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Discussion Starter · #1 ·
Hello Guys!

I been reading up alot lately, and I have to say that this site is the best of many other sites I looked at. Very up to date PLUS friendly responses!

Well, I am hoping to lease a FX35 myself. I just graduated and I want to fullfil my dream :lol:

Anyways, I am interested in a '05 FX35 AWD, with tech for sure. Not sure about the touring or the sport. Maybe you could help me decide on these?

Also, this is going to be my first lease. But, after quite a bit of reading, I think I am up for it.

The very first offer I got is (for sport+tech+tour+etc..) $665 for 36 months, w/ minimal down, w/ 15k. He said, that's .00195 mf and .59 residual.

So, I need your help in negotiating that down to reasonable #s. In particular, I hope someone here could help me with the money factor/residual #s. Also, is this a good time to buy, or should I hold off for a little? I am in DC area, btw.

Thanks in advance guys!
 

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Just a quick note - the touring package is pretty much a "mandatory" option. The only way you can NOT get touring is to get a white FX with the willow cloth interior. And if you want the tech package, that requires the touring package, too.

Matthew
 

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Discussion Starter · #3 ·
BigMatt said:
Just a quick note - the touring package is pretty much a "mandatory" option. The only way you can NOT get touring is to get a white FX with the willow cloth interior. And if you want the tech package, that requires the touring package, too.

Matthew
Gotcha!

How about the sport? Are the 20's really worth it?

I was thinking, getting a FX35 w/ sport+tour+tech is not so smart, as one could just jump to a FX45 at the price point.
 

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Good thinking! If you get AWD/SPORT, you'd be Smart to add 6K more and do a 45. :eek: Very Smart!
 

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Discussion Starter · #5 ·
PINITI-FX said:
Good thinking! If you get AWD/SPORT, you'd be Smart to add 6K more and do a 45. :eek: Very Smart!
Ok Ok! Not so smart :roll: You are right, to get to a comparable FX45, you would need 6k on top of the Base.

Anyone willing to help out with the #s? I don't quite know how and where to find the lease #s.

Thanks
 

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You don't need to focus on your payment so much (of course a good payment is the end game but don't need to jump there right away).

Work on the individual factors that make up the lease. Concentrate on cap cost (which is the selling price of the vehicle). You can use autosite.com to get invoice for the car you are looking at. Start with this number NOT MSRP. Most dealers will go right to invoice + $500. There is still room to work here. 59% residual is pretty good. Residual will usually be in the 55-60 range with average probably being 58. The money factor is where they can play with things a bit. I like to refer to the money factor as "the cost of money". To get you true interest rate, multiply your money factor by 2400. So, .00195 money factor is a 4.68%. I think he can do better there.

You can then use http://www.leaseguide.com/calc.htm to plug in your numbers and get an estimate of the lease payment. Infiniti Financial obviously has there own formula but you should be within $5-$8 dollar of there price. FINALLY, when you get good numbers for the factors above, ask them to shave some $$ off the payment. Let them achieve this anyway they want to.

Since your residual, and money factor are decent, you will get your biggest benefit by negotiating the cost of the car. I assume by "no money down" you meant "no cap cost reduction". There will still be some lease inception fees including bank fee, tire tax, motor vehicle, first months payment, etc. This will still be as much as $1600 in some cases. You can have them add it to the lease but you are increasing your payment at that point which is the opposite of what we are trying to accomplish. My final word of advice is make sure it is a payment you are comfortable with. Better to throw in $1000 for a cap cost reduction then be stuck with a lease payment you can't handle.

By the way, invoice on your car is $41128. Another option would be to do what I did. Get a new 2004 for several thousand less. The price I started with was $2000 below invoice (which is probably about $2500 less than the '05 invoice. Autosite no longer lists the '04. Must have changed last week). I doubled up that savings by getting the same residual he was offering me on a 2005 (58%). Combine that with a strong money factor and I think I got one **** of a deal. I don't have tech but I'm paying over $200 less than his offer to you. I'm sure I missed something so feel free to ask if you have questions.

-NJJ

EDIT: forgot to mention, use the power of the internet. Go to infiniti.com and check inventory of several dealers in your area. Send them each an email and ask them for their best offer on the car you want. At that point just play the dealerships against each other. Many will start throwing in free service when they can't (or won't) go any lower on the cost of the car. Also, if you want something, then ask for it. Don't wait for them to offer it (because they won't). I know this sounds silly but generic questions like "Is that the best you can do?" will not gt you anywhere.
 

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Discussion Starter · #7 ·
NJ_Jackals said:
You don't need to focus on your payment so much (of course a good payment is the end game but don't need to jump there right away).

Work on the individual factors that make up the lease. Concentrate on cap cost (which is the selling price of the vehicle). You can use autosite.com to get invoice for the car you are looking at. Start with this number NOT MSRP. Most dealers will go right to invoice + $500. There is still room to work here. 59% residual is pretty good. Residual will usually be in the 55-60 range with average probably being 58. The money factor is where they can play with things a bit. I like to refer to the money factor as "the cost of money". To get you true interest rate, multiply your money factor by 2400. So, .00195 money factor is a 4.68%. I think he can do better there.

You can then use http://www.leaseguide.com/calc.htm to plug in your numbers and get an estimate of the lease payment. Infiniti Financial obviously has there own formula but you should be within $5-$8 dollar of there price. FINALLY, when you get good numbers for the factors above, ask them to shave some $$ off the payment. Let them achieve this anyway they want to.

Since your residual, and money factor are decent, you will get your biggest benefit by negotiating the cost of the car. I assume by "no money down" you meant "no cap cost reduction". There will still be some lease inception fees including bank fee, tire tax, motor vehicle, first months payment, etc. This will still be as much as $1600 in some cases. You can have them add it to the lease but you are increasing your payment at that point which is the opposite of what we are trying to accomplish. My final word of advice is make sure it is a payment you are comfortable with. Better to throw in $1000 for a cap cost reduction then be stuck with a lease payment you can't handle.

By the way, invoice on your car is $41128. Another option would be to do what I did. Get a new 2004 for several thousand less. The price I started with was $2000 below invoice (which is probably about $2500 less than the '05 invoice. Autosite no longer lists the '04. Must have changed last week). I doubled up that savings by getting the same residual he was offering me on a 2005 (58%). Combine that with a strong money factor and I think I got one **** of a deal. I don't have tech but I'm paying over $200 less than his offer to you. I'm sure I missed something so feel free to ask if you have questions.

-NJJ
GREAT! You covered a lot of things.

BTW, how much was you mf (no probs here w/ credit)? Is a mf of (1.9% / 2400) a fair play with leases? Is it still realistic to ask for a similar residual at this point, for 04s? Did you consider/account for the depreciation of 04s in your deal?

As for 05s, have you heard of anyone with under invoice pricing at this time of the year? I was thinking of pushing it under $500 invoice.

Thanks again!
 

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my mf is .0019. which is 4.56%. I thought it was a good deal but my friend is negotiating a G35 right now and is getting closer to .0017. You will not get 1.9% on a lease. You will only get those kind of rates on a purchase. I bought my fx at the end of Jan so I think you can still get a strong residual on an 04. The bigger problem will be finding an 04. ;) I settled for a silver one when I was really interested in DG. It had all the options I was looking for so it was fine with me. My opinion is you will be hard pressed to find anyone willing to lose money on an 05. 04s are another story. Dealers can't wait to get rid of them to make room for the 05s.

Did you consider/account for the depreciation of 04s in your deal?
Yes and no. I really don't care about the depreciation ofthe vehicle directly since there is no resale. I will be turning it in at the end of the lease. I did however use it to my advantage during negotiations. That is why I was able to get nearly $1500 off invoice and a strong residual. It was a good deal IMO. You can negotiate with these guys indefinitely but I don't know too many people who actually enjoy it. (I enjoy negotiating but not with car salesmen) When you get to a price that you consider a good deal for you, go for it. I'm sure there are many on this board that got a better deal than me, and others that didn't do quite as well. However, everyone picked a deal (or atleast I hope they did) that was good for them. Pisses me off that my friend is goign to get a better deal than me though, and I was the one who referred him! :evil:

Note that for a purchase I think there is a $2K cash back incentive on 04s right now. They do not offer it for leases but that is how I came to my starting price with them. Also, tell them you used to own a Nissan so you want the customer loyalty incentive.

-NJJ
 

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Discussion Starter · #10 ·
NJ_Jackals said:
by the way, I think $665 is a terrible deal. I ran the number and you should be able to get closer to $570 with relative ease. Looks like he started at MSRP and gave you about $1000+ off MSRP.

-NJJ
Thanks mann!

Yes, $665 was just plain playing with me -- it was expected anyways.

Atleast I now know what #s I should shoot for. I might just get lucky with a 04.

Will let you know how it goes. Thanks again!
 

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vishpool said:
PINITI-FX said:
Good thinking! If you get AWD/SPORT, you'd be Smart to add 6K more and do a 45. :eek: Very Smart!
Ok Ok! Not so smart :roll: You are right, to get to a comparable FX45, you would need 6k on top of the Base.

Anyone willing to help out with the #s? I don't quite know how and where to find the lease #s.

Thanks
I hope that You didn't misunderstand me, I was commending You on you reasoning. My only regret is I wish I had reasoned on that when I bought, I'd have a 45 Now. :? Much more there than +35HP & +59ft.lbs. Torque, also Stronger axels and gearing to handle it & power up/down rear windows too.
 

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vishpool said:
BigMatt said:
Just a quick note - the touring package is pretty much a "mandatory" option. The only way you can NOT get touring is to get a white FX with the willow cloth interior. And if you want the tech package, that requires the touring package, too.

Matthew
Gotcha!

How about the sport? Are the 20's really worth it?

I was thinking, getting a FX35 w/ sport+tour+tech is not so smart, as one could just jump to a FX45 at the price point.

When we got our FX35 the dealer happened to have some with 20" tires and No-Sport Pkg. The cornering ability was noticeably better and the ride was not as harsh as the sport pkg
 

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If you haven't seen this site already, check it out. They offer help with leases as well as purchases.

http://fightingchance.com
 

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Discussion Starter · #15 ·
PINITI-FX said:
vishpool said:
[quote="PINITI-FX":cv48z5ft]Good thinking! If you get AWD/SPORT, you'd be Smart to add 6K more and do a 45. :eek: Very Smart!
Ok Ok! Not so smart :roll: You are right, to get to a comparable FX45, you would need 6k on top of the Base.

Anyone willing to help out with the #s? I don't quite know how and where to find the lease #s.

Thanks
I hope that You didn't misunderstand me, I was commending You on you reasoning. My only regret is I wish I had reasoned on that when I bought, I'd have a 45 Now. :? Much more there than +35HP & +59ft.lbs. Torque, also Stronger axels and gearing to handle it & power up/down rear windows too.[/quote:cv48z5ft]

Oh...anyways, my thinking exactly! But, after a bit more of pondering, I couldn't convince myself in spending the extra money for the '45.

What do you mean about the rear windows? '35s don't have power rear windows?
 

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Discussion Starter · #16 ·
revOevoM said:
If you haven't seen this site already, check it out. They offer help with leases as well as purchases.

http://fightingchance.com
Does it really work in our case? I mean, in my case anyway, I only have 3 local infi dealers. So, I doubt that Fax Attack strategy might be of any help. Anyone have personal experiences using this for FXs?
 

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There are 5 dealers in my area (one being my preferred dealer where I test drove). I faxed to 3. After 20 minutes of faxing, I received my first call. The quote was waaay less than I thought I was gonna haveta pay. Second call came 10 minutes later - on target with the first price. I then called my dealer. They beat that price by another 100 bux. :D

After a couple friends used this method (also with great results), I regret not faxing more - even to dealers a couple hundred miles away. Who knows how much more I could've saved?
 

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Discussion Starter · #18 ·
revOevoM said:
There are 5 dealers in my area (one being my preferred dealer where I test drove). I faxed to 3. After 20 minutes of faxing, I received my first call. The quote was waaay less than I thought I was gonna haveta pay. Second call came 10 minutes later - on target with the first price. I then called my dealer. They beat that price by another 100 bux. :D

After a couple friends used this method (also with great results), I regret not faxing more - even to dealers a couple hundred miles away. Who knows how much more I could've saved?
Ok good, I might give it a try.

Thanks for reply!
 

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hey if you guys bought that could you explain some of the key points. Im not in the market for a car but always enjoy learning about that stuff.

revOevoM wrote:
There are 5 dealers in my area (one being my preferred dealer where I test drove). I faxed to 3. After 20 minutes of faxing, I received my first call. The quote was waaay less than I thought I was gonna haveta pay. Second call came 10 minutes later - on target with the first price. I then called my dealer. They beat that price by another 100 bux.

After a couple friends used this method (also with great results), I regret not faxing more - even to dealers a couple hundred miles away. Who knows how much more I could've saved?
 

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FightingChance provides a few things...

  • list of base models and all available options
    MSRP and "invoice" for above
    incentive, rebate and holdback information on all current brands and vehicles
    timely info about auto industry and specific brand requested
    inventory (days supply) info
    detailed step-by-step of their proven negotiation method
    examples of regional buying experiences
    samples of buy and lease fax cover letters
    phone support, if needed
    residual values when ready to sign
    testimonials
Some of this information can be had for free from other sources. I found it to be a valuable tool all together in one package. Files can be mailed or sent via email in pdf.

Their "fax attack" method is basically this: fax the identical requirements sheet (complete with MSRP, invoice, incentive, etc) to as many dealers as possible within a reasonable range. Include what you want - base model, options, color, etc. and what you know - price, incentive, supply. Let them know you'll buy from the dealer who offers the best price. Sit back and wait for offers to come in.

What I like best about this method - you don't have to deal with one-on-one salespeople; fax is directed to fleet / sales manager; you never offer a price - let them tell you what they're willing to sell the car for; once a good offer is in, you can play later offers off it.
 
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