Lease decision
03-22-2011, 02:57 PM
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Lease decision
Hi,
I'd like to get some opinions on a lease offer I have. My '08 g35x lease is up after July and my local Infiniti dealer wants to get me in a new lease ASAP.
The '11 g37x they're offering has 17k miles a year, premium pkg , NAV, the works..MSRP is $41,890 and cap cost is $39,139. They're giving me $1,000 loyalty $$ spread among cap reduction, first mo. pymt, and doc and license fees. Monthly pymt would be $507.84 with first month paid and 38 months thereafter. Residual and money factor seem pretty competitive.
With a few extra miles left on my current lease my dilemma is trying to drive off those extra miles or eat a few lost dollars and believe them that the 11's that come out in the summer might be a few bucks more. Is there any truth to this or is my trusty salesman just putting the squeeze on me?
Any comments are helpful and thanks for reading.
I'd like to get some opinions on a lease offer I have. My '08 g35x lease is up after July and my local Infiniti dealer wants to get me in a new lease ASAP.
The '11 g37x they're offering has 17k miles a year, premium pkg , NAV, the works..MSRP is $41,890 and cap cost is $39,139. They're giving me $1,000 loyalty $$ spread among cap reduction, first mo. pymt, and doc and license fees. Monthly pymt would be $507.84 with first month paid and 38 months thereafter. Residual and money factor seem pretty competitive.
With a few extra miles left on my current lease my dilemma is trying to drive off those extra miles or eat a few lost dollars and believe them that the 11's that come out in the summer might be a few bucks more. Is there any truth to this or is my trusty salesman just putting the squeeze on me?
Any comments are helpful and thanks for reading.
03-22-2011, 03:01 PM
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Hey,
I signed my lease paperwork the other day...2011 G37x Sedan fully loaded premium and nav package no money down except tax title license fees for 365$ a month. this is a 36 month lease
I signed my lease paperwork the other day...2011 G37x Sedan fully loaded premium and nav package no money down except tax title license fees for 365$ a month. this is a 36 month lease
Last edited by Brooklynstar23; 03-22-2011 at 03:07 PM.
03-22-2011, 03:04 PM
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03-22-2011, 03:05 PM
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10,000 miles a year I tried to get less but they couldnt do it....for what its worth my 2008 Caddy CTS has only 10k miles on it and were almost half way through 2011...
03-22-2011, 03:07 PM
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03-22-2011, 03:09 PM
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03-22-2011, 04:06 PM
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Hi,
I'd like to get some opinions on a lease offer I have. My '08 g35x lease is up after July and my local Infiniti dealer wants to get me in a new lease ASAP.
The '11 g37x they're offering has 17k miles a year, premium pkg , NAV, the works..MSRP is $41,890 and cap cost is $39,139. They're giving me $1,000 loyalty $$ spread among cap reduction, first mo. pymt, and doc and license fees. Monthly pymt would be $507.84 with first month paid and 38 months thereafter. Residual and money factor seem pretty competitive.
With a few extra miles left on my current lease my dilemma is trying to drive off those extra miles or eat a few lost dollars and believe them that the 11's that come out in the summer might be a few bucks more. Is there any truth to this or is my trusty salesman just putting the squeeze on me?
Any comments are helpful and thanks for reading.
I'd like to get some opinions on a lease offer I have. My '08 g35x lease is up after July and my local Infiniti dealer wants to get me in a new lease ASAP.
The '11 g37x they're offering has 17k miles a year, premium pkg , NAV, the works..MSRP is $41,890 and cap cost is $39,139. They're giving me $1,000 loyalty $$ spread among cap reduction, first mo. pymt, and doc and license fees. Monthly pymt would be $507.84 with first month paid and 38 months thereafter. Residual and money factor seem pretty competitive.
With a few extra miles left on my current lease my dilemma is trying to drive off those extra miles or eat a few lost dollars and believe them that the 11's that come out in the summer might be a few bucks more. Is there any truth to this or is my trusty salesman just putting the squeeze on me?
Any comments are helpful and thanks for reading.
03-22-2011, 04:28 PM
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Your deal is not good
509/mnth is too high. The G37 should be on the cheap right now, for $509 I would get a 335i and that includes free maintenance. They should be taking much more off the MSRP, probably 5k IMO and that should lower your payment into the low 400s.
Good luck and like someone here said find another dealer
Good luck and like someone here said find another dealer
03-22-2011, 05:48 PM
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Just wait, if you can. If they are more expensive, just get a Lexus, BMW, Merc or something. It's not like you don't have options, right?
If you really like the G, then I'd still say to wait. I doubt the prices will go up as demand for the G has never been that crazy anyway.
If you really like the G, then I'd still say to wait. I doubt the prices will go up as demand for the G has never been that crazy anyway.
03-22-2011, 06:07 PM
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NEVER, NEVER lease a car.
If you believe that you shouldn't buy a depreciating asset, then we all should rent our clothes, shoes, silverware, sheets, towels, television sets right?
The same people who praise leasing would probably chastise low-income people who patronize rent-to-own stores.
Renting a car long-term -- as in leasing -- is a bad financial move for 99.9 percent of the people who do it. The only exception may be if you can write the lease off on your taxes.
Yes, you can get into a lease for a monthly payment that may be less than the monthly loan payment for the same car. And yes, if you are going to trade in your car every three or four years, leasing may seem like a better deal.
But I challenge the financial common sense of trading a car in every three or four years. Leasing is basically renting a car you can't afford to buy. Doesn't that tell you something?
If it doesn't –- because you're stubborn -- it should tell you that you are living beyond your means.
Before you lease, may I suggest you read "The Millionaire Next Door" by Thomas J. Stanley and William D. Danko. Those researchers found that the average millionaire doesn't lease and keeps his vehicle until it's pushed off the road.
Here's what one millionaire said in the book: "Automobiles? I have always placed a premium on quality. But I never lease."
See, never lease.
The average millionaire is a millionaire because he knows a dumb deal when he sees it.
If you believe that you shouldn't buy a depreciating asset, then we all should rent our clothes, shoes, silverware, sheets, towels, television sets right?
The same people who praise leasing would probably chastise low-income people who patronize rent-to-own stores.
Renting a car long-term -- as in leasing -- is a bad financial move for 99.9 percent of the people who do it. The only exception may be if you can write the lease off on your taxes.
Yes, you can get into a lease for a monthly payment that may be less than the monthly loan payment for the same car. And yes, if you are going to trade in your car every three or four years, leasing may seem like a better deal.
But I challenge the financial common sense of trading a car in every three or four years. Leasing is basically renting a car you can't afford to buy. Doesn't that tell you something?
If it doesn't –- because you're stubborn -- it should tell you that you are living beyond your means.
Before you lease, may I suggest you read "The Millionaire Next Door" by Thomas J. Stanley and William D. Danko. Those researchers found that the average millionaire doesn't lease and keeps his vehicle until it's pushed off the road.
Here's what one millionaire said in the book: "Automobiles? I have always placed a premium on quality. But I never lease."
See, never lease.
The average millionaire is a millionaire because he knows a dumb deal when he sees it.
03-22-2011, 06:23 PM
#12
Leasing is only bad if you're stupid about it. The problem with leasing you you get people leasing cars way beyond their means.
What's the difference between buying a car and making $400 a month payments for 4 years and leasing a car and making $400 a month payments for 4 years if you can easly afford a $400 a month payment?
What's the difference between buying a car and making $400 a month payments for 4 years and leasing a car and making $400 a month payments for 4 years if you can easly afford a $400 a month payment?
03-22-2011, 07:30 PM
#14
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03-23-2011, 11:20 AM
#15
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NEVER, NEVER lease a car.
Renting a car long-term -- as in leasing -- is a bad financial move for 99.9 percent of the people who do it. The only exception may be if you can write the lease off on your taxes.
Yes, you can get into a lease for a monthly payment that may be less than the monthly loan payment for the same car. And yes, if you are going to trade in your car every three or four years, leasing may seem like a better deal.
But I challenge the financial common sense of trading a car in every three or four years. Leasing is basically renting a car you can't afford to buy. Doesn't that tell you something?
If it doesn't –- because you're stubborn -- it should tell you that you are living beyond your means.
Before you lease, may I suggest you read "The Millionaire Next Door" by Thomas J. Stanley and William D. Danko. Those researchers found that the average millionaire doesn't lease and keeps his vehicle until it's pushed off the road.
Here's what one millionaire said in the book: "Automobiles? I have always placed a premium on quality. But I never lease."
See, never lease.
The average millionaire is a millionaire because he knows a dumb deal when he sees it.
Renting a car long-term -- as in leasing -- is a bad financial move for 99.9 percent of the people who do it. The only exception may be if you can write the lease off on your taxes.
Yes, you can get into a lease for a monthly payment that may be less than the monthly loan payment for the same car. And yes, if you are going to trade in your car every three or four years, leasing may seem like a better deal.
But I challenge the financial common sense of trading a car in every three or four years. Leasing is basically renting a car you can't afford to buy. Doesn't that tell you something?
If it doesn't –- because you're stubborn -- it should tell you that you are living beyond your means.
Before you lease, may I suggest you read "The Millionaire Next Door" by Thomas J. Stanley and William D. Danko. Those researchers found that the average millionaire doesn't lease and keeps his vehicle until it's pushed off the road.
Here's what one millionaire said in the book: "Automobiles? I have always placed a premium on quality. But I never lease."
See, never lease.
The average millionaire is a millionaire because he knows a dumb deal when he sees it.
All new cars are subject to tremendous depreciation, whether you lease or own. Even if you plan on keeping your car for a long time a lease may still have a distinct advantage.....providing you know how to negotiate all of the elements in the lease (lease factor, capitalized cost, acquisition fee). I chose to lease my G because the lease offered to me was very favorable. In my case the additional cost of the lease was mostly the acquisition fee....which I view as insurance which allows me to get rid of my car in three years without additional cost (provided I abide by the lease terms). If gas goes to $6 per gallon and the car depreciates more than anticipated, I can dump it without cost. If my car is in a bad accident, but fixed properly, I don't risk additional loss of value at trade in. If I don't like or need the car, I can get rid of it without hassle. If I like the car, I can simply buy the car for the residual value.
There is also an opportunity cost when I use invested money to fund the purchase of a new car...this money is no longer available for investment purposes. The money factor on my lease is equal to 2.6% annually; the market returns on money invested approximates 15% during the last six months. That said, investment returns are not guaranteed.
One thing for sure however, new cars are expensive and leases are often bad deals for people who do not understand them. They are somewhat complicated and many people have been screwed by their auto leases.