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$1500 below invoice for the sedan? If so then I have a long way to go but most if not all of the posts here that I have seen are over invoice (for the sedan). Can anyone else confirm the $1500 incentive for the 07 sedan?
I should have specified that the $1500 cash incentive applies to coupes only. Sorry. I incorrectly assumed you were considering a coupe. However, the '07 sedans should be selling close to invoice.
John
You are wanting to sell your Z off lease to someone else, right? You can work with the folks at leasecompare.com to do this for a modest fee (a few hundred) and that would include contracts, paperwork, and even a temp tag for your buyer. You supply the buyer and they take care of the rest.
You can check to see if someone local would do it as well, but due to (some places) business taxes and other taxes on inventory they may not can do it for any reasonable fee.
Dennis
I took the car to carmax and their appraisal is for more than my current buyout. You can probably come out well ahead (don't know what your residual is but if it's like mine) if you arrange your own buyer and get a licenseed dealer to do the transcaction for you.
The carmax offer is good enough for me to get out of the lease now (2 months early) and still pocket a couple hundred $$$. It's worth looking into as it makes things alot easier if you don't have to try to get the infiniti dealer to handle it and you don't have a buyer.
- Can I bargain with Nissan regarding my lease buyout price?
The first question should be something you get straightened out with IFS now - BEFORE you agree to any extension. They should allow you more miles (not that you need them) and also reduce the residual. They SHOULD, but I don't know that they HAVE to do that. If they do not, then that would really be tossing the money away - depending on your lease money factor.
Almost all lease banks now carry residual value insurance on their leases to cover them in case the lease turn in car does not bring enough at auction. If they drop the price to sell you the car they void the insurance do not collect so it is usually smarter for them to let you turn it in and roll it through the auction. It will bring in less money than making you a good deal, but then the insurance kicks in and makes up the (or some of the) difference.
Dennis
In some areas deals on the G35x sedans can be hard to get as well.
Dennis
Assuming it is the same way everywhere, if you can pocket some cash on your lease car selling it to Carmax then it REALLY is worth more money - and may even be an OK deal to trade it in at the Infiniti dealer in a pinch.
For the most profit with the most hassle, find a buyer and make more money but at you mentioned you have to go through a dealer to avoid in the double tax hit IN MOST STATES.
Dennis
Just want to make sure I'm being offered the correct number, based on what the current lease special is (39 month/ $389/month with the $3840 down advertised by infiniti for journey with ) and working back I'm getting something in the high .0019x range yet I was offered .00227. Granted these things can be hard to figure as you don't know what asusmptions they make (like is the $595 lease fee accounted for or not).
Knowing the official number would help greatly, the ~$20/month adds up over 39 months...
I would scan all of them for similar cars and what the asking prices are - keep in mind that the cars still listed did not sell (yet) at that price. On ebay you can scan the current and closed auctions to see what folks are paying for similar cars. Then you know you what kind of pricing seems to sell the car - or you just undercut the listed ones with a nicer price to get folks to ask about yours. If you can't live with that undercut price, then maybe just turn it in or whatever and move on. You for sure have to undercut any dealers running ads as 99% of the folks calling will want/need financing and/or have a trade - something the dealer can "take care of" for the buyer. I (personally) would always rather look the seller in the eye and talk to them about their car rather than buy one off the lot - but that is just me. For other folks, you may have to draw them in with a sweet price that makes your car worth the extra effort.
Both of the BMWs I sold off-lease I did not sell via any of those outlets, I sold them via BMW-centric mailing lists and online forums. So if you run your Z on Z forums, like freshalloy and Z-specific forum you may more folks that know, love, and want your car.
Dennis
MSRP: $32,615 including dest.
Net Cap: $29,498 including $595 bank fee
Residual: $18,590.55 which is 57% of MSRP
Knowing the net cap is key, since we just want to solve for the MF. The know the term (39 months), the payment w/o tax ($389) and the residual and net cap - so the MF must be (sound of numbers crunching).... 0.00227 .
Right? Check my numbers, but if you plug in the net cap, residual, and 0.00227 and 39 months it should solve to $388.84 per month.
Once you know the residual and MF you can decide how much/little to pay at signing, plug in your negotiated price for the car, you tags/title/taxes, and any dealer fees and come up with your own payment.
Finally, if you just ask them "is this the buy rate or are you marking it up" I have found the Infiniti folks to be honest and just tell me .
Dennis
As was said, unless your contract says so (and none I have read do) you can put on anything you want as long as it is the proper size and DOT legal for tires.
I don't know if the amount of pad left is even checked at lease end, I would guess in many cases it is not. Again, if it is check or you need brakes you can have whatever brand installed you want and get whoever to put them on.
They only thing you are REQUIRED to do is keep the receipts as proof you maintained the car. If, at lease end they think there is a problem with a badly maintained car they can ask for the this proof or charge you if you can't provide it.
The contract likely also states the maintenance has to be current when you turn the car in. So if the cabin air filter, fuel filter, air filter, etc are all due to be changed then you would need to do them or have them done before you turn the car in - and save the receipts. Follow the schedule in the owner's manual and make sure you get it all done. Dealers can be "famous" for printing up their own maintenance guide to give to customers that "requires" items not required by Infiniti so they can get more of a customer's money.
Dennis
I had an 03 G35 coupe that I just recently purchased out of my lease and BAM 2 days later I parked it in an area that got flooded and now the car is totalled! I'm waiting for GEICO to send me my check but in the meantime I'm shopping around for an 07 AWD G35 Sedan...
I went to one dealership that is having a "24 month lease special". Now at first I thought it sounded good but now I'm not to sure. Here is the price and other info I was given...
07 AWD G 35 Sedan, Premium package.
1995 down payment
1695 lease fees
+ NY Sales Tax
This comes out to around $4,200
The money factor is 000166 and the reidual is 67% and it's only a 24 month lease... The monthly payment comes out too $357.00 a month.
This would be a great deal if it were a 36/39 month lease but I just dont see myself putting down 4 grand at signing for a 2 yr. lease.
Is this a decent deal or is it crap?
I called another dealership and they had a 56% residual and a .00207 Money Factor for the AWD G Sedan with the prem. package for a 39 month lease.
If anyone can help me out I would appreciate it since I'm going through hell right now with my insurance company with trying to get the 10 grand I put down when i bought out my coupes lease. Thanks in advance.
-Sal
Just because they have a pre-figured lease "Deal" does not mean you have to do it like they say. Given the money factory and residual you can do it with tons out of pocket or as a sign and drive. The key is to negotiate the price of the car - the selling price or "agreed value" up front. Then you just add in the bank fee, taxes, title, tags, etc and run the numbers given the MF and residual.
In your example you have no idea what you are paying for the car, which is wrong way to do things .
You are correct, you don't want to have to put $4,200 out of pocket to do a lease.
Dennis
For anyone to tell you if it's a good deal you need to provide:
MSRP
Sale Price
Money Factor
Residual (this should be the same everywhere but you want to make it's correct)
All fees (acq fee, regsitration, anything else the dealer is trying to add)
Your tax rate
If they won't tell you any of the above find somewhere else to buy the car.
The first step is making sure the sale price is appropriate for the car and then making sure there are no bs/inflated fees. The rest will work out as long as you know what your supposed to get for the MF (somewhat credit dependant), and residual. If the lease isn't through Infiniti than no one is going to be able to tell you the correct values, the best you can do is check them against what IFS offers to make sure it's a better deal which I think will be unlikely unless you have bad credit.
With that being said... They gave me a price of 357 a month with taxes and fees up front which is around 2,200 for a 24 month lease.
I called other Infiniti dealers and they said that deal is very good and won't be able to match it so this leads me to believe it's a solid deal?
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 moonroof is must have for me, and I have listened to the stereo in the base sedan and the "studio on wheels" and there is NO comparison - the Bose system (in this case) sounds tons better - and I am not normally a Bose fan. Looking at the other items it is easy to see why almost every G you see on the lot includes at least the premium package.
I have no idea if your deal is good or not. As was requested, tell us the MSRP and selling price and base monthly payment w/o taxes, and dealer's fee and we can comment. Tell us that, we tell you if it is a good deal or not .
Dennis
$4200 - ($1995 down + $1695 lease fees (whatever that is!)) = $510 - that seems like too little for NY State tax on that car.
Good luck and get us some numbers
Dennis
I loved the bose system I had in my 03 G35 coupe but I had to stop listening to it loud because from djing all the time my ears take a pounding so by eliminating some watts may be a good thing. I'm more concerned about clarity. I'm sure the bose is better but if the stock is decent and sounds good i'll just go with that. Thanks for all the help and suggestions
I would not listen to some high quality tunes on the "studio on wheels" and then the basic system unless you are prepared to buy the premium pack car. I would listen only to the basic system and if that sounds "OK" then don't dare get in the other car .
The system in my RX-8 was "OK" - another Bose system, but just OK. Driving down to test drive the cars I was listening to the same tracks I planned to use to demo the systems. Sounded pretty good in the 8. The SoW in the G sounded tons better and trying to listen to the same tracks on the drive back in the 8 really showed how much worse that system is.
Dennis
Need some help with evaluating offer above + the cost, residual, money factor etc. MSRP for new car including premium pkg, dest charge, XM radio, minor others = $37,250. Offered price is $36,000 but I think they may try to tack on an acquisition fee of $500-600. No security deposit. Money factor is listed as .00207 which is roughly 4.97%. Residual factor is listed as 58% which seems low. Monthly payments are showing as $578 which is about $100 more than current lease. No other cap cost reductions are planned. Time is short in order to locate vehicle, bring it to my dealership, and meet 8-31-07 deadline for offer. Any thoughts would be appreciated
Now pricing can vary from region to region due to supply and demand, but I would think your price is just too high.
The bank or acquisition fee is always added exclusive of the selling price of the car.
The residual is set by the lease bank (IFS in this case) and can't be changed by the dealer.
0.00207 is the buy rate for a 36 month G35x lease.
Either get them give you a lower price on the new car or just wait until your lease is up and get a new 08 G for about the same (or maybe) less money per month. The only exception would be if you NEED the $500 in damage forgiveness they are offering on your current lease. Then the deal gets $500 better.
Dennis
The August coupe rate is 0.00174 and the residual is 68% for a 24 month/24k mile lease.
A base (with nothing) coupe would have an invoice of $31,478 including destination. If you got it for $1,500 under (let us say) then $29,978. If we roll in the $595 bank fee then $30,573 cap cost with a residual of $23,232.20. We plug that into the lease calc with the term and MF and get $399.49 per month w/o tax with nothing due at signing but first month and tax/title/tags. If I increase the amount due at signing by $3,600 the new cap is $26,973 and the payment drop to $243.22 per month w/o tax.
Lease or buy, Infiniti does not include maintenance with its new cars - that is up to you.
Nothing wrong with lease then buy if the numbers work out, but you always have to factor in the loss of the bank fee ($595 in this case) when running the numbers. A 36 or 39 month lease might make more sense and for sure should result in a better payment and less to buy on the back end, but you have to run the numbers each way and decide.
Dennis
That's a good number. I traded in an '05 coupe earlier this year and I lost about 9.5K (2 years old with 20K miles).
-jmd
Is the offer you got from the dealer or from IFS direct? Just curious as it sounds like a dealer's idea to "buy out" your old lease by getting you to pay too much for your old car.
The 08 cars come standard with XM and ipod interface, but the invoice/MSRP may be a bit more - prices have not been posted that I have seen. Unless they make you a sweet deal to take the 07 off their hands I would wait and get the 08.
Dennis
Local Dealers in New Jersey have been giving me the run around concerning the 1,500 dealer incentive saying that its only for financing. Is this true? I thought it was applicable to any form of purchase including lease deals??
Please confirm.
thanks
Marketing Support
$1500 Cash to Dealer start: 08/01/2007 end: 08/31/2007 Get Dealer Pricing
Restrictions None.
Comments Dealer participation may vary.
But of course, that is not the final word on it as Edmunds could have it wrong.
Check into a 3rd party lease through someone like leascompare.com . Run the numbers with their residual and MF but figuring on getting the $1,500 off, then compare with the dealer's deal w/o the $1,500 and see which is better. I have not heard this month that the dealer money keeps you from getting the cheap lease rate from IFS, but it could be true.
Dennis
I have been using this calculator and getting payments in the low 4s but when i get quotes from Dealers they are quoting me high 4's low 5's in terms of payments which seems a bit high.
At this point if i were to use these figures what would an ideal deal look like
MSRP 39,515
Selling price 36,089= invoice
MF .00174
Residual 67%
24mos/5k miles
total out of pocket 2,500
NJ sales tax 7%
im getting around 460/mo (with taxes) without dealer incentive using this calculator
http://www.leaseguide.com/calc.htm
G35x with premium package,splash guards, cargo liner and all season mats.
MSRP: 37,179
Invoice: 34164
Got a sale price of 35350 after much negotiation. Dealer kicked in a year worth of oil changes and wheel locks.
Residual, 58% = 21555
Gave 9 multiple deposits to IFS = $4500
36 month lease, 12000 miles
MF = 0.00207 - 0.0009 = 0.00117
Monthly payment = $449
Besides multiple deposits, cash upfront included tax $1074, 1st month payment $449, Acquisition fee $595, documentation fee $50 and License $495.
Got it for my wife, she is thrilled. It is a great sporty car.
I am interested in the 2007 G35X. Is there currently a dealer incentive for this vehicle? If so, where can I find the details on it (please provide link).
Thanks in advance.
Look at the bottom of this link...
http://www.edmunds.com/new/2007/infiniti/g35/100819281/incentives.html?vdp=off&s- etzip=18661&state=PA
You'll see a box that says "Marketing Support"...
Marketing Support
$1500 Cash to Dealer start: 08/01/2007 end: 08/31/2007 Get Dealer Pricing
Restrictions: None.
Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.
John
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Dennis
In your numbers do you remember to roll in the $595 bank fee or account for it in the out of pocket? How about the dealer doc or prep fee?
Sounds like you are fairly close to matching the dealer numbers if the incentive can't be combined with the lease deals. Did you compare the payment amount if you take off the $1,500 and go with lease compare VS paying the $1,500 more and getting the cheaper lease? If you can't combine the two deals, then you can take whichever nets you the lowest payment.
I will try to e-mail a couple of Infiniti dealers I have worked with in the past to ask about this.
Dennis
On the G it is hard for 3rd party lease banks to compete with IFS. They almost always have discounted money factors and their residuals are a bit higher than ALG numbers. Add those together and you can lease 3rd party but it will likely cost you more per month to do so.
The exception may be the 07 coupe you are looking at - if the $1,500 (I have now heard this may be up to $2,000) dealer incentive can't be combined with the discounted IFS lease rates then taking the money on the cap cost and going 3rd party may net a lower payment.
Dennis
He also said the incentive was now up to $2,000 from $1,500 - but this may vary region to region.
Dennis
MSRP: $37,255
CAP COST: $34,580
INVOICE (from Edmunds): $34,039
DOC FEE: $45.00
ACQUISITION FEE: $595.00
RESIDUAL: 58%
MF: .00227
$498.13/month including tax. Paid fees + 1st month and registration ($288) for drive off (just under $1500).