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Prices Paid: Buying & Leasing Experiences Infiniti G37 Lease Questions
4619 messages, Last post on Nov 08, 2009 at 1:36 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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| anyone recommend a good dealer in NY. looking to get the 2008 g35xsport sedan. | |
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Replying to: drjustin (Dec 23, 2008 9:59 pm) It's not advisable to do any capital cost reductions on leases. The gap insurance will cover the difference between the commercial value and what you owe (so if you put 2k down and you happen to have a total loss on your car, you will never see that money again, but your gap insurance company might send you a thank you card  ). Given the low money factor, ask the dealer to roll everything into the lease and just pay 1st payment+Security deposit at inception. If the cash is burning a hole in your pocket, or your only other investment alternative is a Madoff fund, you're better off making multiple security deposits, which would further reduce your money factor rate. Security deposits are completely refundable at the end of the lease. PS. Yes, you have to make the first payment at inception. Lease payments (like any other rent) are due in advance, as opposed to finance payments which are due at the end of each period.
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Replying to: passat_mx (Dec 25, 2008 4:01 am) i'm not sure i understand the security deposit deal. will the monthly payment still remain the same as with a cap cost reduction?
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Replying to: drjustin (Dec 25, 2008 10:48 am) No, they are a different concept (see post 3722 in this thread). You should get familiarized with how to calculate a lease payment before heading to the dealer. Edmunds has a very good article here, but I'll give you the gist of it: There are four factors that come into play in a lease: two that are fixed, one that some dealers will try to play fast and loose with, and another that you have to outright haggle with: a) MSRP: This is fixed, printed on the window of the car. Just make sure it doesn't include any "dealer installed" crapola. Those accessories/protection plans are usually marked up through the roof. Decline them all. b) Residual percentage: Again, fixed for a determined mileage. The bank sets it and won't accept a contract that deviates from it. c) Money factor: Fixed, and you can learn about it here. However, in this case the bank sets a base (also called "market") money factor but lets dealers mark it up up to certain point, and they get a kickback on the difference. So you have to know what the base money factor is and insist that that's what is used in your calculation. Money factor for a lease is akin to interest rate on a traditional loan, so the lower it is, the better for you. Some banks will take multiple security deposits and give you a discount on the money factor in exchange. Since security deposits are completely refundable, this is usually a good option from the consumer's point of view. d) Capital cost: This is the amount for which the leasing bank is going to cut a check to the dealer. It equals the price you agree to pay for the vehicle after all the haggling, plus any other fees you decide to "roll up" into the loan. Let's talk about what these fees could be for a second: **bank fee, all banks charge an inception fee (again, there's a base or market fee that dealers are allowed to inflate to a certain point, so you need to check these forums to see what the current fee is), **title, tax and license (TTL), which are set by your state's DMV, **document fees, this is just crapola from the dealer, try not to pay any (California though sets it fixed at $50, so I don't haggle with that). All these fees can be rolled into the loan if you want (as opposed to being paid at inception). If the money factor is low, it could make sense to just do that. Lastly, the formula: Your lease payment is composed by depreciation + interest: ResidualAmount = MSRP * ResidualPercentage Depreciation = ( CapitalCost - ResidualAmount ) / NumberOfPayments Interest = ( CapitalCost + ResidualAmount ) * MoneyFactor MontlyPayment = Depreciation + Interest In California, sales tax is applied not at the time of the sale, but at the time when each lease payment is due, so just apply your local sales tax to the resulting MonthlyPayment above to figure out how much to write the check for. Other states might have a different way of handling sales tax. |
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Replying to: Car_man (Dec 22, 2008 4:06 am) Here is the info I have and would like to know what you think.. Thanks again for spending the time 08 G37 coupe, Premium package. Wheel/tire package… 39 month lease 15,000 miles Zero sign off.. 463.55 with tax the break down from the dealer is: MSRP - 40,315 Cap Cost -36,095 Net Cap Cost -36,095 Money Factor -.00159 Residual – 57%
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Hello Everyone, I am thinking about leasing an 08 G37 Coupe W/Premium package. The dealer is offering a 39 month lease with zero down at $399 per month. A total of $2,469 is due at signing. This includes taxes, DMV, and bank fees. Since I am clueless about leases, can you let me know whether or not this is a good deal? I forgot mention that the vehicle is the dealer's test drive car. It has 400 miles.
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Hello all, I am new member here and I have been reading these posts for some time. With all the helpful advice I managed a deal for lease of 2009 G37x coupe AWD. I had recently been to a dealer here at Minneapolis and this is the figure he gave. I am looking for some suggestions and help me figure out if its a good deal. Car = 2009 Infiniti G37x coupe + premium + navigation + wheel locks + car paint seal MSRP = 44770 Inoice = 41064 (from Edmunds) Cap cost (after bargianing) = 43000 MF = 0.00243 (reduced from 0.00293 due to 5 MSD, 0.00293 - 5*.0001 = 0.00243) Residual = 58 % Lease term = 39 months Total number of miles per year = 10000 Lease amount = 660 per month The sales manager was very understanding and explained that he cannot reduce the cap cost any further as its a new car. Is this a good deal or can i do better specially the MF and residual? Can I call Infiniti financials and find authentic MF and residual? Has anybody bought or looking to buy this car if yes could you please tell me what deal you have? Please let me know as I am planing to settle this early. Thank you
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Replying to: masiisam (Dec 27, 2008 10:26 am)
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Replying to: johninnj (Dec 29, 2008 6:02 am) We already took delivery and love the car…but I would like to know if we got a solid/fair deal How do the rest of the numbers look?.. |
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help me out guys, im ready to get a 2008 G35XS with navi, tech, and premium. msrp: 42,430.00 deal: 37900.00 they are taking my two last nissan maxima payments which total to 700.00 and all that im giving down is 719.00 which is 1st mo. and taxes and tags. my monthly payment before tax is 483.00. 39 month lease with 10,000 miles a year. should i jump on this? or try and get them down some more, please respond soon as i am ready to give my 500 dollar deposit. thanks, Glenn |
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