- #1455 of 3301
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Pre-pay lease program?
by jsarrett
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May 21, 2007 (7:51 am)
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I have a G35x on order. No money down lease. I hate putting cash down on a lease, but dealer claims that infinity has some special program where you prepay up to 9 months and the money is not a cap cost reduction. (In other words if car is stolen you get the money back) Infinity then gives you money at the end of the lease for the prepayemt. He claims is like a 10+% return. I have not seen any paperwork on this, but was wondering if anyone else has heard of it?
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- #1456 of 3301
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Re: Pre-pay lease program? [jsarrett]
by steevo
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May 21, 2007 (8:50 am)
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Replying to: jsarrett (May 21, 2007 7:51 am)
Are you sure? Many banks allow prepaying to reduce the monthly..but usually the payments come off the back, like your last 9 months. But I don't see how you would get that back if the car was stolen or totaled. Unless the dealer is planning on holding your money for 27 months then giving it back to you to actually make the last 9 payments...He invests it in the stock market? I am sure you have been reading this forum. Is your deal as good as the best posted here? Are they offering you anything better?
Whats the details..price,monthly,down,term.etc..
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- #1457 of 3301
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Re: What do you think of these digits? [gregdole7]
by sprinkler13
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May 21, 2007 (10:17 am)
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Replying to: gregdole7 (May 18, 2007 6:56 pm)
do just a bit of searching in this forum and you'll see money factor and residual info posted. As for deals on coupes. I would think that you should be able to get them at invoice. I also think that there is $1500 manufacturer to dealer incentives...if so...then even at invoice the dealer will make $1500 so use that to your advantage. Edmunds posts the current incentives, so check there first.
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- #1458 of 3301
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Re: Just signed for 07 g35x [topgun7]
by sprinkler13
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May 21, 2007 (10:31 am)
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Replying to: topgun7 (May 19, 2007 5:44 pm)
All I was saying originally is that I have seen the BEST available financing numbers, and I have also seen dealers quote people lower residuals sometimes. Maybe they are quoting that rate so that they can get you to agree to a price...and then when they actually calculate it out on the paperwork they use the higher residual and then they can increase the cap cost so that they end up making more profit? You have leased many cars, so you of all people should know that dealers love to move around the numbers to their advantage...assuming that a person doesn't know any better.
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- #1459 of 3301
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Re: Pre-pay lease program? [jsarrett]
by sprinkler13
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May 21, 2007 (10:45 am)
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Replying to: jsarrett (May 21, 2007 7:51 am)
It actually sounds like he's talking about putting down extra security deposits...which you can put up to 9 total. If you put down extra deposits, each one equals a .0001 reduction in the money factor. While the difference in your monthly price doesn't seem as significant as if you put that money towards a cap reduction, the difference is that you get a reduced monthly payment, AND you get that money back at the end of the lease....unless of course you return the car with so much damage that they have to use some of the deposits to cover repairs. As for a 10+% return...when I was figuring my lease, I ran the numbers and I determined that on the $5k I put towards addl. security deposits, I would need to make over 10% per year on the money (if I kept it in the bank or investments) to cover the savings in cost the of my monthly payment over the course of the lease. What I actually ended up doing is borrowing the money from a home equity line and got it fixed at 7% for the length of the lease. The interest costs me under $30 per month to pay the minimum, but the monthly savings on my payment was around $70 I believe (can't remember exactly). So, I'm getting a tax deduction on the interest payment and basically saving an addl. $40 bucks a month on my car payment. Then at the end of the lease I get the security deposits back and just pay down the equity line. I even used a credit card to pay $5k of my down payment so that I could get the miles...lol.
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- #1460 of 3301
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Re: Just signed for 07 g35x [sprinkler13]
by jsarrett
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May 21, 2007 (12:22 pm)
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Replying to: sprinkler13 (May 21, 2007 10:31 am)
I have been given a 56% residual on a 39 month lease with 12k per annum. Is that an accurate residual on a g35x?
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- #1461 of 3301
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Re: Just signed for 07 g35x [jsarrett]
by sprinkler13
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May 21, 2007 (2:55 pm)
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Replying to: jsarrett (May 21, 2007 12:22 pm)
I have only seen posted rates for 24, 36, 48, and 60 months, so I can't really say what the best is for a 39 month lease. However, the best 36 month rate at 12k miles per year I've seen is 58%, and usually if you go to 39 months the residual drops between 1-2%. I think I've seen people saying they've gotten 57% for 39 months. Search thru some of teh posts here and see what others are mentioning for the G35x.
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- #1462 of 3301
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Re: Just signed for 07 g35x [jsarrett]
by bbenson5
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May 21, 2007 (9:41 pm)
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Replying to: jsarrett (May 21, 2007 12:22 pm)
I'm closing on a lease tomorrow and was told I could lease for 36 months with .0178 money factor and 57% residual or I could lease 39 Months with .0196 money factor and 56% residual.
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- #1463 of 3301
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How's my deal on the '07 G35 Journey??
by deeter
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May 22, 2007 (4:21 pm)
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I'm in the Dallas area where they can't keep the car in stock. I'm going after the Premium Package, Navigation, Upgraded (18") Wheels, along with the splash guards and cargo net (nominal). Here's the best, best I can find in the area:
--List $37,665
--Discounted price $35,509
--39 month lease
--15K miles
--55% residual
--money factor .00250
--due at signing $779.63
--monthly pmt $599.08
It seems high to me based on what I see on the board, however I'm assuming there are regional differences in pricing (was told to "take it" by Crest Infiniti). Where should I drive the negotiation further?
Thanks!! Trying to pull the trigger on this tomorrow morning.
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- #1464 of 3301
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Re: How's my deal on the '07 G35 Journey?? [deeter]
by castelino
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May 22, 2007 (4:42 pm)
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Replying to: deeter (May 22, 2007 4:21 pm)
I can't comment on your lease terms buy I'm negotiating a G35 Journey with Prem/Nav/Tech/Wood trim in TX targeting about 1100 over invoice. The deal isn't done so I'm reluctant to say who's giving that price, but I should be done by end of week if all goes well. Just another data point for your negotiation. I pinged all the TX dealers and got one on the phone to start negotiating and then the others joined in a little more. I started with Clear Lake in Houston I believe, but that's not who has the current low bid. Also, from what I can tell getting the right equipment and color combo here is still a problem.
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