DAlba1

Hi I am looking to lease G37 Journey with Premium and Sport package.
36 Months
$0 Down Payment
20k miles

One dealer told me that residual goes from 61% to 57.4% for extra mileage while another dealer told me that the residual stays the same but monthly payment goes up $25.

So how do make sure I am not getting screwed?

Also how accurate is Infiniti's online lease calculator because it seems to give me much lower payments than what dealers are giving me.

So what kind of monthly payment should I be looking at with the above configuration not including local sales tax?

RIDEwithG

The Residual goes down because of the extra mileage.
The 2nd dealer is on crack. Either way, you will be paying for the extra mileage. The lease calculator is crap as well.
Best way to know what you are paying is to get a low sale price, find out the residual value and the money factor. For 36 months, its .00192.
You can calculate your own lease a lease formula. There is a lease calculator at the bottom of the page as well.

DAlba1

So how does the dealership figure out the residual with the extra mileage? Is this set by Infiniti?

RIDEwithG

Residuals and Money Factors are set by IFS. Dealers have the option to bump the Money Factor, but I believe the residual value is set. I'm pretty sure there is a way for them to estimate the residual based on how many miles you drive and how many years you plan to lease. Generally speaking, doing anything more than 15k mile/yr is going to cost you quite a bit. Sometimes, it may cost you more to do a 20k miles/yr lease than being charged for going over your miles. Say, for example, you lease the car for 15k miles/yr but put 5k more miles every year. Then say you get charged .20 cents per mile you go over. So over 36months, you will drive 15,000 more miles at $.25 per mile (I think it might be $.20), which is a $3750 penalty. Now, all you have to do is find out how much more per month a 20k mile lease is over the 15k mile lease. If its more than $105, you're better off leasing for 15k miles and driving it as much as you need/want.

Mike

iTrader: (1)

Residual is set by the bank for 15k miles. Depending on the term and miles selected (10k or 12k), the residual can go up by 1% or 2%.

If you'd like more than 15k miles per year, you are pre-paying $.10 per mile, as opposed to paying more for the penalty.

We do leases for 18k and 20k all the time.

DAlba1

Thanks Mike, so with 36 month lease, the residual (61%) does stay the same after 15k miles? Is the $.10 per miles just calculated and added to purchase price or is it added to fee's or what? Do you ship to other states?

DAlba1

One more question, is it possible to get the discounted mileage rate $.10 but not buy them up front and just pay it at lease end?

Mike

iTrader: (1)

The residual drops by $.10 per mile you add to the lease.

If you added 10000 miles to the lease, your cost on that would be 1000 dollars; the residual would also drop by 1000 dollars.

You can only get the $.10/mile rate when you pay up front.