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Comments
MSRP Invoice Others are paying
$33450 $30763 $31176
Prem: $3500 $3017 $3017
ColorAdj: -$42
Dest. $715 $715 $715
ZipCodeAdj: -$488
Total: $37665 $34495 $34378
Also,I may get the navigation system and I have no trade-in
Virgil
Also, could anyone provide the 39 mo. residual info for the Journey and the 35X for 10,000 miles? Some postings on this site say to add 2% to the 15K numbers, others say to add 3%. Would appreciate the guidance.
Here's what I got -- please let me know your thoughts:
G35X with Premium Package, 39 mo. lease/10K
Cap. Cost $33,282.36
Tax: $1,585.01 (8.625% tax in my region - NY)
Bank Fee: $595
wheel locks: $75.99
residual 56.19%
license fees $55
tire fee: 12.50
registration/plates: $170
no trade-in
Monthly payment: $474
Due at signing: $787.48
I should mention there are 2864 miles on the car, as the dealer drove around in it for a while, but it's not pre-owned.
For the life of me, I can't get the numbers to work out, but I'm wondering if you think it sounds like a good deal.
Thanks so much.
Anyway, the cap cost was given to me as $32,450.
To lease it for 24 months:
Cap Cost Reduction $0
Money Factor 0.00131
Acq/Bank Fee $595
Residual $24,029.55
Doc Fee $45
Monthly Payment $425.33
Drive Off Pay $1,970.07
which includes
Pay for 1st month $425.33
Acq/Bank Fee $595
Doc Fee $45
Waste tire pay $12.50
Tax rest of drive off pay
Now, my questions:
1. I was told that Acq Fee cannot be reduced, since it comes from the bank. Is that actually true?
2. Residual value, which is 67% was calculated from MSRP, not from Cap Cost (which is actually ok by me, since this makes the difference between cap cost and residual smaller, hence less to pay). But is this correct?
3. Since the only difference between lease and purchase is the acq/bank fee + tax on it, in case if I would want to buy the car, does it not make sense to lease the car for 24 months and then buy it at the end of the lease.
I did read alot of questions on this thread, but any other recommendations will be appreciated.
Thanks for all the help.
I am picking up the car tomorrow, so would be so grateful for some input.
Here's my previous posting (revised to add MF):
Just got the following deal and wanted to run it by my fellow forum shoppers.
Also, could anyone provide the 39 mo. residual info for the Journey and the 35X for 10,000 miles? Some postings on this site say to add 2% to the 15K numbers, others say to add 3%. Would appreciate the guidance.
Here's what I got -- please let me know your thoughts:
G35X with Premium Package, 39 mo. lease/10K
Cap. Cost $33,282.36 (includes destination fee of $715)
Tax: $1,585.01 (8.625% tax in my region - NY)
Bank Fee: $595
wheel locks: $75.99
residual 56.19%
license fees $55
tire fee: 12.50
registration/plates: $170
MF: .00177
no trade-in
Monthly payment: $474
Due at signing: $787.48
I should mention there are 2864 miles on the car, as the dealer drove around in it for a while, but it's not pre-owned.
For the life of me, I can't get the numbers to work out, but I'm wondering if you think it sounds like a good deal.
Thanks so much.
My dealership said there is no possibility of making any changes to the standard lease form, so he gave it to me to read beforehand.
Is that true -- no changes?
I realize I'm mostly focusing on the monthly payment, but whatever number they put on the top line will affect my buyout price at the end, so can someone please tell me what numbers are properly included in that? Wheel locks? Acquisition/bank fee? etc.
Many thanks.
Also, good question about Destination, Acquisition, and Doc fees. Does the biyer have the choice of adding this to monthly payment, or do they have to be paid up front?
I ask because the whole purpose of leasing, iMHO, is to pay as little up front as possible, and "pay for use."
Finally, I'd like to hear from anyone in the Midwest who has leased a 35x recently. I haven't seen any quotes in WI or Chicagpland that come close to the pricing in SoCal, NJ, and other places mentioned in the forum.
If dealers are adding them, you're either paying for them, or their throwing them in to sweeten the deal.
Infiniti lists the wheel lock set on their Accessories page for $49-.
If you know of a dealer charging you $170- for them, call them out on it.
I agreed to meeting my salesman halfway between MSRP and Invoice, but this was months ago and the price I got was below what others were paying in my area for the exact model and option pack I wanted.
After agreeing to a price, he then tossed in Wheel Locks and All-Weather Floor Mats.
The wheel locks were a freebie... the mats were a gift to make up for a mistake they had made upon delivery.
When the lease bank is doing a discounted rate, I always advise to put as little down as possible and use their cheap money and keep yours in the bank.
Dennis
The MSRP may be only $49 but they had to pay the salary of some highly skilled, factory trained, technician to install them on the car - hence the $170 charge.
Right.....
Dennis
Dennis
Thanks,
J
1.93 / 2400 = 0.000804
What other terms did they offer you? (Residual %, MSRP, CapCost, months, etc...?)
G35X with Premium/Nav/cargo net
MSRP $38,950
Cap cost $35,904 (VPP price)
$0 cap reduction
First month's payment due at signing
Residual 57%
Term 39 months
Miles 15k
Money factor 1.93 or .000804
Tax % = 7.56%
Monthly payment 502.81
Tax 38.01
Total payment 540.82
Is this a good deal?
J
The acquisition fee is $595 and the dealer fee is $489.
Thanks in advance for comments about this deal.
J
In your case, I am pretty sure the dealer gave you the MF but in "shorthand" - when they said "193" or "1.93" I think they meant 0.00193 MF.
0.00193 MF = 4.632% and is more in line with what Infiniti has been doing on the G leases. 1.93% is possible, but is a really cheap rate.
Dennis
The lease rate is 0.00193 .
If I put in your price + $595 +$489 and get $36,988, the residual is $21,812, 39 months at 0.00193 = $502.61, $540.61 with tax. So those numbers are about right on the mark - probably some fee/tax makes the difference.
If you found a dealer that did not charge the doc fee at all and gave you the VPP price your payment with tax would be $526.11 per month - a savings of $14.50 a month or $565.50 over the course of the lease.
The closest "doc fee free" dealer I KNOW of to you is an 8 hour round trip drive, so might not be worth it - but use the Infiniti dealer locator pages and call them all near you and see what you can find.
Dennis
anyone has July IFS official MF and residual for 2007 G35 coupe?
Thanks
Dio
J
Could the Journey factor be that much lower or are we getting BS factors from the dealer.
If they want/need to push one model or style the have a cheaper rate on it, ones that do not need as much help have a higher rate.
Last month the x had the lowest rate and tied for highest residual % of the sedans. The coupe always has a higher residual (stronger resale value) but the rate may be a bit higher than the sedan. Now that we are 8 weeks or so from G37 coupes arriving, the coupe lease deals may get even sweeter to move them out.
Dennis
2007 Infiniti G35 Coupe
24 Month – Residual 67% of MSRP – .00174 Base Rate
36 Month – Residual 57% of MSRP – .00180 Base Rate
48 Month – Residual 48% of MSRP – .00229 Base Rate
60 Month – Residual 37% of MSRP – .00255 Base Rate
2007 Infiniti G35 Sedan
24 Month – Residual 67% of MSRP – .00161 Base Rate
36 Month – Residual 57% of MSRP – .00195 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 65% of MSRP – .00191 Base Rate
36 Month – Residual 55% of MSRP – .00175 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 67% of MSRP – .00156 Base Rate
36 Month – Residual 57% of MSRP – .00193 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
Note: I think the 12k residual is now just 1% higher and not not as Tarry shows. So add 1% to the residual shown for 12k per year leases and 2% for 10k per year. The dealer can't change this, so you will get the "right" rate no matter which of us is correct.
Dennis
Would you mind getting the same rate info for the Infiniti's FX35? Would totally appreciate it! Thanks!
Here is a link
Dennis
MSRP Invoice Others are paying
Base Price $33450 $30763 $31176
Prem Pkg $3500 $3017 $3017
ColorAdj -$42
Dest. $715 $715 $715
ZipCodeAdj: -$488
Total: $37665 $34495 $34378
Virgil
Thanks for posting the July terms.
Do you know how making additional security deposits lower the MF for the G35?
I know that for the BMW 328/335 each one lowers the MF by o.0007.
thanks!
With the new G37 coupe arriving at dealers in 6 weeks or so, most dealers are DESPERATE to get the 07 G35 coupes off the lot. You should be able to lease at or below invoice if you will take one off their hands. So find a dealer that has little or no doc fee and will give you the buy rate and see how low they will go. If you don't mind getting an 07 it should be a super time to lease or buy one.
Dennis
I think BMWFS will take up to 7 deposits to reduce the MF, but this is something that has never interested me - so I have not done it.
Dennis
Also, the other person you were responding to probably had a lower money factor because he was looking at a coupe and you were looking at the sedan...correct? The money factor should be very good on the coupes now since the 2008 will be out in a month.
Also, using addl. security deposits is not available everywhere...I believe I heard that NY doesn't allow it, but I can't remember exactly. I do know for a fact that it is available in California as I personally put down 9 security deposits when I leased mine in January
May be I'm getting too crazy on my future laser red G35 coupe lease
Thanks
Dio
Dio
Dennis
The rest of the deal was:
39 mos/15k miles - 54% Residual
39 mos/12k miles - 55% residual
MF = .00247
The payments came out between $706 and $756. This doesn't appear very attractive. I would really appreciate any comments.
First off, $1,250 off of MSRP is not that good a deal. The chrome wheels you do not need, ditto the overpriced spoiler, the tint might be handy in TX but you could probably get it done later for less, the "protection" stuff is just a plain old rip-off.
The dealer is correct in that you/they can't "residualize" dealer add-on crap-o-la which mean you are paying 100% of those items, not 54% or 55% of them.
I would find a new dealer, one that will let you lease the car for a lower cap number and without all the add ons.
We have a high tax rate here (7% on the base payment every month), and I think you could lease a loaded sport car here (tech/nav/premium) for around $525 a month taxes included with only 1st payment due at signing.
Dennis
Once you have the right price you make sure they are giving you the buy rate on the lease and not marking it up. If so, you should be under $500 a month on the lease not including taxes with just first payment due at signing.
You can google up and find an online lease calculator someplace. You plug in your negotiated price as the "cap cost", figure the residual based on the numbers I posted earlier and plug that in, use the money factor I posted earlier, and find your payment w/o tax. Don't forget there is a $595 lease acquisition fee that has to be paid, so roll that in on top of your price.
Dennis
1st. Those add-ons are nothing more than over priced ginger bread.
2nd. Fund providers, as well as residual insurance carriers, realize that dealer add-ons are grossly inflated. And so, they will not residualize the full amount of the adds. For instance, only $800 of the $1300 chrome wheels may be residualized. When one sums the allowable dollar amounts of all the adds and then adds this sum to the MSRP, one arrives at the Adjusted MSRP. It's also possible that some items included in the MSRP may not be allowed to be residualized. In these instances, those dollar amounts would be deducted from the MSRP to determine the Adjusted MSRP. At any rate, the dollar amount of the residual value is computed as follows...
Residual Factor x Adjusted MSRP = Residual Value
3rd. It's possible that with all the add-ons, the Adjusted Capcost may have very well exceeded IFS's Maximum Funding Level (MFL). The MFL can run anywhere from 90% to as high as 120% of the MSRP as a general rule.
What you need to do is check Edmund's for invoice pricing. '07 G35's should be relatively easy to get for close to invoive because the G37's will be out very soon. By all means, establish selling price first. That will determine your Gross Cap in most instances. Money down (cap reduction using cash or trade credit) will be deducted from the Gross Cap to determine the Adjusted Cap. Cash down is a bad idea for reasons already given by Dennis. Below is the money factor formula used to determine your base monthly payment...
Payment = Money Factor x (Adj. Cap + Residual) + (Adj. Cap - Residual)/Term (months)
Always ask for the money factor with 0% reserves. This is called the buy rate or base rate. Reserves work in much the same way that points do on some mortgage loans. However, the reserves are embedded in the money factor so you're paying them via an inflated money factor and, often, without realizing it. So, be careful!
Hope this helps.
John
I the lessee wants a coupe, this is true. The G37 coupes should arrive at dealers in about 6 weeks now. You should be able to lease the "old style" 07 G35 coupes for about invoice including any dealer fees.
For the G35 sedans, they are in the first year of the redesign and the 08 sedans will still be G35s with only modest changes. The target price for these will be a bit higher, more like $300-1,000 over invoice depending on where you are located.
Dennis
Still trying
Bob
Bob
You negotiate the price on the car just as if you were buying ($300-$1,000 over invoice would be OK for a sedan). Once you have the price settled, then you move on to the lease terms. I have posted the lease money factors and residual percentages, you add in the $595 bank fee and calculate the lease payments. Figure in the taxes, tags, and title and you are done. If that is too much for you, just get the price of the car fixed and make sure the dealer gives you the "buy rate" on the money factor and you should come out OK.
Tax is varies too much to know what your payment should be, you need to get the payment (using the above method) without tax and then see how good that sounds. My guess would be $450-470 a month without tax with just the first month's payment due at signing.
Dennis
You need to be in control of the deal. A good way to do this is to create a one-page lease proposal similar to the one below and FAX or e-mail it to the dealer. The only thing you want to hear is a definitive YES or NO. It will save you lots of time and money not to mention frustration. Check this out...
Lease Proposal
Pricing Information
Base MSRP 2007Infinity G35 Coupe (3.50L 6cyl 5A) . 33,450.00
Exterior: Diamond graphite . .......... . 0.00
Interior: graphite (black) leather . ... .. 0.00
Sun Roof .................................. . 1,000.00
Destination Charge 715.00
MSRP .. .. . 35,165.00
Lease Payment Calculation
Agreed Upon Value .. 32,337.20
Acquisition Fee 595.00
Gross Capitalized Cost 32,932.20
Adjusted Capitalized Cost 32,932.20
Residual Factor .. 0.55
Residual Value (Res. Factor × MSRP) .. .. 19,340.75
IFS Money Factor . 0.00180
Term (months) 39
Base Monthly Lease Payment .. . . 442.59
Pa. State Sales Tax @8.00%................................................................................. 35.41
Monthly Lease Payment w/Tax . 478.00
Initial Lease Charges
Title, Registration, Plates (estimated) .. 200.00
1st. Payment ... 478.00
Amount due at lease signing . . . 678.00
GAP insurance protection is included in IFS lease.
No Disposition Fee.
Annual Mileage Allowance: Residual Value reflects an annual mileage allowance of 15,000 miles.
____________________________________________________________
I can never get this stuff to line up properly. At any rate, be advised that you'll need to confirm the 39 month residual factor (I'm guessing 55%) as well as your Pa state sales tax rate (I'm guessing 8%). Also, I think Pa taxes the payment streams but I'm not sure and so you'll need to confirm this as well. Anyway, this is only meant to give you an idea. Note that the Agreed Upon Value (i.e., Sell Price) is slightly under invoice.
Also, for every security deposit paid, IFS will reduce the 0.00180 MF by 0.0001. So, for example, assuming your payment before MF reductions is $478 including tax, your security deposit would be $500 ($478 rounded up to the next whole $50). If you elect to pay, say, three (3) security deposits or $1500, your MF would be 0.00180 - (3) x 0.0001 = 0.00150.
Three (3) security deposits would lower your $442.59 base payment by about $15.68 each month. So, your new base would be 426.91. Adding tax, your payment would be $461.06 which is a monthly savings of $16.94 over the proposed payment of $478.00. So, your $1500 refundable security deposits saves you a total of $660.66 over the 39 month lease term. Sounds like a great deal to me! Where can you earn $660 on an investment of $1500 over a period of a little over three (3) years? That's the equivalent of an after tax ROR of 11.3% annually! I understand from another poster (confirmed by a local Infiniti Dealer) that you can pay as many as nine (9) security deposits... you do the math.
Hope this helps.
John