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Prices Paid: Buying & Leasing Experiences Infiniti M35 / M45 Lease Questions
1540 messages, Last post on Jul 06, 2008 at 2:35 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: dave328 (Sep 06, 2005 10:11 am) Here is the rewritten final deal: MSRP 52,510 CAP COST 49660 (1K over invoice plus 550 acquisition fee minus 33.54 cap reduction[long story]) 42mos 610.06 + 47.28tax = 657.34/mo MF 0.00205 (I was shown their finance sheet to confirm that this is the base MF for 42 mos) Residual 59% (This is according to my calculations) I'm happy with the deal. Aside from a couple of attempts at padding the MF, it was pretty straight forward. This was in Orange County, so. Cal. For those who are newbies venturing into the dark and foggy lease-land, I have a couple of pointers. Hammer out the cap cost. This is one of two key negotiation points. For me felt I would be happy with 1k over invoice and so I made that offer and it was accepted without haggling. Don't negotiate on the monthly amount, the dealer with throw out an irrelevant number and do all sorts of crazy stuff. Find out the base money factor for the term of the lease. It seems to vary slightly depending on the length. Have the dealer commit to the rate, in writing if possible. Find out the residual for the term of the lease. This is set and non-negotiable. This does vary slightly among different banks but if you ar going through the manufacturer's lease program, it is set. There is a sweet spot for the monthly payment. For the M45 it is 42 mos. The monthly payment is approx $50 less for the 42 mos compared with 36 mos. I don't think I'll have any problems keeping the car for another 6 mos, so I was happy to do it. Have the dealer e-mail you the exact terms for the lease, including the MF and cap cost, before you go in to sign the papers and cross check with your own calculation using the edmunds calc. Or you can use this site: http://www.leaseguide.com/calc.htm It is a little simpler to use than the edmunds site. If you find a discepency, point it out nicely. I think most high end dealer will play nice but they might need a bit of nudging. Pretty simple, you just have to keep your eyes open and know your numbers. Dave
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Thanks for taking the time to share the details of your deal and sound advice with everyone Dave. Car_man Host Smart Shopper / Prices Paid Forums
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Replying to: Car_man (Sep 13, 2005 3:33 am) Dave |
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I have always purchased cars, but because of mileage usage and how often I like to change vehicles, I have decided to lease for the first time ever. I am definitely going for the new M35, as I have always been a fan and owner of Infiniti vehicles since 1993. However I have one question that I can't seem to find a definitive answer to, and with the only Infiniti dealership in MS being my only option I want to go in with all the information. If anyone wouldn't mind helping, I wanted to know if the residual value percentage is calculated using the MSRP or the adjusted capitalized cost negotiated??? Also I will be using the VPP program so I know I won't be paying MSRP before I even enter the door. I would really appreciate any help. Thanks in advance. 
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Replying to: gdukes1 (Sep 18, 2005 8:40 am) |
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You're very welcome Dave. Car_man Host Smart Shopper / Prices Paid Forums |
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Welcome gdukes1. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. In answer to your specific question, vehicles' residual values are always based upon a percentage of their full MSRPs including the destination charge plus the MSRPs of any options that can be residualized. The fact that you can purchase your car through the VPP program is a good thing, especially given the lack of Infiniti dealers in your area. Car_man Host Smart Shopper / Prices Paid Forums |
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| Thanks cluedweasel and Car_man for the information. I am going to test drive and get more information from the dealership Friday. Do y'all have any tips for negotiating the best RV% and MF, with only one dealership in a 200 mile radius? | |
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After reading that someone just got a M45 for $1K over invoice at Winner Inifiniti in Wilmington, DE, I went to my local dealer (in the NYC metro area--which I won't identify out of caution and deference to the dealer) and offered 1K over invoice for an ordered M45, which the dealer immediately accepted. I told the dealer that if they did not match, I would not hesitate to get the car from Winner Infiniti at 1K over invoice given that such a savings is well worth the 1 1/2 hour drive from NYC. Had the local dealer not accepted, I would have indeed called Winner and ordered the car from them. Although I live in NYC, I have sometimes leased cars from dealers in Central Pennsylvania to save big bucks. The details of the car I have negotiated for is: 1. M45 Sport with the following options and color combination: U03 (Tech Package with Sirius) J02 (Journey Package Sport) W01 (Wood trim) P93 (Rear Deck Spoiler) B94 (Painted Splash Guards) T92 (Trunk Mat with space saver tire) Exterior color: liquid platinum (the bright silver) Interor leather color: graphite (the black leather) Total capitalized cost of the lease is $53,292 ($1,000 over invoice including the destination charge). (MSRP is $57,200). The lease is for 18,000 miles per year, 39 month term. Zero cap cost reduction. $1500 drive off costs (security deposit, first month payments, doc and title fees) The monthly payment is: $736.25 with sales tax rolled in. $669.39 with taxes up front. The money factor is .001570 (equivalent to 3.768% APR) The residual is $33,139.70 (about 58%) What do you think of this proposed deal? Having leased many cars, I think this is a good deal but your opinions are welcome.
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Replying to: 540dude (Sep 21, 2005 6:06 pm) That seems like a great deal. My lease numbers are posted above and yours seems pretty similar. The MF is significantly lower than mine but that is probably to offset the lower RV. One thing to consider is looking at the 42mo lease. My monthly payment was about $50 lower than 36 mos. I chose the non-sport M45 because the ride on the sport seemed a tad harsh and loud but I sure do like the look with the sport wheels. Take the plunge, you won't regret it. Its a fine car. Dave |
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