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Here's my numbers...which don't add up to me for some reason. 39mos Lease
2011 G37X with Prem/NAV
MSRP 42045
With 5K deposit
Net Cap 38,979
Cap Reduction 3660
The Monthly payments come out to be about ~570.
With 10K deposit
Cap Reduction 8346
Net Cap 34293.16,
The Monthly payments are ~425.
I did the numbers and it looks like I only pay about 665 dollars less, if I put 10K down instead of 5K(over 39 months).
What gives? :confuse:
If the price range (lease) is around $380 with $1500 down, I will sign it today! but my question is, is it possible?...
Monthly payments are more important than if the car has more power or AWD or full option..
Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.
For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost.
The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider:
- Money down is taxable
- Take the money you would have put down and invest it
- Put your down payment in a savings account and use a portion each month to help make your lease payment
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I am in process of negotiation for a g37x. Edmunds states dealer cash totaling $1500 (lease or buy). When I presented that to the dealer, they told me it was only available on a purchase and are willing to show me the program details from Infiniti Finance. Has anybody else come across this issue? I imagine it is possible for both sides to be wrong once and awhile.
Any help would be appreciated.
Now, that stuff I know... how to figure out lease prices, thats where I need help. I posted earlier but haven't heard any responses. The engine in my girl's car just seized today, so I have to act quicker than I thought!
2011 G37 Journey Coupe or G37x Coupe (both w/ Prem):
looking for a 24 or 36 mo lease with $0 down, 7% NJ sales tax, and 15K miles... can anyone provide the March money factor and residuals, and even possibly help me with what my goal lease price should be?
I am willing to do some heavy lifting and put in shopping time, but what price am I shooting for? Thanks guys!
I believe that IFS' 12,000 mile per year residual values are 2% higher than its 15,000 mile per year residuals.
Car_man
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Car_man
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If you provide me with the full MSRP and dealer invoice price of the exact car that you are interested in I can work up a sample lease payment on it for you. You can find that data over in the New Vehicle Pricing section of Edmunds.com.
Car_man
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What you were told by the dealer is actually not a scam. Infiniti is running an official early lease termination program right now that lets current IFS lessees out of their vehicles up to three months early for free if they lease a new Infiniti.
Car_man
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Car_man
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1) Mileage: Always make sure to get enough miles up front when leasing a car. It is better to buy the extra miles you know you will need up front to avoid a monster bill for overage at lease termination.
2) Residual Value: Infiniti boasted about the high resale value of their cars, so there is no reason why they should not have a very high residual value at lease inception. You really need to push for a high residual value to keep your lease payment low.
3) Lease Term: I find I like to drive a new car every 3 years so I never lease for more than 36 months. Dealers like to trick buyers into longer lease terms and where they make a lot more money, don’t be tricked. Also consider the Registration cost! If you live in a state like California where the plates stay with the car and you get sucked into a 39 month lease you just paid an additional 9 months of registration for the lease company.
4) Extra Fee’s: Doc prep and end of lease fee’s are always added but these can be negotiated. Make sure the fees are reasonable Shop the lease around.
FYI, really stay away from Infiniti Financial Services (IFS) leases, they are bad news sloppy company and gouge the hell out of you at the end. Buyer beware!!!
Thanks for all your help to everyone.
MSRB: $51,605
Gross Cap: $49,466 (Gap and 7.25% State Tax rolled in)
Residual value: $32,511 (63%)
Money Factor: 0.00091 (9 MSD's at signing)
No out of pocket costs other than plates, registration, 1st month payment and MSD's.
Monthly Payments: $520
received a quote of 0 down rolling aquistion fee and sales tax into monthly from a private leasing company using infiniti finance of $401.00 per mo in NY, went to dealer on LI same conditions best they would offer was $415,00 per mo. Do not need lease until mid end of april I want to wait and see the april pricing. I am confused why the $500.00 + difference both thru infiniti finance. Any suggestions
I let the sell cool off a bit, after I'd sent him an email about how placing a 5K vs 10K downpayment was not that different over the course of 39 months, when you counted all the payments.
He came back with putting 5K down, and a lower down payment(445+tax) BUT the overall cost of the car at the end of the lease(if I decided to purchase) would be about 46K.
Is it better to negotiate total down payment, total price of car, or car payment/month if the intent is to lease for 39 months and be done with it?
BTW, I'm in Central Florida if that makes a difference.
Thanks in advance!
Ed
Please explain exactly what you are referring to as 9 MSD 's.
Thanks
If it matters, I'm looking at a G37 Journey with premium, nav, and the sport package.
Thanks.
sticker - $42240
invoice - $38982
sell price - $39809
money factor - .00117
residual - 62% or $26188
3 year lease/12k miles
479/month with $0 out of pocket
The numbers for an otherwise identical 36 month lease are .00084 and 59%.
Car_man
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G37 Journey sedan w/ premium package for a 39 month lease
MSRP w/ dealer options(window tint and wheel locks): $39,101
Dealer invoice: $35,879
Selling price: $37,000
Cap Cost Reduction of $2,725
Adjusted cap cost: $34,372
Residual: $23,172 (60%)
Depreciation: $11,200
Rent (Interest): $$2,109 (says he is using money factor of .00094 or 2.3% but with this figure, I don't see how the rent can be this high)
Total of Base Payments: $13,310.38
Tax in Louisiana is 9% which comes out to roughly $30 a month
Total monthly payment of $372
I would be putting down a total of $4,200 (acq fee of $595, License fee of $208, 1st payment of $372, Cap Cost reduction of $2,725.63 + tax of $298)
From what I have seen on here, $372 a month sounds like an okay deal but with putting that much money down I'm not sure plus I think they are over charging me on the "rent" which is the interest because when I apply the current money factor, I would get somewhere close to the $400 range and not $2,109).
Is this a good deal? Any help on whether this is a good deal and thanks in advance.
It's somewhere around $2000....
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I generally don't make cap cost reductions on my leases.. I'd rather just put up the first payment and registration, and then roll the rest of it into the lease payment... that would probably add around $100-$110 to the monthly payment, but it's pretty much a wash, financially..
regards,
kyfdx
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A couple things seem off. Simple things. If the msrp is really 39,101, why isn't the residual (60%) 23,461? What is the annual mileage you want? If the agreed price is 37,000, and you're putting 2725 down, why isn't the adjusted cap cost 37000-2725=34275?
If I hard code the adj cap cost and residual you wrote, i also get $372/mo (assuming in LA you're also taxed on depreciation AND interest like in CA - not all states are)
Also, when you list the money due upfront, everything looks legit except 'tax' - I don't usually put a cap reduction down on a lease (prob most people in the lease forum would agree its a bad idea) but im assuming this is tax on the cap reduction cost. But, 9% of 2726 = $245, not $298
Small things, but they don't make sense to me...
Here's where I'd start:
Invoice = 35879 with his $435 tint job - if $500 over that price = 36379 (that's already being kind because the dealer options are hard to price)
Roll in $595 bank fee, $208 registration (although this prob goes down with a better price) to make adj cap cost $37182
60% residual on an msrp of 39101 should be 23461
Then depreciation should be (37182-23461)/39 = $352/mo
Interest (rent) = (37182+23461)*0.00094 = $57/mo
Base pmt = 352+57 = $409/mo
If LA taxes on interest like CA then pmt = 409*1.09 = $446/mo with no money down cept 1st mo
$446 is more than you want to pay monthly, but:
(446-372)*39 = $2886 extra you'll pay over 39 mo but you keep your $3828 you were gonna put down (im not counting 1st months pmt as 'down')
plus, if you crash your car or it gets stolen right after you lease it you don't lose all your cash!
Anyone know how to approach price when there's a few hundred dollars of dealer options installed??
I would be getting a 12k/yr -- 39 month lease and he stated he would be using a 60% residual value and a MF of 0.00094 (roughly 2.3%).
I know everyone on the forum says that putting extra money down on a lease is not smart b/c car could be totaled or stolen and I will then lose it but what about the Monthly Security Deposit deal where I would put the money down towards that and I would then be refunded that amount at the end of the lease but it would lower the MF. That seems like a better route from what i am reading. The other expenses are the Acq fee for IFS of $595 and $208 for license and registration and LA does tax the payment like California at 9%.
Any suggestions on what I should do?
thanks in advance for any help
As far as the upfront tax? Acquisition fees are usually taxable, and that conveyance (Connecticut for document) fee is probably taxable, as well..
With all the dealer-added options... you might have a little more room to work on price..
Using that downpayment money for MSDs would be better than a CAP cost reduction.... But, I'm not sure if IFS has a minimum money factor.. You may not be able to make 9 deposits. Each additional security deposit would knock off .0001 .... Saving you around $5/mo. for each one you make (plus, you get the security deposits back at end of lease).
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I've been shopping for G25X with Moonroof
Retail Value: 36,470
Sales Price: 33,500
36 month lease at 15K/yr
61% residual = dealer told me it's 61% not sure..
6% tax
$399 Conveyance fee
$198 Accessories]
I don't know the money factor...
$1,550 down & $370 a month...
Is this good deal?
I'm new to the forum, and leasing altogether, so pardon my possibly eye-roll inducing lack of knowledge on the topic.
I'm interested in leasing a g37x awd coupe with a premium package (bose, moon roof, leather heated seats etc--no nav). I want to only lease the car for 24 months and 15K/year.
As a true novice in the search I was merely getting monthly quotes from dealers and only trying to wrap my head around the down payment fees. After some reading I learned I needed the sales price they were using to build the quotes. I've received quotes ranging from $400-$643 a month (with just tax and acq. fee down). I've read through the forums on people's suggestions for $0 down due to theft or a wreck...haven't completely ruled it out, but understand the risk involved.
Some questions for patient forum posters:
-Is it fair to negotiate on the selling price for a car based on the best deal you've found online?
-Is the residual % standard, or is it negotiable? I found the residual value on a website citing 68% and $31K after 2 years (not taking into consideration mileage). I think I understand that I should be aiming for negotiating a high resid value if possible since I don't plan on keeping the car, but also a low selling price. Does anyone know what this should be for this model vehicle?
-Is the m-factor standard from infiniti, or negotiable based on the leasing company? What should it be for this model vehicle?
-Is the $595 acquisition fee from ifs negotiable?
-Should I be able to calculate the monthly payment breakdowns? Is there an "easy" online calculator somewhere?
-Are there any real risks associated with buying outside of the state you hope to register in? Quotes seems to be cheaper out of MA. I wish there was a way I could search for deals around the country and not just within the radius of my zipcode - any ideas?
-Are there any sample leases to read through online so I can study up before I go in for the deal?
-Did I miss something? Any help on what I should find out from the dealer besides disposition/termination fees?
I wish they would put it all on paper early on in the decision process, it would make this all so much clearer.
Your help is really appreciated. Thank you!
I was offered a lease on a G37x with the below numbers. The sell price looks high. Thoughts? what about the other numbers?
sticker - $42240
invoice - $38982
sell price - $39809
money factor - .00117
residual - 62% or $26188
3 year lease/12k miles
479/month with $0 out of pocket
Then, when I had a good price (price being two parts, MSRP and selling price) I said i wanted to lease and I would come into the dealership but said I expected to get IFS's standard terms for their highest tier credit (contingent of course that i had top tier credit). That way no messing around with the residual and MF. The bank fee as far as I know is fixed - I always roll that into the lease. How do I know the MF and residual? Well it's thanks to everyone else and especially out gracious hosts!
So, if you have the time to wait to buy, find out and post here the specifics of the car (options, msrp and selling price) and also any fees - bank should be $595. There also is a doc fee that in some states is limited and some not. Theres registration - i know in CA you can go online and estimate your new reg. based on the agreed sales price so you could know that within a couple bucks. There could be other bs fees. What state are you in because that affects sales tax rates and methods?
So I feel like it's a three part process, 1) get the sales price for the car, 2) figure out what fees/taxes etc you want rolled into the lease and add up the rest and that's what you'll have to put down, 3) make sure the MF and residual are as expected.
So kick us that info
Here is the lease calc I use
http://www.leaseguide.com/calc.htm
quick, simple and easy
G37 Journey coupe w/ premium package, SPORT Pkg, Navi Pkg, for a 36 month lease
MSRP w/ dealer options(Illum. Kick Plate & Cargo Mat): $46,650
Dealer invoice: $42,237
Selling price: $42,397
Cap Cost Reduction of $1000 (Loyalty)
Adjusted cap cost: $41,992
Residual: $30,127.50 (65%)
Acq Fee: $595
State Fees: $611.75
MF: .00121
Term: 36months
Total monthly payment of 12K:416/ 457 w/tax or 15k $485 w/tax (not sure bout info for 15K was just given price)
Thanks in advance!
Anyway, I just bought a G37 Coupe Journey with Premium package:
MSRP: 41,875
Agreed value: 38149
Tax: 9.75% (CA)
Fees: 526 (registration), 595 (acquisition), 80 (various)
24 months with 10k:
218/month (including tax)
5700 drive-away
No security deposit.
Yes I think maybe I got screwed on the deal by around 500-1000. Oh well. I'll know better next time.
I attempted to get a quote for a pure $0 down (sign-and-drive) and was given the following quote from a MA dealer:
24 month/15K lease -
Fees: 595 acquisition, 289 doc, 5 title
Sales price: 40,699
MF: .00124
Residual: 72%
Disposition fee: 395
Option to purchase: 300
---->
$0 down
544/month
................................................................................- .............................
also got a quote from an out-of-state dealer:
Acq. fee: 595
MSRP: 43920
Sales price: 39753
MF: .00124
Residual: 72%
---->
$1141.50 down
$409/month
................................................................................- .............................
In Massachusetts the sales tax is 6.25%. A doc fee of 289 and title fee of 5 keeps coming up (in addition to the acq. fee of 595) in MA and not as much in the quotes I'm getting out of MA.
The MF and residual have been consistent with what I've been getting for quotes both in and out of the state.
The out of state deals looks better, but I'm not sure what I'm missing. I tried to backwards calculate the monthly payment to see how it's being put together (depr, finance charge and tax), but I'm off somewhere- in both quotes.
Not to mention, none of my registration fees are included in the above quotes.
Any input is appreciated.
That looks like a great deal on a $46K MSRP car.. How much money is due at signing?
regards,
kyfdx
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for the first deal, since it's in-state and probably easier for you, what is the MSRP for that car and/or how is it configured (what options)? that will set the residual value in $'s and let us calculate the depreciation (right now all I can tell is it will be 72% of 'x'). there's about $2000 difference between the two offers so something is up. Do you know if either/both offers include sales tax (since one is out of state, that can get sticky)?
Does anyone know if IFS negotiates disposition fee or purchase option fee or is that a non-starter? i think my current lease has disposition but NOT a fee for purchase option, but i could be remembering incorrectly.
According to the quote customer cash due at signing is $1216.11 (For fees and first payment). But I was thinking about paying for security deposits....what are your thoughts on that?
Thanks again.
If your due at signing is just $1200, your deal looks great... be sure to take the 15K/yr, if you think you might need it... It's a lot more to pay for miles at lease end.....
regards,
kyfdx
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