Infiniti G37 Lease Questions

CarMan@Edmunds

Here you go, Sam. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 G37X Sedan with 12,000 miles per year are .00226 and 59%, respectively. The numbers for an otherwise identical 39 month lease are .00244 and 58%.

The residual values for leases with only 10,000 miles per year are 1% higher.

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CarMan@Edmunds

Here you go, richardnva. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Infiniti G37 Sedan Journey with 12,000 miles per year are .00223 and 58%, respectively. The residual value for a lease with only 10,000 miles per year would be 1% higher.

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CarMan@Edmunds

Hi Pippin11. The $2,000 dealer cash that is currently available on the 2008 G37 Coupe is not compatible with its special lease program. However, Infiniti is providing a $500 bonus cash incentive that is. Make sure to take that cash into account when negotiating the selling price for your lease.

Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 G37 Coupe Sport with 15,000 miles per year are .00148 and 57%, respectively.

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CarMan@Edmunds

No problem, sluurrpee. Talk to you in March.

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CarMan@Edmunds

Hey stumc1. Infiniti is not currently providing any cash incentives on leases of the 2009 G37 Sedan that I am aware of. As a result, you may have a tough time finding a dealer that is willing to lease you this car at a price that's well below dealer invoice. I personally would shoot for dealer invoice or slightly over if I was in the market for this car.

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CarMan@Edmunds

HA a $5,000 down payment, slagblip. I'm glad you realize what a bad idea that is.

The money factor that you were quoted is slightly high. IFS' current buy rate for a 36 month lease of an '09 G37 Coupe Journey is .00279. Make sure that the dealer uses this money factor to calculate your payment.

The only other negotiable aspect of this deal is your car's selling price. There is at least a $2,800 spread between its MSRP and dealer invoice price. You are being given a $1,750 dealer discount, so there's probably at least another $1,000 to play with there. See if you can get the dealer to reduce this car's selling price some. That will help.

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girmann

Currently leasing 2007 G35X, purchased 1/31/07

Monthly lease payment: 478
23 payments made,14 to go
Purchase option @ end of lease (5/1/10): $21,340
Early termination fee: $3500 (quoted from IFS 11/2008)

When I spoke to the dealer, they said that they could not deal on any of these figures. Has anyone had any success in negotiating any of this? Does this seem like a good deal?

knr5

This is a quck update.

I bought the 2006 Infiniti G35 6MT I was leasing last month - about 7 months before the lease maturity date. I am happy with the decision -- the car is a peach!:)

The only fly in the ointment was the nightmarish experience of the purchase process. Infiniti requires that the purchase be made through the dealership and not directly with the IFS through whom the original lease was obtained. This has nothing to do with price negotiation, there was no negotiation since the pay-off amount was determined by IFS. It was the rest of the process -- what should have been done agreeably in a week was concluded in a most unsatisfactory, acrimonious manner in about 45 days! I had to make numerous calls to various people at the dealership, various departments of Infiniti, various departments of my bank, and different people in the county treasurer's office -- I had to repeat everything, nobody claimed to know anything, and nobody at Infiniti or the dealership wanted to be responsible for completing the job. Like I said, I paid for the car first week of January, and everything was concluded last week. I am so ticked off by the dealership, I do not wish to visit them ever. BTW, thanks to Infiniti changing the approved dealership twice in the last 3 years, I leased my car from one dealership, serviced my car at another, and bought out my lease at a third dealership.

I wanted to close the chapter on this saga. I hope my experience is not typical.

p.s.: Now that I am in a better frame of mind, I probably will try the new dealership once to see if they can earn back my trust.:)

slagblip

Thanks car man! Here is the revised deal. It turns out he was quoting me with the nav/spoiler.

MODEL: 2009 G37 Coupe - Journey
OPTIONS: Premium, Sport, Navigation, Spoiler, Illuminated Kick Plates, Glass Sensor, Trunk Cargo Net, Trunk Mat.

The MSRP is 46,090.00. Edmunds says the invoice is $42,041. He said invoice is $41927. This is looking like a pretty sweet deal. Granted, we haven't run my credit yet, which will no doubt bump up the MS a little bit.

Thoughts?

Capitalized Cost...... 42,402.67
Cap. Reduction........ 2,669.27
Tax................... 206.87
Doc Fee............... 45.00 Gov. Fees............. 8.75
Bank Fee.............. 595.00 Advance Pmts.......... 615.11
License Fees.......... 372.00
Total Cap............. 43,414.67 Total Drive Off....... 3,500.00
Cap Reduction......... 2,669.27
Net Cap............... 40,745.40 Less Rebates.......... 500.00
Residual....59.00% ... 26,998.40 Cash Due on Delivery.. 3,000.00
Total Depreciation.... 13,747.00
Rate.................. 2.790
Depreciation.......... 381.86 Term.................. 36
Rent.................. 189.01
Subtotal.............. 570.87
Tax................... 44.24
Monthly Payment....... 615.11

stumc1

Car Man,

Have you heard if IFS will offer any March lease incentives on '09 G37 Sedans? I spoke to a dealer in Florida last week who said that March is the end of the Japanese fiscal year and typically brings the most agressive incentives from the manufacturers.

I'm looking at a '09 G37 Journey Sedan with Premium Package. When available, can you send over the March lease rates and residual value for a 36 month lease with 18k miles/yr?

Thank you!

lagsun

Car Man,

I'd be interested in the March incentives as well. My current lease ends this month and I'd like to get an '08 G35X sedan with Premium Package. In the market for a 36 month, 12K miles lease.

Thanks!

mtw76mtw

I'm also chiming in with my interest in March incentives. As I posted earlier in the thread, my dealer here in DFW basically told me in early-February that I'd be much better off waiting until March to lease an 09 G37 coupe. In February, the incentives were all about moving the remaining 08s, and it March it should shift over to favor the 09s.

I'm also hoping the lease money factor drops again for the 09s, as it was significantly higher in February for some reason and really had the final lease rates jacked up quite a bit. Here's hoping for lots of good news from IFS soon.

spk55

Any word on whether the lease money factor will be going down in March for the 09 G37 sedan? My current lease expires on April 10th.

sam_k

spk55, assuming your current lease is with Infiniti Financial Services, if you're not happy with the leasing terms offered in March or April, IFS will allow you to extend your lease up to 2 months on a month to month basis. My 2006 M45 Sport lease was supposed to be up at the end of February but I extended it so that I could wait for the March leasing terms on the 2009 G37x sedan since February's terms weren't that great. If March isn't great either then I'll wait for April.

mtw76mtw

My dealer in DFW just told me he got the March lease info. Money factor on a 2009 G37 coupe is .00339, with 60% residual for 36 months.

Money factor still seems pretty high. Any thoughts?

stumc1

Wow, .00339 is worse than February's MF. 8.13% APR, Infiniti must not want to sell cars!

mtw76mtw

I'm hoping that's either wrong, or he's just quoting me high. Otherwise, yeah, that's bad news for March.

stumc1

Infiniti G Sedan sales were down 47.5% in Feb '09 vs. Feb '08. I would think IFS will have to offer lease incentives for March. I guess we'll see.

marker70

just talked to a local dealer and he quoted me a MF of .00209 and a residual value of 59% on a '09 G37X for 36 mos/10k.

mtw76mtw

Thanks for that. This is why the internet is so valuable, because otherwise I'd have to take the guy at face-value and/or find another local dealer to give me a different set of numbers.

What's frustrating is that of all the variables involved, the money factor is supposed to be static, set by IFS and non-negotiable. It will be negotiable, of course, if it's just the dealer trying to pad their profit by quoting an inflated money factor.

kingpcgeek

What's frustrating is that of all the variables involved, the money factor is supposed to be static, set by IFS and non-negotiable

Who says? Car dealers have been adding back ends to lease and purchase deals for a long time. In the past few years the Internet has allowed people to compare the captive finance rate and what the dealer is offering so it has become less prelevant.

In my round of shopping last year I found a Lexus dealer doing it. He admitted to the fact when asked.

spk55

I received this message from a Los Angeles Infiniti dealer today on a 2009 G37 sedan:

"I wanted to follow up with updates on March Money factors and Residuals
from Infiniti Financial Service. 12000 miles per year, 36 months is 57%
residual. Money factor of .00206. 39 months is 56% residual money factor
of .00226."

Is anyone aware of better rates being offered on this car?

corndawg

Infiniti does not want to sell their G37 sedans. It seems as though the MF went
down, but they are quoting higher numbers than last month. I dont get it. I have never seen one on the road, and I dont think I will for a while.

stumc1

I agree, my local dealer still has the same '09 G37 Sedan that I looked at over 3 weeks ago along with 36 more just like it. Don't know how these guys plan to stay in business.

mtw76mtw

My dealer is sticking firm to his "money factor for March is .00339" line, while just in the last page there are multiple posts to the contrary.

Anybody got the official word from IFS yet for March?

Also, is it reasonable to expect to get a 09 G37 Journey coupe at or near invoice in March? The deals I've read about here and elsewhere are all over the board, but most seem to suggest that hitting near (or below) invoice is the target. Is that valid for 09s, or was that just for the clearance of 08s?

marker70

is this the only dealer near you? If not, why don't you shop the other dealers? That MF they quoted you is ridiculously high..I wouldn't even consider their offer.

cavok99

I just came back from a dealership in the chicago area and was given a money factor of .00279 fro a 2009 G37 coupe.

sam_k

Car_man,

Any word on the March leasing terms for the 2009 G37X sedan? Again, I'm interested in 36 and 39 month leasing terms for 12K and 10K miles per year. Thanks in advance.

Sam

corndawg

This month is absolutely not the month to lease a G37 sedan.
Ive visited a couple of dealers yesterday, and none of them wanted to sell
the G37s. The bad programs that they had have gotten even worse. The
residuals have changed and the payments are ridiculous. For a base Journey
sedan, the best price for 12k, 39 month, $1000 TDO, was $540/month.

mtw76mtw

Think this applies to the G37 coupes, too?

I wonder what Infiniti is thinking? Last month, my dealer told me not to lease and 09 in February because the rates and incentives would be much more favorable in March. Yet when he got back to me, that certainly wasn't the case.

panther21

I am turning in my Infinit M lease for a 2009 G37x coupe. G MSRP is 45,875. I am getting a VPP number from a freind that is the regional sales manager for Infinti. Can someone tell me what reasonalble lease terms would be for a four year, 15K mi per year lease for this car? I do get 500 dollars loyalty cash and tax here is 7.25 per cent.

lagsun

Hi Car Man,

A dealer in the SF Bay area emailed me this 3 year/12K miles a year lease deal for a 2008 G35X with Premium Package, Trunk Cargo Net, Splash Guards:

Zero $0 cash due on delivery
1.MSRP $38,080.00
2. Cap cost $33,912.00
3. Residual 51% ($19,420.80)
4. Money Factor .00023
5. Monthly payment $476.80 with tax

Per Edmunds the cap cost is $1K under invoice. Does this deal sound good?

Thanks,
john

nickr1

You are correct, I got the same thing. The G37 AWD coupe is closer to $600/month lease for 36 months with 2,500 down, this is NY of course, the most expensive place to buy a car in the US. The Infiniti dealer here acts like the car sells itself and no matter how many he brings in they go right out the door at asking price. Slow economy, not here.

It makes me laugh though, what are the odds of him telling me the truth if the truth was that no one was buying or leasing and they were scared and on the verge of losing it. If that was true he would never tell me anyway. We read that GM is going under in the Times everyday yet they haven't lowered their prices, wtf??? Toyota is laying off thousands and closing plants and announced a 60% drop in sales yet they aren't lowering their prices and their lease deals are as high as ever.

Strange times we live in, some companies crash virtually overnight and others act like it's still a boom time. I'm really confused and amazed, but I'll bet in a year, some truth will come out and the pretenders won't be able to pretend anymore.

nickr1

I've just got to say I think this is a terrible deal. 615/month plus 3,000 up front is over 25,000, that works out to $700 per month total. To pay 25,140 for a 40,000 car for the right to drive it for 3 years and then not own it at the end is nuts, sorry. But I will say, the G37 coupe is a sweet car.

bluvision

This seems a little ridiculous

2008 G37 Coupe lease
*Premium Package*
$3000 down, +$3250 in inception costs (taxes was something around 1500, and 'others she said)
Leaving total down $6250
10k miles allowed a month
$375 lease payment.

She didn't give me the numbers she was going off of, but does the money down seem ridiculously high to anyone else since it is an 08 model?

bluvision

Sorry one other thing this is a 39month lease

CarMan@Edmunds

Hi stumc1. Unfortunately, Infiniti did not make any major enhancements to its March lease program for the G37 Sedan. Its current program is very similar to the program that was available in February.

Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 G37 Sedan Journey 2WD with 15,000 miles per year are .00206 and 56%, respectively.

15,000 miles per year is the highest mileage allowance that IFS publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

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bman33

Car_man:

Do you happen to have the March, 2009 lease rates for the 2008 G35X? I am getting a quote of $475 (including 5.1% monthly tax) with only 1st month & title/registration due at signing on a 39 month lease w/ 15K per year. For some reason, the dealers won't give me the money factor and residual %.

marker70

Car Man,

how about the MF and residual on a 09 G37X with Sport, Premium and Nav for 36 mos/10k per year.

Thanks!

nickr1

bluvision

You know, with that money down factored in you are paying $525/month for 39 months or 20K+ total for the life of the lease. That's a hell of a lot of money and not worth it imho.

I've been reading this excellent forum for years now and every lease on every model, especially luxury models, is so confusing and so manipulative it just makes me want to scream, or get Congress to pass a law that dealers must show transparency when quoting leases. Right now it's a shell game and purposely confusing to the average buyer. If you are a dealer or a math genius and you think it's all easy, then why are there thousands of posts from confused consumers on every single lease forum regarding every single model?

fireboy379

First off, thank you Car_man and everyone else on these boards that I have been following for years.

I am currently leasing a 2006 G35X that is coming off lease at the end of April. For the past month I have been calling and emailing dealers about leasing a new G37X with nav and premium. They all seemed to be in the $550 range including tax for 39 months with just the bank fee upfront. I went today to Kings Infiniti in Brooklyn (the place was a ghost town) with my future mother-in-law who prides herself on her negotiating skills. The dealer gave me an initial offer of $579 and he would eat my final lease payment on my G35X. I was about to walk out and my future mother-in-law dragged me back to the table.
Long story short…$515 a month including tax for the G37X with prem and nav and they will make my final lease payment. I am paying the usual upfront costs (bank fee, title, etc) but no cap cost reduction. I whish I could give you the details of my money factor, residual value and most importantly purchase price, but I was very bad and didn’t get those details. I have to pick the car up before the end of the month and have to pick one from dealers inventory.

sam_k

nickr1 is correct about the cost of that lease. It seems high. People focus too much on the monthly payment amount and if a dealer asks how much you can afford a month, they will simply raise the down payment so that your monthly payment drops to the amount you want. A dealer can make a $50K cost $500/month with enough of a down payment.

And that brings me to my second point which I've made over and over again on this board. Any leasing expert will tell you that you should NEVER put any money down on a lease (i.e. cap cost reduction), not even the taxes. Yes, it reduces your monthly payment but if your leased car is totalled or stolen the day after you get it, your insurance company will NOT pay you any of the money back. The leasing company owns the car not you, so your insurance company will pay off the balance owed on the car to the leasing company. If you bought the car, the check from the insurance company would be made out to you and you'd have to pay off any loan on the car and then you can keep the difference. If it bothers you that you're be paying interest on the taxes by putting them in the lease payment, then take the money you would have used to pay the taxes and put it in a money market account or CD and earn some interest back. I know it will probably be less than the interest you'll be paying on the taxes but it's better than nothing. The other advantage to putting no money down is that you will have access to that extra cash in case you ever need it.

picklof

This is a great deal, fireboy379!

I'm in the Philadelphia area and I can attest that your deal is not being offered in this market area.
What is the name of the dealer? It would be worth the drive up to Brooklyn to purchase a car with the deal you mention.

Thanks!

fireboy379

Kings Infiniti on Neptune Ave in Brooklyn, NY. Give them a call and see if they will cut you the same deal.

drjcool1

Fireboy,
That is great deal! How many miles per year? What was your total out of pocket/out the door cost including all? Would you share the name of the salesman? Thanks to all my questions in advance!!!

fireboy379

Let me check with the sales rep before I cause him a ton of phone calls.

Total out of pocket was about $1,300 (bank fee, title, first payment etc...NO cap cost reduction). 39 months, 12,000 miles a year, but I had to take a car they had in stock. I am not picking up the car until the end of the month (that was my choice), and I am starting to wonder if this deal is too good to be true. But I did give them a $500 deposit and have a signed contract.

CarMan@Edmunds

Hi lagsun. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 G35X Sedan with 12,000 miles per year are .00023 and 51%, respectively.

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CarMan@Edmunds

Hi mtw76mtw. Infiniti's March incentives aren't significantly different than its February incentives were. Infiniti usually runs its core incentives programs on a quarterly basis with minor revisions in between. If it was going to make a major change to its incentives on the G37 Sedan, I would expect it to happen in April. Of course, there's no guarantee that its April programs will be any different than its current one.

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CarMan@Edmunds

Hi spk55. Through March 31st, Infiniti Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2009 G37 Sedan with 15,000 miles per year are .00206 and 58%, respectively.

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CarMan@Edmunds

Hey mtw76mtw. The money factor that you were quoted is definitely high. Infiniti Financial Services' current buy rate lease money factor for a 36 month lease of an '090 G37 Coupe is only .00279, which isn't incredible...but it's a lot better than .00339. The dealer that you are working with may be marking your car's factor up in an attempt to add additional hidden, back-end profit to your deal.

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