I am currently on month 12 of 42 month lease on my 2008 G37s coupe. Currently paying $600.00 a month. Am I too early or upside down to end the lease and trade for a 2009 G37 vert at the current offer of $4000 down and $540.00 per month for 36 months that infiniti is offering? By the way, I have 9700 miles, non-nav Bose system, auto, kickplates.

Thanks,

Ian B

 

Keep it.

 

hmmm. I think you're kind of stuck with it. I don't think the dealership would take it back without buying out the lease... whether you have someone buy the car out right, or take over the lease, i would say you'd be in the hole bout 6k.

but you might as well do it if you want the convertible. I mean the convertible is only going to cost you 27k... I think the that config comes out like 50... meaning there's close to a 50% residual which is steal. usually there's a 40%-35% residual after lease term.

your config of the G37S is like 40k... that's a 25k lease.. (hopefully nothing down) 15k residual... the dealership will come out ahead like 8k ( guessing 22-23k bluebook value) after this after taking the car back...

this is the curse of types of luxury cars... there's a lot of built in cost that you lose the second you drive it off the lot.

 

I say go for it. You figure you are saving 60 a month over the next 3 years. That is like 2000 savings. So really you are only loosing 2k, which is really nothing for the upgrade to a brand new convertible.

 

that's not true, the convertible may have lower monthly payments but there's 4k up front. so he's actually paying 2000 dollars ontop of whatever he's going to be in for the coupe. or 650 a month if you factor in the downpayment into the monthly.

i would imagine 4000 cash would hurt more than 60 bucks a month.

 

Thanks everyone for your advise. What I am trying to figure out is how much more cash on top of the 4K I need to dish out on the convertible will I need to get out of my G37s lease and still do the $540.00/month on the convertible.

Ian B

 

I dont see how you'd come up better by doing the convertible from a financial perspective, unless you got screwed on your coupe deal and getting an absolute steal on the convertible...

What is your buyout on the coupe? If it's more than what you can get from the dealer for your trade-in, then you're upside down. More than likely you're about $6,000 upside down... meaning you'd have to give them $6,000 just to be back to $0.

What they'll likely do is factor in that amount by adding it to the new vehicle... so you wouldn't get the deal that's advertised...

I would just see if you can break even on your coupe before you look at anything else...

 

The buyout on your lease will be $540 x the months remaining. There is no free lunch.

 

Since the best time to trade the coupe for the convertible is NEVER, then yes, I'd say it's a bit too early.

 

your buyout is too much versus your value of the car

 

Thanks for everyone's advise. I heard back today from one of the dealers and I needed more than 6K to break even and then either pay 4K to get the $540.00/month offer or roll the 4K into the new lease for $640.00/ month. I turned him down and am waiting to hear from the other dealer. If I can't swing it, it is ok as I still like my G37S except for the AG color. The salesperson at the dealer I am waiting to hear back told me they are trying to move all the 2009 models so they can get the 2010 models and slow convertible sales in Nov and Dec. Well see, looking for midnight garnet color.

Ian B

 

I am curious. Why are people on this forum paying so much to lease a G37? For that amount of money you could buy one. My new G37 payment will be less than what you are leasing one for.

 

Well, unless you want to keep the car forever, leasing is almost cheaper than buying unless you don't need to finance.

If you buy a 2009 G w/ 42k MSRP for $35k + TTL, 39 months later, the trade in value is probably 18k at best in April 2013. So, the depreciation is about 17k + finance (at least at 4% = a lot of money in 39 months) + sale tax on the 17k that you use (unless you live in CA and a few other states).

You probably can lease this same car for $480/month w/ around 2k upfront cost or 530-540/month w/ no money down. $540 x 39 months = 21,060

However, I like to purchase b/c I want to trade in my car whenever I want, usually between 1 to 3 years.

 

Is your payment on a 36-39 month amortization as well? and how much did you put down?

 

60 months @ 3.75%. $6K down via a trade in. $522 per month. Leasing means you will never own anything and always have a payment. Plus they are not easy to get out of. If you can write it off as part of your business it makes some sense I guess. If you try to buy the car after lease the rate will almost always be higher than a new car purchase as well. Excess mileage fees will bite you too.