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We added satellite radio, which brought the price up $800, but only brought MSRP up $350
24months / 15K lease
Agreed upon value of vehicle:$37006(MSRP 39740)
68% Residual/.00147 money factor
We paid nothing down. After taxes/fees/etc. 1st payment was $688 and 23 additional payments of $599.55
This was in December (today). Is 68% the correct residual? I've never heard of dealers making money on the residual, but I guess it is possible. Was the residual on this lease 70% in November (2 days earlier?) Car Man, any thoughts? Anyone else?
Color Black on Black
Premium, Navigation, Technology, Packages w/ Sirius Sat.
Basically Everything but active Steering, Splash Guards, Maybe they will throw in the wing. (Maybe)!!!
24 Month Lease 10k miles a year.
1,500 Down + 800 Bank Fee + 500 Destination Fee + Tax 8.375
So a Grand Total of about 4,000 Due at Signing. I Estimated the Tax to be About 1,200.
443 a Month.
I am not the smartest guy in the world. Need fellow car lovers help. Don't know how to figure out what the correct deal is. Am I being robbed, Great Deal, Am I in the Ball Park? If I left out any info, please let , me know, I will provide. Thank you in advance for your help, I need it!!!!!
Still looking for an assessment of my lease, a couple posts above. You around Car Man?
2007 G35 Sport, with Prem + Nav.
48 months / 12K miles
44% resid.
MF .00248
The money factor looks good relative to what has been out there the past few months, not only for Infiniti, but Lexus as well. But the actual "top line" price you negotiate is the one that will drop your monthly payment the most. A 0.0001 move in the MF will only save you approx $6/month. For every $1,000 reduction in the negotiated price, you are talking $30-32/month.
36 months 59% resid MF .00212
39 months 58% resid MF .00228
This would be a lot easier if all dealerships (at least in the same area) quoted the exact same rates.
Car_man
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Dealer invoice is a very good price for a lease of a 2006 Infiniti G35 Coupe. I'm not sure if Infiniti Financial Services will let you roll that much negative equity into your lease. For now let's assume that they will. According to my calculations, if you were to lease a 2006 Infiniti G35 Coupe with an MSRP of $39,700 and a selling price of $47,158.65 through Infiniti Financial Services for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around a whopping $783. As you can see, the negative equity is really killing this deal. As I mentioned earlier, IFS probably won't let you roll this much into your new lease. If you want to get out of the Mustang now, you are probably going to have to pay several thousand dollars out of your pocket to do so.
Car_man
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The best way to tell if you are getting a good deal on this car is to look at its MSRP and selling price. These numbers will show you how much of a discount you are being given on the car that you want and will enable you to calculate what its monthly payment should be. If you let me know what these numbers are I will be happy to give you my opinion of this deal.
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That covers this car's price, now let's look at the lease program. The money factor that you were quoted is too high. Infiniti Financial Services' current buy rate lease money factor for a 39 month lease of a 2007 G35 Sedan Sport with 15,000 miles per year are .00228 and 56%, respectively. Make sure that this is the money factor that is used to calculate your car's monthly payment.
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The car that you described, an '06 G35 Coupe with Premium & Nav has a spread of around $3,300 between its full MSRP and dealer invoice price. You were quoted a $2,734 discount on it. This is probably right around $500 over invoice, which is pretty good.
Bottom line: the lease program that you were quoted is correct and the price that you were quoted isn't bad.
Car_man
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I would be happy to share my thoughts on this deal with you, however you never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. Let me know what these numbers are and I'll tell you what I think.
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Now...if you could take that same $1000.00 and make 2 addl. security deposits and drop the money factor by .02% it calculates out to roughly $12/mo. less on your payment. So, if you take that $144/yr. savings and put it in an account at 5% compounded annually for the same 3 years, in the end it will be worth $643.36 PLUS you will get back $1000 in sec. deposits so your total is $1643.36.
Crazy huh? Now, I'm no finance guy, so if someone can show me if I'm making a mistake, please tell me, otherwise it seems like if you have money just sitting in a low interest cash account and not invested in anything and don't need the direct access to it, it is worthwhile to use to lower your car payment :surprise:
I'm not sure about that $12/month, though. Is that correct? Seems like an awful lot. At a reduction of .0002 MF, I'm only getting about $3.60 difference. Maybe I'm doing something wrong?
'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
Second question...I see the Acquisition fee listed as $595...is that in addition to the $700 acquisition fee listed on the Edmunds TMV page for a 2007 G35 sport, or is that the same line item? Basically, can I remove that number when calculating the invoice price since it will be calculated in as part of my drive off?
Third question...is there a resource that has past years financial numbers posted anywhere. I'm just trying to research the exact numbers on my current lease and want to see where the dealer made their money. When I plug in the numbers on my lease term sheet everything works out, but since my end of lease buy out is $2k less than the residual amount listed on my paperwork, I'm wondering if the bank numbers were lower and the dealership just increased the MF to make a bit more profit. If that was the case, might I have some equity in the car since my buyout is less than the listed residual?
FYI - here are the specs on my current lease if it helps.
2003 G35 w/ Premium, Navi, Sport, full Aero body kit.
Cap - $36750
MSRP - $39600 (approx)
resid - $19818
cap reduction - $515
Acquisition fee - $595
License, Registration, and all doc fees - $380
Term 48 mos.
Monthly payment - $509.95
total drive off $2000.00 (1st mo., acq fee, registration, and doc fees)
Sorry for the long post. Just trying to get as agressive as I can with my upcomming lease. Thanks for all your help Car_Man
Assume $35K cap cost + $21K residual..
.0002 X $56,000 = $11.20
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'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