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Prices Paid: Buying & Leasing Experiences Infiniti M35 / M45 Lease Questions
1830 messages, Last post on Nov 16, 2009 at 7:02 PM
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Replying to: stunatu22 (Sep 11, 2008 7:51 am) I think the best you can do...and what you should strive for is to buy the car at edmunds invoice price. The dealer will still make money, don't worry about them. So your capitalized cost should be invoice plus bank fee plus any administrative fee you can't negotiate away. The only thing you should pay for the first payment is the first month's lease plus registration costs plus any taxes that are required by law....nothing else. $704 still sounds high for that lease(does that include tax). Ask the dealer what money factor and residual they are using? Also ask them to tell you what it would cost if you only leased for 24 months...and get the money factor and residual for that. Let us know what happens.
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Replying to: ghstudio (Sep 11, 2008 1:20 pm) My accountant suggested to lease the vehicle as I am self employed and the entire amount could be written off monthly - that's why I am giving up on the $6000 off the purchase of the M35. The $704/month does include all taxes (8.75% (ouch!) - erie county in new york state ) & bank fee ($595.00) that I rolled into the lease. The rate is 1.160 (that doesn't make sense to me) according to the paperwork he sent me and the residual is 50% or $24,512.50 Now does this sound like a good deal or am i getting screwed?  Look forward to your repsonse
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I'm closing in on a lease or purchase for an Infiniti M35x with Tech and Xenon lights, etc...MSRP $50,835 Lease Price - $45,278 or Purchase $39278 w/6000 rebate cash deal 1600 Out of Pocket 6% Tax 12k Miles 39 mos 48% residual $597/mo Should tax be factored in before or after rebate is deducted? Ghstudio, I'm leaning toward buying this one, because it looks like a great deal...what do you think?
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Replying to: stunatu22 (Sep 11, 2008 4:29 pm) |
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Replying to: readyformyrl (Sep 11, 2008 4:40 pm) Why the 1600 down?. you can do it, but your real monthly lease price is really 1600/39 or $41 more ...so $648/mo vs over $700 for the other deal. I'll find out what the real residual and MF are tomorrow and we'll get both of you straight. Taxes are almost always before rebates however the $6000 marketing money goes to the dealer, not you, so, at least in theory, that should not be taxable....it just allows the dealer to reduce the selling price to you. For leasing: In most states you only pay taxes on your payments so it doesn't matter how the rebates or marketing money are handled....you only care about what you pay and taxes aren't added in to the msrp or capitalized cost calculations. For example, in the recent $2000 rebate for infiniti owners, I had to sign a form assigning that $2000 to the dealer...and had I been buying the car, that $2000 would have been deducted after the taxes. In a lease, it doesn't matter in most states since you only pay tax on your payments.
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Replying to: ghstudio (Sep 11, 2008 8:13 pm) |
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IFS official rates for this month on the 08 M35x are: Residual Money factor 15K 12K 10K 24 mos .00001 53% 54% 55% 36 mos .00002 46% 47% 48% 39 mos .00002 45% 46% 47% 42 mos .00002 43% 44% 45% with these rates, you can basically ignore the finance charge. There is no rebate or marketing money available unless you are a previous infiniti owner and then you are eligible for $2000 off your capitalized cost on a lease. Now you are ready to negotiate buying the car for invoice or very close...have a go at negotiating the "administrative fee" away...and then make sure they are using these rates. Remember the dealer gets holdback money and any administrative fee is really just profit, so there is still profit for them in the deal. Note: IFS rates are effective nationally. Some dealers will tell you that their local rates are higher and the reason that they are, which of course they they don't tell you, is that the dealer is marking them up. Don't fall for that stuff. Hope this helps
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Replying to: ghstudio (Sep 12, 2008 11:36 am) I'm leaning toward buying and controlling my own destiny because of the 6k rebate. The car is already priced under invoice by $350, every other dealer I spoke with wouldn't come close to this deal...any other comments you have on trying to get an even better deal would be greatly appreciated. Thanks! |
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That was .00002 not .0002. Your dealers are marking up the rate to make a profit. I saw the infiniti sheet at the dealer so I know the numbers I gave you are accurate for a 2008 M35x. So you can either tell your dealer's finance/sales manager to stop playing games...or you can go to a different dealer. I won't answer the buy vs lease question. That's up to you and your personal circumstances.
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Replying to: ghstudio (Sep 12, 2008 5:29 pm) I really appreciate your wealth of information and now feel like I'm not going in blind to the dealer. I'll let you know how I make out! |
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