Hi, I'm new here. Hello Mr Car_Mar. It's nice to meet you. I was wondering: Do you have the current lease money factor rate and residual percentage for IFS? I am trying to work out a lease on a 2008 G Sedan with Premium, Sport, and Navi pkgs and I think I'm getting hosed.
Also, the salesman just told me today that Infiniti only marks up their vehicles anywhere from 6% to 9%, whereas their competitors (i.e. Acura) mark up anywhere from 15-20%. Is that true or is he BS'ing me?
Sounds like you need to do a more thorough job of defining what "loaded" actually means. Loaded is often a dealer term for "base model". Simply stated, a $36,000 MSRP on a G35x seems very very low.
To me the word loaded on a G35x might mean Premium, Sport Package AWD and Rear Spoiler. That would put the MSRP at $40,415. Adding the premium package alone to the base G35x puts the MSRP north of $37,000. There are not that many configuration packages for the G, so you should consider going to the Infiti web site to understand what each package entails and what options you are seeking.
You can use what you learn on the infiniti site to better understand exactly how the vehicle the dealer is pitching is configured. Step two would be to configure the vehicle the same way using the www.edmunds.com site to determine the invoice price. Add somewhere between $500 - $750 to that and you should have a reasonable figure for your G. I think you may want to spend a little time getting familiar with the other variables on the leasing equation, specifically money factor and documentation fees (which you should never pay), before you put pen to paper.
There is enough information in these posts to make you an educated consumer, it's up to you to spend the time reading them.
We've read the boards and tried to do our homework. Can someone please let us know if this is a good lease deal for G35x (AWD) w/Prem and wood trim pkge ($450.):
Doing the quick math the numbers don't seem to make sense. 1) The sales price for the vehicle sounds good at 34945 but it appears that the dealer is not backing off the fees you are paying up front (acquisition fee and documentation fee) from the capitalized cost of the lease (aka what your payments are being based on).
2) Seems very odd to pay the taxes up front. Also, seeing as they are only about $24 a month I'm not sure how we are landing at $2K in total for taxes.
3) I'd look closely at my paperwork and run the numbers into a lease calculator so you can see for yourself what's happening.
I'm looking at an '08 G35 Sport w/ Premium, MSRP of 37935, the dealer quoted me 35630 to buy. That's prob too high considering the conquest cash, but I wanted a place to start. I didn't tell him if I wanted to lease or not. Then he gives me the lease payments and they are $519 - $529 if I pay the $1800 TTL & first payment, or $60/month or so higher if I roll it in.
But I used the lease formula I found on this forum, plugged in MSRP and 35630 as cap cost, 63% residual, .00192 MF, 39 months, and I get a $415 payment. I have 2 payments left on my current G35, which he said the dealer would write me a check for that amt ($814). So clearly they are tacking that onto the price, but even when I add that in (cap cost now 36444), I still only come up with $437 payment.
Am I doing something wrong with the lease calculator? How can there be nearly $100/month discrepancy? I didn't ask him for the lease specifics yet (he just gave me the numbers over the phone) but I was shocked at the difference and wanted to make sure I hadn't miscalculated somewhere. Anyone have ideas? Credit score is 755 last time I checked.
You are calculating your payment correctly, but I think you might have bad numbers. 63% residual on a 39 month lease seems too high. New number should start coming out this week for July. Because of the holiday most June numbers were rolled over until today.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Paying the taxes up front is normal especially if you live in a state where they tax the entire selling price of the car as opposed to just the monthly payment, so the ~2k in taxes is correct. Usually people will roll this entire amount into the lease, but one can certainly pay it up front to lower the monthly payment.
Thank you. I checked on the actual numbers. 15K, 39 mo lease on the G35 Journey they say the MF is .00223 and the residual is .57. That doesn't seem right.
Can a dealer lock in the extended June (until 7/7) lease rates when I will not take delivery until 7/8.
The longer version:
I went into a dealer on 6/30 and negotiated what I consider to be a good deal. I figured it was the last day of the month & fiscal year and the dealer had the car I wanted on his lot. The dealer wanted me to pay about $350 more on the deal than I wanted, (which was due to having one more payment on my current '05 G35). I also found out that my first choice color combo of the car was already sold. I was willing to accept my second choice color combo (same equipment), that the dealer also had. The dealer agreed to terms with me, but he wanted $350 more than I wanted to pay, so I left the dealership. About a couple hours later, after talking to some co-workers, I changed my mind and called the dealer back and agreed to their numbers. Bear in mind this was still a very good deal, still below invoice. The salesman said great and he would call me back. When he called me back he said the second choice car was already sold. I was slightly miffed, and the salesman tried to get me in another car, same color combo, but with wood trim, which I did not like and it was more $. He also offered another car with the same equipment and my second choice exterior color, but a different interior color. Anyway, I was a little annoyed and said no thanks. On tuesday, 7/1, I learned from Dennis that the June rates had been extended. I called the salesman and he also agreed that the program was extended, lease cash and all, for another week. I then said, can you get me my first choice color combo car before the extended rates expired. He said he would see about availability at other dealerships and get back to me. On 7/2 we talked and he said he could get one exactly as I wanted from another dealership and they would still do the deal (even though no longer the last day of the month- I guess June sales figures big decrease for Infiniti had them wanting to move vehicles). I filled out the Infiniti credit app and faxed it back to him. I had already been preapproved due to my current IFS lease coming to an end, but they ran the credit to make everything kosher.
He then advised that they had to send someone to a dealership to get the car, it would be available 7/3 or at the latest 7/7. (dealership closed for 7/4 holiday). No word from salesman. Today, 7/7 still no word. I went in and he said they would be getting the car tomorrow 7/8. I did not mind waiting, but I was concerned about the rates. Salesman told me that when they ran my credit app, that locked in my rates at the extended june early july rates. Obviously if the program is better for July 8, I may be a bit miffed, but I did get a good deal (not as good as the one I read on these boards yesterday for the same car, but better than most of what I have been reading).
Can this be done? Can the rates be locked? Or will they just date the transaction 7/7? I am sure they have the VIN from the other dealership. Any thoughts. I will share my deal later, I do not want to jinx it.
I took delivery today and all went smooth as ice with all paperwork being dated today, 7/8. So, I guess you can lock rates in. I was also told that the july rates would cost me about $30/month more for a lease due to no more lease cash and lower residual and higher money factor.
I will post details of my deal in the "Prices Paid/Buying Experience Forum."
Here are the numbers my dealer gave me for a G35 AWD Lease. I told him I would have the top tier credit, and according to them (you guys tell me) they dont mark up the money factor
Money Factor 24mo .00197 36mo .00217 39mo .00234
Residual (15k/yr) 24mo 68% 36mo 58% 39mo 57%
For 12k and 10k/yr add 1 and 2% respectively to those numbers.
Those numbers certainly are not as good as june, and with the loss of the 350 conquest cash, the leases are not as attractive (dangit!) :mad:
I recently graduated from school within the last year, does anyone know the details to the "signature graduate" program? i'd like to find out the details without applying online.
Hey, Just wondering what would be a good sale price on an 08 G35X sedan right now? I know on my G37 coupe a good negotiated rate was 500$ above invoice including destination fee's and dealer fee's. Should that be a good rule of thumb for the 08 sedan as well? Or are people on the boards getting below invoice now since the 09's are set to release soon and they will be moving to the G37 Sedan? Does it make sense to lease now or would I be able to negotiate a better deal in August/September when they are trying to clear inventory?
These boards were a big help for my coupe a couple months back and im just trying to get the same advice for my GF's car.
G35 Journey Sedan Auto prem, navi, sport MSRP: 39,765 Invoice: 36,271
lease: 36 month 12k miles a year 463 per month before tax //// 502 per month after tax ( California tax) 36 Month – Residual 58% of MSRP – .00134 Base Rate all the doc fees are included into the 1500 down ( includes first month, payment) basically 1500 out of pocket up front local sales tax: 8.250 %
I'm reposting with better numbs. Dealer will keep 350. cash incentive in place. I want to buy this car! Can someone pls let us know if this is good or, what we're missing? Thanks so much!
lease deal for G35x (AWD) w/Prem and wood trim pkge ($450.):
Ouch. This sure isn't the month to lease a new G. I have two more lease payments on my sedan. I sure hope the August or September numbers are better or I'm going to have to go for the Accord.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Yeah, I'm just glad I didn't wait. I was debating to wait til August (when my previous lease matures) and then pull the trigger. I'm just glad I did it in May at this point because this doesn't look so good. Not sure Aug will be any better since the residual will more than likely take another hit. Hopefully the MF drops significantly next month.
Yes, that is a good alternative. Assuming best case scenario (on a 36mo lease for a RWD model), $1500-$2000 under invoice (which should be attainable with the dealer cash and loyalty cash), inception fees of $1400-$1500, your payments could be under $400 after tax. That is a pretty good reason to check out the EX if you ask me. That's what I would have done had I not gotten my G37 in May.
thx for ur help b4, but what do u think of this? G35 Journey Sedan Auto prem, navi, sport MSRP: 39,765 Invoice: 36,271
lease: 36 month 12k miles a year 463 per month before tax //// 502 per month after tax ( California tax) 36 Month – Residual 58% of MSRP – .00134 Base Rate all the doc fees are included into the 1500 down ( includes first month, payment) basically 1500 out of pocket up front local sales tax: 8.250 % he priced me at invoice, waived the security deposit
what do you guys think?
or should i wait for the g37 sedan, but i wont be able to get that car unless i pay msrp for it. is it worth it?
If you are not rolling any fees into the lease I get $446/$481 a month.
One other thing, that little favor he did for you by waiving the security deposit, Infiniti finance does not have a security deposit on leases.
I doubt they will be getting sticker for the new sedan when it comes out, the economy isn't going to turn around that quick, but you won't get if for invoice either. Of course the residuals should be better on the 09.
I am going to take a serious look at the EX35 because of the free financing and possible way below invoice pricing. My 5 dogs would like it a lot better then another sedan. I have to return my 05 sedan by 10/25, but I only have two payments of $400 left. I also have tag renewal by the end of this month of $350. This is such a buyers market in cars right now its almost worth it to eat the $800 (- $350) in payments.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
I checked yesterday and one dealer did confirm $2k cash back on purchase. Don't recall anything on leases other than to say comparable leases in July vs. June is averaging between $20 to $30 more per month on a 36 month lease - due to lower residual, higher MF...
I'm looking to lease a G35 Journey here in the Los Angeles Area.
Here's what's been offered.
G35 Journey with Premium, Sport and Nav. MSRP of $39930 Selling Price of $36,393 (Invoice) MF of .00103 Residual at 67% 24month lease 2K drive off (includes 1st month, registration ($300) and acq fee ($595) Monthly payment of $470 plus tax (so total is approx $509).
I know the 2K drive off is $600 off if its just 1st month, registration and acq. fee.
Has anyone been getting deals under the invoice price.
So in general, it looks like June was the best out of the year so far. Obviously no can tell what the future will bring, but based on recent years are the months for August and September generally better than July or up to par with June? My lease is up mid-September and not sure if I should start negotiating come August or wait until closer to my lease end date in September.
Also, by September, I'm assuming the new 2009 models will be out so would it not be cheaper to lease a 2009 model with a guaranteed higher residual?
It is possible that leasing an 09 could end up being cheaper come September due to the higher residual, but there is no way to tell what the MF will be. I think this year is hard to predict because of how the auto industry is doing. It's worth a risk if you think you can live with the fact that the rates may not be better in a few months. The July numbers aren't as good as June, but they aren't astronomically outrageous. You're probably looking at maybe another $20 or so more per month.
I personally pulled the trigger in May (even though my previous lease was through August) because I was afraid the rates would go up, not to mention getting nailed with a turn-in fee, wear and tear and exterior damage on my previous car. I took a chance, and it looks like I made the right call on that one.
Was you previous car an Infiniti? I am wondering how the turn in process will go on my G. Its in real good shape except for 3 tiny dings, and it is way below mileage. One of the reasons I was thinking about leasing another G was hoping they would not nitpick it I was getting another Infiniti.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Leasing another car should have nothing to do with your turn in - that is normally not handled (inspected) by dealership personnel. If your current G is low miles as you say, you might talk the dealer into buying off the lease (now or at the end) if it is worth it. If they buy it, then no inspection worries at all. If you just turn it in, then depending on what is allowed and forgiven on your lease you may have to pay.
I'm posting final numbers below for a deal we think is about $150.-$350. over what we should be paying. I've posted these numbers beofre but these seem to be somewhat final. can u tell me what you think of these numbers?
** Also, dealer wants 1K credit card deposit to find the car. Swears he can get it. We want wheat interior with wood trim package. I also want low (10) miles to make sure it hasn't been test driven.
Is it customary for the dealer to take a deposit? If so, can I request in writing, that he'll find the car I'm looking for or I get my money back? Do you know how this works? I'm afraid of getting into a situation where he comes back and says he couldn't find the exact car and then I'm stuck. We're open to the outside color.
Txs for any insights!
----- lease deal for G35x (AWD) w/Prem and wood trim pkge ($450.):
That is normal and is normally a 100% refundable - except - if the dealer has to haul your car in and then you don't take it. Then they would keep the hauling expenses and refund the rest.
I don't know if they can do anything about the miles on the car, every dealer does PDI on it when they get it off the truck and that can add 5-10 miles to them. If they haul one in from another dealer then YOUR dealer will do another PDI on it to make sure it is "right" before selling/leasing it to you - so another 5-10 miles on it.
I have put deposits to hold cars many times and never had a problem, but I try to deal with dealers I trust .
Leasing another car should have nothing to do with your turn in Not true since Infiniti has sent me a $500 coupon for wear and tear on my current car if I lease another Infiniti.
My car is over $2000 upside down so no one is going to jump at buying it.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Actually it wasn't. It was a Mazda3 leased through a 3rd party bank. A very bad lease if I do say so myself. Which is rather shameful, but that was 4 years ago, I lived and I learned...expensive lesson for sure. I didn't turn that one in though, I simply traded it in. The car was in bad shame, damages here and there, loads of scratches. If you read the back of the contract, you may find information regarding the condition of your turn-in. In my case, any scratches over 2" long would count against me. Any broken, deep scrapes, dents, worn out tires, etc...Since I had all of the above, and then some, I opted to "sell" it to the dealer. I was about 3000 miles under my monthly allowance, so it helped lessen the financial hit. My buyout was about $7200 and the dealer offered $6000. Had the car not been in an accident previously, the dealer's offer would have been $8000. Which would have given me some equity on a lease. I think that was what Dennis was referring to when he said to trade it in if there are some "exterior damages" you are concerned with. For me, returning the car could have cost me $375 disposition plus any damages, which I know would have easily exceeded $1000. So in my situation, trading it in was the better option.
IFS sent you the coupon or some Infiniti dealer sent you the coupon?
Big difference, since any dealer can make such an offer and just make sure to over charge you enough on the new deal to make up the difference. Or they just shrug when IFS bills you for the issues after you have already signed the new deal.
If it is from IFS, then I would assume it is legit. It could also be they always do this without a "coupon" or this could just be a "we are desperate" one time deal - I don't know. Coupled with the turn in "fee" this would be a good way to keep folks in the IFS fold since turning in a less than perfect car and NOT leasing a new one from IFS could cost you $850 more.
Always get a pre lease turn in inspection done so you get an itemized report (with prices) of what they might hit you with at lease end. Then you can decide if you want to fix items yourself or seek "forgiveness" or just pay them to fix it.
AHFC (Honda) is head and shoulders over these other lease banks, by the way. They offer $500 per item forgiveness and up to $1,500 per vehicle forgiveness and no turn in fees. It does not matter if you lease another Honda or not, but with that kind of attitude it is hard NOT to get another Honda .
Keep in mind that every time they lease a car they have to sell it twice - once to you and once when you turn it in .
They had really cheap lease deals on 08 Honda Pilots, for example, then pulled them in favor or finance / cash only deals once the 09 Pilot was set to launch. They have had cheap S2000 lease deals too, but pulled them for July (and they may not return, but who knows).
Any time sales are slow enough any captive bank can pull out a cheap lease deal to move cars, but they get 99% of them back at the end of the term. So at some point in the model year they may try to convince the customer it is much better to buy the car than to lease it. Generally when the new model cars arrive there are no deals - partly because of the left over prior year cars and partly because of all those "got to be the first one with the new model" folks that come in a buy. Once those folks have theirs and the prior model cars are off the lots, then they can start dealing on the new year cars.
For a 3rd party bank lease, the residual is highest at the start of the new model year and drops through out that year. The MF is tied to the lessee's credit rating and the cost of money. So if the MF was constant as was your price, then September is probably the cheapest time for a 3rd party lease. Captive lease banks don't follow any such logic - they set residuals artificially high and rates way low when they want to move cars - and can do it whenever it suits them. There were left over Infiniti Ms going for 0.00001 or something MF a couple of years ago.
For the heck of it I pulled up some numbers from the last year that I found at leasecompare.com. I'll have to use a G35X comparison since that's the only number I found for September of 07. It does look like August and September are bad times to lease. Which does not bode well for me having to get a new car by October 23rd.
It sure goes against logic that the residual on the 08 is lower in November then it is in March and April.
August 2007 2007 Infiniti G35 X Sedan 24 Month – Residual 67% of MSRP – .00169 Base Rate 36 Month – Residual 57% of MSRP – .00207 Base Rate
September 2007 2007 Infiniti G35 X Sedan 24 Month – Residual 66% of MSRP – .00146 Base Rate 36 Month – Residual 56% of MSRP – .00191 Base Rate
November 2007 2008 Infiniti G35 X Sedan 24 Month – Residual 69% of MSRP – .00241 Base Rate 36 Month – Residual 59% of MSRP – .00245 Base Rate
March 2008 2008 Infiniti G35 X Sedan 24 Month – Residual 70% of MSRP – .00142 Base Rate 36 Month – Residual 60% of MSRP – .00160 Base Rate
April 2008 2008 Infiniti G35 X Sedan 24 Month – Residual 70% of MSRP – .00142 Base Rate 36 Month – Residual 60% of MSRP – .00160 Base Rate
July 2008 2008 Infiniti G35 X Sedan 24 Month – Residual 68% of MSRP – .00147 Base Rate 36 Month – Residual 58% of MSRP – .00167 Base Rate
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Here is my payment chart that runs from June 07 to April 08. click here
I have been real busy the last few months so it has not been update to reflect the latest rates, higher prices, and customer cash. Each of the cars is "purchased" at $500 over invoice and everything else paid at signing and no taxes. Each is the model shown plus premium pack.
I just saw your excel sheet and that was very interesting to see, thanks for that. I must say it is disappointing to see/read that Sept was one of the worst. I guess I will have to start negotiating now through August at the latest.
Also, because there has been no information on the release of the 09 coupes, I surely do not want to wait for that to be announced. By that time, my lease might already be up.
Now I'm getting nervous about turning in my non-infiniti car at the end of the lease for scratches/minor dents/tire wear. Assuming this is the way to go, I will see if I can get an Infiniti dealer to buy this car or at least make the rest of the payments (which is only 1-2 more left) so that I can avoid having any excessive charges.
I am looking at a g35x, 24mo lease with 25K miles/yr. Options include nav, premium, tech or sport pkg, $2500 out of pocket, for $590/mo. MSRP $41280, SP $ 38,650, residual $26896. Good deal or Bad Deal? NJ Dealer. Thx for help!
cool chart dennis. would you say that in your opinion (using the g35 journey w/prem, for example), the trend in monthly payments probably trended back up to the 460-470ish range since april? not looking for an exact amount or anything, just curious if you think it has basically trended back up to where it was back in the beginning of the chart. very interesting!
given the state of the economy + gas prices, and the timing of the new models coming out soon, one would think they would be offering better incentives to push through more volume. i don't get it. i want the car but i have to be realistic-- if the leasing terms aren't that attractive, i have to take a hard look at the alternatives.
They are offering big PURCHASE incentives now - low (or zero) rates and cash to the dealer / customer for buying a G. I guess they figure they have enough leased Gs coming back in 24/36/39 months and want to move cars for purchase and not as much for lease.
It all depends - if folks do not buy even with the rates and incentives and don't lease based on the current rate, then they will either stockpile cars or have to offer better lease deals. If they can keep the days supply down without giveaway lease rates then I would guess they will be happy.
Comments
Also, the salesman just told me today that Infiniti only marks up their vehicles anywhere from 6% to 9%, whereas their competitors (i.e. Acura) mark up anywhere from 15-20%. Is that true or is he BS'ing me?
Any help would be greatly appreciated. Thanks!
08 6MT with premium, nav, ill kickplate, cago net, trunk mat and splash guards for
39443 in So California.
If ths is good price, what can I expect 2 yr lease to be this weekend?
Sounds like you need to do a more thorough job of defining what "loaded" actually means. Loaded is often a dealer term for "base model". Simply stated, a $36,000 MSRP on a G35x seems very very low.
To me the word loaded on a G35x might mean Premium, Sport Package AWD and Rear Spoiler. That would put the MSRP at $40,415. Adding the premium package alone to the base G35x puts the MSRP north of $37,000. There are not that many configuration packages for the G, so you should consider going to the Infiti web site to understand what each package entails and what options you are seeking.
You can use what you learn on the infiniti site to better understand exactly how the vehicle the dealer is pitching is configured. Step two would be to configure the vehicle the same way using the www.edmunds.com site to determine the invoice price. Add somewhere between $500 - $750 to that and you should have a reasonable figure for your G. I think you may want to spend a little time getting familiar with the other variables on the leasing equation, specifically money factor and documentation fees (which you should never pay), before you put pen to paper.
There is enough information in these posts to make you an educated consumer, it's up to you to spend the time reading them.
Good luck.
We've read the boards and tried to do our homework. Can someone please let us know if this is a good lease deal for G35x (AWD) w/Prem and wood trim pkge ($450.):
MSRP 37,775 (incl cargo net, splash guards)
Invoice $34,604
Sale $34,945 (incl $595. Aquisiton fee, $715. Destination fee, $99. Doc fee, $350. Customer loyalty)
MF .00150 (36 months), .00131 (24 months)
Residual 60%- 36 months, 70% 24 months
Cash upfront needed:
Fees: license: $154., title: $50.
Taxes: $2067. (6%)
Acquisition: $595.
Doc.: $99.
------------
$3024. (his number- this is off)
+ $460.21 (1st pymt)
-------------
$3484.21
Doing the quick math the numbers don't seem to make sense.
1) The sales price for the vehicle sounds good at 34945 but it appears that the dealer is not backing off the fees you are paying up front (acquisition fee and documentation fee) from the capitalized cost of the lease (aka what your payments are being based on).
2) Seems very odd to pay the taxes up front. Also, seeing as they are only about $24 a month I'm not sure how we are landing at $2K in total for taxes.
3) I'd look closely at my paperwork and run the numbers into a lease calculator so you can see for yourself what's happening.
Good luck and let us know what you learn.
But I used the lease formula I found on this forum, plugged in MSRP and 35630 as cap cost, 63% residual, .00192 MF, 39 months, and I get a $415 payment. I have 2 payments left on my current G35, which he said the dealer would write me a check for that amt ($814). So clearly they are tacking that onto the price, but even when I add that in (cap cost now 36444), I still only come up with $437 payment.
Am I doing something wrong with the lease calculator? How can there be nearly $100/month discrepancy? I didn't ask him for the lease specifics yet (he just gave me the numbers over the phone) but I was shocked at the difference and wanted to make sure I hadn't miscalculated somewhere. Anyone have ideas? Credit score is 755 last time I checked.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Can a dealer lock in the extended June (until 7/7) lease rates when I will not take delivery until 7/8.
The longer version:
I went into a dealer on 6/30 and negotiated what I consider to be a good deal. I figured it was the last day of the month & fiscal year and the dealer had the car I wanted on his lot. The dealer wanted me to pay about $350 more on the deal than I wanted, (which was due to having one more payment on my current '05 G35). I also found out that my first choice color combo of the car was already sold. I was willing to accept my second choice color combo (same equipment), that the dealer also had. The dealer agreed to terms with me, but he wanted $350 more than I wanted to pay, so I left the dealership. About a couple hours later, after talking to some co-workers, I changed my mind and called the dealer back and agreed to their numbers. Bear in mind this was still a very good deal, still below invoice. The salesman said great and he would call me back. When he called me back he said the second choice car was already sold. I was slightly miffed, and the salesman tried to get me in another car, same color combo, but with wood trim, which I did not like and it was more $. He also offered another car with the same equipment and my second choice exterior color, but a different interior color. Anyway, I was a little annoyed and said no thanks. On tuesday, 7/1, I learned from Dennis that the June rates had been extended. I called the salesman and he also agreed that the program was extended, lease cash and all, for another week. I then said, can you get me my first choice color combo car before the extended rates expired. He said he would see about availability at other dealerships and get back to me. On 7/2 we talked and he said he could get one exactly as I wanted from another dealership and they would still do the deal (even though no longer the last day of the month- I guess June sales figures big decrease for Infiniti had them wanting to move vehicles). I filled out the Infiniti credit app and faxed it back to him. I had already been preapproved due to my current IFS lease coming to an end, but they ran the credit to make everything kosher.
He then advised that they had to send someone to a dealership to get the car, it would be available 7/3 or at the latest 7/7. (dealership closed for 7/4 holiday). No word from salesman. Today, 7/7 still no word. I went in and he said they would be getting the car tomorrow 7/8. I did not mind waiting, but I was concerned about the rates. Salesman told me that when they ran my credit app, that locked in my rates at the extended june early july rates. Obviously if the program is better for July 8, I may be a bit miffed, but I did get a good deal (not as good as the one I read on these boards yesterday for the same car, but better than most of what I have been reading).
Can this be done? Can the rates be locked? Or will they just date the transaction 7/7? I am sure they have the VIN from the other dealership. Any thoughts. I will share my deal later, I do not want to jinx it.
thanks
gperr
I took delivery today and all went smooth as ice with all paperwork being dated today, 7/8. So, I guess you can lock rates in. I was also told that the july rates would cost me about $30/month more for a lease due to no more lease cash and lower residual and higher money factor.
I will post details of my deal in the "Prices Paid/Buying Experience Forum."
gperr
I told him I would have the top tier credit, and according to them (you guys tell me) they dont mark up the money factor
Money Factor
24mo .00197
36mo .00217
39mo .00234
Residual (15k/yr)
24mo 68%
36mo 58%
39mo 57%
For 12k and 10k/yr add 1 and 2% respectively to those numbers.
Those numbers certainly are not as good as june, and with the loss of the 350 conquest cash, the leases are not as attractive (dangit!) :mad:
thx in advance!
Just wondering what would be a good sale price on an 08 G35X sedan right now? I know on my G37 coupe a good negotiated rate was 500$ above invoice including destination fee's and dealer fee's. Should that be a good rule of thumb for the 08 sedan as well? Or are people on the boards getting below invoice now since the 09's are set to release soon and they will be moving to the G37 Sedan? Does it make sense to lease now or would I be able to negotiate a better deal in August/September when they are trying to clear inventory?
These boards were a big help for my coupe a couple months back and im just trying to get the same advice for my GF's car.
Thanks!
MSRP: 39,765
Invoice: 36,271
lease:
36 month
12k miles a year
463 per month before tax //// 502 per month after tax ( California tax)
36 Month – Residual 58% of MSRP – .00134 Base Rate
all the doc fees are included into the 1500 down ( includes first month, payment)
basically 1500 out of pocket up front
local sales tax: 8.250 %
I'm reposting with better numbs. Dealer will keep 350. cash incentive in place. I want to buy this car! Can someone pls let us know if this is good or, what we're missing? Thanks so much!
lease deal for G35x (AWD) w/Prem and wood trim pkge ($450.):
MSRP 37,775 (incl cargo net, splash guards)
Invoice $34,604
Sale $35,244 (incl $595. Aquisiton fee, $715. Destination fee, $99. Doc fee, $350. Customer loyalty)
MF .00150 (36 months)
Residual 60%- 36 months
Cash upfront needed:
Fees: license: $154., title: $50.
Taxes: $2067. (6%)
Acquisition: $595.
Doc.: $99.
------------
$3024. (his number- this is off)
+ $460.21 (1st pymt)
It's added into the sale price already and you are paying it upfront? Doesn't sound right.
Lease Formula/Calculator
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
thx for ur help b4, but what do u think of this?
G35 Journey Sedan Auto prem, navi, sport
MSRP: 39,765
Invoice: 36,271
lease:
36 month
12k miles a year
463 per month before tax //// 502 per month after tax ( California tax)
36 Month – Residual 58% of MSRP – .00134 Base Rate
all the doc fees are included into the 1500 down ( includes first month, payment)
basically 1500 out of pocket up front
local sales tax: 8.250 %
he priced me at invoice, waived the security deposit
what do you guys think?
or should i wait for the g37 sedan, but i wont be able to get that car unless i pay msrp for it. is it worth it?
One other thing, that little favor he did for you by waiving the security deposit, Infiniti finance does not have a security deposit on leases.
I doubt they will be getting sticker for the new sedan when it comes out, the economy isn't going to turn around that quick, but you won't get if for invoice either. Of course the residuals should be better on the 09.
I am going to take a serious look at the EX35 because of the free financing and possible way below invoice pricing. My 5 dogs would like it a lot better then another sedan. I have to return my 05 sedan by 10/25, but I only have two payments of $400 left. I also have tag renewal by the end of this month of $350. This is such a buyers market in cars right now its almost worth it to eat the $800 (- $350) in payments.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
It is also confirmed that there is $2000 dealer cash on sedans. But unfortunately I guess it is only for a purchase.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I'm looking to lease a G35 Journey here in the Los Angeles Area.
Here's what's been offered.
G35 Journey with Premium, Sport and Nav.
MSRP of $39930
Selling Price of $36,393 (Invoice)
MF of .00103
Residual at 67%
24month lease
2K drive off (includes 1st month, registration ($300) and acq fee ($595)
Monthly payment of $470 plus tax (so total is approx $509).
I know the 2K drive off is $600 off if its just 1st month, registration and acq. fee.
Has anyone been getting deals under the invoice price.
Thanks!
Also, by September, I'm assuming the new 2009 models will be out so would it not be cheaper to lease a 2009 model with a guaranteed higher residual?
I personally pulled the trigger in May (even though my previous lease was through August) because I was afraid the rates would go up, not to mention getting nailed with a turn-in fee, wear and tear and exterior damage on my previous car. I took a chance, and it looks like I made the right call on that one.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Dennis
Does that mean this fall will be bad? Who knows, but last year at that times was not the time to lease.
Dennis
I'm posting final numbers below for a deal we think is about $150.-$350. over what we should be paying. I've posted these numbers beofre but these seem to be somewhat final. can u tell me what you think of these numbers?
** Also, dealer wants 1K credit card deposit to find the car. Swears he can get it. We want wheat interior with wood trim package. I also want low (10) miles to make sure it hasn't been test driven.
Is it customary for the dealer to take a deposit? If so, can I request in writing, that he'll find the car I'm looking for or I get my money back? Do you know how this works? I'm afraid of getting into a situation where he comes back and says he couldn't find the exact car and then I'm stuck. We're open to the outside color.
Txs for any insights!
-----
lease deal for G35x (AWD) w/Prem and wood trim pkge ($450.):
MSRP 37,775 (incl cargo net, splash guards)
Invoice $34,604
Sale $35,244 (incl $595. Aquisition fee, $715. Destination fee, $99. Doc fee, $350. Customer loyalty)
MF .00150 (36 months)
Residual 60%- 36 months
Cash upfront needed:
Fees: license: $154., title: $50.
Taxes: $2067. (6%)
------------
$2,271
+ $460.21 (1st pymt)
I don't know if they can do anything about the miles on the car, every dealer does PDI on it when they get it off the truck and that can add 5-10 miles to them. If they haul one in from another dealer then YOUR dealer will do another PDI on it to make sure it is "right" before selling/leasing it to you - so another 5-10 miles on it.
I have put deposits to hold cars many times and never had a problem, but I try to deal with dealers I trust
Dennis
Not true since Infiniti has sent me a $500 coupon for wear and tear on my current car if I lease another Infiniti.
My car is over $2000 upside down so no one is going to jump at buying it.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Big difference, since any dealer can make such an offer and just make sure to over charge you enough on the new deal to make up the difference. Or they just shrug when IFS bills you for the issues after you have already signed the new deal.
If it is from IFS, then I would assume it is legit. It could also be they always do this without a "coupon" or this could just be a "we are desperate" one time deal - I don't know. Coupled with the turn in "fee" this would be a good way to keep folks in the IFS fold since turning in a less than perfect car and NOT leasing a new one from IFS could cost you $850 more.
Always get a pre lease turn in inspection done so you get an itemized report (with prices) of what they might hit you with at lease end. Then you can decide if you want to fix items yourself or seek "forgiveness" or just pay them to fix it.
AHFC (Honda) is head and shoulders over these other lease banks, by the way. They offer $500 per item forgiveness and up to $1,500 per vehicle forgiveness and no turn in fees. It does not matter if you lease another Honda or not, but with that kind of attitude it is hard NOT to get another Honda
Dennis
They had really cheap lease deals on 08 Honda Pilots, for example, then pulled them in favor or finance / cash only deals once the 09 Pilot was set to launch. They have had cheap S2000 lease deals too, but pulled them for July (and they may not return, but who knows).
Any time sales are slow enough any captive bank can pull out a cheap lease deal to move cars, but they get 99% of them back at the end of the term. So at some point in the model year they may try to convince the customer it is much better to buy the car than to lease it. Generally when the new model cars arrive there are no deals - partly because of the left over prior year cars and partly because of all those "got to be the first one with the new model" folks that come in a buy. Once those folks have theirs and the prior model cars are off the lots, then they can start dealing on the new year cars.
For a 3rd party bank lease, the residual is highest at the start of the new model year and drops through out that year. The MF is tied to the lessee's credit rating and the cost of money. So if the MF was constant as was your price, then September is probably the cheapest time for a 3rd party lease. Captive lease banks don't follow any such logic - they set residuals artificially high and rates way low when they want to move cars - and can do it whenever it suits them. There were left over Infiniti Ms going for 0.00001 or something MF a couple of years ago.
Dennis
It was IFS. They sent one at the 6 month mark, and then one again at the 3 month mark.
There were left over Infiniti Ms going for 0.00001 or something MF a couple of years ago.
EX35's are going for .00001 for 24 months and .00002 for 36 months through 9/2
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Any insight on the deal itself? From what I've read and *assuming there are no surprises- this seems to be OK.
Thanks again, Mitch
It sure goes against logic that the residual on the 08 is lower in November then it is in March and April.
August 2007
2007 Infiniti G35 X Sedan
24 Month – Residual 67% of MSRP – .00169 Base Rate
36 Month – Residual 57% of MSRP – .00207 Base Rate
September 2007
2007 Infiniti G35 X Sedan
24 Month – Residual 66% of MSRP – .00146 Base Rate
36 Month – Residual 56% of MSRP – .00191 Base Rate
November 2007
2008 Infiniti G35 X Sedan
24 Month – Residual 69% of MSRP – .00241 Base Rate
36 Month – Residual 59% of MSRP – .00245 Base Rate
March 2008
2008 Infiniti G35 X Sedan
24 Month – Residual 70% of MSRP – .00142 Base Rate
36 Month – Residual 60% of MSRP – .00160 Base Rate
April 2008
2008 Infiniti G35 X Sedan
24 Month – Residual 70% of MSRP – .00142 Base Rate
36 Month – Residual 60% of MSRP – .00160 Base Rate
July 2008
2008 Infiniti G35 X Sedan
24 Month – Residual 68% of MSRP – .00147 Base Rate
36 Month – Residual 58% of MSRP – .00167 Base Rate
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I have been real busy the last few months so it has not been update to reflect the latest rates, higher prices, and customer cash. Each of the cars is "purchased" at $500 over invoice and everything else paid at signing and no taxes. Each is the model shown plus premium pack.
Dennis
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Also, because there has been no information on the release of the 09 coupes, I surely do not want to wait for that to be announced. By that time, my lease might already be up.
Now I'm getting nervous about turning in my non-infiniti car at the end of the lease for scratches/minor dents/tire wear. Assuming this is the way to go, I will see if I can get an Infiniti dealer to buy this car or at least make the rest of the payments (which is only 1-2 more left) so that I can avoid having any excessive charges.
Thx for help!
given the state of the economy + gas prices, and the timing of the new models coming out soon, one would think they would be offering better incentives to push through more volume. i don't get it. i want the car but i have to be realistic-- if the leasing terms aren't that attractive, i have to take a hard look at the alternatives.
It all depends - if folks do not buy even with the rates and incentives and don't lease based on the current rate, then they will either stockpile cars or have to offer better lease deals. If they can keep the days supply down without giveaway lease rates then I would guess they will be happy.
Dennis