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Comments
Help please, need to get back to the dealer.
The money factor is probably so low that it won't equate to very much interest if you just make payments on the full amount.
As far as it being a good deal, I have no idea. Money factor, residual, MSRP, and selling price are all important details.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
does anyone know what the current residual rate and MF are for a 12 month lease coupe in So Cali?
please i need to know right away
Thanks
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Price $37,085
Trade in on my old car $4500
Residual Value 56%
Money Factor .00141 (which they said was equal to 3.38%)
I live in Chicago, so sales tax is 9% and according to the dealer, Chicago also has an additional 6% use tax on top of the lease fee.
I was quoted a monthly lease cost of $506.46 with $731.46 due at signing. This is for a 36 month lease.
Do these numbers sound right? Thanks.
For my lease, the money factor for 39 months dropped down to .00093, which actually made the total of 39 payments less than the total for 36 payments at the higher money factor. Not only were the extra three months (more than) free, it reduced the residual which means the car costs a bit less should I decided to buy it out at the end of the term.
This is what I gather from your post...please let me know where I am mistaken.
MSRP: $34.9K
Invoice: 32.09K
Downpayment: $2K $1100 of which is applied as cap cost reduction
MF: .0003
Residual: 65%
Sales tax: 6%
Term: 39 months/15K miles per year
this gives a monthly payment of $257 ?
According to my calculations it would be $304
$288/ mo for the depreciation plus $16/mo in finance fees
$257 sounds like a great deal...and would jump all over the deal
The post you refer to was not for my deal but another posters. How did you get to your $11,232 depreciation total?
Anyway, I arrived at my numbers this way:
MSRP: 34,900
Base Cap Cost: 32,092
Costs/Fees: 550
Cap Cost Reduct.: 1,650
Adj. Cap. Cost: 30,992
Residual Value: 22,685
Money Factor: .0003
Depreciation = $8,307
Finance Charge = 628
Total Payments = $8,935/ 39 = $229.10/mo.
Tax (6%) = $13.75
Total Monthly Payment = $242.85 (actually lower than my
ballpark number)
2006 G35 CPE 33,800
sunroof 1,000
splash guards 210
trunk mat 80
destination 650
$2964 due @ delivery
336.05+tax=369.65
12 month lease 12K/year
Comparing the numbers in this forum, I realize I would be paying 1300 more than two of the posters here. Is there anything I could do at this stage, besides walking away with $500 gone? Any advice is greatly appreciated. I am a first time leasee and I should have done more research before I jumped in. Anyway, you guys have been very helpful by posting your numbers. This forum is great. Thanks.
Car_man
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I got this deal from Ray Catena in Edison, NJ yesterday, hope it helps you...and I'd love to hear what others think on my deal.
2006 G35 6-speed, sunroof, aero package
39 months/ 10k
MSRP 33,450
Selling price: 30,400
Residual: 56%
Money Factor: 0.00066
Monthly Payment: 387/month including NY 8.375% sales tax.
Upfront: 550 (bank) + 225 (NY dmv) + 200 (doc fee) + first month payment = ~1400
Seems like a pretty good deal to me, although I think I can still negotiate on the documentation fee. Let me know what you guys think.
Steve
Car_man
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Banks base acquisition fees are not negotiable, but like with money factors dealers are often allowed to mark-up acquisition fees to add hidden profit to deals. Infiniti Financial Services' base acquisition fee is currently $550. Make sure than you don't pay more than that.
Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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Does this seem right?
2006 G35 Sedan, 6 speed, Navigation
Selling Price: $33,000
24 Month, 10k a year, .00003 MF, 68% Residual
Price Per Month: $445.46 + tax = $467.73
I'm considering leasing a '07 G35 sedan for 36 months when the new models are available in Nov. Does Infiniti financial offer annual mileage allowances less than 12K/yr which I think would lessen the monthly payment?
1. Does infiniti offer their multiple sec dep MF reduction on the G35 as well?
2. I am considering an 06 Sedan with Nav, Prem, Aero and Sport with a MSRP of $38,800. Carsdirect quotes the car for $32,976. Invoice is $35,100.
So, I figured with IFS's MF of 0.00086 (reduced to 0.00001 with 8 sec dep) and a RV of 56% for 10k/yr 36 months, I am looking at a minimum drive off, $2,500 refundable dep, and a $299 a month plus tax for a fully loaded 06.
What gives?
I am a newbie to this site and you seem like the man with all the knowledge. Please help a brother out in nYc...
The deal is:
2006 g35 coupe Ivory/Pearl which is so hard to find in nYc
12 month lease
3100 down with all taxes included
360 per month
12K miles per year
Prem. package/Sport/Navigation/Manual transmission
Let me know your thoughts?
Many thanks!
thanks!
h
I'm looking to lease a G35 6MT tomorrow.
Does anyone know the current residuals and money factor for both 24 month and 36 months (12k miles per year).?
Please help!
Thanks.
I am in California and interested in leasing an 06 coupe or sedan (2wd) with Nav for 24 month, 12k/year. I am interested to the answer to the multiple deposit question as well. I did that with 2 lexus but was not aware that Infinite offer this option.
2006 Coupe Automatic
Premium Pkg
Wood Trim Interior
Trunk Mat/Splash Guards/Freight
Window Tinting
Negotiated sale price of $34,589 plus fees (MSRP 37,390). Agreed as the sale price by myself and dealership. Next we discussed my trade a Toyota which had 4 months to run on a 48 month lease. They offered a price which would leave me ~$135 upsidedown. I accepted that offer and then we moved on to financing.
I told them that I wanted a 39 month lease with 10k miles which should give a residual of 60% and .00232 money factor. The salesman went off and came back with a monthly figure of $553. I told him that looked a bit high and I thought that based on discussions with another dealer that the monthly was $546. Unfortunately I was remembering the price for a 36 month lease from other dealer as I never priced out a 39 month lease. The general manager walked by and said $546 would be fine and they would work things out.
I then cooled my heels for a bit until the finance people were available. By now I was pretty sure that my memory on the monthly cost was wrong. When I went into the finance department to sign the paperwork, I asked to see the deal screen to confirm that they were using the money factor and residual I expected. Both were the base rate that I was expecting without dealer markup. I then saw that the purchase figure was different from the $34,589 that we had negotiated so I indicated that the buy price was wrong. The finance manager talked around the number a bit indicating that it included the 'fees' which I was not going to pay up front. We went through them and she referenced a bank fee of $550 and a doc fee of $369, both of which I was expecting and are shown on the lease agreement. The license plate fee estimated of $575, a tire tax $5 and additional $135 payoff for Toyota. She also indicated a $297 second bank/doc fee. Despite going through all of these figures and my up front cash (which didn't add up correctly either), she couldn't make the numbers come out exactly right. But it seemed like we weren't too far off (like $75 off) so I let it go and signed the paperwork and took delivery.
After getting home and taking a good look at all the documents, I've realized that the dealer increased the vehicle purchase price in the lease by around $1,280. There are only 2 fees referenced in the lease contract, the $550 bank fee and $369 doc fee. The finance manager's explanation for the different Capitalized Cost would require double addition of the $550 bank fee and including the first month payment in the Capitalized Cost, only then could they make the figures come close even with or without the phantom second bank fee of $297 which isn't reflected anywhere in the lease agreement.
The true lease price for 39 months should have been $507 with $1,223 up front instead of $546 and $1,163 up front (which also didn't match with what I had agreed to pay up front as I should have paid another $60 up front).
I should have pressed the finance manager about clarifying the Capitlized Cost more than I did, but do I have any recourse now that the wheels have rolled over the curb and the lease is signed? They indicated that they video and tape the financing manager. Since I specifically asked about the Capitalized Cost and confirmed that the deal was structured with the money factor and residual that I had offered, can they get away with changing the purchase price that we had agreed on without disclosure?
Unless you have a signed purchase price agreement in your pocket, yes, they can write down whatever they want on the contracts, unfortunately, and there is nothing you can do about it.
You COULD go in and argue and there is a slim chance they'd be honest and change it appropriately, but they aren't required to if you have no proof otherwise.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Thanks very much.
I am looking for a lease on a G35x Sedan, 15K per year, no premium package. A dealer quoted me the following through Infinity Financial Services:
Car price of $32,520.83 will have a monthly payment of $433.47. The money factor is .00085, and the residual for a 15,000 mile a year lease is 54%. This is with no money down and a total of $619.97 due on delivery.
Is this a good deal? What should I shoot for?
This adds up to $32,257, which is $263.83 over invoice.
SD Amt LMF
1 700 0.00216
2 1400 0.00206
3 2100 0.00196
4 2800 0.00186
5 3500 0.00176
6 4200 0.00166
7 4900 0.00156
8 5600 0.00146
9 6300 0.00136
10 7000 0.00126
G35 6MT
Aero pkg
Sunroof
24months / 12K lease
Cap Cost: $29871 (MSRP 33600)
64% Residual
with $4000 total net due at signing
Monthly payment after tax $250 OTD
Thoughts are appreciated
In comparison, a fully loaded G35 fully loaded sold at invoice on a 24 month lease with IFS will cost around $11,870 or about 49.5 cents a mile. Looks like you got a good deal.