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Invoice: $36,986
Adjusted Cap Cost:
$36,986 (cap cost) + $595 (bank fee) = $37,581
Lease term: 36 mo / 12k miles per year
MF: .0019
Residual: 60%
Drive-off: $886.28 (first month + license and registration)
Monthly payment: $524.53 (7.75% sales tax included)
Got the deal from Socal, Orange County area.
Deal was this.
39 month
15k ayear
330 OTD
and 538 amonth with Taxes.
Paper work was done on thur night the 31st and car was picked up friday morning Got the car at Salerno duane Infiniti Of Denville great dealership to work with. Sales man very helpfull still is i was there today asking him queitons.
-Gary
Can anyone confirm this? Anyone know the current (June) MF ?
Thanks,
Dennis
They push the 39 month lease (and have for years) because Infiniti finance normally has the same MF for the 36 and the 39 month leases and often the same residual - so basically you get 3 extra months to pay off the depreciation. The net result is a longer lease, but a lower payment per month.
A 15k lease is only a better deal than a 12k lease if you need the miles. Normally the MF is the same for 12k and 15k, the only difference is a lower residual for the 15k lease. The lower the residual the more depreciation you pay and the higher the payments. If you don't need 15k miles it would be stupid to sign a lease that had them. In fact, I think Infiniti will do 10k per mile leases (add about 1% to the 12k residual percentage) so you can save a little money if you don't drive a lot.
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
The residual is set by the lease bank and can't be changed (jacked up for extra profit) by the dealer. The dealer can, and will, jack up the money factor for extra profit. Some will even try to jack up the lease acquisition fee - but this amount is stated on the lease specials on the Infiniti web page, so that one is hard to sneak in.
The first place you start is with the price of the car. No need to even mention leasing until you hammer them on price. Then you have to make sure the dealer is not jacking up the MF on the lease quote. You may have to swallow a little jacking as many "high line" dealerships always mark the MF up for extra profit.
Dennis
12k miles per year
MSRP was $39400
$0 down
$650 a month on a 39 month lease. That payment was a rough estimate per the dealer.
So I decide to copy what creativityrule got and sent it via email to the dealer. He replied "I appreciate you coming to Infiniti of Omaha but there is no way I can sell you the car you were looking at for that price"
That was it. As for the attitude that the dealership had, which was supply and demand and we don't knock off the MSRP I was upset that there such a dealer out there! Anyone had this bad of luck with an Infiniti dealership. I understand that they are the only game in town but serioulsy. Which made it worse was there were only 3 G35X on the lot 2 of which came in that day.
Are you looking at a coupe or sedan? User creativityrule leased a G35 coupe at invoice, if you are looking at a G35x sedan you are not likely to get as good a deal. The coupe is being replaced by the G37 in 2 months, the sedans are a new design are selling well, I am told. Desperate to move the old coupes before the new ones arrive, deals can be had. In some places sedans sell as fast as they unload them, so deals can't be had.
I know what you mean about the only game in town - my "local" dealer is about 20 miles away and they charge $500 for a "doc" fee (some charge more, they say if you complain). They also put a "protection package" on each car before they offer it for sale - some 3m clear stick ons for the front, nitrogen in the tires, and wheel locks - then they have the nerve to add $1,175 to the sticker for this junk! So if you try to deal with them, you start so far away from where you want to be there is almost no point to it. They also mark up the money factor on leases by 1.2% and mark up loan rates as well. They DO have a good stock of cars sitting there, however. I wonder why?
Dennis
For 10k miles:
21 month: 73% 0.00181
36 month: 61% 0.00194
39 month: 60%: 0.00211
For 12k Miles:
21 month: 72% 0.00181
36 month: 60% 0.00194
39 month: 59%: 0.00211
For 15k miles you subtract either 1 or 2 percent (I can't remember which) from the 12k residual, the MF is the same.
Dennis
I am not sure why you are upset about it. If you were sitting in the dealer shoes with people willing to pay MSRP, why shouldn't you be allow to sell the car to high bidder??? I don't think anyone will be sad that a dealer has to sell car below invoice because a particular model is not moving. And there will be a time that G35 will have to be sold close to invoice. May be the game plan is to get even instead of getting mad. Any infiniti dealers in neighboring states? Is buying from LA or one of the more competitive placed city in the East coast a possibility? Broadening the search a little bit more may help...
I wonder how many more cars they could sell if they didn't try to make their whole month on every sale? I think maybe they deal a lot of rich folks who have so much money they don't know or don't care how much they overpay?
I agree everyone should shop around, but there not that many dealerships around in some places and you REALLY have to travel to expand your search.
Dennis
Do you have the lease rates for G35 sedans for June? Specifically the G35 sedan sport 6mt - if the numbers are different from the G35 sport w/auto. 39 month term and 10k miles per year.
I posted the coupe number I found, but I am still looking for the sedan numbers.
Thanks!
Dennis
Infiniti Financial Services Lease Programs – Effective 6/11/07
Programs shown in BOLD may not be as competitive as a comparable bank lease program.
2007 Infiniti G35 Coupe
24 Month – Residual 69% of MSRP – .00195 Base Rate
36 Month – Residual 59% of MSRP – .00194 Base Rate
48 Month – Residual 50% of MSRP – .00238 Base Rate
60 Month – Residual 38% of MSRP – .00250 Base Rate
2007 Infiniti G35 Sedan
24 Month – Residual 65% of MSRP – .00112 Base Rate
36 Month – Residual 56% of MSRP – .00178 Base Rate
48 Month – Residual 46% of MSRP – .00238 Base Rate
60 Month – Residual 38% of MSRP – .00259 Base Rate
2007 Infiniti G35 Sport Sedan
24 Month – Residual 63% of MSRP – .00141 Base Rate
36 Month – Residual 54% of MSRP – .00158 Base Rate
48 Month – Residual 44% of MSRP – .00238 Base Rate
60 Month – Residual 36% of MSRP – .00257 Base Rate
2007 Infiniti G35 X Sedan
24 Month – Residual 66% of MSRP – .00131 Base Rate
36 Month – Residual 56% of MSRP – .00176 Base Rate
48 Month – Residual 46% of MSRP – .00246 Base Rate
60 Month – Residual 36% of MSRP – .00258 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
The numbers I just got from a friendly Infiniti salesperson for the sedan sport are:
36 months - 0.00158 56% residual for 10k miles per year
39 months - 0.00181 55% residual for 10k miles per year
Dennis
He gave me 59% on a coupe for 36 and 15k, the dealers (several) all quoted 60% for 12k and 61% for 10k. If you look at the thread over there Tarry posted this morning:
No, you are correct for Infiniti, 1%/12k & 2%/10k
So it is +1% from 15k to 12k and +1% from 12k to 10k and +2% from 15k to 10k.
Dennis
I was just quoted the following deal on a G35 Sport w/ Premium Package:
36 months, 12K/year
MSRP: 37255
Invoice: 34123
Sale Price: 34454
Money Factor: .00158 (buy rate)
Residual: 55%
Drive-Off: 898.06
All those numbers sound great, except he's quoting me a monthly payment of $548.31 -- when I plug those numbers into a lease calculator, I get $511.48. Am I doing something wrong?
Did you add the $595 lease acquisition fee to the cap cost?
What is your tax rate? What state are you in? Taxes are done differently in some state, but most just tax the payment.
There are also tags, title fees, etc.
Pretty hard to evaluate without all the info. If you plug in $34454, $20490.25, 0.00158, and 36 into the lease calc you get $474.69 per month. If you add the $595 to the cap cost it rises to $492.16 per month.
If the dealer is not charging you a large doc fee and you get your taxes understood then $331 over invoice is a nice price - pretty close to a VPP price.
Dennis
The tax rate is 7.75%, which comes out to about $40/month. (That's where I was getting my $511/month -- basically from the numbers I just quoted you, plus the tax).
I emailed the dealer, and he said that "shipping" comes to $450, then added something about a "bank fee" (which I assume may be the lease acquisition fee). That may be where the difference is.
I agree with you -- $311 over his stated invoice is a pretty good deal; I was just curious as to why my lease factors differed so much from his.
Thanks for your input!
If I plug in your numbers, add the $595 acquisition fee (AKA bank fee) and add your tax I get $530.30 per month. This fee is paid to IFS and you either roll it into the lease or pay it at signing.
The $450 shipping is curious, did they have to locate and bring in your car to you the colors/options you wanted? If so, and they did it via a car hauler or flatbed (to avoid racking up miles on your new car) then that would appear a legit charge, but may be marked up over actual cost depending on how far away they trucked the car. If you picked a car off the dealer lot, then that is a bogus charge.
If I add that $450 to the cap cost I come up with $544.54 per month which is getting close to the dealer's number.
BTW, have you considered the 39 month lease? The residual drops 1 point to 54% and the MF rises to 0.00181, but you have 3 more months to pay off the depreciation so your net payment is less - your total of payments is more, but you get to drive the car 3 more months. If I change to the 39 month MF and residual the payment is $533.43 VS $544.54 I have for the 36 month lease.
Dennis
It does vary from state to state, but here is no big deal but in places where you pay tax on the value of the car or you can't transfer tags then I can see the point.
Dennis
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IFS' current buy rate lease money factor and residual value for a 24 month lease of a 2007 Infiniti G35X Sedan with 15,000 miles per year are .00131 and 66%. Its 36 month numbers are .00176 / 56% and its 39 month numbers are .00177 / 55%.
If you were to lease either of these cars with only 12,000 miles per year their residual values would be 1% higher.
Car_man
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I have seen this car's June lease program and can give you an idea of what it is like. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. IFS' current buy rate lease money factor and residual value for a 36 month lease of an '07 G35 Coupe with 15,000 miles per year are .00194 and 59%, respectively.
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I kind of need fast advise on the following lease:
I am going to get a G35 Journey with Premium, Nav, Tech and tire packages. If the sticker price is $38600. Is a sale price of $34615 good?
If I put the MF (.00112) and residual (65%) numbers that are posted in this thread, along with a $5052 down payment and 7.75% sales tax, I get $254.56 monthly payment. Is this right?
Basically, what is the best deal on a 24 month lease for the car above? I plan on going to lease it tonight and need help fast.
I want to just go into the dealer and lay the pricing I want on the table and say, yes or no. If yes, then buy, if no, then walk. Simple...
Thanks in advance!!
Greg
I would not pay ANY money down into the lease. If the car is stolen or totalled your insurance will pay off the lease bank and likely give you nothing - so there goes your $5,052.
There may be a dealer doc fee ($100-500) and there will be a $595 lease acquisition fee (bank fee), plus dealer added options (if any), and the TTL stuff.
Dennis
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So can you guys post what is the best deal for this car? I am new to leasing.
Greg
That is the easiest way to get a nice price on a car that dealers may not deal on now.
If can't get a VPP code, then when you contact dealers I would would ask them up front what their doc fee is and if they mark up the lease money factors. Depending on their answers you may just want to move on to another dealership. The same is true for side stickers and "mop and glow". If every car on the has had crap-o-la added to it, then it MAY be easier to just go elsewhere.
There are 4 dealers in my state, the closest one gets nearly $500 doc fee, marks up money factors 1.2%, and puts $1,175 worth of stuff on every G. Makes it just about impossible to get a great deal. Other dealers in the state have either no or a low doc fee and either do not mark lease rates or do it in a small amount. Starting with those types of dealers sure makes the dealing easier.
Check their web pages for inventory and see if they have an e-mail or name for "Internet sales". In general, if you call from out of town and talk to the internet sales folks - or "talk" with them via e-mail, they will understand you are looking for the best deal, know what the invoice price is, know what the lease rates are, and will know that if they do not give you a good deal you will just call/e-mail elsewhere.
It takes two to tango, as they say - you need a partner. So no matter what you want to pay, how much you are willing to grind on a deal, and how patient you are if you hook up with a "bad" dealer you will not get the best deal.
I can't remember the last time I walked into a dealership to buy/lease a car when I had not already paved the way via phone, fax, and/or e-mail. The only exception is if I used the local high-priced dealerships for test drives and color choices.
Dennis
G35 Journey Sedan
Color: Platinum Graphite w/Stone Interior
Premium
Nav
Tech
Tire/wheel
Splash guard
Cargo Net
(I don't know why they list the last two options as line item option - petty sales tactics)
MSRP = $38,755
Sale price: $36,350
24 month lease with 15k miles/year
Down: $6000 (I want low monthly payments!)
Monthly payment (including tax): $380
They told me this was a $1000 deal for them. What do you guys think? Your comments are appreciated. I know several of you are not fond of my large cash down payment but I really want low monthly payments.
Cheers,
Greg
It is not that we are not "fond" of large cap cost reductions, it is just risky for you. Total the car or its stolen, you are out $6,000. Put the money in a savings account and draw out enough each month to make up the difference in the payment. Then you have a "low payment" and less risk.
The splash guards and cargo net are two distinct options on the window sticker. Both can be dealer installed, but they are optional and are part of the MSRP in this case. I would guess 99% of all sedans I have seen have these two items on them. I had to look all over the lot to see what a sedan w/o splash guards would look like - I found one car. I think it looks better w/o them, but you would almost need to custom order a car to avoid paying for them. I think those are easily removed, however.
Dennis
2007 G35X w\prem pkg & Sirius
39 months 3500 down 438 a month
Thanks You
So is a $1000 deal decent for me? Of course less is better but at some pint they say no - which happened today. Point taken on the large down payment - I will stick to the lowest drive off $ possible. Can you please help me out with the bottom line here? I want to car lease the car I mentioned above. Can you please post a realistic set of numbers so I can get feel for what is a good deal or not with my stated terms below?
MSRP: $38,755
Invoice: $35,332
Tax rate: 7.75%
I want 24 month lease with 15k miles.
Total (min) due at drive off = ? $
Residual= ? %
MF= ?
Monthly payment: $?
I guess I am just worried about the "extra fees" that I do not know about and/or know what I can expect them to cut. Help me out here...
Thanks,
Greg
MSRP was $38,755 so the residuals would be $25,190.75 and $21,702.80 .
Lets say you paid the dealer's doc fee (if any), the $595 bank fee, taxes, tags, and first month's payment at signing. That would mean your cap cost would be the selling price of the car.
If you could do the deal for invoice, this would be $490.34 per month base payment and $528.34 including 7.75% tax on the payment for the 24 month lease. I assume that is how the lease tax works for you, most states tax the payment but a few do it different. If your deal is $1,000 over invoice, then the payment rises to $574.44 including tax for 24 months.
On the 36 month lease at invoice you would be looking at $517.32 per month including tax, at $1,000 over it would be $549.17 per month.
With the inflated residual and low (2.688%) money factor, the 24 month lease is not much more than the 36. Normally 36-39 months is the best deal, with 24 being too high, but in this case it is a decent option.
So if you paid the $595 bank fee, dealer fee, taxes, tags, and title at signing then you would look for a payment between $528.34 and $574.44 for the 24 and $517.32 and $549.17 for 36 - all payments including tax. The dealer doc fee should be something between $0 and maybe $300 and I have no idea what the TTL would be for you.
Dennis
2007 G35 sport w/ premium, navi, and splash guards
39months/15,000 mile lease
MSRP: $38,790
Invoice:$35444 (Edmunds shows $22 less,not sure of difference)
Negotiated price: $35,944 ($500 over invoice)
$3000 payed at signing for the following
cap reduction: $427.08
first payment: $485.08
VA registration: $56.50
VA State sales tax 3%: $1137 (I think they overcharged me by $59 on the sales tax, oh well I will let it slide)
Doc Fee: $299
Aqu Fee: $595
Adjusted cap cost: $35,944 - $427.08 = $35,516.92
Residual: 53% = 20558.70
MF: .181
Monthly Payment: $485.04
I bought it from Infinity of Chantilly Virginia. They were nice to deal with and come with the first 2 years of scheduled service for free. I recommend them.
Dennis
The $59 dollar difference in tax was because Fairfax county tacks on .17% onto the 3% state sales tax.