Yep...that's how they get you...you think you are getting a nice low monthly payment, but you are basically just paying for it upfront instead of over the course of the lease.
first off...your signing fees look fine. The only thing I can't see is the $595 Acquisition fee. What I think they did is they basically burried the $595 into the cap cost, and then they dropped the residual and increased the MF a bit. Now...the best Residual and MF are 55% and .00175. If I use your cap cost with the best financing numbers and then add the acquisition cost on top $37,042 + $595 = $37637 Amount financed and a $585/month payment including tax. So, you can see it's basically a wash either way. So, the question is...do you try to push them on the finance numbers and hope they don't change the cap cost or leave it as is. If they lower the numbers and don't change the cap cost or closing costs that would lower the payment to the high $560's per month including tax. But then they might just "find" the acquisition fee and your payment basically wouldn't change. All in all it doesn't appear too bad though.
Whoops...I just noticed something...in your title it says 39 month lease, but in your posting it says 36 month. My calculations were based on a 36 month payment. If that quote of $589 was for 39 months, then I think there is some room to move.
It's a 39 mo lease.. The cap cost includes a charge of $595 to have the car shipped in from out of state. How much wiggle room is left? I was hoping to be in the $565 range including tax.
Well...if that is the case then I'm now getting the same numbers as them. Basically I'm taking the cap cost and adding $1190 to cover the Acquisition fee and shipping fee. I can't really say about that $595 shipping charge...it could be padded, but it also depends on where it is coming from. You could see if there are cheaper ways to have it delivered, but short of that I don't really see much other room to play with. They lowered the residual by 1% which seems normal considering it's for an extra 3 months. I thought that I've seen people getting basically the same MF for a 39 month lease as the 36 month (.00176 vs .00175), so you can certainly try to get them to match that, but they might not. If you do that your payment would be about $575/month and that still includes the $595 shipping charge. If you pay the shipping charge up front or find a cheaper way to get it shipped and take that amount out of the lease, your payment should lower to like $570ish per month.
When do the new month's residuals and money factors usually come out? I haven't taken delivery of my G35x yet and would like to leverage better rates if any. Expected delivery date is 4/10/07.
There is no such thing as SHOULD...I'm just saying that I've seen people posting here that they got that rate I think for 39 months...but the dealer can give you whatever rate they feel like...as long as it's no lower than Infiniti Financial Services posted numbers.
I think that they usually come out around the 5th or so of each month. Typically, what I've noticed in the last couple of months is that when factoring the buy rates from month to month, there wasn't really a difference in monthly payment since as the money factor went down, so did the residual.
I am completely new to the leasing world, and am currently looking into leasing a G35 due to their advertised deal here in Kansas City. I will be trading in a '05 Jeep Grand Cherokee Limited (worth about 2K over what I owe). Since I've never done this before, what are some of the things I need to consider before talking to the dealership? I've read the "10 things you should know before leasing" article, but I still have a few questions.
Since a lease is basically like dealing for a cash purchase of a vehicle, what can I expect invoice to be for a G35 Sport package, nothing more? What is the residual and other figures I should know?
Also, I've heard from others who lease Infiniti's that the dealerships you lease from are very good about turning you over into a new lease for basically free once your lease expires. In other words, you don't have to start over with a whole new deal b/c the dealership wants to retain your business, therefore they are usually fine with getting you into a new lease for roughly the same price. Is this true?
This is what i got from the dealer... MSRP:$39945 (Premium package/Navigation/Tech Package/splash guard/cargonet) 36 months/15000 miles/year $589/month(including taxes)
$815 at signing( 1st month+143(plates)+some fees)
State:IL
What cloud be the best monthly payment i should look at, and also pls let me know the best paymnet for 36month/12000 miles.
I am getting closer to close a deal on a G35 AWD. The current issue is that the dealer has only one car at the color that I like and this one was driven by the store GM to home and back for a few days (~300 miles on it). The dealer says that my 12,00 miles will start on top of the 300 miles already on the odometer.
How should I think about this situation? Is this a big issue? If not then what should I do on top of inspecting the car from the outside? Should I ask that the dealer’s service department will inspect the car mechanically and "certify" it? Should I ask for a disclaimer on the lease? Anything else?
I picked up my G35 Sport 6MT yesterday, and I couldn't get the dealer to budge on the .00217 MF, which I thought was high compared to what has been posted. (39mo, 15k, 54% res)
I checked with the other Infiniti dealer to see what their numbers were, and they were identical, so it seems that the "vary by region" thing is definitely in effect.
On the plus side, the new car is a huge improvement over my 2004 6MT - what a freakin' treat!!
Thanks again, Sprinkler, for all your help on this site - you rock!
Yeah...it's tough to say because the only financing numbers that I've seen posted are for 12, 24, 36, and 48 months and thus I can't really say if that is bad for a 39 month lease. Sometimes they are pushing certain period leases and give better numbers for that period of time. The MF might not be as good, but if the residual is more favorable than usual it can even itself out. But, as long as you got the car you want and at a price you are happy with, that is what is important. Congrats!!
The MSRP is wrong...but only by like $55 so it's nothing to sweat. What is the tax percentage there? Also, do you know what the cap cost sale price) of the car is? Right now, with the best march financing numbers and using 7% for the tax, to get that payment they are selling the car for 1k over invoice. If that is what you were looking for it adds up. Using the same cap cost and switching it to the best financing for 36/12k, your monthly payment should be around $567/month including tax. If you pay the $595 acquisition fee upfront instead of rolling it into your payment, your monthly cost will go down about $18/month. Also, you can figure that for every $100 dollars you get off the amount financed, you will lower your payment by $3 per month.
Well...if that cap cost is correct the numbers don't add up. Also, I don't know how they are getting to that MSRP unless there is some kind of dealer add-on that you didn't list. With that exact package, your MSRP should be $39890 which includes the $700 dollar destination charge. The residual and MF are the best avail for 36mo./15k miles, so that is good. The only way that I can get the payment to be in the $589/mo. area is for the cap cost to be around $37300. Then if I add the $595 acquisition fee the total amount financed is about $38000...with those financing numbers and 7% tax your monthly payment is $589. So I don't know where they are getting $39343 for a cap cost. Have them fax you a detailed breakdown of everything...not a handwritten quote, but a print out from the computer of every single item. The more specific the better. If you want the $567/month payment you would need to have them take it down to only 12k miles a year. That should bump the residual percentage up to 57%.
I don't understand what they have to hide...if they have given you the details, you have a right to see it before signing so that you can ask any questions if you have any. I have never had a problem getting them to print something out. Ask them how they arrived at that Cap cost because with that residual and money factor it doesn't add up right. You don't want to get surprised when you go there and they say that they made a mistake and that based on that agreed upon cap cost your payment is actually higher. However, like I said...according to my calculations you know what the cap cost should be to get that payment and that cap cost is 1k over invoice which isn't that bad. Is it the best? I've seen better...but it all depends on your market and maybe that is the best for that area. Also, with your options you are picking a hard to find model, so you have to take that into consideration as well. But, in my opinion that isn't a bad monthly payment for 36months/15k miles. MAKE SURE that they don't try to change it to 12k miles a year or something, and verify that is what is listed in the agreement. If you don't need that many miles then they should be able to lower your payment for fewer miles. And remember that your residual value should go up if you don't use 15k miles.
Finalized the deal on Friday with Flemington Infiniti. My circumstances changed so that the sign and drive was better for me. Ended up with a monthly payment of $545 with $0 out of pocket for a G35x with Premium Package, Wood Trim, Sirius and Cargo Net. I've only had it a few days but man I love this car!!!
Please let me know your thoughts on how this deal looks? I was going to consider going out to 39 mo and add security deposits to lower the payment...thoughts? MSRP $37055 Sale Price $34,253.66 (inc.: premium, sp. guards, cargo net, & wheel locks) 36mo $538/mo 58% residual money factor .00175 $595 bank fee sales tax $2316 (6.75%) doc fee $58.48 1st mo payment, doc fee, and $80 reg. transfer=up front
keep this in mind...usually when you go to 39 months, you might save a few bucks a month, but in the end you have to factor in that you are also paying for 3 extra months which might end up being more in the long run. Also, don't go for extra security deposits unless you have the cash avail to actually do so...or are paying a low enough interest rate on the borrowed funds to make it worthwhile. For example...for my lease I put down 9 addl. security deposits at $600 ea. for a total of $5400. That's no small chunk of change...but I used a home equity line of credit that is fixed at around 7% for the 3 years I'll need it. So if I just pay the interest on that money it costs me $33 per month. However, the .0009 reduction on the money factor saves me $60/month. So, I'm basically reducing my payment by $27/month and at the end of the lease I'll just pay back the line of credit with the security deposit refund and it didn't take anything away from my savings. AND...the interest I'm paying is tax deductible. So that's a bonus too.
I'm seriously thinking about leasing a G35 AWD (w/premium package). Question is how good is the VPP (supplier discount) - am I better off negotiating a deal myself or going with the VPP price. Also do G35s require premium gas? First time here, but love all the discussion, it's a bit help in making a decision!
The book says you should, as did my dealer. I would think you'd be able to get away with it once and a while if you can't bare to pay $60 to fill your 20 gallon tank. I did a little research and this guy seems to know a thing or two about it... Check it out... According to the article you won't damage your engine but you'll get reduced mileage which kinda defeats the purpose.
I am nearing the end of my current lease. I am considering leasing a '07 G35x. In my current lease, I paid a huge amount (too embarrassed to mention) for the acq fee. I only paid $300 over invoice, but with this added fee, it seems like not such a good deal.
Lesson learned.
My question is, is this fee standard, or negotiable? No way will I make a deal again with such a high fee. Also, are there other fees to look out for that are just masquerading as dealer profit?
The acquisition fee is standard and for the new G35's it's $595. One thing to watch out for is them charging you the acquisition fee and then also charging you some other fee and calling it something like Dealer Fee. Typically...the dealer fee and acquisition fee are the same thing it's just a name change. The only fees you need to pay are Destination fee (which is already factored into the price of the car), acquisition fee, registration, documentation fees (this is usually where they try to screw you...it shouldn't be more than $100 bucks and some states actually limit what they can charge you.), and then any upfront taxes. Some states have a tire fee I believe...but that should be MINIMAL. If you figure on paying the upfront costs and acq. fee at signing, it should probably be under 1500 with the majority going to 1st month, acq. fee, and registration.
Thanks for the info. $595 is still less than my current lease. If it is standard, I can live with that. There is a tire fee here, but like you said, it is only $12.50. I will try to roll the taxes and the acq fee into the monthly payment to avoid making a big down payment, although $1500 at signing isn't too bad.
I'll be careful to watch out for the bogus charges.
Greetings gojayhawks3. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
Let me begin by addressing your trade in. There's nothing wrong with trading in your current vehicle when you lease a new one. Having said this, it is in your best interest to have the dealer that you are working with cut you a check for any equity that you have in it rather than use it as a down payment for your lease. I always advise consumers against making down payments on leased vehicle because if a leased vehicle is totaled in an accident or stolen and never recovered its down payment essentially disappears. Just have the dealer take the amount due at lease signing (first month's payment, security deposit, acquisition fee) out of your trade in allowance and cut you a check for what's left.
You can find the dealer invoice price of the car that you are interested in by looking it up in the following section of this site: Edmunds.com - New Vehicle Pricing.
Infiniti usually does not provide special loyalty incentives, other than perhaps a waived security deposit, for returning customers. So the fact that one is currently leasing one should not have much of an impact upon their ability to negotiate a good deal on a new one, other than the fact that you may have already established a good rapport with a dealer.
Hi amitnis1. Infiniti Financial Services' April buy rate lease money factor and residual value for a 24 month lease of this car with 12,000 miles per year are right in line with the numbers that you were quoted. This is a good thing because it means that the dealer that you are working with is being very straightforward with you about this aspect of your deal. Furthermore, the selling price that you were quoted for this car is right around dealer invoice, which is a very good deal. If you like the car, I personally don't see any reason not to go for it.
Hey amitnis1. The lease program that you were quoted for the G35 Coupe that you are also considering looks good as well. This selling price looks outstanding as well. It looks like you've found a good dealer because both of these deals are very attractive.
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P.S. Have you seen pictures of the 2008 G37 Coupe yet? I just had the opportunity to sit in it at the New York Auto Show and it is amazing.
Hi amitnis1. While I am not personally a big fan of demo vehicles, 300 miles is not a big deal. If this car has a couple thousand miles on it already I would want a significant additional discount to lease it over an equivalent brand new model, but I wouldn't expect much of an extra discount for a mere 300 miles. I doubt that a GM would abuse his own store's vehicles, so the fact that he drove it a few times should not have any impact upon the car's "health" so to speak.
Quoted a $513.92/mo. lease price for a 36 month lease with 12,000 miles. MF is .00175 and Residual Value is 56%. The Price of the car was quoted at 36,550, but the salesman said that this was at Invoice. I know that the MSRP was 36,500 from the infinity website, but I'm not sure if this is accurate or if there is any wiggle room. Good Deal?
I asked for an itemized summary of the quote to see if there are any hidden fees, etc. BTW...what a great site!
You can check invoice on Edmunds or KBB... The invoice isn't exact, but it's close. Honestly, 513.92 sounds high for a 36 month lease with 12k miles. In order to be invoice the G would have to come with Nav/Premium... Does it?
I did a two year lease with 25k miles per year and my pmt is right around $700... Also, that's with $295 down + first month.
Just as a follow-up I checked invoice on a G35 Sport w/ Automatic & Premium... invoice of 33,503 (in my area). Also, dealers like to include their advertising costs, etc.. in "their" invoice, not just the invoice price of the car.
First...that is NOT invoice...that is the MSRP price for a Sport Premium w/ cargo net. Invoice on that car is $33525, so you definitely have wiggle room. Especially since you aren't adding any highly requested options like Nav and Tech. The Money Factor they quoted is the best avail, but the residual is not. The BEST residual for 36 months/12k miles is 57% but they don't HAVE to give that to you either. Does that payment include tax? Are they rolling all fees into the lease? What is due upfront? These are questions you should ask otherwise we can't accurately calculate the payment. If I put the car at 200 over invoice plus the acquisition fee of 595 and those finance numbers I can pretty much get to that number (including tax), but it's just a guess without all the exact numbers. BUT, if that includes tax and you don't have to put anything upfront other than 1st month, registration and maybe a SMALL documentation fee, it's not too bad. You might get the residual up to 57% but there probably isn't much room in the cost of the car...just watch out for the FEES!!!!
Does anyone know if the residual applies to the base MSRP or the vehicle purchase price? With the former, the residual would be the same regardless of options added.
I believe that with my current lease '04 4Runner, my residual was based on the base MSRP. Would this be true for a 07 G35x which I am currently considering?
I have a quote for a g35x with premium, wood xm guards and nets for 35085 with destination charge included. I asked them for a lease and these are the numbers that they put into the infiniti lease calculator 58% residual .00175 mf 37740 msrp 35085 sales price 590 acq fee 6000 down and 6 % sales tax
the trouble is that using the below link I got 325 per month and they got 375 per month.
Why the heck would you put 6000 down on someone else's vehicle? If you have the 6000 invest it... you can get an ING savings account that pays more interest than you'll pay on the car with a mf of .00175 (4.2%).
I am looking at a g35x with premium, splash guards, and cargo net. MSRP 36990. The internet guy at the dealership is offering 34900 prior to any negotiation. This is about 1100 above invoice. They also charge the $595 bank fee and $80 for license and $250 doc fee. On a 12k/yr 39 month lease they want about $475 plus tax with MF 1.75 and 57% residual. I'm gonna shoot for 300 over invoice (34100) as my goal...granted they are making the doc fee as well. Any thoughts?
Residual applies to the MSRP INCLUDING any factory installed options (Premium, Nav, Tech, etc.). I don't believe that dealer installed items apply though.
$6000 down is INSANE...what exactly does that cover? You need to find out exactly what that is for....and absolutely DON'T pay that much down. That's crazy. If anything...you can put down at least a few extra security deposits (depending on where you live). Each extra security deposit will lower the money factor by .0001 (up to a max of 9). Your monthly payment won't SEEM to lower as much as a direct cap cost reduction, HOWEVER you will get those deposits back at the end of the lease and you will make out in the long run. Unless you can guarantee at least 15% returns and then you are better off keeping the extra cash and investing it.
Waynei, ask the dealer your question about the difference w/ respect to the link and you should get a list of all the costs you are being quoted. The leaseguide is really useless because it does not permit you to factor in all the costs as they break down.
As for putting money down, the other comments provided to you, while valid to a certain extent (though the insane comment was a bit over the top), is really a personal choice for you to make. I have leased a half dozen vehicles over the years and have never put any money down until my recent G35 lease which I was quite comfortable doing so as to maintain my monthly payments in the same ballpark as my previous 4 or 5 cars which were not of the same class (or expense) as the G35. To each his own, ya know. I have some friends/relatives that typically pay an entire 2 year lease up front and get a new car every 2 years. Trust me, they are not insane but rather know exactly what they are doing.
Our lease on a '04 Maxima SE is due up in August. The car is in very good/excellent condition with very low miles (<20k). Moon roof, dual power seats (cloth.) The buy out in the lease agreement is $14,600. Trade in/sell value looks to be from $17-20.
The question here is, in lieu of buying the Maxima and then doing a private sale, would it be as or nearly as economical to trade the Maxima prior to the end of the lease, i.e., would a dealer buyout the remainder of the lease and use the difference towards leasing/buying? I'm very interested in the G35 but would like to keep payments around $400/mo.
If this is too vague or needs further clarification, please let me know. Thanks.
The short answer is that there is a chance that the dealer will want your car and might give you a better deal on a new one based on the value of your trade, but you never know...since you are talking about a lease termination they might just say it doesn't matter to them and just say you should turn it in. Every car is different and it depends on the timing and the value to the dealer. Typically, you will make more if you sell it yourself...but there are no guarantees that you CAN sell it yourself. Best bet right now is to go in and try to get the best deal you can on a new one but don't mention your trade. Wait until you get the cost of the New car worked out before you introduce your trade and try to have a number in your head that you would be willing to accept so that if they meet or exceed it you can take it...or if they don't you can walk. Always be prepared to walk.
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How does this deal look? I've been going back and forth with my dealer and these are his final numbers...
G35 Sport 5AT w/ Prem, Nav, Tech
MSRP $39,750
Cap Cost $37,042
Lease for 36 mo with 15K miles / year
$809.82 at signing
$150 tag
$589 1st month payment
$66 processing fee
$4.82 tax
Residual of 54%
Money FActor of .00197
Payment==$589 including tax..
Anymore room?
Thank you.
I am completely new to the leasing world, and am currently looking into leasing a G35 due to their advertised deal here in Kansas City. I will be trading in a '05 Jeep Grand Cherokee Limited (worth about 2K over what I owe). Since I've never done this before, what are some of the things I need to consider before talking to the dealership? I've read the "10 things you should know before leasing" article, but I still have a few questions.
Since a lease is basically like dealing for a cash purchase of a vehicle, what can I expect invoice to be for a G35 Sport package, nothing more? What is the residual and other figures I should know?
Also, I've heard from others who lease Infiniti's that the dealerships you lease from are very good about turning you over into a new lease for basically free once your lease expires. In other words, you don't have to start over with a whole new deal b/c the dealership wants to retain your business, therefore they are usually fine with getting you into a new lease for roughly the same price. Is this true?
Thanks all for your help!
MSRP: 40,050
Price: 36,569
Term: 24 month
Rate: .00164
Residual factor: .69
Residual value: 27,634.5
Miles/year: 12,000
Acq fee: 595
Govt fees: 113.5
Taxes (total): 1992.47
Doc fees: 198
Total initial payment: 1,442.69
Monthly payment: $500
MSRP: 37,640
Price: 34,210
Term: 15 month
Rate: .00221
Residual factor: .8
Residual value: 30,112
Miles/year: 12,000
Acq fee: 595
Govt fees: 113.5
Taxes (total): 1641.35
Doc fees: 198
Total initial payment: 1,377.37
Monthly payment: $436
Alternatively I can pay 2,000 up front (including fees and first month pay) and have the monthly pay drop to $390
MSRP:$39945
(Premium package/Navigation/Tech Package/splash guard/cargonet)
36 months/15000 miles/year
$589/month(including taxes)
$815 at signing( 1st month+143(plates)+some fees)
State:IL
What cloud be the best monthly payment i should look at, and also pls let me know the best paymnet for 36month/12000 miles.
All the help is appreciated.
Thanks
How should I think about this situation? Is this a big issue? If not then what should I do on top of inspecting the car from the outside? Should I ask that the dealer’s service department will inspect the car mechanically and "certify" it? Should I ask for a disclaimer on the lease? Anything else?
Thanks.
I checked with the other Infiniti dealer to see what their numbers were, and they were identical, so it seems that the "vary by region" thing is definitely in effect.
On the plus side, the new car is a huge improvement over my 2004 6MT - what a freakin' treat!!
Thanks again, Sprinkler, for all your help on this site - you rock!
Cap cost: $39343
(Premium package/Navigation/Tech Package/splash guard/cargonet)
36 months/15000 miles/year
Residual: $21991.75 (55%)
money factor 0.00176
$589/month(including taxes)
State tax:7%
$815 at signing( 1st month+143(plates)+some fees)
I have asked for $565/month but the dealer is not giving up on $589.
let me know if I've done right.
My circumstances changed so that the sign and drive was better for me. Ended up with a monthly payment of $545 with $0 out of pocket for a G35x with Premium Package, Wood Trim, Sirius and Cargo Net. I've only had it a few days but man I love this car!!!
I was going to consider going out to 39 mo and add security deposits to lower the payment...thoughts?
MSRP $37055
Sale Price $34,253.66 (inc.: premium, sp. guards, cargo net, & wheel locks)
36mo $538/mo
58% residual
money factor .00175
$595 bank fee
sales tax $2316 (6.75%)
doc fee $58.48
1st mo payment, doc fee, and $80 reg. transfer=up front
MSRP $39,450
Discount $ 1,900
- Liquid Platinum
- Black interior
- Wood trim
- Navigation
- Premium pkg
$1000 out-of-pocket (included down payment + 1st month)
Money factor of .00177 (4.25%)
24 month lease w/ 25,000 miles per year
for $714/month
Article
Lesson learned.
My question is, is this fee standard, or negotiable? No way will I make a deal again with such a high fee. Also, are there other fees to look out for that are just masquerading as dealer profit?
Thanks.
I'll be careful to watch out for the bogus charges.
Thanks again.
Let me begin by addressing your trade in. There's nothing wrong with trading in your current vehicle when you lease a new one. Having said this, it is in your best interest to have the dealer that you are working with cut you a check for any equity that you have in it rather than use it as a down payment for your lease. I always advise consumers against making down payments on leased vehicle because if a leased vehicle is totaled in an accident or stolen and never recovered its down payment essentially disappears. Just have the dealer take the amount due at lease signing (first month's payment, security deposit, acquisition fee) out of your trade in allowance and cut you a check for what's left.
You can find the dealer invoice price of the car that you are interested in by looking it up in the following section of this site: Edmunds.com - New Vehicle Pricing.
Infiniti usually does not provide special loyalty incentives, other than perhaps a waived security deposit, for returning customers. So the fact that one is currently leasing one should not have much of an impact upon their ability to negotiate a good deal on a new one, other than the fact that you may have already established a good rapport with a dealer.
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P.S. Have you seen pictures of the 2008 G37 Coupe yet? I just had the opportunity to sit in it at the New York Auto Show and it is amazing.
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I asked for an itemized summary of the quote to see if there are any hidden fees, etc. BTW...what a great site!
I did a two year lease with 25k miles per year and my pmt is right around $700... Also, that's with $295 down + first month.
I believe that with my current lease '04 4Runner, my residual was based on the base MSRP. Would this be true for a 07 G35x which I am currently considering?
Thanks.
58% residual
.00175 mf
37740 msrp
35085 sales price
590 acq fee
6000 down
and 6 % sales tax
the trouble is that using the below link I got 325 per month and they got 375 per month.
http://www.leaseguide.com/calc.htm
I am going wrong somewhere.
Just my 2 cents.
As for putting money down, the other comments provided to you, while valid to a certain extent (though the insane comment was a bit over the top), is really a personal choice for you to make. I have leased a half dozen vehicles over the years and have never put any money down until my recent G35 lease which I was quite comfortable doing so as to maintain my monthly payments in the same ballpark as my previous 4 or 5 cars which were not of the same class (or expense) as the G35. To each his own, ya know. I have some friends/relatives that typically pay an entire 2 year lease up front and get a new car every 2 years. Trust me, they are not insane but rather know exactly what they are doing.
Good luck.
15 month, 12k/year (15k total)
MSRP: 37890
Cap Cost: 34927
MF: .0022
Residual: 30312 (80%)
Drive off: 3206.96 (tax 158.38, license 7.20, cap reduction 2724.95, 1st payment 316.43)
Payments: 316.43 (includes 4.9 taxes)
Our lease on a '04 Maxima SE is due up in August. The car is in very good/excellent condition with very low miles (<20k). Moon roof, dual power seats (cloth.) The buy out in the lease agreement is $14,600. Trade in/sell value looks to be from $17-20.
The question here is, in lieu of buying the Maxima and then doing a private sale, would it be as or nearly as economical to trade the Maxima prior to the end of the lease, i.e., would a dealer buyout the remainder of the lease and use the difference towards leasing/buying? I'm very interested in the G35 but would like to keep payments around $400/mo.
If this is too vague or needs further clarification, please let me know. Thanks.