Sorry to be asking for help here,
but I need some advice and I would really appreciate any help I can get.

I've decided on getting a G35x with ZERO options.
I want to secure the lowest monthly payment with $0 down.

I bought my last 2 cars at invoice and through purchase deals with $0 down.
I got 0% interest from GMAC on one and went through my credit union for 5.5% APR on the other.
I have strong credit scores.

I know NOTHING about leases.
But, I know I have no problem having a G35x as a daily driver for the next 6+ years and I want to have the lowest monthly payment possible with $0 down.


I really appreciate any help you all can provide.
Thank you.

 

6+ years?

I think you should buy, not lease.

 

It's not magic... it's all based on the variables. Let's say you luck out and get a base car for $32k, over 5 years with $0 down at 5.5%, that's $611 a month.

But that's absolute best case scenario... a $32k car won't cost you $32k... you have taxes and fees and finance charges that are rolled into the loan, so that drives the price up. And nobody finances 0% over the life of the loan or they wouldn't make any money... GMAC probably does 0% over 12 months or something.

Google up payment calculators and plug in your numbers and that will tell the tale. Bottom line is the more you borrow, the higher the payments. You can compensate with money down or less car, but the interest rate is generally fixed based on your credit and income.

 

Lowest payment possible if you dont care about interest would be a home equity line

 

and there's more savings on home equity (tax deductible) to boot,

but all of it (low loan rates) obviously depends on your credit score...

 

Just for reference, I put $0 down(1st payment and license fees only = $777 total) and I got my 07 G35x for $535 a month for 36 month lease with 15k miles a year. The only option was a $1000 sunroof. Sticker price was $35,800.

 

FWIW: I put $1350.00 down on a 36 month lease for '07 G35X in July and my payment is just $379.00/month here in Colorado. The G35X is a base model with sunroof, mudguards and trunk net. (I then added my own Gentex mirror w/homelink and put in a Garmin Nuvi with bluetooth, traffic updates etc for a total out of pocket cost of $670.00)

Also, as others mentioned you will need taxes on any deal you negotiate.

I'm pretty sure I got a SMOKIN' deal though!

If anyone is interested I can hook you up as a referral
pm me

 

For comparison:

G35x with premium + navi + tech - 24 months, 15K miles/yr, no down payment, $550 bank fee, 1st month payment down - 595/month

 

Thanks for all the posts!

I have never leased before,
so It really helps hearing from people that have already made deals and getting the details of their payments.

I am torn between wanting the lowest monthly payment (leasing?) and wanting to buy. (higher monthly payment?)

Is the best way to do that is to lease for 36 months and then buy the car out in the end?

What's the best way to get a purchase deal with $0 down and still the lowest payments?
Just find the lowest rate?
Or is it more than that?

I say this because I know that there really isn't another car that's coming in the foreseeable future that will compete for the G35x as a daily driver in the Northeast U.S. (AWD) for the money.


Lease people:
Can you please post how many miles you are allowed with your deal?
Thanks.

 

Whether or lease or buy depends entirely on your situation... and car payments should only be one of the reasons to consider when you're looking into making that decision.

When you buy, you pay for the entire cost of the vehicle. Doesn't matter how many miles you put on it, if you wanna cut the roof off or paint it green. It's your car, and that's all there is to that. Even if you don't put any money down, you pay the sales tax (or usually roll it into the loan), pay whatever interest rate the financing company says and call it a day. When you're done, you're done. You can sell it, trade it, keep it, whatever.

When you lease though, you don't really pay for the car, you pay to use the car. In most cases you only pay sales tax on your monthly payments and you pay a finance rate. You might have to pay a security deposit, etc. At the end of the lease, you either return the vehicle or purchase it for the depreciated resale value.

So with that said... you should only be looking at leasing if you don't really have plans to keep the car past 2-3 years. It's very rare that you will want to buy the car at the end of the lease for its depreciated value. In 3 years chances are if you're given the choice you will want to trade it in and get a new car. If that's your thing, and you're comfortable with having a fixed mileage allowance -- and you take care of the car -- then leasing is for you.

If you don't mind the higher monthly payments, or you just like the idea of being able to do whatever you want with the car during or after you finish paying for it, then buying is the better option.

 

Nissan current lowest rate is 6.15% thats based on a fico score above 720
They have others which will get own to 5.99%
These rates are also dependant on you putting 30%+ either down payment or trade in. The less you put down the higher the rate. sorry but thats how it works.
If you have a home and get an equity line and put own the 30% from that you will get the better rate but. then you have 2 payments not so good.
but the equity is tax deductable

nissan finance has 60 66 and 72 month terms available.


EG i got 35.5k for my deal i trade in a car and got 11.5k for it my payments are 480 for 66 months at 5.99%

 

Yeah but you get an equity line of credit to fix your bathroom or your kitchen and bring up the value of your house -- an investment. It's crazy to take a lien out to put money down on a car, which depreciates as soon as you drive off the lot.

 

actually in the current housing market the values are dropping as well...
but thats beside the point.......
the big benfit is that it is tax deductable in effect you will be getting 25% plus of your payments back. just pay it off in the same time you would a
car payment. and if your doing your taxes where you get a refund
dump the refund back into the equity acount and drop the payment

Jeremy S