Hi,

first of all thanks to everyone who is taking a look at this for me. I'm new to the car leasing market and would appreciate some insight.

I got a quote from a dealer here in Socal:

G37 w Prem & Nav
39month 12k miles /yr
456/Month Tax inc.
2500 OTD

They used a 61% residual, which is $25,269.25, so the MSRP would be $41,425. They used a .00205 money factor which translates to 4.92%.

So i'm wondering whether this is actually a good deal (other dealers are quoting me higher than this so far) and whether there is more room for negotiation. Thanks again to everyone that looked.

 

Did u negotiate the actual price of the car and the fees ? IMHO that is the most important part and can make a big difference to the amount u put down.

If u can give me the actual price paid for the car, I can run some number for ya and give u an opinion.

The residual cannot be changed by the dealer (translation : he can not rip u off on that) and the money factor is what the IFS base rate is 0.00205

Cheers

 

seems like a good deal

 

ok I ran the numbers and it seems I'm getting it at invoice. Gonna try and push it alil more mayb to ~ 440-450 mayb?

 

If its at invoice, its an excellent deal. Whats the breakup on the 2500 u r putting down ?

 

its basically 2044 down cuz 456 is my 1st month

 

Looks like $520/month if you don't place money down.

Not too shabby.

 

yah got this quote but I'm getting another quote from a diff dealer it seems like said they'd match it plus take my current car (corolla) pay off the residual ~6000 and cover my 2044 down so i'd only pay 1st month

 

dzy, I ran some numbers for you. If u take my friend's deal (same as your car, just missing the NAV package, only 24 months) and add in the NAV package, the deal should be

0 down 495.90 a month (tax included at 6%)

or

2044 down 435.80 a month (tax included at 6%)

They r either rolling in some fees into ur payments or are not applying the entire down payment to the cap cost (again due to fees). I know there is a $595 bank fee that u have to pay no matter what. But the rest of the fees are just to pad the dealer's profits and are pretty arbitrary. there maybe a small doc fee or ad fee, but if its more than $250 then they may reduce it if u haggle.

The payment might be higher if u live in a higher % tax state or in a state like Texas where u have to pay taxes on the entire sale price, not just the portion u would be using.



Now the second dealer is giving u a very good deal if I understand correctly. Do u owe 6000 on the Corolla ? Im a bit confused with the second deal.

 

haha wheres that deal? I'm currently in California

Yea I owe about 6000 on the corolla. If its true hes giving me an extra 2000 then i'm gonna go down and sign today.

If not I can definitely sell a 03 corolla with only 44k miles for 8k or more. I don't really wanna pay those fees and down out of my pocket.

 

dzy, Ran some more "what if" scenarios and the deal u posted in the original post seems to have a total of 1295 in fees to come up with a $456 payment.

So it could be $595 bank fee plus additional dealer fees of $700 (u could haggle with them on this)

or

u r getting the car at Invoice + 700 which is not necessarily a bad deal.

 

yea i think the breaking deal is my car currently. If i dont' have thru the hassle of selling it and get 2k for it then i think i'm set.

 

its not bad almost what i got on my deal......3,000 down 460/monthly G37 Journey+prem+sport.....I had it down to 420/month until i actually had my credit run through and found out im at a 702 (you need to be above 740 for their best financing and I am only 19 turning 20 this year so my credit ant to shabby) they financed it with my credit and it bumped it up to 460

 

dzy, my friend's deal was done in south Florida. I was actually amazed that there are south Florida dealers that dont totally want to rip u off. The only car I ever bought here was my M3 and that was because it was a "friends and family" deal. I have bought 4 other cars from out of state because u just get much better deals and u get the pleasure of breaking them in on a long drive

 

Thanks for everyone that replied, it seems currently dealers r trying to outdo each other, etc. However gotta sell my car first before i can hop in a G37 haha