By accessing this website, you acknowledge that Edmunds and its third party business partners may use cookies, pixels, and similar technologies to collect information about you and your interactions with the website as described in our
Privacy Statement, and you agree that your use of the website is subject to our
Visitor Agreement.
Comments
You might want to read my previous posts in this forum about multiple security deposits...and use that same $2400 as security deposits which you get back vs just giving it to the dealer. (my 24 mo lease rate is mf .00002 which is a finance rate of .05% (no, not 5%, .05%)...and I will get my multiple security deposits back in 24 months). (just for completeness, this wasn't against the list prices...it was just a few hundred over invoice)
The best infinity lease rates in June were for 24 months...not longer (your monthly payment for the same car was less if you leased for 24 months than if you leased for 36 months). If that continues in July, consider the 24 month lease.
Is there some company out there or some universal vpp code? Or is it even needed as the dealer is perfectly willing to sell at that price to anyone?
Help-
Any insight is appreciated, P.S. Great Forum!
http://www.insidenissan.com/vpp/nissan/index.html
I entered my company name and it came up. Then entered my personal info and got a code.
Thanks for the help.
(Also - if anyone can suggest how much over invoice I should expect to pay or where in metro NY/NJ they got a good deal I would appreciate it).
In addition, I would be trading in my Mercedes C320. According to Edmunds, I should have somewhere in the neighborhood of 2500 of equity in my car. Is it possible to just roll that over as the "lease costs" and walk way not writing a check except for first months payment?
Any information is appreciated.
Don't apply the proceeds of the mercedes trade in to your lease....get them to quote you the trade in as a separate number (make them write a check to you...). Then you'll know exactly what they are giving you for your car. Car dealers love to roll all kinds of things in a lease and just quote you a "special low" monthly figure...they actually don't want you to understand it.
Also, Read back in this forum on multiple security deposits....which may or may not make sense on your deal. It's been suggested that the MF on the 06's in July is .00001 which is effectively zero...so multiple security deposits can't lower that
2006 M35 Base with Journey, XM, and nav for $43,500
24month lease 15k 65% Res and MF of 00016. Credit qualifies for tier 0.
Dealer said $676 with first month payment and tax with no CCR. That sounds WAY high to me.
Help. Can someone walk through this?
I come up with those numbers being less.
Help-
Rusty
If that $676 per month is just the first payment, it may include transfer/registration fees which is normal?
I have asked for a lease workup sheet and when I get it it shows the cp cost as 43500 and then has a TX state tax of $4200 added to it adjusting the cap cost. SO that is why the lease number is high it looks. I thought I paid tax on the monthly payment of a lease. I live in MS but there are no MS dealers so I am dealing across the Internet with a Dallas TX dealer.
Any thoughts?
Car_man
Host
Prices Paid Forums
If you are not familiar with all of the terms that have been mentioned in this discussion, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
Are you using the proceeds from your trade as a down payment for this lease? I ask because it is not a good idea to do so. If your leased vehicle is totaled in an accident or stolen and never recovered, your down payment essentially disappears. There's nothing wrong with trading in your current vehicle when you lease a new one. Just have the dealer that you are working with cut you a check for any equity that you have in it rather than using the proceeds as a capitalized cost reduction for your lease.
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
As far as this car's lease program goes, if you were to lease a base 2006 Infiniti M35 Sedan through Infiniti Financial Services right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00016 and 66%, respectively.
Car_man
Host
Prices Paid Forums
P.S. I had to delete your original post because it contained your e-mail address. Edmunds.com frowns upon community members posting their addresses in messages. If you want someone to e-mail you, make your e-mail address public in your profile and tell them to check there. Sorry.
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
As far as this car goes, if you provide me with its full MSRP and selling price I will gladly give you my opinion of this deal.
You absolutely can use any equity that you have in your trade to cover the lease inception costs of your new vehicle. Have the dealer that you are working with apply your trade-in allowance towards your new car's first month's payment, security deposit, and Infiniti's $550 acquisition fee and then have them just cut you a check for anything that is left.
Car_man
Host
Prices Paid Forums
Car_man
Host
Prices Paid Forums
The M.S.R.P. of the car is $46,790 and can sell or lease it for $44,900. This includes the cost of swapping the X.M. satellite to Sirrius satellite radio. With 5k due at signing on a 24 month lease, this would put the payment at $578.76, which includes your first payment. The money factor on the 24 month lease is 0.00016. My guess is the lease numbers you are looking at come from the national ad, which is a base car, with $3,425 plus tax,title, and liscense due at signing.
I had mentioned that it seemed people were getting leases with similar equipment for far less then 700+ a month.
At anyrate, I thought I'd share. I don't really want to put 5k down on a lease car. That seems like a significant payment on a car you're giving away in 2 years.
Input?
Let's forget the calculators and just use common sense to figure out the lease payment. The lease rate of .00016 is effectively zero so for the time being let's just ignore it. You are going to pay $44900 for the car and when you return it, the car will be worth .65x46790=$30413. The difference $$44900-30413=$14486 is the amount you have to pay in 24 installments $14486/24=$603 per payment. Now there are some valid charges over and above that which you can pay at the beginning or over the life of the lease including origination fee, title/registration fee and, if you can't get out of it, that extra gouge called administration fee. Let's guess that this adds up to $1000. Your total out of pocket cost for the lease WITHOUT TAXES over the two years would be 24x603=14472+1000=15472. OK....00016 isn't really zero, so we have to add on $12 per payment interest so that means you should pay 15472+24x12 or $15760. (I cheated..I used the calculator).
Now you are being quoted $578/mo plus a $5K downpayment. The total for your dealers suggested lease is $578x24=$18872 which may include tax, you don't say.
His lease: $18872 My Calculations above: $15760
Ask your dealer to explain why the two are so far apart...and let us know.
I will most likely lease a new car by the end of this month. Infiniti has started to deliver the 2007 vehicles to dealers. Do you know if there is a different mf and residual for the 2007's if leased through nissan?
I qualify for the Plan D VPP plan thru my wifes employer. They extend the plan to employee and spouse ( I knew I loved that girl!)
Here is the quote I received today on an 2006 M45
M45 Sedan only option added is Navigation package.
MSRP $49,560
Best offer thus far (Cap Cost) $45,833.81
assuming Beacon score of 700 and 15K miles per year
no MSD and only first month paymentdown
(including 7% sales Tax) These are the payments
24 mth - MF- .00055 Residual $33205.20 (67%?)---$658.00
36 mth - MF- .00108 Residual $27258.00 (55%)----$670.30
39 mth - MF- .00120 Residual $26762.40 (54%)----$647.82
Two questions: These lease factors are significantly higher than those quoted earlier on this forum. Does this seem right? How does the neogitiated price strike you?
Consumer Reports say Wholesale invoice is $44,450
Any insight would be appreciated. Thanks
Many Thanks!
Do you know the residual and mf for 2007 ifs leases? I would prefer the 2007 (wife like the lumbar support in the passenger seat) - and the dealer is telling me that the lease payment on a 24 month lease is going to run about $80 more per month due to a higher mf on the 2007. Does that seem correct? Would you not expect to get a slightly better residual on the 2007 at this point?
How would your multiple security deposits approach affect this deal? Also, do you think these are the real MF rates or do you think they are uping the MF and tieing it to the VPP program offer? Thanks in advance for your view.
Multiple security deposits will work on .00275 but the max I think they will allow is 7 so your rate will still be .00205 which is better. Depends on the residuals...and if you aren't VPP, then it depends on the price you negotiate for the car.
As far as I know, mf and residuals are not tied to VPP.
Thanks for your reply. I am not sure if I am linking these messages together properly( msg 550 original post) . The question I had revolved around a recent M45 offer. I will repeat it below:
Here is the quote I received today on an 2006 M45
M45 Sedan only option added is Navigation package.
MSRP $49,560
Best offer thus far (Cap Cost) $45,833.81
assuming Beacon score of 700 and 15K miles per year
no MSD and only first month paymentdown
(including 7% sales Tax) These are the payments
24 mth - MF- .00055 Residual $33205.20 (67%?)---$658.00
36 mth - MF- .00108 Residual $27258.00 (55%)----$670.30
39 mth - MF- .00120 Residual $26762.40 (54%)----$647.82
I understood previous post to show 24mth MF of .0001 and your comment was that no MSD would meaningfully lower that rate. Do the rates that I was quoted sound right? If so, does that suggest that the MSD would make sense?
Thanks for taking time to share a view.
2 quick questions.
1) - When would you expect the mf on the 07's to come down? At some point they need to come down in order for dealers to have a competitive lease rate for the vehicle. Is this an August event or does it happen in Oct or Nov?
2) - Does anyone know what the residual on m35x 24 mos leases are with 24mo. I have seen 66pct and 67 pct listed. Did it come down in July or is it still 67pct?
Thanks for all the help!
For each multiple security deposit the MF is reduced by .0001 .... I believe that the maxiumum number of deposits is 7 (for infiniti) and I dont' think you can bring the mf below 0. On the 24 month lease you were quoted, I believe 5 security deposits would bring the mf down to .00005. If the quote is correct then infiniti rounds the MSD deposit up to the next multiple of $50, so on the 24 month lease each additional security deposit will be $700. You get the $700 back at the end of the lease.
The difference between a 12K or a 15K lease is that the residual (eg. 56%) is reduced by .01 for the 15K lease(55%).
The mf and residuals differ depending on the model. My example was for the base M35 not the m45. Someone said the July rate was .00001 for the base M35, so that's what I used.
list price $50,940
The offer is that they take my trade in (estimated at $10K) and apply it to the lease.
I pay $450/month for 39 months and 12K miles per year.
Essentially they take my trade in and I drive away the M35X for $450/month.
Can you help reconstruct the deal?
2006 M45 MSRP - $60,990 (Black/Bourbon - Loaded)
My Trade-in - 2000 Linc Nav 68k miles ($9500) 3 other dlrshps offered me 12K as a trade-in.
Lease term- 39mos
Monthly note- $582.00 (their offer)
I am wondering how bad a deal is this? I have no intention of going thru with it after reading this forum and the one about pricing etc. It appears people are able to negotiate deals based on Dlr Inv + $500-$1000 so I know I can do better on the Cap Price. Can someone give me a quick rundown of the process and how it should work? Is it a bad idea to trade-in against a lease? Should I really be overly concerned about all the details if I can get my monthly note bogey of $500? Any/all help appreciated! Sorry for length of post.
Stick :confuse: