Infiniti G37 Lease Questions

mumuxu

Nissan Motor Acceptance Corp will keep u as well the new person on the lease.i.e.both will be responsible for car & payments. Few cos. such as Toyota will shift the liability & responsibility to new lessee.

I have leased my last 4 vehicles thru Swapalease which I think is great site. However I have dealt directly with the person who wants to get out of the lease.

mumuxu

Try Circle Infiniti in West Longbranch,NJ

meyrick007

thanks!

radtrax

Hi All, Just looking for candid feedback on how my deal looks and answers to the questions in this post concerning the July to August numbers, the correct July Money Factor (I was given a 59% residual for a 10K/39mo on G37 Sedan Aniv Ed), and pull-ahead program.

http://townhall-talk.edmunds.com/direct/view/.ef9da24/5585#MSG5585

From what I understand, the pull-ahead program only applies to new vehicle purchases, not a lease buyout?

neoname

re is the offer I got, please sroll down to find the final deal I signed on.

2010 G37X Premium Package /Splash Guards/First Aid Kit/Trunk Mat/Trunk Cargo Net
36 Months / 12,000 K
MSRP: 39,440
Selling Price : 34,540 (Well below Invoice, conquest cash included)
MF: 0.00001 (Put down 9 Security deposits of $350 each)
RV: 60%

Acq Fee: $595
Doc Fee : $399 (Could get him reduce the doc fee )
Reg : $165

Monthly Payment : 335.41 (inc of TAX 6%)

--------------------------------------------------------------------------------- - --------------------------
08/17/2010
Today my LEASE deal was finalized and singed and I will be picking up my car soon...Yipee..

Here are the deails, as you see above...everything remained the same. As expected, its never straight forward in closing a deal. The business manager said, I did not get approved for the so called "TIER 0" (the need score above 740) so they put me in "Tier 1" (mine was 728). And then comes the big news, monthly payment goes up by $33/ month.

New Monthly: $368

I thought about it and said, alright I'm ready to drop the idea of leasing and was ready to leave. The sweet question is dropped now " What can I do to earn your business today?"
. BINGO!!!

I said $345 not even a penny more...blah blah (did not care about the MF at that point, knew I had already a great MF) 20 minutes later, they worked out something and offered me what I asked for.

Finally agreed on a monthly payment of $345.

Details,
2010 G37X Premium Package /Splash Guards/First Aid Kit/Trunk Mat/Trunk Cargo Net
36 Months / 12,000 K
MSRP: 39,440
Selling Price : 34,310 (Well below Invoice, conquest cash included)

Nine MSD's of $350 each

Acq Fee: $595
Doc Fee : $399 $345 includes 6% Tax

Drive off : 9 MSD's + First month + Acc Fee+Doc Fee+ Reg

DB_from_NC

Great work Neoname...that's a solid deal. I just want to know how they calculated your MSD rate! My dealer came up with $450/MSD for my G37 Prem, so I only dropped 7 down.

kingpcgeek

MSD's are based on your net payment (not including taxes) rounded up to the nearest $50

DB_from_NC

Would that be net payment pre-MSD or post-MSD?

neoname

Atleast for me it was post MSD.

blackg37black

G37S with Journey, premium, nav, sports package

MSRP: 41,415.00

AGREED UPON VALUE OF VEHICLE: $37,403.88+ $0(up-front sales tax) and $595 acquisition fee

TOTAL GROSS CAP COST: $37,998.88

CAP COST REDUCTION: $2259.28+FIRST MONTH(415.30)+TITLE/REG(518)/DOC(45)+dmv(29)+tax(224.39)=$3500.00

REBATES AND NON CASH CREDIT-$1000

CASH FROM ME: $2500(INCLUDES FIRST MONTH PAYMENT)


36 MONTHS, 12,000 MILES

$378.41 + 36.89tax =$415.30

did i leave any thing out? any one can tell me if this is a good deal couldn't find the residual percent but says

adjusted cap cost 35,739.60
residual value - 24,434.85
depreciation 11,304.72
rent charge 2.318.04
total base month payment 13,622.76 / 36 = 378.41 +36.89 = 415.30
total payments 18,430.50
35 payments after down payment 415.30 total 14,950.80

let me know if i got a good deal thank you!

kingpcgeek

You could maybe get a couple hundred off the selling price, but its not bad. The problem however is the $2259 cap cost reduction. That is a no no on a lease. If you want to know why read the posts from the past couple of weeks, its been posted ad infinitum. Instead put that money in multiple security deposits (MSD). It will reduce the interest rate you are paying which in turn drops your payment and you get the money back at the end of the lease. The return on investment on MSD's can be around 60% tax free.

FYI there is no such thing as a G37S with journey, premium, nav and sports packages. Its a G37 Journey, with the premium, sports and nav package that you are looking at.

blackg37black

thanx for the help!!
wait i dont get it though isnt a g37s the same as the g37 with sports package?
i dont get what the differnce is ?

kingpcgeek

The G37S has a manual transmission, the G37 does not.

blackg37black

but still says the red "S" on the back next to the g37 correct?

kingpcgeek

To be honest I am not sure.

vchad

Hello SewellGSM, I sent an inquiry to your dealership about g37 coupe. Can you look for me. I'm the one with 734 area code. First name starts with a V. I've been following you on here for months, hopefully you can give me a great deal!

ortz1

G37 Journey Sedan - 15K miles, 39 mos, $0 Down. MF=.00121, Residual = 61%

MSRP - $40240

Invoice - $36914

Your Price - $36914
less $1000 manufacture conquest rebate - cover 1st payment, reg. tire.and doc fee's

Your Savings - $4326 after conquest rebate $1000

2010 Infiniti G37 Journey Sedan
Graphite Shadow/graphite leather interior
Navigation Package
Premium Package
Splash Guards
Wood Trim
Cargo mat/net/floor mats

Monthly Payment = $450 (inlcudes tax, etc.)

Is this a good deal?

kingpcgeek

You are getting the car for invoice which makes it a good deal.

The only problem see is I'm not sure that is the current residual, and I would be concerned that when you sat down to sign the deal they "found" their mistake. I believe the residual is 56% which would take the payment up about $50. Of course Infiniti could have made a mid-month residual change, lets hope so.

ortz1

From the dealer, "MFR - 1.21 and residual 15k per year is $22534.40."

That's 61% if I did the math correctly.

kingpcgeek

You didn't. 22534.40 / 40240 = 56%

bcvc71_li

The MF and residual you provide can't be correct. Using the MSRP, sales price, MF, and residual value you provide, and adding a 7% sales tax rolled into the monthly lease payment (I don't know what your tax rate is where you are leasing the car), I come up with a monthly payment of $422.64.

Using a MF of 0.00107 and a residual of 57% (which appears to be the current lease rate for a 2010 G37 Journey Sedan), I come up with a monthly payment of $455.49, which is much closer to the monthly payment being presented to you.

Also, the proposed deal doesn't identify the lender's acquisition fee anywhere. Are you paying any cash out of pocket?

I've seen advice in these forums to ask the dealer for their lease worksheet (a computer generated document that shows all the numbers going into the lease calculation). It appears that the only way to know what the dealer is doing here is to ask for that document.

kingpcgeek

The residual he gave was not given to him by the dealer, he backed in to it and did not do it correctly. He divided the residual dollars by the selling price, not MSRP.

ushkand

I think you are leaving money on the table. I would shoot for a purchase price of $35,800 - 1,000 = $34,800 and settle for nothing more than $35,300.

ortz1

I appreciate the input. Inititaly i divided the residual by the selling price, not MSRP. The actual % is 56%, not 61%.

I'm in California, so the taxes are generally higher (8.75%). The dealer quoted $450 a month plus taxes. I feel like this is a little high.

clebrown

what if you use a trade in as the down payment. Is that still a bad idea?

ushkand

Trade in is nothing but a down payment if you have it applied towards lease. If you have a trade in, just have them cut you a check for the trade in value.

mssurrey

Hi Car_Man

What are the August MF and residuals on a G37X for 36 with 15K and 39 months with 15 K?

Thanks.
Sam.

4ml

I'm planning to lease this car and haven't leased a car before so I had a few questions about how the leasing works. I'm not sure if I'm posting in the right thread - so forgive me if I am not.

I've been doing some research on leasing - but can't figure out what "good condition" means when you return the car and excessive wear & tear? Also, are the dealerships very fussy about this - I'm planning to make 9 MSDs and was wondering if I will really get all of this money back? I take good care of my car but I'm just not sure if dealerships will really return ALL of the security deposits.

I have gotten a quote from the dealer...here are the details:

MSRP: $42,795
Invoice: $39,216
Your Price: $37,916 (Includes the $1000 rebate)

I haven't negotiated the terms of the lease yet, haven't told the Internet manager if I'm leasing. This was the first quote they gave me - so I'm guessing there is room to negotiate further down. Once we agree on the price, then I plan to discuss the lease numbers.

What price should I shoot for. I'm thinking of starting the negotiations from $36,916. Any suggestions will be great.

seattleoz

I'm really interested in the reply to @4ml, too...

I had a sales manager tell me over the phone that Infiniti doesn't allow MSDs anymore...can someone just confirm that's BS?

Also, was wondering if someone can call out the 'fees' that the dealer has some discretion over:

Cap reduction (I am paying this supposedly): $4,711.64
Bank fee (they are including this in my gross cap): $595
Doc fee: $150
License fees: $245
Advance Pmts: $431

They are basically asking me to pay $5,000 down, and adding $1,000 in conquest cash to my 'driveoff' for a total of $6,000.

Thoughts?

ushkand

I would negotiate a selling price of $37,000 (including the $1000 conquest cash). Start the negotiations at around 36,700 and agree to no more than $37,300.

If you have good credit, you should be able to get the Infiniti's published rates for August -
36-month | 15k miles | residual 58% | .00112 base money factor

Don't forget to avail the multiple security deposits - you can reduce your payments by ~$50 - $60/month by putting down 9 x your monthly payment. This amount is fully refundable at the end of your lease term.

ushkand

Do not put any money down on a lease. See my previous reply for the price to negotiate.

For a G37x Sedan with an MSRP of $42,495 and a purchase price of $37,000 (inclusive of $1,000 conquest cash) -
36 months / 15k year
Residual Value - 58%
money Factor - 0.00112
Acquisition fee - $595

you are looking at a monthly payment of $424.74 + sales with a drive out amount of
First month's payment - $424.74 + sales tax
+ Title and registration fee
+ Doc Fee

If you decide to do the MSDs, then your payments comes to $368.56 + sales tax with a drive out amount of
MSD - $3600 (400 x 9)
+ First month's payment - $424.74 + sales tax
+ Title and registration fee
+ Doc Fee

bryan_k

Hi Everyone,

I can't tell you how valuable the information on this forum has been. Thank you to all those who post their experiences.

I was hoping you could verify my calculations:

I'm looking at leasing a 2010 G37x w/Premium (+ Cargo Net / Trunk Mat / First Aid Kit) with 15k/yr

Assumptions:
MSRP $39,260
RV% .57
Selling Price $35.178 (proposed)
Incentive $1,000
39 Month Lease
15,000 Miles per year
MF = .00126

Now, the math....

(with no MSD)
$39,260 x .57 = $22,378.20 Residual
$35,178-$1,000=$34,178 Net Cap Cost
$34,178-$22,378=$11,799.80 Depreciation
$11,799.80 / 39 = $302.56 Monthly Depreciation
$34,178+$22,378.20 x .00126 = $71.26 (MF Payment)
$302.56+$71.26=$373.82 Pre Tax x 7% NJ Tax = $399.99 Mo

If I were to make Multiple Security Deposits:

Assuming each MSD subtracts .0001 from the MF
Original MF - 9 MSD = New MF
.00126 - .0009 = .000036

$39,260 x .57 = $22,378.20 Residual
$35,178-$1,000=$34,178 Net Cap Cost
$34,178-$22,378=$11,799.80 Depreciation
$11,799.80 / 39 = $302.56 Monthly Depreciation
$34,178+$22,378.20 x .0009 = $20.36 (MF Payment)
$302.56+$20.36=$322.92 Pre Tax x 7% NJ Tax = $345.52 Mo

Did I leave anything out? Also, can I assume my MSD payments will be $400 each based on my pre MSD monthly rate of 399.99?

kingpcgeek

I don't know where you are are going to find a dealer that is going to sell you a car for $1000 under invoice plus the $1000 lease cash. Invoice - $1000 lease cash is pretty standard right now..

bryan_k

Understood. That really wasn't the point of my post... I used that selling price as an example to see where I would need to be to get a MSD payment of $400 instead of $450. I have all of this in a worksheet and will adjust it based on the lowest negotiated selling price.

I just wanted to make sure my calculations were correct....

ushkand

Actually you are in the ball park - you should be shooting for a selling price of something between $34,000 to $34,400 (this includes your $1,000 conquest cash).

As far as MSDs, its rounded to the closest $50, so its should be $400 totaling $3600.

For anyone else looking for a target selling price, shoot for $300 - $400 below dealer cost from Truecar.com (http://www.truecar.com/Infiniti/all/models.html). With all teh incentives, dealers will still be making money at this point. I was able to get mine for $300 below dealer cost.

bryan_k

Ushkand- Thanks for the pricing info.

Re: MSD - I wasn't sure if it rounded to the nearest 50 or the next 50. Meaning $410 would round up to $450 instead of $400....

4ml

Thanks Ushkand. Appreciate the reply. I do have a good credit score and will looking to put down 9 MSDs. I'm looking for 12k miles a year - I think that should be enough for me...especially since I live in Lake Tahoe and it snows here quite a bit in winters - so you end up driving less for couple of months.

Anyway, I would really appreciate if someone who has leased a few cars (especially from infiniti) - what has been their experience when returning the car and how is "good condition" and "normal wear and tear" defined? Do I have to get maintenance from the dealership I leased the car from or I can go to any mechanic? Also have a question on tires? Usually tires are switched out every 20,000 miles - so what's the best way to go about it so when I return the car - they don't tag me for the tires.

Thanks

clebrown

I dont have all the numbers, but here is what I have. Please let me know your thoughts.

G37x coupe with premium and nav. 12,000 miles per year

msrp $45,405
sell price $41,000
money factor 0.00163
residual $28,755.15 (I think 63%)
payment $474.35 includes tax
drive off $773.85 Includes 1st payment and Lics fee of $299.50

crobinson01

Don't forget the $595 Acquisition Fee that is included in the Net Cap Cost

crobinson01

I'm calculating your payment to be more around $417 w/ tax

crobinson01

I found that it is not all that bad when you return a Infiniti. Your biggest expense is while you own the car replacing the brakes (Ceramic). I had a four year lease and replaced them twice. I think they mainly look for rips or very soiled interior and as long as you don't have a huge dent or something you should be fine. A few scratches should be OK as well.

They determine wear and tear depending on how long you lease the car. If you only lease for a couple of years, they expect it to be almost near perfect. That's why I usually trade them in a few months before they are due so I don't have to worry about the expense if I feel I may be dinged a little.

As far as your question about the tires, the new Infiniti's has a better tire then it used to be. I think these tires have a warranty for 30K miles which you may need to rotate out one time before you turn it in. I think they need to be atleast 3/16 at turn in.

bryan_k

Thanks - is the $417 the new total after adding the $595 Fee or was there another issue with my calculation?

delta737h

bryan k,

Let's take a closer look at the math. I've taught math for many years and freak when I see this...

$34,178+$22,378.20 x .0009 = $20.36 (MF Payment) which is really...

34,178 + 20.14 = 34,198.14 ... obviously, this isn't want you want.

Actually, you want this...

($34,178+$22,378.20) x .0009 = $20.36 (MF Payment)

See, the difference? Next,

$302.56+$20.36=$322.92 Pre Tax x 7% NJ Tax = $345.52 Mo

322.92 x 0.07 = 22.60 not 345.52

What you want is...

322.92 x 1.07 = 345.52

This payment would be corrrect IF NJ levied tax on the payment streams and collected the tax when payments are due. However, NJ computes sales tax on the sum of the taxable monthly payments. So, NJ sales tax amounts to...

0.07 x 39 x 322.92 = 881.57

which is due and payable at lease inception. You can, however, choose to capitalize (finance) the taxes (881.57). In such instances, the fund provider will pay the taxes on your behalf.

John

kingpcgeek

In the month before turn-in you will have an inspection by a third party inspection company, not Infiniti. The one thing they do have a reputation of finding is curb damage to the wheels. They dinged me $250 for a scratch on one of the wheels. However Infiniti does have a $500 forgiveness policy if you lease another car so it didn't cost me anything.

Infiniti does send out a card near lease inspection time beforehand telling you what is and what is not allowed. You can have dings but it can only be X amount in diameter, the tires must have X amount of tread left, etc. The inspector really didn't spend any time inside the car.

There were zero requests for service records. On that G I rarely had any work done at the dealer. I do on my current G since they on charge $40 for an oil change and they inspect all of the required items for scheduled maintenance. The only thing they don't do that you need to do in the first 3 years of owning the car is tire rotations.

As long as you keep good care of your car you should be fine.

bryan_k

Thanks John... Wow, that really was a math check!

Rest assured, my formulas are correct in my Excel sheet (just as you listed them), When I converted the summary of my calculations in my post, I took some shortcuts... Apologies

Thanks for the info on the tax calculation- I wasn't aware that NJ calculated tax that way. I will adjust.

clebrown

Bump

4ml

Thanks for the reply. Appreciate all the help. I'm planning to get more info on buying it out of state (no dealership near Reno, NV) so talking to a dealership in California. Trying to figure how to avoid paying tax in California which is almost 2% higher.

Will post the final deal before I sign it to see what you guys think.

Thanks for all the help so far.

4ml

That's not too bad. Japanese cars are known for their reliability - so I'm sure it won't be expensive in the first few years. I'm def. going with the 3 yr. lease - works out to be the best imho.

For the breaks...do I have to go to an infiniti dealership or I can get them replaced anywhere right? Also, if I replace the tires - do they recommend a certain brand and quality of tires or they don't care?

What I'm read some ppl do is - they buy a set of tires and use them for 10-12 k and then switch back to the stock tires and return the car after 3 years. Then do the same for their next lease - that way you return the tires Infinity provided you with 20-25k miles on them and you only have to buy tires once every 2 or 3 leases.

Is that what most ppl do?

kingpcgeek

you pay the sales tax of your home state.when you buy or lease a car.

almatti

I previously posted my deal in June 2010 as follows: I incorrectly inputed 4425/Mo.

New 2010 G37X , Premium & Navi, Black with Wheat Interior w/ maple accents, 18k miles per year,
1 year free oil changes,
free first 1,000 mile check up and service,
mats, first aid kit, cargo net
$425.00 per Month, 39 MONTHS
$2,591 OTD includes first month, bank fee, TTL. (NY Taxes are high - $1,285)
Dealer paid off the last two months on my previuos G35X lease - $880 -
Pepe Infiniti, White Plains, NY . Impeccable service, Loaners, and courteousness.