The best advise I believe is for you to read alot, ALOT of this forum. There are posts by Dennis where he explains the lease concept and how to determine if a deal is good or not. With the information you provided it is impossible to determine if this is a good deal or not. More information is needed and as you read the posts you will see what information is necessary, how to tell if a lease deal is good or not and the reasons to avoid putting money down, but that is your decision. Good Luck.
When we lease, we are basically renting a car. To invest $2,500 upfront on a rental car is not a wise financial decision. Keep that cash in the bank. If your car were to get totalled as you drove away from the dealership, you would not get that $2,500 back. Plus, this is a depreciating asset. Keep it, earn some interest. Why give it to Infiniti when you can just keep it yourself? Don't let the bigger monthly payment throw you off, you are paying less at the end of the day because you keep the money upfront.
I was going to throw my 2 cents into the whole "no cap cost" thing, but it seems that's not really what you are looking to do. From a financial planning perspective, kingpcgeek (and others) are trying to tell you hang on to your cash, which is a wise decision. However, your concerns seems more geared towards having affordable payments. In that case, you have no choice but to put money towards your cap reduction.
Regardless of what you choose to do, there are things you should NEVER do, like negotiating down payments and monthly payments.
You don't have to understand every intricate detail if you don't want to, but it helps to find out.
Just get the following info and myself and the rest of the community can help you crunch the numbers.
MSRP (get from dealer) Invoice (get from dealer or you can find out through Edmunds based on the MSRP) Sale Price (be ask for Invoice price, if you are a previous Infiniti owner, you can get another $500) Money Factor (varies depending on the term you want to lease, so tell dealer the terms) Residual (varies depending on the term you want to lease, so tell dealer the terms) Bank Fee (Should be $595) DMV (get from dealer) Doc Fee (get from dealer) Other fees (like tire tax, etc...get from dealer)
Be prepared to tell the dealer what terms you see (24mo/12k? 36mo/15k?)
If the dealer doesn't want to provide it, then move on to the next dealer. I personally have no patience for their game, neither should you.
The way i see it is this, you shouldn't take out a loan without knowing how much you are taking out, so don't take out a loan on a car you don't know the price of. After all, the sale price + fees IS your loan. So it's best to find out.
As the others have explained, this is bad on so many levels .
1) Even when leasing you negotiate the price of the car first. At some point you do have to disclose that you want to lease, but you don't say anything until you have a nice price. This would be within $500 of invoice including the destination charge and any dealer doc or prep fees and less any dealer incentives and / or customer cash back.
2) Then you get the lease money factor and residual for the term you want and plug in your buying price and figure the payments yourself. Don't forget the $595 bank fee which has to be paid.
3) Then see about the taxes and add them to the lease.
4) The rest of the stuff should be DMV or tire fees that should be pretty minor.
See how the payments come out with a modest amount of cash due at signing (say first payment only). Too high? Then perhaps you need to look at a cheaper car.
Still want the G37? Then take the $10k from your trade and stick it in the bank.
Each time a payment is due and you don't have enough to pay it, take out enough to help yourself out from the bank and pay the payment.
How is this different? Say you hand them $5k at signing and total the car on the way home (God forbid this happens, but it could). You insurance pays off the lease bank for the car and you have nothing. Wait a minute, you say, I just paid $5k 1 hour ago. Too bad, that is how it can work.
If you hand them $500 for the first payment at signing then in the same situation you are out - $500.
Which sounds better to you?
Keep in mind you DO have to pay interest on the money you borrow, so the $5k down may equal $5,200 or something over 38 months - but that is no matter since leaving the money in the bank for 39 months will net you some interest but plenty of piece of mind. And as you get a better job and get more income you may find you can leave the extra money in the bank each month.
I went to lease a G35X loaded (36M/12K)in Indianapolis,IN, what a waste of time. They wanted $1500 over invoice and wanted to charge me what was equivalent to 5.70% (my CR is between 725-750). They would not come down from that and then they told me there was a $600 ,plus tax, "WHEEL CHARGE". The manager said it is because they were getting leases back with torn up rims and people were mad that they had to replace them at the end of the lease. No matter if you did not damage the wheels, you did not get the money back. I have never heard of this and I have leased many cars. Anybody else run into this charge? I think it's a scam. I guess I will be going to Chicago. Does anyone know any fair dealers up there.
"How is this different? Say you hand them $5k at signing and total the car on the way home (God forbid this happens, but it could). You insurance pays off the lease bank for the car and you have nothing. Wait a minute, you say, I just paid $5k 1 hour ago. Too bad, that is how it can work."
I don't think you would lose the entire 5k for sure. The last 2 insurance companies I've dealt with would pay "market value" for your car. I'm not saying all companies will do that, it all depends on who insures you. If you lease a $30k car and put down $5k, drive it out of the lot, crash an hour later. Then say insurance pays you $28k, then you get back $3k and lose $2k + inception fees. Significant chunk, but not entire amount. And since all IFS leases include GAP, you don't owe the bank anything.
Yes they pay market value, but it is different if you OWN the car with a bank having a lien on it VS leasing (renting) the car.
If you are buying the car then your insurance pays off the bank loan (if there is enough money) and since your name is on the title you get the extra money - if any.
On a lease only the bank's name is on the title so your insurance just has to make the lease bank happy. Many captive banks will bank what the insurance pays (Honda does this) and most include GAP to keep you from having to pay. Since your name is NOT on the title then there is no reason for the insurance to pay you anything. You don't own the car, you just are renting it and since you are not a title holder I can't see you could make a case to an insurance company to pay you any money at all.
Very interesting that my just completed lease turn inspection turned up exactly $500 of excessive wear and tear, which happens to be the same amount Infiniti will waive if you lease another Infiniti.
$360 for cracked windshield (it chipped, not cracked and not in the driver view, its behind the mirror.) Luckily insurance pays for 2 windshields a year so that one is covered.
$140 for scratched wheel. I knew that was going to happen. I thought about putting the full size spare on, but he checked that too. I bet if there were not problems with the windshield the wheel cost would have been higher.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
They need to wise up and be like Honda - $500 per item and $1,500 per vehicle in forgiveness no matter if you lease another Honda or not. It is almost enough to put you off another lease with them if they "nit-pick" you to death at lease turn in time. The Honda experience is so much better and makes you want to lease another Honda - for sure after you have to go through being charged (extorted?) by another lease bank.
I'm turning in my M35x (2006) for a new G35x by next week. My inspection of the M35x picked $400 in damages. Some damages were exaggerated like a cracked front bumper which wasn't there. The inspector kept saying infiniti forgives $500 if you go with them again. Maybe Infiniti puts pressure on them to exaggerate damage to steer you to Infiniti again? The organization is AIM I think. I didn't argue too much because I decided on an infiniti anyway. I wasn't standing there at the time of inspection so I couldn't argue (they went to my work office and did the inspection while I worked) If I was changing from infiniti I think I would be there to check up on them. Biggest item was rim scratches. The M rim protrudes slightly past the wheel so gets scratched easily.
If will take some time to read this forum or any leasing forum you will find that no one can tell whether a lease is a good deal without knowing the price of the car that the dealer is selling you. If you only negotiate the price of a lease payment you open yourself to getting into a bad deal.
You need:
Publicly Available Items MSRP Invoice Price Current Manufacturer Residual Current Manufacturer Lease Factor
Items particular to your deal Selling price (in these car buying times you should be around invoice on most cars) Lease factor dealer is quoting you (dealers can mark this up) Dealer doc fees Local sales tax, and whether you pay up front or every month. Out of pocket money up front.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
From what I was told by a dealer on Friday they are the same as July's. I sure was hoping we would see a MF drop today being its the first Monday of the month. Infiniti did have a 18% drop in G35 sales in July over July of 07.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
below is the 1st quote i received for a base g37 and please note that the msrp is quite odd considering a base g37 is 34k, not 36k. i was told that the car that they quoted me was indeed a base model, not journey....any thoughts on that as well as the deal below is appreciated.
mspr= 36, 465 - this is high for a base g37 and i was told this is NOT the journey so any thoughts on why a base g37 is 2K more than what is stated on the infiniti site? invoice = 33895 (this is what they told me) sell price = 34,000 (don't remember what this includes but maybe the info below will help answer this question, for sure i know that this includes a remaining payment of 342.00 for my previous lease which is due to mature in sept)
39month /12k a year residual = 59% mf = 0.00355 (my credit score is around 600 so i am willing to fork over some dough for my mistakes)
monthly= 580 with taxes included (illinois taxes are rolled in) - i was told that due to my credit, it will be approx. 65.00 more per month which is what i was expecting. so for a tier 0 or 1, my assumption would be the total will be 525.00 with taxes included for a tier 0 or 1 for a base g37.
thoughts on everything would be much appreciated!!
i found out that the 36,465 is indeed the journey stripper model so question/concern answered. also i found out that the invoice that was quoted to me should not be 33895, but actually 33595 so question/concern answered there. This tells me that i will be able to do better on the sell price because the doc fee is not rolled into the sell price, but my last payment from my current lease is actually rolled in.
My questions are: Based on the info i provided previously, is the residual of 59% on a g37 journey accurate? Also, I'll be looking at a g37 journey with moon roof only and also a g37 journey with premium package only so let me know if anyone has the residuals on that. The money factor will probably be similar at 0.00355 (ouch i know :sick: ).
Based on the monthly payment of 580 taxes included for my credit score and the assumption that a tier 0 or 1 will get about 525 taxes included, does this seem reasonable? i have to base the assumption on the tier 0 or 1 and that my monthly payment will be about 65.00 higher per month than a tier 0 or 1.
I turned in my 325xi and now need to get another car. Have decided to lease a G35x with Premium, Nav and Wood. Have the following deal: (basically the same deal from three different dealers here in Chicago)
List - $40,175 Invoice - $36,689 Cap Cost - $37,150 Residual - 57% MF - .00184 39 months 15,000 miles per year
Monthly payment $495 paying tax ($2,999), doc ($175), plates ($143) and first month payment up front.
Question: 1) Is this a good deal for an 08?
2) Should I buy now or wait for the 09 G37x to come out and then buy an 09 or get a better deal on an 08? Any idea if 09 lease costs will be much higher?
I am pulling the trigger on a G35 with Premium for $100 over invoice tomorrow.
If history repeats itself from the 07 G35 sales when they came out it will not be cheaper for some time to get a G37 sedan. IMHO dealers will not be dealing as much and lease factors will not be that great for a while. Think about it, you have an offer to lease a car that is at the end of its model year and they are still offering a 57% residual for 39/15.
My one comment would be is nav really worth $30+ a month to you? The talking nav on my Blackberry Pearl works great, goes with me from car to car and it doesn't add a penny to my bill.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
I need help people here...I am about to end my lease on my 2006 6MT Sedan and move into a 2008 G35x-Sport or another 6MT in Michigan. The best quote I got so far is and need people's opinion here:
2008 6MT with premium: $2000 down - -Thats total outof pocket incl. 1st month, etc 12K Miles/24 Month lease He promises me it is only $250 over invoice (???) Payment is $439 + Tax
2008 G35x with Sport and Premium Same as above terms Payment: $469 +tax
I have 5 or 6 more weeks to go before my lease ends and with G37 Sedan coming in September I am sure these prices will go down.
The deal sounds OK, but I would not pay all that up front. Just first payment or so and roll the rest into the lease.
I have the Nav in my G37 and it is quite nice - but the best parts of the Nav are actually the backup camera, music jukebox, and CF slot. I agree that while you can get a nice Garmin for $200 or less these days it does not make a lot of sense to pay large dollars for an out of date / expensive to update OEM Nav system. In this case, you get the Nav + the other goodies and to me they make it must have.
As kingpcgeek said, when the new model launches the deals may be few and far between - for a while. They also COULD have really cheap lease deals to move out the remaining 08 cars, but they may not - no way to know. The new car will have the slick new tranny and some other updates and might be worth waiting for - IF you could wait until rates and prices drop on the 09 models, but in your case you can't.
Get the best deal you can or you could wait and hope they put some closeout deals together on the 08s next month. Risky, but you MIGHT save some money. Of course, they may raise or drop the leases on the old models as well - leaving you stuck with leasing an 09 for more.
I know I am no help, but none of us knows what is going to happen next month .
I'm trying to lease a 2008 G35 with premium package and nothing else. We are down to a price of $34,592, with gross cap cost of $35,614 (includes $399 doc fee, $599 acq fee, and $28 license fee).
Consumer Reports bottom line is $32,719 (without allowing for dealer profit). They are charging $500 for window tinting, wheel locks, and nitrogen in tires(?). Should I try to get a final price of around $33,800, which will allow for $500 dealer profit and the tinting/add-ons? Or try for lower price? I would think leasing a 2008 before the 2009 G37s arrive would be good time to get a low price.
Also, I'm having trouble understanding the money factor, and how that plays into the computation. Here's the REST of the story:
Adj. Cap Cost = $35,164 (applying $450 from a trade-in_ Residual = $19,808 Depreciation = $15,355 "Rent" = $3,280 Total of base payments = $18,636 Base payment = $477.85 Sales tax = $37.03 Total payment = $514.88
My credit score is over 800, so I would think I'd get a low interest rate. The "rent" (which I assume is interest) seems high. Other posts mention a .00134 money factor being good. What is my factor from above? With my credit score, what should I be shooting for?
I leased a G35 yesterday with premium, splash & cargo net. I offered invoice + $100 the day before and they agreed. When I got there yesterday the deal became "their" invoice + 100. "Their" invoice added their costs for tint, paint sealant and door guards totalling $288. I balked and said that I offered $100 over the real invoice, not their dummied up invoice. They refused to budge, so I figured I was still getting a good deal so I relented. Their factory invoice was $50 cheaper then Edmunds because of a lower destination charge. So in reality I got the car for $338 over published invoice with everything figured in. The tint in AZ is a must, door guards don't hurt and the paint sealant a waste.
I payed $1930 up front which included first month, tags, acq fee, and $369 doc fee. The payment is $469 including 7.95% tax per month for 36/12. $400 of the lease loyalty was used to pay the last lease payment on my 05 G35.
During the signing of the paperwork I got an email from a dealer in Mission Viejo, CA. He had agreed to enhance the deal he had already offered me two days before. It took him two days to respond that he would pay the $400 lease payment on my G35. Upfront I would only pay first months payment, $45 doc and $50 temp permit to drive to AZ. The acq fee was rolled into the monthly payment of $449 including tax. In all I would have saved close to $2000 for the term of the lease. I showed the salesman the deal and he told me there was no way they could match it. I said I needed a few minutes and went outside to give my wife a call. After much discussion I decided that I had a good offer in Scottsdale, I wouldn't have to put 400 miles on my new car right away and spend 14 hours driving to go to CA to get a new car. When I walked back in the salesman gave me a $100 gas card to relieve the pain
I love my new G, much nicer then my 05. Few disappointments. The blue tooth doesn't work like a blue tooth headset. With a headset I can use voice dialing for any phone number in my phone book, no voice programming needed, the G35 blue tooth does not offer that feature. The premium package stereo is still not that great. I test drove an Accord coupe that had a better sounding stereo. XM says their sound is CD quality, not even close. It seems a step below FM quality.
Glad to be in another G for 3 more years!
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
I could have saved about $10 a month if I had gone with a 39 month lease. Dealer admitted that IFS pushes the 39 month. I decided the better deals would be had in August/September then November/December when my lease is up in 2011.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Hey car_man, let me say thank you in advance for this. You have given me some excellent information in the past and was hoping you could help me. I am looking at doing a 24 or 36 month lease on a G37 coupe in the next week or so. Could you give me the August money factors and residuals for the coupe? Thanks.
Infiniti Financial Services Lease Programs – July 2008
2008 Infiniti G35 Base Sedan 24 Month – Residual 67% of MSRP – .00103 Base Rate 36 Month – Residual 57% of MSRP – .00134 Base Rate 48 Month – Residual 48% of MSRP – .00175 Base Rate 60 Month – Residual 40% of MSRP – .00202 Base Rate
2008 Infiniti G35 Journey Sedan 24 Month – Residual 66% of MSRP – .00103 Base Rate 36 Month – Residual 56% of MSRP – .00134 Base Rate 48 Month – Residual 47% of MSRP – .00175 Base Rate 60 Month – Residual 39% of MSRP – .00202 Base Rate
2008 Infiniti G35 Sport Sedan 24 Month – Residual 66% of MSRP – .00103 Base Rate 36 Month – Residual 56% of MSRP – .00134 Base Rate 48 Month – Residual 47% of MSRP – .00175 Base Rate 60 Month – Residual 39% of MSRP – .00202 Base Rate
2008 Infiniti G35 X Sedan 24 Month – Residual 68% of MSRP – .00147 Base Rate 36 Month – Residual 58% of MSRP – .00167 Base Rate 48 Month – Residual 49% of MSRP – .00202 Base Rate 60 Month – Residual 39% of MSRP – .00204 Base Rate
2008 Infiniti G37 Coupe 24 Month – Residual 73% of MSRP – .00190 Base Rate 36 Month – Residual 63% of MSRP – .00216 Base Rate 48 Month – Residual 53% of MSRP – .00195 Base Rate 60 Month – Residual 45% of MSRP – .00196 Base Rate
2008 Infiniti G37 Journey Coupe 24 Month – Residual 70% of MSRP – .00190 Base Rate 36 Month – Residual 60% of MSRP – .00216 Base Rate 48 Month – Residual 51% of MSRP – .00195 Base Rate 60 Month – Residual 43% of MSRP – .00196 Base Rate
2008 Infiniti G37 Sport Coupe 24 Month – Residual 71% of MSRP – .00190 Base Rate 36 Month – Residual 61% of MSRP – .00216 Base Rate 48 Month – Residual 52% of MSRP – .00195 Base Rate 60 Month – Residual 44% of MSRP – .00196 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
Is the residual on a 39 month lease and 15K miles still 56% and .00134 base rate (same as 36 month lease)? Or does residual drop slightly and money factor increase slightly? Going to dealer tomorrow.
below is the 1st quote i received for a base journey g37
mspr= 36, 465 invoice = 33895 (this is what they told me) - dealer quoted incorrectly sell price = 34,000 (don't remember what this includes but maybe the info below will help answer this question, for sure i know that this includes a remaining payment of 342.00 for my previous lease which is due to mature in sept)
39month /12k a year residual = 59% mf = 0.00355 (my credit score is around 600 so i know i will have to pay extra dough for my mistakes)
monthly= 580 with taxes included (illinois taxes are rolled in) - i was told that due to my credit, it will be approx. 65.00 more per month which is what i was expecting. so for a tier 0 or 1, my assumption would be the total will be 525.00 with taxes included for a tier 0 or 1 for a base g37. obviously it's difficult to gauge whether the quote is fair due to the MF so please let me know, assuming it is 65.00 cheaper, if this would be a fair deal using tier 0/1 credit and MF.
thoughts on everything would be much appreciated!!
I offered invoice + $100 the day before and they agreed. When I got there yesterday the deal became "their" invoice + 100. "Their" invoice added their costs for tint, paint sealant and door guards totalling $288
... and $369 doc fee
So your $100 over invoice deal went up to $657 over actual invoice? You have to include any dealer doc or prep fee in your price.
The getting the tint and wheel locks for $288 is not all that bad, the locks are maybe $40 online but the tint (from a good shop with a warranty) can be $150 or more. Heck, I think I paid $55 just to have 2 windows done on my xB .
The get you on the lot and the just try to wear you down until you will sign just to get the deal done.
currently own a 2006 G35x which I am buying out of my current lease due to getting real close on the mileage count. Curently at 44K with lease expiring march 2009. Speaking to a dealer on a 2008 G35x Premium package at $385.00 with 12K and or $402.00 with 15K over 24 months and 4K down. I may push it out to 36 months but willnever go into a 39 month lease again.
I was aware of the doc fee before I offered $100 over invoice. I don't count it in the deal since I would have to pay that at any dealer. Heck there is one Lexus dealer I was dealing with that has a $689 doc fee.
2005 G35 Sedan 2007 G35 Sedan 2008 G37 Sedan 2010 G37 Coupe 2012 G37 Sedan 2014 Q50 RWD 2017 Q60 3.0t RWD 2018 QX60 RWD
You should always add that into your price since while you may have to pay it, the amount does vary. The Honda dealer I use has a $600 or $700 doc fee, but prices the car (net of the car, destination, and fee) down into the holdback. So the doc fee could scare folks off if they don't look at the net. Likewise, paying $100 plus a high fee is not $100 over. You are at the mercy of the dealers in your area unless you want to travel. My local dealer is horrible - add ons to the cars and $500 or more doc fee. The dealer where I got my car is about 2.5 hours down the road, but charges no doc fee, no lease mark ups, and no add on accessories. Well worth the drive.
I leased a G35 coupe fully loaded for 60K miles for two years. Is it worth it to go ahead and purchase the vehicle after the two years is up? Was it worth it to lease rather than purchase the vehicle in the first place considering paying taxes in LA? I need 30K miles per year for my commute to work. Thanks
The G coupes always hold value well, but IFS leases usually have inflated residuals. If yours does too, then you will be paying too much for the buy out price. The new design coupe is also tons nicer (to me) that the older design, so would make it a lot less attractive to buy out at the end of the lease.
What I would do is just look at the buy out price and compare to real world trade in values. If you could the same or more selling your G to a dealer or trading it in, then the buyout price is a fair one. If the car is not worth the buy out and they do not negotiate a lower price, then just turn it in and get something else. No reason to over pay when you got the car new and no reason to over pay now.
Thanks Dennis. In general given that I need around 30K miles per year, what do you think is the best strategy for a vehicle. I prefer to have a very comfortable well performing vehicle since I have to spend so much time in it driving which is why i'm trying out the Inf. G35 2008... but maybe it's not worth it. After five years of paying off a vehicle for example, it will have around 150K miles on it. Is it in general a better strategy to buy or lease something considering that I would like to have a reliable vehicle mostly for highway miles. I'm still thinking on it but for now I have the infinity 60k 2 year lease. thanks again.
Good questions and you will have to run the numbers for yourself. I have no idea how expensive a 30k mile per year lease is, but I would say it is high. That said, if you purchased a new car and put that many miles on it the value would drop like a stone and it (possibly) would require out of warranty repairs.
The best deal could be to buy a low mile used (slightly used, like a 2 year old model) and just trade it for another used car every year or so - before the miles to too out of hand and the value drops.
Yes very good thought and I've considered that. My lease for 60K, two years comes out to just less than $800/mo... plus I have to have the full coverage insurance and take good care of the vehicle to avoid any damage assessment when I turn it in. That part makes me very uncomfortable since I'm driving it pretty hard. I've also realized that around 50K miles or so I might be looking at the purchase of a new set of tires at around $600 for the set... then to turn around and turn the car in at 60K a few months later... yipes.. bad oversight. That's why I want to fully consider the idea of paying it off when the lease is up and keeping it. But then again as we already discussed the value drops due to the miles... even tho it's the G35 which tends to keep it's value (another reason why i selected it). So I have a lot to consider and I appreciate your last input because that is a strategy I might try for the next go around. Thanks! Wanda
The max amount of depreciation happens the first year, then the next year is less, and it flattens out pretty much after that. If you purchased a low mile 2 year old used car you beat most of the depreciation, then you trade or sell it after say 1 year or so. The high miles will not hit you too bad because you got a low mile car each time. So you buy a 15k mile car and sell it (still under warranty for some brands) at 45k after a year and buy another low mile car. If the state where you live gives a sales tax credit for trading in and you have a high tax rate, then you may be better to take less on a trade each year in order to avoid the taxes on the full price of the new to you next car. So if you purchased a used car for $30k and traded it in 1 year later for $20k your cost is $10k for a year (plus interest) of driving compared to $9,600 doing the lease and this way you would get a new to you car every year and always be under warranty and perhaps never have to buy tires or pay for maintenance other than oil changes and various filter changes. Getting a car that holds value well each time would pretty much insure you got a nice trade/sale value after the year is up. Getting something less nice (but more efficient) like a Honda Accord would cut your yearly difference between trade and buy by a good deal and save you tons on gas. Not nearly as much fun to drive, though.
I faced the same 30K miles/yr 24mon lease/buying decision with a 2008 G35X equipped with Nav, Prem & Tech packages. Price $37.5K + tax...Lease $588/mon, Purchase $615/mon (1.9% Financing for 72mon). I decided to purchase in order to remove the variable expenses although I'll get hit with depreciation. However, buying extra miles up front does make sense ie: $0.10/M vs $0.25/M at lease termination. Good Luck!
Edmunds has listed a $2000 Manufacturer to Dealer payment subsidy/incentive. Shouldn't we be getting WAY below invoice deals as a result of this, or is Edmunds wrong?
Comments
Regardless of what you choose to do, there are things you should NEVER do, like negotiating down payments and monthly payments.
You don't have to understand every intricate detail if you don't want to, but it helps to find out.
Just get the following info and myself and the rest of the community can help you crunch the numbers.
MSRP (get from dealer)
Invoice (get from dealer or you can find out through Edmunds based on the MSRP)
Sale Price (be ask for Invoice price, if you are a previous Infiniti owner, you can get another $500)
Money Factor (varies depending on the term you want to lease, so tell dealer the terms)
Residual (varies depending on the term you want to lease, so tell dealer the terms)
Bank Fee (Should be $595)
DMV (get from dealer)
Doc Fee (get from dealer)
Other fees (like tire tax, etc...get from dealer)
Be prepared to tell the dealer what terms you see (24mo/12k? 36mo/15k?)
If the dealer doesn't want to provide it, then move on to the next dealer. I personally have no patience for their game, neither should you.
The way i see it is this, you shouldn't take out a loan without knowing how much you are taking out, so don't take out a loan on a car you don't know the price of. After all, the sale price + fees IS your loan. So it's best to find out.
G
1) Even when leasing you negotiate the price of the car first. At some point you do have to disclose that you want to lease, but you don't say anything until you have a nice price. This would be within $500 of invoice including the destination charge and any dealer doc or prep fees and less any dealer incentives and / or customer cash back.
2) Then you get the lease money factor and residual for the term you want and plug in your buying price and figure the payments yourself. Don't forget the $595 bank fee which has to be paid.
3) Then see about the taxes and add them to the lease.
4) The rest of the stuff should be DMV or tire fees that should be pretty minor.
See how the payments come out with a modest amount of cash due at signing (say first payment only). Too high? Then perhaps you need to look at a cheaper car.
Still want the G37? Then take the $10k from your trade and stick it in the bank.
Each time a payment is due and you don't have enough to pay it, take out enough to help yourself out from the bank and pay the payment.
How is this different? Say you hand them $5k at signing and total the car on the way home (God forbid this happens, but it could). You insurance pays off the lease bank for the car and you have nothing. Wait a minute, you say, I just paid $5k 1 hour ago. Too bad, that is how it can work.
If you hand them $500 for the first payment at signing then in the same situation you are out - $500.
Which sounds better to you?
Keep in mind you DO have to pay interest on the money you borrow, so the $5k down may equal $5,200 or something over 38 months - but that is no matter since leaving the money in the bank for 39 months will net you some interest but plenty of piece of mind. And as you get a better job and get more income you may find you can leave the extra money in the bank each month.
Dennis
I guess I will be going to Chicago. Does anyone know any fair dealers up there.
I don't think you would lose the entire 5k for sure. The last 2 insurance companies I've dealt with would pay "market value" for your car. I'm not saying all companies will do that, it all depends on who insures you. If you lease a $30k car and put down $5k, drive it out of the lot, crash an hour later. Then say insurance pays you $28k, then you get back $3k and lose $2k + inception fees. Significant chunk, but not entire amount. And since all IFS leases include GAP, you don't owe the bank anything.
If you are buying the car then your insurance pays off the bank loan (if there is enough money) and since your name is on the title you get the extra money - if any.
On a lease only the bank's name is on the title so your insurance just has to make the lease bank happy. Many captive banks will bank what the insurance pays (Honda does this) and most include GAP to keep you from having to pay. Since your name is NOT on the title then there is no reason for the insurance to pay you anything. You don't own the car, you just are renting it and since you are not a title holder I can't see you could make a case to an insurance company to pay you any money at all.
Dennis
$360 for cracked windshield (it chipped, not cracked and not in the driver view, its behind the mirror.) Luckily insurance pays for 2 windshields a year so that one is covered.
$140 for scratched wheel. I knew that was going to happen. I thought about putting the full size spare on, but he checked that too. I bet if there were not problems with the windshield the wheel cost would have been higher.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Dennis
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
G35x with premium, nav and wood, 12k miles/year , 24 months
Total at sign: $1,500 Tax, first payment, acq fee..
MP: $520 with tx
You need:
Publicly Available Items
MSRP
Invoice Price
Current Manufacturer Residual
Current Manufacturer Lease Factor
Items particular to your deal
Selling price (in these car buying times you should be around invoice on most cars)
Lease factor dealer is quoting you (dealers can mark this up)
Dealer doc fees
Local sales tax, and whether you pay up front or every month.
Out of pocket money up front.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
mspr= 36, 465 - this is high for a base g37 and i was told this is NOT the journey so any thoughts on why a base g37 is 2K more than what is stated on the infiniti site?
invoice = 33895 (this is what they told me)
sell price = 34,000 (don't remember what this includes but maybe the info below will help answer this question, for sure i know that this includes a remaining payment of 342.00 for my previous lease which is due to mature in sept)
39month /12k a year
residual = 59%
mf = 0.00355 (my credit score is around 600 so i am willing to fork over some dough for my mistakes)
up front: 580.00 1st month payment+150.00 (doc fee)+143.00 (illinois license)= 843.00
monthly= 580 with taxes included (illinois taxes are rolled in) - i was told that due to my credit, it will be approx. 65.00 more per month which is what i was expecting. so for a tier 0 or 1, my assumption would be the total will be 525.00 with taxes included for a tier 0 or 1 for a base g37.
thoughts on everything would be much appreciated!!
thanks.
i found out that the 36,465 is indeed the journey stripper model so question/concern answered. also i found out that the invoice that was quoted to me should not be 33895, but actually 33595 so question/concern answered there. This tells me that i will be able to do better on the sell price because the doc fee is not rolled into the sell price, but my last payment from my current lease is actually rolled in.
My questions are:
Based on the info i provided previously, is the residual of 59% on a g37 journey accurate? Also, I'll be looking at a g37 journey with moon roof only and also a g37 journey with premium package only so let me know if anyone has the residuals on that. The money factor will probably be similar at 0.00355 (ouch i know :sick: ).
Based on the monthly payment of 580 taxes included for my credit score and the assumption that a tier 0 or 1 will get about 525 taxes included, does this seem reasonable? i have to base the assumption on the tier 0 or 1 and that my monthly payment will be about 65.00 higher per month than a tier 0 or 1.
List - $40,175
Invoice - $36,689
Cap Cost - $37,150
Residual - 57%
MF - .00184
39 months
15,000 miles per year
Monthly payment $495 paying tax ($2,999), doc ($175), plates ($143) and first month payment up front.
Question:
1) Is this a good deal for an 08?
2) Should I buy now or wait for the 09 G37x to come out and then buy an 09 or get a better deal on an 08? Any idea if 09 lease costs will be much higher?
If history repeats itself from the 07 G35 sales when they came out it will not be cheaper for some time to get a G37 sedan. IMHO dealers will not be dealing as much and lease factors will not be that great for a while. Think about it, you have an offer to lease a car that is at the end of its model year and they are still offering a 57% residual for 39/15.
My one comment would be is nav really worth $30+ a month to you? The talking nav on my Blackberry Pearl works great, goes with me from car to car and it doesn't add a penny to my bill.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2008 6MT with premium:
$2000 down - -Thats total outof pocket incl. 1st month, etc
12K Miles/24 Month lease
He promises me it is only $250 over invoice (???)
Payment is $439 + Tax
2008 G35x with Sport and Premium
Same as above terms
Payment: $469 +tax
I have 5 or 6 more weeks to go before my lease ends and with G37 Sedan coming in September I am sure these prices will go down.
I have the Nav in my G37 and it is quite nice - but the best parts of the Nav are actually the backup camera, music jukebox, and CF slot. I agree that while you can get a nice Garmin for $200 or less these days it does not make a lot of sense to pay large dollars for an out of date / expensive to update OEM Nav system. In this case, you get the Nav + the other goodies and to me they make it must have.
As kingpcgeek said, when the new model launches the deals may be few and far between - for a while. They also COULD have really cheap lease deals to move out the remaining 08 cars, but they may not - no way to know. The new car will have the slick new tranny and some other updates and might be worth waiting for - IF you could wait until rates and prices drop on the 09 models, but in your case you can't.
Get the best deal you can or you could wait and hope they put some closeout deals together on the 08s next month. Risky, but you MIGHT save some money. Of course, they may raise or drop the leases on the old models as well - leaving you stuck with leasing an 09 for more.
I know I am no help, but none of us knows what is going to happen next month
Dennis
Consumer Reports bottom line is $32,719 (without allowing for dealer profit). They are charging $500 for window tinting, wheel locks, and nitrogen in tires(?). Should I try to get a final price of around $33,800, which will allow for $500 dealer profit and the tinting/add-ons? Or try for lower price? I would think leasing a 2008 before the 2009 G37s arrive would be good time to get a low price.
Also, I'm having trouble understanding the money factor, and how that plays into the computation. Here's the REST of the story:
Adj. Cap Cost = $35,164 (applying $450 from a trade-in_
Residual = $19,808
Depreciation = $15,355
"Rent" = $3,280
Total of base payments = $18,636
Base payment = $477.85
Sales tax = $37.03
Total payment = $514.88
My credit score is over 800, so I would think I'd get a low interest rate. The "rent" (which I assume is interest) seems high. Other posts mention a .00134 money factor being good. What is my factor from above? With my credit score, what should I be shooting for?
Thanks for your help.
I payed $1930 up front which included first month, tags, acq fee, and $369 doc fee. The payment is $469 including 7.95% tax per month for 36/12. $400 of the lease loyalty was used to pay the last lease payment on my 05 G35.
During the signing of the paperwork I got an email from a dealer in Mission Viejo, CA. He had agreed to enhance the deal he had already offered me two days before. It took him two days to respond that he would pay the $400 lease payment on my G35. Upfront I would only pay first months payment, $45 doc and $50 temp permit to drive to AZ. The acq fee was rolled into the monthly payment of $449 including tax. In all I would have saved close to $2000 for the term of the lease. I showed the salesman the deal and he told me there was no way they could match it. I said I needed a few minutes and went outside to give my wife a call. After much discussion I decided that I had a good offer in Scottsdale, I wouldn't have to put 400 miles on my new car right away and spend 14 hours driving to go to CA to get a new car. When I walked back in the salesman gave me a $100 gas card to relieve the pain
I love my new G, much nicer then my 05. Few disappointments. The blue tooth doesn't work like a blue tooth headset. With a headset I can use voice dialing for any phone number in my phone book, no voice programming needed, the G35 blue tooth does not offer that feature. The premium package stereo is still not that great. I test drove an Accord coupe that had a better sounding stereo. XM says their sound is CD quality, not even close. It seems a step below FM quality.
Glad to be in another G for 3 more years!
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
g37 journey base - 12k/39m
g37 journey with moonroof only - 12k/39m
g37 journey with premium only - 12k/39m
Thanks!
Infiniti Financial Services Lease Programs – July 2008
2008 Infiniti G35 Base Sedan
24 Month – Residual 67% of MSRP – .00103 Base Rate
36 Month – Residual 57% of MSRP – .00134 Base Rate
48 Month – Residual 48% of MSRP – .00175 Base Rate
60 Month – Residual 40% of MSRP – .00202 Base Rate
2008 Infiniti G35 Journey Sedan
24 Month – Residual 66% of MSRP – .00103 Base Rate
36 Month – Residual 56% of MSRP – .00134 Base Rate
48 Month – Residual 47% of MSRP – .00175 Base Rate
60 Month – Residual 39% of MSRP – .00202 Base Rate
2008 Infiniti G35 Sport Sedan
24 Month – Residual 66% of MSRP – .00103 Base Rate
36 Month – Residual 56% of MSRP – .00134 Base Rate
48 Month – Residual 47% of MSRP – .00175 Base Rate
60 Month – Residual 39% of MSRP – .00202 Base Rate
2008 Infiniti G35 X Sedan
24 Month – Residual 68% of MSRP – .00147 Base Rate
36 Month – Residual 58% of MSRP – .00167 Base Rate
48 Month – Residual 49% of MSRP – .00202 Base Rate
60 Month – Residual 39% of MSRP – .00204 Base Rate
2008 Infiniti G37 Coupe
24 Month – Residual 73% of MSRP – .00190 Base Rate
36 Month – Residual 63% of MSRP – .00216 Base Rate
48 Month – Residual 53% of MSRP – .00195 Base Rate
60 Month – Residual 45% of MSRP – .00196 Base Rate
2008 Infiniti G37 Journey Coupe
24 Month – Residual 70% of MSRP – .00190 Base Rate
36 Month – Residual 60% of MSRP – .00216 Base Rate
48 Month – Residual 51% of MSRP – .00195 Base Rate
60 Month – Residual 43% of MSRP – .00196 Base Rate
2008 Infiniti G37 Sport Coupe
24 Month – Residual 71% of MSRP – .00190 Base Rate
36 Month – Residual 61% of MSRP – .00216 Base Rate
48 Month – Residual 52% of MSRP – .00195 Base Rate
60 Month – Residual 44% of MSRP – .00196 Base Rate
Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
mspr= 36, 465
invoice = 33895 (this is what they told me) - dealer quoted incorrectly
sell price = 34,000 (don't remember what this includes but maybe the info below will help answer this question, for sure i know that this includes a remaining payment of 342.00 for my previous lease which is due to mature in sept)
39month /12k a year
residual = 59%
mf = 0.00355 (my credit score is around 600 so i know i will have to pay extra dough for my mistakes)
up front: 580.00 1st month payment+150.00 (doc fee)+143.00 (illinois license)= 843.00
monthly= 580 with taxes included (illinois taxes are rolled in) - i was told that due to my credit, it will be approx. 65.00 more per month which is what i was expecting. so for a tier 0 or 1, my assumption would be the total will be 525.00 with taxes included for a tier 0 or 1 for a base g37. obviously it's difficult to gauge whether the quote is fair due to the MF so please let me know, assuming it is 65.00 cheaper, if this would be a fair deal using tier 0/1 credit and MF.
thoughts on everything would be much appreciated!!
thanks.
... and $369 doc fee
So your $100 over invoice deal went up to $657 over actual invoice? You have to include any dealer doc or prep fee in your price.
The getting the tint and wheel locks for $288 is not all that bad, the locks are maybe $40 online but the tint (from a good shop with a warranty) can be $150 or more. Heck, I think I paid $55 just to have 2 windows done on my xB
The get you on the lot and the just try to wear you down until you will sign just to get the deal done.
Dennis
Speaking to a dealer on a 2008 G35x Premium package at $385.00 with 12K and or $402.00 with 15K over 24 months and 4K down. I may push it out to 36 months but willnever go into a 39 month lease again.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
$2500 out of pocket down, $500 rebate loyalty cash
$477 a month for 24 months (12k miles) including tax
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Dennis
What I would do is just look at the buy out price and compare to real world trade in values. If you could the same or more selling your G to a dealer or trading it in, then the buyout price is a fair one. If the car is not worth the buy out and they do not negotiate a lower price, then just turn it in and get something else. No reason to over pay when you got the car new and no reason to over pay now.
Dennis
The best deal could be to buy a low mile used (slightly used, like a 2 year old model) and just trade it for another used car every year or so - before the miles to too out of hand and the value drops.
Dennis
I want to get a G35 with Sport/Premium/NAV. I want to lease it for 36 months at 15K. What is the going rate for that scenario?
Dennis
Good Luck!
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD