This is my first post here, this is my first new car deal of any kind, this will be my first Infiniti and this will be my very first lease. Because I have no trade I thought the process would be fair, honest and easy to understand and follow,,,,,,,,,,,,,,,,,,,yeah right!!!

Now that I am 50, my three kids all grown and employed, my wife and I decided its time for a new car. I have never owned a new car, it is only recently that I started to truly enjoy cars and driving.

We live in Northern New England so the number of Infiniti Dealerships is very limited. Also, as ridiculous as it sounds for a 50 year old; I have no clue what is considered a good lease deal, what is a fair residual and what MF is, means, and what is a fair MF?

After sitting with a salesman for two hours being spinned, manipulated, and double talked, the pressure really got applied by the sales manager trying to close the deal. He promised this deal was "great" for both of us and this what he offered:

2008 G35X with Premium, peformance wheel and tire, and Nav packages. MSRP is 41,360. They offered a 39 month lease with 15K mileage with just the first payment of $522 . They dropped the price from 41K to 37K for the lease, claiming this was the "best they could possibly do". He also stated that I could go to 18K mileage each year for an additional $25 a month

This deal sounds crummy to me but I don't know how/why. I really need you guys help and explain to me why this deal smells? And the most important is for someone to give me an idea what a good deal would be for this car, especially in light of the pressure they are placing on us to do this deal before the end of the Month?

Sorry this post is so long but I really want this car and I am a Newbie virgin when it comes to new car leasing. purchased or owned a new car and would hate to get boned on my very first lease!!! Thanks, I do appreciate all your help

 

Below is how the lease should breakdown.

2008 g35x with:

• Navigation
• Premium Package
• Performance wheel and tire
• Splash Guards
• Cargo net
• Ill. Kick Plates
• Wood Trim
  

MSRP: 41,410
INVOICE: 37,768
REBATES: 1,000 Lease sell down cash
TRUE INVOICE: 36,768

Base MF: .00069
Residual: 50%
Term: 39 months
Mileage: 15,000/year

(Cap Cost – Residual Value) / Term = Depreciation
(Cap Cost + Residual Value) X Base Rate = Interest
Depreciation + Interest = Base Monthly Payment

CAP COST = Vehicle Purchase Price (amount financed)
RESIDUAL VALUE = MSRP (window sticker) X Residual %
TERM = Length of Lease in Months (3 years = 36 months)
BASE RATE = Dealer’s Buy Rate (dealer can mark this up for profit)

Your car has the MSRP of 41,360 so maybe it has ill. kick plate/spoiler/wood. I didn't know the exact combination.

This formula lacks registration fee, bank fee, doc. fee, and taxes.

Your selling price of 37,000 is approx 200 above invoice if that truly is what they are using.

With the MSRP of 41,360 and selling price of 37,000, I am getting a base payment of $458.26. This does not include taxes+fees.

Hopefully this can help you out.

 

Thanks Beyd!!! Thats the answer I was looking for. I just got off the phone with the dealer and your figures were off by $31 a month but that's because I got 18K miles a year.
Final lease payment using your your MF factor (which was far better than mine) and the Residual of 50% (48% with 18K) came to $489.11. I said "absolutely not until they round it off to $489" because it felt to be a dinkweed to a car salesman desperate to make a sale for a change instead of them always making me feel like I got boned in the end!!! They said OK and I then made them add their Simonize paint protection as we both knew it was probably worth $20.

I sign the contract on Thursday and join the ranks of an Infiniti owner (Yeah, Leasee)

Thanks again for your help, saved me some money

 

pretty good deal.. congrats and welcome to the club

 

Cool, welcome. Where did you end up getting your car from? Kelly in Danvers or Infiniti Nashua.