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Prices Paid: Buying & Leasing Experiences Infiniti G37 Lease Questions
4718 messages, Last post on Dec 07, 2009 at 8:28 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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I have a 2006 Infiniti G35 4-door. I leased it in January 2006 for 42 months at 15K miles a year (52,500 total). Lease is up July 2009 and I probably won't have more than 35K miles on it at that time. I do not want to keep the car long term, so I'm wondering if I would be able to: (a) Buy the car at the residual value stated in the lease (which I think is about $17K+ based on expected 52.5K miles) and then sell it for a profit, or (b) Use the fact that I'm way under mileage and that the retail value of the car if the dealership resold it is probably quite a bit higher than the lease-end purchase price as bargaining power to get money off a new lease. Anyone had any experiences with this that they could share? Thanks in advance. DLagent |
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Replying to: peekay1 (Aug 29, 2008 8:07 am) likewise with bmw on the 0.9%.... seems like they are hedging their bets in case they need to extend. of course, the dealers are all saying it's over on the 2nd. |
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unfortunately, i suffered the consequences of past mistakes regarding my credit through a high MF, but never the less, i got it for under 600 a month which is what i was budgeting for. i'm 26 now so hopefully in 3 years, i'll get approved for tier 0/1 and get into the new g50 sedan (500HP) coming out in 2010.....my salesperson mentioned this and also mentioned it as a sedan, not coupe.....great thing is that i got the color i wanted, with the option i wanted (only moonroof no premium, extremely tough to find), for under invoice! here's the deal (please note i'm in illinois where the tax is based on entire selling price of car which is noted in the cap cost) g37 journey with only moonroof and trunk cargo net in liquid platinum msrp 37475 invoice 34457 selling price 33757 (700 under invoice) cap cost 36204.38 (includes 7.25% illinois tax on car) residual 60% mf 0.00405 (approved tier 4) monthly payment: 589.73 due at signing: 1502.73 (1st months payment, bank fee, ert fee, doc fee, title/lic) the dealer (lisle) and salesperson were so extremely friendly and courteous. i was in the dealership for about 25 min signing the papers, 10 min with the finance guy, and the rest of the couple hours was test driving, going over the car, and inspecting the car. i'm upgrading from an impreza (not wrx) and all i can say is...vroom vroom. the power on this thing is amazing and i am absolutely loving it. edit: thanks to everyone on this thread for great advice and great discussions overall. |
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Replying to: peekay1 (Aug 20, 2008 10:38 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Hi guys, Am a total newbie here and trying to absorb all the lease jargon. Had a quick question - the residual value seems to be a hot topic but if I dont intend to buy the car after the lease period ends, do I even need to worry about it? does it have any other implication? Apologise if I'm repeating this question if it has already been raised. Appreciate any responses. thanks! |
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Replying to: shyamy (Sep 02, 2008 7:12 am) |
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Replying to: shyamy (Sep 02, 2008 7:12 am) I'd also add that many sales people have been trained to "sell" a monthly payment but if you don't know how they arrived at the number your positional power in terms of negotiation will diminish considerably. Plug numbers into online lease calculators or create your own spreadsheet and play with the numbers. You'll see how the residual value, cap cost, dealer fees, cap cost reduction (what you pay at the time of pickup) and money factor will impact the monthly payment. For instance, when I first inquired about leasing a G37 Journey the first dealer wrote me back saying he would sell me one for $38383 but the monthly payments came out to $599 a month. I responded asking the dealer everything from the cap cost, all inception fees (dealer doc, tag, license, inspection acquisition, etc), MSRP, residual value and money factor. It turned out while the cap cost was low the dealer fees were extremely high (they were trying to recoup profit on the back-end) and the residual value was also not inline with what I was seeing on this board. I just leased the G37 Journey with the premium and navigation packages from another dealer but ended up paying a higher cap cost ($39190) but almost no fees and the money factor and residual value were inline which made my monthly payments under $562 and saved me approximately $1443 in additional payments over the lease of the car (the number includes the acquisition fee and tax - I live in TX and have to pay in full upfront - into the car and only paid the first months payment at the time of signing). So, as you can see there are many aspects of the lease calculation you'll need to consider. Personally, when I wanted to lease the first time, I invested my time into understanding the lease calculation intimately...now days I find I have to talk to a F&I person since most salespeople (including managers) don't understand how to properly calculate leases...and really, it's not that hard! I hope this helps! |
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I went to the dealership yesterday and was quoted a price of, so he says, $38,000 12,000 miles a year 36 months $1,000 down plus first month payment 7% sales tax in my state of NJ $498+ tax so thats equates to $532.86 a month this is with no negotiation, is this a good deal? is the $38,000 correct for this monthly payment? and what do you think is a good price? Thanx
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Replying to: shyamy (Sep 02, 2008 7:12 am) What matters to me is only the amount I need to pay monthly but knowing the residual and understanding the pitfalls can hep me in lowering my payments. Looking fwd to reading more details on the leasing process before I begin my search for a new G35!! regards -
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Replying to: shyamy (Sep 03, 2008 7:29 am) You nor the dealer can control the residual and in most cases the money factor. So the only thing you can negotiate with a dealer is the price of the car. |
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