Chrisl0515

Hey,
i'm about to get a new g37 sedan Journey but am wondering if i should buy or lease the car. Is this a good deal for a new G37 w/ these options 38,805 OTD?
2009 G37 SEDAN JOURNEY 4DR AUTO
BLACK OBSIDIAN, GRAPHITE
AE1 AERODYNAMIC PACKAGE
CGO TRUNK CARGO NET
IKP ILLUMINATED KICK PLATES
NAV NAVIGATION
PRM PREMIUM PKG
TIR TIRE AND WHEEL PACKAGE
38,805 OTD Purchase price

I'm using a 4.1% APR through the bank which will save me a few hundred bucks compared to the dealers 2.9%.

brynomon

Look it up on edmunds.com. It doesn't sound like great pricing to me. Some dealers are doing up to 1k below invoice right now.

Chrisl0515

Edmunds is saying 37,510 for invoice.. decisions decisions

cullan

Not sure what the TIR tire and wheel package is so I excluded that but I got an MSRP of $40,470 and an Invoice of $37077 from Edmunds

When you say OTD I don't know if that incudes some sort of sales tax or not. I see you're in SF (which I assume is San Fran) and means you have a sales tax rate of around 8.75% now. If that includes sales tax at this rate then the price of the car is $35682 which is def a great deal. Somehow I don't think this includes tax though.

Also OTD might include license, fees, etc. Let us know what the actual selling price of the vehicle is

yuenchiu6

I would say the price is ok since the tax is almost 10% for most cities in Bay Area. There is a 5K off, so that it is a good deal

Chrisl0515

Yeah the Tax in the Bay Area was increased ever since April 1st to 9.5%. OTD is the Out the Door price i got that included sales tax and license. Should i Lease?

yuenchiu6

It really depends on the money factor you got. You can multiply the money factor by 2400 to get the APR. If you get the lower payment on buying, go for it.

PS: which city are you in?

Chrisl0515

i'm in San Francisco. Do i multiply 2400 by the total price of the lease offer to get the APR?
Thanks

cullan

The question to buy or lease should really come down to your habits and needs.

You should lease if
-You drive less than 15K miles a year and this is pretty constant.
-You want a new car every 3 years roughly
-You aren't planning on making major modifications

You should buy if
-You plan on driving a lot of miles
-You typically drive a car for 5 years or more (this is a rough figure)
-You want to make modifications

The lease prices on Infinitis are really really good. That's why I chose this car over a couple other choices. Infiniti sets the APR and Residual value. The only real variable is the selling price for the customer.

The question to buy or lease really isn't a matter of price... it's a matter of how you plan on using the car.

There are other things that a lease is good for. If you own your own business you can write some of it off because it is only depreciation that you are paying on the car.

The residual and Money Factor are usually accesible at leasecompare.com They change monthly.

Then you can use a calculator like this one to check what your lease payment would be: http://www.leaseguide.com/calc.htm

Here are the April numbers
2009 Infiniti G37 Journey Sedan – 4/09
24 Month – Residual 56% of MSRP – .00325 Base Rate
36 Month – Residual 56% of MSRP – .00178 Base Rate
48 Month – Residual 47% of MSRP – .00260 Base Rate
60 Month – Residual 40% of MSRP – .00243 Base Rate

So, the 36 month is by far the best deal. The others are not even considerable they are so bad.

The MF of .00178 which means the APR = 2400 * .00178 = 4.272

If you purchased the car for invoice price of 37077 (from my calcs) then your monthly payment with nothing down (except frist months payment, license, title, etc.) would be around $554 after 9.5% sales tax. You can reduce this figure by putting money down or by reducing the selling price

That is not a bad deal, but the coupe tends to have a higher residual value and therefore a better monthly payment.

Hope this all helps. I know it's a lot to take in, but spending a day running numbers will save you a lot in the long run. Use the calculator I linked above. Don't be afraid to bring a laptop to the dealer and run numbers with them. They try to make you sweat, but if you're informed on your decision points then you'll end up winning.

So first decide if it's best for you to lease or purchase, then you can work on the best deal.