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Leasing QX60 Memorial Weekend in CA - need LAST MINUTE advise/input

typeagirltypeagirl Posts: 4
edited May 2015 in INFINITI
Hi Everyone,

I have a question on the best money factor and residual and is this the best I can get:

Offer:

QX60 AWD

MSRP: 52795
SELLING: 46233
39 months
12K a year
MF = .00106
Residual = 59%

payments: 507.34 (zero down)

Drive off cost: 1802.75

I know acquisition fee is 700, doc fee $80, includes 1st month - not sure of rest

They did not break it down for me- was quoted a lower drive off from another dealer about $600 less-although the MSRP was also 1600 less on that car, but he gave me a great % discount off the MSRP

SO:

Is the MF and/or residual negotiable? How do I know if they are adding anything onto the MF? With Infiniti, do they only get their leasing through them - can you ask them to shop around if you have excellent credit?

Again, I am in CA - if you know any set fees like title or Registration, please advise. Let me know how this looks too.

Thank you sooo much!!
D-

Comments

  • typeagirltypeagirl Posts: 4
    Forgot to mention my tax rate: 8.225% - the monthly payment above does include tax
  • kyfdxkyfdx Everywhere, USAPosts: 122,928
    typeagirl said:

    Hi Everyone,

    I have a question on the best money factor and residual and is this the best I can get:

    Offer:

    QX60 AWD

    MSRP: 52795
    SELLING: 46233
    39 months
    12K a year
    MF = .00106
    Residual = 59%

    payments: 507.34 (zero down)

    Drive off cost: 1802.75

    I know acquisition fee is 700, doc fee $80, includes 1st month - not sure of rest

    They did not break it down for me- was quoted a lower drive off from another dealer about $600 less-although the MSRP was also 1600 less on that car, but he gave me a great % discount off the MSRP

    SO:

    Is the MF and/or residual negotiable? How do I know if they are adding anything onto the MF? With Infiniti, do they only get their leasing through them - can you ask them to shop around if you have excellent credit?

    Again, I am in CA - if you know any set fees like title or Registration, please advise. Let me know how this looks too.

    Thank you sooo much!!
    D-

    .00106 MF is the base rate. 59% is the correct residual.

    Besides the upfront charges listed, you have title/registraton. In CA, that is usually around 1% of MSRP, so your upfront money looks correct. It's possible that the other dealer capitalized the acquisition fee or 1st payment to make the upfront lower (nothing wrong with that).

    Infiniti dealers lease through IFS. They could go elsewhere, but an independent bank numbers wouldn't be competitive.

    I get $468.79+tax.... which matches your monthly payment to the penny. (assuming the $507 includes tax).

    You are looking at all of the right things. This deal seems pretty straightforward and as advertised.. The only way to lower the price is through a lower negotiated selling price, or using multiple security deposits.

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

    Edmunds Moderator

  • typeagirltypeagirl Posts: 4
    Thank you so much for response! Glad the math worked out. I am guessing then this is a good deal for this vehicle?
  • kyfdxkyfdx Everywhere, USAPosts: 122,928
    typeagirl said:

    Thank you so much for response! Glad the math worked out. I am guessing then this is a good deal for this vehicle?

    We don't really track the prices. The payment certainly seems reasonable in relation to MSRP.

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

    Edmunds Moderator

  • vmx128vmx128 Posts: 11
    I am leasing a QX60 FWD (also in CA) tomorrow, and here is my deal in comparison:

    MSRP: Around $48200
    39months, 12k a year
    With 9 security deposits ($4050), MF is 0.00016
    Residual is 58%
    Monthly payment including 8% sales tax - $386.xx

    I just ran the same calculations, and it looks like you can lower your payment to $432.98 by making the maximum security deposits (9x450=4050). The security deposit is returned to you at the end of the lease.
  • kyfdxkyfdx Everywhere, USAPosts: 122,928
    Thanks for reporting in your experience. The Infiniti MSD program is generous and can really save some money.

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

    Edmunds Moderator

  • typeagirltypeagirl Posts: 4
    Thanks VMX128. Actually ended up with a better deal down south:

    52795 MSRP, Selling Price 44485 = 15.75% discount

    59 % Residual, MF: .00106 (2.54%) 39 MO/12k (CA tax 8.225%)

    Drive of cost: 1210 in title/lic/acq fee/doc & DMV fee + 1st month + CA Tire Tax = 1675.61
    Monthly Payment: $456.86 w/0 down OR roll Drive off into lease $492.83 (then drive off cost is 1st mo payment + CA tire fee = $500.58

    We rolled into the lease - yes I know I am paying interest on it but only around $323 all together, and don't have to come up with an additional $1210 up front. Cars are depreciating assets that lose value the moment you drive them off the lot - don't like to put more money down than I have too.

    Hope I did good - please don't let me know if I didn't - would knock the wind out of my sail/sale - lol

    Key was working with the Fleet Manager - he didn't play any games. I think......
  • MichaellMichaell ColoradoPosts: 113,917
    typeagirl said:

    Thanks VMX128. Actually ended up with a better deal down south:

    52795 MSRP, Selling Price 44485 = 15.75% discount

    59 % Residual, MF: .00106 (2.54%) 39 MO/12k (CA tax 8.225%)

    Drive of cost: 1210 in title/lic/acq fee/doc & DMV fee + 1st month + CA Tire Tax = 1675.61
    Monthly Payment: $456.86 w/0 down OR roll Drive off into lease $492.83 (then drive off cost is 1st mo payment + CA tire fee = $500.58

    We rolled into the lease - yes I know I am paying interest on it but only around $323 all together, and don't have to come up with an additional $1210 up front. Cars are depreciating assets that lose value the moment you drive them off the lot - don't like to put more money down than I have too.

    Hope I did good - please don't let me know if I didn't - would knock the wind out of my sail/sale - lol

    Key was working with the Fleet Manager - he didn't play any games. I think......

    Nice deal. And, I agree with you about keeping the up front money to a minimum.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Do you mind sharing which city was this deal in?
  • Also what are the features / packages for this QX60 AWD?
  • Packages with this QX60 AWD?
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