Hey all! I am pretty sure that I have been ripped off with my G35, but I'm not quite sure and I'm wondering what others out there are paying. I got a 2003.5 G35s with Bose, Sunroof, and Trunkmat..this makes it $32,580. I payed $1300 at lease signing, yet it seems only $325 of that went to an actual "down-payment (adj. capitalized cost)". I (unfourtunately!) have a 60-month lease, which now I realize was a HUGE mistake. My monthly payments are $476.36...thats for $33,000 and 60-months (12,000 m per yr.). I really only wanted a 36-month lease but the dealer said it would be way over $500 per month. I got the car last July. PLEASE PLEASE ANYONE out there with a comperable G35 sedan, let me know about your monthly payments, etc. I talked to a salesman at the dealer and he said if I have some serious proof I will have a course of action. Help out a fellow G enthusiast!
Thank you to anyone who replies...any info will really help me.
--rsc

 

that sounds a little high to me.... but that my opinion.....
you got the car when they had trouble keeping up with the demand.... I dont know much about the sedans.... but alot of folks paid upto 3Ks over MSPR for the coupes....
so dont feel too bad...
T_bull

 

I'm not sure about the supply/demand thing when your first leased your car. The lease payments are based on predicted depreciation of the car at lease end. For a 60 month lease at the price your paying your basically buying the car? My lease is 39 months, I paid sales tax up front and nothing else. My car stickered (5AT sedan) at $35,400 and my payments are in the high 400's per month for 39 months. Most leases predict the car will have roughly 52% of it's original value at the 36month mark (this really implies too imports) . Not sure how your dealer worked out your lease payments, but I think that your really paying for the car's full value, even though at the end of the lease they'lll retain the car and sell it at it's 5 yr old value. Talk too your dealer and have them fully explain how they arrived at the figure your paying?

 

Hey, I got my G 2003.5, the best G sedan you can get.. Sports Package with the Nismo Body Kit, 17 Inch Sport rims and tires, Navigation, cold weather EVERYTHING for 427$ a month 26 months... Your dealer seems VERY HIGH I would check on that.. iLL

Wat'ssss Realllyyyy Goooodddd!!!!!

 

I thought these leases were "Infiniti" originated, why would there be so much difference?


Brilliant Silver/Graphite '04 Sedan/5AT

 

The MSRP on my 04 sedan was $34,175 I negotiated it down to $500 over invoice which was about $31,800 I pay $520 per month for 39 months at 15,000mi per year and I only paid my first payment at signing nothing else. I fell as though i could have done better but there was not another car like mine anywhere in atlanta. So I would have had to wait for another one since another dealer could not get the car away from the dealer so had to buy it from them. Hope that made sence.

So hope that helps you. Your payment sounds very high to considering it's a 60 month lease. Sound like the dealer did you in. I would fight it.... Good Luck!!

"Look at life through the windshield, not through the rear-view mirror."
2004 6MT Sedan
Brilliant Silver/Graphite
Premium/Aero/Splash Guards

 

my g35 sedan has premium package, winter package, and aero package and im paying $400 a month with nothing down
your dealer is ripping u off BIG time

 

wow i m financing and paying 563.00 a month.i got the sedan in june of 02. just when it came out

 

I'm not so sure you are being ripped off. Lease payment variables hugely vary based on the following:

1. Most importantly, what your credit score is. The higher your score, the lower the interest rate (money factor on a lease). Credit scores (also known as FICO scores) vary from 400 for horrible credit on the low end to about 800 on the high end. Generally you have to have a FICO score of at least 620 to 650 to be eligible for any lease. For the best terms, the score needs to be over 700 and, in some cases, 750. When you see ads by dealers saying "min. 720 Fair, Isaac..." this is what they are referring to.

2. The purchase price of the new vehicle (referred to as the Gross Capitalized Cost in your lease paperwork). Generally, for G35s, that will range from invoice to about MSRP or a little more.

3. The term of your lease. The longer the term, the lower the lease payments but the interest rate/money factor often goes up (more risk for the lender for longer-term loans and leases).

4. The residual amount. Because most leasing companies took a bath financially in the late 90s due to the excessively high residual amounts, you now generally pay higher payments on a lease because of these new lower residuals than in the past.

5. The amount you put down and/or equity in your vehicle trade, if any. In the alternative, any negative equity (deficiency) will be added to your gross capitalized cost to create the "adjusted capitalized cost."

6. The annual mileage allowed in your lease. Standard is 12,000 miles per year. If you drive a lot, as I do, this should be at least 15,000 per year. The come on deals you see advertised in the paper are usually only 10,000 miles per year, which is a joke, especially in big cities.

In my case, last Friday, I just bought a G35 sedan with Aero, Premium and Sports Packages. MSRP on the vehicle with automate and other BS came to around $36,500. After haggling with them, the purchase price of the vehicle came down to about $32,500.

My problem is I had a high-mileage Q45 and still owed a lot of money on it. My deficiency was nearly $8,000. That was piled into the lease, so that the gross capitalized cost was nearly $41,000. I put $5,000 down, so that reduced the amount financed to about $38,000. At 15,000 miles per year times 60 months, that came out to $575 per month. At least $100 of this payment (if not more) is due to my deficiency in the Q45 I traded. That's life in the big city when you buy a depreciating asset and throw lots of miles on them, as I do for work. Because I have a large mortgage payment and one parking ticket I had refused to pay in the past that went to collections, my FICO score was only about 630-670, meaning I barely qualified for the lease. I think my money factor/interest rate was around 6%.

Remember, on a lease, you pay the first month's payment, doc fees and other BS charges up front. That's what ate away at your down payment. For me, nearly $2k of my down went to these asinine fees.

Bottom line is, I don't think you did poorly at all.

--don




Full speed ahead, Mr. Sulu!

 

He got ripped. I paid 30500. Lease factor rate of 4, fico of 800+. I put down $2500 (got 440 back from DMV) & my payments are $355 for a 5 year lease. Maybe it's because of my good credit.

 

Bingo! My point exactly. With a mega-high score like 800+, of COURSE you got a smoking lease rate on your vehicle, whereas I almost needed a co-signer to pay cash.

--don

Full speed ahead, Mr. Sulu!

 

don85259 - so don your paying a lease on 2 vehicles....but you only get one....that doesnt make alot of sence... leasing a car is not a good idea from what i hear....

2003 Black , sunroof, leather,
splashguards, 8 wire Hypergrounding kit, 350Z intake duct, K&N filter.

 

Leasing is generally worse financially then purchasing, but it certainly has its place.

For instance, some people don't ever want to deal with the hassel of selling a car or owning a car outside of a warranty period. Leases work great for these people, especially if they like to always change cars. Leases also allow someone to get into a nicer car for less of a payment. From what I've read on this thread, lease payments are about $150-$200 less then conventional financing. Now after the lease is over the leaser owns nothing, where as the financer owns their entire car minus 1-2 years of payments. If you break down a lease you'll see that at the end you've paid a lot of money and have nothing, where as at the end of a finance you've paid A LOT more and have an older car that will probably be sold soon. Most of the time people trade-in and put that credit towards their next car, which leaves them with a payment similar to leasing anyways. Let's face it, cars rarely if ever have positive equity so driving a newer car no matter what is a money making mistake.

Leasing is a straight forward committment for me. I'm willing to pay $500 / month to always be driving a newish luxury car. I could say I'll pay $650 for 5 years and then own the car, but I know I'd sell it afterwards and put myself back into another 500-650 finance.

Also, right now Infiniti has a promotion on G35 sedan leases, no tax on leases (~$2750 savings). That on top of the lower money factor (usually) makes leasing not that bad in certain situations.

When I look to buy new cars I compare leasing vs financing and usually go with financing, however the G35 I'm purchasing today I'm going to lease (first lease). I never keep cars more then 3 years so financing vs leasing comes out to be almost the same minus the hassle of selling and/or owning an older vehicle.

 

Thanks for all the comments guys. I'm going to be starting negotiations with my dealer soon so the more posts giving me examples, the better! Thanks to all who have already posted! Hopefully something can be done, because if I am not satisfied with their explanation, or if it doesn't make sense, I may just be exposing a corrupt Infiniti dealer!! Many huge chains of dealers ( my dealer is in a large chain) in Florida have recently been exposed for bogus deals. So anyone else who wants to comment on their payment that would be greatly appreciated!
--rsc
--oh and in addition, my credit score was pretty damn high at the time I got my G, and the G I got had been sitting on the lot for 2 months. I dunno!!
<P ID="edit"><FONT class="small"><EM>Edited by rsc6789 on 01/23/04 10:08 AM.</EM></FONT></P>

 

Check out http://www.leaseguide.com/calc.htm to see if your deal is ok. I used this when shopping for my car and came pretty close to my actual payments. You need to know the money factor and the residual value, both of which you should have known before you signed anything.

2003.5 Garnet Fire 5AT
Wishlist: Nismo CAI, Borla Exhaust