apontaza

So I'm planning on upgrading from my 06 G to a new 2011 G37S coupe fully loaded. I have many questions since I have never leased a car before so some help would be highly appreciated thanks.

What kind of negotiating can I do on the final sticker price listed? What happens if I decide to keep the car after the lease is up? Do they offer financing for that or am I on my own when the lease is up and it's time to decide whether to keep it or not? What's a good residual value is higher or lower better? If I decide to trade my car in what happens to the equity I have on it?

I know I might be asking many repeated questions from other post sorry. Some help would be highly appreciated ...

What numbers should I expect for my monthly payment and down payment?

ANMVQ

iTrader: (13)

OK simple tell yourself a number you can afford a month( $400 or under) and do not excede that, The residuals on our car are pretty high so the money factor will be in your favor. IF and I mean IF you have equity in you car( Most likley on if you own it) you can put all of it or some of it towards the new car, But I now some dealers are doing sign and drive deals where you put nothing down.. My got it or her sedan and pays $385 a month w/tax included.. Oh always make sure the price they give you includes tax,,

Funny thing is I'm doing the same thing as you..

carz

1) understand how a lease works. from a very high level perspective....the payment comes from initial price of the car minus its value after X months......times a money factor....divided by X months. I may have skipped a step....but for the most part thats what you need to know.

the initial price of the car can be anything....dont work at the MSRP and go down....work on the invoice price. Sometimes you can get lower than the invoice price....but i wouldnt let them go any more than 500-1000 over invoice.

2) Money down and total out of pocket are 2 different things.....money down is how much you want to pay from the initial price....total out of pocket is your total after fees, taxes, etc. generally....most people will say only pay taxes and fees, dont pay any cap cost. However if you pay a cap cost deduction....it will lower your payments. personally Ill pay 3000-3500 total out of pocket.

3) after your lease ends, you have the option to buy it. they will give you the purchase price when you sign the lease.

4) when you trade in your car......dont tell them until AFTER you've made an agreement on the lease price. and then tell them you want to sell them your car

smash27

When you go to the dealer never tell them you want to lease. Negotiate as if you want to buy the car. When you settle on a price then tell them you want to lease. Ask what the residual will be then ask for the money factor.

Go to New Cars, Used Cars, Car Reviews and Pricing - Edmunds.com it will give you a starting point. Go to www.aaa.com redirect. use there car buying service. Then go back to your original dealer to see if they will match the offer.

Chico

What kind of G37 are you looking for? Where are you located?

Nick3753

To add another lease question, or two. Can you use MSD to lower MF below the base money factor or is it more if they offer you MF above it? Secondly can you use a vehicle trade in to cover MSD, or would that just become money down?

Nick3753

Anyone???

Chico

Yes, you can use MSDs to lower the base MF, depending on where you are. Some states don't allow it. Just make sure that you know the base MF so they don't try to scam you by offering you a higher rate and then lowering it with the MSDs. A trade-in would become part of the cap adjustment (money down) or you can also use it to pay taxes and fees, it's up to you. You have to pay cash for the MSD, you'll get it back at the end of the lease.

Chico

I don' recommend asking the dealer for the MF and residual after you have negotiated the price, since they can raise the MF and screw you that way. Walk into a dealership knowing in advance the MF and Residual of the car you want to buy, also know the MSRP and Invoice. Do research and find about incentives, these can be applied after you negotiate the price, bringing the price even lower.

RIDEwithG

I don't actually think it matters if you tell the dealer you want to lease instead of buy. As a matter of fact, it is ideal that you tell them you want to lease. Some rebates are not applicable to leases, so if the dealer is quoting you a phenomenal price and then finds out you are leasing, you will probably end up disappointed (and mad).

this is what I would recommend to a first time lessee:

1) Learn how leasing works. Read up because it's a lot more complicated than buying a car. Here's a place to get you started: Lease Formula

2) Contact the fleet/internet sales. Floor sales is for chumps. I don't mean to offend any floor sales guys, but there is just far too much worthless back and forth that's extremely tiring. Here's a quick guide I wrote: G’s Guide To Auto Leasing

3) Negotiate the price. Not the payments. Lease payments are derived from the sale price minus the residual value (off MSRP). Then interest and taxes are added. It always helps to get the residual and money factor up front. But if you don't have it, ask for. Cross check with other dealers to make sure you aren't being overcharged (some dealers pad the money factor to charge you more interest). A good place to go is Zag or TrueCar to see how much folks in your area are paying.

4) Determine your term. 24, 36, 39 month? How many miles? 10k, 12k, 15k? Residuals get adjusted depending on how many miles you want. 39month leases are generally cheaper per month, but those of you who have to pay registration every year get screwed on their last year since you pay a full years registration and get to drive the car 3 months, then pay for it again on their next lease.

5) Identify your fees. Bank acquisition, dealer doc fees, local/state fees, tire tax, etc...some are bogus, others are required. Most get taxed. Make sure you know what you are looking ad because for every $1000 extra you pay, that's $30 bucks per month more on your payments.

6) Factor in MSDs if you want. As stated before, some states don't allow them, but most do. Overall, I recommend avoiding too much cap cost reduction (or down payment). Pay your fees upfront and your 1st month then be done with it.

7) Before you sign, you might want to ask for some freebies thrown in, like car washes and oil changes. When I negotiated mine, I got my first 2 years of oil changes covered. That's $50 per 3725 miles. That's at least a few hundred bucks right there.

That's all I can think of right now. Best of luck with your lease!

Nick3753

Any place where one could find out what fees are required and about how much they should be. Obviously tax will vary on location, although can be rolled into the monthly payment without intrest I believe. The help is very appreciated.

RIDEwithG

Normally, Bank Acquisition, Dealer Doc Fee, Tire taxes and DMV registration are required. (plus their associated taxes). The bank acquisition fee for IFS is $595. Everything else varies.