR.

manalive

Hello everyone,

I need some assistance in reviewing the offers I received for a lease from a NJ dealership for a 2015 QX60 floor model with 771 miles on it. I am a NYC resident and buyer and my sales tax is 8.875%. Below are the details:

2015 QX60 AWD premium package, and premium plus
MSRP $53,020
Residual 56%
Residual amount $29,691.20
Adjusted residual (less mileage adjustment of 771 miles x $0.10/mile) $29,614.10
39 months/12,000 a year
Rent/lease charge $1,817.06
Total payments $20,241
$519/month lease payment
Disposition fee $395
Purchase option fee $300

Option 1
Sales price $48,038.16
Gross Cap Cost $48,038.16
Customer Cash (total out of pocket) including 1st month lease $3,866.52
Net Cap Cost $48,038.16
Depreciation $18,424.06

Upfront charges ($3,866.52 as follows)
1st month lease $519
Doc fee $499
Upfront fees $290 (no idea what this is, probably registration)
Upfront taxes $1,858.52
Acquisition fee $700

Option 2
Sales price $47,912.54
Doc fee $499
Acquisition fee $700
Cap Fees $290
Gross Cap Cost $49,401.54
Cash reduction $1,363.59
Customer Cash (total out of pocket) including 1st month lease $3,800
Total Cap reduction $1,363.59
Net Cap Cost $48,037.95
Depreciation $18,423.85

Upfront charges ($3,800 as follows)
Total cap reduction $1,363.59
1st month lease $519
Upfront taxes $1,917.41

Is this a good deal? The salesman wouldn't let me start with negotiating the sales price. He insisted on working to meet a monthly out of pocket budget. I definitely do not want to put down any down payment. Please let me know if you need additional details. They offered to throw in the 1st year's maintenance.

Michaell

manalive said:

Hello everyone,

I need some assistance in reviewing the offers I received for a lease from a NJ dealership for a 2015 QX60 floor model with 771 miles on it. I am a NYC resident and buyer and my sales tax is 8.875%. Below are the details:

2015 QX60 AWD premium package, and premium plus
MSRP $53,020
Residual 56%
Residual amount $29,691.20
Adjusted residual (less mileage adjustment of 771 miles x $0.10/mile) $29,614.10
39 months/12,000 a year
Rent/lease charge $1,817.06
Total payments $20,241
$519/month lease payment
Disposition fee $395
Purchase option fee $300

Option 1
Sales price $48,038.16
Gross Cap Cost $48,038.16
Customer Cash (total out of pocket) including 1st month lease $3,866.52
Net Cap Cost $48,038.16
Depreciation $18,424.06

Upfront charges ($3,866.52 as follows)
1st month lease $519
Doc fee $499
Upfront fees $290 (no idea what this is, probably registration)
Upfront taxes $1,858.52
Acquisition fee $700

Option 2
Sales price $47,912.54
Doc fee $499
Acquisition fee $700
Cap Fees $290
Gross Cap Cost $49,401.54
Cash reduction $1,363.59
Customer Cash (total out of pocket) including 1st month lease $3,800
Total Cap reduction $1,363.59
Net Cap Cost $48,037.95
Depreciation $18,423.85

Upfront charges ($3,800 as follows)
Total cap reduction $1,363.59
1st month lease $519
Upfront taxes $1,917.41

Is this a good deal? The salesman wouldn't let me start with negotiating the sales price. He insisted on working to meet a monthly out of pocket budget. I definitely do not want to put down any down payment. Please let me know if you need additional details. They offered to throw in the 1st year's maintenance.

Wouldn't let you negotiate the sales price? I'd probably work with another dealer, if that's the case.

And I agree with you about the down payment - there are some up front costs you can choose to pay at signing (taxes, fees, etc.), but any sort of cap reduction is frowned upon.

chairman3660

motwo22 said:

motwo22 said:

So I finally got a dealer to bite on the exact pricing I was shooting for. Only downside is the exterior color is not my top choice (interior is dark though which would have been a deal breaker other wise). Keep in mind I'm doing this for 12k miles and my tax rate here in VA is 4.1% (but it is taxed on full price car, not just monthly), I was able to get them down to $510 a month on an MSRP of $59,275. This also includes infiniti premium maintenance thrown in, meaning there was probably another $15 or so room in the monthly without it. I am going to do 5 MSDs though to drop the MF down to .0001. On my way now, will report later if any surprises pop up or anything else goes wrong. If I get it, I'll post the details of all the numbers which can hopefully help you out.

yes please post it , all the best

So here are my final numbers, very surprisingly better than what I had discussed with them on the phone...I'm still scratching my head looking for the "catch"; 2015 AWD qx60 for 39 months /12k miles per year MSRP = $59,340 Cap Cost = $47,111.6 Tax = $2078.79 Title/License/Registration = $67.75 Acquisition Fee = $700 Infinity Service Contract (maintenance) = $1685 Doc Fee = $599 Total Gross Cap Cost = $52,251.14 Residual = $33,230.40 (56%) Depreciation = $19020.74 Rent Charge = $333.40 Total Of base monthly Payments = $19,354.14 Number of payments = 39 MONTHLY PAYMENT = $496.26 Due at sigining $3,246.26 which includes: - Refundable Security Deposit = $2750.00 (which dropped my Money Factor to .0001) - First Monthly Payment = $496.26 Disposition Fee = $395.00 Awesome experience with the dealership too. They are helping me get a few dings and scratches fixed up on my current leased car (Cadillac ATS through Ally Financial) also so I wont get hit for it on the turn in.

Can you please share dealer location in VA?

manalive

@Michaell would you take the offer if it were you as is? If not, what changes would you want to make?

Michaell

manalive said:

@Michaell would you take the offer if it were you as is? If not, what changes would you want to make?

Sorry, I don't make decisions with other people's money.

If you are comfortable with the selling price and there aren't any extra fees, and the math works out, no reason not to pull the trigger.

chairman3660

After further negotiations this is now what I am getting for QX 60 AWD 2015

term 39 months , 15000 miles per year

MSRP 59275

Sales price 51224.25

Title & reg fee 1244.00

processing fee 22.00

Gross cap cost 52,491.00

Residual 32008

Cash cap reduction - 570.99

Acquisition fee 700.00 ( which I am paying upfront )

Cash Down ( i.e. first month payment + "Acquisition fee" ) 1300

Net Cap Cost 51,920

sales tax 6%

Monthly payment 591 / month including tax

If I apply 5 MSDs @ 600 per MSD then the payment comes down to 555 / month incl tax

Please advise how this looks

Michaell

chairman3660 said:

After further negotiations this is now what I am getting for QX 60 AWD 2015

term 39 months , 15000 miles per year

MSRP 59275

Sales price 51224.25

Title & reg fee 1244.00

processing fee 22.00

Gross cap cost 52,491.00

Residual 32008

Cash cap reduction - 570.99

Acquisition fee 700.00 ( which I am paying upfront )

Cash Down ( i.e. first month payment + "Acquisition fee" ) 1300

Net Cap Cost 51,920

sales tax 6%

Monthly payment 591 / month including tax

If I apply 5 MSDs @ 600 per MSD then the payment comes down to 555 / month incl tax

Please advise how this looks

I get $594/mo without MSD. Pretty close to your numbers.

chairman3660

Michaell said:

chairman3660 said:

After further negotiations this is now what I am getting for QX 60 AWD 2015

term 39 months , 15000 miles per year

MSRP 59275

Sales price 51224.25

Title & reg fee 1244.00

processing fee 22.00

Gross cap cost 52,491.00

Residual 32008

Cash cap reduction - 570.99

Acquisition fee 700.00 ( which I am paying upfront )

Cash Down ( i.e. first month payment + "Acquisition fee" ) 1300

Net Cap Cost 51,920

sales tax 6%

Monthly payment 591 / month including tax

If I apply 5 MSDs @ 600 per MSD then the payment comes down to 555 / month incl tax

Please advise how this looks

I get $594/mo without MSD. Pretty close to your numbers.

Thankyou Michaell!

danidin

Hi for March in LA 2015 QX60 base FWD 39/10 what is the residual and money factor without and with 5 MSDs?
thanks!!

Michaell

danidin said:

Hi for March in LA 2015 QX60 base FWD 39/10 what is the residual and money factor without and with 5 MSDs?
thanks!!

.00061 and 56% for 39/10.

5 MSDs take the MF down to .00020 or .00010

danidin

thanks Michaell!! is it going to be different for the one with premium package?

Michaell

danidin said:

thanks Michaell!! is it going to be different for the one with premium package?

No - individual options or packages do not affect the numbers.

mahdimad

Hello
looking for residual and MF for base model in Texas for both 39/12 and 39/10 please
thank you 

Michaell

mahdimad said:

Hello
looking for residual and MF for base model in Texas for both 39/12 and 39/10 please
thank you 

AWD or FWD?

mahdimad

Fwd please

kyfdx

mahdimad said:

Hello
looking for residual and MF for base model in Texas for both 39/12 and 39/10 please
thank you 

mahdimad said:

Fwd please

.00061 MF and 55%/56% residual

jandrew718

Hello, looking for residual/MF for both FWD and AWD 39/10. Nashville, TN. Thx!

jandrew718

2015 and 2016 if possible. thx

Michaell

jandrew718 said:

Hello, looking for residual/MF for both FWD and AWD 39/10. Nashville, TN. Thx!

jandrew718 said:

2015 and 2016 if possible. thx

2015
FWD - .00061 and 56%
AWD - .00060 and 57%

2016 questions go here:

http://forums.edmunds.com/discussion/38998/infiniti/qx60/2016-infiniti-qx60-lease-questions?new=1

rdan2422

39 month lease- Do these number for AWD - .00060 and 57% apply to California also? does 12k miles per year change residual to 59%?

Michaell

rdan2422 said:

39 month lease- Do these number for AWD - .00060 and 57% apply to California also? does 12k miles per year change residual to 59%?

39/12 for 2015 QX60 AWD - .00060 and 56%.

rdan2422

Thank you!
I have to deals working right now, I think I am leaning towards the first option, their MF seems closest to the .00060
Option 1:-Southern California dealer
2015 QX60, AWD-PREMIUM PACKAGE
MSRP $48.095.00
Discount $-8,000
selling price $40,095.00
39 month lease, 12k miles $405 month incl tax, $2k drive off

Option 2 -Northern Cali dealer
2015 QX60 AWD-Premium & Prem plus package
MSRP $51.595.00
Discount $10,000

Selling price $41,595.00
39 month lease, 12k miles, $499 a month, without taxes and fee's, $2k drive off

Option 2 dealer isnt giving me much addl info, so assuming they are marking the MF way up.
Deal #1 looks pretty solid, correct? anything i might be missing?

Michaell

rdan2422 said:

Thank you!
I have to deals working right now, I think I am leaning towards the first option, their MF seems closest to the .00060
Option 1:-Southern California dealer
2015 QX60, AWD-PREMIUM PACKAGE
MSRP $48.095.00
Discount $-8,000
selling price $40,095.00
39 month lease, 12k miles $405 month incl tax, $2k drive off

Option 2 -Northern Cali dealer
2015 QX60 AWD-Premium & Prem plus package
MSRP $51.595.00
Discount $10,000

Selling price $41,595.00
39 month lease, 12k miles, $499 a month, without taxes and fee's, $2k drive off

Option 2 dealer isnt giving me much addl info, so assuming they are marking the MF way up.
Deal #1 looks pretty solid, correct? anything i might be missing?

Yeah, I'd agree that deal #1 is better .. I get $412/mo if I assume the tax rate is 9%.

rdan2422

Can a dealer change the residual percentages in addition to the MF? is the 0.00060 and 56% just a guideline by Infiniti and a dealer can decide if they want to offer or not?

Michaell

rdan2422 said:

Can a dealer change the residual percentages in addition to the MF? is the 0.00060 and 56% just a guideline by Infiniti and a dealer can decide if they want to offer or not?

MF can be marked up by the dealer. Residual is set by the bank and cannot be modified.

rdan2422

I asked the dealer for option #2 to confirm MF and residual % being used, they confirmed .00060 and residual of $29,170.

again here is what they are proposing
MSRP $51,595-$10K Discount = $41,595.00, 39 month lease, 12k miles per year, $2k drive off and $499 payment

When I calculate the deal out I am getting a $390 payment incl 9% Sales tax. Am I really missing anything here?

Michaell

rdan2422 said:

I asked the dealer for option #2 to confirm MF and residual % being used, they confirmed .00060 and residual of $29,170.

again here is what they are proposing
MSRP $51,595-$10K Discount = $41,595.00, 39 month lease, 12k miles per year, $2k drive off and $499 payment

When I calculate the deal out I am getting a $390 payment incl 9% Sales tax. Am I really missing anything here?

Ask for the net cap cost .. and how they got to that number from the $41,595 selling price. That should reveal a lot about the deal.

danmgy11

Two questions hoping you can give some insight on ... 

Is Infiniti offering the pull ahead program this month? 

What is the RV for both FWD and AWD on a 39 month and 15k miles lease?

Thanks!  

kyfdx

danmgy11 said:

Two questions hoping you can give some insight on ... 

Is Infiniti offering the pull ahead program this month? 

What is the RV for both FWD and AWD on a 39 month and 15k miles lease?

Thanks!  

FWD: .00061 MF and 53% residual
AWD: .00060 MF and 54% residual

No info on pull ahead programs

dduran1

rdan2422 said:

I asked the dealer for option #2 to confirm MF and residual % being used, they confirmed .00060 and residual of $29,170.

again here is what they are proposing
MSRP $51,595-$10K Discount = $41,595.00, 39 month lease, 12k miles per year, $2k drive off and $499 payment

When I calculate the deal out I am getting a $390 payment incl 9% Sales tax. Am I really missing anything here?

can you let me know who dealer 1 is? looking for something similar.

dduran1

Hi all. Any thoughts on this deal. Need to make a decision tomorrow, so would appreciate any insight. 

kyfdx

@ddruran1 The calculations are exact.

If you are happy with the selling price (+$599 dealer fee!), then it all looks good.

Any reason for making the $1000 CAP reduction, or are you just trying to keep the payment under $500/mo.?
(About $519/mo. with only 1st payment due at signing)

dduran1

kyfdx said:

@ddruran1 The calculations are exact. If you are happy with the selling price (+$599 dealer fee!), then it all looks good. Any reason for making the $1000 CAP reduction, or are you just trying to keep the payment under $500/mo.? (About $519/mo. with only 1st payment due at signing)

@kyfdx ya, told them want to keep payment under $500 so this is what they came back with.

This deal includes sourcing from another dealer, and a 4 month early turn in of my Infiniti. Just want to make sure there's nothing I'm missing and that the markdown is consistent with others deals for 2015.

rdan2422

can you let me know who dealer 1 is? looking for something similar.

deal #1 was Infiniti Torrance-the guy I was dealing with was off for a Monday and by the time he returned yesterday all his AWD models sold.
deal #2 is infiniti fairfield--they have a couple left, just not color we are considering

Now searching again for AWD model, that a dealer will do for under invoice

rdan2422

anyone have any information if the current lease mf and residual will be changing on april 1st?

Michaell

rdan2422 said:

anyone have any information if the current lease mf and residual will be changing on april 1st?

Nobody can predict what will happen to the numbers in April.

Current Infiniti numbers expire today, 3/31/16

zenfloater

How decent is this deal .... ?

2015 QX60
Premium Package

MSRP $48,325

10K miles/year 39 months
$400 / month
$0 out of pocket - sign and drive

Michaell

zenfloater said:

How decent is this deal .... ?

2015 QX60
Premium Package

MSRP $48,325

10K miles/year 39 months
$400 / month
$0 out of pocket - sign and drive

FWD or AWD?

What is the adjusted cap cost?

zenfloater

Michaell said:

zenfloater said:

How decent is this deal .... ?

2015 QX60
Premium Package

MSRP $48,325

10K miles/year 39 months
$400 / month
$0 out of pocket - sign and drive

FWD or AWD?

What is the adjusted cap cost?

AWD. Not sure about the adjusted cap cost ...

Michaell

zenfloater said:

Michaell said:

zenfloater said:

How decent is this deal .... ?

2015 QX60
Premium Package

MSRP $48,325

10K miles/year 39 months
$400 / month
$0 out of pocket - sign and drive

FWD or AWD?

What is the adjusted cap cost?

AWD. Not sure about the adjusted cap cost ...

39/10 on the 2016 QX60 AWD is .00122 and 61%

leasehunter87

What are 2015/2016 numbers for 12K at 24/36/39 levels? There are a few 2015s still available 

Michaell

leasehunter87 said:

What are 2015/2016 numbers for 12K at 24/36/39 levels? There are a few 2015s still available 

FWD or AWD?

2016 questions can be posted here:

http://forums.edmunds.com/discussions/tagged/infiniti/qx60

j_smith1

Hello do you have numbers in NY on 2015 QX60 AWD Premium and Premium plus MSRP $51,325 39mo 10k 12k and 15k? Thanks.

Kirstie_H

Have you gotten a terrific lease deal in the past two months? If so, a reporter would like to talk with you. Please email PR@edmunds.com by Thursday, April 7, 2016 with your daytime contact information and a few words about your experience.

j_smith1

Michaell could you take a look at this not sure if you saw my comment:

Hello do you have numbers in NY on 2015 QX60 AWD Premium and Premium plus MSRP $51,325 39mo 10k 12k and 15k? Thanks.

Thanks again!

Michaell

j_smith1 said:

Michaell could you take a look at this not sure if you saw my comment:

Hello do you have numbers in NY on 2015 QX60 AWD Premium and Premium plus MSRP $51,325 39mo 10k 12k and 15k? Thanks.

Thanks again!

39/15 - .00178 and 58%. Add 2% for 12K and 3% for 10K

rjlosangeles

I need your wise counsel. 
Southern California 2015 QX 60 FWD fully loaded MSRP 57,040 sales price 47,995
39/12k
55% residual
.00098 MF

the residual seems a point too low and the MF seems high. Am I wrong? 

Thank you! 

kyfdx

rjlosangeles said:

I need your wise counsel. 
Southern California 2015 QX 60 FWD fully loaded MSRP 57,040 sales price 47,995
39/12k
55% residual
.00098 MF

the residual seems a point too low and the MF seems high. Am I wrong? 

Thank you! 

.00061 MF and 55% residual

It's rare to see Infiniti dealers mark up the money factor, but it's possible.