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Comments
You would want to stay away, far far away, from an open end lease deal.
Dennis
Joe
$374 over invoice for the coupe, destination, and dealer fee - that is not a bad price for a new coupe in many parts of the country. Sure, some areas report lower prices but not all. If you had a VPP claim code you would be just over $300 over invoice, but would still have to pay the doc fee.
So it really does not sound that bad, unless they left destination off your price as well .
Dennis
I had given my husband the numbers I worked out based on everyone's advice here (thank you) for the 36 mo lease, and he got the 39 mo lease with the same numbers. I'm thinking the 39 mo lease should have been less, so it wasn't as good a deal as he thought.
He told my husband he was giving it to him for $100 over invoice, but I don't believe it.
re: G35 Journey sedan
On of the dealers with whom I am dealing is telling me that for a 39 month, 15K/yr lease, they are offering me .00190 MF with a 58% residual. The other one is saying .00190 with 59% residual for the same 15k/yr miles.
Based on the numbers you posted from leasecompare, it seems that .00167 is the rate that they are suppoesd to quote for the 36 month lease. So since I am doing the 39 month lease, do you think they are marking up the MF? Any ideas why they are saying it is a 58% residual?
Also, I have them down to a few hundred over invoice but they are still wanting a 600-700 dealer "fee". Are people getting deals out there for close to invoice without this extra fee? Just curious.
Thanks!
24 month lease, 15K miles
MSRP 39965
Dealer Invoice 36685
Price Paid 35744
MF 1.23
residual 69%
Out the door = $2200 + DMV
Monthly $400
Lease calculators on line all come out w/ diff numbers. if someone has the right calc, would appreciated running the numbers.
Thoughts? I think I got a great deal.
My deal for same car was for 36 months 10k miles. $395. inc tax. I put $4000 security and approx $1400 for doc, aquisition, lic, and 1st month
As I have posted many times before, I would suggest shopping for a dealer before shopping for a car. If your local dealers want $500 or more for "doc" fees then you probably never get a nice deal there. Go where there is little or no fee and try your luck.
Dennis
To evaluate how good a deal it is, we would need to know what your tax rate is and how the tax is levied on a lease (on top of the payment, up front on the depreciation, up front on the whole car, etc).
You paid $2k PLUS the DMV stuff up front - how does that break down? How much went where?
Your price appears to be way under invoice, but you also paid $2k plus DMV up front and very little of that appears to go towards cap cost reduction.
So give us the rest of the numbers and then we can comment further.
Dennis
We had him redo it for the 36/15K lease with the .00149 and 59% residual. Including the tax, we have now settled on $450/mo for the 36/15K lease. I believe that this is better than 453 for a 39 mo lease, right?
For some reason, the dealer was used to doing 39 mo leases, but the rates came down this mo for the 36.
The upfront money is about 1600 (just inception fees), which is high (but includes 4 yr registration) - all the dealers were around that number though.
Did I do well on this lease?
Not sure I understand you first points on MSRP. I don't have the MSRP in front of me, but that is what I was told. Lease order states, PREM, NAV, SGD,CGO, WOOD. So are you saying the quoted MSRP is lower than actual, but the dealer invoice I stated for the lower MSRP is correct for the actual HIGHER MSRP. Not sure it matters, but just want to clarify.
Here's the detail you need.
Cap. Cost $288.31 (just to get the payment below to a round #)
Sales Tax $904.19
Tire Dep $12.50
Bank Fee $595.00
1st. Month $400.00
Total Down Pymt. $2,200.00 (does not include DMV)
Tax Rate here is 8.625.
Not sure how NY does tax on leases, but it's definitely not on the entire whole car.
Dealer states this is better than they can do for employees.....(not sure I buy that) They are a volume dealer and have tons in stock.
I still think it's a great deal.,, especially for a 2008 / 24 month lease.... Would expect shorter terms to be higher. Right?
Thanks.
The invoice number you state is the current after increase invoice.
So you are using the correct MSRP but a too high invoice, the actual invoice on your pre-price increase car will be less. It is not a great deal, but is around $210.
As I said, even using the correct invoice you have a nice price.
In NY you take the sum of the payments for the lease and apply the tax rate where you live (varies based on city/county) then you have to pay that up front or roll it into the lease.
In any case, I can't get the payment to work out to what you state - so I assume there is some flaw or something in the numbers. The only thing I can figure is that you either have a car built after the price increase or they erroneously used the after increase MSRP in figuring your lease. I can get the payment if I used the 02/08 and later build MSRP.
Dennis
I ended up with the '08 G35 Journey with the Premium and Performance packages. Wow, what a ride. After many months of waiting, researching and test driving, I am in my glory. Thank you to EVERYONE for their participation in this forum. You all rock.
Got it. Pretty sure this car was build before 1/08. What are the exact numbers you are coming up with? Can you send me the lease calculator / URL if possible? Also, why is the 24 month lease less than the 36 or 39 now? Does not make sense to me.
BTW, I had a coupon that was sent to me in the mail, stating negotiate your best deal then present for $250 off any lease or buy. They would not accept it due to this being an internet sale. I'm a reasonable man, so I said fine. Deal was supposed to be the BEST they have given... I could see them sweating a bit.... LOL
Just want to share with others... see if they are getting the same answers.
Thanks.
Congratulations on your purchase. Seems like you got a pretty good deal. I'm in the market for a very similar car in Norther NJ / New York area. Would you mind identifying the dealer who sold you the car?
Second, can anyone please tell me what would it take to get the MF consistent with promotional 1.9% APR (I have excellent credit and expect to be approved as Tier 1)?
I have done all my research and know the exact car I want (G35x, black obsidian, premium, wood) and how to evaluate various offers (vs. the invoice and the price people are paying). I plan on start contacting the local dealers for a price quote today. Does it matter whether I email or call? How detailed should my request for quote be? I would appreciate any help you could provide (this is my first time buying a car).
Thank you.
=((B8-B5) / B11) + ((B8+B5) * B13)
Where B8 is net cap cost, B5 is residual amount, B11 is term in month, and B13 is the money factor.
From time to time IFS will run specials on various terms, I have not checked it but the 24 month lease seems very cheap right now. The shorted the term the sooner you have to come back and get a new Infiniti, I guess they figure. Normally, 36 months (or 39) is the sweet spot in leasing. The largest depreciation hit is in the first two years, which makes the 24 month lease usually quite expensive.
To me, I would not want to pay MORE for a longer lease - so if the 24 is really less then I would take that. To me, when I did do a 24 month lease it seemed way too short.
Make you a spread sheet and run the numbers for the 24, 36, and 39 based on your price and see what the net payment would be.
Dennis
2008 Infiniti G35
Journey 4dr Sedan
Optional Equipment
P01 Premium Package
U01 Infiniti Navigation Package
S01 Sport Package
F01 Technology Package
N93 Trunk Cargo Net
Total MSRP with Options $40,475
My FICO score is in excess of 750.
Want 2 lease quotes 24-36 Month lease with tax
15K miles per year
$2000 down payment
Anyone have a good experience in Orange County? Best Competitive Dealership
Dennis
It sounds high based on the 39 month term, 10k miles per year, and $3,200 out of pocket - but we need to know the other numbers to be sure.
If your Lexus is an open ended lease, you probably have not heard the last of it - unless the dealer purchased your ES as a trade.
Lexus makes a nice car, but I bet the G blows it away - and THAT is why you ended up driving the car home rather than taking more time to shop .
Dennis
2008 G35 Journey with; 32,300
Premium Package 2,500
Sport Package 1,650
Navigation Package 2,150
Splash Guards 150
Cargo Net 60
MSRP of $38,810 plus 715 Dest & Handling = $39,525.00, but what would the dealer pay for the car?
J
Dennis
Anyone in Southern California getting deals at Invoice??
Cap. cost reduction $604.94
first monthly payment $419
title fee 0.00
registration fees $68.7
tax on cap cost reduction $50.66
sales tax $1368.56
doc fee 57.50
aqu. fee $595
acq. fee tax $49.83
total $3214.24 to be paid.
The reason i thought i got a good deal is the Dealer started at $469 and went down to $419. my friend went to another dealership and is paying alot more for her lease. She is paying around $464 0r $474 36/12,000 (i think) for a 2007 G35x with premium/navi/wood package.She put down $4000 out of pocket.She got the car in Nov. 2007. This car is awesome!!!
Goodluck
What is the residual on the lease?
You say the MSRP was $37,810, but that can't be correct - an x with premium/nav/sport/splash/net has an MSRP of $40,825 and an invoice of $37,245 (after the Feb price increase prices). Before the price increase those numbers would be around $200 lower. MSRP is the suggested retail price - what is marked on the window sticker. Invoice is dealer's cost - not including hold back or dealer incentives.
So I think you paid just over invoice plus the $57.50 doc fee - the "agreed value of the car" you say was $37,180.62. So that sounds like a good deal, but in the future you should always deal the price down on the car first - then put that number into a lease calc and see where the payment ends up.
Dennis
2008 G35 Journey, Platinum Graphite, Graphite Leather, Premium Package, Navigation Package, Cargo Net, Splash Guards, Rear spoiler, dealer-installed wheel locks.
MSRP $37,625 + $550 for the spoiler = $38,175
Residual = 70% or $26,337.50 (they didn't residualize the spoiler it appears)
Money factor = .00144
Agreed on price = $35,500 (Edmunds lists invoice as $35,066)
Total cost with all fees (dealer,bank and dmv) = $36,568
24 month lease with only first month's payment due at signing
payment is $516.85 + NC tax of $15.51 = $532.36 total payment
The next closest Infiniti dealer to my home is over an hour away and I really didn't want to drive just to save a few hundred (I value my time more than that). I probably could have gotten them down to invoice if I had wanted to walk out and let them think about it but I got them down a fair amount and I'm happy with the deal. It required very little negotiation after I told them I had numbers from Edmunds. They did come back with an inflated money factor at first (.00169) and I had to correct them.
I checked my numbers on leaseguide.com's lease calculator and it came out to within .04 cents per month.
I dealt with Drew who is a very personable salesman and I think he did a great job explaining the features of the car and being very low pressure. I actually drove the car on two different occasions prior to the purchase. I will say they didn't really seem to want to quote anything over the internet, so I had to go in and sit down to get them to run the numbers for me.
The car is great so far, and gets tons of compliments. I know I could have done a little better if I had haggled more but I like the car and the deal is pretty decent. By the way, I don't know how accurate Edmunds TMV is but with the options it comes out to $36,921 the way my car is configured. Thanks to everyone for the helpful information!
2008 Infiniti G35
Journey 4dr Sedan
Optional Equipment
P01 Premium Package
U01 Infiniti Navigation Package
S01 Sport Package
F01 Technology Package
N93 Trunk Cargo Net
Total MSRP with Options $40,225
My FICO score is in excess of 750.
Want 2 lease quotes 24-36 Month lease with tax
15K miles per year
$2000 down payment
Anyone have a good experience in Orange County? Best Competitive Dealership
I originally wanted a G37 but after looking at the G35 lease deals I think I'm better off going with a G35X. Not to mention that a sedan has a lower insurance premium and the awd will come in handy in the snow.
Here's what I'm looking for.
2008 G35x
*Sport package.
The MSRP for the car is $36,165....invoice is $33,250
My FICO is score is around 790.
I looking for both 24/36months lease for 12k a year.
3000k out of pocket.
I'm looking for payment in the neighborhood of $350-$380
Do you guys think that this is possible? I'm dealing with Ray Catena Infiniti Edison. We haven't spoken numbers yet. But their other dealer in Bridgewater has a lease offer for a a G35x $349 a month for 24 months 12k miles a year. With $2699 due at signing. No security deposit. Closed end lease. The MSRP listed for the vehicle is $36,025.
Thank you for your time and help.
The 12k mile per year lease rates for the 2008 Infiniti G35X Sedan are below:
24 Month – Residual 71% of MSRP – .00123 Base Rate
36 Month – Residual 61% of MSRP – .00149 Base Rate
Assuming a $36,165 MSRP and $33,750 Selling Price ($500 over Invoice).
24 Month – $409.47 with NJ Tax ($688) and Inception Fees Due at Signing
36 Month – $407.85 with NJ Tax ($1,028) and Inception Fees Due at Signing
If you need any more help, please feel free to email me at my username @gmail.com.
(CAP COST – Residual Value) / Term = Depreciation
(CAP COST + Residual Value) X Money Factor = Interest
Depreciation + Interest = Base Monthly Payment
Is the CAP COST referring to the NET Cap Cost (the MSRP) or the Cap Cost (the agreed upon price of the car)?
Say the NET Cap Cost = 39,183 and the Cap Cost = 36,135. Which one should I use?
One of the dealers gave me a print out of the quote and I'm trying to decipher how they did it.
Thanks.
Say the MSRP is $42k and you have an agreed price of $38,000. But you want to roll the $595 bank fee and $100 worth of local tax or something into the lease. Then your net cap would be $38,695. On the other hand, if you (for some reason) were going to pay all the fees and taxes up front and want to pay a "cap cost reduction" of $1,000 then your net cap would be $37,000. If you owed $2k more on your current car than you were allowed on trade, then your net cap cost could be $40,000 or more with that added onto the agreed price of the car.
The lease payment is based on the net cap and the residual and the net cap is the agreed value of the car plus or minus things like bank fees, taxes, dealer fees, title, tags, and any money you put down - or negative equity from your current car.
Dennis
Premium pak.
sport pak.
Nav. pack
According to edmunds.com MSRP is $40,615 and Invoice is $37,085.
What should be my monthly payment if i was able to get the car at invoice and taxes paid upfront?
Thanks for your help!!!
If you just have to have wood, I am sure all the wood bits are available as parts from Infiniti and you would have to pay the labor to remove the aluminum and install the wood.
I don't get the need for a "sports pack" on an automatic car. If you want "sports", get the 6mt .
Dennis
I want the seats, the suspension, the paddle shifters and the body effects, but NOT the metal dash and honestly would prefer 4 tires the same size so I could rotate them. If I'm forced to decide (which I am), I'll take the Sports Package, but I still wish I could get the wood interior.
The only practical way to get what you want (Infiniti wood) would be to buy the sport pack and then add the wood. If you could find a totalled G with wood (and ignored the bad Karma) then you could get the wood bits for fairly cheap. I think I saw here or in some online forum that a dealer swapped the wood and aluminum bits between two cars for someone that just had to have it - but the cost of doing that was buried in their deal. But that would be the cheapest way - since you would pay for the wood option on the car that was "robbed" and the labor and some materials (new glue mounting tape?) to swap the two. Then they would have a car with a sticker that showed the wood option with no wood, that they would sell for a reduce price. If you make that a condition of the sale and your dealer has a donor car on the lot the price tag might not be too high.
The cheapest way (by far) to get wood trim or wood LOOK trims to buy an aftermarket trim kit and install it yourself or have it installed. Examples from two companies shown below, some are available with real wood for a bit more and even often wood that matches the OEM style.
Dennis
Why can't I get the wood trim with the sport package? I know you can't answer that, but I'm curious. I just have a preference for the rosewood rather than the metal and wish it was an available option.
Doesn anyone know if it might be a dealer installed option?
Seriously, I think Infiniti perceives the aluminum as "sporty" and the wood as "classy" or perhaps "stodgy" so does not allow the two options to be ordered on the same car.
Dennis
Here are the new numbers for the 24/12K lease.
39475 MSRP
36790.38 CAP COST
529.41 per month tax 6.5% included
875.66 CASH DUE for Bank fee and tags
Is this a decent deal
Thanks
It appears that the net cap includes cap cost of 36790 + 784 Tax (6.5%) + bank fee of $595 = $ 38169
Would this account for the difference.
What is the difference in the models before price increase and after price increase of $ 180.
Thanks
Puvi
A 24/24k lease should be 70% residual and 0.00123 MF.
If I plug in the cap cost you show ($36,790.38) the residual ($27,632.50) and the term and money factory into the lease calc I get $460.82 per month. GA taxes on the payment, so with 6.5% tax included I get a payment of $490.77 - a lot less than your $529.41 payment.
You say you are paying bank fee and tags at signing, what about the first payment?
If you are doing a "sign and drive" 23 payment lease (but still paying the bank fee and tags up front) then I would think the payment would $534.08 per month.
So I am not sure I have enough info to tell you what is going on - if you are paying the first payment up front then your payments are way too high, if not then I guess it is OK.
FYI, if you did a normal 36 month lease based on your cap number and tax the payment would be $483.67 rather than the $490.77 I calculated for the 24 month lease. So in this case, the longer term really does not save much. I think you will love your new G so much that 24 months will fly by and you may wish you had a longer lease .
Dennis