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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
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2008 G35 4 door premium package no NAV $0 down $2,548 due at signing = (bank fee $795, destination $715, plus first month $348 +NJ tax 7%) $348 a month for 24 months was told to add NAVIGATION would be an extra $20 per month Is this a good deal? Let me know what you think Thanks!
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Replying to: jakebaby (May 03, 2008 5:03 pm) Dennis
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Just did the following lease deal in NJ for a 2008 G37 Journey w/Premium Package, Illuminated Kick Plates & Trunk Cargo Net: 39 month - 15k miles/year MSRP: $39,295.00 Cap Cost: $36,472.41 Residual Value: $23,577.00 Due at Signing: $1,700.00 [includes 1st mo pmnt, acquisition, docs & fees] Monthly Payment: $480.00 [includes 7% NJ sales tax] Hope this helps anyone in NJ. I thought it was a good deal. 
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Replying to: dwynne (May 03, 2008 7:45 am) Thanks for the response and recommendation. Reading through many posts, I understand the reasoning behind not putting a lot down up front, but the reason for me doing this is to convince IFS that I'm committed to the lease. Is it impractical for me to believe that putting a lot of $ down will give me a better rate (or if my credit is incredibly poor that I will get approved)? I'm willing to take the risk that you mentioned in your post in order to be able to lease a g37 later this year. |
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Replying to: raphster (May 03, 2008 1:30 pm)
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Replying to: dwynne (May 03, 2008 6:31 pm) What I still cannot figure out for the life of me is why the cap cost, mf and residual matter whatsoever at the end of the day. After all, practically, it is much easier I've noticed, to negotiate when you can show the dealer that you know what you are talking about. Once that stage is done and I can verify that the dealer is using the correct MF and resids I can be sure that the monthly should work out ok. But for someone that goes straight to monthly payments and seems to get a very low number, why worry about how much the car costs? Why should it matter? The only guess I've had is that one of the articles lists that if they overcalculate residual then the car will have inflated value at the end of the lease and that when you try to buy it it will be worth more than it really carries in value. But besides for the person who's buying their car at the end of the lease, why should anything but monthly payments matter except for negotiating purposes? Again I've read all the articles that are usually suggested, so I apologize for being a bit dense here. Thanks for your time. |
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G35 Black on Black Splash Guards Trunk Cargo Net Premium Package Performance Tire/Wheel Pk Navigation Package MSRP $38,025 Selling Price (CAP COST) $34,967 $485.99 to cover drive offs (It was previously 825.00 see my earlier post) 24m 12k miles $485.99 a month, (this includes tax) They emailed me today with the deal. I told them I would be there at 3:30. When I arrived I stepped out of my car and the salesman was there with the keys for a test drive. The car is amazing. I filled out the standard forms and had to wait 20 minutes to sign the final docs. This is my second car leased through this dealership with the same sales guy. If you want more info on the place let me know. Thanks again for all the input.
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Does anyone have any experience with, or has anyone heard anything about, the possibility of buying out a lease and then selling the car for profit? I currently lease a 2005 G35x with very minimal mileage (16,000). Infiniti has provided a buyout quote via my online Infiniti finance account in the range of about $21,500. I've poked around Carmax and it looks like similar cars are selling for $25,500 or so and Bluebook value is somewhere around $27,000. I'm thinking of buying a car when my lease ends (not an Infiniti), and was wondering if it would be worth buying out my lease and then trading in the car at a higher value to pocket the difference. Has anyone looked into this or done something similar? Something tells me that there shouldn't be a way to profit from this, but, after a small amount of investigation, the numbers seem to work out so far. Just wondering if it's worth looking into more. Any help would be appreciated. Thanks.
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Replying to: nick81 (May 05, 2008 3:58 pm) |
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Replying to: nick81 (May 05, 2008 3:58 pm) Here, it would be 7% so your $21,500 cream puff would cost you $23,005 and would wipe out any profit you thought was there. That said, if you are going to buy your next car and not lease, then in most states you get a tax credit for the trade - but you are not likely to get $23,005 trade in. Carmax has greatly inflated prices and only they can get those kind of numbers. If you took your car in to sell it to them they might offer $21k or something. You DO have another option besides turn it in or buy it, you can sell it to a car dealer if they will give you more than the buy out price. Say you took it to Carmax, Driver's Way, and the Infiniti dealer and one of them would go $22k on it. Then you could sell it to them and pocket the $500 profit and no tax would be due. The final option is to sell your car retail but do it through a car dealer that you either know (buddy) or pay a nice fee to. If you do that you can get a higher price even after paying the dealer and again no tax is due from you. Finding a dealer to do this "buy and bye" for a reasonable fee could be a problem, however. Dennis |
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