Hi jaypolostls. This car's lease program varies depending upon how long you lease it for and how many miles per year you need to be able to drive it. For now, I will provide you with info on its 36 month, 15,000 mile per year lease program (this seems to be the most common term and mileage allowance combination). Let me know if you want data info for a different set of terms. If you were to lease a 2006 Infiniti M35 Sport through Infiniti Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00096 and 53%, respectively.
Hi brucebruce. I'm sorry to hear about all of the problems that you had with your BMW. It is difficult for me to say what the lease payment for the M45 that you are interested in should be off of the top of my head. I need to get some additional information from you before I can give you an estimated lease payment for the car that you want. This info includes its full MSRP, its selling price, how long you want to lease it for, and how many miles per year you need to be able to drive it. You can find the MSRP of this car by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. And you can get an idea of how much you should pay for it right now by visiting the following discussion: "Infiniti M35/M45: Prices Paid & Buying Experience". The length of your lease and its mileage allowance are essentially a matter of personal preference. Anyhow, let me know and I'll work up a sample lease payment for you.
You are absolutely right, lopz. It is much better to look at vehicles' lease money factors / residual values and selling prices than just at their lease payments. If you need any information on the M35 or M45's current lease program, let me know.
Here you go, ngkiyan. If you were to lease a base 2006 Infiniti M35 through Infiniti Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00096 and 53%, respectively.
Thanks for the response. I'm actually interested in the money factor and residual for a 24 month lease, because apparently that's their best program. I'm interested in an m35 sport with journey. Are the mf and residual #'s for june out yet, or are we going to have to wait until we're into the month? also, i had posted in the 'prices paid' section of the forum if anyone has ever had any luck using consumer reports 'bottom line pricing' report?. They list a manufacturers hold-back of 1200 $'s or so. i've used this toward my negotiations and some dealers won't even bother talking to me after I mention it.
Car_man Thanks for the reply I only have 2days buying my M45 sport for this month,May The option I want is Journey/Tech/XM or sirius/Aero Dynamic Body Kit
with Aero Dynamic Body Kit MSRP $57,970 INVOICE $52,789 SELLING PRICE $53,340 (invoice+$551.47) 24month MF 000600 15000mile DO $1227.37 and $764.84(after Ca Tax/23month
this is one of my dealer has offered me with VPP # I have. It starts with C.(A friend of mine works for infiniti design team) but other dealer says VPP# start with C. is a little over $300.00 + Invoice but the dealer who has offered me invoice+$551.47 are the only dealer has the car what I want. Is this a good deal??? Also I have re-calculated the same deal of DO $1227.37 and $764.84(after Ca Tax )/23month Change the DO amount to $3000.00 because I want to make the monthly payment as low as possible. I'm not sure but I think it is around $687.00 with $3000.00 DO Is this correct?????
According to the forum someone who bought the car in Ca. had a April end of month deal of 12000mile/ Zero DO and $750.00(after Ca Tax )/23 month for the same optioned car. So I re-calculate that 15000mile will be around $775.00(after Ca Tax )/23 with Zero DO I think this is a really good deal. And I want something like this As I told you earlier I want to make the same monthly payment of my BMW 530i around $645.00(after Ca Tax) per month But the dealer said $775.00(after Ca Tax )/23 with Zero DO that can not be possible that is minus deal. But the funny thing is that other dealer has offered me the same car 15000mile DO $3000.00 $646.00(after Ca Tax )/23month So this is it This is what I’m looking for and I want to take it but they said they have located the car and they have to trade But the dealer they have to trade from is the dealer who has offered me $551.47 over invoice Also they do not want to give it to them. Oh! My God!!!! And also they have found the car without Aero dynamic Body Kit '06 M45 Sport Journey/Tech/XM or sirius/ Diamond Graphite/Stone Leather/Aluminum Full Size Spare/Trunk mat MSRP $56,880 INVOICE $51,942 SELLING PRICE $52,467 (invoice+$525) 24month MF 000600
$618,00(after Ca Tax) (DO $3000.00) But the next day sales rep said this car no longer available. I’m not sure who shoud I trust. I have only TWO days. Should I wait for June????? I do not mine waiting If I can get a good Lease deal for 24 month or 36 month in June
Can you tell me the Lease payment of '06 M45 Sport Journey/Tech/XM or sirius/ Aero Body Kit 24 Month/15000Mile MSRP $57,970 INVOICE $52,789 SELLING PRICE $52,789(Invoice) 24month MF 000600 DO $3000.00 How much the monthly will be before the Tax?????
And '06 M45 Sport Journey/Tech/XM or sirius/ Full Size Spare/Trunk mat 24 Month/15000Mile MSRP $56,880 INVOICE $51,942 SELLING PRICE $51,942(Invoice) 24month MF 000600 DO $3000.00 How much the monthly will be before the Tax?????
Hey Charlie. The following informative article provides a detailed description of how to calculate vehicles' lease payments: Calculate Your Own Lease Payment. It should have any questions that you have on the subject. If not, let me know and I'd be happy to explain anything that you still have questions about in greater detail.
Here you go, ghstudio. As other community members have been saying, the 24 month term for this model is very attractive right now. If you were to lease a base 2006 Infiniti M35 through Infiniti Financial Services right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00035 and 66%, respectively. The numbers for an otherwise identical 36 month lease should be .00096 and 55%. It is difficult to say whether Infiniti will publish a lease program for the '07 version of this car in June. Please feel free to check back with me at the end of the week and I will be happy to let you know if it does.
No problem, jaypolostls. You are right, now that I take a close look at it Infiniti's 24 month program for the M35 is very attractive this month. If you were to lease an '06 M35 through IFS before the end of the month for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00035 and 66%, respectively. Infiniti will not publish what its June lease program is like until June 1st. Please feel free to check back with me towards the end of the week and I will be happy to give you an idea of what the new June numbers are like.
As far as holdback goes, while it is a good thing to know that it exists, mentioning it during negotiations is not really a good idea. Most dealers usually only become angry when consumers bring it up and it serves to break down negotiations.
You're welcome brucebruce. $500 over invoice is a reasonable price for this car. Of course, $300 over is better but for a measly $200 you should go with the dealer that has the exact car that you want. It is difficult to say what Infiniti's June lease program will be like for the M45. I don't expect it to be very different than its current program, but like I said we won't know for certain until the new program is officially released on June 1st.
Brucebruce, according to my calculations, if you were to lease a 2006 Infiniti M45 Sport with an MSRP of $57,970 and a selling price of $52,789 through Infiniti Financial Services right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $660. With a $1,000 cap cost reduction (which I advise against making) this payment would drop to around $618, with $2,000 down it would drop to around $576, and with $3,000 down it would drop to around $534.
For the second car that you mentioned, I come up with 24 mo. / 15k payments of $654 with zero down, $612 with $1,000 down, $570 with $2,000 down, and $527 with $3,000 down.
Carman...what is Infinity's adjustment to the MF for additional security deposits. I plan to give them up to 10 deposits extra (did that on my BMW and saved a bunch)...if it makes sense on a 2 year lease.
MSRP of $57,970 and a selling price of $52,789 through Infiniti Financial Services right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $660. With a $1,000 cap cost reduction (which I advise against making) this payment would drop to around $618
Car_Man Is this means that If I do cap cost reduction of $1000.00 +First month of $618.00(after Ca Tax 8.25% will be $668.00)) +License fee of around $420.00 +sales tax Cap Cost Reduction of $82.50 So Total Drive Off will be around $2170.00
Drive Off $2170.00 + $668.00/23 month payment
Am I have the right ### What you try to tell me?????
MSRP of $57,970 and a selling price of $52,789 through Infiniti Financial Services right now for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $660. With a $1,000 cap cost reduction (which I advise against making) this payment would drop to around $618
Car_Man Is this means that If I do cap cost reduction of $1000.00 +First month of $618.00(after Ca Tax 8.25% will be $668.00)) +License fee of around $420.00 +sales tax Cap Cost Reduction of $82.50 So Total Drive Off will be around $2170.00
Drive Off $2170.00 + $668.00/23 month payment
Am I have the right ### What you try to tell me?????
Not sure why you are doing the $3000 down. The true monthly cost of this lease is $560 + $3000/36 = $643.
This seems high to me......
Using Infinity's May rates (.00096/55%0, an M35 with journey and nav should cost roughly $545 plus tax. I don't have the exact nos for tech package in front of me, but I'm going to estimate that it should cost about $585/mo ... and that's with 15K miles and no money down other than a $550 bank fee.
Car_Man - Can you provide the June incentive, money factor, and residual rates for M35? I'm specifically interested in 36mo / 15K leases. Also, do you know when the '07 M35s will be available?
Is there a place online where we can access published manufacturer residual/mf rates?
Car_Man - Can you provide the June incentive, money factor, and residual rates for M35? I'm specifically interested in 24 & 36mo / 15K leases. Also, do you know when the '07 M35s will be available?
So, you are an attorney, who uses the word "fraud" You have spent your life, spinning, manipulating, and presenting the facts to your advantage. You letter would, and does embarrass me. Let me see if I can get this straight. You want a great car, with a great warranty. You want it sold to you by a well dressed, articulate, extremely knowledgeable salesperson, who can answer any question you throw at them, figure out the exact deal you want, deliver it sparkling clean, no dings or blemishes, at the time, and place of you choice, you want loaner cars if your car breaks, you want it cleaned everytime you come in, and all that for a whopping $500 UNDER invoice. Let's break it down- there is approx. $750.00 holdback. That would leave all of $250.00 profit. If the salesperson gets 20% commission, that would leave $50.00 for the perfect salesperson you are looking for, and $200.00 for the perfect dealership you are looking for. What a sport you are. If that salesperson sold 50 cars a month to people like you [50 is next to impossible] they would make a whopping $2500.00 per month. WOW!!! you are so generous. What do YOU do for $2500.00 per month??? Do you work 70 hours for 2500.00? Do you put up with people like you for 2500.00? Are you successful because you are the cheapest attorney? You should be ashamed of yourself! An attorney calling someone else fraudulent HAH!!! Wake up, and learn how to be fair.
I am in the final stages of negotiating a lease for a M35x and would like to confirm that the money factor and residual values being used by my dealer are accurate.
I am being quoted a MF of 0.00145 and a residual of 54% for a 39 month term. They haven't given me numbers for any other term because they claim that 39 months is the best deal right now.
Also, I have heard that by making multiple security deposits, one can lower the MF. Is this true with IFS? How much of a deposit is required and what does the MF decrease by?
Multiple security deposits definately will reduce your monthly payments...but your dealer will probably say it's not significant. It is significant...make the dealer run the numbers. For some reason, dealers are clueless about how this helps.
If last months numbers are indicative, then the best lease is 24 months, not 39 months. Again, make the dealer run the numbers....don't just take their word for it.
I don't know why some dealer finance guys are so inept, but they seem to have no idea how to tune the numbers unless you want to put money down in front. Make them do the work and you'll actually save some money.
Deal complicated by my still having 3 remaining payments (of $567) on 2004 BMW lease and have used up my allotted miles, so I'd pay about $200/month for each of 3 remaining months of driving.
Infiniti dealer would make the remaining three payments and pay whatever else is involved in his dealership bringing the BMW back to BMW (the leasing company) -- if I do this. So, there is nothing else being taken off the MSRP.
MSRP -- $48, 520 I would put down $3,000 which includes all closing fees and first month's payment. Acquisition fee -- $550 Residual -- 66% = $32,000 Money factor = .00042 Sales use Tax where I live = 7.75% Monthly payment = $675 ($725 with tax)
Carman or other lease-savvy listener: anything I should be asking or be aware of here. Problems?
ghstudio...thanks for bringing this to our attention. I want to understand it better. I'm looking at an M35 with MSRP of $48,520. 66% residual = $32,023.20
If I just pay $700 security deposit, $550 acquisition fee, and first month's payment ... but nothing else down ... then I calculate (following Edmunds worksheet) monthly payments of $720.83 (based on .00042 money factor being offered), without tax. If I put $1,000 extra down, the monthly payments are $679.11, so, as you say, I pay $41.72 less each month, but that's really just $41.72 of my down payment being subtracted, if you will, from each month's payment. So, I'm making myself feel better by having a lower monthly payment, but it's an illusion. My own money is being doled out back to me each month.
If, on the other hand, I told the sales manager that, instead of giving him the $1000 extra down, which Car_man always advises against anyway, do you have any speculation as to what the .00042 MF might be reduced to?
The June rate for M35 base is MF .00082 and the residual is .67 for 12k or .66 for 15K miles/yr.
We just ran the numbers for my M35 an hour ago.
24months 12K $583.58/mo plus tax 15K $602.42/mo plus tax
I will give the dealer a check for $820 when I pick up the car which is the first months payment plus license fees. No security deposit at all.
Now, the interesting part, we ran the case where I give Infinity 5 security deposits or $3500. The dealers sales manager/finance guy said...it is not worth even running, you won't save anything because the base rate is so low. I said...let's run it, just for fun
24 month 15K miles/yr $565.46/mo plus tax
At the end of the lease, I get that $3500 back (unless, of course I damage the car...it is a security deposit, not a down payment. This is VERY important).
I give (loan) them $3500 and I lower my payments by $602-$565 = $37 a month. Over the 2 years, I will save $37 x $24 = $888. Remember, if I didn't give (loan) them the $3500, I would pay $888 more for the use of the car. So, I loan them $3500 and they save me $888...which is $888/$3500 = 25%. Let me explain that: I could put that $3500 in a bank for the two years...and I would earn roughly 5% on the money...or loosely, 10% over the two years...so I would get about $350 in taxable interest from the bank. I would rather deposit (loan) that $3500 to Infinity where I save $888 over the two years. Said one more way, If I put the money in a bank, I pay infinity $888 more but only get $350 of it back (less taxes) over the two years as interest on the money.
This all assumes that you have $3500 to "invest" somewhere...but if you do, using multiple security deposits to reduce your monthly car payment pays you about 12.5% on your money....which is an EXCELLENT deal. I'd give them more security deposits if they would let me.
I would like to know where the .00042 MF came from....that is not infinity's rate this month ????
Question is = if I buy the car at the end of lease for 31751 (residual), won't my total cost for the car be 31751 + 10,000 deposit + ($542*36 = 19500) = $61250 ? what happened to my negotiated price of 56800$
Thanks for taking the time to lay it out in that detail.
About the .00042 ... it's what's on the offer sheet and when I use in the Edmunds worksheet, all the numbers match what the sales manager's worksheet has. As I recall, he just described it as best Infiniti would "let him offer." Hope he doesn't try to take it back.
you paid interest on the money you "borrowed" for the lease. If you had a zero percent lease with no fees, the price you paid would be the negotiated price.
I am looking to lease a M35 or possibly an M35x if I can afford it. My dealer quoted me a 36 month/ 15,000 mile lease with 0 down for $660 per month on a base M35 with journey package. It seems high to me. What's the best way to get or figure out a fair deal. I know what the residual value is, but I'm confused on what MF stands for. Is a 36 month option better than 24 month?
chucky2....read my post just above. My M35 has journey/nav/splash guards is costing me less per month than you are being quoted and navigation is not a cheap option (but I highly recommend it on this high tech car).
MF is another way to state the interest rate. There is a calculator somewhere on edmunds that allows you to plug in the numbers.
A fair deal is one where you negotiate how much you are willing to actually pay for the car if you were buying for cash, and then plug in that price and the infinity money factor(mf) and residual percent into the Edmunds leasing tool to figure out the monthly lease numbers. Sounds like they assumed (hoped) that you were going to pay MSRP and they may have tacked on a little extra profit by enhancing the MF in their favor and of course that administrative processing charge and maybe some special wax and pinstriping :confuse: :confuse:
Hey Car_man, Thanks for all the great info. I find the postings about extra security deposits very interesting, they make sense from a risk perspective that it would lower the payment. I am wondering how pre paying all the payments would affect the lease price. I can only expect it would lower the interest significantly. I know Lexus is advertising one pay leases. Your thoughts and examples if you have any? Thanks.
I need june's money factor and residuals for an 06 m35 sport. I'm going tomorrow morning to start negotiating on my deal. I really need these #'s to check that they're consistent w/what the dealer would offer me.
Car_man may be able to post the table of numbers. Dealer's generally don't play with the residual percents so I would just ask your dealer what residual % they are using. Both MF and residuals differ depending on the model of M35/M45 you are buying...base, awd, sport The MF is the same on 12K or 15K miles per year, the difference is that the residual value of the 15K lease is 1% less than a 12K lease. If the residual on 12K lease is 65% of the original MSRP, then the residual on a 15K lease is 64%. This is not universally true, but it does seem to be infinity's adjustment. (I think Lexus actually drops 2%). Residuals are always based on MSRP, not the price you bargain for.
I was offered (and took) a money factor deal with Infiniti Financial of money factor = .00042 and residual = 67% on 24 month, 15 K/yr lease of M35 (Obsidian Black paint with Bourbon/Rosewood interior; Journey and Tech). The discussion opportunities here were very helpful in my working through car-choice-conflict and negotiating deal. Thanks.
My dealer in Louisville, KY is telling me the MF on a 36 month lease is .00122. Any idea why this is so much higher than the .00042 or .00084 I've been hearing about? Can I negotiate this rate with them?
sorry, I don't know this month's mf's for anything but the 24 mo base m35. The 36 month rate is higher and the residual value is lower than the 24 month. There is also a difference in the MF and residuals on m35 base, awd, sport, m45, m45 sport.
In answer to your question, I would ask the dealer to show you the mf and residuals from Infinity. He should be able to show you on paper or pull it up on a screen. You can check to see if he's showing you the right numbers by checking the 24mo mf on the base m35 which seems to be .00042.
I bet you will find that the 24 month lease costs you less per month than the 36 month....check it out.
Nissan has a program call Pull Through that fully forgives remaining lease payments if you purchase another Nissan. Can anyone confirm whether the same program can be used if a buyer upgrades to Infiniti?
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Are the mf and residual #'s for june out yet, or are we going to have to wait until we're into the month?
also, i had posted in the 'prices paid' section of the forum if anyone has ever had any luck using consumer reports 'bottom line pricing' report?. They list a manufacturers hold-back of 1200 $'s or so. i've used this toward my negotiations and some dealers won't even bother talking to me after I mention it.
Thanks for the reply
I only have 2days buying my M45 sport for this month,May
The option I want is Journey/Tech/XM or sirius/Aero Dynamic Body Kit
with Aero Dynamic Body Kit
MSRP $57,970
INVOICE $52,789
SELLING PRICE $53,340 (invoice+$551.47)
24month MF 000600
15000mile
DO $1227.37 and $764.84(after Ca Tax/23month
this is one of my dealer has offered me with VPP # I have. It starts with C.(A friend of mine works for infiniti design team)
but other dealer says VPP# start with C. is a little over $300.00 + Invoice
but the dealer who has offered me invoice+$551.47 are the only dealer has the car what I want.
Is this a good deal???
Also I have re-calculated the same deal of
DO $1227.37 and $764.84(after Ca Tax )/23month
Change the DO amount to $3000.00 because I want to make the monthly payment as low as possible.
I'm not sure but I think it is around $687.00 with $3000.00 DO
Is this correct?????
According to the forum someone who bought the car in Ca. had a April end of month deal of 12000mile/ Zero DO and $750.00(after Ca Tax )/23 month for the same optioned car.
So I re-calculate that 15000mile will be around $775.00(after Ca Tax )/23 with Zero DO
I think this is a really good deal.
And I want something like this
As I told you earlier I want to make the same monthly payment of my BMW 530i around $645.00(after Ca Tax) per month
But the dealer said $775.00(after Ca Tax )/23 with Zero DO that can not be possible that is minus deal.
But the funny thing is that other dealer has offered me the same car 15000mile DO $3000.00 $646.00(after Ca Tax )/23month
So this is it
This is what I’m looking for
and I want to take it but they said they have located the car and they have to trade
But the dealer they have to trade from is the dealer who has offered me $551.47 over invoice
Also they do not want to give it to them.
Oh! My God!!!!
And also they have found the car without Aero dynamic Body Kit
'06 M45 Sport
Journey/Tech/XM or sirius/
Diamond Graphite/Stone Leather/Aluminum
Full Size Spare/Trunk mat
MSRP $56,880
INVOICE $51,942
SELLING PRICE $52,467 (invoice+$525)
24month MF 000600
$618,00(after Ca Tax) (DO $3000.00)
But the next day sales rep said this car no longer available.
I’m not sure who shoud I trust.
I have only TWO days.
Should I wait for June?????
I do not mine waiting If I can get a good Lease deal for 24 month or 36 month in June
'06 M45 Sport
Journey/Tech/XM or sirius/
Aero Body Kit
24 Month/15000Mile
MSRP $57,970
INVOICE $52,789
SELLING PRICE $52,789(Invoice)
24month MF 000600
DO $3000.00
How much the monthly will be before the Tax?????
And
'06 M45 Sport
Journey/Tech/XM or sirius/
Full Size Spare/Trunk mat
24 Month/15000Mile
MSRP $56,880
INVOICE $51,942
SELLING PRICE $51,942(Invoice)
24month MF 000600
DO $3000.00
How much the monthly will be before the Tax?????
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As far as holdback goes, while it is a good thing to know that it exists, mentioning it during negotiations is not really a good idea. Most dealers usually only become angry when consumers bring it up and it serves to break down negotiations.
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For the second car that you mentioned, I come up with 24 mo. / 15k payments of $654 with zero down, $612 with $1,000 down, $570 with $2,000 down, and $527 with $3,000 down.
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Is this means that If I do cap cost reduction of $1000.00 +First month of $618.00(after Ca Tax 8.25% will be $668.00)) +License fee of around $420.00 +sales tax Cap Cost Reduction of $82.50
So
Total Drive Off will be around
$2170.00
Drive Off $2170.00 + $668.00/23 month payment
Am I have the right ### What you try to tell me?????
Car_Man
Is this means that If I do cap cost reduction of $1000.00 +First month of $618.00(after Ca Tax 8.25% will be $668.00)) +License fee of around $420.00 +sales tax Cap Cost Reduction of $82.50
So
Total Drive Off will be around
$2170.00
Drive Off $2170.00 + $668.00/23 month payment
Am I have the right ### What you try to tell me?????
With Journey and Tech w/ XM
$3000 down
36 month lease/ 15k mi
$560/month
End of the month.... Not a lot of time to decide!
Thanks in advance!
This seems high to me......
Using Infinity's May rates (.00096/55%0, an M35 with journey and nav should cost roughly $545 plus tax. I don't have the exact nos for tech package in front of me, but I'm going to estimate that it should cost about $585/mo ... and that's with 15K miles and no money down other than a $550 bank fee.
Is there a place online where we can access published manufacturer residual/mf rates?
From: brucebruce
Thanks to All!!!
Finally I got the MMMMMMMMMMMM
End of month deal
'06 M45 Sport
Journey/Tech/XM
Full Size Spare/Trunk mat
Real Deck Spoiler
24 Month/15000Mile
MSRP $57280.00
INVOICE $52257.00
SELLING $51978.00(Invoice-$279.00)
24month MF 000600
Total D.O. $3000.00
$640.00(CA 8.25% included) /23month
You want a great car, with a great warranty. You want it sold to you by a well dressed, articulate, extremely knowledgeable salesperson, who can answer any question you throw at them, figure out the exact deal you want, deliver it sparkling clean, no dings or blemishes, at the time, and place of you choice, you want loaner cars if your car breaks, you want it cleaned everytime you come in, and all that for a whopping $500 UNDER invoice.
Let's break it down- there is approx. $750.00 holdback. That would leave all of $250.00 profit. If the salesperson gets 20% commission, that would leave $50.00 for the perfect salesperson you are looking for, and $200.00 for the perfect dealership you are looking for. What a sport you are. If that salesperson sold 50 cars a month to people like you [50 is next to impossible] they would make a whopping $2500.00 per month. WOW!!! you are so generous. What do YOU do for $2500.00 per month??? Do you work 70 hours for 2500.00? Do you put up with people like you for 2500.00?
Are you successful because you are the cheapest attorney?
You should be ashamed of yourself! An attorney calling someone else fraudulent HAH!!!
Wake up, and learn how to be fair.
I am being quoted a MF of 0.00145 and a residual of 54% for a 39 month term. They haven't given me numbers for any other term because they claim that 39 months is the best deal right now.
Also, I have heard that by making multiple security deposits, one can lower the MF. Is this true with IFS? How much of a deposit is required and what does the MF decrease by?
Thanks,
Alto
If last months numbers are indicative, then the best lease is 24 months, not 39 months. Again, make the dealer run the numbers....don't just take their word for it.
I don't know why some dealer finance guys are so inept, but they seem to have no idea how to tune the numbers unless you want to put money down in front. Make them do the work and you'll actually save some money.
Journey and Tech
24 months
15K/yr
Deal complicated by my still having 3 remaining payments (of $567) on 2004 BMW lease and have used up my allotted miles, so I'd pay about $200/month for each of 3 remaining months of driving.
Infiniti dealer would make the remaining three payments and pay whatever else is involved in his dealership bringing the BMW back to BMW (the leasing company) -- if I do this. So, there is nothing else being taken off the MSRP.
MSRP -- $48, 520
I would put down $3,000 which includes all closing fees and first month's payment.
Acquisition fee -- $550
Residual -- 66% = $32,000
Money factor = .00042
Sales use Tax where I live = 7.75%
Monthly payment = $675 ($725 with tax)
Carman or other lease-savvy listener: anything I should be asking or be aware of here. Problems?
If I just pay $700 security deposit, $550 acquisition fee, and first month's payment ... but nothing else down ... then I calculate (following Edmunds worksheet) monthly payments of $720.83 (based on .00042 money factor being offered), without tax. If I put $1,000 extra down, the monthly payments are $679.11, so, as you say, I pay $41.72 less each month, but that's really just $41.72 of my down payment being subtracted, if you will, from each month's payment. So, I'm making myself feel better by having a lower monthly payment, but it's an illusion. My own money is being doled out back to me each month.
If, on the other hand, I told the sales manager that, instead of giving him the $1000 extra down, which Car_man always advises against anyway, do you have any speculation as to what the .00042 MF might be reduced to?
Charlie
We just ran the numbers for my M35 an hour ago.
24months 12K $583.58/mo plus tax
15K $602.42/mo plus tax
I will give the dealer a check for $820 when I pick up the car which is the first months payment plus license fees. No security deposit at all.
Now, the interesting part, we ran the case where I give Infinity 5 security deposits or $3500. The dealers sales manager/finance guy said...it is not worth even running, you won't save anything because the base rate is so low. I said...let's run it, just for fun
24 month 15K miles/yr $565.46/mo plus tax
At the end of the lease, I get that $3500 back (unless, of course I damage the car...it is a security deposit, not a down payment. This is VERY important).
I give (loan) them $3500 and I lower my payments by $602-$565 = $37 a month. Over the 2 years, I will save $37 x $24 = $888. Remember, if I didn't give (loan) them the $3500, I would pay $888 more for the use of the car. So, I loan them $3500 and they save me $888...which is $888/$3500 = 25%. Let me explain that: I could put that $3500 in a bank for the two years...and I would earn roughly 5% on the money...or loosely, 10% over the two years...so I would get about $350 in taxable interest from the bank. I would rather deposit (loan) that $3500 to Infinity where I save $888 over the two years. Said one more way, If I put the money in a bank, I pay infinity $888 more but only get $350 of it back (less taxes) over the two years as interest on the money.
This all assumes that you have $3500 to "invest" somewhere...but if you do, using multiple security deposits to reduce your monthly car payment pays you about 12.5% on your money....which is an EXCELLENT deal. I'd give them more security deposits if they would let me.
I would like to know where the .00042 MF came from....that is not infinity's rate this month ????
m45 negotiated price = 56800,
55% residual = 31751
deposit = 10K
payment = 36 months $542 /month (excluding 9% tax)
MF = .0011
Question is = if I buy the car at the end of lease for 31751 (residual), won't my total cost for the car be
31751 + 10,000 deposit + ($542*36 = 19500) = $61250 ?
what happened to my negotiated price of 56800$
About the .00042 ... it's what's on the offer sheet and when I use in the Edmunds worksheet, all the numbers match what the sales manager's worksheet has. As I recall, he just described it as best Infiniti would "let him offer." Hope he doesn't try to take it back.
Any information would be greatly appreciated.
MF is another way to state the interest rate. There is a calculator somewhere on edmunds that allows you to plug in the numbers.
A fair deal is one where you negotiate how much you are willing to actually pay for the car if you were buying for cash, and then plug in that price and the infinity money factor(mf) and residual percent into the Edmunds leasing tool to figure out the monthly lease numbers. Sounds like they assumed (hoped) that you were going to pay MSRP and they may have tacked on a little extra profit by enhancing the MF in their favor and of course that administrative processing charge and maybe some special wax and pinstriping :confuse: :confuse:
Cap Cost (negotiated price with all options) = $46,850
Acquisition Fee = $550
Security Deposit = $700
Registration Fees = $378
Dealer Document Preparation fee = $45
MF = .00042
Residual = 66%
In answer to your question, I would ask the dealer to show you the mf and residuals from Infinity. He should be able to show you on paper or pull it up on a screen. You can check to see if he's showing you the right numbers by checking the 24mo mf on the base m35 which seems to be .00042.
I bet you will find that the 24 month lease costs you less per month than the 36 month....check it out.