Hi Everyone,

I'm currently looking to trade my 2008 350z in on a leftover 2008 G37. I was offered a lease with $3500 down, $319/month for 39 months which sounds good.

The problem is I still owe about 25k on my Z, which I would just like to break even on at this point. The Infiniti dealer told me to bring my car down and that they would work with me, but I'm sure they won't offer me much.

So my question is, what are my alternatives? For instance, if they offer me 20k for my trade, should I / could I roll the difference into the lease?

Any help is appreciated.

 

1. try to get a lower downpayment.
2. tell them that if you don't get the right price for your car no deal. Straigt up say i can't afford anything more than that.
3. sell it on your own

What is the cars value?

ps- they need cars to move so they are desperate. Tell them you don't mind keeping your car either for a longer time. its almost new etc etc. IF they want your business they will work with you. Also, last wait until about Feb 26th. end of the month is great

 

I was in the same situation with my 07z and I traded for the G 6 months ago but had 60000 miles on it and was way upside down I still owed 26000 on it and only got 17000 on my trade so I actually had then lower the car from 44,600 to 38000 and took the trade after 3 days if negotiating and put 3000 down my payment is actually 100 more than the Z now but very happy with the car loaded up blk on blk g37s

 

Yeah, the dealership I'm talking to has about five 2008's, so I know they are desperate to move them. The trade in value on my car right now is about 21k and I owe 25. Assuming I could get them to offer me a decent amount for my trade, would it be wise to roll the difference into the lease?

 

Why so low a trade-in on the '08 Z? Is it high miles?
Being upside down is no good.

 

They paid my loan and rolled over whatever the difference was such ended up being 3 or 4000

 

No, I only have 6000 miles. I think the release of the 370 is hurting resale a bit.

 

Also, does anyone have a round about idea of what the lease term would end up like if I shortened it from 15,000 to 10,000 miles?

 

take it to the stealership and see what they say.

 

Yes, it's not a good time right now for the car market but keep in mind, there's only so much they can do. I don't know what's possible in your situation, but sometimes people have unrealistic expectations.

I'm a Honda sales & leasing consultant (yes, I'm serious), & I get people who have a really rude "take it or leave it" attitude. They'll say "I want car X for this price" (way below cost on a 09), when you try to explain to them it's not possible, some of them become very rude; "fine, don't sell a car then, if you guys wanna lose a sale then it's your loss", etc (no dealer will sell them car X at the price they're asking). They don't consider that we'd be much better off holding onto the car (even with excess inventory) then to sell it at way undercost.

I'm in Toronto (Canada), & at the end of each month, we know what other dealers transaction prices are, there are no dealers in our province (eg state) that are selling 09 Hondas below cost. Our economy is not as bad as the US.

 

DO NOT do the lease... with a negative equity of $5K, they will kill you. THe problem is that you have to pay that 5K within the lease period, so if for easy numbers sake you are supposed to pay 35% of what the vehicle is worth in the lease period to get you that $399 promo they have, you are technically looking at approx 12K worth of payments spread over 39 months. NOW, add the $5K to that....

And you're looking at approx $17K (now recall that I was just pulling these numbers out of thin air, you have to calculate your own but use this as an example) to pay across the 39months and that is nearly a 45% increase in your monthly payment.... to nearly $600 or so.

NOT worth it.

IF YOU WANT, do a full buy. Finance it for 72 months with the 0.9 financing provided you have a Transunion score of 700+, and go from there. The negative equity will be absorbed into the new G37.... and make sure to haggle $2K below invoice.

With no money down, $2K below invoice, and $5K of negative equity - you're probably looking at $600-ish x 72, but you own the car..... and you're not bound by the stipulations of the lease. Same monthly... always go with the buy and not the lease.

Lease it and you're bending over.