No problem, madrad. Here's the latest. Infiniti Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2008 Infiniti M45x with 15,000 miles per year are an amazingly low .00001 and 61%, respectively. The residual value for a lease with only 12,000 miles per year would be 1% higher.
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was driving by an infiniti dealer today, so thought I would try to negotiate a lease just to get some talking numbers.
Had F&I manager work a deal on a 2008 M35 with Technology and Advanced Technology. MSRP was $50,475. The MF was .00024, 24 mos/15K miles.
The capitalized cost I believe was $46,385 before the $2000 loyalty rebate was applied. With $681.00 out of pocket, the monthly payment was $636+tax. The F&I manager said this was an $800 deal net net....holdback, doc fee, everything accounted for.
I said "No thanks." I figured I would like to be at $560+ tax with $600 OOP.
By the way, is it just me or is $2800 MSRP for the Advanced Technology package seem like a lot of money. I want the upgraded 14 speaker audio system, but $2800, redidualized or not, seems like a lot of cheese. The rest of the features in the package sure don't mean a whole lot to me. Any thoughts?
Drop the advanced tech package and pay two multiple security deposits ($1300) which you will get back at the end of the lease. The MF will drop to .00004.
Multiple Security Deposits are only a waste of capital if you can make more with the money than you save by making the security deposits. I can't count on making more than 4% these days on an investment or CD...but using that money to make MSD's I save more than 10% on those $'s....eg. if I put $1300 in the bank, then at the end of the first year I've earned $52 interest. Putting the same money into MSD's saves me about $14 a month or $168 the first year because of lower interest payments. (those are real numbers BTW). So I'm earning almost 13% on that $1300 (or saving 13%)...which I think is a very very good way to invest capital.
However, you may be able to reliably earn more than13% on your capital....I know few who can using stocks/bonds/mutual funds. Note..I said reliably.
I suggest that you actually work out the numbers before you say...oh it's so small a difference it's not worth it. Run the numbers before you make broad statements like "waste of capital"..oh, and do remember that you get that $1300 back at the end of the lease.
I wanted to do a follow up since I leased my 2008. I signed a black / stone 2008 Tech A with mudflaps, rear trunk mat and Xenon lights for $538 a month , taxes in. Only cost at close was bank, DMV, tire fee, and first month.
I went with Competition in Long Island. They originally were supposed to get me a black with wheat interior. When they realized they could not, they made good and got a black with stone (Xenon, mud flaps, and rear trunk) came with this model so they went through it in. They drove it out to my house in Westchester so this all worked out.
It is an M35X by the way. I hope this helps everyone out there. Every else on this forum did help me. 39 months too.
too many unknowns. What's the term of the lease? what is the money factor they are using? what is the residual % they are using? give us the prices without taxes. The least important fact is the monthly payment because if the other pieces are right, then it is what it is. Also...what is the capitalized cost of the car...it should be pretty close to invoice less $1000 (conquest cash applied to reduce the capitalized cost).
I can tell you right now that you should not be paying $1700 down....pay the first month's lease plus registration when you pick up the car...no bank fee, no administrative fee, no nothing else except REQUIRED taxes....everything else gets rolled into the lease. what you should do is take that $1700 and make two extra security deposits which will lower the MF to .00004 which is effectively no interest. Your payments will go up but the total cost of the lease will be less because you aren't paying that $1700 up front. (you get the security deposits back at the end of the lease...it's a loan). You can either trust me on this or read back thru this forum where I've explained it ad nauseum.
Term: 24 month / 12K per year Money Factor: .000480 Redidual Value: $32,361.60 MSRP: $50,565 Cost: $600 per month with $1700 down (includes conquest rebate of $1000) and first payment. Without taxes of 7% NJ ($558). Near Princeton area Options: Tech Package, Xenon, Rear spoiler, Trunk mat and splash guard
I have the additional payment upfront - it reduces the rate. I will investigate.
Looks like a great deal. It looks like they are selling you the car at invoice, deducting another $1000 from that using the conquest money and not charging you any dealer administrative costs. I would probably ask them to recalculate the lease with you only paying the first month's payments, registration costs and any tax. This would raise your payments a little, but you would also give them less up front.
But here's what I really would do to sweeten this deal more. I would use multiple security deposits and loan infiniti four monthly payments as additional security deposits which would bring the MF down to .00008 and that would bring my payments down by about $30 a month. Think about that....I take $2400 out of the bank and loan it to Infiniti. I pay $30 less a month for 24 months. Each month I put that $30 savings in the bank...so over the 24 months, I have put $720 in that bank account. At the end of the lease, infiniti gives me back the $2400 (it was a security deposit) and I put that in the bank. I now have $3120 in cash. Sure...I could have just left the $2400 in the bank and it would have earned 4% interest, but at the end of the two years I would only have $2595 cash. This assumes that you have $2400 that you can loan for 2 years, of course.
The 24 mo rates may lead to a cheaper lease than the 36 month rate.
If you wait until July you run the risk of losing the $1000 conquest money...no one knows if it will be extended...and also no one knows if the residual will drop or mf will go up.
Just look for my old posts on Multiple security deposits....you'll find more than you wanted to know. Just remember, you can't lower the mf below 0.
And just to complicate things further. the 2008's are bargains now. When the 2009's come out, they will have normal money factors and residuals which nets out to costing probably $100 plus more per month for them.....at least for the first few months. Of course if the 2009's have the larger engines and 7 speed, maybe you are willing to pay $100 plus more per month. I wasn't....I leased a 2008 M35.
I leased a 2006 M35 journey/tech car for no money down $620 +tax. The 2008 cars right now even with the $2000 rebate are still the same deal. What makes you think that Nissan Motor Corp. will allow the 2009s to sell for $720 + tax?? Sorry, they will be incentivised too. The M35 has been established as a $600/mo. lease car. Any higher and we are into Mercedes/BMW/Lexus territory and Infiniti has already proven over the years it can't run that race. Face it, Infiniti sells on price.
A reporter from a large finance magazine is looking to speak to consumers who just purchased a new Infiniti M35. If you’re interested in speaking to the reporter, please contact Chintan Talati at ctalati@edmunds.com with your daytime contact information no later than June 23, 2008.
What's all that gorp in the first month....assignment fee? doc fee? Those should be rolled into the lease...or just negotiated away since they are pure proft to the dealer.
Also, consider making Multiple Security deposits to bring the MF down to 0001 and save some more money.
I have not completed my deal yet: Your deal sounds fair. I have not signed my deal yet...as the dealers keep on indicating the color I want will be a couple of dollars extra.
Your deal looks similar, i.e. right about invoice plus an additional $1K with the conquest. From what I've seen on this site, that seems about as good as it gets, give or take a few hundred. What is the cap cost on your deal?
Had F&I manager work a deal on a 2008 M35 with Technology and Advanced Technology. MSRP was $50,475. The MF was .00024, 24 mos/15K miles.
The capitalized cost I believe was $46,385 before the $2000 loyalty rebate was applied. With $681.00 out of pocket, the monthly payment was $636+tax. The F&I manager said this was an $800 deal net net....holdback, doc fee, everything accounted for.
I said "No thanks." I figured I would like to be at $560+ tax with $600 OOP.
By the way, is it just me or is $2800 MSRP for the Advanced Technology package seem like a lot of money. I want the upgraded 14 speaker audio system, but $2800, redidualized or not, seems like a lot of cheese. The rest of the features in the package sure don't mean a whole lot to me. Any thoughts?
Another dealership just countered with $614 + tax ($658) with 1st pmt only down, 24 months, 15,000 miles, M35 Tech and Advanced Tech. I guess the $800 net net deal just became $250.
When I worked with Nissan, we used to receive additional retro money---i.e. $500 per unit sold in the month if we hit our objective number. Are Infiniti dealers bonused in the same fashion for hitting their monthly stated objectives. If so, what is the typical retroactive kickback dollar amount per unit delivered?
On both leases the selling price is $52,342, and with the $1,000 conquest rebate is really $51,342. We can pass the rebate along to you as long as you provide a current registration of a competitive vehicle. I understand that you did not want to put any money down, but your really not. The $1,075.44 is a total out of pocket expense which includes your first mo. payment and your registration fee's.
All leases based on Tier 0,1 interest rates (W.A.C.)
Well, I pick up my new M45x tomorrow...more details later, but my 24 month, 12K lease deal has MF of .00001 with residual I think of 62%. So "money factor" seems off by factor of 40 !
But these finance people try to pull a fast one all the time...another dealer offered .00085 until I reminded him of the .00001 rate which I learned about here from the great moderator of this forum. He then says, Oh, yes, I went to my manager and we can give you that rate...
Someone posted that the 09 will have a 7 speed tranny and a bigger engine. Where did the info come from? I called CA and thety did nort know anything. i would like to know about the 09 b4 I buy and 08 this month to get the 2K in loyalty and deal $.
yes, I have also heard that info, but no official confirmation. If you are leasing, that $1000/2000 means a much lower monthly cost....and it more than covers the expected difference in the new vs the old engine/transmission MPG. If you are purchasing, that $1000/2000 is still going to help cover the cost of any additional gas...and it's likely you can buy the 08 at or close to invoice less that $1000/2000. .
I paid attention to your comments 24 vs 36 month lease and multiple security deposits and $1000 conquest credit. Got an M45 with advanced tech for 719 month plus tax on 24 month lease with 3 msd of 750 each. The 24 month lease was about 50-60 more per month but thats not bad and there will lots of changes over next two years to look forward to. Money factor was .0001 for the 24 month lease after MSD.
Funny that the dealer was not aware of the msd and I insisted that they call Infiniti Finance to find out. Also got dealer to waive "nonwaivable" dealer prep or whatever fee of 595 and bank fee of 595. Never pay these fees.
Total down was first month rent and normal title fees.
The 09M will be out in october or early november like last year. I heard from some car website which I don't remember at the time, say that the 09 FX50 engine and transmission will be going into the 09M45 which will produce 390Hp and 367lb feet torque. No dealer has any info yet. I called infiniti consumer affairs to ask about if this were true and the person told me they had not heard it out of infiniti's mouth so they did not want to start any rumors that are not true. But the M is suppose to be remodeled for 2010 and there are talks that the Q45 is to be back in febuary 09 its on edmunds website for future car remakes and updates.
I am looking into leasing a 2008 M35X Tech, Xenon, Splash guards, 15K. What are the correct rates and where can I plug them in to get the lease payment. I do not trust the dealers math.
my opinion is that they are not good at all....something wrong with the capitized cost and too much down payment.
You should be able to buy that car for invoice less $1000 (or $2000) conquest money. You should not be putting anything down at all...just the first month's lease payment plus the $378. If you want to use the rest of that $1500, buy down the MF with multiple security deposits (if you are in a state that allows them).
Note...there can be some confusion on the conquest cash. You actually negotiate the deal for invoice price and then Infiniti/your dealer should apply the conquest cash as a "capital cost reduction". The way they do it, you will owe taxes on the $1000/$2000....nothing you can do about that.
MSRP on your car is 46315 (includes shipping) and invoice is 42530....so your capitalized cost should be 41530 + 595 (bank fee) + any dealer admin fee that you can't talk your way out of (I think that's your $495). Your capitalized cost seems much too high.
You don't give the residuals but you should make sure they are using Infiniti's numbers.
hey thanks for your reply. It looks like your msrp and invoice numbers are off - you left off the tech package. Edmunds.com tmv says invoice for m35 sport tech is 45417 and msrp is 49665? With these numbers invoice - conquest gives me 44417 (dealer quoted 44800) Thanks
Here you go, finadv. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 M35X with 10,000 miles per year are .00150 and 62%, respectively.
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Here's the info that you're looking for, bernster. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 Infiniti M45 2WD with 12,000 miles per year are .00087 and 52%, respectively. The numbers for an otherwise identical 39 month lease are .00089 and 51%. It is difficult to say whether the July program for this car will be better than its June program.
The last time that I looked into it, IFS allowed lessees to make up to nine additional security deposits, with each additional one reducing vehicles' money factors by .00010.
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I find the multiple security deposit strategy interesting. Is each security deposit a minimum of $750. And you are guaranteed to get this money back at the end of the lease if the car is returned in excellent shape?
each security deposit is your calculated monthly payment (without taxes) rounded up to the next $50....so if your lease is $535 a month, then each MS is $550.
It is like any other security deposit. You get it back less whatever you owe on the car due to damage. In my case, returning the car last week with no damage, I will get the entire security deposit back.
Looking at 36 month lease on M35X with MSRP about 50,000.....need 15k miles per year. What would be a fair monthly price with tax (7%)? ok with "normal" upfronts....just don't want any cap cost reduction...thanks? Have 5 payments left on BMW ... about $3,000...but am thinking that with low infiniti deals right now, working that $100 into lease might still not be too bad...paying $612 for BMW now and would like to be in same area??? thanks...in NJ.
I would appreciate any info / thoughts on the following. I have a 2006 m35x lease that expires at the end of July 2008. I am thinking of getting another m35x.
Could someone please let me know the mf and residual for this vehicle for 24 and 39 months with 12,000 miles / year. What would change if I only wanted 10k miles / year?
Also - does anyone have any thoughts about the likely extension $2000.00 loyalty money? I could take delivery asap if I really need to do deal by July 7 to get the money but am hearing from dealers that there are lots of 2008's out there so am finding it hard to believe that Infiniti will effectively take the price up.
Hi jeff721. Infiniti's lease program for this car varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Through July 7th, Infiniti Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2008 Infiniti M35X with 15,000 miles per year are .00070 and 51%, respectively.
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You're very welcome, finadv. Thanks for taking the time to stop back and let us all know how everything turned out. Make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride and have a great 4th of July :shades: .
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Hey Jeff. I just provided you with the 36 month numbers. Through 7/7, IFS' 39 month, 15k numbers for the '08 M35X are .00091 and 50%. I don't believe that IFS publishes residual values for leases with 18,000 miles per year. If you need to drive that much, you will probably have to purchase additional miles on a per-mile basis. It is much 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.
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Do you also have the June lease rates for an M35X, 36 months and 10K miles?
Thanks!!
What is the invoice on a fully loaded 08 M45 RWD with premium package.
Had F&I manager work a deal on a 2008 M35 with Technology and Advanced Technology. MSRP was $50,475. The MF was .00024, 24 mos/15K miles.
The capitalized cost I believe was $46,385 before the $2000 loyalty rebate was applied. With $681.00 out of pocket, the monthly payment was $636+tax. The F&I manager said this was an $800 deal net net....holdback, doc fee, everything accounted for.
I said "No thanks." I figured I would like to be at $560+ tax with $600 OOP.
By the way, is it just me or is $2800 MSRP for the Advanced Technology package seem like a lot of money. I want the upgraded 14 speaker audio system, but $2800, redidualized or not, seems like a lot of cheese. The rest of the features in the package sure don't mean a whole lot to me. Any thoughts?
Multiple security deposits is a waste of capital.
However, you may be able to reliably earn more than13% on your capital....I know few who can using stocks/bonds/mutual funds. Note..I said reliably.
I suggest that you actually work out the numbers before you say...oh it's so small a difference it's not worth it. Run the numbers before you make broad statements like "waste of capital"..oh, and do remember that you get that $1300 back at the end of the lease.
I went with Competition in Long Island. They originally were supposed to get me a black with wheat interior. When they realized they could not, they made good and got a black with stone (Xenon, mud flaps, and rear trunk) came with this model so they went through it in. They drove it out to my house in Westchester so this all worked out.
It is an M35X by the way. I hope this helps everyone out there. Every else on this forum did help me. 39 months too.
M35X with Tech Package, Xenon, Rear spoiler, Trunk mat and splash guard
$600 per month including Tax with $1700 down for 2 yrs / 12K.
Thx - If possible please reply ASAP.. as I need to make a decision by tuesday.
I can tell you right now that you should not be paying $1700 down....pay the first month's lease plus registration when you pick up the car...no bank fee, no administrative fee, no nothing else except REQUIRED taxes....everything else gets rolled into the lease. what you should do is take that $1700 and make two extra security deposits which will lower the MF to .00004 which is effectively no interest. Your payments will go up but the total cost of the lease will be less because you aren't paying that $1700 up front. (you get the security deposits back at the end of the lease...it's a loan). You can either trust me on this or read back thru this forum where I've explained it ad nauseum.
Term: 24 month / 12K per year
Money Factor: .000480
Redidual Value: $32,361.60
MSRP: $50,565
Cost: $600 per month with $1700 down (includes conquest rebate of $1000) and first payment. Without taxes of 7% NJ ($558). Near Princeton area
Options: Tech Package, Xenon, Rear spoiler, Trunk mat and splash guard
I have the additional payment upfront - it reduces the rate. I will investigate.
But here's what I really would do to sweeten this deal more. I would use multiple security deposits and loan infiniti four monthly payments as additional security deposits which would bring the MF down to .00008 and that would bring my payments down by about $30 a month. Think about that....I take $2400 out of the bank and loan it to Infiniti. I pay $30 less a month for 24 months. Each month I put that $30 savings in the bank...so over the 24 months, I have put $720 in that bank account. At the end of the lease, infiniti gives me back the $2400 (it was a security deposit) and I put that in the bank. I now have $3120 in cash. Sure...I could have just left the $2400 in the bank and it would have earned 4% interest, but at the end of the two years I would only have $2595 cash. This assumes that you have $2400 that you can loan for 2 years, of course.
Am I better off waiting to July to buy. My current lease on a STS is over in mid July. Are they extending the $ 1,000 credit to July?
How will multiple deposits affect payments for this vehicle?
If you wait until July you run the risk of losing the $1000 conquest money...no one knows if it will be extended...and also no one knows if the residual will drop or mf will go up.
Just look for my old posts on Multiple security deposits....you'll find more than you wanted to know. Just remember, you can't lower the mf below 0.
And just to complicate things further. the 2008's are bargains now. When the 2009's come out, they will have normal money factors and residuals which nets out to costing probably $100 plus more per month for them.....at least for the first few months. Of course if the 2009's have the larger engines and 7 speed, maybe you are willing to pay $100 plus more per month. I wasn't....I leased a 2008 M35.
Any higher and we are into Mercedes/BMW/Lexus territory and Infiniti has already proven over the years it can't run that race. Face it, Infiniti sells on price.
M35X, Tech, Xenons, mats and winter mats
MSRP $50,065
Cap Cost $44,709 ( includes $1,000 conquest)
MF .00070
Residual 53%
36 mos, 10K
$585/mo (includes 5% state tax)
Out of pocket for first month, reg, doc fee, assignment fee, etc. $1,589
Any thoughts?
Thanks!!
Also, consider making Multiple Security deposits to bring the MF down to 0001 and save some more money.
The capitalized cost I believe was $46,385 before the $2000 loyalty rebate was applied. With $681.00 out of pocket, the monthly payment was $636+tax. The F&I manager said this was an $800 deal net net....holdback, doc fee, everything accounted for.
I said "No thanks." I figured I would like to be at $560+ tax with $600 OOP.
By the way, is it just me or is $2800 MSRP for the Advanced Technology package seem like a lot of money. I want the upgraded 14 speaker audio system, but $2800, redidualized or not, seems like a lot of cheese. The rest of the features in the package sure don't mean a whole lot to me. Any thoughts?
Another dealership just countered with $614 + tax ($658) with 1st pmt only down, 24 months, 15,000 miles, M35 Tech and Advanced Tech. I guess the $800 net net deal just became $250.
When I worked with Nissan, we used to receive additional retro money---i.e. $500 per unit sold in the month if we hit our objective number. Are Infiniti dealers bonused in the same fashion for hitting their monthly stated objectives. If so, what is the typical retroactive kickback dollar amount per unit delivered?
2008 M45 with Advanced Tech. The vehicle has a MSRP of $56,475 and an Invoice of $51,542.
24mo./12k lease: 1@1075.44 23@789.24 including tax
Money factor- .00040
Residual- .63%
39mo./12k lease: 1@1012.32 38@725.80 including tax
Money factor- .00089
Residual- .51%
On both leases the selling price is $52,342, and with the $1,000 conquest rebate is really $51,342. We can pass the rebate along to you as long as you provide a current registration of a competitive vehicle. I understand that you did not want to put any money down, but your really not. The $1,075.44 is a total out of pocket expense which includes your first mo. payment and your registration fee's.
All leases based on Tier 0,1 interest rates (W.A.C.)
But these finance people try to pull a fast one all the time...another dealer offered .00085 until I reminded him of the .00001 rate which I learned about here from the great moderator of this forum. He then says, Oh, yes, I went to my manager and we can give you that rate...
Needless to say, I bought elsewhere.
for an M35X, Tech and Xenons, w/Splash
Thanks!
thanks
I haven't heard when the 09's are coming.....
2008 M35X 36 months, 10K
MSRP $50,065
Invoice $45,809
Cap Cost $44,709 (Includes $1,000 Conquest)
MF .0007
Six MSDs
New MF .0001
$554/mo (inc tax)
Thanks to all on this great site.
ghstudio for MSD idea
Car_man for getting the rates and helping keep the dealer honest
Funny that the dealer was not aware of the msd and I insisted that they call Infiniti Finance to find out. Also got dealer to waive "nonwaivable" dealer prep or whatever fee of 595 and bank fee of 595. Never pay these fees.
Total down was first month rent and normal title fees.
What are the correct rates and where can I plug them in to get the lease payment. I do not trust the dealers math.
Thanks,
08 m35 sport with tech (nav) 45500 invoice sales price 44800 (including 1000 conquest)
39 mo 12 K/y
1500 down includes 1st payment tax title and tag (378.50)
628 per month
fees bank 595 doc 495
mf 0.0012
24 mo 12 K/y
1500 down includes 1st payment tax title and tag (378.50)
670 per month
fees bank 595 doc 495
mf 0.00024
Thanks
You should be able to buy that car for invoice less $1000 (or $2000) conquest money. You should not be putting anything down at all...just the first month's lease payment plus the $378. If you want to use the rest of that $1500, buy down the MF with multiple security deposits (if you are in a state that allows them).
Note...there can be some confusion on the conquest cash. You actually negotiate the deal for invoice price and then Infiniti/your dealer should apply the conquest cash as a "capital cost reduction". The way they do it, you will owe taxes on the $1000/$2000....nothing you can do about that.
MSRP on your car is 46315 (includes shipping) and invoice is 42530....so your capitalized cost should be 41530 + 595 (bank fee) + any dealer admin fee that you can't talk your way out of (I think that's your $495). Your capitalized cost seems much too high.
You don't give the residuals but you should make sure they are using Infiniti's numbers.
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The last time that I looked into it, IFS allowed lessees to make up to nine additional security deposits, with each additional one reducing vehicles' money factors by .00010.
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It is like any other security deposit. You get it back less whatever you owe on the car due to damage. In my case, returning the car last week with no damage, I will get the entire security deposit back.
It is just like any other security deposit..if you don't do any damage, you get it back.
I would appreciate any info / thoughts on the following. I have a 2006 m35x lease that expires at the end of July 2008. I am thinking of getting another m35x.
Could someone please let me know the mf and residual for this vehicle for 24 and 39 months with 12,000 miles / year. What would change if I only wanted 10k miles / year?
Also - does anyone have any thoughts about the likely extension $2000.00 loyalty money? I could take delivery asap if I really need to do deal by July 7 to get the money but am hearing from dealers that there are lots of 2008's out there so am finding it hard to believe that Infiniti will effectively take the price up.
Thanks for the help.
Larry
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