Infiniti G37 Lease Questions

joe_bass

Congrats Dennis,

Hoping to join the ranks soon too. Even though you have yours, will you still post the updated MF and Residuals? At least for the next couple of months.

Thanks

dwynne

Sure, if nothing else so I can groan and bang my head when you guys get a lower rate than I did .

Dennis

psquared

Got my delivery date last week and looks like 2/6. I will also be very interested in the new rates as soon as anyone knows them. They do seem motivated to move cars in my area, very curious to see what these rates do. For all that post here; My second visit to the dealership with all the figures down to the last detail sure made my final deal. Again, It was all thanks to this forum, keep up the good work.

troutkilgour

Hi everyone - it's great to see such knowledgeable folks on this forum. I'm hoping for a little help. This past Friday, I applied online for preapproval with infiniti. On Saturday I got a preapproval notice. Saturday night I leased a new infiniti. Ok, so far so good.

Now today, I get another email from infiniti saying they are unable to grant credit on the terms. This looks like form email.

My credit scores are 720, 730, and 680. The dealer said I had "tier 1" credit. But I'm concerned. I've got this car and want to love it, but I'm worried I'm going to get a call from the dealer in a few days saying that nissan didn't approve the lease.

Can anyone help ease my fears or let me know whether there is anything else I can do right now?

Thank you!

dwynne

I would call the F&I person you worked with at the dealership and ask them what is up. If you read this notice online at Infiniti:

Infiniti Financial Services is a division of Nissan Motor Acceptance Corporation. For leases, Infiniti Financial Services acts as servicer for Nissan-Infiniti LT. For ease of reference, we use the term “loan” on this web site to refer to conventional retail auto financing available from car Retailers. IFS is not a direct lender and does not advance funds to car buyers for the purchase of a vehicle. IFS financing is available only at participating Infiniti Retailers. When you finance a car at an Infiniti Retailer, you will enter into a retail installment contract with the Retailer. If IFS approves your credit application, your Retailer may elect to assign the retail installment contract to IFS.

So IFS may have pre-approved your lease online, but they don't disclose (to you) what tier THEY put on the approval. If your dealer writes it for tier 1 and IFS had you at tier 2 then IFS would reject the lease. From the way the notice reads, the dealer could still lease you the car at the tier 1 rate but IFS would not. If that is the case, then you still have the car and the lease terms are good and you would still make payments to IFS for your lease, but the dealer is financing the lease and not IFS. At least that is the way I read that.

A while back I got pre-approval from Toyota Motor Credit for a loan, I also had a pre-approved blank check from CapitalOne. I told the dealer if they could beat the C1 rate I would let them do the loan (and the C1 rate was really low). They beat the rate so I went with a TMC loan. Later I got a rejection letter from TMC. Turns out that to give me the low rate the dealer had to "do" the loan since it was below what TMC was offering at the time. It made no difference to me (other that to briefly confuse me) since the loan was good, I had the car, and I still made payments to TMC.

Contact your F&I person and see what they say and get it clarified. One of the documents you probably signed is a form that says you have to return the car if financing does not go through, it also probably specifies an amount per day ($100?) and per mile ($0.50?) that you COULD be charged if the deal falls through and you have to return the car. Most honest dealers would never charge for this since it is not your fault, but there are some around that do this as a common practice.

Dennis

troutkilgour

Thanks Dennis. For some reason I was really stressing out. I did talk with the finance manager today and he said everything went through - the lease had been approved and they were waiting to receive the funds today or tomorrow.

The crazy thing is I got another (duplicate?) email from the online site today saying again that I was declined.

So I am going to take the word of the finance guy at the dealer and hope there are no surprises!

dwynne

They move pretty fast to get the lease funded (so the dealer gets paid) - I picked my car up on Saturday and got the MCO in the mail on Tuesday (they mailed it Monday). I have to do my own title and registration since I leased out of town, but I was surprised at how quick they moved the paperwork.

Let us know how it goes and if the dealer ever offers an explanation.

Dennis

mistereed

It may just be a fluke but I picked up my coupe 9/29 and as of today, my lease has yet to be funded. I've offered to give the car back because this is such a hassle. From what I can gather, the dealer made some errors in the contract and IFS refused to fund.

This means I am left to deal with incompetent back office workers at the dealership who call me at odd hours acting as if I have done something wrong and demanding I send payments to the dealer. I've offered to give the car back but the GM assures me it is being fixed.

dwynne

Sounds like a nightmare to me!

I always try to stay on top of the deals to make sure everything goes OK. If something does not, I want to be able to act ASAP. Heck, the document I signed says I will pay them $100 per day that I have the G if the lease does not fund (ouch).

I have no idea at this point what I would do if I were you, but it does sound like a dealership to stay away from......

Dennis

jcace

My lease on my 2005 G35 is up in March. I received my end of lease package and says that I am automatically approved by IFS for a new lease. Does this mean they will not have to do a new credit application and less paperwork? I am going to lease a new G35 looks like my payment may go down.

dwynne

I think if you read the fine print you are "pre-approved" until they run another credit app on you . It should be no problem, but if you have been making your payments on time they probably have never pulled your credit since you got the lease xx months back. Most captive lease banks do this sort of thing to encourage current lease holders to not stray from the fold to some other brand.

What I would do is when you are ready to start looking, go ahead and get pre-approved on the IFS lease site. Then you will still have to complete a written app at the dealership. In my case, the dealer (2 1/2 hours away) just took a bare bones app over the phone and filled it in for me to sign when I got to the dealership to pick up the car. Of all the pre-approved deals I EVER got the online one that worked right was from BMWFS. They actually sent a filled out app to the dealer of your choice after you got the pre-approval, then when you arrive to pick up the car you just have to sign the app. In every other case, I have had to fill out an app at the dealership or over the phone DESPITE being pre-approved.

Dennis

christina271

Car Man,

I was wondering what the residual and MF are for a 2008 G35X with 12k miles and 39months.

I was quoted 460 with 7% NJ tax rolled in and 0 cap cost. Just inceptions of about 1500 up front. The MSRP is 37,115, not sure what selling price was that they used.

Thanks!!

dmx434343

Ok i just got off of the phone with my local infiniti dealership and was told on the G37 for 24months 15k RESIDUAL was 73 Percent on Sport and 71 on Journy. Thats +1 Percent FROM LAST MONTH!!! also Money Factor has went down to .00200 Which is almost Half a percent! combine these together and its about $30 in savings per month or about 700 over the 24months! so happy i waited can any one else confirm these numbers?

dwynne

Don't forget, that last month every G37 had $500 in customer cash on it, doubled to $1k if you are a current Infiniti driver. So while the lower rate and higher residual will probably new a better payment, you will be basing that on a $500 higher price - so the difference should be less than the $30 you state.

Dennis

joe_bass

Does anyone know if you can use the equity from a trade to cover first months payment?

I should have about 1K or so in positive equity, and I'd rather use part of it for the first month's payment than have it go toward cap reduction (which I would lose if the car is totalled.

Thanks in advance.

Joe

shov8

I would think you could just have the dealer issue you a check for your equity, and then when it came time to make your first payment just use the funds from that check. Usually people roll that money into the next car but there should be no problem or issue with giving you your equity back. It makes no difference to them.

kc

jack2005

I was wondering if anyone could tell me if this lease deal looks any good?

2008 G35X prem and nav packages
39month @ $449 per month (15K miles per year)
$3000 total out of pocket including all taxes and fees
NY Sales tax of 8.625%

dwynne

I am sure they can write it up any way you want. Just tell them you want to use the proceeds to pay the amount due at signing and not to reduce the cap cost on the lease. Or as was suggested, ask them to just pay you the equity direct and then you can do with it what you want.

Dennis

vince1313

I'm jumping into this G37 lease discussion, but would like to know the latest residuals and MF for G37s as well. Have the official February numbers come out yet? dwynne, in your lease graph, what are your assumptions for miles and length of lease - 10K and 39 mos? Also, is that before sales tax - if not, what rate are you assuming? (Sorry if this is posted elsewhere.)

Also, as for the extension discussion, IFS let me extend my lease for 3 months more at the same rate and simply prorating the miles/month the same rate as in the lease - i.e. 12K for a 12 month lease, so 15K for 15 mos lease.

dwynne

I have updated the graph here:

G35/G37 payment chart

to reflect that it is for a 36 month lease at 45k miles. Also, I changed the January coupe payments to reflect the $500 in customer cash that was available in Jan.

All of the prices are based on a net cap cost of invoice + $500 for the car, destination, and premium package. No tax is included nor is the $595 lease acquisition fee or any dealer fees.

This is not intended to be a guide for what you or anyone else should pay for a G, it is simply intended as a running comparison of the payments based on the set price and single premium pack option. It answers the question "is this a good time to lease?" with a single graph.

Dennis

psquared

Called the dealer today and was quoted .00197MF-59%RV for 36/15k on my G35xS. Which btw rolled off the delivery truck today. Not that I dont trust these guys but would like to confirm the rates if anyone else has the new Feb. numbers.

amb94301

I have been reading this forum for a while, and now that I am ready to lease I hope to get some input and share my experience to help others.

I know the first step is to negotiate a sale price, so I just emailed a few dealers in my area to start the quote process. I am in the Bay Area, CA and am looking to get into a G37 Sport 6MT with Nav and Prem. I'll consider any color except IP (I think it looks great but I'm tired of my white Honda Accord and want a new color).

A few questions:
1) What should my target invoice be? It sounds like people have been getting close to invoice?
2) I'm going to do a 24month lease at 12K/year. Can anyone help me with what the MF and residual would be? I have excellent credit/income and expect to get the lowest possible MF.

Thanks for the help.

joe_bass

Dennis,

I don't see Feb updated in your graph.

Also does anyone have an email addy for someone big in Infiniti corporate? I have a series of emails to forward them related to a dealer that refused to honor a deal.

dwynne

I have not seen the Feb numbers, so I have not updated the payment chart.

There is a whole list of contact names and numbers here: at this link, but I am not sure if these are the correct folks or not.

Dennis

mika01

Picked up G35xS with Premium and Navigation.
The numbers in February seem to be lower for all terms.
My deal for 24month/12K is $495 a month, first month + DMV + 45Doc at signing.
The tax rate is NY 8.375 and I believe that rates for 24/12 are at RV=70% and MF=.00123
The car is very nice I would recommend it over BMW 3 series or MB C class.
Thanks to those who contribute to this forum.
Special thanks to Dennis.

vince1313

Seems like a good deal mika. Is that $45 doc fee?

Is that typical as to what other people are paying - the doc fee seems to vary quite a bit.

kyfdx

Doc fees are capped at $45 in NY..

mika01

I paid $40 doc fee in NY in 2006.
A dealer in New Jersey wanted $240 doc fee.
I am not certain if the document fee is state regulated or something that a dealer decides on, but for leases trough Infiniti Financial there is only one (1) fee that must be paid and that is the Bank fee of $595. Everything else other than the State/Local and DMV charges are dealer inventions such as $700 delivery, $300 preparation and so on.

dwynne

Destination charge is a real fee and is charged to the dealers and passed on to the customer w/o markup.

Dealer "doc" or "prep" fees are just made up fees to make extra profits for the dealer. Nothing wrong with them as long as you include them in your quotes. If dealer "A" charges you $35,000 including a $500 doc fee and dealer "B" wants to charge you $35,200 plus a $50 doc fee for the same car which is better? The one with the $500 doc fee, in this case.

The Hot-lanta are Infiniti dealers are all stuck on a $500 or so fee as is my local dealer. Just down the road a bit is an Infiniti dealer with $0 doc fee.

Dealers with high fees never come off them, but you may can get them off the price to offset all/most of it. It would be a lot easier if they were capped at some number (like $50) as they are in NY. One thing that really irks me is when dealing with an out of state dealer they still want the big fee, then once I get the car they send ME
MSO and power of attorney and *I* go stand in line to title the car for them. Good thing I got the car at a nice discount since I am paying them and I stand in line....

Dennis

Dennis

fsos

Does your monthly include the NYS sales tax number? What dealership did you deal at? What was your sales price for car? Thanks alot.

dwynne

These are all for 36 month, 15k miles per year. I don't have the other numbers, so don't ask . The residuals are all the same as last month, but the rates are all a good bit lower - so the payment is lower this month.

G35 journey sedan 59% 0.00167
G35 sport 6mt sedan 57% 0.00167
G35x sedan 59% 0.00149
G37 journey coupe 60% 0.00192
G37 sport 6mt coupe 61% 0.00192

I updated my chart to show the sample payments compared to prior months, and as you can see Feb is the lowest since I have been tracking on all models. The cars in the chart and equipped with premium pack (only) and leased at $500 over invoice with the bank fee and everything else paid at signing.

Payment chart updated for February

Dennis

chemoy

First I must say Congratulations on your new car and second did your monthly payment include NY state tax? if it did thats a awesome deal. If not I think its still a good deal..

mika01

$495 is a total monthly payment including the sales tax.
The sale price came almost $300 below the published invoice.
On my previous note I wrote $700 Destination and just to clarify that is not the $715 Delivery charge that is part of the MSRP price. One local dealer gave me a sale price of $200 below the invoice, but added a $700 destination charge because he had to get the car from another dealer.
Sales in January were slow and not a surprise that a good number of dealers were OK to go below the invoice. Hope this information is helpful.
Again thanks to everyone in this forum.

kellycm2

I am working on a dealer for a lease on a coupe journey and they are telling me the rate is .002050. is this a standard rate for all of ifs or can dealers move this around? I asked them about the lower rate which you posted and they said they can't do any lower. thanks

dwynne

The rates I posted are the tier 0 and tier 1 IFS "buy rates" for the 36 month term. Any dealer has the option of marking the rate up for extra profit. They could also have to charge a higher rate if IFS did not approve you for the top tier rate. They could also do both on the same deal - marking up a higher rate.

Nothing you can do if it is the tier, but if the dealer is marking up rates just find a dealer who does not mark up the rates (or charge a "doc" fee). Sometimes you can get the GM of a dealership to approval a deal w/o markup on the MF, but generally it is easier to just find a dealership that never marks up rates.

There could also be a typo in the rates as I typed them or as they were given to me. I would simply ask the dealer if they are marking up the rate or what.

Dennis

psquared

Dennis,

I asked this previously a couple of weeks ago but my car was still on order and the rates have rolled to February. We are planning on picking it up Saturday. My example is the g35x. My dealer still insists 740+credit gets the best rate (tier 0) .00149, 700-739 gets the second (tier1) .00197, 650-699 (tier2) and so on. You always refer to tier0/1 receiving the same rate (MF), in this example both would use the .00149MF. Are the just feeding me crap to make more money? My score is 736, the difference between the two factors is $30 a month so its kind of a big deal to me. BTW i can verify the Feb.MF for the g35x .00149, he showed me in print.

Thanks

robger99

My lease is up on my speed 6 soon and am looking for another car. This one looks sharp. What would a good lease price be for 24-36 months 15 k year minimal out of pocket on g37 base? Am in Michigan and there is some competition but not a ton. More big 3 dealers than anything else.Credit score is good.

dwynne

My guy said "these numbers are only good with a tier 0 or 1 approval" which sounds like would be the right rate for you.

If you like at the Infiniti page here it says:

Infiniti Financial Services is a division of Nissan Motor Acceptance Corporation. For leases, Infiniti Financial Services acts as servicer for Nissan-Infiniti LT. For ease of reference, we use the term “loan” on this web site to refer to conventional retail auto financing available from car Retailers. IFS is not a direct lender and does not advance funds to car buyers for the purchase of a vehicle. IFS financing is available only at participating Infiniti Retailers. When you finance a car at an Infiniti Retailer, you will enter into a retail installment contract with the Retailer. If IFS approves your credit application, your Retailer may elect to assign the retail installment contract to IFS.

So that may indicate that the dealer has some flexibility or choice as to what tier you are. We know they can mark up the MF so maybe they can do the tiers too?

Keep in mind that "*Tier is determined by the Auto Finance Bureau Score obtained by Nissan Motor Acceptance Corporation" and they use an "auto enhanced" score. Did the dealer tell you that you have a 736 or did you get this from FICO/FAKO? If you don't have a of car loan/lease history your 736 could be dragged down to a lower number. Similarly, if you have a 736 FICO and tons of high dollar paid off, never late car loans/leases then it could pop you up into tier 0. If the dealer said they pulled your credit with IFS and got the 736 then they should be able to "talk your score up" with IFS to get you the tier 0 rate - you are only 4 points off.

In any case, sounds like you may need a better dealer.....

Dennis

soylentgreen

Dennis, I got this offer today. It doesn't seem to match the Feb lease numbers. MSRP=$36,975 CapCost=$34,438. This is for 39 mo/12K. Total OOP would be $1000 and payments would be $527. Acq fee=595. They didn't mention any doc or bank fees. Residuals match up at 59%.

Another poster here got the same car for $37,225 and he got his payments around the $450 range.

psquared

Thanks Dennis,

Thats is my FICO score. I have purchased 3 new, leased 5 new vehicles in the last 21 years. Never a glitch in a single payment on a one of them. I would assume that would only increase my "auto enhanced" score. Sounds like the sales manager is trying to make some extra coin...... Only Infiniti dealer in town. May have to look elsewhere if he wont accept my terms.

dwynne

I posted the 36 month numbers, I don't have the 39 month numbers. Lately, the rate has been a little higher and the residual a little lower - but a lower net payment - but that may not be the case.

You have to compare base payment (w/o tax) since if I post a payment with 5% tax and someone else posts one with 9% tax it will look like they got a worse deal than I did. You also have to factor in dealer fees and local differences like title, taxes, and tag prices.

You need the selling price, MF, and residual and see how the numbers look and if there is any hidden money the dealer is adding to your deal.

Dennis

dwynne

Yep, you should be top tier it sounds like to me.

Did the dealer actually run your credit or did you say "I have a 736 what would my MF be?". You may just need to let the dealer/IFS get their own number and then you would get the tier 0 rate?

Even if they DID run your score and you were just under the limit (and according to my guy the limit is for 1 and 0) the dealer would be nuts to let you walk away w/o a car and onto another dealer's lot over 4 points - I would think.

Dennis

dwynne

Shoot me an e-mail (addy is in my profile) I have a comment from a dealer about the tier and rate to share with you.

Did you even tell us where you live? Someone may be able to steer you to a dealer that will give you the correct rate w/o the hassles - but you might have to travel a bit to get it .

Dennis

randyjstark

Hey everyone, looking into getting in a g37 or g35 lease this weekend and I had a few questions. I found some pretty good leasing prices as follows, but was wondering how I would factor in multiple security deposits (to lower my monthly lease payment) so that I could help recoup some of the money after the lease is up. I live in PA, so I am not sure if this is possible in my state. Anyways, here are the leasing details - I would most likely do the "maximum allowed" multiple security deposit -- which varies between 7-9 extra security deposits (which is based on your montlhy lease payment rounded up to the next $50) - How would this affect the monthly lease as follows and is there a way to get out of the "doc and destination" fees, which add up to nearly 2000??

2008 G35 Sedan Lease Special
Term $1995 Down $0 Down
24 Month $199 $289
39 Month $249 $309

2008 Infiniti G37 Coupe Lease Special
Term $1995 Down $0 Down
24 Month $229 $309
39 Month $279 $339

I am pretty set on a 24 month lease because I like having a new car every two years. Also, another thing to keep in mind would be that this is based off of 10,000 miles a year, I may decide on upping it to 12000 a year (another 2000 miles per year for two years) for a total of 24000 for the entire lease. How much would this affect my monthly payment.

This deal seems to good to be true, but I want to get put in one of these cars so bad. If multiple security deposits will really help in the cost of the lease payment I would be game! This way I would have some extra cash at the end of my lease!!

What does everyone think? Probably signing the paperwork today or tomorrow. \

Randy

ej1111

Seems too good to be true, what part of the country are you in? what is your total out of pocket?

jebell

It sounds good but there is no way to evaluate the deal without the MSRP and what you are paying for the car. The detination fee should be $715 ( not negotiable ) so the doc fee ( negotiable ) is $1285?? That is outrageous! Do you know the money factor and residual? Adding miles will definitely raise the payment since the residual will be lower.

dwynne

Those could be/probably are base model sedans and coupes. You get this low quote on the "stripper" car then when you see it has no moonroof, no premium pack, no nice stereo, etc you find out that a car that does have the options is a lot more money.

Dennis

randyjstark

Regarding some of the questions asked:

I am from Pennsylvania, but will be working with a dealer in New York City.

I do not know the MSRP for the car, but will find out later when I speak to the salesman again.

Lease prices quoted are with $2000 down and without tax

The price quoted is for the BASE model, with the PREMIUM package (which I will get) adding $30 more per month to the lease.

will making multiple security deposits on the car lower the lease payment significantly?? I heard doing this will make your payment go down, and that you will get all the money back at the end of the lease on the multiple security deposits.

Any other questions? I will be getting 2 VIN numbers to contact my insurance provider to see how much my rates would increase in the G35 vs the G37

Thanks for all your replies.

dwynne

Each extra deposit decreases the MF by 0.0001 so you can plug the numbers into a lease calc and see the results for yourself.

See my post here in the forum about how it works and how much you save. Be sure to read user "zheka212"'s reply to my post - he was told the security deposits would be lost if the car is stolen or totalled - contrary to what everyone else thinks.

Dennis

blov8r

2008 Infiniti G37 Coupe Lease Special
Term $1995 Down $0 Down
24 Month $229 $309
39 Month $279 $339

Randy ... Those numbers are stunningly attractive. I'm going to float them by our local Infiniti dealer from whom I've leased a Q45 and an M35 (lease up this spring). I don't recall ever seeing numbers this seductive! Bart :shades: