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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
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: gator5000e (Dec 04, 2008 5:39 am) 1) First decide on the car you want equiped the way you want it. 2) Then establish the buying price without any rebates...it will be either cost or a little over cost/invoice. WRITE THIS NUMBER DOWN BECAUSE THE DEALER IS GOING TO CONFUSE YOU BY QUOTING YOU ALL KINDS OF "AFTER THE DEAL" NUMBERS. Your starting point on deals is this negotiated number, not the MSRP price. You don't care about how much the car is discounted from list...you care how much it is discounted from your negotiated price without any deals. 3) Decide if you are going to buy the car outright, finance the purchase or lease the car. There are different offers for each of those options. That's why you're confused. 4) Assuming you are going to lease, you have already determined your capitalized cost and your invoice price in step 2....and you have the infiniti money factor and residual. Figure the lease with NO MONEY UP FRONT....that is, pay only the first month's lease and any registration fees and taxes up front (bank fees are rolled into the lease). Putting money down is a bad decision (read back in this forum on multiple security deposits) and artifically lowers the monthly payment. Don't fall for this....divide any "down payment" money by the length of the lease and add it to the lease payments to get your true lease payments. What really matters is the total cost of the lease over the lease period...not the monthly payments. 5) If you are going to purchase or finance, then get the "deal" applied to the price negotiated in step 2. Note: The dealer does not want you to do step 2...and they don't want you to do step 4. If you try to confuse purchase and the purchase deals with the lease deals you see published (which are almost always bad deals) you are just wasting your time. Just follow the steps above....write down all the numbers...the agreed upon selling price/capitalized cost, the MF, the residual, etc. As far as buying and leasing thru someone other than infiniti, that's a financial decision. There is good money off if you purchase, however if you don't use infiniti, you will be paying far more interest...and that's IF you can get financing money.
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Replying to: ghstudio (Dec 04, 2008 9:46 am) Good points and helping clarify the strategies to gator. gator, ghstudio is correct - you are blending too many variables in doing your homework. 1) Deciding on the type of car you want is only a part of the decision, you may also want to discover what options/packages you truly want in your next vehicle. 2) For the M35 and M45, there is a significant cash discount. Yeah, they use this to entice you buy the car outright. But more importantly, it gives us (the buyer) insight as to how desperate the dealers are to move these big Infinitis off the lot. There aren't big cash discounts for any of the 2008 G35's. I would NOT settle for there full cash purchase price - there is definitely a little bit of money left on the table. 3) The residual values for the M45 and M35 give further insight - in particular, how much less desirable these cars will be as they years pass. The residuals on a G-sedan are much higher. 4) Using points (2) (discount desperation) and (3) weak residuals should prompt us to really low ball a purchase price (for cash purchase or financing) or to aim for a really low net cap cost on a lease (without putting any of your own money). 5) I as well as others on here have found that taking the cash discounts (and then some) and using STANDARD (5 - 6%) financing for 5 years is cheaper than using 0.9% financing WITHOUT the cash discount. And remember, every single number in your deal is NEGOTIABLE... even the STANDARD financing interest rates. It really is a BUYER's market - just don't get duped by all the numbers being tossed around. Download an auto loan calculator spreadsheet and do some homework on all of your finance options. Spreadsheets also exist for leases as well, if leasing is your thing. 
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Replying to: redline122 (Dec 03, 2008 11:48 am) The terms for the lease program vary by term and mileage allowance. I will provide you with the numbers for a typical lease, 36 months, 15,000 miles per year for now to give you an idea of what the program is like. Let me know if you want something a little different. Infiniti Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 M45 2WD with 15,000 miles per year are .00001 and 44%, respectively. The $1,500 bonus cash is compatible with this program. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Dec 08, 2008 2:49 am) M45 MSRP: 56170 (sport, tech/nav) Invoice: 51364 C/I: -8500 Dealer's Cash Price Offer: 42864 My Cash Price Offer: 40626 + t.t.l. The sales manager informed me that they would offer the following items at their cost if the deal goes through: He also has a friend/contact that could tint the car up for about $100 - he didn't want to offer me the dealer's tint cost of $270. Car_man, could you respond with the tier 0/1/2 standard finance numbers with Infiniti Financial Services? Let's see how this flies...
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Replying to: redline122 (Dec 08, 2008 8:07 am)
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Replying to: gator5000e (Dec 11, 2008 12:18 pm) The final price ended up being $41,350 ($724 over my final offer). I wasn't gonna muck about any further and took delivery of the vehicle on Monday night. The experience with the dealership was good. I probably spent about 3.5 hours of my time to go from my first contact with the dealership to closing on the final number. |
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I received a lease offer on the M35 w/Tech package. The dealer work sheet shows the following: Retail Value: $48,335 Savings(?): $4,635 Adjusted Sale Price: $43,700 Administrative Fee: $499 Accessories: $834 - Prepaid Maintenance and wheel locks Sales sub total: $45,033 Acquisition Fee: $815 TTL: $150 Net Sales Price: $45,998 MF: .00001 Residual: .44% Using these figures, I have been given a lease offer for 39 mo/12K miles of about $662 per month with zero down. My figures have come up with a higher payment. Problem is this is the only Infiniti dealer in the Orlando area so they are not under a lot of pressure to bargain. They say they only have a few of the 2008 M35s with tech left. I am sure I could get a little more out of them like waiving the Accessories fee. Everyone in this list has been very patient with me and I appreciate it. I have tried to figure the payments and don't feel comfortable i have calulated correctly. Any thoughts would be appreciated. Thanks.
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Replying to: gator5000e (Dec 14, 2008 6:09 pm) Have you already taken delivery with this deal? 1. Ask them what this "administrative fee" is. This is a negotiable line item. 2. How much is the prepaid maintenance? Is the plan good for up to 39 months? Or is it prepaid for more months, which would be unnecessary for your lease deal. 3. How much are the wheel locks? Heck they should be giving these away! Keep in mind that the residual value of "dealer addons" like wheel locks, and chromed/aftermarket wheels are MUCH lower than the base price of the car. I remember looking at a BMW 5 series where the residual on the car was 49%, but the residual on the accessories that made the car sooo sexy came in at a meager 10% - that throws the numbers in a tizzy to say the least. 4. You can get a car from any other state... the cost of shipping could be as much as $1000. That may still pose a cheaper deal than what you may be getting in Orlando. 5. Have you tried the Edmund's lease calculator It's actually pretty good! 
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| This number looks like what they did last year (fall '07). I think you can do better, but I admit the residuals have been very low these days as the manufacturer/dealer seem to be favoring sales vs. leases. I think you could actually buy this car over five years with a similar monthly payment even with zero down. Check out the deals in the Sales Experience forum for the M cars. | |
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redline122, I believe, but need to clarify, the Admin fee is the same as dealer prep/doc fees. I also have to check on the time for the pre-paid maintenance. I realize all this stuff is pure profit to the dealership. I may ask them for a cash price deal even though I am not crazy about financing a car. I have to weigh this against an offer for a RWD 2009 Caddy CTS for $37500K fully loaded. So confused!! 
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