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Comments
g35 coupe 2007
Premium package'
34152.00 <<<<<<,,this how much i am getting the car for...
$453 a month
$3000 down
39 months
15k
PA tax 8%
is this corrct
How did you calculate the numbers? Did you use a lease calculator somewhere?
I have seriously spent the last week reading everything on all the G35 forums....They were sooooo useful. But I am now at the point where I need specific help. please. The model I am looking at is 07 G35X premium, package, wood, splash, cargo
PA-tax 9%
MSRP:37465
APR: 4%
residual: 56%
buy price/residual price: $21,355.05(on 12K he said they were the same)
Sell price:$35828 (he said the cap cost and this are the same)
invoice: $34,328
39 mos
0 down payment
monthly payment is 564.
I learned already from you guys: no down payment! bank fee $595; do it over email (i haven't even been to the dealerships)
money factor: .00193 (which he gave me...)...go in as if you are buying...
but he won't budge on the sales price...how can I back up my request/proposal? I really would like my overall cost to lease the car in the $400 dollar a month not including taxes....am I being difficult? what other info am i missing/needing? "please advise"! Thank you so much in advance.
I have no idea what the tags/title and other fees are up there, but it sounds like they are sticking on some dealer installed options and/or a hefty dealer fee on top of the deal.
The easiest way to save money is to lower the cap cost on the car - and find a dealer that charges no doc fee. If you got the car for $700 over invoice + $595 doc fee the payment would be $518.64 INCLUDING 9% tax. That does not include title/tag type stuff since I don't know what that would be for you.
So if they will not go lower and will not break down the numbers and are charging a large doc fee, then just find another dealer.
Dennis
I asked another dealership:
value:$35865 then went to $34,920
month payment: 551
1356 inception costs
MF 5.35%
Same car: G35Xsedan premium etc....
This person didn't give me the details I want: they are good at avoiding my specific requests...
Tags are $152
What are my next steps in the negotiation process? Stay quiet for a few days?
Thanks again, this has been fun and educational...
Bob
G35x Blue Slate with Graphite
Premium
Nav
Wood
Cargo, Splash, etc
MSRP $39,565
39 Months
15k miles
$1,500 at signing includes 1st month, Acq Fee, Tags, and whatever junk they could squeeze out of $1,500 even
$525 month includes 6% tax
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
This is 15k /yr.
How will the residual and Money Factor (MF) change for 18k/year?
Basic question - how does the above MF translate it into %? I mean what is the formula?
I am planning to put security deposits (SD) to reduce my MF. Is there a situation when I will not get my SD back at the end of the lease. I guess what I am asking is - do we have any fine prints around SDs?
Thank you,
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
You can convert money factors into approximate interest rate equivalents by multiplying them by 2400. For example, a money factor of .00161 is equivalent to an interest rate of around 3.86%.
You will be able to get back all of the security deposits that you made on your lease when you return your vehicle, unless you have to pay an excess mileage or an excess wear and tear penalty.
Car_man
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I am trying to do the math to make sure I can calculate correctly in case they throw me a curve ball. Can you help me make sure I am calculating correctly? Below I have 2 calcs for a 24month, 10k and 36month, 10k.
Financial Proposal w/cash due at signing: Pennsylvania
........ 24mos/10K ....VS...............36mos/10K
Invoice: ..... .$33,613
Cap Cost: .....$34,113 ............$34,113
Actual Agreed Value: ...... $34,113...............$34,113
MSRP: ......... .$37,455
Residual Value ($): .$23,879 ........... ..$20,467
Term: ........ 24 ....................36
Mile Allowance: .10,000 .................10,000
Money Factor (%): 70%/2400=.000291 ... .60%/2400=.00025
Inception Fees include:
Acq/bank fee: .$595
Acq/bank tax: ..$59(est.)
Title/Tags/Reg: $152
Docs: .........$0
Tire Tax: ..... .$5
Tax at 9%.................$39 .... $35
Monthly Payment before tax:$442.41 ....... . ..$392
Car Details:
National Invoice: .........$31,221
Premium: ...... $1853
Wood: ... $388
Splash: ... $114
Cargo: .. $37
Total Invoice: ...............$33,613
Thanks in advance everyone for your input.
07 G35 sedan journey auto. with the prem. pkg and perf. tire and wheel
24 month lease
12k miles
$440 plus tax per month
$2,000 total drive off.
MF .00161, residual 68%
cap cost is $32,965.
It's important to get the best money factor, don't pay any more that $100 or so for doc fees, don't get stuck with paying destination fees, etc. I agree with all that. But to get an X in the Midwest for $500 over invoice is not going to happen.
FIRST- Some of your numbers appear a little funky; particularly your money factors. An interest rate (IR) can be estimated by multiplying 2400 by the money factor. For example, consider your 24 month MF of 0.000291...
IR = 2400 x 0.000291
= 2400 x 0.000291
= 0.70% NOT 70% as you've indicated
The Money factors you provided appear to be awfully low. Did you get them from the dealer or; did you calculate them as shown in your post? When I use the 0.00025 MF, I get a payment of $392.70. When I use the 0.000291 MF, I arrive at a payment of $443.29. Are you sure that the MF isn't 0.00291? This MF would translate to a payment of $595.17. BTW, the payment formula is...
Base Payment = MF x (Adj. Cap Cost + RV) + (Adj. Cap Cost - RV)/Term (months)
The adjusted cap is the gross Cap + amounts financed - down payment (cap reduction). I assume that the $34,113 is the adjusted cap cost.
SECOND- Either the MSRP or the residual value (RV) is off. You need to get the residual factors (RF) for 24 and 36 months. Check the posts or call your dealer. For instance, if the 24 month RF is 64%, then the RV is...
RV = RF x MSRP
= 64% x 37,455
= 23,971.20
THIRD- You show that tax @9% amounts to $39 for the 24 month lease. This suggests that the tax was based on $433.33 (39/0.09). I don't see that figure anywhere in your post. The tax of $59 on the $595 acq. fee equates to a tax rate of about 9.9%. And so, the tax rates seem inconsistent to me.
Are you rounding or ball parking some of these figures? If so, please don't. Leasing calculations demand a high degree of accuracy and ball parking figures simply won't cut it.
If you examine some of my previous posts that show sample lease proposals, you'll discover that my calculations are spot on. I always tell dealers that they can take my lease proposal numbers and transplant them onto the lease contract.
It might be a good idea to examine many of this forum's previous posts for the month of July. I think you'll find that most of your questions will be answered. So many people post questions without first looking at what has already been posted.
Hope this helps.
John
24 Month – Residual 67% of MSRP – .00156 Base Rate
36 Month – Residual 57% of MSRP – .00193 Base Rate
These numbers are for 15k miles a year, and I believe that for 12k miles you add 1%, and for 10k miles you add 2% to the residual values. So, for 24 months your residual should be 69% or $25,844 and a Money factor of .00156, and for 36 months your residual should be 59% or $22,098 and a Money Factor of .00193. Make sense? Now, I'll calculate using these numbers and assuming $500 over invoice (like you stated) and rolling in the bank fee, title, and modest doc fee (lets say $850 total) Your monthly payment for 24 months should be about $402/month including tax. for 36 months it should be about $532/month including tax.
Waiting is good, that lets them decide if they want to sweeten the offer to land a sale. Selection decreases the closer we get to the 08 arrivals but deals should get better as well. If you are having a problem now getting the colors and options you want you may not can wait for a really cheap price - but don't overpay, just wait another month or two and get an 08 if you are going to have to pay "too much".
Dennis
I would widen your search net, I guess. I leased a 'vette convertible from a dealership north of Green Bay in November one time. Highly motivated seller - and he paid 1/2 the haul fee to get the car to TN ($450 or so total). So if you could get the car for $1000 cheaper that will certainly buy a plane ticket of pay for a car haul with money to spare. CT to TN was the most I ever paid and it was $600 or so for an open haul.
If that does not appeal to you, then you either have to wait for them to quit "flying" off the lots or just pay more.
When I had cars totally unsuitable to winter driving (M5, 'vette, S2000, RX-8) I just purchased a cheap and old Subaru AWD and put 4 snows on it. A lot better than trying to make the other cars go in the snow, but where I hardly drove mine you may be in it for months at a time
Dennis
Thank you for your posts. I have read and printed out forum posts (for a while) and tried to do everything on my own.
And yes, I noticed that there are posts from others that are redundant and show a lack of effort on their part. I don't intend to be one of them.
I am leasing for the first time and really want to educate myself on leasing. I'm an academic so the sharing of knowledge is vital to me. I'll read the most recent posts and try to rework the equations for my own understanding.
I'll respond after I do more homework!
Again, thank you sooo much. this information is invaluable.
-Alex
If you like, I will be delighted to send you several sample lease proposals as well as papers I've written on leasing including an Excel spreadsheet. It's always a pleasure to help a fellow academician. Send me an e-mail if you're interested.
Good luck my friend.
John
Car_man
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Besides the dealer, where can i obtain the residual and money factors? Seems like it's a moving target, and based on all of the information I've gathered from the forum, if I'm off with those numbers, it will severely impact my estimates.
Thanks!
Dennis
Now last year, with the new design 07 sedan coming, they have some silly cheap leases on the left over 06 sedans in the fall. Not as much incentive to do that given the mild changes from 07 to 08 in sedans. In coupes, it may be a different story - the 08 G37 is about 3 week out now (IIRC) and once those are sitting on the lot they will run some kind of cheaper lease or other incentives to move out the G35 coupes I would think.
Dennis
My agreed upon value was $300 over invoice ($35637) and bank fee ($595) I paid as part of drive off $6836 (incl $5400 SD).
This forum helped me a lot. Let me know how did I do???
Great forum, helped me much in negotiating my recent lease. I've been offered the basic maintenance package for $670. They claim this will save me a great deal down the road, but then again they say a lot...
Is it worth it, or is this just a scheme to get more money? Any thoughts would greatly be appreciated.
In this case, I would guess the July numbers are gone and they have not received the August numbers yet. So I suppose that means that they can't lease you car until they get the new numbers.
Dennis
The cars MSRP is 39500
For the coupe i should be able to negotiate extensively.
I am putting 3000 down
the payments are 481/mo for 36 mos
for an 07 G35 coupe with everything except navigation
12,000 miles a year
Can anyone give me a better idea of what a good deal would look like??
Here's my proposal:
Lease Proposal
Pricing Information
Base MSRP 2007Infinity G35 Coupe (3.50L 6cyl 5A) . 33,450.00
Exterior: Liquid Platinum . .......... . 0.00
Interior: Stone leather/aluminum . ... .. 0.00
Sun Roof .................................. . 1,000.00
Destination Charge 715.00
MSRP .. .. . 35,165.00
Lease Payment Calculation
Agreed Upon Value .. 31,000.00
Acquisition Fee 595.00
Gross Capitalized Cost 31,595.00
Adjusted Capitalized Cost 31,595.00
Residual Factor .. 0.67
Residual Value (Res. Factor × MSRP) .. .. 23560.55
IFS Money Factor . 0.00174
Term (months) 24
Base Monthly Lease Payment .. . . 430.74
CA State Sales Tax
7.75%...........................................................................- ...... 33.38
Monthly Lease Payment w/Tax . 464.12
Initial Lease Charges
Title, Registration, Plates (estimated) .. 200.00
1st. Payment ... 464.12
Amount due at lease signing . . . 664.12
GAP insurance protection is included in IFS lease.
No Disposition Fee. Annual Mileage Allowance: Residual Value reflects an annual mileage allowance of 12,000 miles.