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The only thing that I would do differently is eliminate the $2,750 down payment. I always advise consumers against making large down payments on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your car's monthly payment will be a little higher, it would be safer to go with a zero down lease.
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Prices Paid: Buying & Leasing Experiences Forum
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Premium
Nav
Premium Tire and Wheel
Cargo Net
MSRP = $ 42,075
Selling Price = $38,485
Lease terms
36 months
12K miles per year
Cash at signing = $1,164
Monthly = 492 + tax
I know I can probably do a little better here given this was first quote via email but the question is how hard should I push. Looks like the dealer is boosting the lease rate a bit above IFS buy rate but if I could get a $100 - $200 reduction in cap cost would that be fair? Or should I push harder?
There is some question about what happens to the MSDs if your leased vehicle is stolen or totalled.
*I* assumed the lessee's insurance would pay off the current pay off on the vehicle and then the lessee would get all the security deposits back.
Someone that was going to do an MSD deal asked and was told by IFS that they would take off the MSDs from the buy out and then request that amount from the lessee's insurance. If they did that, then clearly multiple deposits is not a smart move - just like putting all that money down as a cap cost reduction - since you could lose it all.
Any knowledge you could share with us about IFS or MSDs in general if the leased vehicle is totalled or stolen?
Thanks,
Dennis
the car I want except I should come up with the sales tax (an additional $1628 out-of-pocket).
I calculated that he's calculating tax on a price of $38,327, which is $1802 over invoice.
1) What residual are we using for this car?
2) What money factor are we using?
3) How much can I negotiate down to get the car I want at $469/mo without the added out of pocket expense?
Don't play payments with the dealer, you are not likely to end up with a good deal doing that.
Deal the price down on the car - say no more than $500 over invoice including the car, destination, and dealer doc or prep fee. Once that is done, them you simply plug your numbers into a lease calculator using the IFS "buy rate" for the term and miles your want. I try to post these every month here in the forum. Then you add your local and state taxes, DMV stuff like title and tags and you are all done. The payment is what it is, and will be a nice deal. If that is too high, then you have to either bargain the price down more, wait for incentives to return or rates to fall, or drop some options.
Dennis
Dennis, have you found Infiniti dealers tending to mark up the "buy rate" or do they stay pretty close to the published numbers?
If you find a dealer (as I did) that has no prep or doc fees and does not mark up the lease money factor at all then it REALLY makes it easy to get a nice lease deal.
My local dealer marks up the lease MF a good bit and has a $500 or so doc fee - so there is no need to even try to make a deal with them - when compared to the other dealer.
Dennis
That helps. BTW, any feel for when the manufacturers start shutting down production for current year in favor of next year's model? In other words when do I start believing the "short supply" and limited inventory comments? I am assuming that given the recent restyling of the G37 probably not many changes planned for 09 (not sure when Infiniti releases the 09s anyway). Just had a dealer in TN decline to provide an Internet price saying he didn't have anything in stock that matched what I wantd (Journey w/ Premium and Nav) and nearest inventory he could locate was in Florida two states away. I'm thinking he realizes that since I'm in Atlanta he'd really have to get aggressive on price to get my to travel 100 or so miles for this. Too bad.
Thanks again.
Did you check with Harper in Knoxville? I got my G37 from them and with the $0 doc fee and no lease rate mark-up makes for a nice deal.
Dennis
If you are not going to lease, the sedan is a much better buy - everything is about the same for thousands less and easier to find. On a lease, the coupe is close to the same price due to its higher residual. I ended up with a coupe because I am leasing and it is easier to find a 6mt coupe than a sedan equipped like I wanted. "Easy" being relative since they had to get the car from GA, the closest sedan was FL or VA IIRC .
Dennis
Either way I want 15K, 36 months. For a sign and drive (nothing out of pocket) I was offered $526. If I paid the fees and taxes of about $2000, it would drop down to $472.
Do these numbers look in line?
Sorry took so long to respond. I do not have a deal with any dealer yet. All of the numbers in my posted "deal" should definitely be achievable by anyone in the NJ area. I can get the car for invoice through my works VPP, but from reading others posted prices paid on this and other forums most people are paying from invoice to a few hundred over invoice for a G35x. The other numbers(MF and residual) are directly from IFS. With so many dealers in the northern NJ area it should be fairly easy to get the same "deal" as my numbers.
Dennis
Residual is a percentage of full MSRP including destination.
Dennis
Has anybody been good enough to get a price under invoice?
When calculating the residual value, is that calculated from the Adjusted Capitalized Cost? If so, than paying a larger down payment would not make any sense since only a percentage of the down would actually be applied to the payment. If however the residual value is a ‘fixed’ amount independent of the Cap price, than I guess it does not matter
Also, what is Acquisition fee and is there away around it? How much is it usually?
Thanks,
YBZ
Note that it is a bad idea to pay any of your money into a lease. If you car is stolen or totalled your insurance will settle with the lease bank for what is the current buy out on the car - leaving you with nothing.
Dennis
With the $500 that was offered on coupes and sedans at various times, yes. Without the $500, I have not seen anyone post a deal below invoice for the car, destination, and dealer fee. If you have a nice trade they can rip you off on, then I am sure you could deal under invoice on the new car .
Dennis
ALso, I they are spliting the remeaning lease of my jeep with me at 405 a month for 8 months. So we are each paying for 4 months of that lease as i am just about over on milllage.
What do you think?
I got the blue with gray interior, they said i had to choose what they had left in stock.
thanks in advance.
The G35 I liked had the prem/nav/tech options plus splash guards and cargo netting .
The MSRP including destination charges comes out to $40,825 I live in NYC.
So whats my best plan of action to lease this car? The cost per month depends on the final price correct? I can live with 10k a year in mileage. I just retired so the least money down and monthly payments are what I'm looking for . What would be a good price to settle for with the options I wanted? And appox what do you think the monthly payments would be? I can put $3,000 down to start. I'd really appreciate any help you can give me...thank you in advance.
PS since I have to wait until Oct (although the salesperson said to come back in a couple of months , that they might be able to get me out of the current Nisaan lease). Should I wait for the 2009's to come out (when do they come out) ?
Thanks again.
i'm in the market for an 08 g35 sport edition. i know exactly what i want in the car. that being:
black w/stone interior
premium package
splash guards
(obvious sport package)
i've looked around online and have "read" the things to look for etc. i live in tulsa, ok and have entered what the invoice should be. i know my fico is fair enough to lease the car(673) but as far showing up at a dealer, or calling them via phone to get the best deal, i'm still not confident with my grasp of all the details.
even if i had the money factor, i wouldn't know what to do with it etc. is there a resource anywhere that can help explain how to sort through the details?
any help is very much appreciated.
ALso, I they are spliting the remeaning lease of my jeep with me at 405 a month for 8 months. So we are each paying for 4 months of that lease as i am just about over on milllage.
What do you think?
I got the blue with gray interior, they said i had to choose what they had left in stock.
thanks in advance.
When I am shopping for my lease, I don't really care if they want to mark up the money factor or charge me a large doc fee, AS LONG AS THE PAYMENT is where I want to be.
For example, if Dealer 1 is offering me $485 a month with a car sale price of $32,000 and Dealer 2 is offering me $475 a month with a sale price of $35,000, I am going with the lower payment (assuming same drive off, miles, term, etc.)
So, if you don't want to learn the math, do some quick research and determine what you would like to pay and don't worry about anything except the payment.
Now, how do you determine what is a fair price ? Here is what I do...
1. Go to Edmonds and price your vehicle, you want to see the MSRP and Invoice Price. For this example I will use the G35 Sport with the Prem Pkg. MSRP is $35,865 and Invoice is $32,900. Here is a link to the web page I am referring to. http://www.edmunds.com/new/2008/infiniti/g35/100943790/optionsresults.html?actio- - n=2
2. Now you need the residual and money factors, which Dennis has posted in the past. See post #2742 of this thread, these are for Tier 1 or better, not sure if 673 credit is Tier 1 or not. On a 36 month, 15k miles per year lease the Residual is 58% and Money Factor is .00178.
3. Go to Edmunds lease calculator and plug in the numbers. http://www.edmunds.com/apps/calc/CalculatorController
1. Select Basic Lease.
2. Vehicle Sales Price = to Invoice 32,900
3. Input your tax (I am using 8% for this example)
4. Input your estimated title and Reg (I am using $600) or leave it blank and just expect to pay those in addition to your best deal.
5. Leave the next 4 blank.
6. Input 36 months
7. Residual value equals MSRP * Residual % (35,865 * .58 = 20801)
8. Input Money Factor.
9. Leave miles per year at 15,000
10. Acquisition fee of $595
11. Leave security deposit at zero.
12. Calculate
4. This gives you a payment of $515.84. So what does this mean? If you where to lease the car at invoice (I am not saying that invoice pricing is realistic or even the best deal in your area, just using it as a reference point) and include your license plates, registration and acquisition fee with ZERO money down and NO other dealer add on fees.
IMHO, I don't care if they charge me a doc fee or not. If you start comparing anything other then monthly payments, it will get confusing.
Your next step will be to e-mail several dealers to get price quotes. I usually e-mail 8-10 dealers (go out of state if necessary). To try and keep things on the same playing field with the quotes, I send them something like this...
"I am interested in leasing a G35 Journey with Prem Pkg, 12k miles per year for 24 months with $1,000 drive off. Tier 1 credit. Open to any color except black"
I suggest you include a color choice, or you will immediately get questions on what color you want. Often they will send you quotes not using your terms, for example with $4,000 drive off, or not including tax etc. Just reply and ask, what about with $1,000 drive off and including tax?
If you follow this, you will only have to keep track of the terms they offer you (length of lease, miles per year, drive off amount and monthly payment). If all of these are the same, go for the lowest payment.
Good luck!
I am curioius about the references to 0 down / up front, in such cases, how is the first month's payment handled?
Is that rolled into the lease and if so, how is that calculated?
Also, I am in NJ. Has anyone heard of adding sales tax to a 595 bank fee and a 249 doc fee when they are paid up front (minor I know, but just trying to understand all the little charges that add up.)
I see a lot of these cars in the Central NJ dealer inventory - Is this typical for Infinitis? I would think there would be some great deals around. I have to wait about a month more to make mine, as my current lease runs through June - any thoughts on where lease factors will go w/in the next month?
With money factors as low as they are these days, it makes a lot of sense to put zero down. I even had a deal where I was going to put zero down and the dealer was going to cut me a check for $1,300 to cover my remaining lease payments on my BMW. They were rolling in the $1,300 into my new lease so I was essentially borrowing the money, but at a very low interest rate.
Just a reminder for those thinking of putting money down on your lease. If your new car gets stolen (and not recovered, or totaled in an accident) on the day you drive home your new G35, you will lose 100% of your down payment. The insurance company will take care of the rest of your lease payments, they will NOT reimburse you for your down payment.
MSRP 45045
Invoice 40934
Price of car 40934
Money factor .00194
Residual 72%
Zero down (just start ups equal to 1600.00)
24 months 15K miles
6% Michigan tax
Monthly payment = $526.36
Did I miss anything? Should I buy it at this deal or do you think May might bring better terms?
Thanks so much for any input guys!!
:shades:
You deal the price down on the car just like you are buying it. You want to be within $500 of invoice for the car, destination, and dealer doc or prep fee - less any customer cash (none right now).
You make sure you get the lease buy rates - as published here and other places each month.
You roll in the taxes, bank fee, tags, title, etc into the lease if you want to - or plan on paying them at signing.
With whatever you want to finance added to your price, you plug the numbers into a lease calc, add taxes as needed, and you have your payment.
Pretty simple this way. None of that "dealer a says $xxx with $qqqq down" and "dealer b says $yyy with $zzzz down" stuff. Much easier to just deal the price down and lease at the buy rate. If everyone would learn how their state and local taxes work and how much the local and state fees are, you can work your whole deal to the penny and instantly know if the dealer did it right or added something to it (those sneaky dealers). The goal is not to compare the offers from a couple of dealers, the goal is to lease your new G for the least possible amount.
Dennis
I have been reading your posts for a while, very helpful. One thing I'm not very clear is when you said invoice, did you already include the destination charge? Usually the two are listed separately, for example invoice is $36000 and there is $715 for destination. Every dealer I talked did it this way: quote price first, then add destination on top of it. Your invoice seems to combine them together. If so, it means we should be able to get the car a couple hundred dollars below dealer’s invoice, after adding the destination charge, it will be in the range you specified ($500 over invoice). Is this true? Also I noticed most of your posts are for leasing. Do you think there will be any price difference between leasing and purchasing?
Thanks a lot
Get your quotes to include the car, destination, and any dealer doc or prep fee. Then when you compare quotes from various dealers you will be comparing apples to apples. Since many Infiniti dealers have high doc fees making sure that is included is a must.
You should be around invoice (including dest) + $500 for the car, destination, and dealer fee less any customer cash (currently none).
Leasing or buying should make no difference to the dealer at this time. AFAIK the cheap finance offer nor the current lease rates change the dealer's cost at all. Normally that only comes into play when there is dealer incentive money on the line, so they can (let us say) knock the price down $1k more OR give you a really cheap lease or loan - but not both.
Dennis
Bottom line, 15k/month for either 36 or 39 months (not sure which off the top of my head) with NO money out of pocket for $526 month. I think this is a really good deal but wanted to make sure
You can use a site like leasecompare.com to see what kind of numbers are offered by a 3rd party lease bank - to compare to the IFS offering.
Dennis
That 1700 over 36 months is ~$47/month. That brings your "200 below" figure up to 504. Add tax, which I assume is easily figured out on each monthly payment is another $35 bringing the total up to $539.
Did I not understand your post?
never mind found it in post 2742 60% and .00160
sticker is $39725. 36 months/15K. I am paying about 36200 which is a little under invoice. I also got him to give me my first oil change.
hello G35
does anyone have the 2008 lease numbers for may 2008? 24 month lease, g37 journey, 15k miles. looking for residual and money factor...
thanks
If what you are looking for isn't posted yet, put in a request and you should have your answer soon.
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