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2014 Infiniti QX60 Deal in Illinois

jdcohenojdcoheno Member Posts: 3
edited October 2014 in INFINITI
I am looking at QX60 3.5 Premium plus Touring package with $52,400 MSRP.

I was told the money factor would be .00041, Residual of $30,845 and $711/month for 39/12k. Zero money down, taxes rolled in. I am in Illinois for Tax purposes. I know that I should be able to get a few grand knocked off from the MSRP but what would be reasonable and if, for instance I could get down to say $47,500, what would that do to monthly payments? Also, Illinois tax law in changing as of 1/1/15 so that cost of car is not taxed upfront...but rather each payment is taxed...which is significantly better deal. How should I address this with dealer or should I just wait until January?
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Answers

  • steverstever Guest Posts: 52,454
    edited October 2014
    2015, right? I get $52,795 for the MSRP but maybe I messed up an option somewhere.
  • jdcohenojdcoheno Member Posts: 3
    2014....and Premium Plus and Touring package....sorry I was not clear at all!
  • steverstever Guest Posts: 52,454
    edited October 2014
    No biggie - @michaell or @kyfdx will help you with the money factor and residual numbers.

    It'll be curious to watch the dynamics between sales and leases as people over your way figure out that Illinois has fixed their leasing laws.
  • jdcohenojdcoheno Member Posts: 3
    Yes, it is an improvement for consumers in Illinois. I understand that for this year, dealers get tax credits from trade in's that are transferable so they can be used to offset some of the lease taxes for new leasing parties in 2014. In this way, people looking to lease in October won't have to wait until January to take advantage of new taxes. However, it complicates comparison of lease deals because it is one more factor to consider!
  • kyfdxkyfdx Moderator Posts: 236,830
    jdcoheno said:

    I am looking at QX60 3.5 Premium plus Touring package with $52,400 MSRP.

    I was told the money factor would be .00041, Residual of $30,845 and $711/month for 39/12k. Zero money down, taxes rolled in. I am in Illinois for Tax purposes. I know that I should be able to get a few grand knocked off from the MSRP but what would be reasonable and if, for instance I could get down to say $47,500, what would that do to monthly payments? Also, Illinois tax law in changing as of 1/1/15 so that cost of car is not taxed upfront...but rather each payment is taxed...which is significantly better deal. How should I address this with dealer or should I just wait until January?


    .00041 MF and 54% residual for 39mo, 12K/yr.

    It's hard to say what $47,500 will do, because we don't know what selling price they are using now. Surely, it isn't MSRP? Also, we don't know how much is added for the tax.

    But, if we assume $47,500 for selling price, $3500 for tax and $700 for acquisition fee, for a CAP cost of $51,700, the payment would be about $633/mo.

    But, here is another problem... $30,845 can't be the residual for a 2014 model that has an MSRP of $52,400... It just doesn't compute. Either the residual is lower or the MSRP is higher.. or, the dealer is quoting the wrong numbers..

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