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I don't suppose you have the complete lease rates for M37 and M56, in both regular, Sport, and AWD, for all of the lease terms? It's about time to dust off the 'ol spreadsheet again and see what makes the best deal.
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I'm looking for MFs and Residuals on M56 and M56x for 36 or 39 months with 15K miles/year.
Thanks again
M56 39/15k = 53% (MF range between .00185 to .00465)
M56x 36/15k = 55% (MF range between .00195 to .00465)
M56x 39/15k = 52% (MF range between .00189 to .00465)
2011 M 37 Premium Package with Nav MSRP $ 50,840
Capitalized cost $45,888 (Includes all Owner Loyality inputs)
Residual 55% Money Factor .00194 39 month term 15 k annual mileage
Turns out to be $620, per month plus Tax
1 st month payment and Tag total out the door.
How does this deal compare with the Best and Brightest that have come across this forum? I prefer the 24 month lease but the dealer insist there is no longer such a thing.
Thanks in advance P.S. Does anyone have a handy spreedsheet for comparing the various lease combinations?
Please provide more info on the deal.
Thanks!
I would be very surprised (shocked) if the 24 mo lease wasn't still available although it might not be the best deal. You should definitely have the dealer run both the 36 and 39 month cases though..,don't take the dealer's word that one is less than the other..,.because the residual and perhaps the mf change between the two terms.
Thank you!
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2011 M37 10,000 miles, 57%, with a MF of .00284
Is the MF high? I calculated it to be about 6.8%
I am still in play, will post final deal when it is done.
Thanks to all for feedback.
I followed up with the dealer and when pressed he clarified that the 24 month lease is available but in his view not the best deal.
I will pull together a comparison spreadsheet when the April numbers comes out. I used your security deposit idea when I leased my first M back on 06. It turned out to be a significant savings, although I did have to make the dealer read his leasing manual to find it!
I have a deal for one with 39 months/12K miles (posted earlier - got .00036 and 48%) and I wanted to see about changing the terms before I pick up tomorrow (to get into the new M faster).
Thank you.
MSRP: $52435 (includes destination charge)
Gross Cap: $49044
Net Cap : $47718 (Down Payment of $2000 less 1st Month) deposit waived
Residual: $24644 (47% MSRP)
MF: .00036
MO Sales Tax: 5.475%
Term: 39 month @10,000 miles year
He says pymt =$674
I say = $617.69 + 33.82 Tax for mo pymt of $651.51
Not far apart on totals but seems like he isn't coming off MSRP much, he says because of interest rate offered. What Think of his deal offer? Can buy for around $42K straight out.
1) If you can buy for $42K, then that's the number he should be using in the lease as your capitalized cost..
2) I have no idea what "net capital" means...that number should be $42K
3) You should not make any $2000 downpayment....,the number is $42K without your $2000....and it's a poor idea to make a down payment up front.
4) use that $2000 to loan infiniti 3 multiple security deposits which will reduce your money factor to .00006....thus reducing your payments...and you get the money back at the end of the lease.
Payment sounds very high...you could probably lease a 2011 for that amount.
I can't wait to pick it up tomorrow.
Tier 1 MF .00193 .00185
Tier 2 MF .00262 .00255
15K Mile Residual - 56% 53%
12K Mile Residual - 57% 54%
10K Mile Residual - 58% 55%
Infiniti Lease Loyalty Cash = $1000
Has anybody leased one of these yet? If so, can you provide the details of your purchase?
I am working on one right now with a few local dealerships and will post my results. The best deal offered so far is only $1500 off MSRP.
You negotiated sales price was $45,888? This was with absolutely zero cap reduction correct? The first month's payment was actually for your first month's payment and not a down payment on the cap cost, correct? You just paid the registration/title fees out-of-pocket instead of rolling them into the lease, correct?
That looks like it would come out to a sales price of $579 below invoice on that car. Any furthur headway on this deal?
2010 M35x with advanced tech, tech, spoiler, splash guards and carpeted trunk mat, trunk net, wheel locks. The MSRP was $55,705. My cap cost was $42,914 ($12,791 off MSRP). This was with VPP, lease loyalty and $4,151 additional dealer discount).
For a 36 month/12K mile lease (MF 0.00003 and residual 49%) my monthly came to $500 per month, inclusive of NYS taxes (8.625%). My total due at signing was $1,000 (1st month's payment, $240 DMV for new plates, $75 doc fee, $12.50 tire disposal fee, $172.50 for taxes on loyalty cash).
Hope this helps. Great car (my 5th Infiniti). I do expect to get out of the lease early when the deals on the M37x reaches typical bad economy levels.
How long was your term? 24 months? 36 months? 39 months?
What was the final capitalized cost on which the lease was based?
What is your monthly payment?
Thank you!
Here's the numbers for the rest of the models:
'11 M37 AWD: .00196 / 58% for 36 months & .00185 / 55% for 39 months
'11 M56 2WD: .00193 / 56% & .00185 / 53%
'11 M56 AWD: .00195 / 55% & .00189 / 52%
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Infiniti Financial Services does indeed still offer 24 month leases...however Infiniti is no longer supporting them. If you opt to go with a two year lease, the money factor jumps to .00240 (top credit tier). If I was in the market for an M right now, I personally would go with a 36 or 39 month lease.
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Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 M37 with 10,000 miles per year are .00194 and 57%, respectively.
Make sure that whatever dealer you work with uses this factor to calculate your payment. If this dealer isn't willing to do so, try shopping around.
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39 months
10k miles a year
$1,500 due at signing
$645 a month.
I dont have any figures on what he based this payment on. It seems a little high, but No one on the North east (new york) have m37 sport. Dealers say "due to our weather we only order m37x. if you want sport, we can order and you can wait 3 months for it"
Thoughts?
Don't worry too much about your salesman getting nothing. Most dealers have a "minimum" commission for their salesmen...so he'll get $250 or more, no matter what you pay.
You should never put money down on a lease. If you have $5000 to use for a down payment, apply that, instead, to make multiple security deposits which will reduce the money factor (interest) that you pay...and you will get the $5000 back at the end of the lease. It's a much better...and much safer deal than giving infiniti the money up front. (the danger with a down payment is that if you total your car or it is stolen, they will keep that $5000 instead of paying the gap insurance...and you lose the $5K).
Giving an additional grand or two off for owning a brand (Infiniti) just indicates that there is that much additional wiggle room (margin) in the deal, or the cost TO the dealer. Wonder if one could negotiate it out of the deal. It would have to come from Infiniti, I believe.
Why should I be required to underwrite loyalty incentives for others? This has always pissed me off, and has kept me from seriously considering an Infiniti. I guess it's a consequence that Infiniti has factored in, and they believe it creates more sales than it loses.
I disagree and believe it discourages first time buyers, for whatever it's worth.
The $45,888 in my deal was the Cap Cost used for the leasing calculation. I know that it included the Loyalty reduction and I am unclear on the specifics for the remainder of the cap reduction.
I have a June 1 turn back date for my current lease and thus have decided to watch the market for a bit longer. Traditionally the deals get better as you get deeper into the summer.
Based on recent threads, I am also planning on looking at the 2010 lease option. With many folks getting 10 k or better off of MSRP the deal looks compelling.
Good Luck in your hunt!
I think that is a good plan! My lease on my 2007 M45 ended on February 19th but I extended it two months to April 19th to give myself more time to check out my options (2011 M56 or 2010 Mercedes E550). The Mercedes dealers are willing to go $2000 under invoice but Infiniti dealers are barely budging off MSRP on the M56. I am going to extend my lease another two months (June 19th) to hopefully get a better deal as the initial wave of inventory is bought and the lots start filling up!
Here are the finances...total cost for 36 months:
Base case (as presented by the dealer)....$26860
My financials without Multiple Security Deposits: $25300
With Multiple Security Deposits: $22572
Note: with the MSD case, you have tied up $5400 of your money in the "loan" to infiniti.....but you have saved $2728. I know, you could have had that $5400 in the bank and earned interest..let's say 4% (good luck today)....you would earn about $674 on that money in the bank.....but you saved $2728 on your lease. I know, you could invest that $5400, but you would have to earn almost 14% to equal the savings that Infiniti is offering you.
The only negotiating you are doing here is setting the purchase price of the car at $500 over invoice before the loyalty money. You don't have to negotiate any of the other numbers....just tell them no money down...9 multiple security deposits and send them off to calculate.
Good luck
Let us know how it goes.
You'll need to populate it with current MF/Residual/Term data of course, the area on the right is just my scratch pad for those details..
http://www.e-gerbil.net/infiniti-lease.xls
Why did you put $1000 in the capitalized cost reduction...or is that the way you handled the loyalty discount? I would add a line for rebates/loyalty discounts/marketing money, just for clarity.
Wow, you are one strong player. Invoice. Whoohoo. Man you go for the jugular. You leave dealer holdback and dealer retro incentives on the table. You go, ghstudio. Wow. you are too strong for me. Invoice and loyalty money. Whoop de doo. And then you think you are super strong negotiator with the MSD stuff. Whoa big daddy. Please.
Many post giving examples of what they were able to negotiate ...and I've tried to educate on the financial advantage of using MSD'S, if you can afford to do so.
Just for the record, MSD's aren't negotiated at all....they are just part of the Infiniti leasing program, you can elect to use that feature or not, and they have absolutely nothing to do with the deal you negotiate with your dealer other than changing the Money Factor that he plugs into the computer.
It would be great if you could help us all negotiate a better deal.....but I don't see any constructive suggestions in your post....
Perhaps you meant to write, "Remember, humble226 and ghstudio - you can sometimes negotiate below invoice due to dealer holdback and retroactive incentives from the manufacturer" as an educated, well-mannered adult would have responded.
If your post #1586 from 2008 is indicative of your negotiating skills, I'm not that impressed if we're trying to be competitive here.
But we're not competing here - we're all here trying to help each other out, not belittle those who provide valuable information and helpful tools like ghstudio's spreadsheet.
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By the way, the tech package on mercedes falls short of the infiniti. The lane assist on MBs is terrible. Voice command just plain disfunctional with too many redundancies. For example, to call Joe in an M class, you simply program joe and say Call Joe. You are done. In the Mercedes, you have to say Call name, "what name please", Joe, "is this the correct name", YES!!, ok, call joe. MBZ offers MSD, but not nearly as sweet a deal as infiniti. MBZ has a long way to go to catch the M in tech.
Typically, a good rule of thumb would be to use a capitalized cost of $2200 back of invoice NOT INCLUDING any available customer loyalty money, available incentives or dealer rebates ALSO applicable for the deal.
My best advice for gaining control of a lease negotiation is to first contact Infiniti and ask for a lease extension, maybe 90 days. Then, as your lease is nearing its initial end, contact at least 2 local dealers, and maybe even an out-of-town dealer that is within driving distance. Ask for the Sales Manager. Let him know that your lease is expiring, and you wish to re-lease an Infiniti, but only if the capitalized cost is agreeable. I would make contact with the Sales Manager on the 20th of the month. Typically, the Manager will make you an offer. let him know you are shopping around and will think abaout it. I would then follow up with each Sales Manager on the 27th of the month. Let him know that you are still interested but his initial deal is running in 3rd place out of 3 dealers. Ask him if he would like to get in the race. Typically, the best deal will be offered on the last day of the month if the dealer is "in the money" or is close to hitting it's number. If you have 3 dealers bidding for your services, you should get one dealer to get real down and dirty. If each dealer tells you that you are crazy, send Infiniti a monthly payment to extend your lease for 30 days and touch base with the dealers again the following month to see if they wish to play ball again. By extending your lease at least 90 days, you won't feel the pressure to have to get the deal done the month your lease is expiring. It will give you enough time to make a dealer come to your terms.
Once you feel you have a competitive bid, you will know it's a winning deal when your other 2 dealers all decline to beat the deal.
The best advice I can give everyone is to
1) Make contact with the New Car Sales Manager, and deal with him directly. Do not waste time with a sales person. and
2) Negotiate your deal from your office. Do not negotiate the deal while you are sitting in the car dealership. At the dealership, the dealer has the control, and your emotions get in the way.
Sorry for my earlier mean post.