- #5934 of 6176
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Re: New G35 in CA (Bay Area) [partzguy]
by osodeoro
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May 14, 2008 (8:45 am)
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Replying to: partzguy (May 12, 2008 7:27 pm)
Don, part skill, part luck, I guess. The luck part- the 3 Infiniti dealers (Oakland, Concord and Pleasanton) within a half hour drive. So they are pretty competitive. I did lots of research (here and elsewhere), test drives, etc. to determine what I wanted before I started the negotiation process. Once I new what I wanted, I sent them all requests for offers through Edmunds and heard back from them all within a day. The internet sales guys cut to the chase pretty quickly, and I was down around invoice from two of them in no time. Then I waited until the last day of the month and whittled it down a bit more and pulled the trigger.
Oakland seems to be the most aggressive, with Pleasanton willing to keep up with them. The Concord guy was very helpful, but in the end wouldn't work down on price like the other two.
Hope this helps and good luck!
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- #5935 of 6176
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Re: G35XS nav/prem/sport - Help me backwork these numbers! [bcarter610]
by brodway
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May 14, 2008 (8:47 am)
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Replying to: bcarter610 (May 14, 2008 6:25 am)
Again you are not specifying what the $3000 covers. Is it for fees that are associated with the cost of the initiation of the lease or are they taking the $3000 and putting it in their pocket, which to me is the same thing as you are now paying $40,0000 for the car and not $37,000. You can call it due at signing, origination cost, upfront cost, application cost or what ever else, but at the end of the day where does that money go. To reiterate in NJ, your total out of pocket costs should only consist of Acquisition fee of $595 which is mandatory to pay by Infiniti, motor vehicle fees which are dictated by the NJ motor vehicle commission and depending on how long you are registering the vehicle (2, 3, 4 years), Documentation Fee which all dealers charge (its another way of making money and tacking on a cost with a fancy name, but there is nothing you can do about it other than try to find someone who has a fee of no more than $250 or so), NJ Tire fee of $7.50. All these costs together should run about $1200. So by you putting up $3,000 instead there is $1,800 going somewhere that is not clear. It could only mean one thing. The $1,800 is going towards the reduction in the cap cost of the vehicle, which translates to a real cost of the car of $38,800 and not $37,000 you are stating.
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- #5936 of 6176
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Re: G35x - Good Deal? [brodway]
by mpkrasner
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May 14, 2008 (12:32 pm)
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Replying to: brodway (May 13, 2008 8:16 pm)
I'm looking to get the 36 month lease. According to what I've read in this discussion thread, I thought $450 above invoice was a good price. I'm not sure how the "incentive" or "upfront" cost is over since it only incorporates the first month's payment ($489), bank fee ($595), motor vehicle fee ($375), NJ state tire tax ($7.50), upfront taxes ($55.58) and doc fee ($199), which equals $1721.08.
If the deal is $450 over invoice, then by my numbers the net cap cost would be $37235 for a car with an MSRP of $40175 and an invoice of $36785 with a monthly payment of $521.07 and an upfront cost of $1232 w/o the first month's payment or $1722 with the first month's payment.
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- #5937 of 6176
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Re: G35x - Good Deal? [mpkrasner]
by brodway
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May 14, 2008 (2:43 pm)
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Replying to: mpkrasner (May 14, 2008 12:32 pm)
If the first month payment is already included in the payment, then your upfront costs are ok. You didn't specify initially that the first month payment was included in the upfront payment. But all the other numbers look legitimate.
Re-running the numbers you provided, specifically 450 over invoice is coming out at $488.70 which puts you right at that same $489 per month. So overall a solid deal.
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- #5938 of 6176
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Re: G35XS nav/prem/sport - Help me backwork these numbers! [brodway]
by bcarter610
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May 14, 2008 (5:31 pm)
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Replying to: brodway (May 14, 2008 8:47 am)
Hey Brodway - you have a very good point. I asked that she send me all the #'s she used to get at the price we're at. I should have more info for you some time late tomorrow. Thanks for all the responses - your feedback has been very helpful. As you can probably tell, this is my first go'round with leasing a car on my own. I've driven a 2002 Honda Accord (my first car) for the last 5 years, and i've decided it's time for something new! I look forward to hearing your responses when I get some more complete information. Thanks every1!
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- #5939 of 6176
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Re: brodway....i'm intrigued [brodway]
by stkntraffic
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May 14, 2008 (6:42 pm)
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Replying to: brodway (May 14, 2008 8:38 am)
The only thing I wonder about the multiple security deposits- is it more of a hassle to get your money back at the end of the lease? Meaning, do they find all kinds of BS problems they want to charge you for? I remember turning in a car a couple of years ago, and the leasing company tried to nick me for a number of issues. I pushed back and they dropped the charges, but still I wonder...
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- #5940 of 6176
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Re: brodway....i'm intrigued [stkntraffic]
by brodway
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May 14, 2008 (7:11 pm)
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Replying to: stkntraffic (May 14, 2008 6:42 pm)
If you have met all the requirements of the lease agreement and turned in a vehicle that is within reasonable condition, there is no reason why they shouldn't give you your money back. Like banks and financial institutions, IFS has to answer to banking regulators for their actions.
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- #5941 of 6176
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Re: brodway....i'm intrigued [brodway]
by dwynne
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May 14, 2008 (8:00 pm)
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Replying to: brodway (May 14, 2008 7:11 pm)
Someone posted here that they talked to IFS and their insurance and they were told that in the event of a total loss IFS would take the security deposits off of the current buy out price and then expect the balance from the insurance company. If they really did it that way, then your MSDs are no more secure than plopping down a large cap cost reduction.
Like you, *I* have always heard MSDs come back while cap cost reduction would be lost but I would want to make sure someone at IFS put it in writing somewhere that they would bill your insurance for full value and once paid return all of your MSD money (assuming you insurance paid out enough). Just something else to think about.
Dennis
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- #5942 of 6176
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Re: brodway....i'm intrigued [dwynne]
by brodway
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May 14, 2008 (8:21 pm)
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Replying to: dwynne (May 14, 2008 8:00 pm)
DWynne...If you have proper insurance coverage, the insurance company should indemnify you for any property damage incurred either to your vehicle or done by your vehicle. If you don't properly insure yourself or carry a very high deductible, then you absolutely are exposing the deposit. In any event, whether they have your deposit or not, if you total the car and don't pay off IFS completely you are still on the hook for the balance whether they have a deposit in place or not. If you don't pay them off they will sue you or put a lien against your assets. They work just like any other bank or financial insitution.
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- #5943 of 6176
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Re: brodway....i'm intrigued [brodway]
by dwynne
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May 14, 2008 (9:04 pm)
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Replying to: brodway (May 14, 2008 8:21 pm)
You missed the point  .
If you have put down $3k in MSDs and your car is stolen or totalled what IFS said they would do (as told to a forum member) is take the $3k off off the amount due for the current value of the car and then expect the balance to be paid by the insurance company. The insurance company is happy to pay less than the market value of the car, if that is the case.
So if at the time the car was lost if you added up residual plus unpaid principle and interest and you got $30k. They would then expect $27k from the insurance and you would be out your MSD money. If your insurance will not pay $27k, saying current value of the car is less, then you are out $3k MSD and whatever else you owe (this is not likely).
If you paid the $3k up front the IFS would ask for the amount due and you would be out our cap cost reduction plus any difference between what your insurance pays and what the lease bank requires.
They way you and I think it should work would be for the lease bank to ask for $30k from your insurance, the insurance will pay fair market value, if that is $30k or more then the lease bank gets $30k and you get your $3k in MSDs back. If your insurance pays less then that comes out of the $3k in MSDs.
So if they do it as they told the forum member they did, your money is just as at risk with MSDs as it is with a cap cost reduction.
So what I am saying is if you are planning on doing MSDs you need to be SURE in writing how they are applied in the event of a loss. If they are merely a backstop should your insurance fail to satisfy the lease bank, then good. If they are the first thing applied to the loss, then bad.
When I have some more time I will try to search up the messages posted about this. If was most likely over in the G lease thread though.
Dennis
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