My First Deal 04/26/08

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Jul 15, 2008 | 06:55 PM

#16

Dave ISM

Registered User

Joined: Feb 2008

Posts: 327

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From: Los Angeles, CA

Quote:

Originally Posted by RIDEwithG

I thought Dave was over at Cerritos Infiniti. Hey Dave, did you move to Santa Monica?

Ya... hehehe... I was originally with Santa Monica then got recruited to Cerritos... but I ended up going back to Santa Monica after a little vacation...

Last edited by Dave ISM; Jul 15, 2008 at 07:12 PM.

Jul 15, 2008 | 06:58 PM

#17

johnranger

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Joined: Jul 2008

Posts: 5

Likes: 0

Quote:

Originally Posted by dirtboy

G37J as configured MSRP should be $44,285.00 with destination and handling.

MSRP: $44,285.00
Invoice: $40,275.00

Term: 39 mo
Residual: 61%
MF: .00202

Looks like to me you're paying $500 over invoice.

Base Mo Pmt: $489.78
CA Tax @7.25%: $35.51
Mo Pmt: $525.29

Looks like a good deal, aside from the fact it's a 39 mo lease. I've done a 39 mo lease once and I'll never do one again. IMHO you should stick to 24 or 36 mo leases, never anything longer. Possible 48 mo lease if the warranty covers, but I'm not a fan of those myself.

I'm curious, why is a 3 year lease so bad vs a 2 year lease? I went to the dealer yesterday to negotiate and it seemed like the 2 year is a good 50bucks more per month than the 3 year. Then again I'm still very new to leasing and don't quite understand...

Please educate me

Jul 15, 2008 | 07:08 PM

#18

Dave ISM

Registered User

Joined: Feb 2008

Posts: 327

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From: Los Angeles, CA

^^ Leases are all about rates and residuals. There are times when a strong residual can overcome a not so favorable rate or sometimes even the other way around. A longer term doesn't always dictate a better payment. When you plug all this information into RideWithG's lease calculator (which is amazingly accurate BTW) for example, you'll see just where and why certain terms are better than others.