Lease Numbers ????
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iTrader: (1)
Joined: Dec 2010
Posts: 895
Likes: 9
From: Cleveland, OH
Well... I walked out... kind of. Haha, anyways the car was great and it made me like moonlight white even more, however I just couldn't get over the stone interior. Don't get me wrong, I think it looks really nice and actually has an added level of class to it, but with a 2 year old and another one on the way I couldn't imagine having such a light interior. Just getting in and out twice in slushy northeast Ohio already left marks on the carpet. So I told him I have to have graphite. After a thorough check of the countries G37xS w/ prem, nav sport... None.
Then to top it off, he low balled me on my trade in. I was offered 16k several times while shopping and even 17k a few times and he offered 15k. My salesman was actually really good and wasn't your typical car pusher and said he is going to work on getting the sales manager to up the trade-in and also check the database daily until a white/graphite pops up. He was sincerely determined to find me the car I want. We'll see how it goes.
He added that he can't be for sure, but doesn't think the numbers should change too much after the "Limited Engagement". He thought payments shouldn't go much higher then $15-20 a month more then quoted. Not sure if that is fair or not? I would imagine it is as he gave me a good price and the rest is set by infiniti as far as money factor, etc. ???
Hope my trade-in goes up, they locate my car, and my quote doesn't change much. Alot to ask for and am a bit disappointed as i thought I'd be driving home my new G.
Then to top it off, he low balled me on my trade in. I was offered 16k several times while shopping and even 17k a few times and he offered 15k. My salesman was actually really good and wasn't your typical car pusher and said he is going to work on getting the sales manager to up the trade-in and also check the database daily until a white/graphite pops up. He was sincerely determined to find me the car I want. We'll see how it goes.
He added that he can't be for sure, but doesn't think the numbers should change too much after the "Limited Engagement". He thought payments shouldn't go much higher then $15-20 a month more then quoted. Not sure if that is fair or not? I would imagine it is as he gave me a good price and the rest is set by infiniti as far as money factor, etc. ???
Hope my trade-in goes up, they locate my car, and my quote doesn't change much. Alot to ask for and am a bit disappointed as i thought I'd be driving home my new G.
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Joined: Dec 2010
Posts: 730
Likes: 3
From: Fort Worth, TX
First comment: If you finance, never trade in. You lose any value that you may have gained with the bigger payments. I am sitting on my '08 Accord for this reason. Trade in would have been 15k+ but I can sell for almost 19k. I am selling it after new year. It is a super clean, low mileage Accord. I don't feel like pay thousands to a dealer for a car that can basically sell itself.
Here's the numbers I was quoted if it helps, but I didn't go for them. I like to lease one and finance one to free up mileage...G37 is now on finance so I can drive it like crazy assuming the Acura uses up the 12k allowance.
In TX we have to pay tax on the full price twice when leased and then purchased. This tipped me towards finance. They work some tax trick on some leases where they offset most of the sales tax so the consumer only pays a 1.25% fee vs. 6.25%. I only mention this if it helps to understand the numbers. Note the gamesmanship...I ended up at a different dealer.
"Here are the lease numbers calculated at 10K miles per year. The down payments are plus first payment for total out of pocket.
The money factor for the 36 month lease is .00194 with a 64% residual.
The money factor for the 39 month lease is .00201 with a 63% residual."
Description: 2011 Infiniti G37 Sedan 4dr Journey AT [91311]
<img id="Body_imgCertified">Certified Pre-Owned
Mileage: 0
Sales Price:
Sales Price Sub-Total:
Trade Allowance:
Difference:
Trade Payoff:
Rebate:
Balance Forward:
(before taxes, title, license and fees)
Vehicle:
VIN:
Mileage:
Total Trade Allowance:
Total Trade PayOff:
Option 1 - Lease
$0.00
$2,000.00
$4,000.00
$471-$491
$412-$432
$353-$373
$459-$479
$403-$423
$349-$369
This is an initial customer proposal. The figures presented are based on estimates. Rates subject to credit approval.
Signature:
Date:
Accepted By:
Here's the numbers I was quoted if it helps, but I didn't go for them. I like to lease one and finance one to free up mileage...G37 is now on finance so I can drive it like crazy assuming the Acura uses up the 12k allowance.
In TX we have to pay tax on the full price twice when leased and then purchased. This tipped me towards finance. They work some tax trick on some leases where they offset most of the sales tax so the consumer only pays a 1.25% fee vs. 6.25%. I only mention this if it helps to understand the numbers. Note the gamesmanship...I ended up at a different dealer.
"Here are the lease numbers calculated at 10K miles per year. The down payments are plus first payment for total out of pocket.
The money factor for the 36 month lease is .00194 with a 64% residual.
The money factor for the 39 month lease is .00201 with a 63% residual."
Description: 2011 Infiniti G37 Sedan 4dr Journey AT [91311]
<img id="Body_imgCertified">Certified Pre-Owned
Mileage: 0
PRICE
TRADE
TRADE
$37,526.00
$37,526.00
$0.00
$37,526.00
$0.00
$0.00
$37,526.00
Vehicle:
VIN:
Allowance: $0.00
Payoff: $0.00
Total Trade Allowance:
$0.00
$0.00
WHICH PAYMENT WORKS BEST FOR YOU ?
Cap Reduction <img id="Body_imgLeaseArrow">
Annual Miles 10000
36 Months
$0.00
39 Months
$0.00
Annual Miles 10000
Term
Lease Cash
36 Months
$0.00
39 Months
$0.00
$0.00
$2,000.00
$4,000.00
$471-$491
$412-$432
$353-$373
$459-$479
$403-$423
$349-$369
This is an initial customer proposal. The figures presented are based on estimates. Rates subject to credit approval.
Signature:
Date:
Accepted By:
Last edited by Coprolite; Dec 30, 2010 at 09:25 PM. Reason: sorry for the lease formats...also fixed Accord reasoning.
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Joined: Dec 2010
Posts: 7
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From: NYC
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Joined: Oct 2010
Posts: 3
Likes: 0
From: Eastern PA
I just picked up my G37x (with navigation and premium packages) yesterday. Here are the details of my lease:
Annual Mileage: 15K
Term: 36 months.
Drive Off: $3100 (this includes all fees, cap cost reduction, first month payment, etc).
Monthly payment: $366.28
To get a decent deal on a lease, you need to nail down a lot of moving parts:
--Annual mileage (you decide this)
--Lease term (you decide this)
--Amount of cap cost reduction you're willing to pay (you decide this)
--The exact car you want (i.e. exact features you want).
--Upfront fees/deposits, etc (look on internet...may take some searching. Make sure they dealer dosen't charge you for something unnecessary).
--State tax rate for leases (some states have different rates for leases...PA does!).
--Capitalized cost (get this from Edmunds...their "True Market Value")
--Money factor (there is a different MF for each lease term...Infiniti publishes these each month...may take some internet searching to find.)
--Residual value (there is a different RV for each lease term and annual mileage...like, MF, Infiniti publishes these each month...search for on internet).
Once you've nailed down these parts, the price is automatic (just plug inputs into a lease calculator). There is no wiggle room for the dealer. However, if you are missing one or more of these pieces, then the dealer has room to charge you more money. The most difficult things to find are the Money Factors and Residual Values. They are out there, but they take some searching (and make sure you have them for the current month).
Good luck to you!
Annual Mileage: 15K
Term: 36 months.
Drive Off: $3100 (this includes all fees, cap cost reduction, first month payment, etc).
Monthly payment: $366.28
To get a decent deal on a lease, you need to nail down a lot of moving parts:
--Annual mileage (you decide this)
--Lease term (you decide this)
--Amount of cap cost reduction you're willing to pay (you decide this)
--The exact car you want (i.e. exact features you want).
--Upfront fees/deposits, etc (look on internet...may take some searching. Make sure they dealer dosen't charge you for something unnecessary).
--State tax rate for leases (some states have different rates for leases...PA does!).
--Capitalized cost (get this from Edmunds...their "True Market Value")
--Money factor (there is a different MF for each lease term...Infiniti publishes these each month...may take some internet searching to find.)
--Residual value (there is a different RV for each lease term and annual mileage...like, MF, Infiniti publishes these each month...search for on internet).
Once you've nailed down these parts, the price is automatic (just plug inputs into a lease calculator). There is no wiggle room for the dealer. However, if you are missing one or more of these pieces, then the dealer has room to charge you more money. The most difficult things to find are the Money Factors and Residual Values. They are out there, but they take some searching (and make sure you have them for the current month).
Good luck to you!
Registered User
Joined: Oct 2009
Posts: 244
Likes: 1
From: Ohio
I just picked up my G37x (with navigation and premium packages) yesterday. Here are the details of my lease:
Annual Mileage: 15K
Term: 36 months.
Drive Off: $3100 (this includes all fees, cap cost reduction, first month payment, etc).
Monthly payment: $366.28
To get a decent deal on a lease, you need to nail down a lot of moving parts:
--Annual mileage (you decide this)
--Lease term (you decide this)
--Amount of cap cost reduction you're willing to pay (you decide this)
--The exact car you want (i.e. exact features you want).
--Upfront fees/deposits, etc (look on internet...may take some searching. Make sure they dealer dosen't charge you for something unnecessary).
--State tax rate for leases (some states have different rates for leases...PA does!).
--Capitalized cost (get this from Edmunds...their "True Market Value")
--Money factor (there is a different MF for each lease term...Infiniti publishes these each month...may take some internet searching to find.)
--Residual value (there is a different RV for each lease term and annual mileage...like, MF, Infiniti publishes these each month...search for on internet).
Once you've nailed down these parts, the price is automatic (just plug inputs into a lease calculator). There is no wiggle room for the dealer. However, if you are missing one or more of these pieces, then the dealer has room to charge you more money. The most difficult things to find are the Money Factors and Residual Values. They are out there, but they take some searching (and make sure you have them for the current month).
Good luck to you!
Annual Mileage: 15K
Term: 36 months.
Drive Off: $3100 (this includes all fees, cap cost reduction, first month payment, etc).
Monthly payment: $366.28
To get a decent deal on a lease, you need to nail down a lot of moving parts:
--Annual mileage (you decide this)
--Lease term (you decide this)
--Amount of cap cost reduction you're willing to pay (you decide this)
--The exact car you want (i.e. exact features you want).
--Upfront fees/deposits, etc (look on internet...may take some searching. Make sure they dealer dosen't charge you for something unnecessary).
--State tax rate for leases (some states have different rates for leases...PA does!).
--Capitalized cost (get this from Edmunds...their "True Market Value")
--Money factor (there is a different MF for each lease term...Infiniti publishes these each month...may take some internet searching to find.)
--Residual value (there is a different RV for each lease term and annual mileage...like, MF, Infiniti publishes these each month...search for on internet).
Once you've nailed down these parts, the price is automatic (just plug inputs into a lease calculator). There is no wiggle room for the dealer. However, if you are missing one or more of these pieces, then the dealer has room to charge you more money. The most difficult things to find are the Money Factors and Residual Values. They are out there, but they take some searching (and make sure you have them for the current month).
Good luck to you!
and if you can get Multiple Security Deposits (completely refundable) that will lower the overall cost of your loan and drop your payment.
Never put money down (that you can't get back) on a lease.
Registered User
Joined: Dec 2010
Posts: 437
Likes: 1
From: NYC
Registered User
Joined: Oct 2010
Posts: 3
Likes: 0
From: Eastern PA
Not sure what you mean by this. You mean cap cost reduction? From my calculations, the opposite is true. The more you pay up front, the lower your overall outlay is over the term of the lease. Considering that my money factor equates to about 4.08% and I am not earning anything close to that in my bank account, I am better off, over time, making the maximum cap cost reduction payment up front. (BTW, I didn't do this in my current lease, but I would have paid less over the 36 months if I had). 
Last edited by kontango; Jan 5, 2011 at 12:04 AM.
Registered User
Joined: Dec 2010
Posts: 437
Likes: 1
From: NYC
Not sure what you mean by this. You mean cap cost reduction? From my calculations, the opposite is true. The more you pay up front, the lower your overall outlay is over the term of the lease. Considering that my money factor equates to about 4.08% and I am not earning anything close to that in my bank account, I am better off, over time, making the maximum cap cost reduction payment up front. (BTW, I didn't do this in my current lease, but I would have paid less over the 36 months if I had).
Last edited by Chico; Jan 5, 2011 at 09:21 AM.
Registered User
Joined: Jan 2010
Posts: 706
Likes: 0
From: Riverside, CA
Putting money down reduces the cap, which lowers the depreciation and you get lower monthly payment. The problem is that if you total your car, the insurance company will pay only the remaining balance on your lease, so whatever money you pay up front will be lost. Not putting money down rolls the entire depreciation into the lease, therefore you're covered in case something happens to the car. But, if nothing happens to the car in the life of the lease, then it makes no difference.
your insurance pays the value of the car, they don't pay loan amounts. If you crash your car and it's valued at 30K you get 30K to replace the car...if you owe less you get that money, if you owe more you lose. Just like...if you did a loan.
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Joined: Oct 2009
Posts: 244
Likes: 1
From: Ohio
Not sure what you mean by this. You mean cap cost reduction? From my calculations, the opposite is true. The more you pay up front, the lower your overall outlay is over the term of the lease. Considering that my money factor equates to about 4.08% and I am not earning anything close to that in my bank account, I am better off, over time, making the maximum cap cost reduction payment up front. (BTW, I didn't do this in my current lease, but I would have paid less over the 36 months if I had).
what I mean is if your state allows Multiple Security Deposits to put $$ down on a lease, use them. My state allows up to 9 MSDs at $500 a piece. That means I can reduce the overall cost of the lease including the monthly payment using those MSDs, and those MSDs are refunded to me after I turn the car in.
it does save you $$.
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Joined: Oct 2009
Posts: 244
Likes: 1
From: Ohio
so you bought your Lexus in Texas and used the MSDs, but the Texas Infiniti salesman wasn't aware of them?
talk to the sales manager, the MSDs apparently are valid in Texas, but your sales rep doesn't know how to do a lease. My sales rep here in Ohio didn't know about them till I explained them to him. And they are legal here in Ohio. Not everyone knows about them.
