I am about to pull the trigger on a lease of an EX35 AWD Journey with Premium, Navigation, Technology, Splash Guards, Roof Rails and Cross Rails, Luxe Style Pkg., Cargo Protector (no wood). The MSRP is $45875. The cap cost is $41354. The lease is a 12,000 mi, 39 month lease w/ residual value of 49% and a money factor of .00001. This cap cost is $400 below invoice. Do you think they're giving me the best possible deal?
I leased a 2008 Infiniti Journey EX35 - full loaded back in September for 39 months. I am VERY unhappy with this car (having had a BMW 3 series previously but was impressed by the design of the EX and the lease price vis-a-vis the X3) and would like some advice on how to break or sell this lease. Can I list this car on lease trader? Does anyone know the actual cost of turning in the car early?
Every leasing company has their own guidelines regarding the assumability of a lease. Your best bet is to call IFS directly (or whomever holds your lease) and get something in writing from them.
The most important thing is to see if you are completely released from liability is you let someone assume the lease. I've done Leasetrade with a Wells Fargo lease and it was a huge pain. I had Wells send me the application and I would forward it to the potential borrowers so I could control how/when everything happened. Most people never filled out the application or sent it back. The people that did send them back often had very bad credit or they would have leased directly from a dealer! If I had it to do all over again, I would have just paid out the lease on our car and been done with it. Your mileage may vary but that was my experience.
If the bank does not release you from liability DO NOT let someone assume the lease. If they stop paying you either have to make the payments yourself or your credit will be destroyed as if you still own the lease (which you actually still do!).
Hope that helps. My feeling is to tough it out through lease end or see if you can do a trade.
Out of curiousity - what are the things about the car that you don't like? We're still considering and haven't really gotten much negative feedback other than size & mileage so I'm curious about your experience.
Well, I looked at the same car, and got the same lease offer and my conclusion was that the EX is an entry level luxury crossover and for a 39,000 price a 36 month lease with taxes folded in (lowest money down) should be about $400 per month. Therefore, $529/month is a very bad deal.
After researching the lease deals of nearly every so called luxury car dealer, and dealers of ordinary cars like Hondas and Jeeps, I have come to the conclusion that "luxury" dealers set the lease price based solely on "what they can get" or what the perception of the car is and how strong their sales are, and the more confident they feel in their ease of sales, the higher the lease price. In other words it has little to do with MSRP vrs invoice or lease factor or residual. Infiniti sells all their cars easily, it is a super popular highly successful brand and they charge a premium for their leases. BMW and Land Rover and Lexus and Audi are exactly the same; they all have terrible lease deals.
Ironically, other average brands like Jeep, also have terrible lease deals and try to suck you in by offering an extremely low purchase prices coupled with an extremely high lease price. They justify this discrepancy by blaming it on the bank and the economic crisis. Hogwash, except for GM, they are all selling tons of cars and leases are at an all time high. Whether they are all in a cash rich position, or are benefiting from the bank bailouts, I don't know. I just continue to be amazed at the asking prices and the lease prices and the money people will borrow to get these cars. Why am I looking, good question, I guess I'm hanging around waiting for the prices to come down.
I have a white 2008 Infiniti AWD Journey EX35 - fully loaded including premium, technology package, navigation, bluetooth, IPOD, roof rails, etc., etc., I leased the car in September 2008 for 39 months with 12000 miles per year. So far, I only have ~2000 miles on the car. The lease payment is only $475 per month. I am in need of getting out of this lease and would like to see about negotiating a transfer. Please let me know if anyone is interested in assuming this lease. I am willing to provide financial incentives. I am located in South Jersey/Philadelphia area.
Hi, I might consider this since I am near the end of my lease. Is the car pristine? Any scratches or dings? Are you a smoker? Who is it financed through and how does one go about transferring a lease? I live in the same vicinity and might be interested. How can I get in contact with you to discuss this possibility?
What is a good price for a lease this month? The one I like the best that my dealer can get is an EX35 AWD Journey w/ Premium Package, Roof Rails (and crossbars, I think), Cargo Protector, and Splash Guards. I only 10K mi per year and was told that the 39 mo lease was best (I don't care between 36 and 39 mo).
Hi precision80. Infiniti's March lease program for the EX varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will have to make some assumptions. Leet me know if you want something different. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 EX35 AWD with 15,000 miles per year are .00039 and 54%, respectively.
Infiniti is currently providing $5,000 dealer cash on the EX, but unfortunately that cash is not compatible with its special lease program. It does however have a $500 cash incentive that is available on leases.
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Hi lasher30. Let me know what the MSRP and dealer invoice price of the exact EX that you are interested in are, you can look them up over in the New Vehicle Pricing section of Edmunds.com, and I will work up a sample lease payment for you.
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"2008 EX35 AWD with 15,000 miles per year are .00039 and 54%, respectively"
This is the wrong information! Infinity of Coconut Creek just told me it was 49% for 36/15,000 lease of an EX35 for March. I talked to the sales manager himself.
Car_man where are you getting these numbers? My wife is now very upset since we can't afford the car with the new numbers.......
Hey mbynyny, Let me know if you are serious about the lease swap. My lease ends 3/26 and I will probably try to close a new deal next week if I don't hear back from you. Thanks!
I have done the research and Nissan does not allow you to transfer the lease "free and clear" - one of the only companies that doesn't allow this. Your name remains on the lease as a guarantor so if the person you transfer the lease to defaults - you are financially liable. In this market - it is way too risky to transfer a lease to an unknown person. The only other way to get out of the lease is to pay it off. I called Nissan for my pay-off figure and it is more than the purchase price listed in my lease agreement (although this includes sales tax). I only have 33 months left :-(
Hey mbwnyny, I just wanted to let you know that I leased a car and can't help you on getting out of your lease. Also, Swapalease.com sells a peace of mind protection/insurance plan to the vehicle seller, so that you are not held liable if the buyer defaults or damages the car. I am not sure how much it costs, but here is a link. Good luck with whatever you do!
I'm not sure, p996, because the info that I provided earlier is definitely right. In March, Infiniti Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2008 EX35 Journey AWD with 15,000 miles per year were .00039 and 51%, respectively. Infiniti is not providing lease support on 2 year terms any longer so you definitely do not want to lease for 24 months.
Infiniti is scheduled to announce its new April programs later on today. Please feel free to check back with me for an update on what the new program is like if you're still interested.
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P996, the lease program that I provided you with information on is definitely right. I saw the bulletin with my own two eyes. It's a moot point anyhow because Infiniti is scheduled to introduce its new April lease program later on today. Let me know if you're interested in finding out what the new numbers are.
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Hello navboy. In March, Infiniti was providing a $500 loyalty cash incentive on leases of the 2008 EX35. It is scheduled to introduce its new April program today. Let me know if you want the details.
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Hey Rob. I've had a chance to take a look at the new April program. Infiniti Financial Services' current buy rate lease money factor and residual value for a 39 month lease of a 2008 Infiniti EX35 AWD with 12,000 miles per year are .00036 and 54%, respectively.
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I also leased my car in September 08 and have 33 months to go as well..... . I wonder if they will let you out of the lease if you lease a different Infiniti?
I tried to check out the insurance on Swap a lease but couldn't get a rate.
Sure they will, but not like you are hoping. You will be way upside down (owing more then the car is worth) which you will have to pay upfront or roll into the new lease. It will be in the thousands.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Exactly! And given how I feel about this car - there is no way I would ever get another infiinti
I looked into the pay-off figure - which was over $40K (that did include sales tax). I figured I could pay it off and either sell it privately or use as a trade in but at $40K there is no way I would be able to do either and come even close to breaking even. I think I am resigning myself to living with this car....ugh!
Thanks for the info... Do you know what the MF and residual is for the special lease deal advertised on Infiniti's website for $399/month? It looks like a 10K miles lease for 39 months. Just wondering if that's different. We live near Seattle. If it is different and has better terms, can it still be apllied to a vehicle with slightly different options than the advertised offer? (Premium w/ roof rails).
Just a follow-up to my last post... went into the dealer today. They quoted a MF of .00161 and a low residual of 50%. I'm inquiring about a 39-month 10K lease. Seems like I'm being taken? I know they can earn profit on the MF but can they also adjust the residual?...
Coincidentally, I'm also looking at a Murano, and they told me a MF of .00159. Not sure if Nissan and Infiniti financial are linked, but they're both really close.
Don't let the taste of a EX sour you on Infiniti's. I am on my second G and can tell you the 08 that I now have is by far the best car I have ever owned.
Remember you bought a first year model of a car, which is rarely a good idea (just as it wasn't a very good idea for Infiniti to make the EX)
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Why don't you like the car? Seems like you despise it. I think someone asked you earlier why but I never saw a response. I'm curious why you thought the car was good for you 6 months ago and then that opinion/guesswork radically changed after a few months using the car. Mileage? Utility/space? Bad visibility? First year kinks in quality?
For me, I do have some dislikes but many likes as well. Some of it is just me getting used to a new car (very different than my last) and a sort of unusual out of the box type shape. I do think some of the issues I have will be resolved for the 2010 (and some the European model has, like darn hooks and a pet barrier; what Infiniti you don't think Americans cart around their dogs in cars???) but my last car bit the dust and I couldn't wait. Otherwise I would have just to be prudent. Overall I'm happy. Some cons really are huge pros at the same time. I think I just need to get used to my new daily driver.
Just another follow-up.... I've got the MF to the stated Car_Man quote for April but the dealers are giving conflicting residuals. Anywhere from the stated 55% (for 39-month 10K) to 50%. Anyway, I'm sure everyone can learn from this...
Since I read earlier that this happened to someone else, (residual differing from what is found on this forum), it makes me wonder if a residual can be manipulated somehow to a dealers benefit, perhaps in certain states where the car lease lending laws are more relaxed? Or, maybe it varies by region. It would be interesting to find out... Where's Car_Man?
Hey ad12, There are many, many factors that may affect residual values. The usual factors are time and mileage, but often residuals are lower for heavily optioned vehicles. So one person may get an EX35 with few options for 36 months/10K miles for a pretty high residual % and another may get a fully optioned EX35 for 39 months/15K miles for as much as a 10% lower residual percentage. And I'm pretty sure that while the financing company "recommends" residuals to their dealers, the dealers have some flexibility to reduce the percentage, thus increasing your monthly payment. Of course if they go too far, they could lose the deal by making your payment too high and you may also benefit at the end of a lease if the market value is greater than your buyout cost - you could recoup some of the extra monthly costs by selling the car at lease end. By reading forums like this you are informed as to what others are experiencing and you can use this during your negotiations.
Dealers have zero flexibility to change residuals. Residuals are set in stone by the finance company. Infiniti does set different residuals for different configurations. For example an EX could have four different residuals at each mileage level and lease length: Base, Base AWD, Journey & Journey AWD.
The dealer can markup the money factor.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Hello, I used this form 26 months ago to work a good deal on my current FX35.
Here is waht the dealer is offering me in Columbus OH 2008 EX35 Journey AWD Platinum and Tan interior Luxe pkg Nav pkg Car was dealer demo has 4500 miles on it 39 month 10K year MSRP $43,875 Cap cost $37,157.75 Residual $21,000 MF = .00036 Payment = $480.00 month First payment and tags due at signing. they also are paying my final payment on my FX of $475.00
I may have found the issue with residuals. I went back to the dealer and they showed me the April bulletin. The higher residual does not apply to the Journey. The residual for the AWD Journey at 39 and 42 months is 50%. I ended up going with the deal. The .00036 MF is correct, I decided to go 42 months and it was slightly higher , like .00052
I can't remember all the specifics b/c it was last week but I got the AWD Journey with Premium and Roof for a cap cost of just over dealer cost. Unfortunately I had $1,600 in negative equity but that did translate to a sales tax credit for 33 months.
With bank fee, licensing and 1st payment drove off for $800 and payments at $499.
I heard from 2 dealers Infiniti was offering the dealers $$ for unloading tech packages in march. Carman, did you know about this, would have pulled the trigger in March had I known the cash would not be available in April?
I've done a little more research and Infiniti does offer an early lease termination program. After you make 12 payments on the car IFS will provide an early lease payoff quote- and you don't have to lease another Infiniti - you can just turn the car in and pay the difference. Of course, this could be in the thousands - but I was in an Infiniti dealer today and the salesperson told me about a customer who used this program to get out of their G35 after a year and the difference was $1500. The customer was moving up to the M35 so he used the $2000 customer loyalty money to take care of the $1500.
The quote is calculated using the unpaid balance of lease payments + residual value less the wholesale value of the car.
From Infiniti's website:
"I can no longer afford this vehicle/I no longer need or want this vehicle; can I get out of this lease early? You have an early termination option in your lease agreement. You may contact our Customer Service Department at 1-800-627-4437 to advise you if your account is eligible for early termination.
*** Note: California accounts are administered differently. ***
How do I qualify for an early termination quote? In most states you must have made 12 payments in order to be eligible to do an early termination. Your account must be current. Your lease agreement requires you to provide a 30-day prior written notification requesting an early termination quote. Please contact our Customer Service Department at 1-800-627-4437.
How is an early termination/quote calculated? An early termination fee is the difference, if any, between the unpaid adjusted capitalized cost and the fair market wholesale value of the vehicle. This basically represents the present value of monthly payments not yet due on your lease and the purchase option price less the wholesale value of the vehicle."
An early termination fee is the difference, if any, between the unpaid adjusted capitalized cost and the fair market wholesale value of the vehicle. This basically represents the present value of monthly payments not yet due on your lease and the purchase option price less the wholesale value of the vehicle."
This is no different then any other way to get out of your lease. How much do I owe on the car if I were to buy it? How much is it worth? The difference it what I need to pay.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
You're welcome ad12. Infiniti Financial Services' current 39 month, 10,000 mile per year (the terms that are used in the advertised lease) buy rate lease money factor and residual value for the 2008 EX35 2WD are .00019 and 54%, respectively.
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Hi ad12. Dealers often have the authority to mark-up vehicles' money factors to add additional back-end profit to deals but they cannot change vehicles' residual values.
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Carman, Can you let me know if the residual and MF seem right? Also, has anyone got a better price on a dealer demo? Here is waht the dealer is offering me in Columbus OH 2008 EX35 Journey AWD Platinum and Tan interior Luxe pkg Nav pkg Car was dealer demo has 4500 miles on it 39 month 10K year MSRP $43,875 Cap cost $37,157.75 Residual $21,000 MF = .00036 Payment = $480.00 month First payment and tags due at signing. they also are paying my final payment on my FX of $475.00
Comments
This cap cost is $400 below invoice. Do you think they're giving me the best possible deal?
The most important thing is to see if you are completely released from liability is you let someone assume the lease. I've done Leasetrade with a Wells Fargo lease and it was a huge pain. I had Wells send me the application and I would forward it to the potential borrowers so I could control how/when everything happened. Most people never filled out the application or sent it back. The people that did send them back often had very bad credit or they would have leased directly from a dealer! If I had it to do all over again, I would have just paid out the lease on our car and been done with it. Your mileage may vary but that was my experience.
If the bank does not release you from liability DO NOT let someone assume the lease. If they stop paying you either have to make the payments yourself or your credit will be destroyed as if you still own the lease (which you actually still do!).
Hope that helps. My feeling is to tough it out through lease end or see if you can do a trade.
Out of curiousity - what are the things about the car that you don't like? We're still considering and haven't really gotten much negative feedback other than size & mileage so I'm curious about your experience.
Good luck!
Jay
Can I ask what type of monthly payment you were quoted? That looks like a very nice EX. Thanks for your help.
Sal
After researching the lease deals of nearly every so called luxury car dealer, and dealers of ordinary cars like Hondas and Jeeps, I have come to the conclusion that "luxury" dealers set the lease price based solely on "what they can get" or what the perception of the car is and how strong their sales are, and the more confident they feel in their ease of sales, the higher the lease price. In other words it has little to do with MSRP vrs invoice or lease factor or residual. Infiniti sells all their cars easily, it is a super popular highly successful brand and they charge a premium for their leases. BMW and Land Rover and Lexus and Audi are exactly the same; they all have terrible lease deals.
Ironically, other average brands like Jeep, also have terrible lease deals and try to suck you in by offering an extremely low purchase prices coupled with an extremely high lease price. They justify this discrepancy by blaming it on the bank and the economic crisis. Hogwash, except for GM, they are all selling tons of cars and leases are at an all time high. Whether they are all in a cash rich position, or are benefiting from the bank bailouts, I don't know. I just continue to be amazed at the asking prices and the lease prices and the money people will borrow to get these cars. Why am I looking, good question, I guess I'm hanging around waiting for the prices to come down.
Sal
What is a good price for a lease this month? The one I like the best that my dealer can get is an EX35 AWD Journey w/ Premium Package, Roof Rails (and crossbars, I think), Cargo Protector, and Splash Guards. I only 10K mi per year and was told that the 39 mo lease was best (I don't care between 36 and 39 mo).
Much appreciated!
Is the $5,000 cash to dealer available when you lease as well?
2008 Infiniti EX35 2WD – 3/7/08
24 Month – Residual 67% of MSRP – .00025 Base Rate
36 Month – Residual 56% of MSRP – .00064 Base Rate
48 Month – Residual 46% of MSRP – .00156 Base Rate
60 Month – Residual 34% of MSRP – .00214 Base Rate
2008 Infiniti EX35 Journey 2WD – 3/7/08
24 Month – Residual 63% of MSRP – .00025 Base Rate
36 Month – Residual 52% of MSRP – .00064 Base Rate
48 Month – Residual 43% of MSRP – .00156 Base Rate
60 Month – Residual 32% of MSRP – .00214 Base Rate
2008 Infiniti EX35 AWD – 3/7/08
24 Month – Residual 69% of MSRP – .00049 Base Rate
36 Month – Residual 57% of MSRP – .00101 Base Rate
48 Month – Residual 47% of MSRP – .00171 Base Rate
60 Month – Residual 35% of MSRP – .00213 Base Rate
2008 Infiniti EX35 Journey AWD – 3/7/08
24 Month – Residual 64% of MSRP – .00049 Base Rate
36 Month – Residual 54% of MSRP – .00101 Base Rate
48 Month – Residual 44% of MSRP – .00171 Base Rate
60 Month – Residual 33% of MSRP – .00213 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
Infiniti is currently providing $5,000 dealer cash on the EX, but unfortunately that cash is not compatible with its special lease program. It does however have a $500 cash incentive that is available on leases.
Car_man
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Why are the rates you are quoting for March different than the ones I received (and posted) from a few other sites?
What rate do you see for a EX35 Journey for 24 months / 15,000 miles and 36 months /15,000 miles?
Thanks!
Please post March 09's rates please....
MSRP = $40,525
Purchase Price = $37,528
Money Factor = .00036
Term = 39
Residual = 52%
Monthly lease payment = $469
Acquisition fees (595) and doc fees (180) are due at signing.
Much appreciated
How many miles per year was that lease quote for? 12K or 15K? Thanks!
Sal
This is the wrong information! Infinity of Coconut Creek just told me it was 49% for 36/15,000 lease of an EX35 for March. I talked to the sales manager himself.
Car_man where are you getting these numbers? My wife is now very upset since we can't afford the car with the new numbers.......
Your MF was also off.
Let me know if you are serious about the lease swap. My lease ends 3/26 and I will probably try to close a new deal next week if I don't hear back from you.
Thanks!
Sal
MSRP = $40,525
Purchase Price = $37,528
Money Factor = .00036
Term = 39
Miles = 10,000
Residual = 52%
Monthly lease payment = $469
Acquisition fees (595) and doc fees (180) are due at signing.
Much appreciated
Does the EX35 also have loyalty program which one can apply to the lease? If so, how much is it?
I just wanted to let you know that I leased a car and can't help you on getting out of your lease. Also, Swapalease.com sells a peace of mind protection/insurance plan to the vehicle seller, so that you are not held liable if the
buyer defaults or damages the car. I am not sure how much it costs, but here is a link. Good luck with whatever you do!
http://www.swapalease.com/leaseDefault/intro.asp
Sal
Infiniti is scheduled to announce its new April programs later on today. Please feel free to check back with me for an update on what the new program is like if you're still interested.
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Please let me know if the money factor/residual has changed at all
for April. Looking for a 39 month lease 12K miles a year.
Rob
Car_man
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I currently lease an FX. When I return it, can i apply 2000 loyalty cash towards the lease of an EX35?
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I tried to check out the insurance on Swap a lease but couldn't get a rate.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I looked into the pay-off figure - which was over $40K (that did include sales tax). I figured I could pay it off and either sell it privately or use as a trade in but at $40K there is no way I would be able to do either and come even close to breaking even. I think I am resigning myself to living with this car....ugh!
Thanks for the info... Do you know what the MF and residual is for the special lease deal advertised on Infiniti's website for $399/month? It looks like a 10K miles lease for 39 months. Just wondering if that's different. We live near Seattle. If it is different and has better terms, can it still be apllied to a vehicle with slightly different options than the advertised offer? (Premium w/ roof rails).
Thanks again!
Just a follow-up to my last post... went into the dealer today. They quoted a MF of .00161 and a low residual of 50%. I'm inquiring about a 39-month 10K lease. Seems like I'm being taken? I know they can earn profit on the MF but can they also adjust the residual?...
Coincidentally, I'm also looking at a Murano, and they told me a MF of .00159. Not sure if Nissan and Infiniti financial are linked, but they're both really close.
Thanks for any additional info...
Remember you bought a first year model of a car, which is rarely a good idea (just as it wasn't a very good idea for Infiniti to make the EX)
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
For me, I do have some dislikes but many likes as well. Some of it is just me getting used to a new car (very different than my last) and a sort of unusual out of the box type shape. I do think some of the issues I have will be resolved for the 2010 (and some the European model has, like darn hooks and a pet barrier; what Infiniti you don't think Americans cart around their dogs in cars???) but my last car bit the dust and I couldn't wait. Otherwise I would have just to be prudent. Overall I'm happy. Some cons really are huge pros at the same time. I think I just need to get used to my new daily driver.
Since I read earlier that this happened to someone else, (residual differing from what is found on this forum), it makes me wonder if a residual can be manipulated somehow to a dealers benefit, perhaps in certain states where the car lease lending laws are more relaxed? Or, maybe it varies by region. It would be interesting to find out... Where's Car_Man?
There are many, many factors that may affect residual values. The usual factors are time and mileage, but often residuals are lower for heavily optioned vehicles. So one person may get an EX35 with few options for 36 months/10K miles for a pretty high residual % and another may get a fully optioned EX35 for 39 months/15K miles for as much as a 10% lower residual percentage. And I'm pretty sure that while the financing company "recommends" residuals to their dealers, the dealers have some flexibility to reduce the percentage, thus increasing your monthly payment. Of course if they go too far, they could lose the deal by making your payment too high and you may also benefit at the end of a lease if the market value is greater than your buyout cost - you could recoup some of the extra monthly costs by selling the car at lease end. By reading forums like this you are informed as to what others are experiencing and you can use this during your negotiations.
The dealer can markup the money factor.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I used this form 26 months ago to work a good deal on my current FX35.
Here is waht the dealer is offering me in Columbus OH
2008 EX35 Journey AWD Platinum and Tan interior
Luxe pkg
Nav pkg
Car was dealer demo has 4500 miles on it
39 month 10K year
MSRP $43,875
Cap cost $37,157.75
Residual $21,000
MF = .00036
Payment = $480.00 month First payment and tags due at signing.
they also are paying my final payment on my FX of $475.00
Thoughts suggestions
I may have found the issue with residuals. I went back to the dealer and they showed me the April bulletin. The higher residual does not apply to the Journey. The residual for the AWD Journey at 39 and 42 months is 50%. I ended up going with the deal. The .00036 MF is correct, I decided to go 42 months and it was slightly higher , like .00052
I can't remember all the specifics b/c it was last week but I got the AWD Journey with Premium and Roof for a cap cost of just over dealer cost. Unfortunately I had $1,600 in negative equity but that did translate to a sales tax credit for 33 months.
With bank fee, licensing and 1st payment drove off for $800 and payments at $499.
Thanks for the help, great forum.
The quote is calculated using the unpaid balance of lease payments + residual value less the wholesale value of the car.
From Infiniti's website:
"I can no longer afford this vehicle/I no longer need or want this vehicle; can I get out of this lease early?
You have an early termination option in your lease agreement. You may contact our Customer Service Department at 1-800-627-4437 to advise you if your account is eligible for early termination.
*** Note: California accounts are administered differently. ***
How do I qualify for an early termination quote?
In most states you must have made 12 payments in order to be eligible to do an early termination.
Your account must be current.
Your lease agreement requires you to provide a 30-day prior written notification requesting an early termination quote. Please contact our Customer Service Department at 1-800-627-4437.
How is an early termination/quote calculated?
An early termination fee is the difference, if any, between the unpaid adjusted capitalized cost and the fair market wholesale value of the vehicle. This basically represents the present value of monthly payments not yet due on your lease and the purchase option price less the wholesale value of the vehicle."
This is no different then any other way to get out of your lease. How much do I owe on the car if I were to buy it? How much is it worth? The difference it what I need to pay.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
It is also providing $5,000 dealer cash on this model right now, but the dealer cash is not compatible with its special lease program.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Here is waht the dealer is offering me in Columbus OH
2008 EX35 Journey AWD Platinum and Tan interior
Luxe pkg
Nav pkg
Car was dealer demo has 4500 miles on it
39 month 10K year
MSRP $43,875
Cap cost $37,157.75
Residual $21,000
MF = .00036
Payment = $480.00 month First payment and tags due at signing.
they also are paying my final payment on my FX of $475.00