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Prices Paid: Buying & Leasing Experiences Infiniti G35 G37 Lease Questions
3625 messages, Last post on Sep 06, 2008 at 10:24 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: athens (May 18, 2008 6:14 pm) Infiniti NA is offering 1.9% financing for 36 months/ 3.9% for 60 mos!!!!!!!!!!!! Where do you get your prices from? a 6 year old vehicle for 20k? You can ask, but you will never get a buyer. You will be lucky if you get $12k-$14k. If you are using Kelly Blue Book the prices that are reflected there are not accurate market values. Dealers use NADA which is a better indicator of market value and auction value of vehicles. I just ran an Edmunds valuation report on a 2003 G35 with most of the options available at the time without navigation, and the trade in value is under $13,000 with a private party sale of $14,000. That's a 5 year old vehicle. |
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Replying to: sonofjay (May 18, 2008 7:09 pm) I'm not sure if these are the accurate lease and residual rates. Dwynne had posted rates earlier in the month, and his numbers were different than those posted in the link you provided. I'm inclined to believe that those rates posted by him are accurate because i confirmed the rates on the G35X with a couple dealers. G35 Journey: 24-69%-.00126 36-59%-.00150 39-58%-.00173 G35 6MT: 24-68%-.00126 36-58%-.00150 39-57%-.00173 G35 AWD: 24-70%-.00131 36-60%-.00150 39-59%-.00172 G37 Journey: 24-71%-.00184 36-61%-.00192 39-60%-.00190 G37 6MT 24-73%-.00184 36-62%-.00192 39-61%-.00190
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Replying to: helices (May 18, 2008 5:53 pm) It's hard to figure out know without knowing the invoice price. (if it was old pricing or new pricing). But it looks like your money factors are off. http://ridewithg.whitecarrot.com/index.php/2008/05/may-2008-lease-rate-for-08-in- finiti-g35g37/ According to the link above your MF should be like those below and if they are no then the dealer must have marked them up. 2008 Infiniti G35 X Sedan 24 Month/12k miles/yr – Residual 71% of MSRP – .00131 Base Rate 36 Month/12k miles/yr – Residual 61% of MSRP – .00150 Base Rate Of course take what i say with a grain of salt as I just go into this forum 2 weeks ago and will be leasing for the first time shortly. |
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Replying to: brodway (May 18, 2008 7:35 pm) Maybe I missed something..... but are these rates not he same as the ones on the page I linked to? I've looked at them again and they look the same to me. Unless I'm having a bad day the only difference I see are for the residuals which is expected as Dwynne's numbers are for 15k and the other were for 12k. I can edit the previous post easy enough to point to Dwynne's posted rates though.
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Replying to: brodway (May 18, 2008 7:08 pm) I'm not sure $4-6k is accurate, but if you look into the G35 owners manual there are certain mileage thresholds that require maintenace. If you think you can go 72,000 miles and not spend at least $1,500 in maintenance costs, i don't think you are taking good care of your car. When you take the real resale value of $12-$13k of the vehicle and add in the added $1,500 in expenses and then add the time value of $40,000 over 6 years, i can guarantee that your true cost per mile will exceed that of leasing. The real scenario should look something like this. Purchase price 40,000...Resale of vehicle after 6 years with 72,000 miles $13,000. Added Maintenance Over 6 years...$1,500. Actual Cost per mile over 6 years. $.40 per mile. Time value of $40,000 over 6 years at 5% per annum over $6,382. True cost of ownership in cost per mile $.484 cents per mile. |
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Replying to: sonofjay (May 18, 2008 7:48 pm) |
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Replying to: athens (May 18, 2008 6:14 pm) Regarding the cost of maintenance, I used what Edmunds has on the True Cost To Own section. Regarding insurance, you should look into that. My insurance agent told me that the cars are MUCH safer today then even 3-4 years ago. It is not the fact that a 2003 car would only cost 15k to replace vs. a 2008 at $28k, but if someone is disabled you are looking at a Million $'s regardless of the cost to replace the car. The fact that the 2008 has a significantly less chance of a serious injury, insurance premium is lower. Not sure if this is the case with the G35, but it was with my recent purchase. I would also disagree with your comment regarding the value of the vehicle being fixed to the lessor/lien holder. The insurance company calculates the value of the vehicle when/if a complete loss occurs. If the value of the car is less then the amount you owe on a purchase, you, as the buyer, must pay the difference. In an IFS lease you are covered by GAP insurance. You can of course purchase GAP insurance if you purchase a car, but if you put 50% down on a car and it gets stolen on the 2nd day, then you are out about 10% as your insurance will pay you a depreciated value. If you leased a car and on the 2nd day it is stolen you are out your up front costs (which is why I put a big fat nothing down on mine). Another cost that you should consider when purchasing. Yes, it is still cheaper to buy then lease, but the gap is narrowing. 
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Replying to: brian62 (May 18, 2008 7:59 pm) This is exactly what my insurance carrier told me as well. I was surprised to learn that when i switched my wifes car from a 2004TL to a newer 2008 vehicle the rate did not go up at all. |
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Brian 62: If Edmunds True to Own Costs claim the average maintenance expenditure to operate a car over 6 years is $6K, as a former Literature Professor in College used to exclaim "They [Edmunds] are off their Rocker"!!! Perhaps those costs include gasoline and insurances. As a trial lawyer who handles a significant portion of bodily injury and property damage claims I can tell you that you are gravely mistaken about how insurance claims benefits are paid out and how premiums are assessed. When a car is financed, in other words, a security interest has been recorded with the local Sec. of State insurance company's will only issue policies which include Gap coverage. Otherwise the lien holder will put in own GAP coverage in effect at the buyers expense. Lessee's must provide the same coverage for the leased car. Third party injury claims are paid under the third party liability provision of the auto policy. Liability is assessed against an insured based on a determination of breach of duty of care to another and injury resulting form said breach of duty. Age of a vehicle has no direct correlation to a finding of liability, unless the owner, operator of the vehicle was not properly maintained and the lack of proper maintenance vehicle proximately resulted in the injury. For that matter the operator of a 6 month old car, who has modified, neglected or abused his newer car to the point where it proximately resulted in property damage or injury to another could be held liable. Whether a car is new or old, whether the car is owned or leased would normally make zero difference as to a liability determination. ZERO. Also the amount of benefits paid under a third party liability claim generally have no bearing on subsequent underwriting changes to the driver's premiums. Benefits will be paid up to the policy limits based on damages. If a motorist is determined to be liable for a financial sum in excess of their liability limits, any supplemental liability insurance they carry, such as homeowner's premise liability or an umbrella liability policy could satisfy the overage. Otherwise a judgment can be entered against the liable party, whereby bank accounts can be levied, real property can be liened and foreclosed upon, and wages can be garnished to satisfy the deficiency in insurance coverage. Factors considered in underwriting liability portions of auto insurance policies are based on the insured driver's factors: 1) Age (younger drivers lack experience and take more risks) 2) Use of vehicle 3) Geographic area of vehicle registration 4) Whether you own or rent your dwelling 4) Sex and Marital Status 5) Credit history 4) History of being found liable for previous collisions. 5) Traffic law and criminal law violations Again, with age of the vehicle collision/ comprehensive tend to drive down as a function of depreciation. When I bought my G35 in 2003, I paid $900/ year for full State Farm coverage with $250 ded. $300K/ $300K L/U/U motorist coverage, with rental coverage. Five and a half years later I'm paying $710 per year. The only reason you would need to calculate the finance rate as a function of 72 mos. is if you could not afford to pay off the car in 36 or 48 mos. Car loans in Illinois have no prepayment penalty. In the example I gave above where my Dad bought his 5 series new in 1995, even with the cost of three sets of tires, a new radiator and the re-built transmission his ownership cost ($40K) over 120K miles hover around $0.30 per mile. If he had leased a new 5 series every 36 months the lease payments would have cost him over $86,000. That is $46,000 in his pocket. With that savings he will be able to buy a new 530i cash in full.
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Oh forgot big factor on liability risk underwriting: 1) Risk category of car (Sporty cars with more power will be considered a higher risk than less powerful cars as insurers feel they promote aggressive driving.) KBB private party retail on a 2003 G35 coupe with the mileage my car has is $17,200. My car is in pristine condition guys. Because I drive it gently. Unlike 90% of the contributors on the various G35 forums who track their cars, perform mods, drive aggressively, change tires and brakes every 20K and perform Mobil 1 synthetic oil service to protect the car. My tires lasted to nearly 40K miles, and brakes were replaced at 45K. II have spent a total of $1000 in maintenance (tires and brakes) other than oil changes every 5.5.K. I follow Schedule II which is what my dealership recommends based on the type of driving I do. Again when I sold my 4.5 year old E36 M3 with 45K miles I sold for 20% above KBB retail. |
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