To compare leases (and the best way to lease financially), you should pay the first months lease payment plus registration costs walking out the door...not $3K or any other big number. While I don't know all the details, it seems as if you are giving the dealer an extra $2400 up front...so divide that by the number of payments and add it to the quoted monthly rate....assuming 36 months, your really paying $632 a month rather than the $566 they would like you to believe you are paying.
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.
company that can get you a VPP price? I mean. it seems like there is company after company listed. The dealer is supposed to check to ensure you are an employee of the company right?
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?
Just starting the dance in pursuit of M45 with Tech package,15 K per year and 24 mth lease. Wondering if I can use the VPP program, can anyone direct me to more info on the program and its requirements?
I forgot my VPP code when I went to the dealer and the manager said he'd just match the VPP pricing instead as he didn't want to go through the paperwork and hassle that involves the VPP pricing plan.
I am looking to lease a m35x for 24 months. Can someone provide me the residual and mf info for July for both 12k and 15/yr leases? Will additional security deposits lower the mf? If so what effect will each one have?
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).
Greetings All! Im relatively new to the forum world but just thought I'd share my recent lease experience. First of all, I owe it to this website and forum for all the help. I went to Infinity of Montclair and just got myself into an '06 M35 Sport, with the premium/ journey package "19 rims, w/ an msrp of 48,300 or so. Basically, I got them to deal me the car at $500 over invoice, which came out to $44,600. The money factor was an incredible .00001 with a residual of 63%, on a (2) year lease, 15,000 miles yr. Just to be sure on the numbers, I verified those rates with two other dealers in the area. My lease payment with a total drive off of $3000, came out to $580, including tax. That is also with no security deposits. I put down a small cap cost reduction for the lower payment, which I know is not always recomended. But with that Money factor, there was no need for any MSD to lower it. I dig everything about the car so far, and by far, for the money and what the car has, it was the right choice.
I just test drove the '06 M35 standard. Talked briefly with the salesman who said that with the Tech and Journey packages, he could sell the car for about 44k and then quoted a 39mos. lease payment at "at least" $700 a month. Granted this was a prelim discussion with no credit discussions or talk with the finance guys, however, this seems significantly higher then the montly lease payments quoted on here. Can someone help enlighten me. I have always purchased cars so the leasing concept is a bit lost on me.
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?
I don't know the July lease rates, but in June a 24 month lease on the same car would have had lower monthly payments than a 36/39 month lease. $700 does seem pretty steep...find out the money factor and residual and post here. Make your dealer run a 24, a 36, and a 39 month lease..don't let them just tell you that a 39 month is the cheapest....get the actual numbers. Make sure that they run either a 12k or 15K a year lease. The difference is that the residual for a 15K lease is 1% less than a 12K lease...about $25 a month or so. They have to run all the options for you....don't just tell them 29 months 12k cause that's all they'll run and you'll have no idea if you might have saved money on a shorter lease. Once someone posts the july mf and residual rates for the 06's, we can calculate your approximate payments right here.
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 .
Help me out guys. Is this fair? 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.
Based on your numbers, I get around $579 plus tax. You negotiated for $43500 but your dealer may add an administrative fee (pure profit) on top of that...that's, unfortunately, become a common scuzzy industry practice. Depending on your mood and pocketbook, I would tell them that $43500 includes all dealer charges and walk out if they refuse. Ask them to show you all the numbers they input into their computer to calculate the lease payments.
If that $676 per month is just the first payment, it may include transfer/registration fees which is normal?
No- the first payment is actually $869 which includes registration, title and first payment.
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.
Well, I've sent an email to the salesman to see if I could get a more detailed picture of the July numbers. I'd be much more inclined to switch from my C320 if the payments were closer to the high $500's or very low $600's. A payment of over $700 may not make sense for me. I'll let you know if I get the numbers back. I really appreciate your assistance and information. I love new cars, but dislike the car buying process a great deal.
I received what I feel is a very fair offer on either a 2006 M35 Sport or a 2006 M45 Sport w/ Journey, Tech, and Sirius packages. 39 months, 15,000 miles. 1st payment down only, $595 + tax on M35 sport, $665 + tax on M45 sport. I was told the car is being sold at invoice. I suppose it must be a decent deal when a competing dealership insists I am lying to them. The numbers on the 24, and 36 month terms were also in the same range...seems like 39 months makes the most sense, cos who wants to go through this again in 2 years. Anybody getting below invoice on these cars???? Car Man...what say ye?
Welcome sanmom35. 15,000 miles per year is the highest mileage allowance that Infiniti Financial Services publishes residual values for. In order to lease a vehicle with more miles than this, you will have to purchase them on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty. The cost per-mile is set by Infiniti Financial Services and I don't believe that dealers can mark it up, but you can always get quotes from a couple of dealers just to make sure.
Hi padge. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
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.
Hey goat3. If you were to lease a 2006 Infiniti M35 Sport through Infiniti Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00077 and 53%, respectively. The numbers for an otherwise identical 39 month lease should be .00103 and 52%. I would be happy to give you an idea of what sort of payment you should expect for this car, but in order for me to do so I need you to provide me with the full MSRP and approximate selling price of the exact model that you want. You can find the MSRP by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. You should be able to get an idea of how much you should pay for it right now by visiting this discussion: "Infiniti M35/M45: Prices Paid & Buying Experience". Let me know and I'll crunch some numbers for you.
Greetings mdgallo. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.
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.
Hi jrdr. $500 over dealer invoice is a good price for a 2006 M35 Sedan. If you can get this price and have the dealer you are getting your car from use Infiniti Financial Services' 24 month, 12,000 mile per year buy rate lease money factor and residual value of .00016 and 66% to calculate its monthly payment, you'll be in business.
Hi rwalkeredmund. I'm sorry to hear that your local area was hit so hard by Katrina. I hope that all of your friends and family made it through it OK. $500 over dealer invoice sounds like a reasonable price for this car to me, but I am not intimately familiar with what it is going for in your area right now. You may be able to get an idea of how much you should pay by stopping by the following discussion: "Infiniti M35/M45: Prices Paid & Buying Experience". Dealers tend tend to take consumers who are physically in their showrooms more seriously. You may be able to find a dealer that will accept this deal if you visit a dealer in person. I completely understand that it is difficult for to visit any of these dealers though because you don't live very close to them. Perhaps if you placed a call to a few dealers and explained your situation (not having a local dealer) they would know that you are a serious buyer and would be more willing to give you a good deal.
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.
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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.
Hi mta. It's good that you took the time to consider this offer rather than signing on the dotted line in a hurry the other night. One should always know the MSRP and selling price of the vehicle that they want to lease. These numbers show what sort of a discount you are being given and enable one to estimate what their vehicle's monthly payment should be. If you find out what these numbers are, I'd be happy to give you my opinion of this deal.
Hey jrdr. Changes in vehicles' mileage allowances have an impact upon their residual values. In Infiniti Financial Services' case, changing from 15,000 miles per year to 12,000 miles per year will cause a vehicle's residual value to increase by 1% for leases up to 42 months in length. The higher your vehicle's residual value is, the lower its monthly payment will be and vice versa.
Hi chucky2. The lease program for the 2006 Infiniti M35 and M45 varies depending upon the exact model that you want. For now I will assume that you are interested in a base 2006 Infiniti M35 Sedan. Let me know if you want something different. If you were to lease this car through Infiniti Financial Services right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00016 and 65%, respectively. The numbers for an otherwise identical 36 month lease should be .00098 and 54%.
I'm glad that you enjoy this forum so much, ram60. Unfortunately, only consumers who work for suppliers to Nissan and Infiniti are eligible for the VPP plan. You should be able to find out if your company qualifies, but if you don't know chances are it doesn't.
I'm glad that you enjoy this forum so much, ram60. Unfortunately, only consumers who work for suppliers to Nissan and Infiniti are eligible for the VPP plan. You can find out if you are eligible for this program by entering your company name into the following site: Nissan VPP Program, but chances are if you don't know if you qualify for this pricing you probably do not.
Here you go, lsachs. If you were to lease a 2006 Infiniti M35X through Infiniti Financial Services right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00044 and 65%, respectively. The money factor for an otherwise identical lease with only 12,000 miles per year would be the same, but its residual value would be 1% higher. you can buy down this car's money factor my making additional security deposits. Each additional deposit will reduce your car's money factor by .00010. Normally consumers can make up to nine additional deposits, but I do not believe that IFS allows vehicles' money factors to drop below .00001 so you may be limited. Still, if you have the extra money to make the deposits you can enjoy what essentially amounts to an interest-free lease of this car, which is a pretty sweet deal.
Hello dallasdriver. Since you are new to the world of leasing, 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.
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.
Hi ltcadviser. Dealer invoice is a very good price for a lease of an '06 Infiniti M35 Sport. You can find the dealer invoice prices of the cars that you mentioned to verify that this is indeed the price that you are being given by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. If you'd like I can provide you with these cars' money factors and residual values so that you can double check the payments that you were quoted. Let me know.
Ok, here are the details I got back from the dealer....
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.
I don't know if there are some unique things in the Texas law that cause your payments to be higher, but the prices you were quoted seem high.
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?
That really helped illustrate things for me and is much closer to what I was coming up with using an online lease calculator. I'm not sure where the 3k difference is. I have an appointment to pick one up later this week for an overnight test drive. When I go in, I'll see if I can get additional information. I'm also interested in seeing how the financing works. I'm a Realtor and I'm not sure how the financing for independant contractors work. I know it's possible because all of the Realtors in my office have significant cars. It's just a matter of seeing how it works. Again, thanks so much for your help. I will post again on Friday evening after I talk with the salesman.
Good News! 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
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
That's good to know, although, my credit is fair. After being laid off last year, I took a couple hits before deciding that I wasn't going to find another job in my field and changed to RE. I'm working hard to get it back to it's 775 it was before, but right now, I'm in the low 600's or very high 500's. It's sad, but one of the reasons I'm looking to get a cheaper payment and trade in the Benz.
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?
No one has posted the residuals yet, but there is a big difference in the mf between the 06 and 07. $80 a month sounds like it's in the right ballpark with the same markup over cost.
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.
I think that infiniti is actually financing at 6.5% on the 2007's. The 2006 rates are in lieu of rebates or cashback which is why they are at zero percent.
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.
ghstudio, 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
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?
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?
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.
Car_man please help. You probably remember seeing y question earlier about Audi and Acura. Yesterday, I got a purchase agreement from the infiniti dealer to lease an 2006 M35X with Journey and Technology package. I need your help to tell me if I got a good deal or if I was taken.
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.
Hello- this is my first post to this group. I am considering leasing a 2006 M45. When I talked to the dealer here (the onlly one in town) they wouldn't come off the MSRP a nickle! With 2007's ready to hit the floor and at $60,990 I thought that was ridiculous. I have started to call around to other regions to find a vehicle. I didn't really do my homework before I went in and I didn't find this forum until after I had returned home from the Dealership. I made the mistake of going in with a monthly payment in mind and we got real close. My question is this. Here's the deal I was looking at:
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.
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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?
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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.
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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.
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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.
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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.
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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.
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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: