Infiniti M37 M56 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new car, poorprof. Thanks for taking the time to stop back and share the details of your deal with everyone. It's always very helpful for shoppers to see detailed real world examples of leases. Enjoy!

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi peteypauls. If you want to double check that this deal is really $500 over dealer invoice, you can look up this car's invoice price in the following section of this site: Edmunds.com - New Vehicle Pricing.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome evedder. You need to find out exactly how much this dealer is giving you for your BMW. This is a very important number to know, after all you wouldn't sell your BMW to someone off the street without knowing how much they were giving you for it. This is sort of the same thing.

    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.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello soonertime. I would be happy to share my thoughts on this deal with you. What is this car's full MSRP? This number will show me how much of a discount you are being given on it. For additional feedback on how much you should pay for this car, make sure to stop by the following discussion: "Infiniti M35/M45: Prices Paid & Buying Experience".

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi soonertime. Please post any questions that you have about the Infiniti FX35 in the following discussions: "Infiniti FX45 / FX35: Prices Paid & Buying Experience" or "Infiniti FX35 / FX45: Lease Questions". Thanks.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi evedder. The lease program that you were quoted for this car is different than Infiniti's new November lease program for it. Infiniti Financial Services' 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%.

    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.

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  • craigf14craigf14 Member Posts: 15
    Does anyone know the MF and Residual for a 36 and 42 and 48 month lease on the Infinity M-35. I stopped by Crest infinity in Dallas, Texas today and the salesman only wanted to talk monthly payments with me and would not give me the MF or Residual. I am alos looking at the BMW and they are offering a .0009 MF with a 60% Residual for 36 month. Thanks.
  • ghstudioghstudio Member Posts: 972
    If what you say is true, I suggest you call that Infiniti dealer, ask to speak to the owner/general manager, and tell them why you are never returning to their dealership. No one needs a salesman/dealer that won't give you the information you are asking for....
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello en2life. This particular discussion is for community members to discuss leasing the Infiniti M35. If you have specific questions about leasing a Lexus RX 350, please post them here: "Lexus RX 330 / RX 350 / RX 400h: Lease Questions". For information about the Infiniti FX, stop by here: "Infiniti FX35 / FX45: Lease Questions".

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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.
  • ghstudioghstudio Member Posts: 972
    slight correction to carman's post. Each additional deposit that you make will lower your car's MF by .00010 (not residual rate).
  • craigf14craigf14 Member Posts: 15
    Car_Man

    What MF and residual are you using on this lease? Thanks.
  • allnewallnew Member Posts: 3
    Does anyone have the lease rates (MF and residual) for November for the M35x (21, 24, 36 month with 12000 miles)??

    Any experience with dealers in the NY metro area?

    Thanks.
  • ghstudioghstudio Member Posts: 972
    my experience with NYC dealers in general is that they only talk about monthly payments and tell you that you have to put a lot of money down. They also like 8000 a year leases, those useless protection packages and dealer added "required" options. OK, I admit it, I never found a dealer that I trusted in NYC..I hope your experience is better.

    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.
  • miamixtmiamixt Member Posts: 600
    07 M35 Sport
    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?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, craigf14. Infiniti Financial Services' buy rate lease money factor and residual value for a 36 month lease of a base 2007 Infiniti M35 with 15,000 miles per year are .00211 and 56%, respectively. The numbers for an otherwise identical 42 month lease are .00248 and 51%, respectively. The numbers for an otherwise identical 48 month lease are .00249 and 41%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're absolutely correct, ghstudio. That's what I meant. Thanks for the correction. That's what I get, posting before finishing my first cup of coffee :P. Here's a corrected post.

    "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.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey craigf14. Please check post #886 for the information that you're looking for.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, allnew. Infiniti Financial Services' current buy rate lease money factor and residual value for a 21 month lease of a 2007 Infiniti M35X with 12,000 miles per year are .00137 and 71%. The numbers for an otherwise identical 24 month lease are .00143 and 66%. The 36 month numbers for this car are .00201 and 55%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi miamixt. $750 over invoice sounds like a reasonable price to me, however the fact that this dealer is trying to charge you a $399 "doc fee" really makes this car's selling price more like $1,149 over invoice...which you probably can beat if you are in an area that has a decent level of competition. You can always stop by the following discussion to see how much other community members have paid for similar cars lately if you want: "Infiniti M35/M45: Prices Paid & Buying Experience".

    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.

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  • allagarooallagaroo Member Posts: 88
    Is the doc. fee negotiable?
  • promgrpromgr Member Posts: 1
    Have a question on MF and Residual. Live in Mphs, TN and wanting to lease a M35 with advanced technology package, journey package. Using the VPP program, but concerned with the 2.926 lease factor. I have tier one credit and read in past reviews that the LF was .00211. Dealer explained that this was the rate at which they purchased the cars and they could not offer that rate. Can you shed some light on this?

    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
  • wantsacarwantsacar Member Posts: 1
    Great forum - thanks to all of you taking the time to help.

    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.
  • ghstudioghstudio Member Posts: 972
    wantsacar

    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.
  • guestguest Member Posts: 770
    For that car in So Cal, if you go with min drive off (0 cap reduction and no deposit,still have to pay license, title, etc., not including $600 bank fee) should cost you about $660 for 36 months and $630 for 39 months. If you max out your security deposits and pay 9 refundable sec deposits (about $5000), then your payment should drop to $590 and $565 respectively.
  • ct1211ct1211 Member Posts: 56
    Can anyone tell me if Infiniti offers lease pull ahead to a new model? I seem to recallmy salesman telling me I could get a new car after one year. I am currently 1/2 way through a 39 month lease on a 2006 M35. Thank!!
  • ct1211ct1211 Member Posts: 56
    Can anyone tell me if BMW offers lease pull ahead to a new model? I seem to recall my salesman telling me I could get a new car after one year. I am currently 2/3 way through a 36 month lease on a 2004 BMW 325i. Thank!!
  • b25mitchellb25mitchell Member Posts: 1
    I am in the process of inking a deal on a 07 M35 w/ Journey and Tech pkg. 39M lease w/ $1143 down, $632/mo incl tax, 15K mi/yr. I think I'm getting a pretty good deal. MSRP $46,700, getting for $43,300.
  • poorprofpoorprof Member Posts: 124
    a dealer in the valley has advertised the same car for $42,600 on their site. Check them out or email me (click on my name)for their site. Thats pretty close to invoice.
  • ghstudioghstudio Member Posts: 972
    Why are you paying $1143 down? Your best lease is to pay only the first month's lease payment plus title registration fee and required taxes when you walk out the door. There is no reason to pay any more.

    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.
  • dd323dd323 Member Posts: 1
    I am looking to lease a 07 M35 with the Journey and Advanced Technology Package, MSRP at 49,950. This will be my first lease and curious to how I can achieve the best rate possible, and also what a typical monthly rate will be.

    Looking for 15K miles/year.
  • poorprofpoorprof Member Posts: 124
    I leased my M35 at Miller Infiniti in Van Nuys, CA. I paid 9 sec. deposits to lower my lease rate. Their Internet manager gave me a great deal for a few hundred over invoice with no hassle. They had not done 9 sec deps before though. As it turns out, they made a mistake in claculating the lease. Instead of charging me 9 deposits at the pre-reduction rate, they charged me 9 deposits at post-rate reduction rates. They called me and explained the mistake and told me while they would pat IFS the difference, they wouod appreciate it if I would sign a new lease form with the correct figure. They messengered the document to my office so I didnt have to go down there. I offered to pay the $800 difference (it is refundable afterall) but they said it was their mistake and they would pay it.

    Why can't all dealers be like this?
  • gkazgkaz Member Posts: 18
    Ok, I think I’ve finally settled in on the M35x and have access to the VPP program (D Plan). I plan to lease this month.

    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!
  • comfortzonescomfortzones Member Posts: 37
    We have just been quoted about $900 above invoice ($48,365) for a 2007 M35x with Journey, Tech, Advanced Tech, Xenon AFS, Rear Deck Spoiler, Cargo Mat and Splash Guards. Can we negotiate lower? Are there any manufacturer-to-dealer incentives that we might not be aware of that could bring this deal lower?

    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
  • ghstudioghstudio Member Posts: 972
    gkaz and comfortzone

    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
  • gkazgkaz Member Posts: 18
    Thx ghstudio! This forum has been very helpful in that regard.
  • knowspinzoneknowspinzone Member Posts: 91
    I posed this question once before and received no responses. Maybe some new members have some insights.

    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.
  • irvsteroniirvsteroni Member Posts: 56
    I'm considering leasing a 2006 M35 which the dealer is advertising at $500.00 over invoice (M35, Journey Package, $37,900.00). The previous week the same dealer was advertising a lease of $399.00 a month, 24 mos. with $2,995.00 down. Anyone can help on what I can get lease wise? I'm looking for 15k a year, 24 mos. lease. I'm figuring I can get a killer deal now with the 07 models out. Thanks.
  • poorprofpoorprof Member Posts: 124
    You can get an 07 for about $500 over invoice in LA. As posters have indicated here, if you use the $3000 as sec. Dep., you should be able to reduce your interest rate by close to 1.5%.

    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi allagaroo. The answer to your question is yes...and no. Dealers may not waive their doc fees, but you can often get them to lower your vehicle's selling price by an equivalent amount. Doc fees are really not much more than a way for dealers to add additional profit to deals. Fees vary from dealer to dealer and they are usually printed on contracts to make them appear more official. I always advise consumers to ignore all of the little fees that dealers tack onto deals and to focus on the big picture, the total price that they are paying for the car or truck that they want. After all, it doesn't matter how your vehicle's final price was arrived at if it is the lowest out-the-door price that you have been quoted. Shop around and get out-the-door price quotes on the car that you want from a couple of dealers and go with the one that offers you the best overall deal, provided you feel comfortable with them.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi promgr. The fact that you can get your new Infiniti through the VPP program essentially assures you of getting a good selling price on it. The numbers that you have seen in the past in regards to this car's lease program are correct. Infiniti Financial Services' current 36 month, 15,000 mile per year buy rate lease money factor and residual value for the base 2007 M35 are .00211 and 56%. If you are being charge a rate that is any higher than this, the dealer is trying to mark your car's money factor up on you to add additional hidden back-end profit to your deal. The marking up of money factors is completely legal and happens all the time, but can usually be avoided by consumers who know what the buy rate is for the vehicle that they want and shop around.

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  • allagarooallagaroo Member Posts: 88
    Thank you Car_Man. Sound advice
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, wantsacar. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 M35 Sport with 12,000 miles per year are .00211 and 55%, respectively. Vehicles' residual values are based upon a percentage of their full MSRPs including destination charges and the MSRPs of any options that can be residualized. I believe that the people who referred to this car's "rates" were using the term interchangeably with the term "Money factor." There is a difference between lease rates and money factors though. Lease rates are expressed in terms of a percentage rather than the five digit decimal that money factors use. Most banks use lease rates to calculate vehicles' lease payments. I personally prefer to pay a security deposit rather than a higher monthly payment on my vehicles, but there's nothing wrong with having it waived.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ct1211, the salesperson who told you that you could get a new vehicle only a year into a 39 month lease was lying to you. Sure you can get a new vehicle, but it is likely going to cost you a lot of money to get out of your lease this far from its scheduled end date. Even manufacturers that offer early lease termination programs from time to time, I don't recall ever seeing Infiniti offer this sort of promotion, only usually waive up to three payments or so. Sorry that I don't have better news for you.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Ct1211, did you have the same salesperson for both your Infiniti and your BMW? I'm sort of kidding about that because it is highly unlikely. See my previous post for an answer to your question, but substitute the word "BMW" for "Infiniti." Sorry.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings dd323. The two most important numbers to pay attention to when leasing are your vehicle's selling price and the money factor that is being used to calculate its monthly payment. Always remember that the selling prices of leased vehicles are negotiable, just as if you were financing or paying cash for them. Shop around and negotiate the lowest possible selling price for the car that you want and then make sure to have the dealer that you are working with use your vehicle's "buy rate" lease money factor to calculate its lease payment. It is important to check that the dealer is using your vehicle's buy rate because dealers are often allowed to mark up banks' buy rates to add additional hidden back-end profit to deals. Infiniti's lease program for this car varies depending upon how long you lease it for. If you tell me how long a lease you want, I will be happy to give you an idea of what your vehicle's money factor should be like right now.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings gkaz. 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.

    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.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi comfortzones. Infiniti is providing its dealers with dealer cash to help them unload their remaining M35 models, but it is not currently providing any cash support on the 2007 model. $900 over invoice sounds like a reasonable price for this car to me. You can always stop by the following discussion to compare the price that you were quoted to the prices that others have gotten this car for if you want: "Infiniti M35/M45: Prices Paid & Buying Experience".

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello irvsteroni. $500 over invoice is not a very good price for a 2006 Infiniti M35. Infiniti is currently providing $2,500 dealer cash on this model. As a result, $500 over invoice is more like $3,000 over :surprise: , which isn't great for a leftover model that dealers are trying to unload. If I was in the market for this car, I personally would shoot for a price more like $2,000 under invoice. If you tell me what the full MSRP and approximate selling price are for the car that you are interested in I would be more than happy to give you an idea of what sort of lease payment to expect.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, allagaroo.

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  • gkazgkaz Member Posts: 18
    Thanks Car_man!
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