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Car_man
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Car_man
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The lease program that you were quoted for this car in not in line with Infiniti Financial Services' November program for it. IFS' current buy rate lease money factor and residual value for a 21 month lease of a 2007 M35X with 15,000 miles per year are .00137 and 70%, respectively. Also, for the month of November, IFS increased its acquisition fee slightly to $595.
Car_man
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Car_man
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Car_man
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I believe that the car that you are interested in has a spread of around $4,000 between its full MSRP and sealer invoice price. If the cap cost that you were quoted is before any down payment that you decide to make is subtracted, this is a very good price. If not, this is a terrible price because you are paying fairly close to full MSRP. It is not in your best interest to make a large down payment when leasing anyhow. Consumers who make down payments on leases risk losing them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off leasing this car with zero down.
Car_man
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Car_man
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P.S. I had to delete the post that I am replying to because it contained your e-mail address. If you want community members to e-mail you, make your address public in your profile and tell them to check there. Thanks.
What MF and residual are you using on this lease? Thanks.
Any experience with dealers in the NY metro area?
Thanks.
Focus on the "cash price" for the car you want (the discounted price they are really charging you), the mf, the residual and any other fees they are charging....and get all of that in writing before they fill out the lease paperwork.
Dont' cloud the deal with a trade in...if you have a trade in, tell them you want a check for the full amount they are quoting you. The deal you want is no money down...just the first month's payment and license/registration fees and any required taxes...that's it. Finally, consider multiple security deposits to reduce the MF. Read back in this forum on that topic...it will save you money.
MSRP 48,110
Cap Cost 45,500
Doc Fee 399.00
Bank Fee 595.00
Residual 54%
Rate 1.780 = 655.84 for 39 months 1000 miles per month
This is a Costco deal at 750 over invoice.
How does this look?
Car_man
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"Hi wsox. A selling price of $47,000 on a 2007 Infiniti M35X with an MSRP of $51,500 would yield a 36 month, 15,000 mile per year monthly payment of around $664. As I mentioned though, this is with only 15,000 miles per year. This is the highest mileage allowance that Infiniti Financial Services 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 the end of your lease and have to pay an excess mileage penalty. As you can see, you are going to end up being closer to $700 a month than $600 once tax and the additional miles are added in. If you really want to be closer to $600, you are going to have to make additional security deposits. Each additional deposit that you make will lower your car's money factor by .00010.
Car_man
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Car_man
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Car_man
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Using the prices that you mentioned, an MSRP of $48,110 and a selling price of $45,500, I estimate that the 39 month, 12,000 mile per year, zero down, pre-tax monthly payment for a 2007 Infiniti M35 Sport is $628. If you were to add the $399 doc fee and IFS' $595 acquisition fee to your car's capitalized cost instead of paying them at lease signing, this car's monthly payment would increase to around $655.02.
Car_man
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Now sitting at
07 M35
MSRP 46660
Cap Cost 47993 including 2865 payoff on previous car
Doc Fee 285.00
Bank Fee 595.00
Residual 56%
$973.09 drive off including the first payment
15000 per year
Rate 2.926 = 893.09 for 36 months
I'm in So Cal and looking for a 36m 12k lease on an M35 sport with an MSRP of $48,500 with options. Can you let me know the current IFS MF and Residual for this deal? In addition, I have a couple of questions about determining the monthly payment. Is the residual value calculated from the MSRP or the negotiated selling price? Also, posts #885 & #892 refer to rates while most other posts refer to MF. How are these related? Finally, is it possible/preferable to finance the security deposit? Thanks.
residual is always based on MSRP.
Rate and money factor unfortunately seem to be used interchangably because not everyone understands the difference. A MF of .00211 is not a rate of 2.11%..it's actually about 5.06%. In leasing, the number that matters is the MF. Most of the time if you see a rate of 2.9, it means that the MF is .0029. Always make the dealer tell you the MF so there is no confusion.
A security deposit, if required, (or if you are making multiple security deposits to reduce the MF of the lease) is payable up front. And,it's returned to you at the end of the lease.
Then, if you want to reduce the total cost of the lease, use the "money down" to pay extra security deposits..this sounds strange but each extra security deposit lowers the finance rate by .0001 and you get the security deposit back at the end of the lease. You can loan infiniti up to 9 security deposits lowering your MF by .0009. This is a much better way to reduce costs.
Paying money down up front only allows you to think you are paying less each month..but when you add it all up, you didn't benefit at all from putting that money down.
Looking for 15K miles/year.
Why can't all dealers be like this?
MSRP = 51,360 as I want it configured. Thru VPP, I should be able to get it around 47,189 (before adding the destination charge of $700)
I’m looking to lease (the first one I will have ever done – have always bought my cars before) so I was hoping for some guidance.
I’m looking to compare 24, 36 and 48 month terms and am planning for 15K miles/yr (more than I drive). What are IFS money factor and residuals that I should expect from dealership this month? (seems like Lexus, MB, BMW are all aggressively promoting leases this month).
I live in Northern Virginia.
Being new to leasing, any other advice/opinions would be greatly appreciated. Thanks!
39 mo. lease with 12k miles/yr
Gross Cap Cost = $51,950
Adj. Cap Cost = $48,365
Residual Value = $28,572.50
Rent Charge = $135.04/mo
Monthly Lease Amount before Sales tax = $646.79/mo
$0 Down
$1,424.83 due at signing including first month's payment
Read back in this forum about multiple security deposits which will save you money on your lease. You can search for posts by me although others have commented on MSD as well.
comfortzone - that seems like a lot to pay when you pick up the car. The only things you should pay up front are the first month's lease payment, required taxes and title/registration charges. Any other "administrative fees", bank fees or such should be part of the lease calculation
I've never leased a car personally. Once my wife leased an Infiniti, but we turned it in after a year and bought one. At times when I've bought a car I looked at leasing, mostly because the dealer was pushing it (which immediately made me suspicious, LOL).
Financially it never made sense to me over buying the vehicle outright, and that was assuming I kept within the allowable number of miles which would be hard for me to do. Even with 2 cars and a Harley, I can't drive under 15,000 miles in a year.
To me it seems like leasing just gives you never ending payments and never having a dime of equity in the vehicle. Although admittedly almost all cars are rapidly depreciating assets anyway. I guess the attraction is being able to drive a new vehicle every couple years and to drive a better car than one can afford to buy.
Full disclosure, I normally keep my cars for at least 5 years. My current car is a 1995 Infiniti Q45a. I really like the M45 Sport, but my car looks and drives so damn well, I can't justify getting rid of it!
Just interested in the thoughts of others out there who regularly lease.
So if you get an 07 with Journey for 24 months with $3000, it will be about $400 for 24 months, 440 for $36 and $412 for 39 months. If you leave 9 sec deposits, your lease will go down by about $50 a month. If you add the MUST HAVE tech package, add another $35 a month. Then again, this is in LA, CA.
Car_man
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Here is the current lease program for the car that you are interested in. Infiniti Financial Services' buy rate lease money factor and residual value for a 24 month lease of a 2007 Infiniti M35X with 15,000 miles per year are .00143 and 66%, respectively. The numbers for an otherwise identical 36 month lease are .00201 and 55%. Lastly, the numbers for an otherwise identical 48 month lease are .00243 and 40%.
Let me know if you have any other questions.
Car_man
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