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However, isn't the tax rate on vehicles something like 3.17% in VA?
regards,
kyfdx
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- Simon
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.
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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!
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.
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
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?
Thanks
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.
Any feedback on this situation?
- Simon
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.
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.
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.
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.
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.
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?
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.
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?
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.
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
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.
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
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.
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 ...
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.
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.
Sounds like yourself a nice upgrade.
Enjoy!
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.
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.
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.
Car_man
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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%.
Car_man
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Let me know what these prices are and I'll crunch some numbers for you.
Car_man
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Thanks.
How are you breaking down the $5,000. Does it include the first payment and a cap cost reduction, etc?
thanks.