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Infiniti G35 G37 Lease Questions

3309 messages,  Last post on Jul 08, 2008 at 7:19 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

What is this discussion about? Infiniti G35, Infiniti G37, Car Leasing, Coupe, Sedan


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#1881 of 3309
Re: my offer [paulpoteat] by jjlawyer
Sep 02, 2007 (7:13 pm)
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Replying to: paulpoteat (Sep 02, 2007 7:01 am)

None of your reasons are good for putting down money on that lease. If it is stolen or totaled, you will loose that money. Gap insurance is included the lease but will pay off (only to the lessor) the remainder of the lease payments and pay off if your insurance values the car at less than that amount. Gap insurance will not refund you any money. All you are doing by putting down that $5K is releaving the gap insurer of paying that amount to the finance co if the car is a total loss.
#1882 of 3309
Re: my offer [jjlawyer] by kyfdx HOST
Sep 03, 2007 (6:08 am)
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Replying to: jjlawyer (Sep 02, 2007 7:13 pm)

1) My wife is obsessed with the monthly payments looking like what we're used to paying for a car
 
I thought that was a pretty good reason..
#1883 of 3309
Re: my offer [kyfdx] by paulpoteat
Sep 03, 2007 (9:40 am)
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Replying to: kyfdx (Sep 03, 2007 6:08 am)

While I thought doing-what-my-wife-wants made the most sense, once I told her we'd take a big hit if the car were stolen she told me to do what was right. That said, i just signed the paper work and here's the deal.
 
2007 Infiniti G35X
Black/Black/Premium/Navigation
MSRP: $39265
MF: .00207
Down Payment: $1095
Net Cap: $35873
Residual: 57% ($22381)
Terms: 39 Months
Miles: 12k/year
 
Total due at signing was $3940 (down payment, first month, bank, tax up front, wheel locks, etc.)
 
Monthly: $466
 
In what was probably a rookie move I added factory wood for $312 (39*$8) making the monthly $474. They would have given me the wood for free if I took the showroom (Blue Slate) but I wanted the Black/Black.
They didn't have the exactly car in stock but expect it in 2 to 3 weeks.
 
Just wanted to thank everyone for the knowledge dump, especially "Kevin". I learned a ton.
 
In case anyone is looking for a similar car, I didn't fudge any of the numbers. I had them show me the break down (MF, residual, sell price, etc.)...just had to ask once.
The sell price was $36969...which was $2296 under MSRP which I thought was fair.
 
The only thing left for me to do is let my wife know
Also, I'm pondering the alarm/tint/remote start pacakge for 1k. I've had a remote start on every car I've owned but it annoys me it doesn't work on the way home (pulling into the station my car is too far from the train). I like the tint for my son (the sun manages to shine in his face no matter what I do). The alarm...egh, I don't really care about. The deal was alarm and remote for 1k, free tint. I'll give it some thought.
#1884 of 3309
Re: my offer [paulpoteat] by scottm123
Sep 04, 2007 (5:15 am)
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Replying to: paulpoteat (Sep 03, 2007 9:40 am)

If that's all dealer installed, 1K is a bargain.
My dealer wants $700 just for the car starter. It requires the purchase of an additional keyfob which gets installed in the dash.
Your existing keyfob starts the car, with the use of the lock button being hit twice.
The lock button has a remarkable range, so that may work for you.
The alarm, I agree... eh.
I actually want an alarm, but not the 'pos' the dealer installs. I'd want something with GPS and they beep/txt message you if the car is moved or fondled in any way.
 
Tint, my dealer won't do.
They're in RI where it's not legal.
I'd only allow tint after knowing exactly what materials are being used, who's doing the install, and how it's being done.
 
That package for 1K is a good deal.
You just need to decide if you want it.
#1885 of 3309
Re: Done Deallllll [taltek] by sprinkler13
Sep 04, 2007 (1:56 pm)
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Replying to: taltek (Sep 01, 2007 5:30 pm)

From what I can tell on that other lease there is about a $1200 cap reduction, so his sell price is actually more like $600 or so over invoice...which isn't as good as VPP. Also, he only needs 10k miles per year so that helps lower the price as well. If he were to not pay the cap cost up front, the payment would go up about $36/month (these are all rough numbers). Also, I don't think that his monthly payment included tax...but I can't say for sure. I just plugged in his numbers and got a pre-tax payment of $450/mo. I hope this helps.
#1886 of 3309
Re: my offer [paulpoteat] by sprinkler13
Sep 04, 2007 (2:03 pm)
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Replying to: paulpoteat (Sep 03, 2007 9:40 am)

My question is if you only put down a $1095 cap reduction, how did they come to $3940 for a down payment? Typically, the cost for 1st month, registration, BANK fee, up front tax, doc fee, etc. should be around $1500 or so. Now lets say you add $1100 cap reduction that's still only $2600...where is the other $1300 going? Did you have to pay the total tax upfront (for the full 39 months)? or just the first month's tax? Also, if you were getting so much back for your trade in and were prepared to put it as a down payment...did you ever consider putting down multiple security deposits? It is a good way to lower the money factor and the deposit is fully refundable at lease end.
#1887 of 3309
Re: my offer [sprinkler13] by paulpoteat
Sep 04, 2007 (5:19 pm)
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Replying to: sprinkler13 (Sep 04, 2007 2:03 pm)

On top of the $1095 cap reduction I paid everything else up front (including total tax).
 
As for the down payment...
1) I said I "hoped" to pocket 7k...I haven't sold it yet. I need it until I take delivery.
2) NY, from what I think I read on this board, doesn't allow multiple security deposits
 
Anyone want to by a used Altima on Long Island
#1888 of 3309
So does anyone have an opinion on my deal? by g35flooded
Sep 05, 2007 (6:37 am)
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24 MONTH LEASE (10,000 MILES)
2700 DUE AT SIGNING (FEES,CAP, TAXES AND FIRST MONTH PAYMENT)
MSRP -37,465
INVOICE - 34,528
SELLING PRICE - 33,898
NY SALES TAX - 8.375
RESIDUAL - (BOOK) 67% (NET) 68%
MONEY FACTOR - .00169
MONTHLY PAYMENT - $450.00
 
This is for the G35 SEDAN AWD WITH PREM. PACKAGE.
 
I finally got the car yesterday and I asked for sirus and got XM... Not to happy about that but they said they will switch it out when the time is good for me. They said they will actually come to my house and pick it up, replace the sat. radio then drop it back off which is fine. Still an inconvienence though. I asked for the wheel locks as compensation and they said that would be fine. Also when I got home I noticed there wasn't an instruction manual in the car... Gonna have to ask for one when they swap out the stereo.
 
As for the car itself I LOVE IT!! I'm kind of regreting not getting into a 39 month lease becasue it would have been a lil cheaper monthly but the res. was higher so if I choose to buy it I would have paid more at the end of the lease. I'll probably just extend it the 6 months and debate if it's worth buying out or not. The buy out is somewhere in the $24's (i dont have the paperwork in front of me) and i calculated that and my payments for 2 years plus the tax and it all comes out to $41,000 which is way more than the selling price of the car.
 
Overall I am very happy with the way the car handles and drives. And the power is amazing. I'm coming from a 03 g35 coupe and I feel a tremendous difference. The way the car "grips" the road on turns is really impressive. The only thing I miss is the loud engine but those days are behind me now.
 
And I love the system and the bluetooth!!! Def. worth the $15 a month difference. You were def. right Dennis!
#1889 of 3309
G37 lease - Is this a good deal. Can't find topic by choosinu
Sep 05, 2007 (12:44 pm)
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Please see terms from dealer in So Ca.
 
Cap Cost Reduction: $2,025.59
Documentation Fee: $45.00
Sales Tax 8.250% $167.11
1st Month Payment: $455.55
License Fees: $298.00
Government Fees: $8.75
TOTAL DRIVE OFF: $3,000.00
CASH DUE ON DELIVERY: $3,000.00
 
Value of Vehicle + AMO's: $35,807.00
Gross Cap Cost: $36,402.00
Cap Cost Reduction: $2,025.59
Adj. Cap Cost: $34,376.41
Residual: $27,824.90
Depreciation: $6,551.51
Rent: $2,285.85
TOTAL OF BASE PAYMENTS: $8,837.36
# of Pmts: 21
Base Pmt: $420.83
Monthly Tax 8.250% $34.72
TOTAL PAYMENT: $455.55
Vehicle Price: $35,807.00
Acquisition Fee: $595.00
GROSS CAPITALIZED COST: $36,402.00
AFTER MARKET OPTIONS
TOTAL TAXABLE: $0.00
TOTAL NON TAXABLE: $0.00
GOVERNMENT FEES
#1890 of 3309
Re: G37 lease - Is this a good deal. Can't find topic [choosinu] by delta737h
Sep 05, 2007 (3:01 pm)
Reply

Replying to: choosinu (Sep 05, 2007 12:44 pm)

Marianne,
 
Can't really say whether or not you have a good deal. Looks as though you may have paid close to MSRP which may or may not be bad depending upon supply/demand considerations in So. Cal. Edmunds lists the TMV = MSRP for both the Journey and Sport models.
 
The info you provided is great which you likely got from the lease contract. However, there is still some info missing...
 
G37 what??? Journey??? Sport??? The Journey's MSRP is about 35,700 and the Sport's is around 36,300. The Base model is even less.
 
MSRP?
 
Money Factor? I computed 0.00175. If so, is this the buy rate (i.e., without reserves)? Reserves is what the fund provider pays the dealer as an incentive to write the lease at a higher rate. For instance, a reserve level of 1% means that the fund provider pays the dealer 1% of the adjusted cap excluding the acquisition fee. In your case, that would be 1% x 35,807 = 358.07 IF the reserve level was indeed 1%. The buy rate or base rate is that rate with a 0% reserve level and is, therefore, the lowest and best rate that you can get from a particular fund provider.
 
What does AMO mean???
 
And, why would you put money down on a depreciating asset? If you total this car (God forbid), it's not very likely that you'll recover all of your $2,025.59 cap reduction. A money factor of 0.00175 equates to an interest rate of about 4.2%. Seems to me that you would have been much better off banking that money and using it to subsidize your lease payment if necessary.
 
John

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