2008 G35x w/navigation, premium package, and wood trim.
MSRP - $40,465 Sale Price - $36,800 39-month lease, 15K per year Money Factor: .00179 Residual: 54% Monthly payment - including 8% sales tax rolled in (we pay tax on full sale price in IL), is $559 per month with $892 due at signing (presumably title, license, doc plus first month).
Any thoughts on what I should counter with? Are the MF and residual fair/accurate?
Lastly, is it risky to wait until January on an Infiniti? Technically, I have my Audi until February 1.
Max, based on the research I have done AND the quote I have at the moment, your money factor should be .00119. That is the standard Infiniti money factor this month for the G35x for 39 months. The one they have quoted you - .00179 is adding about $35/month to your payment.
As far as waiting until Jan/Feb, I have been contemplating the same, but just yesterday I found out that supposedly in January Infiniti will be initiating a lease turn-in fee of about $400 for all leases going forward. So that's an incentive for me to go ahead and pull the trigger now.
Just got my GF an 08 G35x with Nav/Premium 10k a year 39 mos. Roughly $1500 due at signing(just fee's, no down payment) the payment is $419 a month including taxes. Money factor .00119 and residual of 54%. They priced the car for me at 34,000 and change. With an MSRP of 40,xxx.
Thinking of buying my '04 G35 Coupe from the lease bank in one month. They tell me the rate and purchase price are negotiable. Right now they are quoting $16,000 @ 7.1%. I can get a better rate, but not sure where to start on the price. If I walk away from it and turn it in, wouldn't the dealer offer them something around trade in? Ideas are appreciated. Thanks.
In almost all cases off lease cars go straight to auctions, the dealer that you turn it in to just holds it on their lot until it is sent to auction. They get enough trade-ins that they don't need off lease vehicles. Your car will appear on some other used car lot in the near future.
Depending on options, mileage etc $16k sounds reasonable. Of course for not too much more a month you could lease a new G with a fresh warranty.
Having leased an 05 and an 08 there is a world of improvement.
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 don't have the exact numbers in hand but, it was first month, doc fees, aquisition fee, DMV fee of $250(which I am switching plates so after done thet will give me the difference back which is about $180) and then taxes of all above mentioned. Went to Douglas in Summit, NJ. If you are an american express card holder there is a website for their auto purchasing program in which certain cars they will give you special deals at participating dealers.(This is how I found Douglas) A G35x with options comming out to 41000 and change amex will give you a gauranteed sales price of 33,716. Amex told me that the dealers should honor that price on leases as well.I was content with the deal they offered after prices I had gotten from other dealers so I didn't push for that price and took what they offered.
I'm in Philadelphia and looking for good terms on a G35. Dealers seems to be moving the 2008 leftovers. What's your opinion on a 39 month (39k mile) lease on a 2008 G35x RWD and $390/month with $0 due at signing? Nothing. Those are (supposedly) net payments as well.
I leased an '08 G35 Journey w/ 18" wheels back in January- I love the car but I need to get out of the lease to help my mom pay some medical bills. Wondering what my options are? It's a 36month, 12k miles/yr lease so there are two years left. I'm in Los Angeles so if anybody is looking to take over a lease for zero down, let me know. Or is there is another way to do it?
"Wondering what my options are? It's a 36month, 12k miles/yr lease so there are two years left. I'm in Los Angeles so if anybody is looking to take over a lease for zero down, let me know. Or is there is another way to do it? "
there is really no good option if you want to get out of a lease early. You can advertise to have someone take over your lease (e.g. swapalease.com, craiglist, etc.) or sell your car (to dealer, sell it yourselves etc.) and pay the difference between your selling price and Infiniti's lease termination price. And the final option is just walk away from the car payment and suffer the credit relate consequence.
Hi poparker. The dealer invoice price of the car that you described is around $36,900. After taking the $1,000 bonus cash incentive that Infiniti is providing on the '08 G35 right now into account, that becomes $35,900. As you can see, this is very close to the selling price that you were quoted. Dealer invoice minus the available cash incentives is a very good deal on this car. Just make sure to have the dealer that you are working with use Infiniti Financial Services' buy rate lease money factor (.00062 for 36 months) to calculate your monthly payment and you're in business.
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Hi masiisam. Infiniti Financial Services' current buy rate lease money factor and residual value for a 39 month lease of a 2009 G37 Coupe with 15,000 miles per year are .00279 and 57%, respectively.
It is difficult for me to give you my opinion on this deal without knowing what this car's MSRP and selling price are. Let me know and I'll tell you what I think.
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Hi jhp012. While the 2008 model year vehicles will certainly be gone by the time that your Lexus lease is scheduled to end in May, Infiniti will probably have attractive deals on '09 models by then. Of course, it is difficult to predict exactly what manufacturers' future lease programs will look like several months in advance.
If I was in your situation, I personally would wait until the scheduled end of my current lease to get something new. Even if the dealer claims to be making two of your remaining payments for you it is hampering your ability to get the best possible deal on your new car.
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Hey, Thanks for the info. I haven't been to the Infinity dealer yet to look around, but I certainly will. What kind of lease are they offering these days? Haven't really kept up with it since I leased mine back in '04. ( I am in Atlanta area).
After three weeks of emailing and phone calling every dealer in town (all two of them), here are the final lease details on my new 2008 G35x with premium package, painted mud guards, cargo net, and the performance wheel & tire package.
I rolled all fees into the lease so my first payment was the only thing due at signing. Monthly payment works out to $440/month before tax. For a zero-down 15k mile lease in my not-so-competitive market, I'm happy.
Picked it up on Saturday and had the pleasure of driving it home in a snow storm. Passed a half-dozen cars along the 30 mile trip home that went into the ditch or a guardrail. Not the G though....handled it with ease. :shades:
Is the money factor that much lower on the 36 month lease versus the 39 month lease using IFS? (.00062 vs .00119) I am working with thre dealerships now on an 08 G35x. The best deal so far is:
2008 Infiniti G35X MSRP $38,030 39 month lease 10,000 Miles Per Year $462.34 Per Month (Includes 6% Sales Tax) $0 Down $648.34 Total Due on Delivery
I still think there is room to come down on this based on what I have been seeing. Any opinions?
Here's the information that you're looking for, drjustin. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 G35 Sedan Journey with 15,000 miles per year are .00062 and 52%, respectively.
When negotiating your lease on this car, make sure to take advantage of the $1,000 bonus cash that is currently available on it. This incentive should enable you to get this car for under dealer invoice.
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I'm glad that you found this discussion so helpful, steelth. Thanks for taking the time to give back and share the details of your lease with everyone. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com as well to share your thoughts on your recent dealer experience. Happy holidays and enjoy your new ride :shades: !
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Hi dchez. At first glance, that payment looks great. However, it would be much easier for me to provide you with a detailed evaluation of this deal if you were able to provide me with this car's MSRP and selling price. As you probably already know, the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers, it is difficult to tell how large a dealer discount you are being given. Let me us know what these numbers are and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.
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I'm really sorry to hear about your rough situation, cjnapolitano. Unfortunately, it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
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Congrats on getting your new G35, tiger93. A snow storm, huh? It's a good thing that you went with the AWD version . Thanks for taking the time to share the details of your deal with everyone. If you'd like, you also can zip on over to the Dealer Ratings & Reviews to share your thoughts on your recent dealer experience as well. Happy holidays and enjoy your new ride :shades: !
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Hey stuffedmonkey. IFS' 36 month money factor for the '08 G35 AWD Sedan is a little lower than its 39 month factor, .00096 vs. .00119. This is not as large as the difference that you mentioned though.
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Thank you very much Car_Man........that helped ALOT! the dallas dealership had me at .00092 and my credit is 767........
now that i'm looking at the numbers on an '08, i figured i need to do my due diligence and at least check out the '09 possibilities. do you happen to have the Residual and MF for the '09 journey sport??
here is the deal i've been offered thus far, and to be quite honest, i'm sincerely surprised at how neither the tulsa nor dallas dealers are willing to come down on the sales price to move these '08's out.....
08' journey sport/prem
msrp =37985 sales price =34400(essentially invoice price) (dealer claims the $1000 incentive is his profit and also "said" "well i don't have to give you that incentive...." blah blah" " i need to make some money on it") residual=52%(19752) mileage=15k term=36 MF=.00062 acq fee=595 Tax=1240 capital cost reduction=$2k (said the gap insurance protects me in event of a total loss) doc fee=149
$440/mo
total due at signing=$2440(2k cap cost red and 440 for 1st payment.)
like i said, i'm not totally crazy about this deal, but i'm getting closer to pulling the trigger. closer, not there yet.
QUESTION: does one ALWAS have to pay their first payment?? or is this somehow a way to sneak in extra profit??? SOMEHOW??
thoughts? comments? thanks again for all the help you've given board members.
"capital cost reduction=$2k (said the gap insurance protects me in event of a total loss)"
It's not advisable to do any capital cost reductions on leases. The gap insurance will cover the difference between the commercial value and what you owe (so if you put 2k down and you happen to have a total loss on your car, you will never see that money again, but your gap insurance company might send you a thank you card ;-) ).
Given the low money factor, ask the dealer to roll everything into the lease and just pay 1st payment+Security deposit at inception. If the cash is burning a hole in your pocket, or your only other investment alternative is a Madoff fund, you're better off making multiple security deposits, which would further reduce your money factor rate. Security deposits are completely refundable at the end of the lease.
PS. Yes, you have to make the first payment at inception. Lease payments (like any other rent) are due in advance, as opposed to finance payments which are due at the end of each period.
No, they are a different concept (see post 3722 in this thread). You should get familiarized with how to calculate a lease payment before heading to the dealer. Edmunds has a very good article here, but I'll give you the gist of it:
There are four factors that come into play in a lease: two that are fixed, one that some dealers will try to play fast and loose with, and another that you have to outright haggle with: a) MSRP: This is fixed, printed on the window of the car. Just make sure it doesn't include any "dealer installed" crapola. Those accessories/protection plans are usually marked up through the roof. Decline them all. b) Residual percentage: Again, fixed for a determined mileage. The bank sets it and won't accept a contract that deviates from it. c) Money factor: Fixed, and you can learn about it here. However, in this case the bank sets a base (also called "market") money factor but lets dealers mark it up up to certain point, and they get a kickback on the difference. So you have to know what the base money factor is and insist that that's what is used in your calculation. Money factor for a lease is akin to interest rate on a traditional loan, so the lower it is, the better for you. Some banks will take multiple security deposits and give you a discount on the money factor in exchange. Since security deposits are completely refundable, this is usually a good option from the consumer's point of view. d) Capital cost: This is the amount for which the leasing bank is going to cut a check to the dealer. It equals the price you agree to pay for the vehicle after all the haggling, plus any other fees you decide to "roll up" into the loan. Let's talk about what these fees could be for a second: **bank fee, all banks charge an inception fee (again, there's a base or market fee that dealers are allowed to inflate to a certain point, so you need to check these forums to see what the current fee is), **title, tax and license (TTL), which are set by your state's DMV, **document fees, this is just crapola from the dealer, try not to pay any (California though sets it fixed at $50, so I don't haggle with that). All these fees can be rolled into the loan if you want (as opposed to being paid at inception). If the money factor is low, it could make sense to just do that.
Lastly, the formula: Your lease payment is composed by depreciation + interest:
In California, sales tax is applied not at the time of the sale, but at the time when each lease payment is due, so just apply your local sales tax to the resulting MonthlyPayment above to figure out how much to write the check for. Other states might have a different way of handling sales tax.
I am thinking about leasing an 08 G37 Coupe W/Premium package. The dealer is offering a 39 month lease with zero down at $399 per month. A total of $2,469 is due at signing. This includes taxes, DMV, and bank fees. Since I am clueless about leases, can you let me know whether or not this is a good deal?
I forgot mention that the vehicle is the dealer's test drive car. It has 400 miles.
I am new member here and I have been reading these posts for some time. With all the helpful advice I managed a deal for lease of 2009 G37x coupe AWD. I had recently been to a dealer here at Minneapolis and this is the figure he gave. I am looking for some suggestions and help me figure out if its a good deal.
Car = 2009 Infiniti G37x coupe + premium + navigation + wheel locks + car paint seal
MSRP = 44770 Inoice = 41064 (from Edmunds) Cap cost (after bargianing) = 43000 MF = 0.00243 (reduced from 0.00293 due to 5 MSD, 0.00293 - 5*.0001 = 0.00243) Residual = 58 % Lease term = 39 months Total number of miles per year = 10000 Lease amount = 660 per month
The sales manager was very understanding and explained that he cannot reduce the cap cost any further as its a new car. Is this a good deal or can i do better specially the MF and residual? Can I call Infiniti financials and find authentic MF and residual? Has anybody bought or looking to buy this car if yes could you please tell me what deal you have?
Please let me know as I am planing to settle this early.
That resid is unrealistic for an 08 model, and is most likely being manipulated to move cars. If you just plan to lease and turn-in...no worries, but I HIGHLY doubt that car will be worth 23K in April of 2012.
help me out guys, im ready to get a 2008 G35XS with navi, tech, and premium.
msrp: 42,430.00 deal: 37900.00
they are taking my two last nissan maxima payments which total to 700.00 and all that im giving down is 719.00 which is 1st mo. and taxes and tags. my monthly payment before tax is 483.00. 39 month lease with 10,000 miles a year.
should i jump on this? or try and get them down some more, please respond soon as i am ready to give my 500 dollar deposit.
Looks like the price is going to go down. I should be able to price at at least 1k below invoice and do better than .0082 MF with a Tier 0. I'll keep you posted and please let me know if I shou.ld be doing better.
I need your help. Deal one: I can get a 39 month lease from a dealer for $418. incl tax, 10,000 miles, on an 08 G35x premium package with 1759. out of pocket which includes the first month payment. Deal Two: I could get a 36 or 39 month from a leasing agency , 10,000 miles for 399 a month incl. tax, premium package, 1399 out of pocket.
I have a Volvo S60 R with one payment left on it. I think I could get a better deal on an 08 than on the new 09 when my Volvo lease ends because the 09 is going up because of the horsepower they are adding to the car. Am I correct and do you think I should take either or none of these deals and just wait?
I need your help. Deal one: I can get a 39 month lease from a dealer for $418. incl tax, 10,000 miles, on an 08 G35x premium package with 1759. out of pocket which includes the first month payment. Deal Two: I could get a 36 or 39 month from a leasing agency , 10,000 miles for 399 a month incl. tax, premium package, 1399 out of pocket.
I have a Volvo S60 R with one payment left on it. I think I could get a better deal on an 08 than on the new 09 when my Volvo lease ends because the 09 is going up because of the horsepower they are adding to the car. Am I correct and do you think I should take either or none of these deals and just wait?
price they are quoting from dealership is 34,141. The price from the leasing company is about the same or a few hundred less.
I am thinking of buying a 2006 Infiniti G35 6MT that I am currently leasing. The 39-month lease matures in August 2009. The residual value at the end of the lease is about $20,270. The pay-off amount currently is about $22,780 (+ Tax & fees). NADA suggests the current wholesale value is about $20k, and the current retail value is about $22k.
Do you think I can negotiate the purchase price of my car, down from the current pay-off amount? How should I go about it?
I would appreciate any advice you have for me. Thanks!
As the time comes closer to the leases end you may get a better price. I was caling about my Volvo for 2 months. They came down 2000. since I started. I think prices change again after Jan 5. Try calling then. It is worth a shot
Thank you for your input. I will check again with IFS. I think IFS told me the current payoff amount is good until 1/11/2009. I think it was related to the due date for my next payment 1/12/2009. I am thinking I might as well begin to pay down the outstanding towards ownership than pay for essentially renting the vehicle over the next 8 months. The difference in monthly payments [for a 60-month loan now vs my current lease] is less than $20. I have been very happy with my car - had this one for 31 months so far with zero issues. Did not have any problems with the 2003 G35 6MT either. Besides, it is difficult to find a better value among MT sport sedans. One way I am rationalizing my decision is -- for the price of an Accord EX, I have a well-maintained G35!
Just got back from the dealer, after 3 hours of negotiating, this was the offer:
2008 G37 Sport Coupe 6MT + premium, wheel/tire insurance (worth $15/mo), spoiler, kick plates, splash guard, sunroof
Lease price: 38.7k (36.7k after $2k trade in) 39 months, 12k miles dont remember the money factor & residual, but the monthly payment was $475 incl tax First month payment to drive away
I feel like maybe I could gotten like 465, but I had to push a lot for the 475. I have a 745 beacon score by the way. Also, this is in South Florida, where there are several Infiniti dealers, including the worlds largest Infiniti dealer (where this price is from). Is this a good deal? What should the MF and residual be?
I just signed on a fully loaded 2009 G37 all wheel drive coupe, with premium and navigation from infiniti of Manhattan (NYC), detailes are below:
MSRP - $44,715 Miles - 15k per year Term - 39 months Monthly payments - $649 Down payment - $0 only DMV, plates & first month
Additionally, the dealer reduced my first month by $600 which was the last payment on my old infiniti lease which ends this week. The way i looked at it is that the refund of my last month decreases my motnhly payments by approxiamtely $15 per month ($600/15 months). As a second not I was way over the milage approximately 4k miles over which trnaslated to $800 but I did not pay anything as I was able to use the $1,000 deductible towards my excess milage.
Hopefully this helps and you have not signed as based on the above it appears that my deal is some what better than yours.
From what i see on these boards there are folks that have negotiated much better deal than I have, well actually I feel like i was ripped off now but I defenitely did not do my homework, so hopefully this helps you avoid my mistake.
Good luck!
P.S. Car Man I have already singed but you seem extremely knowledgable on the subject, so in your opinion did I really wind up severely overpaying?
08 g35x with premium, nav & tech. MSRP 41,100 (per Edmunds), Invoice 37,552 (ditto)
Dealer offers to sell at 36600 or lease 39 mos/10k mile at $492 or 12k miles at $512 including NYS tax 0 down (1st month + DMV = driveoff). Haven't decided on buy v. lease. Does lease sound OK?
Comments
MSRP - $40,465
Sale Price - $36,800
39-month lease, 15K per year
Money Factor: .00179
Residual: 54%
Monthly payment - including 8% sales tax rolled in (we pay tax on full sale price in IL), is $559 per month with $892 due at signing (presumably title, license, doc plus first month).
Any thoughts on what I should counter with? Are the MF and residual fair/accurate?
Lastly, is it risky to wait until January on an Infiniti? Technically, I have my Audi until February 1.
Thanks for any suggestions.
As far as waiting until Jan/Feb, I have been contemplating the same, but just yesterday I found out that supposedly in January Infiniti will be initiating a lease turn-in fee of about $400 for all leases going forward. So that's an incentive for me to go ahead and pull the trigger now.
They tell me the rate and purchase price are negotiable. Right now they are quoting $16,000 @ 7.1%. I can get a better rate, but not sure where to start on the price. If I walk away from it and turn it in, wouldn't the dealer offer them something around trade in? Ideas are appreciated. Thanks.
Depending on options, mileage etc $16k sounds reasonable. Of course for not too much more a month you could lease a new G with a fresh warranty.
Having leased an 05 and an 08 there is a world of improvement.
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
Thnx
I'm in Philadelphia and looking for good terms on a G35. Dealers seems to be moving the 2008 leftovers. What's your opinion on a 39 month (39k mile) lease on a 2008 G35x RWD and $390/month with $0 due at signing? Nothing. Those are (supposedly) net payments as well.
there is really no good option if you want to get out of a lease early. You can advertise to have someone take over your lease (e.g. swapalease.com, craiglist, etc.) or sell your car (to dealer, sell it yourselves etc.) and pay the difference between your selling price and Infiniti's lease termination price. And the final option is just walk away from the car payment and suffer the credit relate consequence.
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It is difficult for me to give you my opinion on this deal without knowing what this car's MSRP and selling price are. Let me know and I'll tell you what I think.
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If I was in your situation, I personally would wait until the scheduled end of my current lease to get something new. Even if the dealer claims to be making two of your remaining payments for you it is hampering your ability to get the best possible deal on your new car.
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39 month/15k miles/yr
MSRP: $38,480
Cap: $33,853
MF: .00119
Resid: 53%
I rolled all fees into the lease so my first payment was the only thing due at signing. Monthly payment works out to $440/month before tax. For a zero-down 15k mile lease in my not-so-competitive market, I'm happy.
Picked it up on Saturday and had the pleasure of driving it home in a snow storm. Passed a half-dozen cars along the 30 mile trip home that went into the ditch or a guardrail. Not the G though....handled it with ease. :shades:
Is the money factor that much lower on the 36 month lease versus the 39 month lease using IFS? (.00062 vs .00119) I am working with thre dealerships now on an 08 G35x. The best deal so far is:
2008 Infiniti G35X
MSRP $38,030
39 month lease
10,000 Miles Per Year
$462.34 Per Month (Includes 6% Sales Tax)
$0 Down
$648.34 Total Due on Delivery
I still think there is room to come down on this based on what I have been seeing. Any opinions?
Thanks.
When negotiating your lease on this car, make sure to take advantage of the $1,000 bonus cash that is currently available on it. This incentive should enable you to get this car for under dealer invoice.
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You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
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now that i'm looking at the numbers on an '08, i figured i need to do my due diligence and at least check out the '09 possibilities. do you happen to have the Residual and MF for the '09 journey sport??
here is the deal i've been offered thus far, and to be quite honest, i'm sincerely surprised at how neither the tulsa nor dallas dealers are willing to come down on the sales price to move these '08's out.....
08' journey sport/prem
msrp =37985
sales price =34400(essentially invoice price) (dealer claims the $1000 incentive is his profit and also "said" "well i don't have to give you that incentive...." blah blah" " i need to make some money on it")
residual=52%(19752)
mileage=15k
term=36
MF=.00062
acq fee=595
Tax=1240
capital cost reduction=$2k (said the gap insurance protects me in event of a total loss)
doc fee=149
$440/mo
total due at signing=$2440(2k cap cost red and 440 for 1st payment.)
like i said, i'm not totally crazy about this deal, but i'm getting closer to pulling the trigger. closer, not there yet.
QUESTION: does one ALWAS have to pay their first payment?? or is this somehow a way to sneak in extra profit??? SOMEHOW??
thoughts? comments? thanks again for all the help you've given board members.
It's not advisable to do any capital cost reductions on leases. The gap insurance will cover the difference between the commercial value and what you owe (so if you put 2k down and you happen to have a total loss on your car, you will never see that money again, but your gap insurance company might send you a thank you card ;-) ).
Given the low money factor, ask the dealer to roll everything into the lease and just pay 1st payment+Security deposit at inception. If the cash is burning a hole in your pocket, or your only other investment alternative is a Madoff fund, you're better off making multiple security deposits, which would further reduce your money factor rate. Security deposits are completely refundable at the end of the lease.
PS. Yes, you have to make the first payment at inception. Lease payments (like any other rent) are due in advance, as opposed to finance payments which are due at the end of each period.
i'm not sure i understand the security deposit deal. will the monthly payment still remain the same as with a cap cost reduction?
No, they are a different concept (see post 3722 in this thread). You should get familiarized with how to calculate a lease payment before heading to the dealer. Edmunds has a very good article here, but I'll give you the gist of it:
There are four factors that come into play in a lease: two that are fixed, one that some dealers will try to play fast and loose with, and another that you have to outright haggle with:
a) MSRP: This is fixed, printed on the window of the car. Just make sure it doesn't include any "dealer installed" crapola. Those accessories/protection plans are usually marked up through the roof. Decline them all.
b) Residual percentage: Again, fixed for a determined mileage. The bank sets it and won't accept a contract that deviates from it.
c) Money factor: Fixed, and you can learn about it here. However, in this case the bank sets a base (also called "market") money factor but lets dealers mark it up up to certain point, and they get a kickback on the difference. So you have to know what the base money factor is and insist that that's what is used in your calculation. Money factor for a lease is akin to interest rate on a traditional loan, so the lower it is, the better for you. Some banks will take multiple security deposits and give you a discount on the money factor in exchange. Since security deposits are completely refundable, this is usually a good option from the consumer's point of view.
d) Capital cost: This is the amount for which the leasing bank is going to cut a check to the dealer. It equals the price you agree to pay for the vehicle after all the haggling, plus any other fees you decide to "roll up" into the loan. Let's talk about what these fees could be for a second: **bank fee, all banks charge an inception fee (again, there's a base or market fee that dealers are allowed to inflate to a certain point, so you need to check these forums to see what the current fee is), **title, tax and license (TTL), which are set by your state's DMV, **document fees, this is just crapola from the dealer, try not to pay any (California though sets it fixed at $50, so I don't haggle with that). All these fees can be rolled into the loan if you want (as opposed to being paid at inception). If the money factor is low, it could make sense to just do that.
Lastly, the formula: Your lease payment is composed by depreciation + interest:
ResidualAmount = MSRP * ResidualPercentage
Depreciation = ( CapitalCost - ResidualAmount ) / NumberOfPayments
Interest = ( CapitalCost + ResidualAmount ) * MoneyFactor
MontlyPayment = Depreciation + Interest
In California, sales tax is applied not at the time of the sale, but at the time when each lease payment is due, so just apply your local sales tax to the resulting MonthlyPayment above to figure out how much to write the check for. Other states might have a different way of handling sales tax.
Here is the info I have and would like to know what you think..
Thanks again for spending the time
08 G37 coupe, Premium package. Wheel/tire package
39 month lease
15,000 miles
Zero sign off..
463.55 with tax
the break down from the dealer is:
MSRP - 40,315
Cap Cost -36,095
Net Cap Cost -36,095
Money Factor -.00159
Residual – 57%
I am thinking about leasing an 08 G37 Coupe W/Premium package. The dealer is offering a 39 month lease with zero down at $399 per month. A total of $2,469 is due at signing. This includes taxes, DMV, and bank fees. Since I am clueless about leases, can you let me know whether or not this is a good deal?
I forgot mention that the vehicle is the dealer's test drive car. It has 400 miles.
I am new member here and I have been reading these posts for some time. With all the helpful advice I managed a deal for lease of 2009 G37x coupe AWD. I had recently been to a dealer here at Minneapolis and this is the figure he gave. I am looking for some suggestions and help me figure out if its a good deal.
Car = 2009 Infiniti G37x coupe + premium + navigation + wheel locks + car paint seal
MSRP = 44770
Inoice = 41064 (from Edmunds)
Cap cost (after bargianing) = 43000
MF = 0.00243 (reduced from 0.00293 due to 5 MSD, 0.00293 - 5*.0001 = 0.00243)
Residual = 58 %
Lease term = 39 months
Total number of miles per year = 10000
Lease amount = 660 per month
The sales manager was very understanding and explained that he cannot reduce the cap cost any further as its a new car.
Is this a good deal or can i do better specially the MF and residual?
Can I call Infiniti financials and find authentic MF and residual?
Has anybody bought or looking to buy this car if yes could you please tell me what deal you have?
Please let me know as I am planing to settle this early.
Thank you
We already took delivery and love the car but I would like to know if we got a solid/fair deal
How do the rest of the numbers look?..
msrp: 42,430.00
deal: 37900.00
they are taking my two last nissan maxima payments which total to 700.00 and all that im giving down is 719.00 which is 1st mo. and taxes and tags. my monthly payment before tax is 483.00. 39 month lease with 10,000 miles a year.
should i jump on this? or try and get them down some more, please respond soon as i am ready to give my 500 dollar deposit.
thanks,
Glenn
Looking to see what you think of this deal. 2008 G35 with Premium Package Only:
Grose Cap Cost = $32903
MF = .00082
Payment = $458
Drive off Fee's = Approx $800 (first, license & doc fees only)
36 Month lease
Deal one:
I can get a 39 month lease from a dealer for $418. incl tax, 10,000 miles, on an 08 G35x premium package with 1759. out of pocket which includes the first month payment.
Deal Two:
I could get a 36 or 39 month from a leasing agency , 10,000 miles for 399 a month incl. tax, premium package, 1399 out of pocket.
I have a Volvo S60 R with one payment left on it. I think I could get a better deal on an 08 than on the new 09 when my Volvo lease ends because the 09 is going up because of the horsepower they are adding to the car. Am I correct and do you think I should take either or none of these deals and just wait?
Deal one:
I can get a 39 month lease from a dealer for $418. incl tax, 10,000 miles, on an 08 G35x premium package with 1759. out of pocket which includes the first month payment.
Deal Two:
I could get a 36 or 39 month from a leasing agency , 10,000 miles for 399 a month incl. tax, premium package, 1399 out of pocket.
I have a Volvo S60 R with one payment left on it. I think I could get a better deal on an 08 than on the new 09 when my Volvo lease ends because the 09 is going up because of the horsepower they are adding to the car. Am I correct and do you think I should take either or none of these deals and just wait?
price they are quoting from dealership is 34,141. The price from the leasing company is about the same or a few hundred less.
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
2008 G35 w/ Premium $ Sport Package (MSRP $37,925)
$826 drive off fees
450.00 per month w/ tax
I don't think its gets much better than this!
I am thinking of buying a 2006 Infiniti G35 6MT that I am currently leasing. The 39-month lease matures in August 2009. The residual value at the end of the lease is about $20,270. The pay-off amount currently is about $22,780 (+ Tax & fees). NADA suggests the current wholesale value is about $20k, and the current retail value is about $22k.
Do you think I can negotiate the purchase price of my car, down from the current pay-off amount? How should I go about it?
I would appreciate any advice you have for me. Thanks!
I am thinking I might as well begin to pay down the outstanding towards ownership than pay for essentially renting the vehicle over the next 8 months. The difference in monthly payments [for a 60-month loan now vs my current lease] is less than $20. I have been very happy with my car - had this one for 31 months so far with zero issues. Did not have any problems with the 2003 G35 6MT either. Besides, it is difficult to find a better value among MT sport sedans. One way I am rationalizing my decision is -- for the price of an Accord EX, I have a well-maintained G35!
2008 G37 Sport Coupe 6MT + premium, wheel/tire insurance (worth $15/mo), spoiler, kick plates, splash guard, sunroof
Lease price: 38.7k (36.7k after $2k trade in)
39 months, 12k miles
dont remember the money factor & residual, but the monthly payment was $475 incl tax
First month payment to drive away
I feel like maybe I could gotten like 465, but I had to push a lot for the 475. I have a 745 beacon score by the way. Also, this is in South Florida, where there are several Infiniti dealers, including the worlds largest Infiniti dealer (where this price is from). Is this a good deal? What should the MF and residual be?
Thank you! :shades:
I just signed on a fully loaded 2009 G37 all wheel drive coupe, with premium and navigation from infiniti of Manhattan (NYC), detailes are below:
MSRP - $44,715
Miles - 15k per year
Term - 39 months
Monthly payments - $649
Down payment - $0 only DMV, plates & first month
Additionally, the dealer reduced my first month by $600 which was the last payment on my old infiniti lease which ends this week. The way i looked at it is that the refund of my last month decreases my motnhly payments by approxiamtely $15 per month ($600/15 months). As a second not I was way over the milage approximately 4k miles over which trnaslated to $800 but I did not pay anything as I was able to use the $1,000 deductible towards my excess milage.
Hopefully this helps and you have not signed as based on the above it appears that my deal is some what better than yours.
From what i see on these boards there are folks that have negotiated much better deal than I have, well actually I feel like i was ripped off now but I defenitely did not do my homework, so hopefully this helps you avoid my mistake.
Good luck!
P.S. Car Man I have already singed but you seem extremely knowledgable on the subject, so in your opinion did I really wind up severely overpaying?
Dealer offers to sell at 36600 or lease 39 mos/10k mile at $492 or 12k miles at $512 including NYS tax 0 down (1st month + DMV = driveoff). Haven't decided on buy v. lease. Does lease sound OK?