Last post on Nov 29, 2013 at 12:12 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Infiniti G35, Infiniti G37, Car Leasing, Coupe, Sedan
#1103 of 8139 Looking for a High Mileage lease. Help!! Please.
Mar 16, 2007 (1:28 pm)
I am in sales and unfortunately my company is pulling our car program. I am in a 2006 Chrysler 300, company owns the vehicle so I am going in without a trade.
My heart is set on the G35 Coupe Base.
Competition Infinity on Long Island NY.
Here is what I was given:
2007 G35 Coupe
24 month lease
25K miles per year
prem package 2,850
sport pkg 1,600
Total $37,900 (taken off of Infinit website)
MSRP $35,511.79 (They said MSRP for these options is $37,500 guess they were close)
Residual is $25,475
Tire tax $12.50?
$499/month with $4,000 down, includes taxes upfront
$599/month with $2,500 down, does not include taxes.
My company pays me $.485 cents per mile as a reimbursment so I can swing the payment and still have enough for gas and insurance as long as I drive 2,100 miles per month.
Does this make sense? Am i miising anything? Any suggestions on doing more homework here?
INCLUDES Premium Package and Sports package (gotta have the bigger tires)
Mar 16, 2007 (1:50 pm)
How much should my lease payments drop going from a 24 month to 30 month lease.
#1105 of 8139 Re: Lease offer for 2007 G35x - need advice [csonka1]
Mar 16, 2007 (1:59 pm)
No...the $428.01 is the monthly lease payment you were quoted PLUS tax. For example...here in CA, I don't have to pay all of the tax upfront, so if I was using the exact same numbers as you, my monthly payment would be higher $428 (including tax), but my closing costs would be lower. Get it? As for the registration thing...maybe it's different there, but when my lease was expiring in December I was going to have to extend for 1 month until I could find a new car. When I asked about it, I was told that even if I just paid the registration 1 month ago, it wouldn't transfer over with me and I'd have to pay again on the new car. I could be totally wrong and maybe they didn't realize I had personalized plates that came with me, but that's what I was told.
As for the 39 month vs. 36 month rate, it is possible that they have better rates for 39...they change all the time and sometimes they have specials like that. But, like I showed you, the best 36 month rate will only end up being a few bucks more a month, but you are responsible for 3 fewer months...it's up to you.
If you don't put the money down for a cap reduction, your monthly payment should be $460/month based on the 39 month numbers you gave me. If they are giving you the option of putting down a security deposit for 400.00 and it lowers your money factor by .0001 (like it should) it is worth it. Eventhough it ties up the 400, your payment will be lower by about 5 bucks, BUT...the security deposit is REFUNDABLE at the end.
My suggestion...and this is just based on what I would do. I would tell them I want the best 36 month rates, which for 12k miles a year are 59% and .00175. I would push for a lower cap cost if possible. I would also pay the closing fees (1st, registration, acq. fee, doc fee, tax) upfront and just finance the car. If the sec. deposit will lower my payment I would also do that. All in all, I don't think that your dealer is bs'ing you really. I think that they are burying a couple hundred in there somewhere, but it's hard to say as I don't know how paying ALL of the tax upfront works.
#1106 of 8139 Re: Looking for a High Mileage lease. Help!! Please. [chefadam1]
Mar 16, 2007 (2:15 pm)
Here is what you should do first. Find out the Cap cost, Money Factor, Residual percentage, and how many miles a year that includes. Also, get them to give you an itemized breakdown of the closing costs. Also find out if there are any other fees that you should know about. Acquisition fee, etc. Then when you post that we can see what fees are legit and what are padded dealer profit. You are planning a fairly high amount of mileage which can be costly in a lease. I am only familiar with lease numbers up to 15k, not sure how it works above 20k per year, so unless they give you the financing numbers that reflect that I wouldn't want to try to guess and be wrong.
#1107 of 8139 Re: Lease offer for 2007 G35x - need advice [sprinkler13]
Mar 16, 2007 (2:24 pm)
Sprinkler13, I think I was not clear earlier or maybe I am not getting it. The quoted lease payment I received of $396.31 is not a pre-tax sum b/c the tax is part of the $5k down. So, your initial reply showing the lease payment of "$396.31 (pre-tax)" is confusing me. Can you clarify?
What I am curious about are the numbers w/o putting down the pre-tax amount of $1,496.06 and rolling that number into the monthly payments. And the numbers if I do not put down the $2,312 cap reduction. Maybe we'd still arive at the $460 per month figure you provided. I am not sure. Your thoughts are really appreciated.
#1108 of 8139 Re: Lease offer for 2007 G35x - need advice [csonka1]
Mar 16, 2007 (3:54 pm)
Ok...when I said pre-tax payment, it is just as it sounds...that is for the monthly depreciation and the monthly financing. Now, from that we still have to add tax, which in your deal they are quoting you to pay it all up front. I am not that familiar with doing that myself so you will have to ask them how they figure out $1496. If you didn't pay the tax up front, and you paid monthly like me, my calculations show it as 428/mo.
If you don't pay the $2312 cap reduction your cost for depreciation and financing is $460/mo. The tax will be different and likely your total to pay tax upfront will also be different from the $1496 amount. If you didn't pay the tax upfront or the cap reduction your monthly payment will be $496/mo.
You should definitely ask them to figure out how they come up with $1496 for the taxes...it seems like they are charging you the tax on the cap cost of the car, but aren't taking your cap reduction into consideration.
#1109 of 8139 Re: Lease offer for 2007 G35x - need advice [sprinkler13]
Mar 16, 2007 (5:44 pm)
Ok, now were on the same page. Thanks for the info. Much appreciated.
#1110 of 8139 Lease Journey G35
Mar 17, 2007 (7:06 am)
With normal inception fees down (approx. $1,600?)
G35 Journey Sedan
MSRP - $35,140.00
What would a good PRE-TAX lease cost?
Would $430/month come close??????????
#1111 of 8139 Re: 2007 G35 AWD lease [sprinkler13]
Mar 17, 2007 (12:22 pm)
Here is the response I received from the dealer:
I have the exact car 2007G35x Black with premium, satellite radio in stock, just wanted to let you know.FirstPayment = $581
Security Deposit = 0
Bank Fee = $595( same as acq fee)
tax = $35.70
Doc fee =$99
Title App = $15
Tire Tax = $1.25
total $1326.95 which is your total out of pocket on the 36m x 36k lease $581 tax included
Sale Price= $36,589.88
Bank Fee = $595 or Acquisition Fee
Money Factor = ..00200
MSRP = $37,290
Residual = $22,001.10
Residual %= 59%
Term 36 months
sales tax 6% on payment
monthly depreciation = $430.08
Monthly money cost = $549.05
Lease payment = $549.05
sales tax = $32.94
Total Payment= $581.99
What do you think of this deal? The MSRP $37,290. The MF still seems a bit high. Where is the cap cost? Any advice?
#1112 of 8139 Re: 2007 G35 AWD lease [jamella]
Mar 17, 2007 (7:45 pm)
My new lease for a G35 journey with premium, navigation and 18 inch tire package was 525 with 1300 out of pocket. Ofcourse i didnt want to pay all that out, so i rolled a grand of it that included my last payment of my Mdx, which was 599. So my eventual payment was 560 with 500 out of pocket. I payed the 500 on my credit card and just got my 599 check back from infiniti. I think i did pretty well,