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M35 with sport and tech. package
24 month lease - residual, money factor
39 month lease - residual, money factor
Also please let me know what fees there are if any , bank, etc for a lease.
Thanks. :confuse:
They are quoting 39 mos / 10K miles/yr at 49% resid and MF of .00124. How does that compare with anyone else right now?
M35 with sport/tech, 39months, 12k, residual 48%, MF .00104
My opinion is that this residual was too low for 12k miles. MF seems ok, any thoughts
I take these and then work backwards from my selling price to arrive at my monthly payment. Also what are the bank fees thru Infinity?
If you were to lease this car through IFS, at lease signing you would have to pay your first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, IFS' $595 acquisition fee, and any required state taxes or fees.
Car_man
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I was speaking with a local infiniti dealership in CT and he told me the 24 mos lease at 47k and change for a 50,800 car, now has a residual of 56% and the payment would be $857/mo with 1680 out of pocket, 12k miles. I have more details about the money factor at work, but it was low.
The best deal they had going was 39 mos at 1600 out of pocket 644 mo, these numbers included tax at 6%. I have the D plan and it seems like we are slightly above invoice but I'm not sure if he took the $2k cash if it's still available on leases.
The best deal was a 6k rebate on the car with my own financing which would be 4.25%. Any insight. The lease rates seemed high as he quoted Tier 1 for credit.
The car was an M35x with tech and xenon headlights.
First, with Plan D, you should be able to buy this car about $300 over invoice. Then, if you are a current Infiniti owner, you should subtract another $2K from that price to get the capitalized cost (and then you add in the administrative costs and the origination fee to this to get the total amount you are capitalizing).
The $2000 "loyalty money" is in addition to your Plan D....and that's pretty clear in the dealer explanation. However, you should be able to buy this car for invoice price even without plan D...so you might do better (as I did) forgetting the plan D (which is what I did, by the way). I paid invoice less $2000 for an M35. You should be able to get the same deal...forgetting plan D.
The second problem is that your out of pocket should be only your first months lease payment plus registration fees plus any taxes required by law....nothing else. That does not add up to anywhere near $1650.
So let me net this out....either find another dealer or walk into the sales managers office and tell him that you are serious buyer and you dont' want to be jerked around by sales droids.....and the first deal was almost insulting.
Thanks!
Also post each dealer's MSRP, "selling price", and the money factors and residuals they are using for each lease term. We'll get to the bottom of this.
Too bad you are in NY where you can't use multiple security deposits to reduce the money factor...
Leases have 2k in rebates if you are an IFS customer, unfortunatley I'm not one of those.
Good luck!
As far as leasing used vehicles goes, many manufacturers do lease Certified Pre-Owned vehicles. However their lease programs for used vehicles often lack the support that their new vehicle leases have. As a result, used vehicle leases often cost the same as, or are even more expensive than leases of similar new vehicles.
Car_man
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The TMV for the car has gone down to $42,346 after Sept 3rd from $44,782 (I think because of a $6,000 cash to dealer incentive?). Here is my question:
If the MSRP is $50,085 for the vehicle and the dealer is leasing it to me for $46,500 “capitalized cost” Am I getting a fair deal???
The monthly payment will be $704 for a 39 month lease/12,000 miles per yr with only 1st payment and fees (total of approximately $760 down).
Thank you so much for your help!
I think the best you can do...and what you should strive for is to buy the car at edmunds invoice price. The dealer will still make money, don't worry about them. So your capitalized cost should be invoice plus bank fee plus any administrative fee you can't negotiate away.
The only thing you should pay for the first payment is the first month's lease plus registration costs plus any taxes that are required by law....nothing else.
$704 still sounds high for that lease(does that include tax). Ask the dealer what money factor and residual they are using? Also ask them to tell you what it would cost if you only leased for 24 months...and get the money factor and residual for that.
Let us know what happens.
My accountant suggested to lease the vehicle as I am self employed and the entire amount could be written off monthly - that's why I am giving up on the $6000 off the purchase of the M35.
The $704/month does include all taxes (8.75% (ouch!) - erie county in new york state ) & bank fee ($595.00) that I rolled into the lease.
The rate is 1.160 (that doesn't make sense to me) according to the paperwork he sent me and the residual is 50% or $24,512.50
Now does this sound like a good deal or am i getting screwed? :confuse:
Look forward to your repsonse
Lease Price - $45,278 or Purchase $39278 w/6000 rebate cash deal
1600 Out of Pocket
6% Tax
12k Miles
39 mos
48% residual
$597/mo
Should tax be factored in before or after rebate is deducted? Ghstudio, I'm leaning toward buying this one, because it looks like a great deal...what do you think?
Why the 1600 down?. you can do it, but your real monthly lease price is really 1600/39 or $41 more ...so $648/mo vs over $700 for the other deal.
I'll find out what the real residual and MF are tomorrow and we'll get both of you straight.
Taxes are almost always before rebates however the $6000 marketing money goes to the dealer, not you, so, at least in theory, that should not be taxable....it just allows the dealer to reduce the selling price to you.
For leasing: In most states you only pay taxes on your payments so it doesn't matter how the rebates or marketing money are handled....you only care about what you pay and taxes aren't added in to the msrp or capitalized cost calculations.
For example, in the recent $2000 rebate for infiniti owners, I had to sign a form assigning that $2000 to the dealer...and had I been buying the car, that $2000 would have been deducted after the taxes. In a lease, it doesn't matter in most states since you only pay tax on your payments.
Residual
Money factor 15K 12K 10K
24 mos .00001 53% 54% 55%
36 mos .00002 46% 47% 48%
39 mos .00002 45% 46% 47%
42 mos .00002 43% 44% 45%
with these rates, you can basically ignore the finance charge. There is no rebate or marketing money available unless you are a previous infiniti owner and then you are eligible for $2000 off your capitalized cost on a lease.
Now you are ready to negotiate buying the car for invoice or very close...have a go at negotiating the "administrative fee" away...and then make sure they are using these rates. Remember the dealer gets holdback money and any administrative fee is really just profit, so there is still profit for them in the deal.
Note: IFS rates are effective nationally. Some dealers will tell you that their local rates are higher and the reason that they are, which of course they they don't tell you, is that the dealer is marking them up. Don't fall for that stuff.
Hope this helps
I'm leaning toward buying and controlling my own destiny because of the 6k rebate. The car is already priced under invoice by $350, every other dealer I spoke with wouldn't come close to this deal...any other comments you have on trying to get an even better deal would be greatly appreciated.
Thanks!
I won't answer the buy vs lease question. That's up to you and your personal circumstances.
I really appreciate your wealth of information and now feel like I'm not going in blind to the dealer. I'll let you know how I make out!
If it is a .00002 money factor top tier, what should the lease payment be for a purchase price of $45244 car ($50,835 msrp) 39mos, 12k, 6% tax in may state
If the numbers for the lease change somewhat, I may change my decision.
The extremely low money factor means that your interest is only about $1.40 per payment. The rest is just paying the difference between the capitalized cost and the residual cost divided by the number of months.
Thanks for posting all of the great info. Do you know the IFS official rates for this month on the 08 M35?
I just noticed yesterday the TMV for the M35x with MSRP of $50,885 and invoice of $46,530 has gone up dramatically to $48,127 - what's the rational?? :confuse:
The only approach I use now is to first try to negotiate but if that fails, I just tell the dealer what I'm willing to pay...and then tell them to call me if they're interested as I head towards the door. Usually I get a call within a day or two.
Oops One more question (of course).....Is it worth while to wait until the end of the month?? or Is Sept to buy an 2008 late enough??
The deal they are offering is $4,500 down, 12K , $515.81 a month
RESIDUAL $24,400
RATE 2%
I am in Massachusetts. Should I jump into the fire??
Infiniti's money factor this month is .00002...that's not 2%, it's closer to 0 percent. Also the residual you show is 48% of the MSRP but there is no infiniti lease that has a 48% residual, so one has to wonder about this lease deal. See post 1655 for the actual infiniti rates this month (and they are national rates).
You shouldn't put any money down....in fact you should sit down and read most of this forum before you jump in and lease. There's lots of information if you just take the time to read thru it.
I did a quick calculation based on a 36 month lease using Infiniti's real numbers, a presumed negotiated price about $1000 over invoice and your large down payment and the payment seems right (without taxes). But the fact that the dealer is using different MF and residuals really bothers me alot.
(We kind of did not make the best choices when leasing initially...First time leasor!)
Once we called the dealership, they kind of gave us the run around on the final fee, then told us it would be $25,500, with a doc fee of $150, a $400 late fee for late lease return (which contract is not officially up until the 28th)...not sure where this comes from.
I called more than twice to confirm the date we had to have back.
Any thoughts as to if this seems fair?
Not sure what all info you need.
Also are there any other incentives for lease purchase?
How about any deals on finance rates?
Thank you -
I need help on this one. The car thing is stumping me this time!
Chantelle
I don't know of any other deals on lease purchase or on finance rates.
Car_man
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Now I'm slightly confused - ghstudio had the MF from IFS on all leases over 2 years was 0.00002 - I am going to the dealer this weekend to negotiate a lease. What are your figures for a 2008 M35 lease for 39 mos. and 12,000 miles per year as far as residual and MF. Also what is your favorite lease payment calculator? I am having many different results from different sites.
Thanks
Stu
I leased an M45 which is due for maturity in October and here are my experiences:
1. Infiniti charges the late fees after either 1 week or 10 days after the maturity date. That is the grace period they allow.
2. If you call IFS (Infiniti Fin. Serv.), the CSR/supervisor has the authority to extend the lease by at least 3 months, up to 6 months.
3. If possible, could you please forward the e-mail that you have received from Infiniti regarding the discount they are offering. I could possibly use that e-mail to negotiate the purchase mine. My e-mail is septcar@gmail.com
Thanks
The lease price is $45,342, the MSRP is $50,835. The MF for 39 months is .0038 and the residual is 48%. Taxes and all are included and with the $4,500 I was going to put down, the payment was $515.85. Sound funky to you??