- #844 of 3301
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Re: Money Factor Markups - How does it benefit the dealer? [blerner2]
by Car_man HOST
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Dec 06, 2006 (4:29 am)
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Replying to: blerner2 (Nov 28, 2006 1:29 pm)
HI blerner2. Marking up vehicles' money factors benefits dealers because banks provide kickbacks to dealers that are able to increase money factors above their buy rates.
Car_man
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- #845 of 3301
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Re: Question about addl. Security Deposits [sprinkler13]
by Car_man HOST
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Dec 06, 2006 (5:00 am)
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Replying to: sprinkler13 (Nov 29, 2006 2:03 pm)
Hi sprinkler13. I don't believe that there are any risks associated with putting down additional security deposits on leased vehicles. Most banks that allow multiple security deposits will fully refund them in the event that a vehicle is totaled in an accident or stolen and never recovered. Still it's not a bad idea to check with Infiniti Financial Services, or whichever bank you are leasing through to make absolutely certain that this is the case. The main risk that is associated with making multiple security deposits is the opportunity cost associated with making them. The discount that one receives by making them is usually significant enough for all but the most aggressive investors to justify making them though. Manufacturers' captive finance companies, like Infiniti Financial Services, are usually very reasonable when assessing returned vehicles for excess wear and tear. There's no reason for them to nickel and dime a lessee to death, angering them, and potentially costing their parent company (in this case Infiniti) a future sale. That would be penny wise and pound foolish. Lessees who make additional security deposits are no more likely to have to pay a penalty for excess wear and tear than a normal lessee.
Car_man
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- #846 of 3301
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Re: 2006 G35 MT Coupe [zmonet]
by Car_man HOST
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Dec 06, 2006 (5:14 am)
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Replying to: zmonet (Nov 30, 2006 7:48 am)
Hi zmonet. I haven't seen a 12 month lease program for this car this month. Infiniti may no longer be offering that short a lease on this car. I have seen its 24 month program though. Infiniti Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2006 G35 Coupe with 15,000 miles per year are .00147 and 68%, respectively. Its 12,000 mil per year residual value is 1% higher. Using these numbers and the prices that you mentioned in your post, an MSRP of $39,690 and a selling price of $35,700, I estimate that this car would have a zero down, pre-tax monthly payment of around $456 with 15,000 miles per year and $440 with 12,000 miles per year. With this deal, at lease signing you would have to pay your car's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $50 increment, IFS' $595 acquisition fee, and any required state taxes or fees.
Car_man
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- #847 of 3301
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Re: Did I Get a Good Deal? [joseppi22]
by Car_man HOST
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Dec 06, 2006 (5:16 am)
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Replying to: joseppi22 (Dec 01, 2006 10:49 am)
Congratulations on your new car, joseppi22. I would be happy to share my thoughts on this deal with you, however you never mentioned your car's selling price. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. This number will show me how much of a discount you were given on your car. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. Let me know what the selling price is and I'll tell you what I think.
Car_man
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- #848 of 3301
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Re: Money Factor/Residual 2006 Coupe [zmonet]
by Car_man HOST
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Dec 06, 2006 (5:18 am)
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Replying to: zmonet (Dec 01, 2006 10:50 am)
Here's the info that you're looking for, zmonet. Infiniti Financial Services' current buy rate lease money factor for a 24 month lease of a 2006 G35 Coupe with 15,000 miles per year are .00147 and 68%, respectively. Its 12,000 mile per year residual value is 1% higher. I have not seen a 12 month lease program for this car in December. It is possible that Infiniti is no longer offering 12 month leases on it. You need to check with your dealer to find out if this is the case.
Car_man
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- #849 of 3301
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Re: Another question about Security Deposits [sprinkler13]
by Car_man HOST
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Dec 06, 2006 (5:20 am)
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Replying to: sprinkler13 (Dec 01, 2006 3:30 pm)
Hey sprinkler13. I believe that Infiniti Financial Services' charges a security deposit equivalent to your vehicle's monthly payment rounded up to the nearest $50 increment. It allows lessees to make up to nine additional deposits, with each additional one lowering the money factor that is used to calculate their vehicle's payment by .00010.
Car_man
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- #850 of 3301
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Re: Looking for Feedback on this Deal [zmonet]
by Car_man HOST
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Dec 06, 2006 (5:29 am)
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Replying to: zmonet (Dec 02, 2006 8:26 pm)
Hi zmonet. Dealers do not have the authority to alter banks' published residual values. Infiniti Financial Services' current 24 month, 15,000 mile per year residual value for a base 2006 G35 Coupe is currently 68%. The money factor that you were quoted is right in line with IFS' buy rate for this term.
The car that you described, an '06 G35 Coupe with Premium & Nav has a spread of around $3,300 between its full MSRP and dealer invoice price. You were quoted a $2,734 discount on it. This is probably right around $500 over invoice, which is pretty good.
Bottom line: the lease program that you were quoted is correct and the price that you were quoted isn't bad.
Car_man
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- #851 of 3301
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Re: Help Me Please!!!!!!!!!!!! [mr_g_35_s]
by Car_man HOST
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Dec 06, 2006 (5:31 am)
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Replying to: mr_g_35_s (Dec 03, 2006 3:47 am)
Greetings mr_g_35_s. Don't sell yourself short, I am sure that you can figure out exactly how leasing works by checking out the following easy to understand articles that are available on the subject: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
I would be happy to share my thoughts on this deal with you, however you never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. Let me know what these numbers are and I'll tell you what I think.
Car_man
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- #852 of 3301
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Re: Help Me Please!!!!!!!!!!!! [sprinkler13]
by Car_man HOST
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Dec 06, 2006 (5:34 am)
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Replying to: sprinkler13 (Dec 04, 2006 12:52 am)
Sprinkler13 is right. Consumers who make down payments on leased vehicles risk losing them if their vehicle is totaled in an accident or stolen and never recovered. If you have the money available, a better way to lower your vehicle's monthly payment would be to make multiple security deposits. Each additional security deposit that one makes on a lease through Infiniti Financial Services, up to a maximum of nine, lowers the money factor that is used to calculate the interest portion of one's monthly payment by .00010. The best thing about making additional security deposits is that you actually get that money back at the end of your lease, unlike a down payment which is just gone.
Car_man
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- #853 of 3301
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Re: Lease quote [mtroy]
by Car_man HOST
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Dec 06, 2006 (5:37 am)
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Replying to: mtroy (Dec 04, 2006 3:10 pm)
Hi mtroy. The numbers that you were quoted for this car are pretty close to Infiniti Financial Services' current lease program for it, the actual numbers for a 48 month, 12,000 mile per year lease of an '07 G35 Sport are .00245 and 44%. They will be the same, regardless of what Infiniti dealer you go to, unless you find a dealer that attempts to make additional back-end profit off of your deal by marking your vehicle's money factor up. Fortunately, that is not the case here.
Car_man
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