Well I think I'm finally ready to step up to the plate on the g37. Orig. I was thinking about buying but it makes more sence right now for me to lease. Only thing is I have never dealt with a lease before and dont want to get shafted. What kinda of advice can ya'll offer.

I've heard all kinds of terms being thrown around from Mult. Security Deposit to MF and Residuals so can anyone give me a mini idoits guide to leasing.

A little info ... Looking for a 6mt Prem. maybe Nav. Trade in will be a 04 STI Low Miles paid off.

Thanks for any advice in advance.

 

i never lease or trade in any vehicle but i say get the final price on the g37 then talk about the trade in later. do not make a downpayment on a lease, i do not understand why people do that...

 

Get a few quotes, let the dealerships compete for your business.

 

well I wasnt going to put money down persay (traditional thinking) I was reading that MSD would allow me to lower my monthly payments and when the lease is up I would get them back.

Is that Correct

 

Yes. If you're savvy you can earn similar returns on investment in other areas than sinking it into MSDs.

 

1 thing to keep in mind about leasing (which no 1 ever seems to point out) is that interest on a lease is calculated differently.

Let's say that you buy a car for $50 K, & put $25 K down. So you are financing or borrowing $25 K. Assume that the interest rate is 5%.

Say that instead you lease that same car for 3 yrs, & it has a residual value of $25 K. You put $0 down, so you are leasing or borrowing $25 K. Assume that the interest rate is 5%.

Plug in those numbers on any calculator (Infiniti site), you'll find that the interest on the lease is much more, despite borrowing the same amount & at the same interest rate. It's really late now, so I don't have time to explain, but the interest on a lease is crazy, when you compare using the same rate.

 

I think if people look at it more like a rent charge than interest it will help them to understand it better.

 

Where did you buy your car from I see your in CT?

 

Correct I'm not going to sink too much into the MSD just a little the rest I'll take and payoff what little debt I have and Investing the rest.

 

This can be very true, however, the money factor on any vehicle's lease program varies based on model, term, and month. For instance, money factors on leases for 2007 M's and 2008 FX's this month are next to nothing while G37s are attractive for some terms and unattractive for others.

Here's the comparison I would make between buying and leasing your G37:

Purchase
(Total of all monthly payments) + (down payment) + (trade ACV if any) - (what you honestly think you'll sell/trade the vehicle for when you are ready to get out of it)

Also consider how long you'll keep the vehicle if you buy it. You can divide the total cost of ownership by the number of years and you'll be able to estimate what you'll spend annually to drive a G37 if you purchase.

Lease
(Total of all monthly payments) + (down payment if any -- I recommend you only put down what you need to in order to stomach your monthly note) + (trade ACV if any)

Notice you don't have to estimate anything. This is the beauty of a lease. You can divide this total amount by the number of years as well and you'll be able to calculate what you'll spend annually to be in a vehicle just like the purchase.

To be honest, the residuals on G37s right now are stellar but the money factors are still pretty high. If you are leasing for a shorter term then the money factors are stout, but longer terms will result in a pretty high rent charge and less value for you in the overall lease. With the loyalty and conquest incentives on the G37 along with the 2.9/3.9% APR available through the end of this month, I would lean towards the purchase over the lease if you intend to keep the car beyond the end of its factory warranty. If you change your vehicle every two years, then lease. Somewhere in between? Probably lease.

If you need anymore help, feel free to PM me. I sell for Clear Lake Infiniti in Houston but I'm glad to assist anyone even if I don't have a shot at their business.

Justin Galbraith
Clear Lake Infiniti
jgalbraith@clearlakeinfiniti.com

 

Pretty good site with lots of info and a great calculator once you've figure everything out.

http://leaseguide.com/

Whatever you do, negotiate the price of the car first. You should be able to get invoice or $500 over. There is a $500 rebate right now as well. The money factor (interest rate) and residual (cars value at lease end) are set by Infiniti each month. You can find these numbers on this site and make sure the dealer isn't inflating the MF or deflating the residual. Once you know what you want to pay for the car and all of the numbers involved, you can go into the dealer and basically lay out what you want. If they won't do it, someone will.

Good luck.

 

Thank you all for all this great info. Even with the great lease incentives right now, I'm trying to be level headed and not get in over my head because of the excitement of jumping in a G37. Besides, I'd like to put away enough to keep my monthly payments under 500 if possible. (yes i know, don't chase monthly payments)