my lease offer is 2014 infiniti q60 awd with premium package
for 3849 down payment includes bank fees and first month payment. / 309 monthly for 39 months. 10k miles a year
after 39 months i have the option to buy out the car for 27k (finance it)
I'm going to talk to them and try to add on the navi package swell
my credit score is 790

is this a good deal to lease this car then end up financing it?

need opinions please

 

Hot button topic. There are good reasons to go either way. However in the long run if you are trying to be as financially savvy as possible, purchasing a car and keeping it long term makes the best financial sense. You could also lease then finance the residual and purchase the car if you like it. Leasing a car, turning it in, then leasing another makes as much financial sense as renting an apartment vs buying a house in most circumstances. You'll perpetually pay for something that will never have value to you as an owned asset. But you'll always have a new car every couple of years. I've leased vehicles and equipment for a business when it made sense because the depreciation have a tax advantage.

 

yes, i was thinking about leasing the q60 then buying it for 27k (financing it), i want to keep end up keeping the car. you think with my above description / offer its a good deal?

 

I sell cars, there are pros and cons to everything. If you want to MOD the car, finance. But most the time leasing is better. As Warren Buffet (the billionaire investor) says, you want to lease depreciating investment (Boats, cars, ect) and you want to own appreciating investments (Homes, Condos, Land, ect)

Leases are typically 10K, 12K, 15K & 18K annually. If you can stay in the mileage I say lease. Every I work with leases and my next car will be a lease. You get a new car every 3 years, new technology, new warranty (never pay for repairs, unless in an accident) and you get way more car for your money.

If you can't stay in the mileage (I have seen a 60k annual lease, but that doesn't make financial sense to me) finance, if you want to MOD finance or if you want to hold onto the car for a long time. DO NOT lease and then buy the car. Everyones situation is different, but you lease a car for 3 years, make payments on it for 3 years, then finance the residual for another 5-6 years (potentially) so now you are making car payments on the same car for 8-9 years and at some point it will be out of warranty so you are paying a monthly payment and for repairs which is never a good combination.

Once I have paid off my G, I will most likely finance my next toy. Because I will not trade in my G or sell my next toy...I may lease to buy (I know what I just said, but again, everyones situation is different), but only because I put low miles on it, it is not my daily driver and I'm not sure what my finances will allow in 4 years.

In my opinion if it is your daily driver lease, especially if you have a family, lower monthly payment, warranty and new safety technology every 3 years. Most people in the business lease cars and to tell you the truth, I would have never considered a lease before I started working here, but now that I know more, I will be leasing my next daily driver.

It's a personal choice, there is no right or wrong answer, just what's right for you. In the past, upon returning a vehicle manufacturers would hit you with a lot of fees, now a days, as long as you're not over miles, there is no major damage the only fee you will pay is a disposition fee but only if you do not lease another of the same manufacturers car. If you go from Infiniti to Infiniti no disposition fee. Ask the dealer what the damage allowance is, money factor (interest rate) and residual before buying. And it doesn't matter if you put a lot down in the beginning of a lease and have a lower monthly payment or put nothing down and have a higher monthly payment, the same amount comes out in the end. Unless you have sales tax, then the monthly payment is taxed.

It's a personal decision, hope I helped, if you have questions I'd be more than happy to answer them, if this wasn't helpful, no worries, my bad

 

I think it is a good deal, but it's perception, what one thinks is a good deal, the other may not. If it's an advertised price, those are called "loss leaders" they are designed to get people in the door, you may lose money on that deal, but you have a customer and if they can switch you to another car then they can make money, so that is probably a really good deal

 

you helped me a lot, I'm a college student, my college is 5 minutes away, i work with my dad, my work is 5 minutes away, i go to the gym, so like 3 things i do everyday is work school gym all within less then 6 miles from my house. i know for a fact i won't go over the miles. 10k miles a year / 39 months is about 830 miles month. i won't go over that. ALSO , my dads best friend is a professional financial advisor, he's gonna come with us and he's going to talk out the deals with the dealership to get my the best deal / lowest deal.

 

If you do that little driving and are in college I would say lease. In 3 years, you (with any luck) will have a better job (not saying you have a bad job, IDK, just saying) or at least making more money at your job you have now and may be able to afford something different.

The car you lease will go through some abuse at college with kids climbing in and out, maybe some drunk nights, maybe some puke. Then turn that car in and get a new car, finance or lease, see what's better for you then. That is one great thing about leasing, low commitment.

Also, advertised deals are usually what they are, they can't usually do better, so don't be disappointed if it doesn't. I hope you get the best deal you can, do some research, ask about rebates and incentives and programs that are going on. Also, the way leasing works, as the year progresses lease deals tend to get worse. This is because the vehicles are viewed by the bank as older (technically) so the residual goes down which means your payment goes up. So don't wait til next month if you are going to lease. This is not always true, sometimes they have great promotional programs but it's pretty spot on, so again, if you're leasing, now is the time.

Let us know how everything works out
IMHO

Let me know how it works out

 

yes i will deff let you know how it turns out, in 3-4ish years i will be hopefully in the NYPD, i for travel and long distance trips etc i will be taking my dads car instead of the infiniti. the infiniti will be used for work / gym / going out on weekends and I'm still debating on school. i might just take my dads car to school, my friends new car got all scratched up at school. I'm not willing to take that risk especially if i know I'm going to end up financing the car for myself. thanks for the help , appreciate it.

 

It sounds like for you leasing is your best bet, but watch it when you and all your friends decide to take a road trip to White Castle........................

 

haha I'm going to treat it like my baby since I'm going to end up buying it.

 

I have another question, how are infiniti with their resale value (residual value) ? how high do you think the resale value of he q60 awd fully loaded will be ? in your opinion will it be high or low ?

 

Isn't the residual value just the amount thats left over after negotiating the lease?

I Leased my 2013 G37S Fully Loaded for 2 years. 15,000 a year.

My Mo Payments are 385

My residual Value coming up at the beginning of October is 31,000

I spoke with someone who said when I receive the option to purchase or extend the lease 6 months that there would be an additional 4500 discount since they changed the name from G to Q which now makes mine a dated model. This actually sounds like I may have gotten lucky. Everyone who is now buying a Q with the same body style i'm thinking won't be given that 4500 discount for the name change.

Other question would be since I contracted 30,000 for 2 years will the residual value go up if I don't use all 30,000 miles? I will most likely be around 20,000 when my lease term ends?

Thanks!

 

With a lease you do not get money back for not using all the miles. The residual is fixed, if you're getting another 4,500 off consider yourself lucky, I've never heard of that

 

I really don't know, the way leasing works, you pay just the depreciation, you'll probably be looking at above 30,000.

A good rule of thumb is every 1,000 you finance (finance not lease) equals about 20 on your monthly statement. It's really about 15-17, but we use 20 as a worse case scenario so if you buy you car after the lease, assuming taxes, fees & residual equal 30,000 & you finance for 60mo you could be looking at $600 a month. Roughly speaking & prob worse case scenario

Again, I would not suggest lease to buy, but u have time to figure it out

 

I don't understand leasing a car and then buying it out. If you want the car but don't want the payment that goes a long with it, why not just look for a used vehicle that is less than the price that your car would be at the end of the lease and just finance it for 5 years. To me the point of a lease is to have a low payment, put little to no money down and then get something different in 2-3 years. Once my income increases I may look into leasing a car such as a MB or BMW or something with all services included. Or take advantage of the cheap 199 or less leases offered on a Camry or something for a daily and purchase a weekend car.