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Prices Paid: Buying & Leasing Experiences Infiniti G37 Lease Questions
4732 messages, Last post on Dec 08, 2009 at 8:57 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Picking up ordered car in couple of days. Checking numbers since IFS came out with summer special. 39 month lease 12K/miles/yr .00141 - money factor 56% - residual Thanks in advance. |
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Replying to: g35flooded (Jul 19, 2009 6:58 pm) |
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Car_man -- Looking at a 39 month lease on a g37 sedan with premium. Two questions: (1) The leasing folks at the local Infiniti dealer quoted me a price of $520 and change (tax included). When I run the numbers they gave me on a lease calculator, though, I come up with a number more like $490 (tax included). This is a sign and drive lease. Any idea what gives? (I added in destination charge, $595 lease fee, etc., and still have discrepancy.) (2) You mentioned that a good price for an Infiniti customer (I am turning in a G35 lease) on the G37 is invoice minus $1000. The best this dealer is willing to do is invoice plus $200. Do you know of folks doing the transaction at INV-$1000? Thanks in advance. Really appreciate the information on this forum. |
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Replying to: buckeye_guy (Jul 21, 2009 4:41 am)
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Replying to: kingpcgeek (Jul 21, 2009 4:57 am)
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Replying to: buckeye_guy (Jul 21, 2009 5:49 am) Also, if you're located in NY state, when you put the tax in the lease payment the edmunds.com lease calculator (or any other lease calculator) won't give you the correct payment amount. It's because NY state is an up front tax state (which is different from most states) so that affects the way the lease payment is calculated when you put the tax in the payment and most lease calculators simply add the sales tax amount to the payment at the end. I found the following discussion that gives the formula on how to calculate lease payments in NY state with tax in the payment. http://www.leasecompare.com/lcforums/viewtopic.php?f=5&t=1830 Even when I used the formula in that discussion thread, I still couldn't calculate a payment amount to match Infiniti's number. My calculation was always $10 or $15 lower. I'm convinced there's a bug in the lease calculation system (and I work on I.T. systems at a commercial bank) but I have no way of proving it. |
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So i've been looking at many cars over the past month or so and have test drove an Acura TSX, Audi A4, Nissan Maxima SV and an Infiniti G37X with the Prem package. Suffice to say I really like the G37X a lot and have settled on it as the car to get. I noticed a deal online advertised on the Infiniti website that offered a 39 month lease program where you would put down 4k and have a monthly payment of 379. When I went to the dealer in Buffalo, NY, Autoplace Infiniti the salesman informed me that the actual down payment would have to be roughly 6200 (Down pmt + tax and other fees) in order to get the 379 a month. He also said that things are negotiable and I am not sure what MSRP he was using to calculate these payments. I asked him to calculate using 5000 down and he came back with payments of roughly $420 a month. Now what I am wondering is if I should wait to lease the car. I am very new to the whole leasing thing so any and all suggestions on what I should do will be much appreciated. I feel like paying roughly 20 k (5k down, ~400 a month for 39 months) over the next 3 yrs for a car I have to return is a lot to lose without having any equity at the end.
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Replying to: theproman23 (Jul 21, 2009 6:25 am) There is only one MSRP for a vehicle, the dealer can't change it. What he does change, and what you should be negotiating on instead of down payments and payment is the selling price. Right now you should be getting the car for around invoice. One of the main reasons to lease a car is to put as little money as possible down. Unfortunately New York is one of the worst states to lease a vehicle in. In most states you pay sales tax every month on the monthly lease payment, in NY the tax is paid upfront. You can roll the tax into the lease payment, but now you are paying interest on taxes. At most, at the time of signing the most you want to put down is first months payment, tags/license fees, Infiniti bank fee, dealer doc fee and taxes. You can choose to put down less if you want. You can even pay the first months payment and drive off. You however do not want to put down anymore then the fees I listed. Here is a perfect explanation from leasecompare.com: Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss. For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial down payment of $3,000. It was lost. The moral of this true story is to put as little money down as possible,ideally no money down. Here are some other things to consider: - Money down is taxable - Take the money you would have put down and invest it - Put your down payment in a savings account and use a portion each month to help make your lease payment |
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| What are the current money factor and residuals on a G37 coupe for 36/15k miles? Are the numbers any better for 39 months? | |
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I recently finalized a G37X(Prem&Navi) $600 Drive off and $525 a month tax included. I paid invoice -1000(loyalty). I tried to be greedy and ask for another $250 off invoice. I don't think I could have received a much better deal. The thing that helped me was learning to calculate my own lease. I never cared about MF,residual,ect. But it is important to be able to do your own numbers. Many dealers will try to take advantage of you. They are like wolves hunting for sheep if they see you don't know what you are doing. This is my second lease and I have learned a lot since the first one.
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