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Comments
1500 down (includes the 1st month) than $499 for 21 mths
sound like a good deal?
Stay calm. It's very easy to calculate a lease. Use this link at edmunds and print it out. If your not going to negotiate over the phone, then bring this step-by-step guide and a calculator. The most important thing is negotiating the car price and making sure the dealer is using the correct residual and money factors. After that, the numbers work themselves out. If you have any specific questions, I'll try to help.
http://www.edmunds.com/advice/leasing/articles/48365/article.html
Sal
I just checked Edmund's FX35 page and they state that there is a $1000.00 in dealer cash now. Everybody should get their dealers to accept at least $500.00 BELOW invoice if they can. Stay strong and fight hard!! Good luck to all!!
Sal
Also, as a general question to all, is it worthwhile to figure in and bring up dealer holdback during lease negotiations, or does this just tend to antagonize the dealer and make them dig in their heels more?? Thanks.
44525.00(MSRP) X .72 (RESD) = $32,058.00
$41,480.00(SELL PRCE) - 32,058.00= $9,422.00 / 36(TERM)= $261.72
$41,480.00 + $9,422.00= $50,902.00 X .44= $223.96
$261.72 + $223.96= $485.68 X .8375(TAX)= $526.35
This is so simple but i have to admit I keep getting stuck :sick:
taking the sell prce + resd val= then multiply the MF...
oh dear they are going to eat me alive... but this deal don't sound to great I am going to try a 21 month (do infiniti have 24 month leases?) and HAGGLE some more...
oh boy wish I had an accountant for this elementry math haha ha no but really maybe because I am scared it feels like I am getting married and as the days get closer to me meeting the dealers I get all crazy feelings maybe when the time comes I'll get HITCHED!!!!
OH DEAR JUST WHEN I THOUGHT I WAS PASSING MATH 101....
41,960.00 x .72 = 30,211.20
37,455.00 - 30,211.20 = 7,243.80 / 21 = 344.94
37,455.00 + 7,243.80 = 44, 698.80 x .44 = 196.67
344.94 + 196.67 = 541.61 x 7% (37.91) = 579.52
he was told 471.00 including taxes, then you said according to his numbers it should be 452.40... I am not trying at all to cause ANY problems I am just trying to make sure I as a female do not get gobbled up by those fast talking, in the blink of an eye changing number's, not willing to give you your rebate or incentives dealers, I feel like they are big fire breathing dragons that stop the princess from being rescued by her knight and shining armor oh please help me :confuse:
Do me a favor and tell me exactly what model and options you are planning to get. I want to see what the actual invoice price is versus the MSRP. Then I'll try to give you numbers to shoot for. I think your sell price is too high for the MSRP listed. I would recommend the 21 month lease because the interest rate is so low (and I don't want to have to replace those tires....they are big money). Thanks.
Sal
P.S. - Your money factor should be 0.00044 not .44
Yes, dealer incentives definitely apply to leases. When you are negotiating the car price, try to get it for at least $500.00 BELOW invoice (if not better). This excellent selling price, high residual, and low interest rate make for an attractive monthly lease payment for an expensive vehicle. Good luck.
Sal
Please let me know if Im getting a good deal
Navigation w/Sirus Sat Radio, Touring, roofracks, blk on blk
1500 down (includes the 1st month payment) than $499 includes tax :confuse: for 21 mths
Good luck tomorrow and let us know how you make out.
Sal
P.S. - You can mention that you found out about the factory to dealer incentives this weekend and feel that you should be able to get a better price.
He said he went off their "lease/profit" sheet
and that im 25$ below invoice...this was as of this past friday
Can you take a look at what I sent him:
2007 FX35 AWD Black interior & exterior
Options: Touring & Hands free
MSRP: $41,960.00
Sell: $37,455.00(this includes that incentive $1,000.
Term: 21 months
Residual: 72%
M.F: .00044
Down Pymt: $1098.00
Taxes: 8.375%
Acquis fee: $595.00
This is the deal that I am going to aim for... do you think I should try to throw in the Navi as well... looking at the recent post above I may be able to :confuse:
I would like to express how I really APPRECIATE your help, it really means a lot to me to know that there are other humans that you can turn to for help and who genuinely gives it so freely, I really am greatful
NOW let's get back to number's... so from my info above is there a way that I can calculate the monthly payments and is MY negotiating too far fetched ?
Are my monthly payment's $586.96 including the sales tax of 8.375% ??????
Please say that I am right!!!!
I tried the leasing formula everything checks out well I yes I just get stuck on the MF you stated that it's not .44, oh gosh I HAVE to get this right by tuesday.
Maybe my adrenaline is too pumped up it's stopping me from using my common sense and I am not even @ the dealer yet :sick:
okay I gotta go...
No, something is wrong with your math. That's way too much. Let me try to break it down for you.
MSRP: 41960
INVOICE: 38524
NEGOTIATED PRICE: 38000 (about 500 below invoice)
RESIDUAL: 41960 X 0.72 = 30211.20
TOTAL DEPRECIATION = 38000 - 30211.20 = 7788.80
(NOW DIVIDE THIS BY 21 MONTHS = 370.90)
TO CALCULATE THE INTEREST: 38000 (NEGOTIATED PRICE) +
30211.20 (RESIDUAL VALUE) = 68211.20 NOW MULTIPLE THIS
NUMBER BY THE MONEY FACTOR 0.00044 = $30.00
ADD THE MONTHLY DEPRECIATION (370.90) + THE MONTHLY INTEREST
(30.00) = 400.90/MONTH
NOW ADD IN THE TAX: 400.90 X 1.085 = $434.37/MONTH
So your monthly payment should be about $434.37 per month. Even if it's a little more, it's a strong deal. Your start up charges should be about $1400 to $1500 (depending on your states DMV charges).
If you decide to get the Tech package, MSRP goes to about $46000. Shoot for about $480.00 to $490.00 per month with only $1500.00
inceptions. Good luck and let me know how you make out.
Sal
$48,310.00 - MSRP
$43,837.00 - Invoice
$44,099.84 - Selling price
$95.00 – DMV Registration Transfer
$595.00 - Acquisition Fee
$44,789.84 - Total Cap Cost
0.00044 - (1.06%) Money factor
$34,783.20 - (72% ) Residual value
$10,006.64 - Depreciation / Amortized Amts
21 - Number of Lease Payments
$511.52 - Base Monthly Payment
$30.69 - (CT 6%) Monthly Sales Tax
$542.21 - Total Monthly Payment
$299.00 - Doc Fees
$17.94 - Taxes
$859.15 - Total out the door (1st Mo, Doc Fees and Tax)
Plus
$542.21 - Infiniti Limited Engagement Summer Event 1st Payment Credit. Event ends July 25 and was an exclusive offer for resigning a new lease with IFS I received in the mail last week.
Fx35 with Touring,
Hands Free and Tech package w/Sirius. Please see Below.
MSRP $46.625
Invoice $42,947
Cap Cost $42,700
Residual 33,570 (72%)
Money Factor 0.440
Bank Fee $595.00
Ny Lic $155.00
Doc Fee $ 135.00
Gap is Included
Based on the above numbers, the monthly payment would be $529 month with a total due of $1098. This is a 21 month lease with 12000 miles per year
There is something wrong with his NY lic fee and money factor.
The other qoute I asked you to disect, the dealer tells me it's only good for yesterday (7/2/07) when we schduled an appointment for today (7/03/07) so now this mourning he says that he has to see the new programs for July 07 at 1-4pm :mad: , so if a customer comes in and want to lease a car is he going to tell him come back between 1-4pm? I guess I will be looking for those programs via internet. :mad:
That's the exact same model that I have (same MSRP). My payment is $493 per month and I handed them $1500 at inception. I think you could do better with the dealer incentives now in effect (as long as the lease rates stay the same). Invoice is $42571. The dealer let me have it for $42096. Try to haggle a little more. If the lease rates don't change, try to low-ball them. Offer $475 per month and see what they come back with. Can't hurt. :P
Let me know how you make out. Good luck.
Sal
:mad:
I don't think that the lease rates will go up. In fact, the purchase finance rates recently went down to 1.9% for 60 months. To be honest, you don't have a bad deal on the table.....I just think that they could do better. Hell, when I contacted the first dealership, the goofs quoted me $699 per month with $1550 down. NOW THAT IS ROBBERY! Of course, they didn't get my buisiness.
Im due to pick up late tonight and want to know if i should be addressing this prior.
Any help is greatly appreciated !!!
Thanks
Residual: 72% (June) --> 67% (July)
MoneyFactor: .00044 (June) --> .00026 (July)
The money factor / interest rate has gone down (a good thing), but the residual has also dropped significantly (a very bad thing). If you were to use the example on their website ($3k down, $2k over invoice), that results in:
-$12/month due to the lower interest.
+$86/month due to the lower residual.
-----
+$73/month total
That's a HUGE increase over last month (disclaimer: the previous months numbers here are for a 21 month, not a 24 month lease -- the residual value may be 1% higher for a 21 month). Argh! I had just decided on this one, too!
I'm about to sign for a 21 month lease on a '07 FX35 AWD.
Sports Pkg
Tech Pkg
Touring Pkg
12K miles
$461 per month (first month)
$835 Tax
$78 delivery fee
$187 proc. fee (They wanted $345 but cut it in half)
$595 bank fee
$45 dealer fee
$22.5 misc. fee (No idea what this is)
Total out of pocket $2,223.5
Am I leave money on the table? Could I get a better deal?
Sal
Am I realistic thinking I can get this FX for around $500/mo for 24 months 15k mi/yr? The lease calculators say I can.
2007 FX35 AWD w/ Touring & Misc
MSRP = $42425
Quoted CapCost = $39,483
Invoice = $38,878 (from Edmunds.com)
Residual = 67%
Money Factor = 0.00026
Bank Fee = $595
License Fee = $15
MI Tax Rate = 6%
Calculated Monthly = $489
Quoted Monthly = $507
Here's how they're making their money:
CapCost Mark-up = $605 over invoice
Doc Fee = $199
Monthly Add-on ??? = $18/month
I really, really hate dealing with dealerships. :P
Also, the above rate is for 12k. -1% Residual for 15k. I can't believe that the residual dropped by 5% in a single month! That's ridiculous!
I also received info for the 2008 today. For 24 mos / 12k, the residual is 70%, money factor is 0.00237 (or 5.69% APR) and they expect to get them in August (not late July).
I'm bummed. I so wish I had jumped on this deal in June... it was fantastic at that point. The new residual really makes this not nearly as good. I may wait for the 2008, but the high APR makes that not as good either.
Argh. So much for an Infiniti.
Would you please tell me what the Residual and Money factor is for a 24 month lease and 12k miles for a 2007 FX35 2WD with tech, touring, sports, handsfree?
A dealership told me the residual is 66% and MF is .0010.
2007 FX35 AWD
$529 a month excluding tax
39 months lease
$0 due at signing
$0 security Deposit
10k miles per year
Do I need more info or is this good enough to make a decision?
Thanks for your comments.
MSRP: 46,875
Cap Cost: 42,792
Down Payment: 1100 (includes first month payment)
Tax: 6.5%
Monthly payment: ~$519 (exluding tax)
Montly payment: $555.83 (including tax)
Residual: 66%
MF:?
12K miles a year
I am still trying to figure out the MF. As I posed above, .0010, seems to high, because when I run it that MF, I end up with a $604
Quick question. Is there a website where average Joe's can look up lease program rates for Infiniti, Acura, Audi, etc...without having to constantly bug you?
With respect,
Nauser
mf .00150
residual 54%
no cap cost reduction
only out of pocket is 1st month, and tags
15k miles/year
Selling Price of $40467.62
Am I getting a good deal or should I be asking for more? Any thoughts are appreciated.
FX35 w/ Touring, Hands Free, Cross Bars, Splash Guards, and Carog Privacy for...
1. MSRP = $42,425
2. CapCost = $39,483
3. Invoice = $38,878
4. MF = 0.00026
5. Residual = 67.00%
6. Per Month = $533.56 inc. 6% sales tax
For a 24 month, 12k per year lease.
If you're keeping it for 39 months, you should be paying even less.
I just finalized my deal, which I described up. To recap, I am getting a FX35 2WD with tech, touring, sports, handsfree, cargo, splash guards for $555.83 (sales tax at 6.5% included) a month for 24 months at 15k miles per year. My down payment is $1100. Which includes the first month payment.
My selling price is $42592 and MSRP is $46,875.
Also, I remember with a 39month lease, you more than likely have to replace the tires, break pads, and the 30k miles service, which I hear is quite expensive. When you factor those costs in, the 39 month gets to be quite a bit more expensive.
Also, if I made down payment just the 1st month payment, then my monthly payment would be ~$593 (including tax)
Just my opinion.
Any further ideas are welcome. Thanks again.