So, I've been in the market for a 08 G35 for the last few months and have been following the prices closely on this board. I've managed to negotiate a purchase price of $200 below invoice, plus California TTL and another $60 in dealer fees. I think this is a very good deal.

Here's my dilemma: I'm really interested in securing the 3.9% APR over 60 months, which, per Infiniti, expires this month. But, I still have one more $500 lease payment to make on my 05 G35 (due Dec. 15, least terminates Jan. 15). Would you hold out for another month and buy the car sometime at the end of December (maybe at a better, but not that much better, price), and thereby limit the time where you're carrying two cars and extra insurance to a couple of weeks, but also risk losing the promotional APR? Or would you go ahead and buy the car now to secure a very good price and great APR, and just make both car payments and pay double insurance for a month and a half? Under option two, I would probably end up driving my 05 to work during the week until the lease terminates and keep the 08 for the weekends (hard as that will be!). I figure I may as well get my money's worth out of the lease.

Any other options I'm missing? As an fyi, I've already called IFS and they've told me that turning my lease early is not really an option (no current pull-back programs and, in Cali, early termination payoff amount would be based on sale price of car at auction after I turn it in, thus, could be zero or could be the full remaining payment). Also, even though I'm currently 10K under miles for the lease, every dealer I've spoken to has expressed zero interest in paying off the 05 (seems like I'm upside down when I check KBB). I could try selling privately, but too much headache for me. Also, not really interested in rolling the lease payment into the loan (would be a waste IMO).

Sorry for the essay and for not posting in the "Buying and Leasing" forum, but I need to make a decision quick (clearly by the end of the week) and it doesn't seem too many people post in or follow that forum. Thanks in advance, and let me know if you want me to provide more info (I'm sure you don't!)

 

Well, the last week in December is generally a very slow week for car dealers, so they may be willing to give good deals then, too. But, as the saying goes, a bird in the hand is better than 2 in the bush...

 

I'm confused; why can't you turn your lease in early? I leased an '06 FX35 and I just turned it in with (5) payments remaining. Is your lease through IFS? As long as you're in good standing, they will take your lease early (no penatly) and waive up to $500 of excess wear. They start sending this info 6-months prior to lease ending.

One other thing to note. I was looking to purchase in October, however the interest rates were 6.9% - I waited until November and got 3.9%. This 3% drop equates to roughly $50 a month. Over a 60 month loan that is $3000! In my opinion you should lock in the rate. Either way you're saving $2,500 - $3,000. Seems like it is worth it to me.

 

I did check with IFS and they said that turning your leased car in early is a periodic program that they offer to their customers (it's called the pull-ahead program, I think). However, they don't make the program available on all cars, and currently no such program for G sedans. Lease-end materials I received in the mail also do not mention any program. Only option IFS can provide is to turn the car in, have IFS sell it at auction, and if the sale price is close to or exceeds some threshhold (presumably, the residual plus any remaining payments), then IFS "could" waive the remaining payment. This option, unique to Cali, is not really worth it to me, because I've seen the KBB values and I doubt the car will sell at auction above the residual. So there's a pretty good chance I'd have to make the last payment anyway. Might as well keep the car if that's the case.

Looks like you lucked out with the pull-ahead program on your FX.

 

That's a good deal on the 08 G. If you really think about it, if you're stuck w/ the lease, it doesn't make too much difference whether you buy the 08 now or at the end of the year. You would be paying the exact same amt - principal + interest for the 08 G.

The only difference is, if you buy the 08 now, you would start making payments on your new car 1 month earlier. Waiting until Jan 08 will not really save you a payment because, whether you buy the 08 G35 in Dec 07 or Jan 08, you would still need to make 60 montly payments to pay it off.

Additionally, you are still stuck w/ making that 1 last payment on your lease for your old G35 regardless of whether you bought the 08 G35 in Dec 07 or Jan 08.

With respect to the double insurance thing, check your policy. Most policies provide coverage on a newly purchased vehicle as long as you report it to the insurance company within 2 weeks to 1 month depending on the policy language. If your insurance policy provides this benefit, maybe you can wait 2 weeks before reporting the newly purchased vehicle?

 

i bought my car a week before the promotional rates were announced. best i could do was 6.9%. i'm kind of pissed off about it but at the same time i doubt i would qualify for tier1 because this is the first car i own with solely just my name.

+1 with everyone else, in the long run you do save money if you pulled the trigger. the car is awesome and im sure you wont regret either.

 

Its only one month of extra payment, so I guess it depends on what your finances are. But I'm guessing if you are going from one G to the next you can swing an extra payment. I would do it. You'll have to make sure and do a photoshoot titled "Out with the old and in with the new" though for sure.

 

It's not an extra month of payment. Regardless of whether he buys now or in January, he still needs to make 60 equal monthly payments. It's just that if he buys in December, his car payments will start 1 month sooner.

So, in the end, there's hardly any benefit to waiting and he will definitely lose the 3.9% financing if he waits until Jan 08.

 

I'm on the verge of buying my G. I'm just waiting for final payment on the car I'm selling before try to negotiate the best deal I can in SoCal. Unfortunately for me I will just miss the November cut off date. Even though the financing deal runs out in November, I would think there will be some kind of incentive offered in December or at least in late December. I think late December is a historically slow time for dealers and thus there should be some incentive available then whether it is financing or cash. Anyone remember the last couple of years what was offered in December to get buyers into the showroom?

The funny thing is, I'm already dreading the 1200 mile break-in period and I don't even own the car yet! that's going to be a long six weeks or so.

 

Many thanks to all of you that responded (especially those who encouraged me to pull the trigger!). I ended up purchasing the car last night. Check out the 2008 negotiated deal thread for the specs/pricing.

P.S. Ivory G, I promise to get those side-by-side shots of my G's up soon!

 

I'm surprised you couldn't turn a leased car in early. I always "hear" about people trading in their leases early (1-3 months before the actual due date), this is assuming the value/residual is within reason, which it should be.

 

I was surprised as well, especially with only a month and a half left. But IFS was not willing to terminate early unless they went through the whole auction process identified above. Maybe I could have pushed them more?

Anyway, I'm happy that I went ahead with the purchase.

 

Congrats! Welcome to the club!