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Prices Paid: Buying & Leasing Experiences Infiniti G37 Lease Questions
4715 messages, Last post on Dec 06, 2009 at 2:10 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: kyfdx (May 16, 2008 3:43 am) Damage, Loss or Potential Loss of This Vehicle You are responsible for the risk of loss, damage or destruction of this Vehicle during the lease term and until you return this Vehicle to us as required above. If this Vehicle is damaged or destroyed in an accident or other occurrence or confiscated by any governmental authority or is stolen, abandoned or subjected to potential loss, you will immediately notify us and we may terminate this Lease pursuant to the terms of this Lease. If this Vehicle is stolen (and not recovered) or destroyed, we will accept insurance loss proceeds in full satisfaction of your early termination liability if you are in compliance with the following: 1) your insurance obligations under this Lease are satisfied; 2) your policy covers the casualty and you have paid the deductible required by the policy; and 3) your Lease is not in default. If the insurance loss proceeds exceed your early termination obligations, then the excess will not be refunded to you. Any capitalized cost reduction made by you will not be refunded in the event of a total loss. If you owe any past due payments or other amounts under this Lease, we may use your security deposit to offset such amounts. and this part: Security Deposit We may use the security deposit to offset any amounts that you owe under this Lease. If you perform all of your obligations under this Lease, the security deposit will be returned to you at the end of the lease term. No interest, increase or profits will accrue or be due to you. We have no duty to segregate the security deposit and do not have a fiduciary duty to you in regards to the security deposit. The key phases to me are "if you perform all of your obligations" and "returned to you at the end of the lease term". Clearly, if your car it stolen or totalled you will not be able to perform your obligations (return the car is proper shape) and it will not be at the end of the lease term. They also say if they are overpaid for the car, then too bad for you. So even reading the contract it is clear as mud, so (again) unless you get it in writing from IFS what happens to the MSDs in the even of a total loss then I would not use that option. Dennis
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Replying to: helices (May 15, 2008 7:15 pm) That payment was a little high because I rolled two payments from my 05 G35 lease into the new lease. I learned my lesson this time. I got 12K miles per year(I was 16K under my allotment last time) and I did 36 months instead of 39 months this time.
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I am about to lease an 08 G35 w/premium & sport package through the VPP plan. The dealer is offering the car for $33800 and I am putting $2100 down (I know not to but the wife wants payments below $400). To make a long story short payments will be $381/mo. for 36/mo. The problem is that the initial price was $32708 and payments were $369/mo. The salesman's contention is the price of the car went up once he discovered it has some dealer add ons (pinstriping and wheel locks, neither of which I care for). The deal is awful tempting my wife is trying to draw a hardline but I haven't seen any pricing this low. Any thoughts?
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Replying to: dcdubya (May 16, 2008 12:46 pm) By the VPP "rules" the dealer has to sell you the car at the VPP price and show you that on the invoice - but they can also charge you their normal doc or prep fees and can charge you for any dealer installed options. My advice would be to tell them you are not paying for the dealer add ons - do the deal for $369 as stated (actually ease off on the money down at let the payment rise to $399). For sure if they are charging you a doc fee on top of the VPP. Find a dealer that has little or no doc fee and no dealer add ons and you can save yourself some money. Hold the phone, I just checked the invoice price (current). On an 08 G35 journey with sport pack and premium pack and nothing else the invoice is $34,418 including destination or $33,653 without it. No way on VPP plan C or D could they do the car for $32,708. VPP C or D price would be $33,925.17 w/o dest and $34,690.17 with it. This is with the latest prices and $765 dest, and older production car may have a lower MSRP and the $715 destination charge. So $33,800 for plan C or D for a pre price increase car should be about right. Just ask to see the invoice - it has the VPP pricing right on it. Anyway, if the doc fee is not too high then the price should OK the way I figured it. I would still ease off on the money down and let the price rise to $399.99 . You will have less money in the car and your wife will still be happy. Dennis |
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| I'm thinking of going for the G35x, features are not too important at this point. I have a finance that I would like to liquidate in the deal but I'm about $6000 in negative equity according to initial numbers. What would be my best approach given the circumstances. | |
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Replying to: helices (May 15, 2008 7:15 pm) Invoice -- will NOT say 24 months Sales Price $37995 Residual 71% Money Factor 1.310 Monthly $619.93 36 months Sales Price $37995 Residual 61% Money Factor 1.720 Monthly $579.47 39 months Sales Price $37995 Residual 60% Money Factor 1.720 Monthly $553.47 This includes 8.0% Cook County sales tax. Check at signing is: 1st month + $175 doc fee + $143 plates OK, remember that I am a newbie with this. What do you all make of these numbers? Best Regards, helices
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Just leased a new G37 Coupe Journey with Premium and Nav, 24 months, 12k miles/ yr, $3000 down, all maintenance included, $385 + tax / month. Very happy, very nice car, and buying through the internet process was quite smooth... |
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Replying to: dwynne (May 16, 2008 12:11 pm) Dennis, i'm not sure if by satisfying the payoff you are still in default of the lease obligation. I will have to call IFS and get more information. |
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Replying to: mpgxsvcd (May 16, 2008 12:29 pm) How long do you have to cancel a lease in North Carolina. I don't really want to return the car but I will fight for that 1%. He told me he was calculating the residual based on 60% and then he used 59% which I am sure IFS would not be happy to hear about! That number is supposed to be set by them.
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Replying to: mpgxsvcd (May 16, 2008 6:08 pm) That said, the dealer can't change the residual. It is set by the lease bank and the lease will not fund if they put in the wrong amount. So if they told you 60% and the number is really 59% then you are stuck as long as they used 59% on the paperwork. If they made a mistake then the lease will not fund with IFS and the dealer will be contacting you to come back in a sign a corrected lease contract. What could have happened: Your lease contract and residual is based on the car you picked out. Due to price increases this could make it appear the wrong residual was used. Use the MSRP on the window sticker of the car and see how that compares to the residual. Say the current MSRP is $38,000 so you expected to see $22,800 as the residual. You see $22,420 as the residual and think they figured wrong, but that could be 60% of a lower sticker ($37,367). They could also allowed 15k miles per year rather than 12k, but that would also be listed on the lease. Dennis
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