mikedcusa

Hi All,

I am new to this forum, and new to Infiniti in general. After much shopping around I have decided to lease a new G37x. I am located in New York, and would really appreciate if you could please give me whatever input you might have regarding the deal I have negotiated?

2012 G37x Sedan
Premium Package
Navigation
Illuminated kickplate
Mats

MSRP $43,835
Cap Cost: $37,840
Residual: 56%
Money Factor: .0008

$2,460 Down + $329 1st month + $211 TTF = $3000 Due on delivery
-$2000 for trade
=$1000 OOP

$329/mo. for 39 months, 10k miles/yr.

I thought this was a great deal, and definitely much better than any of the competing manufacturers deals out there. Please let me know your thoughts!

Thanks!

jddssc121

they're soaking you BAD on the Money Factor. May's base rate is .00001


w/ the base rate your payment would be rouglhy $280..... (assuming your cap cost listed is BEFORE the $2,460K reduction. If it's AFTER the reduction, then you're getting ripped off on the selling price as well)


Walk away

da mayor

iTrader: (2)

no the $2400 he's referring to the taxes and fees up front for NY, and the rate is correct for AWD 39 month lease.

jddssc121

If that $2,460 is not cap reduction, but rather up front taxes, the math doesn't add up for his monthly payments. Something is wrong with his numbers above.


the rate jumps from .00001 to .0008 for 3 months extra lease??? (going from a interest rate of 0.024% to almost 2%).

If so, why would anyone touch a 39 month lease? even if he typo'd .0008 and meant .00008, a 36 month lease w/ .00001 would net lower monthly payments (and that's before adjusting the residual up for the shorter lease term)

mikedcusa

The $2460 is a down payment/cap reduction, it's not the taxes. The rate is .0008, which from what I understand is about 1.92% APR, but your saying I should expect to get .0001 or about .24% APR? Is that the normal rate I should be getting right now? Also, the $37,840 is the selling price of the car before any money down. Is this a good deal for the sales price?

Thank you so much for your quick replies and assistance! I'm heading back to the dealer now to see what I can do. I left a $200 deposit last night, and hope I'm not going to have an issue if I decide to walk.

YewWanSum

iTrader: (1)

call a leasing company youll get a better deal...

jddssc121

No, the base rate is .00001. That's FOUR zeros about .024% APR

2012-13 Infiniti Lease Rates – May 2012

Like i said, you are getting WORKED on the rate. Demand base rate or walk. Plenty of other dealers are more than willing to give you the base rate. This dealership is just trying to pocket a bunch of extra cash on your deal



Selling price is a good deal. Just fix that financing headache (and IMHO i never put cap reduction $ down on a lease, but that's a topic for a different thread)

carz

lease price seems about right. id go for it

jddssc121

mikedcusa

OK, I think I've worked it out. First of all, the MF was .00008, NOT .0008. They make it very difficult to follow in their computer because it shows 0.08 in their system, but when they take out their leasing tables it s clearly .00008 for 39 months and the residual for 10k miles should have been 57%, as well. The other issue that I couldn't figure out at first since its not noted anywhere, is the original $329/mo payment INCLUDES 8.625% tax.

With the higher residual now and moving around some figures this is how it looks now:

Cap Cost - $37,859.55
Tax - $1,044.30
Total Cap - $38,903.85
Cap reduction - $2,000 (trade-in)
Net Cap - $36,903.85
Residual - $24,985.95 (57%)
Total Depreciation - $11,917.90

Tax - $60.38
Gov. Fees - $12.50
Advance Pmts - $310.54
Bank Fee - $700

Total Drive Off - $3,083.42
Less Net Trade - $2,000
Cash Due on Delivery - $1083.42

Rate = .00008
Term = 39

Depreciation = $305.59
Rent = $4.95
Monthly Payment = $310.54

So when all is said and done the $310.54/mo payment includes about $28/mo. in sales tax or about $282/mo. before tax.

Does this look/sound right now?

You guys are great! You saved me a lot of second guessing and aggravation! Thank you again!!!

jepva

Yea that looks great. 57% residual is really helping you out there, I would just make sure you're really only going to drive 10k miles/year.

jddssc121

Why pay more than the base rate? You should get the .00001, not any higher.

jepva

You keep saying this in every thread but .00008 is the base rate for 39 the .00001 you quote is for 36, but the Infiniti 39 is the better lease overall. Even still that's a whopping difference of .16% interest and we're talking chump change here.