rmk600

I am a brand new member and will be getting my car soon! The new G is awesome. I drove one and was hooked and I've owned some nice cars. But to the topic, are any of you guys members at NFCU? They have a lease program that seems to be a good deal. I have been pre-approved and have 60 days to get my car, which I will be getting.

Here's the car:

'08 G37S 6MT Amethyst Graphite
$35800 Base
-Premium
-Spoiler
-Navi
-Splash Guards
-Trunk Cargo Net
-Trunk Mat
-Illuminated Kick-plates
$715 Destination fee

$43145 MSRP

I worked two dealerships and am getting that car for $39900, out the door. They are gonna have to get the car from another dealership, so it's not sitting on their lot. It will cost them trading a Black G37S and the $300 transportation fee to get it to their lot.

Here's the Lease Terms:

36 months; 12000 miles; 4.8% int.; $3000 down; $26500 residual = $461/month

Also, I am not sure about other lease deals but with NFCU the leasee doesn't pay any sales tax. All I will pay is registration fee in FL (not much). I can sell the car at any time and as long as I pay it off, I will be out of the lease and can take any profit. If I exercise my option to buy I would pay sales tax on the amount i buy the car for. There is a $30 a month "use fee" included in the montly payment. So I calculated that in 3 years I would pay $18516 (incl. my down payment) and that would leave me at $21384. Paying $26500 at that time doesn't sound that bad, especially if I end up falling in love with the car and want to buy it. I understand that overall I would have paid $45000 for the car, if I buy it. Any suggestions and/or comments are appreciated! Thanks

Blackjack

iTrader: (3)

My friend goes through Navy Federal for his car loan. I hear they are pretty good.

rmklaw1

I am a member and got a Porsche Carrera financed through them and I am now going through another financing. They are excellent and have unbeatable rates.

Richard

chinua

They are the best. I did mine through them as well... but why would do you have to pay a down payment? Personally, I think its silly putting down money on a leased vehicle. Your payments will only increase slightly if you roll that into the lease. I am going to give you the actual numbers in a sec... Also, i think NFCU is standard on 15K a year

Based on your numbers I came up with monthly of $414.58 Including the 2% NFCU charges for inception. I dont know how/why you have $460. If you include roll the down payment ($3000) into the lease the monthly is $503.92. Its almost $100/month but for the term its just about equal. I would keep the $3000.... Please see my calculations .pdf

Mestizo

Yea, ive been w/ navy fedz all my life and had a couple loans through them. Never did thier lease program but im sure its good. Also...please explain how you dont have to pay tax going through NFCU.

rmk600

Thanks chinua. I actually am holding off on the new car right now. But thanks for the info. They will give you a waiver and you give that to the dealership or your counties tax collector. Not sure how they do it but they do. If you purchase at the end of the lease then you pay taxes on the loan amount.

Mestizo

I see... so your not getting the car now?

RIDEwithG

I leased mine at 4.56% through IFS. However, if you can save yourself the tax, then you're credit union has a pretty good deal.

Some things to note tho...make sure they provide GAP coverage and their is no disposition fee (turn-in fee). IFS provides GAP and has no turn-in fee, so it will save you some cash.