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Infiniti EX35 EX37 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi irepeat. Infiniti Financial Services' current buy rate lease money factor and residual value for a 39 month lease of a 2010 EX35 RWD with 15,000 miles per year are .00122 and 55%, respectively. This is a national lease program that should be the same throughout the country. Individual dealers should not have the authority to alter banks' published residual values.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rcarfl. What you were told is basically correct. The only 2009 models that Infiniti is still providing lease support on are the G37s. One can not lease an '09 EX through Infiniti Financial Services any longer.

    IFS' current buy rate lease money factor and residual value for a 36 month lease of a 2010 EX35 Journey RWD with 10,000 miles per year are .00121 and 56%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, Walt. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 EX35 Journey RWD with 15,000 miles per year are .00121 and 54%, respectively. The numbers for an otherwise identical 39 month lease are .00122 and 53%.

    IFS' numbers for a 36 month lease of an '09 EX35 Journey AWD are .00137 and 55%. The 39 month numbers are .00138 and 54%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aandclaw. The vehicle that you're interested in has a spread of around $3,000 between its full MSRP and dealer invoice price. That means that the selling price that you were quoted is only a couple hundred dollars over invoice, which is a very good deal.

    Just make sure that the dealer is using Infiniti Financial Services' current 39-month buy rate lease money factor of .00138 to calculate your payment and you're in business.

    Car_man
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  • sufansufan Member Posts: 10
    Hi. I stopped by the local dealer and asked the sales person to e-mail me a quote. Here is what I got as a starting point on a AWD Journey for 39 months and 12k per year:

    MSRP $40,555 (includes "complimentary" navigation and Bose upgrade with all around camera @ $2150).
    Selling Price - $39,490
    Residual - 55% or $22,305.25
    Money Factor - .00138
    Up Front Money - $2,896 which includes tax, DMV, Gov fees, and Bank fee, first payment
    Monthly Payment - $525.91

    I am on the fence on this car - haven't even test drove it yet. Can anyone confirm my "inititial deal"? Obviously there seems to be some room to go lower for the selling price but what would be a reasonable price? Also, anyone know what the "Gov Fee" is? I am assuming they mean government fees but what is that all about? Also, I'd prefer 36 months vs 39 so how would that affect the deal?

    Thanks for any insight.
  • jayriderjayrider Member Posts: 3,602
    Folks are getting 4-5k off msrp. That would change your lease rates by about $30 per thousand less. You should be offered no more that 36k on the cap cost.--Maybe 1-2k less.
  • sufansufan Member Posts: 10
    Thanks Jayrider that should be a big help in negotiating a final price. My other question is does anyone have any experience with this car in snow? I live in one of the most snowiest cities in the country. I used to be a jeep owner but like the idea of having a "sports" car with some four wheel drive capability if it can really handle the snow.
  • jmessjmess Member Posts: 677
    My EX 2wd does really well in the snow and ice with Michelin Xi2 snow tires. So AWD with snow tires would give you even more initial traction but of course it doesn't do anything to help with braking on the slick stuff.
  • kinsalekinsale Member Posts: 33
    That would make the lease close to $410. Is this possible?? That would be amazing if true!
  • sufansufan Member Posts: 10
    Well I took a test drive and told them I wanted a better discount off the selling price. The sales manager said he can't do any better on a lease but could give me another $2,500 on a purchase. I walked out. Guess I could try a dealer in another city or just get something else.
  • flashzoomflashzoom Member Posts: 64
    edited February 2010
    Sufan,
    ok..if you are looking for the Journey AWD + navi & avm
    selling price will be around $34000 + TTL
    if you can go lower that will be great
    but that's the fair price. try to use that set your guideline.
  • jmmsumrujmmsumru Member Posts: 5
    I'm looking for the MF and Residual Rate for a 2010 AWD Journey for a 24 month lease at either 10 or 12K per year. Also, is the only deal currently available for return customers ($500 cash), I'm going to be turning in my 2008 EX soon? Thanks!
  • sufansufan Member Posts: 10
    I spoke to a dealer in a city 2 hours away. For a 12K 39month lease on an all wheel drive Journey he offered:

    bose / nav package MSRP is 40555
    invoice is 37512
    Selling price 38012
    Payment is 511.19 with 1st payment, dmv and tax down.
    Residual is 55%
    MF is .00153

    How are people getting this car for $34K???
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jmmsumru. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 EX35 AWD Journey with 12,000 miles per year are .00137 and 56%, respectively.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    The $500 loyalty cash that you mentioned is the only cash incentive that Infiniti is providing on leases of this vehicle through IFS right now.

    Car_man
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  • timmbojtimmboj Member Posts: 123
    Car_Man,

    I have a lease deal on the table for a 2010 Infiniti EX35 AWD with AVM-Navi, Premium and Technology Package. No 18" wheels though. I've just been emailing back and forth with the guy, but here's what I know...

    MSRP $45,075.00
    Sale price $765 over invoice (whatever that is)
    .00138 MF
    54% Residual
    39 month lease
    12K miles per year
    $1,750 drive off check
    $550 a month which includes 7% tax

    Is there some sort of incentive on the AWD models that I haven't read about? The quotes I've been getting all seem better than the RWD models. This particular lease sounds too good to be true.
  • jayriderjayrider Member Posts: 3,602
    May be too good to be true --- put your deposit where his mouth is and see if there is a ooops I forgot this.
  • houston1961houston1961 Member Posts: 1
    car_man or other hosts and participants:

    Here's the "final" offer from my local Houston Dealer with a VPP discount on a EX35 Journey:

    MSRP $36,865
    VIP-VPP Sales Price $32,878

    $0 Down
    Total Fees at signing = $282.85
    Lease Pmt = $478.51
    39 Months
    15K/ yr mileage

    It has a stated residual of 53% ($19,538), and a money factor of .00208 which is higher than what I've seen as IFS's published rates.

    Any guidance or comments much appreciated! Thank You.
  • sufansufan Member Posts: 10
    I read somewhere that Infiniti is offering dealers $3,000 of hidden incentives until March 31st. Is this true and does anyone have advice on getting dealers to pass these incentives along?

    Thanks.
  • timmbojtimmboj Member Posts: 123
    I'd love it if there was a "hidden" $3000 incentive for leasers. Last month there was a not-so-hidden $3000 available for purchases only, not for leases. The Infiniti website has added a 1.9% financing option, and has continued their AWD lease offer through March 31st, and included the RWD model into that lease offer too.

    Perhaps Car_Man will soon post new MFs and Residuals for March.
  • timmbojtimmboj Member Posts: 123
    I couldn't do it. As good a deal as it was (I suppose, I never actually agreed and went to sign papers, so who knows what truly might have happened).

    But it boiled down to it having too much content, and wasn't the color combination that I liked.

    Back to the negotiations table for me.
  • timmbojtimmboj Member Posts: 123
    Hi Car_Man,

    Do you have updated MFs and Residuals for March, or do they remain the same as February?

    39 Month, 10K miles or 12K miles, AWD or RWD
    36 Month, 10K miles or 12K miles, AWD or RWD

    Thanks Car_Man!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey timmboj. The incentives on the RWD and AWD versions of this vehicle are exactly the same. The residual values for the AWD are slightly stronger though.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi houston1961. The money factor that you were quoted is too high. I have seen Infiniti dealers try to jack up the factor on VPP deals to make up for some of their lost profit in the past. I would not be surprised if that is what is happening here.

    Infiniti Financial Services' current 39 month buy rate lease money factor for the 2010 EX35 Journey 2WD is .00122. Make sure that the dealer that you are working with uses this factor to calculate your payment.

    You also should double check that the dealer is using Nissan's employee purchase price for your deal, which is more attractive than its supplier purchase price. Nissan enhanced it program this month so that anyone who is eligible for the VPP program is available for its employee purchase price. I've seen dealers, either intentionally or not, attempt to use the worse price on deals lately.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sufan. Congratulations on your #1 ranking. As a fan of another, less successful Big East team I'm jealous. I'll still help you out though ;) .

    Infiniti is indeed currently providing $3,000 dealer cash on the 2010 EX35. Having said this, the dealer cash is not compatible with this car's special lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Timmboj, here's the latest info for you.

    Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2010 EX35 RWD with 12,000 miles per year are .00121 and 57%, respectively. This vehicle's 39 month numbers are .00122 and 56%.

    IFS' numbers for the EX35 AWD are .00137 / 59% for 36 months and .00138 / 58% for 39 months.

    If you were to lease with only 10,000 miles per year these residuals would be 1% higher.

    Car_man
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  • timmbojtimmboj Member Posts: 123
    Thanks Car_Man! You're the best!!!

    When I shopped for my last lease I found that certain regions had better incentives.

    I'm currently shopping the Eastern half of the United States for the Infiniti. Regarding dealer incentives, is one particular region going to be better than another? Or are they all generally the same for the Infiniti EX?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, timmboj :blush: .

    Vehicles' incentives do sometimes vary by region. Having said that, Infiniti's current offers for the 2010 EX are national.

    Car_man
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  • comfortzonescomfortzones Member Posts: 37
    We are coming out of a G35X lease and likely moving into another Infiniti lease. The current lease is a 39 month, 15k/year. We've actually have driven only 12k/year. The car is mint. One thing that resources like Lease Kit state is that "The market value is often higher than the end of lease value stated on your contract." How do we determine if and how much positive equity we have that can be rolled into our negotiations for our next Infiniti lease? Thanks!
  • jayriderjayrider Member Posts: 3,602
    You have to look at the wholesale value of your car and compare that to the residual. Probably not much difference. Another factor is to see if dealers see your car as a hot used vehicle with buyers snapping them up as soon as they hit the lot. Do some research to check the numbers. Hope they look good. You can use the equity word to get competitve offers on a new lease -- may net you something.
  • sportsexpertsportsexpert Member Posts: 2
    is this a good deal 2000 down fully loading plus 1st and acustion fee 595 is 389 month for 39 months seems high total due at signing 5466
  • ussiniussini Member Posts: 17
    edited March 2010
    Hi Car Man,
    I visited dealer today in Northern Cal.
    Tthey told me RV for EX AWD Journey @ 39 months were the following: 54% (15K), 55% (12k), 56% (10k).
    The RVs you posted on March 4th were higher. Have they changed or is the dealer using bad numbers (& raising my lease prices!?)?
    Thx!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited April 2010
    Hi comfortzones. In order to determine how much equity you would have in your leased vehicle if you tried to trade it in, you need to compare its purchase price to its value on the open market at this time. Even though it states your car or truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.

    Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    If your vehicle's purchase price is significantly less than its current value on the open market then you may be able to work something out with a dealer that benefits you on your next vehicle. More often than not though consumers just end up walking away from their vehicles at lease-end.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ussini. Infiniti Financial Services' new April buy rate lease money factor and residual value for a 39 month lease of a 2010 EX AWD Journey with 15,000 miles per year are .00138 and 54% for consumers who qualify for its top several credit tiers.

    If you were to lease this truck with only 12,000 miles per year, its residual value would be 1% higher. Its residuals for 10k leases are 2% higher.

    Car_man
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  • apdspiderapdspider Member Posts: 61
    Hi guys,

    After leasing for years without understanding anything about it (I always looked at the monthly payment amount as my determining factor) I have educated myself I think pretty well. But I have a few questions.

    My father is trying to lease a 2010 EX35 AWD Journey with Premium, Bose, and Nav. The dealer MSRP is $42805 in NJ (7% tax not included).

    39 month lease
    10K miles per year.
    He was given the money factor of 0.00195
    Residual 54%
    They want some stupid amount like $5500 down and like $589 per month.

    If I understand leasing correctly (CarMan help me out...)

    My money factor should be 0.00137 and the residual should be 59%. (correct?)
    If we left the MSRP alone then the payments should be
    MSRP $42805
    RV (59%) $25255
    Total Depreciation $17550
    39 month lease into $17550 = $450 per month
    RV ($25255+MSRP $42805) X money factor .00137 = $93.24 per month
    Lease total $450+$93.24 = $543.24 plus TAX (7%) = $581.27
    Did I calculate that correctly? I think I did.

    Now to lower the payments:

    If we put $3000 down as Capital Cost reduction... then the math should be:
    MSRP $42805
    Cap Cost $39805
    RV $25255
    Total Dep $14550
    39 months into $14550 = $373.08 per month
    interest = RV (25255) + Cap Cost (39805) =$65060 X MF (.00137) = $89.13/mo
    Monthly lease total + Tax = $462.21 X 1.07= $494.57

    So, $3K down and the payments go down $86.70 per month thats about $29 per 1K.

    What is my best negotiating technique or numbers I want to throw at them? Lowered negotiated MSRP? Lower dealer fees? What other bull crap can I expect them to throw at us?
  • apdspiderapdspider Member Posts: 61
    Car man, how do you get RV of 59%? A 2010 EX35 AWD Journey with the advertised lease special is MSRP of $40,415 incl. destination charge. At lease end, purchase for $22,632.40, plus $150. Thats 22632.4 / 40415 = 56%

    That's for a 39 month lease, 10K miles. Am I missing something?
  • jayriderjayrider Member Posts: 3,602
    First negotiate the price of the car. You should be able to get at least 4k off msrp. You might also want to consider losing the premium package to save money. The car is luxurious enough without it.
  • apdspiderapdspider Member Posts: 61
    We will negotiate the MSRP. The TMV (True Market Value) based on this site shows that car with these options should sell for $40176. Thats already $2629 lower... with evidence that they should at least meet that price. They are sold on the premium package.
  • jayriderjayrider Member Posts: 3,602
    edited April 2010
    Overstock.com says an ex msrp 42k like what you want should have a target price of 36500. That may be a buy price not available for leases -- check it out.

    Carsdirect has the car priced at about the same. They will refer you to a dealer who will sell at that price.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're absolutely right, apdspider. A $5,000 down payment on a lease is absolutely nuts. Ideally, you should lease without making any sort of capitalized cost reduction. As Jayrider mentioned, the key to getting a good deal on a lease is to negotiate as low a selling price as possible.

    Shop around for a low selling price and then have the dealer calculate your vehicle's payment using its buy rate lease money factor.

    Car_man
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  • jhurocstarjhurocstar Member Posts: 3
    edited April 2010
    Hi, I have a deal to pick an EX35 Journey AWD with Bose Around View for 39 months at 12,000 miles for: 1450 down and 470 a month (including 6% tax).

    MSRP on the vehicle is 40,555, purchase price of 37,500 and MF is .00138

    I think this is a good deal as far as the payments, but It seems that the purchase price is somewhat high.
  • jayriderjayrider Member Posts: 3,602
    I've seen buy prices at 35k so your price is high. But the discount may be less for the leases. Don't know. Your numbers are decent in spite of the purchase price, however.
  • jhurocstarjhurocstar Member Posts: 3
    I think the prices in the 34-35k range are for purchase of the vehicle because Infiniti has the additional 3K incentive when purchasing.
  • comfortzonescomfortzones Member Posts: 37
    In my lease quote, the has quoted an $595 "Bank Fee" from IFS and "Dealer Fee" of $295. Are these (1) usual and (2) negotiable? My FICO is approximately 800.
  • apdspiderapdspider Member Posts: 61
    $595 acquisition is correct, no matter your fico score.

    dealer fees are pure BS. It is a way for dealers to make more cash. That is negotiable and you shouldn't have to pay.

    My father is signing today.
    10K miles/yr, 39 month lease
    2010 EX AWD Journey, Bose AVM, Navi, Premium, Tech ,and 18" Wheels.
    $595 Acqui
    $7.50 Tire fees
    $395 DMV fees (title, regis, plates)
    $2K extra down
    total $3K at signing

    $468 per month, NJ taxes included
  • comfortzonescomfortzones Member Posts: 37
    I am trying to keep a dealer honest. I know, good luck to me...
    Does anyone have the Money Factor and Residual Value for a 2010 EX35 Journey AWD with 12k annual miles for 36, 39 and/or 42 months – plus numbers for any available incentives (including Infiniti Loyalty)? I'm moving out of a 39 month G35x lease on 6/30.
    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi comfortzones. Here's the information that you're looking for. Through June 30th, Infiniti Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2010 EX35 Journey AWD with 12,000 miles per year are .00137 and 56%, respectively.

    The numbers for an otherwise identical 39 month lease are .00138 and 55%. The numbers for a 42 month lease are 00185 and 53%.

    Infiniti is currently providing a $500 loyalty cash incentive on this vehicle.

    Car_man
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  • comfortzonescomfortzones Member Posts: 37
    Our Certified TrueCar.com Infiniti dealer claimed yesterday that this website's prices are good only for purchases, not leases. is this accurate?
  • jayriderjayrider Member Posts: 3,602
    Yes -- the rebates are for buy only. Bummer.
  • moparguy23moparguy23 Member Posts: 1
    I think your dealer is mistaken...the rebates may only be good for leases, but a Truecar price can be used for a lease or financing...you might want to have him check again.
  • cliffpozcliffpoz Member Posts: 71
    edited May 2010
    Confused? Their current lease special is $399/month with $3999 down. Can the $500 rebate and the $3000 manufacturer to dealer be used to partially offset the $3999 down. So, I would only have to put $499 down ($3999 - 500 - 3000)?
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