I negotiated a price of $37,000 for G37 Journey with Premium package, wood trim, and performance tire. I live in Guam and everything is priced with a 4% GRT (tax) inclusive so the $37k includes that. The rep and I had agreed on the price yesterday and he had told me that he'll get back to me on the monthly payment on a 36 month lease with $3,500 down.

He called me this morning and told me that the monthly payment would be $649 and gave me a residual $ amount which translated to only 46% residual after 36 months. I told him that this is way too higher and I want a detail breakdown of how he arrived at $649. I asked him for the money factor and he pretended like he didn't know what I was talking about and that it's confidential and cannot be disclosed. I told him the residual, money factor, and monthly payment that I had obtained through various websites and he then went on to calculate a bunch of numbers that made no sense. I said there is absolutely no way that the monthly payment is $649, when they had advertised on the newspaper that a G37 with a MSRP of $36,600 is to be leased at $479 for 48 months. My price is $37,000 and I'm paying $649 for 36 months?! His next argument was that the $649 includes shipping and handling and GRT (tax). I called him out and said that all those costs should be included already in the $37,000 already but he would not budge. I demanded to speak to the lease manager (which he said is out of the office for the next few days).

I got the email address for the lease manager and emailed him requesting for a detail explanation on how the $649 was arrived at. I'm extremely offended and want to ditch this dealer. Unfortunately there is only one Infiniti dealership on island and I might have to go for a 328i if that's the case.

 

What happened to the lease offer on the Infiniti website, $379/Month - 39 months?

 

i think it's 479 but ya wow. that's a horrible deal. and yes i believe ur getting screwed royally,

this offer from corporate expires on 6/1/09 so if u like the corporate deal might need to work things out sooner

 

I would not finance through the dealership. Find a credit union that will give you <= 4% and extend it over 5 years. That should net you $2K off the cost of the car which they are still over pricing (you should be able to get that car for around $34,000 [that number includes your 4% tax.])

 

Why finance? Waste of money

 

They have to fully disclose the lease rates before you sign. My salesman did the same thing and as I asked questions along the same line you are asking, the lease numbers magically got lower. As I drug my feet, they called back with even better numbers. There are some web-sites that let you calculate the lease payment. What I did was take the Infiniti corporate discloure info details and from there you can determine the money factor and capital cost reduction (discount). Then using my MSRP, discount, money factor, you can determine what your lease payment should be.

Personally I did not lease, but I like to fully understand all options.

 

Now a days maybe, but < 4% for 5 years was a good deal when you could get a 5 year CD for 5.5%. You actually make money! This works for any loan where interests rates on the loan is lower than you can get on a CD with the same term. Even if the loan is 4% and the CD is 4.01% you still make some money.

 

Or just pay cash and dont worry about loans.

 

Uh yeah, that is terrible. The residual should be around 60%... and the APR should be around 4-5%. With 3500 down that should be in the high $300s or low $400s per month ballpark.

Check out the 39 month lease numbers too... they were way better than the 36 when I got mine.

 

See my post above, sometimes it is wiser to put your cash you would pay for the car into a CD and take out a loan for the same amount.

 

I would be surprised to see a CD even doing 3.5% right now.
Your plan would never work. If you get a CD for 40k and loan for 40k.
1. You cannot take money out of the CD every month.
2. Everything you take money out, you will be earning less interest.

Unless you are saying put 40k in a CD for 5 years and take out a loan for 40k, and still pay the 700 a month. In that case, most people dont have money like that.