Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
Options
Comments
I'm in negotiations with a local California dealership and the internet sales manager says for a 2010 G37 Journey Sedan, the residual is 60% not 64% for a 36 month /10k yr lease. Are they pulling my leg or did you accidently quote me for a base 2010 G37 sedan? Thanks for the previous assistance.
cgib2000
The dealers here in DE are quoting a residual of 61%.
They also mentioned that residual of 64% is for the coupe and not the sedan.
Anyways, will wait for Carman's reply.
Options are:
- premium
- nav
- illuminated kick plate
- black grill
- splash guard
Sale Price = $46,150 ($400 below invoice)
Due at Close = 1,595 ($575 1st pmt, $595 lease origination, $200 DMV, $68 taxes and $162 left for dealer fee)
Monthly payment will be $539 plus tax
Given $400 below invoice and only $162 left for dealer fees, I think this ended up being a pretty good deal.
2010 G37 Journey Sedan, w/ Premium Pkg
MSRP: $37465
Selling Price: $33559
Dealer Special Promotion Rebate: $1000 (to be used as cap reduction)
Adjusted Capitalized Cost: $32559
Residual @ 60%: $22479
Money Factor: .00155
Monthly payment: $365.31 + $31.96 (tax) = $397.27 total monthly payment
Due at signing: 1st Month $397.27, DMV $473, Tax on cap reduction $139.56, Acq. Fee $595, Tire tax $8.75, Doc Fee $45: $1658.58 total due at signing.
Selling price looks very reasonable (1,000 (dealer cash) below Edmund's invoice) although I would suggest knocking off another 600. One thing that really caught my eye is that your tax rate is 8.75%, yet, the tax on the 1,000 cap reduction is 139.56 (13.96%!) instead of 87.50. This makes no sense. Otherwise, it looks like a fairly good deal.
John
I think I'm going to sign on this deal tomorrow.
Can anyone pls advise asap if it doesnt look good or the dealer is overquoting anything.
THANKS!
G37 AWD non sport with prem pkg and Nav
msrp: 41,100
sell price: 37,800
mf: 0.00189
res: 61%
lease amount = 498 with only first month down.
Please let me know if anyone has ever heard of taxing the acquisition fee.
Thanks.
I don't know what state you're from but, in most states, the acquisition fee is taxable. And, that's exactly what happened in your case. The 139.56 reflects tax on the 1,000 cap reduction and the 595 acq fee at 8.75% just as you had indicated. I should have caught that... sorry.
John
I saw you posted a 64% Rv for 36month/10k lease for g37 sedan.
However, I see some folks saying it was 61% etc.
I am interested in the G37 Journey sedan (WITHOUT premium package as all I need is the bluetooths and ipod and rearview) Msrp is 35, 315
The dealer here in florida quoted me 60%.
Could you clarify the RV's at 36 and 39 months.
the MF's qupted at 36 were .00155 and 39 were .00171 which seemed correct
Thanks very much
D
Could you tell me the MF and Resid for both a G37 Journey and G37X sedans for 36 mo./15,000 mi.
Is the rate same for 12000 miles/ year? I am looking at a vehicle with nav and premium.
Also, is everone here leasing because it's the better deal to lease over buy? I don't have a business so no tax benefits.
Got this deal from a dealer in NJ for AWD with prem pkg and Nav.
Let me know if it works -
Msrp: 41100
Sell price: 37335
mf: 0.00189
res: 61%
Monthly pymt: 495
with only first month down.
I like this deal and is the best I've got in this area. Let me know your opinions. thanks!
I saw you posted a 64% Rv for 36month/10k lease for g37 sedan.
However, I see some folks saying it was 61% etc.
I am interested in the G37 Journey sedan (WITHOUT premium package as all I need is the bluetooths and ipod and rearview) Msrp is 35, 315
The dealer here in florida quoted me 60%.
Could you clarify the RV's at 36 and 39 months.
the MF's qupted at 36 were .00155 and 39 were .00171 which seemed correct
Thanks very much
D
ps) BTW...you have helped me so much in the past with my Odyssey and Mazda leases. Kudos to you good sir!
Im working with a dealer down in Maryland that has beat all dealers in NJ im actually going down this Saturday to pick up my car. Let me know if your interested in speaking with them shoot me an email to frankp118@yahoo.com
36-months
12k miles
Residual is 63%.
$0 (zero) cash down
$709.17 / month including tax
36-month lease
12k mi / yr
.00325 money factor
Isn't that money factor very high? What should I be asking for?
Update: It turns out the money factor was high because of zero down. Here is the updated rate
$606.32 for 36-months;
$1283.23 due at signing,
12k miles/yr ;
63% residual;
factor .00207
The second one seems correct and better but can the experts comment? Can the deal be improved even more?
Make sure you ask for a breakdown of all fees they're charging. Ask them what they're capitalizing at the beginning of the lease. I imagine they're adding at least $800 to your "sale price". My dealer tried to do this but removed it when I called him on it.
MSRP: 38010
Selling: 34232.91
Cap. Cost Reduction: 1000 (dealer rebate)
Adj. cap cost: 33232.91
Residual (60%): 22806
Money Factor: .00155
Base Payment; 376.50
Monthly tax @8.75% (California): 32.94
Total monthly payment: 409.44
Due at signing: DMV 482, Acq. Fee 595, Doc Fee 45, 1st Month 409.44, Gov Tire Fee 8.75, tax on rebate/acq. fee 139.56 = 1679.75 out of pocket
$43,115 MSRP
Lease payment for 39 month w/ 15,000 miles per year:
$433.95 plus tax.
$1155.15 total drive off based on LA county tax.
$38300.00 Selling
.00186 money factor
62% residual
Please let me know if you think this is a good deal.
Thanks
If I use $606.32 (assuming that's your pre-tax payment), then they are capitalizing $47,906.
If I use $554.98 (assuming the $606.32 includes 9.25%), then they are capitalizing $46,190.
Both these are higher than what they're tell you, so you should push them hard to figure out what else they're capitlizing.
I'm looking to lease another G. Looking to get a G37xS, Prem, Nav, Wood, Tech, other small accessories that used to be included . . .
Anyway - I'm seeing:
$1,000 Manuf. to dealer cash and
$1,000 Infiniti loyalty cash right now
If I lease another G would I then conclude that, whatever the dealer gives as his selling price, he would be getting the $2,000 in incentives on top of that?
In other words, if I get invoice + $500 and no mention of the incentives then the dealer is really making $2,500 plus the holdback right?
So with these incentives I should be able to get to invoice MINUS $2,000 and the dealer is still making their holdback correct?
Just want to make sure I'm reading this correctly. I hate the games so I want to make sure I'm barking up the right tree here.
Thanks again in advance!
Jay
The deal:
39 months, 10k/month
$417/month
Researching this number last night, it does seem to be quite a good deal. But I still think there is room to work with.
Does anyone know the INVOICE price of a G37x w/ premium package?
The GM of the dealership came out to speak to me and told me at this lease price they are already losing 1700 on the car. I don't believe in losing deals... there must be some kind of dealership incentive they are receiving on top of the $1000 cash incentive for the memorial day weekend. Does anyone know anything about this?
Thanks all!
Just wanted to share my deal with everyone that I finally closed this past Saturday.
2010 G37X Sedan Liquid Platinum/Graphite with Premium, Nav, Sport, Wood, couple other extras.
MSRP: 42,760.00
Selling Price: 38,211.00
36 Month Lease, 10k miles/yr
Residual: 62%
MF: .00175
Bank Fee Rolled in to lease 595.00
1000.00 Cap Cost (This is my loyalty $$)
Net Cap Cost: 37806.00
Total Due at Lease Signing: 843.00 (1st Month, DMV, Doc Fee)
Also made 5 MSD's which cost me: 2250.00
I also had a trade in at 17400.00 which the dealer gave me a check for 3K since I had equity in the car.
My monthly payment is 394.00 with zero tax due to my trade in. Very happy with the deal. I was paying this amount for my 2005 G35 and that one only had premium package.
If anyone wants to know the dealer they are by far the best I have dealt with please shoot me an email and I will share the details with you. I also want to thank John for all his help in this process.
I am in market for G37 - not sure if I will go for a RWD or AWD (coming out of an Audi A6 2.7t with quattro so used to AWD).
Just wanted to share the offers I received to help me negotiate better. Thanks for your assistance!
2010 G37X Sedan Premium package (no NAV)
MSRP: 39,430.00
Selling Price: ???
due at inception:
- $4,000 down
- $595 doc fees
- $450 bank fees
- $605 taxes (on above costs?)
- $5,650 total due
- ($1,000) IFS conquest rebate
- $4650 - total due at inception
Monthly payment - $370 (includes taxes)
Term - 39 months
Annual mileage - 10,000
and
2010 G37 Sedan RWD base model
MSRP: 34,130.00
Selling Price: ???
due at inception:
- $3,250 down
- $595 doc fees
- $450 bank fees
- $600 taxes (on above costs?)
- $4,900 total due
- ($1,000) IFS conquest rebate
- $3,900 - total due at inception
Monthly payment - $299 (includes taxes)
Term - 39 months
Annual mileage - 10,000
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.
Since you have failed to provide the most important number to evaluate a lease, the selling price, its tough to evaluate your deal.
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
Can you please provide the June Residual and MF for 2010 G37x Sedan 36 months, 12k miles per year. Also what % do I add for 10k miles/year?
How about 2010 G37x Coupe?
thanks
gperr
Journey with Preimum and Sport pkgs.
Dealer puts on Window tint and wheel locks (why do they force you to buy this?).
$37 115 negotiated price ($36 915 if I bought it outright)
12K/ yr mileage
58% residual (59% if I went with 10K/yr)
0.0021 MF (disappointedly they told me 0.0017 on the phone... why do they bait and switch???)
Monthly payment $451
Upfront: $2700 including first month
Residual: $23 000
My only advice... if the guy is a fast talker... move on. Stick to your guns if you got different pricing on the phone. I feel I left money on the table.
I really love the car, but the buying experience is always so disappointing.
Also - I know infinity offers a 39 month lease also. If the numbers appear better to you on the 39 month, please let me know. I consider you an expert!
Thanks again!
Tony
Just like others need the #s again for the month of June
12k and 15K miles
36 months and 39 month
Convertible with MSRP 50,815 with $6K off MSRP.
Let me know if the #s have changed since May.
thanks again
cheers
:shades:
Whether you lease or buy, making a cap reduction or down payment is not a wise decision. Lease or buy, the insurance carrier couldn't care less and will value the damaged vehicle at ACV (Actual Cash Value (i.e., market value)), regardless.
A car is a depreciating asset that is purchased for consumption; not investment. No prudent investor would ever invest in a stock they believe will decline in value. GAP protection comes to the rescue only in those instances where the amount owed exceeds the ACV and, then, there may be some limitations. Larger cap reductions or down payments serve only to narrow the GAP and may even eliminate it altogether... GAP insurers will love you for it! It might be helpful to remember the following before deciding to make a down payment or cap reduc...
If the GAP equals or exceeds 0, then you owe nothing and receive nothing. However, you've lost your entire cap reduc or dp. The insurance company will pay the fund provider the ACV and the GAP carrier will pay the fund provider the difference beween the amount owed (lease or loan balance) and the ACV. So, the fund provider doesn't lose; you do!
If GAP < 0, then you'll receive, from the fund provider, the difference between the ACV and the lease balance or loan balance plus any transaction costs incurred by the fund provider. However, this may not be sufficient to cover your cap reduc or dp. In which case, you would lose the difference.The only thing the fund provider wants is the outstanding balance owed plus any transaction costs. You, of course, get whatever remains (the scraps so to speak).
One other thing... never ever buy GAP insurance from a dealer if the fund provider doesn't provide it or, provides it at additional charge. The cost is inflated by about 1000%!!! Check with your insurance carrier and, whether you buy or lease, your carrier can attach a GAP rider to your existing insurance policy. The annual cost, as a rule of thumb, is approximately 0.1% of the vehicle's MSRP. So, if the MSRP is, say, $30,000, then your annual GAP premium is about...
0.1% x $30,000 = $30 annually.
Hope this helps.
John
PS: Yes, there is a lease balance and it's calculated in much the same way that a loan balance is calculated.
Fiancee is turning in a 2007 G35x (39,000 miles lease and she has 27,000 on the car so she didn't use all her miles obviously.
We go to the dealer and he cuts us this deal on a G37x with Premium, 39 months, 10,000 miles per year.
MSRP - $39260
Neg (Cap Cost) - $37345
Rate - 1.62 (the sheet he gave us says rate of 1.62 but I assume its a money factor of .00162)
Residual - 61%
License - 67.50
Doc - $239.50
Bank - $595
NJ Tax is 7%
PMT - $459
And we would put $1000 down cash to cover first mnth's, license, doc fees.
Right off the bat, the negotiated price is high IMO. In fact, Truecar says I should be able to get $500 or so over invoice which would be much less than the $37,000 he quoted.
But then he starts talking about how he can also give us $1000 loyalty THEN another $500 rebate. But then he says, that the $500 will be used to offset the fact that the existing G35 we are turning in has a scratched rim (and it does, pretty noticeable). So they will appy that $500 to the rim and then we won't have to pay anything out of pocket to return the car. Right then I smelled something funny.
Now I read that Infiniti is running $1000 loyalty rebates + $1000 regular rebates.
I think we are getting hosed here. One, the negotiated price is high, two, I think he's playing funny games with the rebates and this whole $500 will be applied to the other car.
Thoughts?
You make a very good point when you mention interest rate. If the cost of money is high compared with savings rates or investment opportunities and associated returns, then it may not be a bad idea to put money down on a car. It's analogous to deciding where to allocate discretionary funds...
Gee, do I put the money toward reducing debt on a credit that carries a 24% APR or; do I sock the money away in a 5% CD? It's a no-brainer.
The difference between borrowing rates and savings/investments rates, given the same level of risk, has been insignificant over the past several years. And so, based on the interest rate spread alone, putting money down on a car hasn't been particularly attractive.
You just have to make some risk assessments coupled with good common sense.
John
Any updates on the Residuals and Money Factors for June on a G35x sedan with Premium for 10,000 miles per year and 12,000 miles per year?
Thanks.
Dealer gave me a screen shot of the lease details (F&I screen). Cap Cost, Reduction, Term, etc. It says Rate 1.75. Am I to assume this is just .00175 MF?
Thanks.
That is a bit confusing, but my guess would be that the 1.75 is the rate that you will be borrowing the money at in % terms (so 1.75%). In order to get your mf: 1.75/2400 = ~.00073, which is an AWESOME rate if you aren't putting any MSD's down. So either im looking at this wrong and you are correct that the mf is really .00175 or you should seriously consider taking this deal (as long as there isn't something else off).
It has to be the .00175 is the MF... as I don't know of any .00073 MF on any G series model w/o any MSD's as Brad mentioned.
The numbers for an otherwise identical lease of a 2010 G37X Sedan are .00129 and 60%.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum