asianpokerpro

Hello everyone,

I am from IL. I went to infiniti on friday and decided to get a 2011 G37X Coupe with sport package, nav and premiem package. Sticker is 48200. We got it down to 45000 firm on a finance plus tax if we wanted to buy. However, they also shot me what seem like a decent lease offer.

The lease offer is 39 month and here is what they are offering. Down payment of 2500 which includes license, doc, first month payment and roughtly 1400-1500 on cap reduction. monthly payment for the remaining 38 month would of 610 even. They are giving me 25000 miles to drive a year and the end residual is 26871. Just wanted to see what you all think. Thank you

This car is fully loaded and i love it, wanted to see if this lease deal is legit and also if i decide to buy is $45000 a good price? I mean invoice is at $44,300. The sales told me there are only three AWD XS coupes in the area with only one being white. He said if I chose a base journey coupe he would do invoice price no problem but due to the supply and the earthquake in Japan he said its going to be a while for another fully loaded coupe to be delivered which made sense. PLease give me your feedback on the purchase or lease offer.

SlateBlueG37x

Where in IL/which dealer?

Ibanez540r

iTrader: (1)

I guarantee you that everyone is going to ask for Cap Cost, Residual, & Money Factor if you want a serious review/answer.

da mayor

iTrader: (2)

it's supply and demand right now... you can shop for a price all you want but it comes down to who does have that packaged' coupe unforutnately.

someone will pay more right now to get what they want

jmward21

seems high on the lease, but 25k miles is a lot, so the price may be right. You're ~$1k over invoice which would have been high 2 months ago, but I'm not sure now.

I calculated the residual to be .5575. To get a payment of 610 with your money down I show a money factor of ~.00185 or 4.44% APR. I did these calcs using 6.5% tax, so a different tax rate will affect the MF to get the correct payment.

Since I don't know the residual or MF for a 39 month 25k mile lease, I really can't tell you if this is a good deal not.

asianpokerpro

JMWARD21 thanks for your help. Well there is a shortage of g37x with sport package there are only a few in illinois. most chicago land dealers i called dont even have a g37 coupe period. Anyways, since it was a lease, the dealership said we have to lease at 46000 because they lose out on 1000 rebates from infiniti. if i buy it would be 45000. Anyways sales tax in my area is 7.25%. Car was leased at $46293+595 aquistion fee-1500 cap reduction. Monthly payment comes to 610.22 a month. with this being said what is the money factor ? IT does not show on my form. What you all think on the deal since i am getting 25000 miles to drive vs most who only get 12 to 15k in miles. Residual at the end of 39 month is $26700.

THanks

jmward21

Do you need all those miles? If you don't use em, you lose em. Don't let the dealer talk you into paying extra if you don't need it.

Just for reference I leased my car on Feb 27, 2011. I got a G37xS with nav, kickplates, and splash guards. The MSRP was $48,000. I got a 39 month lease with 15k miles per year. My payment is $445.

What was your out of pocket? I think you rolled the fess into the lease. So it looks like your net cap was around 45.4k. Using the net cap your out of pocket was 2110 (1500+first month). I show a mf of .00125 (or 3% APR).

Rolling fees into the lease, then putting money down, just seems like a dealers way of getting more money out of you. You could have just paid the fees up front and reduced your money down. I guess it's not that big of a deal, but you pay taxes on cap reduction while you wouldn't if you paid the fees up front (we're talking like $15).

So long story made short. You got a great MF, but the residual is high (due to the high mileage). Your $1800 over invoice which is crazy to me, but again it must be that the car is in high demand. My advice would be to contact another dealer to just see where their prices are at. I got mine for $750 under invoice less than 2 months ago.

asianpokerpro

hey bud,
thanks again for the reply. Yes i believe they rolled 595 aquistion fee into the car. In terms of miles, i defintely need it. I mean my last three cars I averaged almost 30k in a miles a year. The figure in 39 month the car would have about 80kplus in miles when I turn it in so is 26700 residual a high or low residual? Or are you referring to the cap-residual being high. Anyways, they are a very reputable dealership in chicago and they are very professional. Cap reduction was only $1500 on the paper work because 610 went to first month payment and the rest were for plates/license/doc fees totalling 2500. I mean this makes sense right? I called three dealerships who all said if i want a specific color of g37xs coupe with nav if there isnt one it would be the end of july or aug til japan ships more over due to the earthquake.

So I guess supply is low right now. BTW JM, how much did you put down? And also the dealership seemed very legit they were even like dude do you need that many miles? IF you dont we can do $530 a month and give you 15k but that is before haggling.

ONEighty

iTrader: (15)

Jees, NYC has it good w/ leases... they're giving G37xS coupes away right now between $420 and $450 for 2 year leases with $2500 due at signing said and done, get in and drive off. I'm slowly starting to see more 2011's than 2010's.

jmward21

I paid all fess up front and added ~600 to reduce cap. Total was $2k even. My net cap was ~$42.5k.

I took another look at all your numbers and I added tax to the down payment. see the attached pdf. The first calculation is your current offer (as close as I can get it). the second is the payment by simply paying the fees up front and reducing you down payment (same out of pocket, just a play on numbers).

The third and forth are your payments if you can negotiate a better cap cost. I still they are really high and your starting cap. But if you are dead set on those options and they have the only one, they are gonna stick it to you because they know they can.

glassjaw047

I paid $2600 up front (taxes, fees & first months payment). MSRP at $48,000. Selling Price at $42,000
36 month lease. 15k miles per year. $425 a month.

This was for the month of February. Going to be totally different now with the whole earthquake in japan & production being slowed down & whatnot....

Good Luck!