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Prices Paid: Buying & Leasing Experiences Infiniti G35 G37 Lease Questions
3698 messages, Last post on Oct 06, 2008 at 8:14 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: montydee (May 15, 2008 8:25 am) Reason being the security deposit is there to make repairs at lease-end. Since the car is totalled or stolen, there are no repairs to make. The leasing company is made whole by the insurance company. They have no cause to keep the security deposit. You don't save any sales tax because tax is based on the purchase price or depreciation amount (depending where you live) and is therefore calculated before the cost of the money (money factor) is added in.
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Replying to: qbrozen (May 15, 2008 8:36 am) Lease car for $40K... making $4K in MSDs One month later, car is totaled. Insurance company values car at $35K. IFS says payoff is $35,500... ($39,500 - $4000 security deposit) Shortage of $500 covered by GAP insurance. $4000 in MSDs gone. Call your insurance agent: "We paid fair market value for the car, what you owe on it is not our concern". (no diffferent than if you had a loan) Call GAP insurance carrier: "We cover the difference between what the insurance company pays and what IFS says you owe." Call IFS: "Your security deposits are security to make sure we get paid. That's what we used them for." Of course, the last statement from IFS is the sticky one... You know and I know that isn't how it is supposed to be structured, but when there are three other parties involved, the buck can be passed, indefinitely.. Now... IFS or your dealer aren't going to look for ways to keep your deposit when you turn your lease in, at end of term.. You'll owe what you owe, regardless. But, in the event of totaling your car, I wouldn't bet on getting them back. That doesn't make it right.. and this might not ever happen, but I don't think you'll find anyone at IFS that will guarantee that for you. regards, kyfdx |
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Replying to: qbrozen (May 15, 2008 8:36 am) If you live in a state that just taxes the monthly payment each month, then you'd definitely save money, if the payment is lower... regards, kyfdx |
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Replying to: kyfdx (May 15, 2008 9:00 am) He called IFS and his insurance company and reported: Only small warning to include (I spent several hours on the phone with IFS and my insurance company to get a definitive answer) -- just as in the case with a cap reduction, if the car is totaled, the deposits are not refunded. You mention in the post "in the event of a total loss your insurance satisfies the lease bank" -- which is what I thought when I decided to investigate this option before signing my lease in 05. I know this does not make sense (the bank is satisfied), I know it's counterintuitive, but unless you can get something in writing from IFS, I would stay away from this option or at least consider the extra risk. So unless I had something in writing from IFS to explain how and when the MSDs would be used and not refunded *I* would not want to risk that much money. Dennis
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Replying to: sonofjay (May 14, 2008 9:51 pm) In answer to my own posted question above regarding the differences in edmunds.com and carsdirect.com, now that I see it I recall reading on here about it, the reason for the difference in price is a price increase. MSRP (base) from $34,350 to $34,750 ($400) Destination from $715 to $765 ($50) Splash guards from $150 to $155 ($5) 400+50+5 = 455 (which equals the difference in MSRP prices I was given by 2 dealers). Which was $40,180(dealer 1) - $39,725 (dealer2) = $455 Bottom-line edmunds.com has old price and carsdirect.com has new. One of the dealers is quoting new price price, the other the old price. Thanks -S |
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Replying to: sonofjay (May 14, 2008 9:51 pm)
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Replying to: dwynne (May 14, 2008 10:57 am) Another issue I was wrestling with was about how well the G35 held up over a longer time horizon. It is nearly bullet-proof over a three or four-year term. I was not so sure about how it fares over 7 or 8 years. If it held-up really well, it would make sense to buy my car at the end of the lease -- there is no way I can get this combination of power, handling, and comfort for 21k! On the other hand, I will eventually have to downsize and economize as I approach retirement -- so enjoy while I still can!  In any case, like you said, waiting and watching is prudent. Thanks, again. Raj |
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Ok, so one last time - a good deal right now is to negotiate the dealer to $500 above invoice price. Is this $500 above invoice including the cost of the car, destination charge, bank fee, dealer acquistion and other costs all rolled into one? Or is this just for the cost of the car plus destination charge? If someone could explain what exactly I should expect to negotiate into the cost of $500 above invoice it would be greatly appreciated. Also if you can tell me what other fees I can expect to pay(ie... license, tax, etc). thanks.
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Replying to: ajb723 (May 15, 2008 11:23 am) What you have to do is pick out the car you want and note the MSRP and build date. If it is a recent production car the MSRP should match what you see at carsdirect.com and the Infiniti page. If so, then the invoice shown should be correct. If the MSRP of the car you pick is less, then it is an older production car. What I would do is take the price different at MSRP and subtract if from the current invoice. That should be close enough to the actual invoice. Dennis |
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Replying to: skmiller22 (May 15, 2008 11:53 am) Invoice = published dealer invoice for the car INCLUDING destination charge. Dennis
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