Infiniti G37 Lease Questions

jaypolostls · September 2008

which dealer is this? i've been to practically all of them in new jersey. best offer i have so far is 470/mo w/2500 down for a g37 6mt w/navi and premium at salerno duane! out of pocket expenses total like 1900 and the remaining goes toward cap. which isn't that big of a concern to me w/the total out of pocket.

asheh · September 2008

Infiniti of Manhasset talk to the internet dept. I got a call from the Sales Manager herself.

peekay1 · September 2008

Paulo:

Based on what you've provided me:

MSRP = $39,130
Invoice = $35,810
Tax = 6%

Assumptions: Agree on $36,210 as purchase price of car ($400 over invoice). Pay license, title, doc fee (if applicable) and acquisition fee up front.

I come up with a payment of $559.81 for the 24 month term and $468.99 for the 39 month term. So, I'm having trouble reconciling to the dealers numbers with $2,000 down.

Did you get a dollar figure from the dealer in terms of agreed upon price? Does the $36,210 sound familiar? Let me know.

Try to get around invoice.

PK1

p.s. Rich Rod has A LOT of work to do in the next few years...

paulo6 · September 2008

Peekay,

Ok My out of pocket numbers I gave you are slightly off... The deal is $1500 Cost Cap reduction, but they will throw in the $500 loyalty for a total $2000 Cap reduction. I will pay tax,license, first month at closing in addition to the $1500.

I am trying to negotiate with them today and if they bring the monthly payment, keeping everything the same, to $400/month on the 39 month deal, I think this is good...share thoughts on above pls.

Your numbers regarding MSRP/Invoice are inline with mine, he quoted me $400 over invoice, but did not disclose that figure ($36210???).

P.S...depressing weekend in MI Sports...lets hope for next year!!

kingpcgeek · September 2008

Any leasing expert will tell you do not do a cap cost reduction. You risk losing some or all of your cap reduction as soon as your drive off the lot if your car is totaled or stolen. Insurance companies only pay for the market value of a lost or stolen car, and the depreciation starts as soon as the tires hit the road with you behind the wheel.

If you are worried about higher payments take the money that you would have put down to cut the payment in a higher interest savings account. If and when you need to make a lower car payment take some of the money out of savings to help with the payment.

rjorge3 · September 2008

King, dont waste your time trying to explain to people not to put any, zero, nada, down on a lease. it would fall on deaf ears :>). Even though its all over the forums here and the Host and Leaseman always advice buyers not to put down money on leases, they will do it anyways.

I'll tell you a funny story. My brother-in-law lease a 2006 BMW 3 On Jan 06 and put down 5,000 grand, yes 5K as a downpayment because he felt that his payments were going to be too large otherwise. Long story short, his beautiful BMW was totalled on December 06 traveling east on the belt parkway heading to Long Island (for those in the east coast)....do you know what was the replacement cost of the car according to the insurance company? 28,350! (he had no gap insurance either) and the value of the car according to the lease company (BMW) was aprox $34,000. That was $5,650 that he had to come up with plus the 5k he put down. Even after I showed him articles, internet forums posts and in real numbers, he still choose to put a downpayment to "lower" his pmts.

Some lessors will never learn their lesson, sad but true

Happy leasing

webdeb · September 2008

Hi hbaz,

Congratulations on your new car!!! WOW. Super exciting. I want the SAME ONE!!!

I've been reading thru all these posts and as a leasing newbie, I'm a little confused (with all the technical stuff). I am looking at getting almost the same car as you but ...I'm thinking of foregoing the Nav so that I can get a lower pmt (although I'd love to have it!).

Can you give me your bottom line numbers? How many miles per year? Monthly pmt (incl tax)? Lease term (39 mo)? How much money out of pocket?

Here's the deal I'm working on (now, I know all these posts say to negotiate a selling price for the vehicle - but, I read that AFTER I got all my quotes!!!). I started out by emailing a bunch of internet mgrs and little by little got the pmts down - but I dont have much to compare it to. I would just like to compare my bottom line numbers with yours to see where I'm at.

MSRP: 40,055
$ out of pocket: 2500
39 mo lease
15k mi/yr
monthly pmt (incl tax) = 465
Plus - they will pay one of my last 2 lease pmts on my current car which equals $510.

Can you share your numbers with me?

I'm a single Mom, have no clue, and need all the help I can get!

Thanks,

Signed - hoping for a black on black G37 w/prem & nav - Deb

jstawski · September 2008

I called the Infiniti dealer today and they told me that for leasing everyone uses the MSRP price. It doesn't sound right specially after reading the forums here and seeing that people are using the negotiated price.

Is he lying to me or is that true?

kingpcgeek · September 2008

The residual is based off of the MSRP. You still negotiate a selling price:

MSRP x Residual % = Residual
Selling Price + (other costs you are rolling into lease) - (cap cost reductions) = Cap Cost
(Cap Cost  Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) x Money Factor = Interest
Depreciation + Interest = Base Monthly Payment

paulo6 · September 2008

Is he lying? Is he lying?? Wow...taking you for a ride is the correct answer here.

In simple words:
They use the MSRP as a starting point
Then you negotiate a selling price like you would when buying
That new price, is what the leasing number is based on. All the math
is done from the negotiated price, not MSRP. No one should be paying MSRP on a
2008 G35 now. My dealer in Ann Arbor FIRST offer to me is $400 above invoice
which is $36215 on a $39130 MSRP car.

kingpcgeek · September 2008

I don't think the dealer was lying. I think the OP misinterpted what the dealer was saying with regards to MSRP.

Not all of the math is based on the negotiated price. Read my post right before yours. Without MSRP you cannot calculate the residual, without the residual you cannot calculate the lease.

jstawski · September 2008

Thanks for your respnoses.

Someone just offered me for an Infiniti G35 Journey with Nav, Premium and Wood 35,100 which according to Edmunds is 187 under invoice.

He is telling me that the fees are:
Bank Fee: 595
Dealer Fee: 695
Tag: 130
Tax: 80
Governental Fees: 70

What fees are negotiable? It looks to me the the 695 dealer fee is totally negotiable, isn't it?

kingpcgeek · September 2008

You are getting $187 below invoice because the dealer is charging a very high $695 dealer fee. As an example I paid a $395 dealer fee and $100 over invoice in August here in AZ

You deal equates to $508 over invoice, mine was $495 so they are equal.

jstawski · September 2008

That's what I thought. Is it possible to get rid of that fee all together?

kingpcgeek · September 2008

Doubt it, but it doesn't hurt to counteroffer. Contrary to what some people will say here, dealers do have to make some money.

jstawski · September 2008

Should I pay the inceptions and the first month out of pocket or should i include everything in the cap cost? If I include everything in then I will be paying interest and taxes on it and I would end up payinging much more, right?

kingpcgeek · September 2008

that is really a personal preference. do you want a lower amount at drive off and a higher payment or vice a verse?

jaymurnick · September 2008

Just wanted to say thanks for all the info in this forum. Y'all helped me negotiate my first lease deal without even knowing it (I've previously only purchased cars). For your info:

G35x Blue Slate/Graphite w/ aluminum
Tech, Nav, Premium, Cargo Net, Splash Guards, all weather floor mats (dealer threw them in).
39 months/12K miles/yr
MSRP: $41,330
Cap Cost: $36,866
Monthly PMT: $471.79

Cap Reduction: $500 (loyalty cash)
Tax on Bank Fee & Doc Fee: $59.78 (NJ 7.0%)
Doc Fee: $295
License fee: $350
Gov. Fees: $7.50
First PMT: $471.79
Bank Fee: $595.00
Total drive off: $2243 less $500 loyalty cash = $1743

Residual: 55%
MF: .00135

I went with Circle Infiniti in West Long Branch, NJ. I looked at Douglas on Summit and West Chester down by Philly but Circle gave me the best deal.

jackbauer · September 2008

I know the 2009's aren't in the showrooms yet...

But some people are ordering them.

Does anyone have any residual / money factor info for 2009 G37x's - coupe and sedan?

akluther · September 2008

Hello all,

I would first like to thank you ahead of time for your appreciated responses.

I am kind of new to leasing, my friend leased a G37 6MT with Prem, Tech, and Nav in May 2008 for 3000 down and 419 a month incl tax. 36 months with 15k/year.

At the time he told me, he said it was a heck of a deal being that others were offering the same car WITHOUT Tech on the same terms but payments of 450+. Those of you that have leased similar G37 can probably vouch for him too agreeing that it was a heck of deal.

Anyway, I am really interested in leasing a G35 Journey sedan and don't need many options, just mats (couldn't find on the build page. is this included?), splash guards and Premium pkg which brings MSRP to 36170 including the 815 destination. I live in the Bay Area of CA and sales tax here is 8.75%.

Being that the 09's are due now and dealers have these 08's left, I would expect to see that dealers would be offering better pricing than they did in May when my friend leased. In May, dealers were ADVERTISING:

2008 Infiniti G35 Journey Sedans (2/4WD) MSRP less $3000 or 24 Month Lease From $349 With *$0*Down

**All Leases require 1st Payment due at signing are based on 12,000 miles per year and Exclude Tax, Title, and License Fees.

I understand from research that 36 month leases lower the payment compared to 24 month and that 12k to 15k miles would be a small increase in pmts.

Anyway, I have read on many forums that the MSRP calculated on the "Build your G" from Infiniti.com is negotiable and I'm really looking for a deal.

I called the dealer who advertised the above today and she said she would have to check if she could continue the May promotion today. I wondered why she would need to check with management to sell cars that NEED to sell fast!

On the local dealer's (who my friend got a killer deal from) website, they have advertised:

G35 Sedan: 24-month lease with $2,995 down due at inception for 349 (assuming plus tax)

I don't know what to do, how do i negotiate the MSRP and is it reasonable to expect to pay 349 incl tax with only 1st month pmt down and 15k/36?

Please advise! Thanks a lot for reading such a long post. Any details I missed?
I will have a cosigner that will qualify in at least Tier 1 if not 0.

kingpcgeek · September 2008

You never negotiate the MSRP, you negotiate the selling price. Notice I say selling price, not payment. The payment is easy to calculate once you have a selling price. Right now you can get a 08 G35 for +/- 200 off of invoice. Could you get a G35 with premium for 349 incl tax with only 1st month pmt down and 15k/36? nope, not even close. Think closer to $500 instead of $349

I suggest you read the September posts in this thread, and get some leasing info at :
Leasing Guide
Lease Rates
for more information.

One other thing, leasing a G has gotten progressively more expensive since May when your friend leased. The lease rates have gotten worse, and the incentives have gone away.

eric106 · September 2008

I got a quote for a Prem Navagtion wood trim everything and the MSRP was close to 41000.00. I was told 2000.00 down 489.00 a month. What you guys think. Thank you.

ctr8 · September 2008

Hello,
Can someone please let me know if this is a good deal as i'm kind of new in the business of leasing:

2008 G35X
39 months lease
12K miles per year
Premium package
Navigation package

$2500 out of pocket (to cover inception fees +first month payment)

$450 a month(tax included)

Thank you
Al

kingpcgeek · September 2008

We think we need to know the selling price of the car

ctr8 · September 2008

of course...sorry for that. i also had some of numbers wrong:

MSRP: $40230
Negotiated price: $36,964

Monthly payment: $465 (tax included)

Delaler is saying he offered $450 if i'm taking the car for 42 months rather then 39 months.

Thanks.

oliviob · September 2008

i was just offered the following lease at a so cal dealer:

g35 journey prem w nav
400.71/mo tax incl
2500 otd
39 mos/10k mi yr
invoice: 38,380

thoughts?

fuego252 · September 2008

Hey asheh I was interested in getting the same car. Could you let me know some info about the dealer - email - fuegowho@aol.com,

Thanks

srpmp1 · September 2008

Hey guys,

I've got the following sales price from a So Cal Infiniti dealer of 38660 on a 2008 G37 with Premium, Nav and Sport packages. MSRP is around $42,500. I plan on leasing this vehicle for 39 months and 15K miles a year. I also plan on no money down/ zero out of pocket on this lease. As of today, my current credit score is 663, 676 and 675 per the three credit bureaus.

What type of payment am I looking at? I will also be leasing a FX35 at the same time so I'm hoping the dealer gives me a deal for leasing two cars from him.

Thanks for your insight!!!!

CarMan@Edmunds · September 2008

Congratulations on getting your new G35, jaymurnick. Thanks for taking the time to stop back and provide such a detailed description of the deal that you got. As you know, real world examples like this are always helpful to those who are in the markets for similar vehicles. If you'd like, you can hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

Car_man
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Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · September 2008

Hi Al. Since you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

In short, the best way to get a good deal on a lease is to negotiate as low a selling price as possible on the car that you want and then have the dealer calculate your car's monthly payment using that selling price and its buy rate lease money factor. It is difficult for anyone here to evaluate this deal without knowing what this car's selling price is, and ideally its MSRP or dealer invoice price as well. Let us know what those numbers are and I am sure that either myself or another knowledgeable community member will be happy to tell you what they think.

Car_man
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ctr8 · September 2008

Thanks Car_man !
I'll start fresh as the deal changed a bit:

2008 G35X
12K per year
39 Months
Prem. Package
Nav Package
Tech Package

MSRP: $42,575
Selling price: $36650
$2500 to cover inception fees.
Dealer makes a $400 last payment on my Audi
Monthly payment (Tax included): $470
Residual: $22316

Appreciate your comment on this deal.
Al

akluther · September 2008

This is my best offer I've gotten so far...

08 G35 Journey
Premium Pkg
1000 drive off
399+tax
39 mo/15k

What do you think?

Can I get that payment AND drive off any lower?

I'm hoping for like 800 down and 342.18 which would make my payment 375 incl tax (8.75%). Too much?

Note: I got this in writing in an email from a dealer so I suppose I can pass this around and a few dealers will trim here and there until i finally get to my "goal."

akluther · September 2008

I heard that the new sedan up for release in the next couple weeks is supposed to 1000 more msrp. Anyone know if any lease incentives/specials are offered when new cars come out?

Like I believe the body changed from 06 to 07, so when the 07 initially released, did Infiniti offer special incentives or wait?

gusbuf · October 2008

Are the October numbers available yet for the G35? If so, please provide money factor and residual for 2008 G35x 3 years/36,000 miles, as well as 2 years/24,000 miles. Thanks so much.

carexpert08 · October 2008

Hi I am about to pull the trigger on a
2008 g35x base
monthly payment of $354.77
bank fee of 595
tax for 1001.35
tire tax 12.5
license plates 100
due at signing inception and 1st payment

what do you guys think?

604doc · October 2008

The experts here would probably tell you that in order to see if it's a good deal, they would need additional info, such as: MSRP, price paid, term, MF.

kyfdx · October 2008

Mileage allowance and term... definitely needed.

CarMan@Edmunds · October 2008

Hey Al. The selling price that you were quoted looks great to me. Just make sure that the dealer uses IFS' 39 month buy rate of .00120 to calculate your monthly payment and you're in business.

Car_man
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carexpert08 · October 2008

its a 10k miles a year
39 month lease
an msrp of $35565

the rest of the figures I'll know when I get to the dealer. For now i put a refundable deposit on the car.

CarMan@Edmunds · October 2008

Yep, the October leas e program has been published. Here's the information that you're looking for, gusbuf. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 G35X with 12,000 miles per year are .00114 and 56%, respectively. You definitely do not want to lease this car for only 2 years. For some reason, perhaps it believes that the U.S. economy and in turn resale values of vehicles will be better in three years, Infiniti is no longer providing support on 2 year leases.

Car_man
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dprecocious1 · October 2008

Is there a list posted somewhere that breaks down the October 2008 Lease Program for Infiniti's Vehicles? I'm interested in looking at the money factors and residuals for all terms up to 39 months for both the G35x and the G37 Coupe. Also, is the buy rate equal to the rate that dealers offer us? or is it marked up somewhat? And if it is marked up do dealers typically negotiate on it without doing Multiple Security Deposits (MSD)?

kingpcgeek · October 2008

The best sources for consumers to find out the Infiniti lease rates are from here at Edmunds, Leasecompare or from your dealer.

I have not heard of an Infiniti dealer marking up a money factor.

gusbuf · October 2008

Posted this also on prices paid forum...

Through my local dealer's internet sales dept, was offered G35x w/premium, splash guards & cargo net for $36412. MSRP is 38080 and invoice is 34912. I think this deal sucks, but am wondering what I can realistically get down to. Will be visiting them for a test drive in a week or so. What really got me is the woman starts right out and says to me that I shouldn't even expect to pay invoice as no one is selling for that low. I know she is FOS, but I play dumb and go along. They are the only Infiniti dealer in my area within about 60 miles. Next closest dealer is about that far away.

I heard on the prices paid board that there currently is $1000 to customer and $3000 cash to dealer. Are these applicable to leases? Thanks

CarMan@Edmunds · October 2008

Hi dprecocious1. I can help you out with the information that you're looking for. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 G35x with 15,000 miles per year are .00114 and 55%, respectively. The numbers for an otherwise identical 39 month lease are .00135 and 54%.

If you were to lease a 2008 Infiniti G37 Coupe through IFS right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value would be .00215 and 62%. The numbers for an otherwise identical 39 month lease are .00190 and 61%.

You definitely don't want to either of these cars for only 24 months. For some reason Infiniti pulled the plug on its support of 2 year leases. Perhaps it believes that the economy, and in turn vehicles' resale values will be better three years from now. If you were to lease either of these cars with only 12,000 miles per year their residual values would be 1% higher.

Dealers do have the ability to mark banks' buy rate lease money factors up to bake additional profit into deals if they choose to. As long as you know what the buy rate is for the vehicle that you want you should be able to find a dealer that is willing to use it to calculate your payment.

Car_man
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dprecocious1 · October 2008

Carman,

Thanks for the info. I went to a local MD dealer and attempted to negotiate with them based on the numbers you gave me. Here is what I was quoted

G37 R3867 $42,012 Fully Loaded (He said price is about $400 above invoice)
36 months 12k miles per year .00215 and a 61% residual
Monthly Payment $605.00
36 months 15k miles per year and a 60% residual
Monthly Payment $616.00

39 months 12k miles per year .00190 and a 60% residual
Monthly Payment $561.00
39 months 15k per year 59% residual
Monthly Payment $572.00

G35x R3830 Fully Loaded: Tech, Prem, Sport AWD, Nav, Splash Guard
MSRP: $42,380
Invoice: $38,615
Sale Price: $39,218.25
Money Down: $2,000
Taxes: $2,358.98
Gov't Fees: $67.00
Doc Fee: $98.00
Residual $23,732

36 months 12k miles per year .00135 and a 56% residual
Monthly Payment $568.00
36 months 15k per year and a 55%
Monthly Payment $579.00

39 months 12k miles per year .00135 with a 55% residual
Monthly Payment $541.00
39 months 15k miles per year with a 54% residual
Monthly Payment $551.00

When I mentioned the money factor of .00114 he responded somewhat indifferently. He acted as though he wasn't sure what the money factor was but that .00114 is something that that he could do if it was a deal breaker. Lastly and most importantly, the monthly payments he quoted me seem way out of whack from what everyone else is getting on here. Btw, this deal requires that I put $2,000 down and doesn't include tax, tags, etc. According to this dealer, the deals that I'm seeing online aren't accurate because in NY for example buyers pay tax on their monthly payment and not on the sales price of the vehicle itself. This is news to me and still doesn't explain the numerous deals I've seen reported on here in the $470-$490 with only abut $2,000, $2,500 down. Is my MD dealer being straight up with me? Do the $470-$490 monthly payments I've seen on this forum not include the additional tax (like in NY)? Lastly, when people on here refer to their down payment does that typically include tax? In other words is that the total out the door expense or are there additional taxes that are not being mentioned?

ctr8 · October 2008

Hello,
I recently had an interesting experience:
I leased a fully loaded 2008 G35X. Upon delivery of the car i noticed some bizarre things:
1. Car was scratched (nothing major) both inside and out
2. Owner manual was missing
3. Car had 238 miles on it and i was told it was driven from a dealership in PA to NJ because they didn't had a truck to transport it.
4. Nav had already entries in it.
5. Sticker was missing (had to send it to the insurance company)

Dealer said he will change all the panels to solve the scratches issues. I said i do not want a "new car" to be replaced with parts. At that point i contacted infiniti consumer affairs to find out that the VIN # is listed on a different name = the car was sold but the deal didn't go through all the way. That i believe explains the miles on the car = someone drove it. The owner of the dealership said he is shocked as to what happened as he didn't know about this issue (so he claims).

They said they would like to rectify this by giving me a new car but i have to settle on interior color (originally i took the washi panels and now i have to settle on wood as they don't have that interior anymore).

What do you think i should do here?
I really love this car but want some kind of compensation as I'm compromising on the interior and for all my hassle. What are my options?

Do i have a case if i decide to take legal actions and drop this entire deal?

Thanks
Al

akluther · October 2008

Best deal I have so far in the Bay Area, CA is for a 39 mo lease with 12k/year for 372.99/month + tax. Total down = 900 - 500 (loyalty rebate) = 400 OTD

Looks like a pretty good deal so far considering I pay 400 down and 403.76 a month incl 8.25% tax...and the dealer also told me that it seems stupid to go into a 39 mo lease when I would have to pay the last yr reg and only end up using it for 3 months but I can come to the dealer at 36 mo and in many cases they will have some specials and put me into a new car and pay the last three months themselves...

Car is a G35 Journey with Premium pkg only. MSRP 36015. model 90518. i dont know the selling price, residual, or mf, but when the sales guy called me he said he would do something very "stupid" and gave me the numbers above. Seems like a hell of a deal w/o even knowing the selling price, resid, mf, etc...

What do you guys think? I know this may sound weird but I really want to get down to 399 incl tax (that three in front would really motivate me lol

) which only means i need some dealer to go from 372.99 to 366.xx, or about 6 bucks...

Doug Brown · October 2008

08 G35X Sport/Prem
MSRP - 39130
Invoice - 35810
Cap cost 34810 (invoice minus $1K incentive)
39 Mo
MF .00135
Resid. 54%
6.5% tax rate
Due at signing - $1480.27 (595 acq, 40 tax on that, doc and plates 350, first mo 453.99)
PMT = 453.99

My trouble is that I want to do multiple security deposits to bring down the MF but the salesman says that Infiniti DOES NOT do these. He ran it up the pole and they do not do it. As I understood, they do and each one brings down the MF by .0001 up to a max of 9 MSD's. Can you clarify if Infiniti does this and maybe the dealer just does not.

rickb66 · October 2008

That offer does suck!! You should be able to get well under the invoice with that extra $1000, especially when the 2009's will be out by the end of the month. Sometimes you can work with the dealership on that $3000. Low-ball them like crazy and if they don't like it, walk away. Look at the Edmund's TMV price, it's about $1800 less than invoice. Good luck.

akluther · October 2008

Working on the paperwork and getting approved right now (over the phone/fax/email)...

2008 Infiniti G35 Journey with Premium Pkg, Splash, Cargo Net.

MSRP: 36230
Blue Slate on Graphite
MF: .00120
Resid: 53%
39 mo/12k
Looks like edmunds invoice is 33046...

Total Down= 900 - 500 (Rebate for current leasees in same household) = 400
Pmts = 399.99 Incl 8.25 Sales tax...base pmt w/o tax = 366.99

Looks like a heck of a deal huh?

Infiniti G37 Lease Questions

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