**** seriously guys, who ****ing cares if he's 18.

jesus christ so many of you bitch about 18 year olds shouldn't be having this car and thier parents paying for it etc etc.
**** who cares who are you to be saying what people should and shouldnt have.

okay rant over.

 

The simple answer for negotiating leases is to negotiate the price of the car and the interest rate, NOT the monthly payment. Once the price of the car is fixed, and the cost of money is fixed, you can vary the monthly payment versus down payment yourself.

I walked in to my negotiations with my laptop and detailed spreadsheets, and actually caught the dealer trying to manipulate the numbers on multiple occasions, and they finally broke down and gave me what I wanted. There are SO many places that they can hide costs. They can raise your monthly payment by just a few dollars and put effectively hundreds of dollars in profit in their pocket up front.

 

Subscribing

 

Well, from first post you can see some of the numbers and base on that here are what are couple of different number I come up with and see if are any of them close to what he actually got...

1. 40,200 -- residual of 57%, M/F 0.025(6%) actually cash down 1200
2. 39,100 -- same as above but with 0.003(7.2%)
base on MSRP of 37300

the payment he or anyone in his shoes should be looking at is...
467 -- with no money down but fees only(1.5k~ish) 500 above invoice, 8.25% sales tax, M/F of 0.002(4.8%).

No matter how one crunch the numbers, the bottom line is, he got taken, Yes I can agree with some of you that it isnt dealership's fault at least not entirely but how could a dealership sell an G35 2~3K above MSRP to an young kid and his Grandmom? no conscious and compassion what so ever, I mean if I did that? I dont think I can sleep at night.

 

Sure it can be done, its quite easy as matter of fact. first find out how much you owe or the leasing price you got (38~39k)and then find someone who is willing to loan that amount which is about 2~3k more than the car's worth plus sales tax to you and whola, now you "BUY" it....Its just an guess but you would be looking at around 820/mos for next 60 mos...One question, is your name on the contract agreement?

 

That's true, you can do at least some rough calculations based on his numbers. I take my original comments back on him possibly not getting screwed, I missed the fact that it was a 42 month lease.

Assuming car of:
6MT with Premium Package ONLY (no other options, plus destination):
MSRP = $37150
Invoice = $34053

Assuming lease fees of:
Bank fee = $595
Document fee = $45
Registration fee = $300

Assuming lease details of:
Residual = 57% (42 month lease)
Sales tax = 8.25%

You say that the dealer openly offered you the car at $36892. This is just ~$250 under MSRP (~$2800 over invoice). Assuming the dealer did in fact sell you the car for this amount, then the only place they can hide the extra profit is in the interest rate (money factor) for the lease. For $3000 out-the-door (includes first months payment), to generate a monthly payment of $619 you would need a money factor of about 0.004 = 9.6%.

Simply put, you could have gotten the car for under MSPR, and they just have you on a higher interest rate to hide the extra cost. For example, in December the best money factor you could get in california was 0.00215 = 5.16%. If you had gotten this rate instead, to generate a monthly payment of $619 you would have paid $7000 over invoice, or $3875 over MSRP!

But chances are they just slapped you with an interest rate in the 9-10% range (outrageous) and gave you the car for what they said.

For comparison, my friend just leased an '06 G35 for 36 months, $1500 down (to cover fees and first payment only), EVERY option minus splash guards and side moldings (MSRP of $40680), just $1000 over invoice ($2500 below MSRP), 0.00215 money factor, and pays about $580 per month.

 

+1 you got raped big time wow!

 

Putting that much money on the line in the long run, you DON'T rush things. Just because you didn't want to drive your mom's car. At 18 you are driving the G35 well sounds like a lot of complaining to be done.

 

Actully its much worse, csu he leased it for 42 mos not 36!

 

Yes sorry to say you did get raped .Never go to the dealer in a hurry.I pay 620 on my car but it is not a lease .Your payment should have been cheaper than mine.Good luck.

 

Oops! I have edited my post with the correct numbers. Holy crap. He got majorly ripped off at almost $7000 over invoice assuming the current lowest money factors! They probably gave him the car for the cost they negotiated and screwed him with about a 10% interest rate. He could have gotten a car with EVERY option on it for that price and still paid just above MSRP.

I'd go back to the dealer and make a major case that you are going to post all the details of your experience in a write-up on the internet and warn thousands of potential customers to stay away from their dealership.

 

Do you guys think I can swith from a lease to buy instead??

 

Here's The Info:
Down Payment-3000
42 Months
Capitalized Cost Reduction-1865.37
Gross Capitalized Cost 36890.00
Monthly Payment-619.99
Residual Value-20401.20
Adjusted Capitalized Cost-36569.63
Miles Per Year-15000
Lojack-995.00

Do You Think If I Call And Ask To Purchase Instead They Will Cut Me Some Slack??

 

You should be asking the dealer instead of spending days here wasting what may be precious time to turn around your mistake. The only ones that may be able to rectify or even help your situation is them so you should be contacting them asap and find out your options. Lesson learned don't rush into big purchases such as a car.

 

go buy a large 10 gallon tub of vaseline to ease the pain for the upcoming 42 months!!