Infiniti M37 M56 Lease Questions

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  • gkazgkaz Member Posts: 18
    I've been speaking with a few dealers about leasing the 35x. I know from prior posts the RV and base rate MF for a 36 mos is 55% and .00201.

    I've been quoted 56% and .00275 by one dealer (apx $1600 difference over 3 yrs vs. base rate) and 55% and .00251 by another dealer (apx $1400 difference over 3 yrs vs. base rate) . Clearly both are bumping/marking up the MF (I should be Tier 1).

    Also the 2nd dealer offered a 39 month lease @ 54% and .00175 (a material monthly savings - about 50/month vs. base rate but a longer term)

    I have a few questions:

    1) is it realistic to expect dealerships to hit the .00201 base rate for 36 months - i.e., should i negotiate them harder?

    2) why wouldn't I take the 39 month lease? (my one concern re: 39 month lease is that it will end in April of 2010 - April is an aweful time to negotiate new car purchases).

    3) is there a way to get out of lease early (say at 36 months) without penalty? I think I remember hearing something about an "early out" or "pull ahead" clause as long as I buy another Infiniti.

    Bottom line - why do dealers offer the 39 month lease over a 36 month lease - what's their interest/advantage?

    Thanks!
  • pmichaelmdpmichaelmd Member Posts: 8
    Car_man,
    General lease question. I have leased twice before and both times got out of the lease without incident. They were both Acuras (RSX, TSX) and I think I did 66 month leases on each. The RSX lasted 14 months and the TSX 11 months. I just traded them in and bought a new car each time. They were both over "allowed" mileage for the age of the car, but the dealers I went to simply bought the car using the 10-day payoff from the leasing bank and I bought a new car. I didn't have to pay any early termination fees or anything. Dealers have told me the same thing each time I leased...NEVER return your lease, just trade it in and there isn't a problem. Is this correct, or is this specific to particular banks/brands? I traded both leases way early just as if I'd owned them, without problem.

    Thanks,
    PMMD
  • irvsteroniirvsteroni Member Posts: 56
    The M35, with Journey package I'm looking at, according to Edmunds here has an invoice of $40,495 or so. The dealer is selling it for $37,500.00 reduced from the MSRP of $43k or thereabouts, so that is I think $3k or so below invoice...Thanks.
  • djdezdjdez Member Posts: 119
    See, now I am in the same boat too as my lease expires next month on my '06 M35x. I've been back and forth with dealers all week trying to get me to close on an EX35 or G35x. There's no way I'm paying close to $600/month on a new M when I'm only paying $525 now and can get a loaded G or EX for around $470/month ...

    Now, about that $2000 loyalty. I STILL can't seem to get a straight answer. You are saying to apply it as a cap cost reduction up front, however every dealer has told me you CANNOT use it on a lease, only a purchase. Also, it's only available on the M, EX or QX56 ... I tried to apply to the M and after knowing I couldn't use it, I gave up on the M. Yet, I see people saying they are getting EX35's for $3500 below invoice. That would be taking into account the $2000 loyalty and the $1500 dealer cash. On a lease, the LOWEST I could get a dealer to go was $1750 below invoice - they said I could not 'stack' the $2000 loyalty with it - just like I've been hearing on the M too.

    So .... DOES anyone know the TRUE answer about the $2000 loyalty? Can it be used on a lease, or not?!? And, if so - how? Could you actually get a selling price of $2000 BELOW invoice by using it - on a lease?

    Thanks!
  • inf2390inf2390 Member Posts: 1
    Car Man,

    Can you post the money factors/residuals for the m35 rwd and m35 awd, for 21, 24 month and 36 month terms (12k/year)
    thanks
  • poorprofpoorprof Member Posts: 124
    Leases work for people who drive 15k or less a year and like a new car every 2 to 4 years. If you can write off part of the lease, so much the better. You also dont tie up your capital.

    If you drive more than 15k a year, have lots of cash (can actually afford the car you drive) and have no tax breaks, then buying is the better deal for you.
  • taxcon1taxcon1 Member Posts: 1
    What is current money factor and residual for 2007 M35x (loaded except for advanced technology package) for 39 month lease, 12K miles per year? Thanks for a great service.
  • ghstudioghstudio Member Posts: 972
    Let me take a crack at a few of your question.

    1) There is no reason that you should pay over the Infinity finance rates. If the dealer won't lease you the car at those rates, tell them you will just lease from another dealer perhaps even out of town...then walk out.

    2) There's nothing at all wrong with a 39 month lease...you really have to run the 36 and the 39 month numbers because they usually have different mf's and residuals..and until you run the numbers, you can't tell which is actually going to cost you less. In fact, you should also run 24 months because it may actually cost you less per month. There is no extra benefit to the dealer to leasing for 39 vs 36 months...they may have run the numbers and found that the 39 is a better deal...but don't trust them on that, run your deal thru at 24/36/39 mos.

    3) Most car manufacturers will let you out a month or so early with no penalty if you are buying/leasing a new vehicle from the same company...but this is not in the lease contract so it can (and sometimes does) change at any time. This is one of those areas where the dealer or someone here can tell you one thing and it just isn't true when you get a couple of years into the lease. Only rely on what you read in the contract. I would not plan on getting out of a lease early.
  • allagarooallagaroo Member Posts: 88
    I was just quoted for 39/12 2007 M35X 55% res. and .00175 MF. Seems like there is a sweet spot for the 39 month term. These are 12/06 numbers. Do all Infiniti leases have a bank fee included?

    J
  • ghstudioghstudio Member Posts: 972
    Infinity Finance charges the same bank fee for any length lease. Make sure you run the numbers...don't just look at residuals, etc. to figure out which is the best. Then look at the total cost of the lease per month, not the monthly payment.

    Consider Multiple Security Deposits to lower the MF even more.
  • allagarooallagaroo Member Posts: 88
    Thanks for the advice. I live on Long Island and no dealer be it Infiniti,Lexus,BMW or Audi would allow multiple security deposits to reduce MF. They would let you prepay the cap cost at a significant reduction in the cost of the lease.
  • kyfdxkyfdx Moderator Posts: 269,254
    That is correct... NY state laws preclude MSDs..

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  • gokartergokarter Member Posts: 4
    Had always purchased my cars but thinking of leasing this time around. I am looking at Infiniti M45 with Tech. The salesman at an infiniti dealership is quoting $49.5K, 39 month lease, 0.0012 MF, 55% Residual, $595 Acquisition Fee and $2500 total Initial payment for a monthly lease payment of $660. Based on discussion on this forum, I plan to eliminate or minimize the down payment, and instead do multiple security deposits to bring down the MF.

    My questions are:
    1.) Is the purchase price offered a good one
    2.) Are the lease terms good
    3.) Does anyone on the forum know if sales tax on a car lease in my state of MD is charged on a car's purchase price OR on the monthly lease payment.
    4.) Is multiple security deposits allowed in MD.

    ;)
  • vinceeevinceee Member Posts: 1
    I have been lurking here for a few months every so often and its been a tremendous help for me.
    This is my first lease.

    After some negotatiating here is my offer:
    2007 M35x with advanced tech, splash gard and trunk mat.
    Negotiated for a purchase first at
    MSPR: $47,960 (Invoice $43,958)
    then switched to lease.

    39 month lease 12k miles, $0 down
    55% RV
    1.4% MF
    payment offered is $691 per month with 0 down.

    My questions are:
    Should I negotiate closer to the invoice and is it possible?
    What does the 1.4% equate to?
    is the 1.4% a par offer on the 39 mo,12k m35x with Adv tech?

    Thanks Very much for all your help.
    I would love to pick this car up on or before Tues.
    Last minute help or suggestions more than welcomed!
    Vinceee :)
  • msimeonemsimeone Member Posts: 8
    how do i find out tier credit i have BEFORE going into the dealership?

    i'm assuming they use a FICO score, is this correct? does anyone know what the FICO score is for tier 1 credit for infinity is?

    is tier 1+ different than tier 1?

    What are the other tiers and how do they effect lease rates of the m35?

    Thanks-a-million!!!
  • allagarooallagaroo Member Posts: 88
    Happy New Year!

    Please supply me with 36/12 rates and 48/12 rates on Lexus GS350 AWD and 36/12 and 39/12 rates on Infiniti M35X. It appears that Infiniti has a sweet spot at 39 months and Lexus is the only one with a decent 48 month lease in past months.

    Thanks
  • ghstudioghstudio Member Posts: 972
    Leasing rates change quite a bit monthly. Personally, I have never found a lexus lease that had anything I would remotely call a sweet spot....they have terrible leases with no incentives. Now, a few months ago, the best infinity lease deal was 21 months. I would not be at all surprised to find that right now 39 months is the sweet spot but the only way to know is to have your dealer run all of the leases (21/24/36/39) and then compare the total cost of the lease....not the monthly charge. Also make sure that you consider multiple security deposits on any infiniti lease....I don't think Lexus gives you any break for multiple security deposits. Run all lease numbers with nothing down up front....just first month payment and registration fees....nothing else.

    48 months is a very long auto lease....it exceeds the warranty in most cases, you run a much larger risk of being charged for damages at the end of the lease....I would really be hesitant to do a 48 month lease. If you are going to keep a car four years, purchase it.
  • allagarooallagaroo Member Posts: 88
    I didn't meant to imply that Lexus has a sweet spot but they were the only one of the cars i considered that had the same money factor at 48 months as 36 months. Even though the residual dropped from 54% to 45% the payments dropped app. $50/month. Tne M's rates for Dec. were 56% res. and .00201 for 36 months. The Rates for 39 months were 55% and .00175. In both cases warranties are 48 months so I am not concerned with that. My cars usually look better when I turn them in then when I get them and I've never had to pay damages at lease termination. I never put anything up front. MSP's are not allowed in NY.
    Thanks for suggestions. I appreciate it.
    I ask for lease rates here so I can compare with dealer quotes to see if they are padding.
  • tom_patom_pa Member Posts: 3
    For comparison, I picked up my 2007 M35x on 12/29

    39mons 15K, $0 down, $590/month
    Tech Pack, Sat Radio, Splash Gaurds
    MSRP 48,680
    Sale Price $45,200
    RV 54%
    rolled $595 Bank Fee into lease
    9 Sec Deposits $5,400
    Out the door $6,137 (SDs $5,400 + 1st month $590 + tags $147)
  • jcee2jcee2 Member Posts: 8
    Wow great price. I live in NY. (No 9 SD allowed)what would your price have been without them? I'm looking to purchase in March.
  • tom_patom_pa Member Posts: 3
    Orig from this dealer was $635 w/9 SDs. Never qot price w/o SDs but got them to beat the deal below.

    Other local dealer quoted $665 w/o SDs and $595 w/9 SDs, for same car. But that dealer wanted 6,300 for 9 SDs. I paid 5,400 for 9 SDs.
  • ghstudioghstudio Member Posts: 972
    The dealer who wanted $6300 was correct. Each multiple security deposit is the monthly lease amount with no extra security deposits rounded up to the nearest $50. In your case, your no SD was $665 which should have been rounded to $700....and 9x700=6300.

    Not sure how the other dealer who you dealt with will handle the fact that he collected too little when he turns in the paperwork and money to Infiniti Finance. I would expect a call saying they calculated it wrong....please send them the difference. Your dealer apparently rounded the monthly payment WITH 9 SD's up to $600 which is wrong.
  • jcee2jcee2 Member Posts: 8
    Did you ever get rates for Jan on M35X?
  • dafreak1dafreak1 Member Posts: 61
    Yea, I would appreciate those rates as well. Trying to get something done but I am not sure if Infiniti can beat the lease rates on the BMW 530.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, gkaz.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey gkaz. One should absolutely be able to lease an Infiniti using its buy rate lease money factor right now. Of course, its lease program for the month of January is different than its December program was. Let me know if you want the updated numbers.

    As far as what length lease you should choose goes, I personally usually lean towards 39 month leases over 36 month leases. All things being equal, namely your vehicle's money factor, a 39 month lease will usually have a slightly lower monthly payment than a 36 month lease would because it provides you with another three months to spread your vehicle's large initial depreciation hit out over. If a manufacturer has a more attractive money factor on the 39 month term, like Infiniti does right now, it's just the icing on the cake.

    A number of manufacturers offer early lease termination programs from time to time that let current lessees out of their deals a couple of months early. It is difficult to say whether Infiniti will offer such a program on the M35 three years from now. I haven't seen it offer this sort of promotion in a while, so I wouldn't count on it.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi pmichaelmd. If you were able to get out of 66 month leases after only a year then you very very lucky. It is usually fairly expensive to get out of a lease that long before its scheduled end date. One really should not bank on being able to get out of a lease before it is scheduled to end.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi irvsteroni. I assume that you are talking about a 2006 model. Infiniti is currently providing $2,500 dealer cash on the '06 M35 to help dealers unload their leftover models. Even after taking this dealer cash into account $3,000 below invoice is an excellent price on this car.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi inf2390. Infiniti Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2007 Infiniti M35 2WD with 12,000 miles per year are .00082 and 67%, respectively. The numbers for an otherwise identical 36 month lease of this car are .00143 and 56%. IFS' current 24 month, 12,000 mile per year buy rate lease money factor and residual value for the 2007 M35 AWD are .00059 and 66%. The numbers for an otherwise identical 36 month lease of this car are .00135 and 55%. I do not believe that IFS is offering 21 month leases on these cars any longer.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you're looking for, taxcon1. Infiniti Financial Services' current buy rate lease money factor and residual value for a 39 month lease of a 2007 Infiniti M35X with 12,000 miles per year are .00131 and 54%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Allagaroo, Infiniti Financial Services charges a $595 acquisition fee on every vehicle that is leases. Consumers can either pay this fee at lease signing or have it added into their vehicle's capitalized costs.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gokarter. The MSRP of a 2007 Infiniti M45 with only the Technology Package is $52,750. This car has a dealer invoice of $48,351. If your car has no other options besides the Tech package then you are at around $1,150 over invoice. That sounds like a reasonable price to me, but you definitely should stop by the following discussion to see how much other community members have paid for similar cars lately: "Infiniti M35/M45: Prices Paid & Buying Experience".

    The money factor that you were quoted for this car looks about right to me. Infiniti Financial Services' new January buy rate lease money factor for a 39 month lease of a 2007 M35 is .00103.

    I am no personally familiar with how sales tax is calculated on leased vehicles in Maryland, but you may be able to find out by visiting one of the following sites: Maryland Motor Vehicle Administration or Comptroller of Maryland.

    You should be allowed to make multiple security deposits on a vehicle that you lease in Maryland.

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  • bcmullbcmull Member Posts: 7
    Is there a web site that tracks current and historical MF? Quick google search did not come up with anything but maybe the educated folks here are aware of one.

    Obviously, I am interested in historical infiniti MF buy lease rates.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi allagaroo. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Infiniti M35X with 12,000 miles per year are .00135 and 55%, respectively. The numbers for an otherwise identical 39 month lease are .00131 and 54%.

    Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GS 350 AWD with 12,000 miles per year are .00194 and 52%. The numbers for an otherwise identical 48 month lease of this car are .00194 and 43%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new M35, tom_pa. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new ride!

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi bcmull. Unfortunately, I am not aware of any web site that provides information on manufacturers historical lease programs to the general public. You probably will be able to find the information on Infiniti's past lease programs that you are looking for by scrolling back through older posts in this discussion though.

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  • automanicautomanic Member Posts: 4
    Anyone know the MF and resid for the 2006 m45?
  • diman1881diman1881 Member Posts: 6
    Hi all,

    Looking to lease for the 1st time. I get the VPP plan D infinity rate through work but think I am getting screwd by the dealer on fees... I am happy with the price of the car (2007 M35X with the Advanced Tech Package) MSRP of $52000 and A VPP price of 45,944.20. Then come the additional charges...

    Dealer Delivery Fee 1,148.61
    Destination and Handling 700
    Documentation Fee 203
    Acquisition Fee 595
    License Fee 83

    Seems to me like I am getting nickel and dimed here to counter part of the VPP price? Please let me know!!

    By the way the lease is a 36 month lease with a 54% residual value and a .00131 Money Factor. After initial payment comes to $635 a month.
  • diman1881diman1881 Member Posts: 6
    Hi all,

    Looking to lease for the 1st time. I get the VPP plan D infinity rate through work but think I am getting screwd by the dealer on fees... I am happy with the price of the car (2007 M35X with the Advanced Tech Package) MSRP of $52000 and A VPP price of 45,944.20. Then come the additional charges...

    Dealer Delivery Fee 1,148.61
    Destination and Handling 700
    Documentation Fee 203
    Acquisition Fee 595
    License Fee 83

    Seems to me like I am getting nickel and dimed here to counter part of the VPP price? Please let me know!!

    By the way the lease is a 36 month lease with a 54% residual value and a .00131 Money Factor. After initial payment comes to $635 a month.
  • mikeonemikeone Member Posts: 4
    Hello All: A dealer in NY gave me this quote on a 39month/10K miles a year lease for a 2007 M35X with Tech package: $565 month with $3100.00 out-of-pocket which includes bank fee, 1st payment and NY taxes. The MSRP is approx $48,300. Does this sound like a good deal? I haven't gone to the dealer in person yet to try to negotiate further. I need to make a deal within a month. Let me know what you think. Thanks, MikeOne
  • ghstudioghstudio Member Posts: 972
    1) Dealer delivery fee is pure junk...that's just profit. Sort of sounds like the dealer has a new high priced "administrative fee". $1148 is a rediculous amount for this.
    2) Destination fee seems right...it's a fixed amount and should appear on dealer invoice.
    3) documentation fee is determined by your state...it may be right...this is to register your car.
    4) I thought bank fee was 550..not 595. If you are also paying a bank fee then I don't know what this is...
    5) There is no license fee when you buy a car..there is a registration/documentation fee. What is this fee??

    I agree...your dealer is trying to take advantage. Is ther another dealer near you? If you are not in NY consider multiple security deposits to lower the mf.
  • ghstudioghstudio Member Posts: 972
    Does NY require you to pay taxes up front?? In most states, you only pay the first month's payment (plus tax on that payment) and registration cost up front.
  • jcee2jcee2 Member Posts: 8
    Yes I beleive you pay NYS taxes on all of your lease payments up front.
  • allagarooallagaroo Member Posts: 88
    Wrong!

    I've been leasing cars for years in N.Y. and always put my taxes into my monthly payment. It is not necessarily the most economical since you pay tax on the tax with each payment. I guess it depends somewhat what you do with the money and what it earns for you in lieu of paying the taxes upfront.
    J
  • kyfdxkyfdx Moderator Posts: 269,254
    Even though the amount of the tax has been rolled into your payment, the tax itself is still paid upfront to the state.

    Rolling the tax amount into your payment seems like the best way to go, by the same reasoning that advises to not make a CAP cost reduction on a lease. If your leased vehicle is stolen or totaled early in the lease term, any money paid upfront essentially "disappears".

    regards,
    kyfdx
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  • corschecorsche Member Posts: 29
    A couple of those fees are part of the VPP program calculation. The $1,148.61 is the 2.5% dealer delivery fee. see below:

    D PLAN
    Dealer invoice
    Minus VPP discount (Nissan 2.87% : Infiniti 1.65%)
    Plus dealer added options, Security Plus, Infiniti Extended Protection Plan, etc.
    Plus 2.5% delivery fee of dealer invoice after VPP discount has been subtracted
    Plus destination and handling charge
    Minus applicable incentives
    Equals participant's purchase price

    or visit the site at
    http://www.insidenissan.com/vpp/vendor/offer.html

    The document fee of $203 seems high and most companies have a lease acquisition fee and license
    I hope this helped.

    Corsche.
  • ageorge1ageorge1 Member Posts: 7
    if you pay a CAP reduction upfront, don't you get it back from your insurance company? Let's say I pay the whole lease off, then the insurance company pays out a check for the stolen car. The leasing company can't keep the whole insurance payment because I gave them a CAP reduction already.

    P.s. Whatever you do, in NY do not deal with Millenium Infiniti. I got jerked around so much and I know 5 other people with the same bad experiences. They promise you so much, but can never deliver. Too bad I didn't find out about the bad experiences till after it happened to me.
  • kyfdxkyfdx Moderator Posts: 269,254
    if you pay a CAP reduction upfront, don't you get it back from your insurance company?

    Generally... no, you don't get it back.. If, by chance, you had made a huge cap cost reduction (say, $10K), and the value of the car is $5K more than the loan balance, then depending on your insurance, leasing company and state insurance regulations, it is possible that you may get the $5K back.. But, that isn't because of GAP insurance.. that is just because the car is worth more than the payoff (an occurrence that would be unlikely without a huge CAP cost reduction).

    But, you may not even see that. You have to pay for the insurance, but the car still belongs to the leasing company (unlike a loan, where the car belongs to you, but the bank has a financial interest).

    regards,
    kyfdx

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  • allagarooallagaroo Member Posts: 88
    Please be more specific about the experiences at Millenium Infiniti. I was deciding between Atlantic and them. Millenium quoted me $300 over invoice for a M35X and Atlantic $400 but I haven't gone back to Atlantic to meet or beat it yet.

    thanks
    J
  • clarence10clarence10 Member Posts: 57
    J,
    Did you purchase the vehicle from either dealer? What was your experience?

    I am on Long Island and looking for a deal as well for the M35X.

    If so, what price paid and lease price if applicable.

    Thx
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