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Prices Paid: Buying & Leasing Experiences 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
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ALCON: I have been reading this FORUM for about a month now. I decided to join the forum since I'm looking to leae a G35x. First off, I'll apologize for the lengthy message about to follow. I'm active Air Force currently stationed in Korea right now. I'm headed to Bolling AFB in Washington D.C at the end of this month. After hours of reading thru this forum for knowledge, since this will be my first lease experience, I decided to send e-mails to the DC/VA/MD area this past Saturday. Since I've always gone in to haggle with the dealership for hours when purchasing a car I thought it would be the same for using the internet. Well boy was I wrong. I recieved e-mails right away from dealerships saying they would accept my asking offer. I asked for a 08 Plat Graphite G35X w/ Nav & Prem pack. I added cargo and splash guards to the Invoice since everyone said they are on most of the cars already. That gave me an Invoice of $36,297. So my offer stated to each dealer that I wanted the above car for $36,500 (all fees) minus Tax & Tag "out the door". Well I had three dealerships come back saying they could do it, when could I come in to close. I had a 4th dealership that I mistakenly sent an offer to that had the "TECH" Nav, Prem package on it. I was floored to recieve an e-mail back saying they could do it for $36,500 when the Invoice on that is $37,245. Get this, the general manger of the dealership is the one that replied back to my offer unlike the other dealerships where the internet sales mangers replied. Well now I reply back to each of the dealers telling them my situation with the military, like I did in the beginning of this book. Everyone came back saying that was no problem, they would hold the car for me if I commited to making a deal with no deposit to hold it. The one thing they asked was would I fill out a credit app. so they could send me all the numbers to get a solid deal. I personnaly called the general manger of the one dealership (Infinity of Tyson's Corner, VA) that was offering me the "TECH" option as well and asked how he was able to offer me that deal. He told me because he had $500 in dealer cash to apply to it. Also because he felt like I would pass this on to my military family and bring him more business as well as mine. I told him how shocked I was to get a reply from him, he told me he replies back to maybe 3 or 4 internet inquiry's a month when time allows it to stay in touch with where he started in sales. LUCKY ME!!! So here we are a day later with me typing this post. I'm not scheduled to get to DC until 26 Mar. Do I go ahead and fill out the credit app with Tyson's Corner and see what he offers me for MF (thinking that's where he's going to try and make a profit). My FICO scores are all in mid 700's if what I have read is right I should be Tier 1 at least, I've financed and paid off two cars and have a current loan open for my wife's Honda. Now finnally the last 4 questions: 1. Do I go ahead and make the deal if he offers me the true MF for 36mths/15K of .00160? How could I not are my thoughts. 2. What if he raises the MF? How high should I allow him to go since I'm already well below Invoice. I wouldn't have any heartburn about it if it's not ridiculous. 3. What do I do about the other dealers.? Do I go and tell them what he's offering me? Can they match or beat it? I didn't recieve any hassle from the other 3 dealers but not sure which way to proceed. I didn't ask them about adding the TECH package yet either. 4. Do you have any words of caution? This whole process seems too easy and almost too good to be true pending what my MF is. No treads to gain insight on this type of situation...LOL The GM assured me there wouldn't be any Doc,Bank or whatever fees that would raise the NET Cap cost over $36,500 with no money down except for first month's payment, tag and tax for MD. I stressed that to the other dealers as well and they said no problem. Once again I apologize for the book, I had to make sure I gave you all the facts so I could recieve the best adivce. PS....I can't image where I would have started with the lease of this car w/o this FORUM... I love it!! Dennis or Car Man, could you do up the payments for me on this Maryland taxed lease assuming 36mth/15K MF .00160 RD 60%. I want to make sure the lease calc I used is right. Thanks again to all that contribute to this FORUM!!!!
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These are the last numbers that I just got from my dealer in NY for 24 and 36mth lease with 12k/yr. A sign and drive lease (Zero due at signing): MSRP $37,235 Cap Cost $34,598 MF 24mth .00142 36mth .00160 Residual 24mth 69% 36mth 70% Inception Fees (rolled into payment) - $2796 (bank fee $595, NY sales tax 8%, 1st pmt, tire fee and inspection) 24mth lease payment = $521 36mth lease payment = $499 Do these #'s sound accurate? Can I do better or do you think this is the best I can do? |
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Replying to: daviddot (Mar 03, 2008 11:19 am) 
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Replying to: oz44 (Mar 04, 2008 3:43 am) First of all, congrats on finding a dealer who is offering you such a great deal. Here's my suggestion: get the dealer to confirm the money factor now, "on approved credit," before you fill out the credit application. In my experience, dealers will willingly tell you the money factor up front before your credit is checked. Also, make sure that they quote the residual value for you up front. If you don't have that pinned down, they could make up some of the money they are losing on the selling price by using a lower residual value, which causes your payment to increase. What you want is a firm quote that includes MSRP, selling price, money factor, residual value, monthly payment, and an itemized list of ALL the various fees. Once you have a firm quote, go to http://www.leaseguide.com/calc.htm and plug in all the numbers to double-check the dealer. Assuming the calculations are right, my advice would be to just relax and look forward to your new car, which I guarantee you will love. If I were you, I would just wait until I got back to the U.S., maybe the day before or day you are ready to buy, to fill out the credit application. That way, if you change your mind or something else comes up, your credit report does not show any unnecessary applications. In the unlikely event the dealer tries to pull a fast one on you when you get there on the 26th, you still have three other really good "backup deals." Best of luck.
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Replying to: sdjdguy (Mar 04, 2008 10:36 am) While you can get pre-approved online at the IFS web page, you don't know what tier they place you in (if there is a question). This gives the dealer the upper hand if they give you a high rate and tell you that is what you qualify for - that could be the truth, or they could be just jacking up the rate on you. Any dealer that normally discloses the "buy rate" for top tier lessees is probably one that is not going to mess with you. If you ask, some dealers are quite open about how much they mark up the rate. If a dealer tells you that you have to "come in to the dealership" to get the rate I would just take them off my list completely and dealer with better dealers. You have to submit a credit app to get approval and so the dealer can give you a money factor - no way around it. No sense in planning on a lease at one rate, waiting until the last minute to submit an app, then finding out you don't qualify for the rate you planned on. A couple of inquiries on your account are "nothing" and anyone with a good credit rating should have no problems with have a few on there when car shopping. New ACCOUNTS do count against your score not checks not so much. If someone's credit is so marginal they can't stand a couple of inquiries they should forget about leasing a new car and get their credit in order. Dennis
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Replying to: dwynne (Mar 04, 2008 11:23 am) .
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Replying to: sdjdguy (Mar 04, 2008 3:57 pm) |
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Hello guys, I really need someone's help regarding my new lease of 2008 g37. The lease is for 24 month and 12k a year. The car is G37 auto w/ journey, sport, premium, splash guards, illuminated kick panels. Total MSRP is $41,695. I honestly do not know the selling price at the moment, but I was given a quote of total $3000 out of pocket and $450 per month (including Philadelphia 10% tax). Lease is for 24month/12k a year. Is this a good deal or the dealer is trying to rip me off? Please, I need advice because I have to turn my current g35 in by Saturday.
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Replying to: sdjdguy (Mar 04, 2008 3:57 pm)  . I never said he had to apply now for credit, just that you were perpetuating the myth that too many hits drastically lowers your score. For sure you want to apply before making a trip to the dealer to get it locked in and of course once you decide what you want to get - you think. I never said apply to every car maker and every dealer "just in case" and to do it 3 weeks early. They have to pay to pull your credit, so whenever you let them do it they will use that same report a bit later to OK your deal. So you day do it a week early or a few days or even the day before, but you need to have the dealer pull it and give you the top tier OK before bothering to hit the lot. We post the lease buy rates here every month, so all a prospective lessee needs to do is simply ask for the rate and confirm they are being offered the buy rate. They can also ask if the rates are marked up they want to - and while they are at it ask what the dealer doc/prep fees are (if any). Any e-mail or phone quote you should always make sure you are being price the car with destination and any dealer fees included. "Forgetting" the destination and/or the dealer fees is an easy way to get someone on the lot and then drop the fees on top of the deal to make back all the profit you thought the dealer would not make on your deal. Having a low net cap makes for a nice lease, as long as the dealer is not expecting you to pay $5k at signing or something. So that has to be asked about as well and nailed down so no surprises. Any dealer that will not disclose the lease rate to you over the phone/e-mail or says you have to come onto the lot to get any information should not be used. In this case, I would make sure all of this was true and if so then ask about the availability of the car - is it just this single x or any on the lot similarly equipped? It may be time for them to send over an detailed list and put down a deposit. If everything is true, and the buy rate is offered but only on an in stock car, then putting a deposit on it to hold it until month's end may be warranted. If they do not come through as promised they can't keep your deposit and I think in most states any deposit if fully refundable anyway. Dennis
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Replying to: v12alp (Mar 04, 2008 7:46 pm) I also would not put $3k into a lease, you want to pay at most the first payment and perhaps tags/title and maybe the bank fee at signing. Keep your money in the bank and not in the lease. Dennis |
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