Leasing 2012 over 2013... AMAZING!!! - Infiniti and Kia

[Cellice]

Okay, so without knowing the monthly or the interest rate it’s hard to determine how well you did. The rates Infiniti offered back in February was a lot higher than the rates they have available now. The base rate in February was .00066 Base Rate compared to this month’s .00011.  The 2012s started hitting the showroom floors in July 2011 so that is likely what helped you get a decent discount. However, it likely is what increased your residual.

If the MSPRP was $ 37,735 and the residual is $22,024.6. That means the residual was 58%. The residual on 2012 models were 61%.

I don’t see any extreme fees hidden in your lease. If your payment is around $320 you did well on the car you purchased. $2900 is a lot down on a lease. It is not an excellent lease but you were not taken advantage off.

July/August is normally the best month to lease luxury cars. The good news is you leased in February for 39 months so you will be coming of lease during the July/August period.

If you lease this month on the 18month lease your payment would have likely been $100 less a month.

[Creditaddict]

---

@Cellice wrote:

Okay, so without knowing the monthly or the interest rate it’s hard to determine how well you did. The rates Infiniti offered back in February was a lot higher than the rates they have available now. The base rate in February was .00066 Base Rate compared to this month’s .00011.  The 2012s started hitting the showroom floors in July 2011 so that is likely what helped you get a decent discount. However, it likely is what increased your residual.

If the MSPRP was $ 37,735 and the residual is $22,024.6. That means the residual was 58%. The residual on 2012 models were 61%.

I don’t see any extreme fees hidden in your lease. If your payment is around $320 you did well on the car you purchased. $2900 is a lot down on a lease. It is not an excellent lease but you were not taken advantage off.

July/August is normally the best month to lease luxury cars. The good news is you leased in February for 39 months so you will be coming of lease during the July/August period.

If you lease this month on the 18month lease your payment would have likely been $100 less a month.

---

OOPS, I forget things so fast if it's not attached to me or something! LOL

Payment is about $350 then Tax = $380/Month

The "Special" on 2012 G37 Journey were around $269-$399 with $4k down I want to say, maybe $3k?

So to then get the whole Tech stuff and the wheels was what $3-$4k worth of ad ons... So based on what we had been offered we ended up picking up all the packages and dropped a grand off down payment so that's why I was thinking great deal.

But yes I have seen some pretty good looking leases lately but depending who the lease is, you add a couple small things and all of a sudden you are not even in ballpark of the lease advertised.... Hopefully your thinking of $100 LESS is based on the Base Journey like I see when I look up our dealerhsip here!

Thanks for working that out, something I should probably learn... This lease for him was the first lease I have been any part of since leasing my Jetta back in 2000 and lets not even talk about that one!! LOL  I should have gotten the Jetta I bought plus a Beetle thrown in for free with the lease I took from them!

But was still kind of exciting getting approved on my own for $25k at 19!

[Cellice]

We all make mistakes that hopefully we learn from. The good thing is you are obviously on this website to learn about making financially solid decision for the future.

The $100 less was for a 2012 G37x Sedan w/ Premium, Auto, Nav, Sport Package, Mats and Illuminated Sills. The $100 less is based on the offer I received this month while shopping for a car. I opted for the more expensive lease of a Cadillac CTS Coupe (It was still a great deal). The main reason for the difference is the length of the lease, better interest rates now (by a lot) and higher residual rates. Your 2900 also takes off A LOT a month for a 18 month lease. You are essentially paying for 1/3 of the lease at the start. This is why downpayments on leases are bad.

Oh a lesson for leases. Those lease specials dont mean anything. If you take that deal exactly you are getting a bad deal. The only thing good with them is they usually have a good rate with them and good residuals. However, you can almost always get a better price on a car.

DO NOT ever negotiate a car based on monthly payments. When I started my car search this month I was okay paying $500 a month for a luxury car. However, I ended up $300 w/ no money down. Those dealerships could have EASILY given me $500 a month if I told them that was what I was willing to pay.

[Creditaddict]

---

@Cellice wrote:

We all make mistakes that hopefully we learn from. The good thing is you are obviously on this website to learn about making financially solid decision for the future.

The $100 less was for a 2012 G37x Sedan w/ Premium, Auto, Nav, Sport Package, Mats and Illuminated Sills. The $100 less is based on the offer I received this month while shopping for a car. I opted for the more expensive lease of a Cadillac CTS Coupe (It was still a great deal). The main reason for the difference is the length of the lease, better interest rates now (by a lot) and higher residual rates. Your 2900 also takes off A LOT a month for a 18 month lease. You are essentially paying for 1/3 of the lease at the start. This is why downpayments on leases are bad.

Oh a lesson for leases. Those lease specials dont mean anything. If you take that deal exactly you are getting a bad deal. The only thing good with them is they usually have a good rate with them and good residuals. However, you can almost always get a better price on a car.

DO NOT ever negotiate a car based on monthly payments. When I started my car search this month I was okay paying $500 a month for a luxury car. However, I ended up $300 w/ no money down. Those dealerships could have EASILY given me $500 a month if I told them that was what I was willing to pay.

---

This is the best point and is also the easiest one to get dragged away from if you let it... Sales Associates seem to only know how to do that and some just get dumber by trying to bring it back to that (i.e. my parents (Purchase) not lease of their Kia SUV... (The larger one, forget name) anyway...

She kept saying what are you comfortable with paying... and I  said it does not matter, get us the price of the car, the interest rate, term, and trade in. I will tell you what the payment will be!  She is like "well it's not going to help if the payment ends up to high for you.  I was like the payment is going to be what it is going to be based on the numbers, so we are buying this car so we can afford the payments... we just need total for car and we can get this done!  Lets just say she was not my friend many times during this stupid 2 day prcoess!

Lease, I have way less knowledge, I have been buying all my cars since 2000.

[drkaje]

@ Cellice,

Should you ever give money down on a lease?

I'm not a car person, at all. I'm not buying so resale value doesn't matter. Options don't matter, because it's just a ride to work. All that matters is gas mileage and miles/year. I'd even lease a pre-leased if the price was right, LOL!

[Cellice]

---

@drkaje wrote:

@ Cellice,

Should you ever give money down on a lease?

I'm not a car person, at all. I'm not buying so resale value doesn't matter. Options don't matter, because it's just a ride to work. All that matters is gas mileage and miles/year. I'd even lease a pre-leased if the price was right, LOL!

---

You can do a downpayent if you want to lower the payment. The only reason it is not encouraged is because its a large amount of money and you really dont have much to show for it at the end of the lease.

Resale value does not matter to you but it is very important for determining your monthly payment on a lease. A lease payment is calculated based on the estimated depreciation for the length of the lease. For example. If you buy the car for 20K and the estimate after 24 months the car will be worth 50% you'll have to pay the 10K over 24 months. Therefore, 10K/24 = $416 a month.

If you want to take over a pre-leased car check out: http://swapalease.com/

Right now if you want a low cost lease for a great car. Look at the Infiniti G37x Sedan. One with only premium package will likely cost you $300 a/month with no downpayment easily.

[drkaje]

@ Cellice,

An Infiniti seems like a lot of car to be parked 10 hrs/day, LOL!

In a few weeks I'll look at a Civic.

[Cellice]

Oh, it is but its one of the best deals available. You will be paying only slightly less (maybe 30-50) a month for the Civic. I'm a car fanatic so I like nice cars hah

[drkaje]

I've never even heard of that car before opening this thread and wouldn't recognize one, LOL!

Nice cars are nice but they're more or less a functional thing for me. The only vehicle I've really enjoyed driving (as an adult) was a Jeep. Gas is way too crazy for such an indulgence, especially considering I'll be commuting 100+ miles/day. In a few years, I'll spoil myself with one.

---

@Cellice wrote:

Oh, it is but its one of the best deals available. You will be paying only slightly less (maybe 30-50) a month for the Civic. I'm a car fanatic so I like nice cars hah

---

[Creditaddict]

---

@drkaje wrote:

I've never even heard of that car before opening this thread and wouldn't recognize one, LOL!

Nice cars are nice but they're more or less a functional thing for me. The only vehicle I've really enjoyed driving (as an adult) was a Jeep. Gas is way too crazy for such an indulgence, especially considering I'll be commuting 100+ miles/day. In a few years, I'll spoil myself with one.

---

@Cellice wrote:

Oh, it is but its one of the best deals available. You will be paying only slightly less (maybe 30-50) a month for the Civic. I'm a car fanatic so I like nice cars hah

---

---

100 Miles a day!!!? 

You need to get yourself a Prius!!

That would be to far for the Volt, Leaf and such so not sure in  end it would end up better then Prius.