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Infiniti FX35, Infiniti FX45, Infiniti FX50, Car Leasing, SUV
#1470 of 1712 Leased a new 2010 FX50!
Jun 20, 2010 (8:43 am)
My wife and I just leased an FX50 w/Tech pkg, NO Sport pkg, illuminated kick plates, splash guards, first aid kit, rear bumper protector, cargo area organizer, and vehicle alarm impact sensor; Black Obsidian exterior with Wheat interior.
MSRP was $63,850.
Invoice was $58,675.
Received $1,000 in loyalty cash.
Money Factor was 0.00085 (2.04%)
Residual Value for 36 months at 15,000 miles annually was 48%.
Lease Acquisition fee was $595.
Registration/DMV Fees were $798.
Dealer Document Prep Fee was $45.
Basic LoJack was $695.
I should note we cheated a little bit by using the VPP program (www.insidenissan.com), so we didn't really negotiate anything other than our trade-in. But to our frustration we did have to set the dealer straight on the money factor (which Miller Infiniti in Van Nuys initially quoted as 0.0021 - NOT!)
The dealership also initially quoted 50% for residual value, failing to mention that it was for 10,000 miles per year, so that was a bit of a bait-and-switch. Also, the dealer gave us $4,000 for our trade-in, but then wound up applying it to title, registration, acquisition fee, etc. instead of using 100% of it to adjust the cap cost (meaning the monthly payment didn't match what I had calculated online).
Once we got all that nonsense sorted out (choosing to pay DMV fees, first lease payment, and the like with a separate check so that the $4,000 would bring the adjusted cap cost to $54,322.30), we wound up with a monthly payment of $801.
#1471 of 1712 Gap insurance? Closed vs. Open lease?
Jun 21, 2010 (5:40 pm)
My insurance agent asked me if I wanted to purchase gap insurance on my leased FX50. I tried to find out online if I needed this, and only managed to confuse myself!
I came across terms like "closed-ended lease" (which seemed to mean even if the car is worth less than the agreed-upon residual value, I can turn it in at the end with no penalty) and "open-ended lease" (which meant the lessee would have to pay the difference between the agreed-upon residual value and actual residual value when the car is turned in at the end). But I couldn't find out how to determine which one my lease contract was.
Also, neither answered the main question posed by my insurance agent: if the car is totaled before the end of the lease period, what happens if I don't have gap insurance? (If the insurance company determines the car's depreciated market value at the time of the accident was less than I owed the lessor at that time, does the insurance company only pay its calculated amount to the lessor and I'd be required to pay the difference?)
Thank you everyone for any clarification and advice you can provide!
#1472 of 1712 Re: Gap insurance? Closed vs. Open lease? [blastphemy]
Jun 21, 2010 (5:56 pm)
You'll have to check with the dealer. In Illinois gap insurance is covered automatically. Most leases are closed-ended, I'd be shocked if it was otherwise.
Jun 21, 2010 (6:24 pm)
Giving back to the forums:
I closed my deal today at Fields in Glencoe, Illinois. Basically I got the fx35 awd premium at invoice(minus the $1000 loyalty bonus). 52%, 0.00092, 39mos/10k miles. The way the $1000 came off was after the state tax was computed. Easy deal, great people to deal with.
I've actually had the car since last Wednesday (some paperwork issues to deal with that only got sorted out today), and I love it. Biggest pluses vs my 08 model are: better audio (by far), much faster out of the gate, nicer driving feel, great cooled seats (key in the summer in Chicago), aux cable for radio (been listening to Pandora off my BB). Biggest minuses are that while it's slightly longer on the exterior the cabin is actually slightly smaller for all parties (front, rear, cargo), and sightlines aren't quite as good as my 08, but maybe I need to get used to that. Price went up quite a bit over the last couple of years, so I guess that's a negative too.
#1474 of 1712 Re: Gap insurance? Closed vs. Open lease? [blastphemy]
by kyfdx@Edmunds HOST
Jun 22, 2010 (3:20 am)
what happens if I don't have gap insurance? (If the insurance company determines the car's depreciated market value at the time of the accident was less than I owed the lessor at that time, does the insurance company only pay its calculated amount to the lessor and I'd be required to pay the difference?)
That's exactly what happens without GAP insurance... But, check your lease paperwork, or call IFS.. Many leasing banks (especially captive manufacturer finance companies) include GAP with every lease (Honda and BMW for example.... Toyota does not).. So, you may already have it.
Did your insurance agent quote an amount? Usually, your own insurance agent is the cheapest place to get GAP, if they offer it..
And.. you most certainly have a closed-end lease, if it is through IFS..
#1475 of 1712 Re: 2010 FX35 AWD w/Premium [grossie]
Jun 29, 2010 (2:43 am)
You're very welcome, grossie.
Prices Paid: Buying & Leasing Experiences Forum
#1476 of 1712 July lease rates
Jul 02, 2010 (9:08 am)
Does anyone know what the current July rates for the fx are?
#1477 of 1712 FX50 - M45 navigation systems comparison
Jul 03, 2010 (3:16 pm)
The navigation system in my 2010 FX50 seems extremely sluggish as compared to my 2008 M45's nav. All the various controls - from checking tire pressure and fuel economy to setting a destination - is noticeably slower on the FX50.
Also, when I set a destination and then check "traffic on route," I frequently get a message that no traffic data is available. And if nearby or on-route data actually does load, it usually takes from 20 seconds to 3 minutes.
I've also never seen green "traffic flowing" line items on the FX50 on a route, only yellow or red when congestion is near. And it seems like I rarely get traffic for the entire route.
That is in sharp contrast to my M45, which will download traffic data almost immediately after I've begun my route, and even give me a verbal warning if any congestion is noted along the route. (I never get a message on my M45 that traffic data isn't available if I've set a route that includes a highway.) On my M45, I always see the portions of the route that are green, and see traffic right up 'til the last highway exit. (It almost seems like the FX50 says "data not available" when a portion of the route is green with traffic flowing, which I sure hope isn't an intentional "upgrade" from the 2008 nav systems!)
If anyone else has experienced a sluggish nav system or had their XM NavTraffic act this strangely, please let me know so I can determine if this is just how the 2010 FX system works, or if I should be making a big stink at the dealership.
I've confirmed with XM that I have XM NavTraffic Premium, and the dealership has already "rebooted" my system once.
Thank you, everyone!
#1478 of 1712 Re: FX50 - M45 navigation systems comparison [blastphemy]
Jul 03, 2010 (7:45 pm)
Quick follow-up with another problem - certain addresses are not recognized correctly by the nav system. Try this with your nav system: set the destination for 355 S. Grand Avenue in Los Angeles, CA. Now compare that location (which incorrectly shows as San Pedro, CA in our system) with a search for "place" KPMG in Los Angeles, CA (the business at 355 S. Grand Ave in LA) which correctly shows its location as downtown Los Angeles.
The problem is that there are no less than SIX addresses in Los Angeles county for 355 S. Grand Avenue (Los Angeles - 90071, Los Angeles - 90003, South Pasadena - 91105, San Pedro - 90731, West Covina - 91791, and Glendora - 91741), and the nav system is arbitrarily selecting the San Pedro address as "Los Angeles" (to the EXCLUSION of the real Los Angeles address) without giving the driver an option to select any of the other five Los Angeles locations of 355 S. Grand Ave.
We've tried entering the address multiple ways (by city first, then street number, then street; or by just 355 Grand Ave; etc.), and every time, the nav system substitutes San Pedro for Los Angeles for this address.
Same thing happens with Disney Hall, Ahmanson Theatre, or any other address on Grand Avenue in downtown Los Angeles!
#1479 of 1712 Re: July lease rates [rawbomb]
Jul 08, 2010 (2:37 am)
Hi rawbomb. I have seen Infiniti's July lease program and I would be happy to help you out. The FX's lease program varies by term, trim level, and mileage allowance. You never mentioned what any of these variables are, so for now I will have to make some assumptions. Let me know if you want something different.
Infiniti Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 FX35 AWD with 15,000 miles per year are .00041 and 48%, respectively for consumers who qualify for its top credit tier.
Prices Paid: Buying & Leasing Experiences Forum