The car I am trying to lease is a Blue Slate with Prem, Nav, and Tech. Just got back from the dealer and their offer was $1988 drive off (license, 1st month, doc fees) $545/Month for 36 months 12000 miles a year. This had a money factor of .00178 Residual was 57%
The car had 385 miles on it also because the General Manager had been driving it all week. How much does that matter for you guys? I was bothered by it but told them I would lease the car if they gave me the deal I wanted which was $500 over invoice .00178 money factor 58% residual.
They declined and said the previous offer was the best they would do. What do you guys think of the lease I'm trying to get?
Yeah...I guess the MF is better than what I'd seen posted. However, I think they are padding the residual for your quote. The BEST (not necessarilly what's offered) residual for 15k per year on the JOURNEY is 65% for 24 months and 56% for 36 months. You can add 2% if you only get 12k miles a year, and I believe that on leases that are just more than even years, i.e. 27 month, 39 months, etc. you remove 1% from the 15k residual for every 3 months...but don't quote me on that last part. That is just based off of what I've seen in the last few months.
Ask them what the cap cost is for the deal they offered you? Also ask them for a detailed breakdown of the $1988 drive off. From what I can see...that deal is not worth it...especially since it's already got 385 miles on it. I agree with you in that I'd want it for $500 over invoice, but might go a bit higher...definitely no more than $1k over which is where they are at right now. As for drive off...it shouldn't be more than about $1400 to cover 1st month, registration, doc fees, AND the $595 acquisition fee. From the looks of their numbers, they are probably around 1800-2k over invoice and they are then having you pay the acquisition and an addl. cap cost reduction. That is bogus for a car with 385 miles...especially if they aren't then going to offer you the best residual which is 58%. Are there any other features on that car? Tire package, splash guards, net...those are all important too in calculating the lease properly. Also...does their monthly rate include tax? if not, then I wouldn't even think twice about telling them where to stick their "deal". Find out the specifics of every charge and re-post.
I got 6 dealers all comming back with 66% quote..Dealer cannot pad the residual (but if they move you to a different lender than the residual can be suspected). So I am reasonably comfortable with the residual. But I notice a lot of different games is being play in quoting. Some move the acquisition to drive off, other just inflat some of the fees. It pay to run their number off a lease calculator...
Well they would not budge on the 499 adm. fee. They are telling me that is the rock bottom price. So I am going to another dealer this weekend to see what I can work out. Thanks for your advice.
When I was looking for my car I was also sending emails out of state to las vegas. in CA I believe there is a limit of like $45 for doc charge. In Vegas there wasn't a limit and they tried to charge me $399. I told them that it was BS and eventhough he said he couldn't budge on the doc fee...miraculously he was able to knock another $350 off the cap cost of the car
That is not true about padding the residual. There is a maximum that is established by IFS (or other lenders), but that doesn't mean that they can't offer someone a lower residual...all it means is that you are paying off more of the value. sometimes they will offer the 15k mile residual for a 12k lease...you just can't go in and ask for a higher residual than what IFS sets.
Does anyone have any idea how much this should cost in the State of Florida? I want to have an idea of what is fair when I go to the dealer this weekend.
Those seem awfully high considering it's a soon to be out of date design, and they want $4k down. I bet that those monthly totals don't include tax either. At this point, I think that the coupes should be going for invoice or less...and I think that they even have $1500 manufacturer to dealer incentives, so at invoice the dealer still makes a nice profit. Either way, you still have to find out more specifics in order to calculate the lease and see where there is room to maneuver as there are just too many variables involved.
Thanks. Actually, those monthly digits includes tax, so it's what I'll be giving Infiniti a month. The thing is, I want the Aero Package [rear spoiler and diffuser] (which, for some reason, doesn't exist on a white G coupe). The payments would be an extra $20 if I put it in payments, or $700 by itself. I'll have to go to the dealer tonight for more digits. I have seen the car itself at the dealer, so it's not another car that they're selling me. Once again, thanks for the input.
I was offered 477.99 a month 39 months 10k a year for the g35x... out of pocket is 477.99 for the first month and 1561.23 for taxes up front which comes out too 2039.22... comes with the premium packagem, Navi, splash guards, and cargo net... i email the dealer for the residual and the money factor now and i dont know if he gave me a discount on the car... what do u guys think, o yea and its black on black...
Again...even with tax...that still seems very high. The closing costs shouldn't be more than 1500 bucks total on top of a cap cost that should be invoice. I'd ask them for a detailed breakdown before signing anything. If anything, I think your payments should at least be where they are at now, with only $1500 down max. But I'd have to run the actual numbers first...and since you haven't posted anything it's difficult to speculate.
I am thinking of getting an 07 coupe before the 08s come out.
Does anyone know what they are going for these days in relation to invoice?
also, what are the current residuals and money factors? I am debating getting one with just the sunroof and spoiler, or going for one with the premuim package.
I looked at an Infinity G35 Sport this evening and I asked the salesman to find me a black with the premium package and then we can talk. I plan to negotiate the price before deciding on lease or buy. Because I am not sure if I will lease or buy I need to get up to speed on some of the numbers I should be looking at when discussing a lease? If you could list them with the average amounts that I should get in Miami, FL such as the Money Factor, Residual Value etc. Thanks
I told a dealer in Phoenix I wanted a Blue Slate Premium, Nav, Tech and was told I could get the following deal (if I drive up from Tucson tomorrow of course.) 36 months 12,000 miles 57% residual $500 over invoice doc fees are $369
I'm suppose to get the MSRP in the next couple of hours so assuming there are no bogus dealer add ons what do you guys think of this lease? I'm assumming my cap cost is going to be $35600. Good deal or not?
Don't necessary assume that 35600 is your cap cost. The 500 over invoice quote can be over their invoice with advertising cost (I am in one right now in California. Dealer said 500 over invoice but it is more like 750 over KBB invoice). Also the acquisition cost may get roll into your cap cost (either that or you have to pay upfront). But either way, it look pretty decent deal if the money factor is Infiniti's 0.00178.
"all it means is that you are paying off more of the value. sometimes they will offer the 15k mile residual for a 12k lease...you just can't go in and ask for a higher residual than what IFS sets. "
But what is the advantage to the dealer in doing so??? The residual is what you are paying for the car after the lease is up? I leased about 11 vechicle in the last 16 years and I have never see a residual difference from any quote if I use the same leasing company. The only case I see a difference in residual is when I shop for a RX300 from Lexus financial vs Chase (dealer offered Chase instead of Lexus financial lease). I believe Car_man discussed this topic too.
Do you closed your deal yet? I have a clueless salesman from Inifiti of Oakland (1500 over KBB invoice) and the best quote I have now is from Fairfield for 750 over KBB invoice (they claimed 500 over invoice but it must be over the invoice with the ad fee). The upside is that it is the exact options that I want. I have a guy from Frontier that quote full MSRP (and I am guessing that it is a no go, lol)
Has anyone got a 58% residual value on a Prem, Nav, Tech Journey Sedan for 36 months and 12,000 miles? I've been haggling with 2 different dealers and they both are suggesting to me that the best rate is 57%. Neither had a problem giving me a money factor of .00178. I realize the Cap Cost plays a big part in the overall lease but I thought reading through the forum here that you should be able to get 58% residual if only 12,000 miles.
I think the residual must be changed during the month. I have 7 quotes from the Bay area and the residual for 2 yr 12K mi are 66% (not 67%) and 3 yrs, 12k mi/yr are 57% from all 7 quotes. And I closed the deal today for 2 yr lease with 66% residual.
Charge 3351 out of the 6351 on a credit card and rest in a check.
It took a while to get to the final price. Fairfield is very straigth forward with their quote but it take some going back and forth to get the final price (wifey did the final negotiation after all the quote is in and she got the last 250 reduction).
I got a total of 7 quotes and the quotes are very far apart from each other. One quote MSRP, other play game with money factor and drive off. Most center around 1000 above KBB invoice with some below that. Fairfield have a very young crew (most sales and finance manager are in late 20, early 30) and they are very easy to work with. The buying experience has been great (Let's see whether the sales guy will send us the infiniti mug that he promised. heh heh).
Thanks everyone for your help and information. It may leasing this car a lot easier and so far I really enjoy the car after driving it for an hour or so.
I have a G35x on order. No money down lease. I hate putting cash down on a lease, but dealer claims that infinity has some special program where you prepay up to 9 months and the money is not a cap cost reduction. (In other words if car is stolen you get the money back) Infinity then gives you money at the end of the lease for the prepayemt. He claims is like a 10+% return. I have not seen any paperwork on this, but was wondering if anyone else has heard of it?
Are you sure? Many banks allow prepaying to reduce the monthly..but usually the payments come off the back, like your last 9 months. But I don't see how you would get that back if the car was stolen or totaled. Unless the dealer is planning on holding your money for 27 months then giving it back to you to actually make the last 9 payments...He invests it in the stock market? I am sure you have been reading this forum. Is your deal as good as the best posted here? Are they offering you anything better? Whats the details..price,monthly,down,term.etc..
do just a bit of searching in this forum and you'll see money factor and residual info posted. As for deals on coupes. I would think that you should be able to get them at invoice. I also think that there is $1500 manufacturer to dealer incentives...if so...then even at invoice the dealer will make $1500 so use that to your advantage. Edmunds posts the current incentives, so check there first.
All I was saying originally is that I have seen the BEST available financing numbers, and I have also seen dealers quote people lower residuals sometimes. Maybe they are quoting that rate so that they can get you to agree to a price...and then when they actually calculate it out on the paperwork they use the higher residual and then they can increase the cap cost so that they end up making more profit? You have leased many cars, so you of all people should know that dealers love to move around the numbers to their advantage...assuming that a person doesn't know any better.
It actually sounds like he's talking about putting down extra security deposits...which you can put up to 9 total. If you put down extra deposits, each one equals a .0001 reduction in the money factor. While the difference in your monthly price doesn't seem as significant as if you put that money towards a cap reduction, the difference is that you get a reduced monthly payment, AND you get that money back at the end of the lease....unless of course you return the car with so much damage that they have to use some of the deposits to cover repairs. As for a 10+% return...when I was figuring my lease, I ran the numbers and I determined that on the $5k I put towards addl. security deposits, I would need to make over 10% per year on the money (if I kept it in the bank or investments) to cover the savings in cost the of my monthly payment over the course of the lease. What I actually ended up doing is borrowing the money from a home equity line and got it fixed at 7% for the length of the lease. The interest costs me under $30 per month to pay the minimum, but the monthly savings on my payment was around $70 I believe (can't remember exactly). So, I'm getting a tax deduction on the interest payment and basically saving an addl. $40 bucks a month on my car payment. Then at the end of the lease I get the security deposits back and just pay down the equity line. I even used a credit card to pay $5k of my down payment so that I could get the miles...lol.
I have only seen posted rates for 24, 36, 48, and 60 months, so I can't really say what the best is for a 39 month lease. However, the best 36 month rate at 12k miles per year I've seen is 58%, and usually if you go to 39 months the residual drops between 1-2%. I think I've seen people saying they've gotten 57% for 39 months. Search thru some of teh posts here and see what others are mentioning for the G35x.
I'm closing on a lease tomorrow and was told I could lease for 36 months with .0178 money factor and 57% residual or I could lease 39 Months with .0196 money factor and 56% residual.
I'm in the Dallas area where they can't keep the car in stock. I'm going after the Premium Package, Navigation, Upgraded (18") Wheels, along with the splash guards and cargo net (nominal). Here's the best, best I can find in the area: --List $37,665 --Discounted price $35,509 --39 month lease --15K miles --55% residual --money factor .00250 --due at signing $779.63 --monthly pmt $599.08
It seems high to me based on what I see on the board, however I'm assuming there are regional differences in pricing (was told to "take it" by Crest Infiniti). Where should I drive the negotiation further?
Thanks!! Trying to pull the trigger on this tomorrow morning.
I can't comment on your lease terms buy I'm negotiating a G35 Journey with Prem/Nav/Tech/Wood trim in TX targeting about 1100 over invoice. The deal isn't done so I'm reluctant to say who's giving that price, but I should be done by end of week if all goes well. Just another data point for your negotiation. I pinged all the TX dealers and got one on the phone to start negotiating and then the others joined in a little more. I started with Clear Lake in Houston I believe, but that's not who has the current low bid. Also, from what I can tell getting the right equipment and color combo here is still a problem.
Good luck. What kind of numbers are you getting? I'm going between 2 dealers and a leasing company. I'm getting about $1100 over invoice as well which appears to be fairly aggessive for the area. I'm more concerned about the money factor, etc.. Interested to hear what you get. I'm likely pulling the trigger tomorrow if I can get them to move further.
Well, the reason I couldn't comment about the lease terms is that I am not leasing, so I can only give you the comparo on the price. Hope it all works out for you.
Here are my numbers in case they help anyone. Lease is for 36 months and 12,000 miles a year. I live in AZ and sales tax rate is 8%. I paid $500 over invoice + 200 because the car had ceramic tint. Options Prem, Nav, Tech, Wheel and Tire, Splash Guards, Cargo Net
Price of car was $36032 + $595 bank fee = $36627 Down payment was $500 Cap Reduction $555.17 license and registration $533.52 monthly payment $299 Doc Fee. $5 tire fee. $40.50 sales tax Grand Total $1933.19
I've been reading the posts here the last couple of days to try and figure out if i was getting a good deal on a G35x from a NJ dealer. I think I did and here are the numbers from my transaction. Hopefully this will help others:
Car details - G35x AWD, premium package A, splash guards, non-sport, 50 state emissions, firstaid/literature kit, trunk cargo net, sirus satellite radio, MSRP $37315.
Cash Due at signing: 1st monthly payment $450 Sec fee $0 Bank Fee $595 Tax on bank fee $41.65 Doc Fee $199 tax on Doc fee $13.92 NJ Tire tax $7.50 NJ 4 year registration $334.00 Cap reduction $958.92 Total $2600 out of pocket
lease details: 39 months 15 miles/year No disposition fee monthly payment $420.56 plus $29.44 (NJ tax) = $450/month
I was told by the salesman that my residue factor was .56 and the money factor was .00159. I was told that it was "below invoice" which I think is $34,194. just not sure how much below. I tried the calculators here and I think I got it for about $1200 UNDER invoice?
Hey ddw13 I was at infiniti of denville in NJ 9:30 this morning working out a deal on a G35X with prem and Navi with cargo net splash guards. I was giving:
39 Month 15 miles/year $1500 OTD total $535.00 month I was told the Money Factor was .00159 as well. BUT i was giving 55% on the residual
your residual was different probably because of the difference in mileage allowed per year
Not probably, for sure
The residual is set by the lease bank and can't be changed by the dealer. So as long as you are looking at a captive (Nissan credit) lease the number should be the same for all. The difference is normally a 2% lower residual for 15k per year than 12k per year. They are also one of the few to offer 10k per year lease - on these the residual is 1% more than the 12k lease.
Hey everyone, I was at a Salerno Duane in NJ on Sat, and I’m hoping to call them today to close a deal today but wanted to know everyone’s option before I called them back. I was offered: 1400 OTD 15000 miles per year 39 month lease 535.00 I was told the Money Factor is .00159 and the residual of 55% For a 2007 G35x wit Prem and Navi with cargo net splash guards I was thinking of calling and telling them I’ll close if they could do 1400 OTD but 510 a month. What’s everyone take on MY offer?
"I was thinking of calling and telling them I’ll close if they could do 1400 OTD but 510 a month. What’s everyone take on MY offer?"
You did not include the cap cost and whether the 535 include tax. So it is hard to judge whether it is a good deal. However, be aware that the $25 monthly payment reduction equal to be a little bit less than 25*39=975 reduction on the cap cost. It is worth a try but don't be disappointed if you don't get all of them..
Something doesn't sound right here. Is this a used vehicle or dealer demo? This is the first time I've heard of a 2007 35x for less than invoice. Residual and money factor make sense. But $420/month before taxes would be an outstanding dealif it is a new vehicle.
By the way, I have talked to 3 different dealers since I travel and can get the vehicle anywhere. Two in the MW and one in the SE. One common thread I've found is that Infiniti is pushing the 39 mo lease, and 15k miles is a much better deal than 12k. You can even play with Infiniti's lease calculator on their web site and you'll find the same thing.
Therefore, I think you need to start with the 39 mo lease/15k miles. I don't think they negotiate much with the residual. Not a whole lot of room with the money factor either from what I understand. So it really comes down to how much you can get them to move off the MSRP. And like any vehicle, that will depend on how much inventory they need to move.
I think all we need to do is to run some number with a lease calculater to figure it out. And for DDW, you can look up real quick in your contract for your cap cost and you can figure out if the car is over or below invoice.
Look like this dealer is making DDW pay all the acquision fee, doc fee, 3 yr resgistration etc upfront (and there is still $150+ fee that is not account for in the 2600 drive off). And the 420 a month essentially just pay for the depreciation and rent fo the G35. What I got is a car with MSRP of 34965 and a cap cost (or selling price) of 32700. The KBB invoice for this car is 32083. So it is either 600 above invoice or 750 above invoice (when you account for the 150 not accounted for drive off).
In April I purchased a new G35 from Troncalli (Now Nalley) Infiniti in Decatur Georgia. The salesman had numerious salesman of the month awards in his office. After driving the car and discussing color, options etc I asked if there was room to deal and the salesman said yes. We talked some more and the salesman asked what did I have in mind and I said $1000 over cost. The salesman said he could do that further discussions revealed that the dealer holdback was untouchable and what the salesman was talking about was dealer invoice. The car I wanted was the Journey G35 with the Premium package and the XM radio. Well, then we got into that the cars all came with the sport wheels and tires plus $400, and the trunk mat and net $45?, and the stone guards $135, and that there was a $700 distributor charge and a $595 charge for shipping tthe car from the port. And he didn't have a Journey in stock but he had one that was due that day that was perfect except that it didn't have the XM radio in it and I would have to pay $785 for the Xm radio to be dealer installed instead of the $259 dealer cost for XM already installed. I know I should have gotten up and left right then but I didn't. So, he wrote this up showing a total price without the breakout of each item. And I gave a deposit and left expecting the car to be ready the next day. Well, the next day the car wasn't there he didn't know where the car was but he was checking and will call me when he knew something. Finally two days later he called and said the car had been damaged and that obviously I didn't want that one but I had found one just like it but it had Serius radio instead of XM and the installation of XM on that car would require a seperate antenna instead of the "sharks fin" antenna normally used. I asked if he had any alternatives to that car and he said yes he had a car that had everything I had asked for but it was a different color. The only exception was that this car did not have the sport tire and wheel Package, remember all cars only came with the sport wheels and tires. He agreed to adjust the price to reflect the wheels and tires and I accepted this car. So, I this point I believe I am getting a G35 Journey with standard tires and wheels, dealer installed XM radio, stone guards, trunk mat and net, and the Premium package, $700 distributor charge and $595 charge to ship the car from the port. I picked up the car and signed all of the paperwork, note all the paperwork still did not list the options on the car just the VIN number and the total cost plus the taxes. You can imagine my surprise when a few days later I look in the glove box and the window sticker says that this car came with the XM already installed This would cost me $259 vrs the $785 I paid. When I called up the salesman he says the there was an additional $400 charge to bring the car in from another dealer and he just forgot to mention it and figured that the offset would cancel the difference out. When I said he was still $126 off he said the the quality control preson would call me in a few days and to work it out with her. When she called I said I really thought I should get the full $785 for the deception she said she would check into it and get back to me. I have yet to hear from her. I have bought a number of premiun and non premium cars. This is not the kind of deception I expected when buying the Infiniti so I was not prepared to deal this way and it caught me completely by suprised.
This is my experience as nearly as I can relate it.
Thanks for the comments. It looks like I got the car for $253 OVER dealer invoice. Here are the figures from my "Signature Lease" form:
MSRP $37,015 Dealer Options (Sirius radio)$ 350 Residual $20,551 55% Money factor .00159 (maybee it was less?) depreciation $14,125 Rent $ 3,425 Total Base payments $17,550
Agreed upon value of vehicle $34,079 (KBB $33,826) Up front sales tax $ 1,206 Dlr Svc Opt (Sirius radio) $ 350 Total Gross Capitalized Cost $35,635
Lease Details: 39 month lease 15K miles year Total monthly payment w/NJ 7% tax $450
Cap Cost reduction $ 959 First month payment $ 450 4 year NJ Registration $ 334 Sales Tax paid in advance $ 14 Doc Fee $ 199 Aqu Fee $ 595 Aqu Fee tax $ 41 NJ Tire tax $ 8 Total OTD cash paid $2,600
This was a brand new car, only 18 miles. I tried the lease calculator at http://www.leaseguide.com/calc.htm and it yields a monthly payment of $481.50, mine actual payment is $450? I'm quite happy with the deal I got. By the way, the car is nice too! Can't wait to drive it again tomorrow.
I hope this helps others. I wish I knew about http://www.leaseguide.com before I signed the deal. Looks like a lot of good information there.
the reason for the difference in price from the lease calculator is probably from the $959 cap cost reduction. Basically, every 100 in cap cost reduction results in approx 3 dollars in monthly payment reduction. So, in essence if you got the car for $253 over invoice, you also need to add the $959 cap reduction to get your true cap cost...you just paid for it up front instead of over the course of the lease.
Comments
$1988 drive off (license, 1st month, doc fees)
$545/Month for 36 months
12000 miles a year.
This had a money factor of .00178
Residual was 57%
The car had 385 miles on it also because the General Manager had been driving it all week. How much does that matter for you guys? I was bothered by it but told them I would lease the car if they gave me the deal I wanted which was
$500 over invoice
.00178 money factor
58% residual.
They declined and said the previous offer was the best they would do. What do you guys think of the lease I'm trying to get?
Thanks for the input!
Angie
Thanks
Angie
$4k down
$457 a month
2 yr/15k annual lease
or
$4k down
$469 a month
3 yr/15k annual lease
Not sure what the residual is, rate based on Tier 1 credit (this was an over-the-phone deal).
G35 Coupe Automatic
Premium Package
Navigation Package
XM Radio (I didn't want it, but the dealer couldn't get rid get of it)
Sport Tuned Suspension w/ 19-inch wheels
Input will be greatly appreciated. Thank you
Offered from Metro Infiniti of Monrovia, California. This was from the fleet manager.
I am thinking of getting an 07 coupe before the 08s come out.
Does anyone know what they are going for these days in relation to invoice?
also, what are the current residuals and money factors? I am debating getting one with just the sunroof and spoiler, or going for one with the premuim package.
thanks in advance for your help
36 months
12,000 miles
57% residual
$500 over invoice
doc fees are $369
I'm suppose to get the MSRP in the next couple of hours so assuming there are no bogus dealer add ons what do you guys think of this lease? I'm assumming my cap cost is going to be $35600. Good deal or not?
But what is the advantage to the dealer in doing so??? The residual is what you are paying for the car after the lease is up? I leased about 11 vechicle in the last 16 years and I have never see a residual difference from any quote if I use the same leasing company. The only case I see a difference in residual is when I shop for a RX300 from Lexus financial vs Chase (dealer offered Chase instead of Lexus financial lease). I believe Car_man discussed this topic too.
Do you closed your deal yet? I have a clueless salesman from Inifiti of Oakland (1500 over KBB invoice) and the best quote I have now is from Fairfield for 750 over KBB invoice (they claimed 500 over invoice but it must be over the invoice with the ad fee). The upside is that it is the exact options that I want. I have a guy from Frontier that quote full MSRP (and I am guessing that it is a no go, lol)
07 Journey/Prem/Nav/Tech/Tire lakeshore Slate with Stone interior:
MSRP: 38565
Invoice: 35186
Cap cost: 35702.38+595 acquisition cost (516 above KBB invoice)
money factor: 0.00022 (after 9 security deposit)
residual: 25584.9 (66.34%??)
Monthly payment: 437.88 + tax = 474.01
Driver off: 527.05 cap cost reduction + 474.01 + reg fee 299 + 43.48 tax on cap cost reduction +45 doc fee + 8.74 tire fee + 3.71 doc tax + 4950 refundable deposit = 6351
Charge 3351 out of the 6351 on a credit card and rest in a check.
It took a while to get to the final price. Fairfield is very straigth forward with their quote but it take some going back and forth to get the final price (wifey did the final negotiation after all the quote is in and she got the last 250 reduction).
I got a total of 7 quotes and the quotes are very far apart from each other. One quote MSRP, other play game with money factor and drive off. Most center around 1000 above KBB invoice with some below that. Fairfield have a very young crew (most sales and finance manager are in late 20, early 30) and they are very easy to work with. The buying experience has been great (Let's see whether the sales guy will send us the infiniti mug that he promised. heh heh).
Thanks everyone for your help and information. It may leasing this car a lot easier and so far I really enjoy the car after driving it for an hour or so.
Whats the details..price,monthly,down,term.etc..
--List $37,665
--Discounted price $35,509
--39 month lease
--15K miles
--55% residual
--money factor .00250
--due at signing $779.63
--monthly pmt $599.08
It seems high to me based on what I see on the board, however I'm assuming there are regional differences in pricing (was told to "take it" by Crest Infiniti). Where should I drive the negotiation further?
Thanks!! Trying to pull the trigger on this tomorrow morning.
Here are the details:
MSRP--35790
Invoice--32892
My price--32343.46
Residual--58%
Money factor--can't remember
Total out-of-pocket(including 1st payment, tax, motor vehicle charges and acq. fee)-- 3400
Monthly payment(tax included) -- 370
I paid
$500 over invoice + 200 because the car had ceramic tint.
Options
Prem, Nav, Tech, Wheel and Tire, Splash Guards, Cargo Net
Price of car was $36032 + $595 bank fee = $36627
Down payment was
$500 Cap Reduction
$555.17 license and registration
$533.52 monthly payment
$299 Doc Fee.
$5 tire fee.
$40.50 sales tax
Grand Total $1933.19
57% residual = $22090.35
.0178 money factor
Car details - G35x AWD, premium package A, splash guards, non-sport, 50 state emissions, firstaid/literature kit, trunk cargo net, sirus satellite radio, MSRP $37315.
Cash Due at signing:
1st monthly payment $450
Sec fee $0
Bank Fee $595
Tax on bank fee $41.65
Doc Fee $199
tax on Doc fee $13.92
NJ Tire tax $7.50
NJ 4 year registration $334.00
Cap reduction $958.92
Total $2600 out of pocket
lease details:
39 months
15 miles/year
No disposition fee
monthly payment $420.56 plus $29.44 (NJ tax) = $450/month
I was told by the salesman that my residue factor was .56 and the money factor was .00159. I was told that it was "below invoice" which I think is $34,194. just not sure how much below. I tried the calculators here and I think I got it for about $1200 UNDER invoice?
Can anyone verify this?
I was at infiniti of denville in NJ 9:30 this morning working out a deal on a G35X with prem and Navi with cargo net splash guards. I was giving:
39 Month
15 miles/year
$1500 OTD total
$535.00 month
I was told the Money Factor was .00159 as well. BUT i was giving 55% on the residual
Not probably, for sure
The residual is set by the lease bank and can't be changed by the dealer. So as long as you are looking at a captive (Nissan credit) lease the number should be the same for all. The difference is normally a 2% lower residual for 15k per year than 12k per year. They are also one of the few to offer 10k per year lease - on these the residual is 1% more than the 12k lease.
Dennis
I was at a Salerno Duane in NJ on Sat, and I’m hoping to call them today to close a deal today but wanted to know everyone’s option before I called them back. I was offered:
1400 OTD
15000 miles per year
39 month lease
535.00
I was told the Money Factor is .00159 and the residual of 55%
For a 2007 G35x wit Prem and Navi with cargo net splash guards
I was thinking of calling and telling them I’ll close if they could do 1400 OTD but 510 a month. What’s everyone take on MY offer?
You did not include the cap cost and whether the 535 include tax. So it is hard to judge whether it is a good deal. However, be aware that the $25 monthly payment reduction equal to be a little bit less than 25*39=975 reduction on the cap cost. It is worth a try but don't be disappointed if you don't get all of them..
By the way, I have talked to 3 different dealers since I travel and can get the vehicle anywhere. Two in the MW and one in the SE. One common thread I've found is that Infiniti is pushing the 39 mo lease, and 15k miles is a much better deal than 12k. You can even play with Infiniti's lease calculator on their web site and you'll find the same thing.
Therefore, I think you need to start with the 39 mo lease/15k miles. I don't think they negotiate much with the residual. Not a whole lot of room with the money factor either from what I understand. So it really comes down to how much you can get them to move off the MSRP. And like any vehicle, that will depend on how much inventory they need to move.
Look like this dealer is making DDW pay all the acquision fee, doc fee, 3 yr resgistration etc upfront (and there is still $150+ fee that is not account for in the 2600 drive off). And the 420 a month essentially just pay for the depreciation and rent fo the G35. What I got is a car with MSRP of 34965 and a cap cost (or selling price) of 32700. The KBB invoice for this car is 32083. So it is either 600 above invoice or 750 above invoice (when you account for the 150 not accounted for drive off).
http://www.leaseguide.com/calc.htm
Well, then we got into that the cars all came with the sport wheels and tires plus $400, and the trunk mat and net $45?, and the stone guards $135, and that there was a $700 distributor charge and a $595 charge for shipping tthe car from the port. And he didn't have a Journey in stock but he had one that was due that day that was perfect except that it didn't have the XM radio in it and I would have to pay $785 for the Xm radio to be dealer installed instead of the $259 dealer cost for XM already installed.
I know I should have gotten up and left right then but I didn't.
So, he wrote this up showing a total price without the breakout of each item. And I gave a deposit and left expecting the car to be ready the next day. Well, the next day the car wasn't there he didn't know where the car was but he was checking and will call me when he knew something. Finally two days later he called and said the car had been damaged and that obviously I didn't want that one but I had found one just like it but it had Serius radio instead of XM and the installation of XM on that car would require a seperate antenna instead of the "sharks fin" antenna normally used. I asked if he had any alternatives to that car and he said yes he had a car that had everything I had asked for but it was a different color. The only exception was that this car did not have the sport tire and wheel Package, remember all cars only came with the sport wheels and tires. He agreed to adjust the price to reflect the wheels and tires and I accepted this car.
So, I this point I believe I am getting a G35 Journey with standard tires and wheels, dealer installed XM radio, stone guards, trunk mat and net, and the Premium package, $700 distributor charge and $595 charge to ship the car from the port. I picked up the car and signed all of the paperwork, note all the paperwork still did not list the options on the car just the VIN number and the total cost plus the taxes.
You can imagine my surprise when a few days later I look in the glove box and the window sticker says that this car came with the XM already installed This would cost me $259 vrs the $785 I paid.
When I called up the salesman he says the there was an additional $400 charge to bring the car in from another dealer and he just forgot to mention it and figured that the offset would cancel the difference out. When I said he was still $126 off he said the the quality control preson would call me in a few days and to work it out with her.
When she called I said I really thought I should get the full $785 for the deception she said she would check into it and get back to me. I have yet to hear from her.
I have bought a number of premiun and non premium cars. This is not the kind of deception I expected when buying the Infiniti so I was not prepared to deal this way and it caught me completely by suprised.
This is my experience as nearly as I can relate it.
MSRP $37,015
Dealer Options (Sirius radio)$ 350
Residual $20,551 55%
Money factor .00159 (maybee it was less?)
depreciation $14,125
Rent $ 3,425
Total Base payments $17,550
Agreed upon value of vehicle $34,079 (KBB $33,826)
Up front sales tax $ 1,206
Dlr Svc Opt (Sirius radio) $ 350
Total Gross Capitalized Cost $35,635
Lease Details:
39 month lease
15K miles year
Total monthly payment w/NJ 7% tax $450
Cap Cost reduction $ 959
First month payment $ 450
4 year NJ Registration $ 334
Sales Tax paid in advance $ 14
Doc Fee $ 199
Aqu Fee $ 595
Aqu Fee tax $ 41
NJ Tire tax $ 8
Total OTD cash paid $2,600
This was a brand new car, only 18 miles. I tried the lease calculator at http://www.leaseguide.com/calc.htm and it yields a monthly payment of $481.50, mine actual payment is $450? I'm quite happy with the deal I got. By the way, the car is nice too! Can't wait to drive it again tomorrow.
I hope this helps others. I wish I knew about http://www.leaseguide.com before I signed the deal. Looks like a lot of good information there.
-DDW