Noob with Lease Question
06-10-2010, 12:36 PM
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Noob with Lease Question
I am considering leasing a G37 Sedan Journey with Sport/Premium package. My price before tax/reg etc. is $34668 if I were to finance the car. How does this work if I decide to lease it? Do they go off of MSRP or my negotiated price?
06-10-2010, 01:40 PM
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I highly recommend that you do a lot of online research on leases before you lease anything.
To answer your question though, it's the negotiated price that is used to determine your residual value and therefore your depreciation and therefore your monthly cost. The other thing that determines your monthly cost is the money factor, or interest. There is also the topic of putting money down (usually not recommended for a lease unless there is gap insurance included) and the security deposit.
To answer your question though, it's the negotiated price that is used to determine your residual value and therefore your depreciation and therefore your monthly cost. The other thing that determines your monthly cost is the money factor, or interest. There is also the topic of putting money down (usually not recommended for a lease unless there is gap insurance included) and the security deposit.
06-10-2010, 04:27 PM
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I agree. I would do alot of research before anything. I had the option of paying off the car which I took advantage of. BUT I walked out of the first offer they gave me and while eating lunch they gave me a call with an offer i couldnt refuse.
But the main thing is to not go broke trying to afford a car you really want. wish you the best of luck in your search and keep us updated
But the main thing is to not go broke trying to afford a car you really want. wish you the best of luck in your search and keep us updated
06-11-2010, 07:18 AM
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Yes, definitely go to ridewithg.com or edmunds.com and download their lease calculators and use them. Read everything on those sites.
I knew nothing about leasing years ago and now I'm able to negotiate pretty well when I go to lease a car.
Quick tip: Most of the terms of a lease with Infiniti are set. You can't negotiate things like the residual %, money factor, etc. They are what they are. This makes the process much easier. (You can select other banks and their numbers may differ but for the past few years, the manuf. captive financing companies usually end up with the best deals and incentives).
When you are both buying and leasing, the most important negotiation you will have is on the sale price of the car. The lower the sale price, the lower your payment (all else being equal).
Always negotiate sale price NOT payment. YOU should know your goal for payment but not disclose that to the sales person. Just tell them you want to see what the best you can do and then you'll see if matches your expectations.
Also, you can look at past G's and their residuals and do some calculations to see what it might look to buy the car off lease. Just look at original prices and residual values (they go off of the MSRP not the sale price negotiated) and see if it would make sense to lease the car and then buy off lease. You would have many more payments and more interest but your payment could be lower for that full amount of time.
Just some thoughts.
Good luck!
Jay
I knew nothing about leasing years ago and now I'm able to negotiate pretty well when I go to lease a car.
Quick tip: Most of the terms of a lease with Infiniti are set. You can't negotiate things like the residual %, money factor, etc. They are what they are. This makes the process much easier. (You can select other banks and their numbers may differ but for the past few years, the manuf. captive financing companies usually end up with the best deals and incentives).
When you are both buying and leasing, the most important negotiation you will have is on the sale price of the car. The lower the sale price, the lower your payment (all else being equal).
Always negotiate sale price NOT payment. YOU should know your goal for payment but not disclose that to the sales person. Just tell them you want to see what the best you can do and then you'll see if matches your expectations.
Also, you can look at past G's and their residuals and do some calculations to see what it might look to buy the car off lease. Just look at original prices and residual values (they go off of the MSRP not the sale price negotiated) and see if it would make sense to lease the car and then buy off lease. You would have many more payments and more interest but your payment could be lower for that full amount of time.
Just some thoughts.
Good luck!
Jay
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