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Prices Paid: Buying & Leasing Experiences Infiniti G35 G37 Lease Questions
3406 messages, Last post on Jul 24, 2008 at 1:51 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: jpasiczn (May 12, 2008 6:20 pm) If you simply figure the difference between selling price ($36,000) and residual ($26470.50) you get $9,529.50, divide that by 24 and you get the principle payment of the lease at it is $397.07 per month. So your payment is way off. Depreciation Fee = ( Net Cap Cost – Residual ) ÷ Term Finance Fee = ( Net Cap Cost + Residual ) × Money Factor Payment = Depreciation Fee + Finance Fee Dennis
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Replying to: dwynne (May 12, 2008 4:42 pm) Truly appreciate your help. I think you helped me correct my own stupidity. First, apologize for not including the details as I was more using those numbers as an example rather than what I was working with. But in this case MSRP was $40575 and price from dealer was $38985 including destination. I haven’t confirmed invoice but the dealer said $37245. Like I said they were high. But using your example of MSRP of $38,030 and CC of $35,700 I redid my work and found that I was way off. I wrote a formula in Excel to help me when I get the numbers back from the other dealers I’ve requested quotes from. I was quoting at 36 months and had my base data entered that way. Turns out when I went to compare the 24 month payments, I adjusted the residual and the MF but was asleep at the wheel and left the number of months to at 36. So I was dividing the MF at 0.00131 and residual at 70% by 36. And today is only Monday? Anyway…apologize for the stupidity. I reran my Excel formula using your example above and came up with the following: 24 month $459.93 and $482.93 with tax 36 month 445.61 and $467.89 with tax Which are very close to your numbers. So I now see that a 24 month lease is does cost more each month. Which is what I read before and looking at it, now makes sense. Your information on the dealer installed options is a good one. I was looking at the sticker on the car with MSRP but I guess the dealer is free to install whatever they want after the fact and drive the price of the car up. I will keep the dealer option in mind. Also, as I said I didn't really question or call them on it but I did ask the sales guy what the rate was and if they marked it up and he either played dumb or honestly did not know if they marked up the MF. I asked him to find out what the MF rate was and he called the finance person who responded with a 0.00170 and a 62% residual for a 36 month 10k lease. Again I told them I was tier 1 so they couldn’t have adjusted for credit, so I can only assume they mark up the MF. I left it at that and decided to shop around before asking them anything else on it. I’ve contacted a few other local dealers tonight and asked for the MF, residual, prices, destination, bank and prep/doc fees to be broken out so I’ll see what I get. And your information on selling the car is an interesting one. I still owe on the car and have never sold a car I did not own outright. Honestly I wasn’t looking for the hassle but based on the prices offered to me for the 325xi by this dealer I may have to. I also didn’t want to include the trade too early in the deal as I wanted to focus on price and rates first. I will look into CarMax an DriversWay to see what they are about. Really appreciate the information and help. Thanks again Dennis! -S |
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Replying to: sonofjay (May 12, 2008 8:18 pm) my 2 cents. 
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Replying to: dwynne (May 12, 2008 7:20 pm) I didnt mention that I am putting 2500 down. I reran my program with no money down, and our numbers match up. So throwing in 2500 down brings me to a payment of 370+tax=382. MSRP= 37265 Selling Price 36000 2500 down Net cap 33500 Residual 26530 24 month term MF .00131 7% tax 382 with tax. I hope im doing that right, Can anyone confirm before I walk into the dealer with these numbers in mind? john
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Does anyone have the current IFS May residual and money factor rates for a G37 Journey? I've found conflicting #'s from a couple of different sites. I'm in the process of leasing the G37 between now and July. I know it's impossible to predict the future, but does anyone have any insight on what we can expect the residuals and money factor rates to do over the next two months?
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Replying to: jpasiczn (May 13, 2008 5:11 am) 
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Replying to: sonofjay (May 12, 2008 8:18 pm) Help
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Replying to: jpasiczn (May 13, 2008 5:11 am) Good Luck. |
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Replying to: gforce11 (May 12, 2008 8:57 pm) Thanks though. -S |
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Replying to: gipsy (May 13, 2008 7:02 am) |
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