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Infiniti FX35 / FX50 Lease Questions

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Comments

  • sgillmoresgillmore Member Posts: 10
    okay so I spoke with the local Infiniti dealer here in va and they said 100% in no uncertain terms you CAN wrap the tax payment up into the lease in VA. So who's right?
  • kyfdxkyfdx Moderator Posts: 235,188
    The taxes are paid upfront in VA, but you can always add them to the CAP cost, instead of paying them in a lump sum.

    However, isn't the tax rate on vehicles something like 3.17% in VA?

    regards,
    kyfdx
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  • sgillmoresgillmore Member Posts: 10
    Okay so if that's the axe couldn't the by dealer do that then? What am I missing?

    - Simon
  • jxlxrjxlxr Member Posts: 61
    Yes, that tax is actually 3% on autos.

    The VA dealer is correct, while you do have to pay the tax upfront, nothing is stopping you from financing it by capitalizing it in the lease. It is no different than many leases that add the bank fee back into the cap cost to get that true no down payment lease.
  • jxlxrjxlxr Member Posts: 61
    It shouldn't be that hard. Just ask the dealer to tell you what the selling price is. Once you have that tell them that you want to add the tax back in, adding it to the sales price. They will be paid that extra amount by the bank and hence then submit to VA.
  • kyfdxkyfdx Moderator Posts: 235,188
    An uncooperative dealer?

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  • caleasecalease Member Posts: 5
    What's the deal with lease rates on the FX50 in southern california? There are a few dealers who have them in stock, but they are pretty hard nosed about dealing. What are the money factors and residuals? I understand that I can get a pretty good deal on an FX35, but I want an FX50. Any help would be appreciated!!
  • koolbrezkoolbrez Member Posts: 9
    Car Man, thanks very much for your response. I have checked out the articles, etc. you suggested and many more.

    As for the MSRP $49,000+...I was recently informed by the salesman that athough I listed the Touring package in my e-mail's...he thought the Touring package was part of the Premium package. Hence, his incorrect and very low selling price!

    I also had a salesman at another dealer in NJ recently change the deal. The MSRP of $50,160 was correct with premium, touring, cargo area protector & organizer & splash guards, 12K/39 month lease. He was selling me the vehicle at $45,600 invoice price... finally agreed to take the 2K loyalty cash off the SP... after many e-mail's back and forth. Thanks jxlxr for all of your helpful info!! After getting ready to close the deal and discussing everything with this salesman...he then realized that he did not have the first or second color choice we discussed. He did have with the Tech and Navigation package. However, he informed me that as this was a different deal...he wanted 4K down and would not take the 2K loyalty cash off the SP. I told him no way.

    Another sales manager in NJ just gave me this quote MSRP $50,160, sell price before the rebate $47,150...after he deducted the 2K rebate net sale cost was $45,150. Too high based on invoice price and my 2K cash loyalty.

    I always re-confirm my conversations etc. via e-mail. From my communications with NJ salesmen over the past few weeks... these people like to play games. I am now planning to check out dealers in NY, CT and other states. Any recommendations will be very much appreciated.

    I need to lease an FX35 before June and don't have time to play games. All I'm looking for is a good price with my 2K loyalty deducted from the selling price. Any additional help or suggestions will be very much appreciated. Thanks again!
  • hbo1nyhbo1ny Member Posts: 24
    Carman:
    Does IFS do 18K and 20K annual leases? If so, do you know what the current residual and money factor rates are for an 09 FX35 AWD for 36 and 39 months? Thanks.
  • caleasecalease Member Posts: 5
    Anyone have the current money factor and residual values for the FX50? I am looking at a 10k annual 39 month lease. Thanks.
  • sgillmoresgillmore Member Posts: 10
    So here is the latest update on the issue with the new york deal attempting to adjust the 'deal' after the fact.

    To review the original lease deals was as follows:

    fx35 with all five optional packages

    - final price of vehicle 51,934.76
    - 39 month term
    - 15k miles
    - Approximately 2500 for VA taxes
    - 1000 down at drive off
    - 662 monthly payment

    The called saying initially that infinite 'rejected' rolling the taxes into the lease. After much back and forth they said that after talking to infiniti they could in fact roll the taxes into the cap cost of the car. However this 'changed' the deal. Bear in mind this is after everything was signed, and we have driven away with the car.

    They now say the deal would look like this:

    - final price of vehicle 51,934.76
    - 39 month term
    - 15k miles
    - Approximately 2500 for VA taxes
    - 1000 down at drive off
    - 699 monthly payment

    So they are proposing adding on about 40 dollars to the monthly payment

    After asking how they did the original calculation they stated they had estimated the taxes based on a 39 month lease at 630 payment, bringing the monthly up to 662. So somehow they estimated taxes on a 24,500 total payment over the life of the lease, so effectively 1228 dollars of 'tax payment'.

    This doesn't make total sense to me as I'd assume they would be familiar with rolling the full tax payment into the price of the vehicle.

    So a couple questions here:

    - Does this seem right, I.E. so these 'new numbers' look like a 'good deal' still or are they trying so somehow recoup some of the cost of the car?

    - If they did roll the taxes in as they should have, is that $662 dollar monthly payment still attainable, or is that just to low given the car, it's final price and packages?

    - Is this even possible, should they have to eat the mistake and absorb that additional cost which they claim was miscalculated?

    Thanks in advance for the review.

    Simon
  • jayrandalljayrandall Member Posts: 81
    A buddy of mine got offered the following deal:

    He has 4 payments remaining on his current FX35 lease (about $2,350 total). The dealership has offered to off-set his remaining payments and will cut him a check for $700 when he signs his new lease deal (see below). His current car would be 'grounded' at the dealership and then he would receive a final invoice from Infiniti Financial Services the following month and conclude the final payment.

    His new lease deal is for an '09 FX35 AWD, with the Premium package, Nav and Deluxe Touring. MSRP about $51,480 and he got the car down to invoice (about 47k) and he is getting the customer loyalty of 2k. 10k miles a year, $1,500 down and his monthly payment inclusive of taxes is $600.00, 39 month term.

    He can't decide if taking on the new lease is smart, even though the dealership is helping him payoff the previous lease.

    Thoughts?
  • abukiabuki Member Posts: 7
    Hi jxlxr, can you let me know which NY dealer you got this from?
    Thanks :)
  • alisalimalisalim Member Posts: 4
    2009 fx 35
    Premium pkg
    Nav pkg
    deluxe pkg
    Tech pkg
    DVD entertainment
    splash guards/cargo organizer/wheel locks/ Nitrogen in tires
    MSRP 57314
    Purchase price 52500
    39 months/15k/(2000 loyalty cash as money down) no down from my pocket
    702/month with ohio tax
    residual 50%, Money factor 0.00091

    I thing that is a reasonable deal, what do you guys think.
  • sgillmoresgillmore Member Posts: 10
    Hi All,

    Any feedback on this situation?

    - Simon
  • coolguy8157coolguy8157 Member Posts: 29
    Your deal looks ok I believe....
    this is what I was offered when I bought mine on 04/04.
    AWD, Prem, Nav, Tech, Deluxe, Splash, cargo, Illuminated kickplates
    39 month/15000 miles, WA tax 8.4 %, selling price 52200, 2500 down, 2000 loyalty rebate and $655 monthly payment.

    but I decided not to go for the Tech..and got everything else but the tech for
    47960, 2500 down, 2000 loyalty, WA 8.4 tax rate, $606 monthly.
    Hope this helps.
  • jayrandalljayrandall Member Posts: 81
    2009 FX35 AWD

    MSRP - $51,435 (includes Premium, NAV, Deluxe touring, cargo carrier, splash guards)

    Base Cap cost (invoice) $47,055

    subtract $1,500 (down payment) and 2k loyalty.

    Monthly $600 (39 month term, 10k miles per year)

    Residual 52%
    Money factor .00091
    LA County tax of 9.25%

    Thoughts? I thought the monthly was a bit high.
  • eoseireeoseire Member Posts: 142
    I ran the numbers here for you and came up with $494.97 +$45.78 tax /month.
    Check yourself here http://www.leaseguide.com/calc.htm
    Also here is the formula for a lease

    Lease Payment Calculation Formula:
    (Cap Cost – Residual Value) / Term = Depreciation
    (Cap Cost + Residual Value) X Base Rate = Interest
    Depreciation + Interest = Base Monthly Payment

    Terms Used in Lease Formula:
    CAP COST = Vehicle Purchase Price (amount financed)
    RESIDUAL VALUE = MSRP (window sticker) X Residual %
    TERM = Length of Lease in Months (3 years = 36 months)

    $600/month is too much.
  • eoseireeoseire Member Posts: 142
    jayrandall, I'm assuming the $1500 down payment is cap cost reduction and not to cover fees. If it is not cap cost reduction then I'm getting $534.80 + $49.47 tax / month =$584.27
  • lacucina_cheflacucina_chef Member Posts: 10
    hello folks, my lease is coming to end end of the year on fx 35 2008, my concern is if i can get the same payment for the same vehichle that i have right now. 465+20 tax = 485$ per month, the question is can infinity do the same for the current model. i m looking to pull the triger by nov. any though thanks.
  • breesbrees Member Posts: 8
    Hi,
    I am looking to lease an fx 35 with a couple weeks; i have receievd 2 offers can you let me know if it is a good deal?

    2009 Infiniti FX

    Umbria Twilight / Graphite

    Premium Package

    Navigation

    Deluxe Touring Package

    Splash guards

    Roof Rails



    5000 total due at signing

    15,000 miles / year

    569 / month

    42 months.

    Deal #2
    Umbria Twilight

    Graphite interior

    Premium Package

    Navigation Package

    Luxe touring package

    Splash guards



    Your price $50,000

    39 month lease

    15,000 miles / year

    5,000 down at signing =625

    thanks.
  • jayrandalljayrandall Member Posts: 81
    Dude - there is no way my deal is off by $100. First of all, I use the same site as you (http://www.leaseguide.com/calc.htm ) and came up with $580 with tax. I figured the dealer is off by about $20-25 a month - that's it.

    And you didn't even list the correct terms (it's 39 not 36) although I realize this would only further reduce the monthly in your scenario.

    By the way, who could possibly follow your Formulas ... too confusing.
  • jayrandalljayrandall Member Posts: 81
    Now the numbers make sense to me.

    The $1,500 is my first payment ($600), and the acquistion fee ($565) .... the balance ($335) is part of the cap cost reduction which brings that amount to $2,335. (Not 2k + 1,500 as I initially listed).

    Now the numbers 'work'. With LA county sales tax at 9.25%, my total shows $600 per month.

    RIGHT?
  • eoseireeoseire Member Posts: 142
    Sorry for trying to help you!

    Firstly I never said you were off by $100.

    I said either $59.75 or $15.73 a month depending on what the $1500 was doing to the cap cost.

    The formula is basic math.

    The 36 months reference is just as an example. I would have thought that obvious.

    Here the formula in action based on the new info you provided

    Cap cost= 47055 - 2000 - 335= 44720

    Residual Value = 51435 x 0.52 = 26,746.20

    Depreciation = (44720 - 26,746.20) / 39 = 460.87

    Interest = (44720 + 26,746.20) x .00091 = 65.04

    Base Monthly Payment = 460.87 +65.04 = 525.91

    LA County tax = 525.91 x .0925 = 48.65

    Total = 525.91 + 48.65 = 574.56

    This is not rocket science.
    I was only trying to help you out. Didn't want to see you get ripped off and using the faulty info you originally gave you were!

    I ran the new numbers through the website calculator and got exactly the same number as above. If you don't you're doing something wrong.

    By the way that calculator is buggy. If you go back a step and then forward again it doesn't always give the correct result. You have to go forward step by step to then end without stopping to get an accurate result.

    So if you want to pay an extra $992.16 over the life of your lease by all means pay $600/ month. I'm sure the dealer will be happy.
  • jayrandalljayrandall Member Posts: 81
    ok, thanks for the further explanation. But here's the latest: The dealer told me last night to 'take a walk' because the deal will not get any better.

    He went on to say that he is making 'almost nothing' on the deal. And according to another dealer whom I cross referenced my numbers with (Santa Monica Infiniti), they also confirmed that my offer was solid and they could not do any better either.

    So unless you are speaking to me as a dealer, somewhere your numbers are slightly off. Maybe my dealer is taking a small profit (less than $350) and he isn't disclosing it to me, but according to him the offer will not get any better.

    Are you a dealer?
  • eoseireeoseire Member Posts: 142
    I'm not a dealer. The numbers as you can see don't lie. There must be some number in the deal that you are not providing here or that you have overlooked.

    The MF and Residuals you have are correct as I got the same number from my dealer in NY.

    I suspect your missing some numbers such as the destination charge because when I spec'd the car as you describe on Edmunds I get a MSRP of $51820 plus. an $865 destination fee.

    Ask him does the MSRP included the Destination Fee. Also are there document fees, DMV etc. He might be rolling these into your payment. Tell him you're just trying to understand the numbers. Be polite about it.

    I think the deal seems good if you missed the destination fee and any other fees.

    I get $582.08 if you add the $865 destination fee into the payment.

    You mention an acquisition fee of $565 which I guess is the Bank Fee. That's normally $595 in my experience.

    You need ever number documented in order to figure these things out.

    Tell you just want to understand it all as it's a lot of money especially in this economy.

    Good luck.
  • dpeck1dpeck1 Member Posts: 51
    Cost - 50,160 (premium, touring and trailer hitch)

    CAP - $46,184

    MF .00101 Resid. 50%

    Term 39 months, 15K miles per year

    They are quoting $606 per month with $1452 (bank fee and first month) out of pocket plus DMV fees. Taxes are in payment - Westchester County, New York.

    i am a returning Infiniti leasee. Not sure if they applied the $2,000. Also, isn't there an additional $1,000 conquest cash (I also have an Audi).?? Any factory to dealer cash? Holdback?

    I think the payment is too high. Help.

    D. Peck
  • jayrandalljayrandall Member Posts: 81
    The MSRP is definitely $51,435.

    I just spoke to an assistant sales person, and there is a doc fee of $150 and a disposition fee of $350. With these two items, I am 'guessing' that he is also adding $350 of profit so perhaps that is how you are seeing the difference in the numbers???

    $150
    $350
    $350

    But even if he is making a $350 profit, there is nothing I can do about it. If I don't like the deal, I need to find a different dealership. He won't lower the price bad economy or not.
  • slurislurislurisluri Member Posts: 6
    How does this deal sound,

    This car is an old sticker car (before the msrp was raised) so with AWD, and Premium it is stickered at 45K and change

    The deal is
    1500 drive off, out of pocket
    4500 for multiple security deposits (which i get back at the end to reduce money factor)
    39 month 15K lease
    monthly including taxes 490 in PA

    how does that sound, this includes the 2K owner loyalty cash for the lease.

    thx
  • eoseireeoseire Member Posts: 142
    I think you found your answer. That's another $450 that was missing from your original information.

    So now the numbers work out at $587.60

    I think it's as good as your going to get.

    Why don't you just ask for a print out with everything detailed so you can review it.
    That's what my dealer here in NY does. It's completely transparent.

    Are they quoting you exactly $600? If so over the life of the lease they're making $483.60

    It seems a good deal to me but it's good to have all the numbers so you can assess it for yourself.

    The reference to the economy was so that they would understand why you where being so specific about getting the details and look what happened ever time you've asked more questions. There nothing wrong with being an informed customer.
  • jayrandalljayrandall Member Posts: 81
    Get this - I just spoke to the finance manager and he said the dealership has to pay the rent too, and he referenced $500 in the same breath. LOL

    Yes, it is exactly $600 a month, so they must be making slightly less than $500 over the life of the lease.

    I don't feel like it's a poor deal for me, the sale price is close to invoice, and I essentially put very little done and got 39 month terms.

    I would sleep ok over this deal ...
  • eoseireeoseire Member Posts: 142
    Well there you go!

    The mystery $500 !!!

    Pity they just couldn't be straight with you in the beginning. They just didn't expect you to run the numbers.

    I'd still want to see everything printed up so there are no surprises on the day you go to sign the contract.

    Just goes to show it doesn't hurt to ask questions.

    If you're happy with the numbers now that you know the score then go for it.

    It's a sweet car. I have a first gen. FX currently and love it.

    Enjoy it.
  • jayrandalljayrandall Member Posts: 81
    ya, thanks for the words of encouragement. I plan to pick the car up tomorrow night, so I will see the numbers in writing and go from there. btw - it's Liquid Platinum with the Java leather. Really smart looking in person. (I don't think the new model photographs particularly well) LOL

    What year is your FX? I had an '06 with Sport and Touring packages. Great, fun drive. But the new model takes the vehicle to a new level. In my view.
  • eoseireeoseire Member Posts: 142
    I have an '07. Have to change it in a few months.
    Sounds like yourself a nice upgrade.
    Enjoy!
  • dpeck1dpeck1 Member Posts: 51
    According to Automotive News, a trade publication, the following was listed as DEALER INCENTIVES.

    NISSAN NORTH AMERICA
    Expires June 30.
    2009 models
    Infiniti QX56 $6,000

    FX50, M45 $5,000

    FX35, M35 $4,000

    G37 $2,000

    I assume that the $2,000 loyalty cash, which is a customer incentive, is also available.
  • navboynavboy Member Posts: 32
    Thanks! I have a question:

    1) Can the $4,000 FX35 incentive be applied toward a lease (even partially)?

    I am trying to work a deal, and find that if i can get a $2,000 loyalty discount, and another $3,000 discount, on a lease, I could afford an fx35.
  • jayrandalljayrandall Member Posts: 81
    You definitely cannot combine the 2k loyalty discount (which is for leases) along with the discount off MSRP. That discount is for a purchase of the vehicle. You have to negotiate your sale price and then you get the 2k loyalty.

    Also, there are great finance programs from IFS as well, but you cannot combine a low APR offer with a reduced MSRP either.

    It's either 2k loyalty on a lease (w/ good money factors right now) or a purchase with either a reduced MSRP or low finance APR.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hbo1ny, sometimes programs change at the beginning of a new quarter and sometimes they don't. Apparently IFS' lease program for the FX35 is still the same as it was last month.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi funtodrive1. Infiniti Financial Services' April buy rate lease money factor and residual value for a 36 month lease of a 2009 FX35 AWD with 12,000 miles per year are .00092 and 52%, respectively. The numbers for an otherwise identical 39 month lease are .00091 and 51%. If you were to lease with only 10,000 miles per year, this vehicle's residual values would be 1% higher.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello calease. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Infiniti FX50 with 15,000 miles per year are .00116 and 48%, respectively. The numbers for an otherwise identical 39 month lease are .00116 and 47%. If you were to lease with only 12,000 miles per year, this vehicle's residual values would be 1% higher. Its 10k resids are 2% higher.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey calease. Please see my previous post for the information that you're looking for.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey hbo1ny. The highest mileage allowance that Infiniti Financial Services publishes residual values for is 15,000 miles per year. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty.

    IFS' current buy rate lease money factor and residual value for a 36 month lease of a 2009 FX35 AWD with 15,000 miles per year are .00092 and 51%, respectively. The numbers for an otherwise identical 39 month lease are .00091 and 50%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lacucina. I would be happy to use Infiniti's current lease program to work up a sample lease payment on the exact FX that you are considering replacing your current one with if you provide me with its full MSRP and selling price. If you don't know what sort of selling price to shoot for you can replace that number with its dealer invoice price. These prices are available right here in the New Vehicle Pricing section of Edmunds.com.

    Let me know what these prices are and I'll crunch some numbers for you.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi navboy. Infiniti is indeed providing $4,000 dealer cash on the 2009 FX35 right now. Unfortunately, this cash is not compatible with its special lease program. The $2,000 loyalty cash that you mentioned is available on leases however.

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  • breesbrees Member Posts: 8
    A dealer told me that Infiniti is not producing any new 2009 models untill june 2009 has anyone heard that? and what can that mean - make demand higher or what. Please answer anyone. :confuse:
  • jayrandalljayrandall Member Posts: 81
    Sounds right to me. Based on my recent experience, the inventories are very slim around the country. And there was never any comment as to when new cars would arrive, but it was clear (in my experience) the dealer was not expecting deliveries of new cars any time soon.
  • breesbrees Member Posts: 8
    I was told that Infiniti just started doing this to "be exclusive" they do this to re evaluate the cars performance in the market and push other models - I am so confused i have a deal right now FX 35 2009 15,000 miles 569 a month 5k down car is loaded with prem/ nav/ deluxe touring and splash guards i am not sure if this is a good deal or not Jayrandall from your experience what do you think? please be honest- by the way this is in Houston, TX

    Thanks.
  • jayrandalljayrandall Member Posts: 81
    Sure. I don't have a problem with your monthly payment, but 5k down is too much. Are they selling you the car at invoice price? And does the $569 include tax?

    How are you breaking down the $5,000. Does it include the first payment and a cap cost reduction, etc?
  • breesbrees Member Posts: 8
    I am not sure - but the dealer did say they were having a no tax lease program and i want to assume that it includes the first payment cap cost reduction i will find out and let you know -

    thanks.
  • jayriderjayrider Member Posts: 3,602
    Would you be eligible for the 2k lease loyalty if you were turning in a murano.? The lease contract is with nissan/infinity.
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