The G35 is a GREAT car... however, I would NEVER purchase from the Fresno delearship! I think they are very dishonest and will outright lie to you. When I contact the General Manager (twice) he would never return my call. Although some of the salespeople seem good and honest, once you start dealing - look outt!! I would suggest dealing with someone in Roseville or another big city. When you're paying that kind of money for a car, you expect honest service.
okay im lookin to puchase a 07 g35 sedan journey the msrp price is $32,615.00 but when i went to the dealership, prices were around 35,000 with all the options and stuff except navigation which is 2k more. i was wonderin how much i can haggle off the 35k price?
I got the journey fully loaded with Nav, premium, tech package, minus the wood trim and sport tires for bottom line price of under 36(includes doc fee). You can definitely get it for cheaper than what they are offering you, Im assuming that since the price is without the nav, your also not getting the tech package. Thats 3k of stuff. Just tell them your going to look at the TL and lexus and im sure their price will go down. Start from the invoice and work your way up dont pay MSRP.
Just got the following deal on GX35 with sunroof, splash guards and trunk net (I guess, the last two are always installed). Anyway, the cap cost was given to me as $32,450. To lease it for 24 months: Cap Cost Reduction $0 Money Factor 0.00131 Acq/Bank Fee $595 Residual $24,029.55 Doc Fee $45
Monthly Payment $425.33
Drive Off Pay $1,970.07 which includes Pay for 1st month $425.33 Acq/Bank Fee $595 Doc Fee $45 Waste tire pay $12.50 Tax rest of drive off pay
Now, my questions: 1. I was told that Acq Fee cannot be reduced, since it comes from the bank. Is that actually true? 2. Residual value, which is 67% was calculated from MSRP, not from Cap Cost (which is actually ok by me, since this makes the difference between cap cost and residual smaller, hence less to pay). But is this correct? 3. Since the only difference between lease and purchase is the acq/bank fee + tax on it, in case if I would want to buy the car, does it not make sense to lease the car for 24 months and then buy it at the end of the lease.
I did read alot of questions on this thread, but any other recommendations will be appreciated.
1) The acquisition fee does go to the bank.. Some dealers will mark it up for extra profit, but your dealer hasn't done that.
2) Residual value is always calculated on MSRP. Lease end value has nothing to do with how much you pay for the car. All vehicles with the same MSRP will have the same lease end value, all variables being equal.
3) It's hard to say what will be cheaper. You'll be paying tax on the lease, then have to pay sales tax when you buy the car at lease end. You have to pay the extra $595 for the acquisition fee, but the effective interest rate on the lease is probably less than what you would pay for a purchase. However, when you buy the car out in two years, you'll likely pay a higher interest rate, as it will be a used car at that time. If your ultimate goal is to own the vehicle, probably better off buying it from the start.
1) The acquisition fee does go to the bank.. Some dealers will mark it up for extra profit, but your dealer hasn't done that. So, there is nothing that I can do about this fee?
2) Residual value is always calculated on MSRP. Lease end value has nothing to do with how much you pay for the car. All vehicles with the same MSRP will have the same lease end value, all variables being equal. Is residual percentage of 67% correct, or the best out there?
3) It's hard to say what will be cheaper. You'll be paying tax on the lease, then have to pay sales tax when you buy the car at lease end. You have to pay the extra $595 for the acquisition fee, but the effective interest rate on the lease is probably less than what you would pay for a purchase. However, when you buy the car out in two years, you'll likely pay a higher interest rate, as it will be a used car at that time. If your ultimate goal is to own the vehicle, probably better off buying it from the start. When you say that I am paying tax on the lease, do you mean that I am paying tax on the diff between Cap Cost and Residual Value, or something else? Now, if I am buying a new car, I also am paying tax, am I not? And then, if I will pay cash for the car in 2 years, I will only pay tax on the Residual Cost, right? So, except for $595 + tax on it, I do not see any diff. Am I missing something?
2) I don't know for sure.. but the bank sets the residual. The dealer can't change it, so not much to worry about there.
3) A lot of it depends on the local tax laws where you live. Where I live, I pay tax on the monthly payment, then if I buy the car at lease end, I pay tax again on the residual... This almost always ends up being more than what I would have paid if I bought the car new. Your state may not tax the vehicle the same way. What state do you live in?
Again.. $595 for the acquisition fee is an added cost, plus if you have to finance the car in two years, you have an interest rate risk.. You don't know what kind of rate you will get at that time.
It may be that the total cost will be very close, but you are taking a risk. If you buy the car now, you know exactly what the cost will be. But, on the positive side, if you lease, you can walk away in two years, if you decide you want to do that.
I think kyfdx had answered most of your questions. My $0.02.
You are stuck with the bank fee, standard on all leases.
You are stuck with the residual, set by the lease bank and can't be changed by you or the dealer. Always a percentage of full MSRP and most often without dealer installed stuff on it.
As to the lease/buy - run the numbers for yourself.
On the plus side, your lease rate is 3.144% effective, which is much lower than most folks could get on a car loan. The lease payments are lower, but the buyout payments are higher than the loan payment would be.
On the minus side, in most states you pay tax on the payment - which includes interest, so you are paying sales tax on the interest each month. Also, the loan to buy out your (then) used G will be at a lot higher rate than a new car loan would be.
You don't say where you live and what your taxes are, so let us use 7% just to look at it.
$32,450.00 is the car with 7% tax = $34,721.50 less the $892 down payment (was cap cost reduction) gives $33,829.50 loan amount. This works out to 6.35% 60 months $33,829.50 $659.54 = $39,572.40 . So the car would cost you $40,464.40 total.
On the lease, you are out $1,970.07 up front then have 23 payments of $425.33 or $11,752.66 total. Then you take the buyout price plus 7% tax = $25,711.62 . At today's used car rate (we don't know what the rate will be in 24 months) this would work out to 6.65% 36 months $25,711.62 $789.79 = $28,432.44. So you add the total of the loan payments and the lease and the up front and you get $40,185.10.
So using 7% tax as an example, you could come out ahead leasing them buying.
You have to run these numbers for yourself and decide, but it is likely that given the really low MF on the lease you will not got too much wrong doing the lease then buy - plus you have the option of just turning in the car and getting something new.
As I said, the lease payments are cheaper NOW but then jump way up to buy out the car in 3 years. The loan payments are high now and stay that way.
Hi everyone. I am a first time poster to this forum. Reading through it has been a great help to me. I am looking to buy a new G35 sedan sometime in the next month, but am considering holding out if Infiniti offers incentive financing for the 2007 models. I've noticed that for all the models where the 2008 is available, Infiniti is offering low incentive financing for the 2007s. What are the chances that the same thing will happen for the 2007 G35 sedans?
Thanks for all the help. By the way, I live in NYC and am getting the car from one of the dealerships nearby. I was just thinking that it makes sense to lease the car for couple of years, since the lease interest is much better than the financing interest. And then the decision can be made AFTER driving the car for 2 years if I would want to get the new car or buy this one.
Exactly - the lease bank takes the chance on future value and you get to try it for a while for a "cheap" payment.
I leased an RX-8 a couple of years back and they had $2,000 in lease money AND a really cheap rate - made it a no brainer since my price was $500 under invoice and I had an additional $500 rebate (gross cap with invoice - $3k). The lease is up and the car's trade value is $2k or more under residual - poor lease bank (MAC, in this case). This the FIRST lease car I have ever turned in, in the past I could always sell it to someone during the lease or at the end and make a little money. Lucky for me I didn't finance it, or I would have been paying much higher payments and *I* would be stuck trying to move the car.
There should be little risk in a G, they always have good resale value for the sedans and SUPER resale for the coupes.
The only time it may not make sense is if you live in a state where tax is due on the whole car and maybe then again if you buy it out. So everyone should run the numbers for themselves including tax and see how it works out.
Dennis, can you please elaborate on your statement: "The only time it may not make sense is if you live in a state where tax is due on the whole car and maybe then again if you buy it out."
I live in NYC. How do I know if tax is due on the whole car (I assume that you meant on the residual value of the car - in this case $24K)? Is there site, or another thread on this discussion board, which already talks about this?
AFAIK in NY they charge tax on the payment, but make you pay it up front.
In most other states, you pay it as you go.
In some states, the make you pay tax on the whole car - not just the depreciation.
Some examples:
In most states you figure the base payment, say $500 a month, then add state tax to it, say 8.25%, so your payment would be $541.25
In NY, you figure your base payment at $500 a month, the calculate the taxes (8.25% * $500 * number of payments) so the total would be $990 total tax due. You either have to pay is up front or roll it into the lease. If you roll it in, your actual payment will rise by more that just the tax - since you are paying interest on tax.
In a few states, they tax the whole car - say your negotiated price is $37,000 then $3,052.50 would be due (at the 8.25% rate) for the lease. Then later if you decide to buy it off lease end, you may have to pay sales tax on the residual amount to purchase it.
They should be coming out today, but I have not seen them. On the Infiniti page it shows no promo finance deals at this time. They do show a journey sedan lease deal than expires 7/31/2007. Working it backwards, it looks like a 57% residual on a 39 month/12k lease (which is HIGHER than the June number) and about 0.00212 for the MF which is also higher than June.
Invoice with those options is $32,537, VPP should be less than $300 over invoice so either there is another option (trunk net?) or you quote includes the dealer fee or dealer options? With VPP they should show you the invoice which has the pre-figured price or you can calculate it yourself.
In most places right now < $300 over invoice from a dealer with no or a reasonable doc fee is a great deal.
Dude if you live in manhattan with this car, worry about the 500 a month its going to cost to park this baby and not about 1000 dollar difference at the end of the lease!
question.. currently driving an accord... want a sports car.... deciding between 350z and g35 cpe.. have kind of decided on g35... my question is on a decision.... i can find a used g35 cpe <20K miles for ~$30K... but financing thru capital one ~7% i think.. new one c premium package ~$37K otd.... but right now 1.9%.... what works out better.... please help with the math.. thanks
I was recently quoted $37826 for a fully loaded G35x with Prem, Nav, and tech packages. Is this a fair deal? It includes the $715 destination charge. The MSRP was $40155.
Go to Edmunds and figure out the invoice price with the options on the car you were quoted. Compare the invoice including destination with the price you were quoted. If you are within $300-1000 of invoice that is a decent deal - depending on where you are located.
Edmunds will also show you a "what others are paying" price and that will give you and idea as well.
Is the general consensus on these vehicles that the VPP Plan D is a pretty good deal? Difficult to negotiate any further? My company has a lot of "purchase plans" with various car manufacturers, but they're often not a great deal since most cars sell below invoice (especially at this time of year).
It's a good deal for the G35x right now, yes / no?
On the sedan you are interested in, yes. You should end up $275 or so over invoice if you find a dealer that accepts VPP and has no dealer doc fees or add-ons. If there are any dealer or buyer incentives they have to pass those along to you as well - with the VPP plan. Once you give them your VPP claim code they are supposed to show you the invoice with the VPP price on it. The formula is posted on the Nissan VPP page so you can work it out for yourself, but on a car in the $35k-40k range it will be around $275 over invoice.
For the coupe, no. You could get one of those for invoice or less now that the new G37 is just weeks away.
Just shop for the right dealer and you should be fine. My closest Infiniti dealer has a $500-600 doc fee and adds over $1k of "mop and glow" to each car on a side-sticker. So getting a VPP deal from them is no deal at all. I can drive a little and get the same car, less the junk and fees, and come out tons ahead.
I work for a supplier to Nissan/Infiniti, and am considering the VPP plan. Unfortunately, reading the recent posts, it seems I'll still have to shop around and/or negotiate to get the best price, as all the usual "junk" fees (doc fee, dealer prep, additional market value, advertising supplement, regional price adjustment, mandatory pinstriping and door edge guards on all cars we sell, etc.) seem to apply to buyers using this program.
Anyway, my wife's eyes were opened when she tried to "special order" a Toyota. Some salesmen said it could be done, some said it couldn't. Some said she would get a call when a car with her specs came in. In the end, we discovered that they simply don't make all possible color and option combinations, and you can't do a "factory order." The manufacturer decides which colors/options to manufacture, and the dealers basically get random cars, or rather, cars with colors and options that in Toyota's opinion, meet the desires of buyers in that region.
That said, is it possible for me to special order a G35 sedan that will be manufactured according to MY specifications? Or am I stuck with choosing only from current and "soon to be arriving" dealer inventory? :confuse:
It is not as much hassle as you make it out to be . Of course, it depends on how many dealers are within easy driving distance of where you live. You just call/e-mail each one and ask if they honor VPP pricing on the car you want, do they have a doc/prep fee and if so how much is it, and (if leasing/financing through the dealer) do they mark up the lease/loan terms and do they add junk to the cars before they are offered for sale? Once you pick the best dealer then it is just a question of finding the right car.
Toyota is unique (not in a good way) as they are marketed through a regional systems. And while the spec sheet says you can get all these options, the regional folks decide what can and can't be ordered and what combinations are allowed or required. In fact, last time I was on the Toyota web page they made you put in your ZIP before they would show you the options and details. A few years back my wife was interested in a Toyota and we wanted certain options - could not get a car like that w/o getting a bunch of stuff we did not want. Ditto a friend of mine that was cross-shopping the RAV-4 with the CR-V. With Honda it was simple, pick your trim level and color and buy. He could not find nor order what he wanted from our regional Toyota folks.
As to an order, that should be possible. They can also trade with another dealer to get you the right car. If the dealer is close, they would do this for free. If far and they send a truck you would have to pay a bit more. However, with VPP pricing if you find the car for yourself and that remote dealership (and they honor VPP) you just go get it for the VPP price and skip the extra haul fee. They can also order a car for you, but (as always) they would be happier if you just took one from stock. They DO make a profit on VPP deals - the holdback plus the $275 or so you pay over invoice and then another 2.5% "delivery fee" from Infiniti, so many dealers welcome VPP sales.
There are not that many option choices on the Gs, I don't think, that it would be that hard to find exactly what you want. "Stripped" Gs usually to be ordered as not many dealers will order them w/o at least the premium package.
In my case, I want a 6mt with tech/nav/premium only in certain colors, so I have to wait for my car to be ordered, made, and shipped. If I would have wanted an auto, I would already be driving it .
In most areas you just about can't get a G without the splash guards and/or the cargo net. They install them at the port of entry on (it seems) about every G on most lots.
I am looking to lease for the first time. I am in NJ and am looking for a G35X with premium package. So far the best deal i am getting is from Circle Infiniti,
GAP insurance protection is included in IFS lease. No Disposition Fee. Annual Mileage Allowance: Residual Value reflects an annual mileage allowance of 15,000 miles.
Your MSRP is 37,115. Therefore, you must have another option besides the premium package. I'm guessing a satellite radio. Also, I'm assuming that NJ levies sales tax on the payment streams. Apparently, you're putting money down (bad idea) and/or have a trade credit. Please, do NOT put money down unless absolutely necessary. A car is a depreciating asset. Furthermore, if your car is stolen or totaled, it's highly unlikely that you'll recover your down payment. Also, I'm not sure about the 39 month money factor. You'll need to confirm this. Look at some of my other posts regarding IFS's treatment of security deposits.
I am new to the world of leasing and I'm afraid of getting ripped off because I don't know how to negotiate a deal. I'd like a 2007 Infiniti G35 Sedan w/ premium package. MSRP is about $35100. I live in California. He said the VPP is $200 over cost which should be about $32250. To lease the vehicle for 39 months would be $1200 due at signing (includes taxes and first payment) and $446 plus tax per month. It doesn't sound very good, but then again, I have nothing to compare it to. I would appreciate any help. I would also appreciate it if anyone could tell me if they leased the same vehicle and what they paid. Thank you in advance.
Without knowing some key details it's hard to calculate your deal, but it doesn't seem to be that far off. You need to find out what the residual is for 39 months, how many miles per year, money factor and if there are any other options or dealer add-ons. To get that MSRP I had to add the splash guards and I got an invoice price of $32177 and a VPP price of $32446. If I plug in the 36 month numbers for a 15k mile lease with a residual of 57% and a MF of .00195 your monthly pre-tax payment is about $447/month. I'm guessing that the 39 month numbers will come out about the same but it's a benefit to them to get you to pay an extra 3 months.
First off, I would like to say thank you to everyone in this thread for providing each other with such great information.
So far, I have just been emailing local Infinity dealers to see what are the best numbers I could come up with.
For a G35X with Premium Package, this is the best I have been able to do:
MSRP: $36,815 INVOICE: $33,789 QUOTE: $34,326 ($537 over invoice)
I have two dealerships who have quoted me around that same number and both said that it is nonnegotiable. Obviously, if I go in there I will try to get them down to invoice. I just feel that, living in the Chicago area, I am in a pretty competitive market and I should be able to do better.
Also, Illinois is one of those states that charges you sales tax on the full value of the car. I copied those lease proposals that were shown above and did some calculations but how the sales tax is calculated for our state is throwing me off. The tax percent is 6.75% and I would like to roll the entire tax into my monthly payment, can someone help me out on how to do a proper lease calculation including tax for someone in Illinois?
GAP insurance protection is included in IFS lease. No Disposition Fee. Annual Mileage Allowance: Residual Value reflects an annual mileage allowance of 15,000 miles.
Payment = Money Factor x (Adj. Cap + Resid Value) + (Adj. Cap - Resid Value)/Term (months)
I think $537 over invoice is too high. Compare the $33,819.89 sell price above to invoice. One should be able to get this vehicle for just a few bucks over invoice. You didn't mention your desired lease term so I assumed 36 months. My wife likes round dollar amounts; so, I rigged it so that your payment would come out to an even dollar amount ($549.00). She hates subtracting them dang decimals in MY checkbook. At least I'll have a 50-50 chance that it will balance correctly. Questions??? Let me know.
my dealer told me that I can't benefit from multi-deposit, because IFS allows only previous customer to do that. Is it true? I'm in California (if it makes a difference) and this is my first lease.
Infinity of Orland Park and Infinity of Hoffman Estates. I thought it was a pretty good initial quote but I would like to go in there and get them to invoice. Pretty soon the 2008's will be out and then I am driving a one year old (used) car.
wife is losing her company car so this will be her car(she who spills 2 cups of coffee/week while driving to work and used to say of her old bmw...."it's just a car"....then why not a hundai?) test drove one loaded with all but the tech package, which we also want, but did anyone notice the seats are hard as bricks? She has more cushion to sit on than I do, so i couldnt ask her, but to me they seemed as though they would be intolerable on a drive over 50 miles.
I just bought a G35X in the Chicago area, Nav, Prem, cargo net. Invoice pice was $35,636 and I paid 36,186 - $550 over invoice. I tried shopping around but was limited to colors that each dealer had in inventory. It looks like the X is in liimited supply right now. Emailing dealers did not produce any better offers, in my opinion it's best to go face to face with these guys. I could not agree with you more regarding the value of these forums, I only wish more people would participate!
Thanks for posting, it's good to hear from someone buying the same car that lives in the area. As for the high demand, I was told by one dealer who currently only had one vehicle that matched my specs that come August, there are 8 scheduled to arrive! What dealership did you purchase from, if you don't mind posting, and how was the overall experience there?
yeah from shopping around the chicago areavI'd say that u got a great deal. what dealer did u get it from, if you dont mind posting it here. Also, what color did you get? Did that dealer have the car or did they have to trade for it.
Anyone out there buy/lease a G35 lately? I'm looking at the G35x w/Premium, Nav, Tech and wood. I'm wondering what sort of offerings people are seeing or have gotten in the past. Thnx.
Could not find a G35s with the spec I wanted so they added 700 to ship it.
Rather than pay $700 for the shipping, I would have picked up a premium pack car and tell them no to the LoJack. That would make it $1050 not having to pay that, which is over half way to paying for the premium pack ($2,025 at invoice on this car). You get tons of good stuff for that money:
Premium Package
- Power sliding tinted glass sunroof with one-touch open/close, tilt feature and sliding sunshade - Infiniti Studio on Wheels™ by Bose® premium audio system with 24-bit Burr-Brown DAC, single-feed 6-disc CD autochanger with MP3 playback capability, Radio Data System (RDS), and ten speakers, including 3-way component front door speakers with 10-inch subwoofers and a parcel shelf-mounted subwoofer - Heated front seats - 2-way power driver’s seat lumbar support - Memory system for driver’s seat, steering wheel and outside mirrors - Driver's seat, steering wheel and outside mirror position synchronization - One-touch auto-up/down rear windows with safety auto-reverse feature - Power tilt and telescoping steering column synchronizes gauge cluster with column for improved vision - Automatic anti-glare rearview mirror with HomeLink® Universal Transceiver and compass - Bluetooth® Hands-Free Phone System - Heated outside mirrors .
The "studio on wheels" is KILLER audio for an OEM system and is head and shoulders above the base system, then the moonroof, bluetooth, etc. Well worth the extra money of $2,025, but in your case if you take out the shipping and LoJack you are talking $975 more. A "no brainer" to me. Of course, you may be 7' tall and need the no-moonroof headroom or something? A premium pack car will be much easier to sell and be worth more money that a "stripper" down the road as well.
Residual insurance has about killed the deals at lease end. I don't know if IFS carries the insurance or if they use their own folks to handle lease end or a 3rd party company, but almost every lease now seems to be non-negotiable. If they have residual insurance then they get paid for the difference between residual and the actual action sale price. If they discount the car and sell it, they get nothing. So no incentive for them to deal.
Let us know how you make out in case they do deal on the price. I know you need to not ask them, do not show any interest in buying the car and act as if you are going to turn it in. Then if they ask you about it tell them the price is too high and you might think about buying it for a better price.
Wish I knew about the August inventory! Why would a dealer want you to know that? I purchased the car in Orland Park, they had two in the color I was looking for. The overall experience was good at Orland but to be honest I came in with my own financing and no trade so I was spared the usual dealer hassles. About the only thing I thought out of line was being quoted $1400 for a 3 year maintenance agreement. Try doing the math on that one - and it didn't even include brakes!
Couldn't get local dealer in Fresno, CA below invoice +$950 (their Costco price), and their sales manager just simply fluffed off my cash offer. Quite arrogant of the manager who didn't even bother to come out to meet me. Cameron--the salesperson--was outstanding though; nothing against him. They also didn't have the color or exact options I wanted, but I was willing to take a car off the lot if they would get to invoice +$500. Oh well--their loss.
I got a good deal 90 miles away in Modesto for $500 over invoice on a G35S w/Premium. Smaller dealership, but much friendlier and no nonsense. They had my first choice in color (Blue Slate) and options, but not my preferred interior color. Checked entire CA, and there weren't any with my primary choices in colors and options, so I settled for the Graphite interior. Ask for Brian Montoya (Fleet Sales), or Pete (Sales Manager).
Picked up the car this past Saturday--they detailed and filled the gas tank.
I am looking for the a G35 coupe with prem. pkg and navigation option in souther california. I do not know if the invoice prices quoted by the dealer (in bold) here is correct!!! Please suggest?? Thanks,
Invoice BASE $30,763 NAV $1,624 NAVIGATION PKG PRM $2,456 PREMIUM PACKAGE RAS $646 REAR ACTIVE STEER SG1 $154 PAINTED SPLASH GU SPT $1,379 SPORT PACKAGE SRS $302 SIRIUS SAT RADIO TMA $64 TRUNK MAT 50S $0 50 STATE EMISSION Freight Charge $700 Total $38,088
Wow, that maintenance agreement is pretty high! I agree with you as to why a dealer would want a buyer to know their incoming inventory. He just got done explaining that the car was in demand and going for a higher price, along with the fact that he currently only had one on the lot, then he tells me he'll have eight more coming in August!
Comments
the msrp price is $32,615.00 but when i went to the dealership, prices were around 35,000 with all the options and stuff except navigation which is 2k more. i was wonderin how much i can haggle off the 35k price?
Anyway, the cap cost was given to me as $32,450.
To lease it for 24 months:
Cap Cost Reduction $0
Money Factor 0.00131
Acq/Bank Fee $595
Residual $24,029.55
Doc Fee $45
Monthly Payment $425.33
Drive Off Pay $1,970.07
which includes
Pay for 1st month $425.33
Acq/Bank Fee $595
Doc Fee $45
Waste tire pay $12.50
Tax rest of drive off pay
Now, my questions:
1. I was told that Acq Fee cannot be reduced, since it comes from the bank. Is that actually true?
2. Residual value, which is 67% was calculated from MSRP, not from Cap Cost (which is actually ok by me, since this makes the difference between cap cost and residual smaller, hence less to pay). But is this correct?
3. Since the only difference between lease and purchase is the acq/bank fee + tax on it, in case if I would want to buy the car, does it not make sense to lease the car for 24 months and then buy it at the end of the lease.
I did read alot of questions on this thread, but any other recommendations will be appreciated.
Thanks for all the help.
2) Residual value is always calculated on MSRP. Lease end value has nothing to do with how much you pay for the car. All vehicles with the same MSRP will have the same lease end value, all variables being equal.
3) It's hard to say what will be cheaper. You'll be paying tax on the lease, then have to pay sales tax when you buy the car at lease end. You have to pay the extra $595 for the acquisition fee, but the effective interest rate on the lease is probably less than what you would pay for a purchase. However, when you buy the car out in two years, you'll likely pay a higher interest rate, as it will be a used car at that time. If your ultimate goal is to own the vehicle, probably better off buying it from the start.
regards,
kyfdx
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So, there is nothing that I can do about this fee?
2) Residual value is always calculated on MSRP. Lease end value has nothing to do with how much you pay for the car. All vehicles with the same MSRP will have the same lease end value, all variables being equal.
Is residual percentage of 67% correct, or the best out there?
3) It's hard to say what will be cheaper. You'll be paying tax on the lease, then have to pay sales tax when you buy the car at lease end. You have to pay the extra $595 for the acquisition fee, but the effective interest rate on the lease is probably less than what you would pay for a purchase. However, when you buy the car out in two years, you'll likely pay a higher interest rate, as it will be a used car at that time. If your ultimate goal is to own the vehicle, probably better off buying it from the start.
When you say that I am paying tax on the lease, do you mean that I am paying tax on the diff between Cap Cost and Residual Value, or something else? Now, if I am buying a new car, I also am paying tax, am I not?
And then, if I will pay cash for the car in 2 years, I will only pay tax on the Residual Cost, right?
So, except for $595 + tax on it, I do not see any diff.
Am I missing something?
2) I don't know for sure.. but the bank sets the residual. The dealer can't change it, so not much to worry about there.
3) A lot of it depends on the local tax laws where you live. Where I live, I pay tax on the monthly payment, then if I buy the car at lease end, I pay tax again on the residual... This almost always ends up being more than what I would have paid if I bought the car new. Your state may not tax the vehicle the same way. What state do you live in?
Again.. $595 for the acquisition fee is an added cost, plus if you have to finance the car in two years, you have an interest rate risk.. You don't know what kind of rate you will get at that time.
It may be that the total cost will be very close, but you are taking a risk. If you buy the car now, you know exactly what the cost will be. But, on the positive side, if you lease, you can walk away in two years, if you decide you want to do that.
regards,
kyfdx
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You are stuck with the bank fee, standard on all leases.
You are stuck with the residual, set by the lease bank and can't be changed by you or the dealer. Always a percentage of full MSRP and most often without dealer installed stuff on it.
As to the lease/buy - run the numbers for yourself.
On the plus side, your lease rate is 3.144% effective, which is much lower than most folks could get on a car loan. The lease payments are lower, but the buyout payments are higher than the loan payment would be.
On the minus side, in most states you pay tax on the payment - which includes interest, so you are paying sales tax on the interest each month. Also, the loan to buy out your (then) used G will be at a lot higher rate than a new car loan would be.
You don't say where you live and what your taxes are, so let us use 7% just to look at it.
$32,450.00 is the car with 7% tax = $34,721.50 less the $892 down payment (was cap cost reduction) gives $33,829.50 loan amount. This works out to 6.35% 60 months $33,829.50 $659.54 = $39,572.40 . So the car would cost you $40,464.40 total.
On the lease, you are out $1,970.07 up front then have 23 payments of $425.33 or $11,752.66 total. Then you take the buyout price plus 7% tax = $25,711.62 . At today's used car rate (we don't know what the rate will be in 24 months) this would work out to 6.65% 36 months $25,711.62 $789.79 = $28,432.44. So you add the total of the loan payments and the lease and the up front and you get $40,185.10.
So using 7% tax as an example, you could come out ahead leasing them buying.
You have to run these numbers for yourself and decide, but it is likely that given the really low MF on the lease you will not got too much wrong doing the lease then buy - plus you have the option of just turning in the car and getting something new.
As I said, the lease payments are cheaper NOW but then jump way up to buy out the car in 3 years. The loan payments are high now and stay that way.
Dennis
Should I buy now or wait a little longer to see?
Thanks,
David
By the way, I live in NYC and am getting the car from one of the dealerships nearby.
I was just thinking that it makes sense to lease the car for couple of years, since the lease interest is much better than the financing interest.
And then the decision can be made AFTER driving the car for 2 years if I would want to get the new car or buy this one.
Serge
I leased an RX-8 a couple of years back and they had $2,000 in lease money AND a really cheap rate - made it a no brainer since my price was $500 under invoice and I had an additional $500 rebate (gross cap with invoice - $3k). The lease is up and the car's trade value is $2k or more under residual - poor lease bank (MAC, in this case). This the FIRST lease car I have ever turned in, in the past I could always sell it to someone during the lease or at the end and make a little money. Lucky for me I didn't finance it, or I would have been paying much higher payments and *I* would be stuck trying to move the car.
There should be little risk in a G, they always have good resale value for the sedans and SUPER resale for the coupes.
The only time it may not make sense is if you live in a state where tax is due on the whole car and maybe then again if you buy it out. So everyone should run the numbers for themselves including tax and see how it works out.
Dennis
"The only time it may not make sense is if you live in a state where tax is due on the whole car and maybe then again if you buy it out."
I live in NYC. How do I know if tax is due on the whole car (I assume that you meant on the residual value of the car - in this case $24K)? Is there site, or another thread on this discussion board, which already talks about this?
In most other states, you pay it as you go.
In some states, the make you pay tax on the whole car - not just the depreciation.
Some examples:
In most states you figure the base payment, say $500 a month, then add state tax to it, say 8.25%, so your payment would be $541.25
In NY, you figure your base payment at $500 a month, the calculate the taxes (8.25% * $500 * number of payments) so the total would be $990 total tax due. You either have to pay is up front or roll it into the lease. If you roll it in, your actual payment will rise by more that just the tax - since you are paying interest on tax.
In a few states, they tax the whole car - say your negotiated price is $37,000 then $3,052.50 would be due (at the 8.25% rate) for the lease. Then later if you decide to buy it off lease end, you may have to pay sales tax on the residual amount to purchase it.
Make sense?
Dennis
Thanks,
Gustavo
If I see all the numbers, I will post them.
Dennis
Great forum...just quoted $32,916 for G35 (i live in eastern PA)
Journey
Premium
Splash
Tire and wheel package
I did qualify for VVP Plan D.
Decent or can I do better/much better.
Thanks.
In most places right now < $300 over invoice from a dealer with no or a reasonable doc fee is a great deal.
Dennis
question.. currently driving an accord... want a sports car.... deciding between 350z and g35 cpe.. have kind of decided on g35... my question is on a decision.... i can find a used g35 cpe <20K miles for ~$30K... but financing thru capital one ~7% i think.. new one c premium package ~$37K otd.... but right now 1.9%.... what works out better.... please help with the math..
thanks
$37K @ 1.9% = $647/mo.
$30K @ 7.0% = $594/mo.
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Edmunds will also show you a "what others are paying" price and that will give you and idea as well.
Dennis
It's a good deal for the G35x right now, yes / no?
For the coupe, no. You could get one of those for invoice or less now that the new G37 is just weeks away.
Just shop for the right dealer and you should be fine. My closest Infiniti dealer has a $500-600 doc fee and adds over $1k of "mop and glow" to each car on a side-sticker. So getting a VPP deal from them is no deal at all. I can drive a little and get the same car, less the junk and fees, and come out tons ahead.
Dennis
Anyway, my wife's eyes were opened when she tried to "special order" a Toyota. Some salesmen said it could be done, some said it couldn't. Some said she would get a call when a car with her specs came in. In the end, we discovered that they simply don't make all possible color and option combinations, and you can't do a "factory order." The manufacturer decides which colors/options to manufacture, and the dealers basically get random cars, or rather, cars with colors and options that in Toyota's opinion, meet the desires of buyers in that region.
That said, is it possible for me to special order a G35 sedan that will be manufactured according to MY specifications? Or am I stuck with choosing only from current and "soon to be arriving" dealer inventory?
:confuse:
Toyota is unique (not in a good way) as they are marketed through a regional systems. And while the spec sheet says you can get all these options, the regional folks decide what can and can't be ordered and what combinations are allowed or required. In fact, last time I was on the Toyota web page they made you put in your ZIP before they would show you the options and details. A few years back my wife was interested in a Toyota and we wanted certain options - could not get a car like that w/o getting a bunch of stuff we did not want. Ditto a friend of mine that was cross-shopping the RAV-4 with the CR-V. With Honda it was simple, pick your trim level and color and buy. He could not find nor order what he wanted from our regional Toyota folks.
As to an order, that should be possible. They can also trade with another dealer to get you the right car. If the dealer is close, they would do this for free. If far and they send a truck you would have to pay a bit more. However, with VPP pricing if you find the car for yourself and that remote dealership (and they honor VPP) you just go get it for the VPP price and skip the extra haul fee. They can also order a car for you, but (as always) they would be happier if you just took one from stock. They DO make a profit on VPP deals - the holdback plus the $275 or so you pay over invoice and then another 2.5% "delivery fee" from Infiniti, so many dealers welcome VPP sales.
There are not that many option choices on the Gs, I don't think, that it would be that hard to find exactly what you want. "Stripped" Gs usually to be ordered as not many dealers will order them w/o at least the premium package.
In my case, I want a 6mt with tech/nav/premium only in certain colors, so I have to wait for my car to be ordered, made, and shipped. If I would have wanted an auto, I would already be driving it
In most areas you just about can't get a G without the splash guards and/or the cargo net. They install them at the port of entry on (it seems) about every G on most lots.
Dennis
I am in NJ and am looking for a G35X with premium package.
So far the best deal i am getting is from Circle Infiniti,
MSRP: $37115
Cash at signing: $2500
Monthly Payment: $450(including 7% tax)
Terms: 39 months 15k mi/yr.
I was debating whether to get the Navigation package or not, with it it would be around $490.
Thanks in advance for your input.
Here's a good starting point. Consider this...
Lease Proposal
Pricing Information
Base MSRP 2007Infinity G35x Coupe (3.50L 6cyl 5A) .. .. . 33,950.00
Premium Package...................................................................................... 2,150.00
Sirius Satellite Radio......................................................................................300.00
Destination Charge 715.00
MSRP .. .. . 37,115.00
Lease Payment Calculation
Agreed Upon Value .. 33,082.43
Acquisition Fee ..... 595.00
Gross Capitalized Cost 33,677.43
Adjusted Capitalized Cost .. .. .... .. .. 33,677.43
Residual Factor .. 0.54
Residual Value (Res. Factor × MSRP) .. 20,042.10
IFS Money Factor . 0.00226
Term (months) 39
Base Monthly Lease Payment .. . . 471.03
State Sales Tax 7.00%........................................................................................ 32.97
Monthly Lease Payment w/Tax .. . 504.00
Initial Lease Charges
Title, Registration, Plates (estimated) .. .. 200.00
1st. Payment ... 504.00
Amount due at lease signing . .. . .. . . . 704.00
GAP insurance protection is included in IFS lease.
No Disposition Fee.
Annual Mileage Allowance: Residual Value reflects an annual mileage allowance of 15,000 miles.
____________________________________________________________
Your MSRP is 37,115. Therefore, you must have another option besides the premium package. I'm guessing a satellite radio. Also, I'm assuming that NJ levies sales tax on the payment streams.
Apparently, you're putting money down (bad idea) and/or have a trade credit. Please, do NOT put money down unless absolutely necessary. A car is a depreciating asset. Furthermore, if your car is stolen or totaled, it's highly unlikely that you'll recover your down payment. Also, I'm not sure about the 39 month money factor. You'll need to confirm this. Look at some of my other posts regarding IFS's treatment of security deposits.
Good luck!
John
So far, I have just been emailing local Infinity dealers to see what are the best numbers I could come up with.
For a G35X with Premium Package, this is the best I have been able to do:
MSRP: $36,815
INVOICE: $33,789
QUOTE: $34,326 ($537 over invoice)
I have two dealerships who have quoted me around that same number and both said that it is nonnegotiable. Obviously, if I go in there I will try to get them down to invoice. I just feel that, living in the Chicago area, I am in a pretty competitive market and I should be able to do better.
Also, Illinois is one of those states that charges you sales tax on the full value of the car. I copied those lease proposals that were shown above and did some calculations but how the sales tax is calculated for our state is throwing me off. The tax percent is 6.75% and I would like to roll the entire tax into my monthly payment, can someone help me out on how to do a proper lease calculation including tax for someone in Illinois?
Lease Proposal
Pricing Information
Base MSRP 2007Infinity G35x Coupe (3.50L 6cyl 5A) .. .. . 33,950.00
Premium Package...................................................................................... 2,150.00
Destination Charge 715.00
MSRP .. .. . 36,815.00
Lease Payment Calculation
Selling Price.... .... .. 33,819.89
Acquisition Fee ..... . .... 595.00
Vehicle Value..............................................................................................34,414.89
Illinois Sales Tax @ 6.75% x Vehicle Value..................................................... 2,323.01
Gross Capitalized Cost 36,737.90
Adjusted Capitalized Cost .. .. .... .. .. 36,737.90
Residual Factor .. 0.57
Residual Value (Res. Factor × MSRP) .. . 20,984.55
IFS Money Factor . 0.00193
Term (months) 36
Monthly Lease Payment ... .. .. . . 549.00
Initial Lease Charges
Title, Registration, Plates (estimated) .. .. 200.00
1st. Payment ... 549.00
Amount due at lease signing ... .. . .. . . . 749.00
GAP insurance protection is included in IFS lease.
No Disposition Fee.
Annual Mileage Allowance: Residual Value reflects an annual mileage allowance of 15,000 miles.
__________________________________________________________________
Here's the payment formula...
Payment = Money Factor x (Adj. Cap + Resid Value) + (Adj. Cap - Resid Value)/Term (months)
I think $537 over invoice is too high. Compare the $33,819.89 sell price above to invoice. One should be able to get this vehicle for just a few bucks over invoice. You didn't mention your desired lease term so I assumed 36 months. My wife likes round dollar amounts; so, I rigged it so that your payment would come out to an even dollar amount ($549.00). She hates subtracting them dang decimals in MY checkbook. At least I'll have a 50-50 chance that it will balance correctly. Questions??? Let me know.
Good luck!
John
What dealerships in Chicago are quoting you $537 over invoice. The most I could get is $1,300 off MSRP!!!
my dealer told me that I can't benefit from multi-deposit, because IFS allows only previous customer to do that. Is it true? I'm in California (if it makes a difference) and this is my first lease.
Thanks
Dio
Thanks!
Dennis
Black on black 2007 6MT G35S sedan,no prem, no nav, only option was lowjack. Qualified with VPP plan D, got me about 225 over invoice
Quote
Invoice: $30,602.90
Tax: $ 2,448.23
Doc: $ 299.00
Reg: $ 550.00
Shipping:$ 700.00
LoJack :$ 350.00
Total: $34,950.13
Could not find a G35s with the spec I wanted so they added 700 to ship it. :mad:
I just bought a G35X in the Chicago area, Nav, Prem, cargo net. Invoice pice was $35,636 and I paid 36,186 - $550 over invoice. I tried shopping around but was limited to colors that each dealer had in inventory. It looks like the X is in liimited supply right now. Emailing dealers did not produce any better offers, in my opinion it's best to go face to face with these guys. I could not agree with you more regarding the value of these forums, I only wish more people would participate!
thanks
Rather than pay $700 for the shipping, I would have picked up a premium pack car and tell them no to the LoJack. That would make it $1050 not having to pay that, which is over half way to paying for the premium pack ($2,025 at invoice on this car). You get tons of good stuff for that money:
Premium Package
- Power sliding tinted glass sunroof with one-touch open/close, tilt feature and sliding sunshade
- Infiniti Studio on Wheels™ by Bose® premium audio system with 24-bit Burr-Brown DAC, single-feed 6-disc CD autochanger with MP3 playback capability, Radio Data System (RDS), and ten speakers, including 3-way component front door speakers with 10-inch subwoofers and a parcel shelf-mounted subwoofer
- Heated front seats
- 2-way power driver’s seat lumbar support
- Memory system for driver’s seat, steering wheel and outside mirrors
- Driver's seat, steering wheel and outside mirror position synchronization
- One-touch auto-up/down rear windows with safety auto-reverse feature
- Power tilt and telescoping steering column synchronizes gauge cluster with column for improved vision
- Automatic anti-glare rearview mirror with HomeLink® Universal Transceiver and compass
- Bluetooth® Hands-Free Phone System
- Heated outside mirrors .
The "studio on wheels" is KILLER audio for an OEM system and is head and shoulders above the base system, then the moonroof, bluetooth, etc. Well worth the extra money of $2,025, but in your case if you take out the shipping and LoJack you are talking $975 more. A "no brainer" to me. Of course, you may be 7' tall and need the no-moonroof headroom or something? A premium pack car will be much easier to sell and be worth more money that a "stripper" down the road as well.
Dennis
Let us know how you make out in case they do deal on the price. I know you need to not ask them, do not show any interest in buying the car and act as if you are going to turn it in. Then if they ask you about it tell them the price is too high and you might think about buying it for a better price.
Dennis
I got a good deal 90 miles away in Modesto for $500 over invoice on a G35S w/Premium. Smaller dealership, but much friendlier and no nonsense. They had my first choice in color (Blue Slate) and options, but not my preferred interior color. Checked entire CA, and there weren't any with my primary choices in colors and options, so I settled for the Graphite interior. Ask for Brian Montoya (Fleet Sales), or Pete (Sales Manager).
Picked up the car this past Saturday--they detailed and filled the gas tank.
John
Invoice
BASE $30,763
NAV $1,624
NAVIGATION PKG
PRM $2,456
PREMIUM PACKAGE
RAS $646
REAR ACTIVE STEER
SG1 $154
PAINTED SPLASH GU
SPT $1,379
SPORT PACKAGE
SRS $302
SIRIUS SAT RADIO
TMA $64
TRUNK MAT
50S $0
50 STATE EMISSION
Freight Charge $700
Total $38,088