New to the forum and working out a lease deal for a New (Dealer Demo) 2017 Q60 Red Sport w/ Premium Plus Package, no other options. Car has about 3500 miles and is the GMs demo.
MSRP: $55,090
Residual: 52% ($28.636.00)
Sales Subtotal $47,530.05
Rebate: $1000
Dealer Cash: 1,050
Trade In: $16000 ($19,500 owed)
Down Payment $5000 (had to put about 2k in current car anyway for 60k mile service, new tires, so call it 3k)
Tax: 8.05
MF: Mum is the word. Need to get this number but hopefully running it at .0003
License Fee: $810.25
Bank Fee: $700
Documentation: $499
Payment: $597 tax including.
Bottom line - i’m missing something. Seems like the payment is way off given its a mildly optioned q60rs, w/ miles. Even with the negative equity, it seems it should be a good deal lower given the down payment.
That’s not really how it works. It’s $5K down payment, call it $5K. So you’re putting down $5K but you have $3,500 negative equity which means you’re putting down $1500, effectively. What you can do with $2K of it is irrelevant.
Your lease is then $597 including tax with $1500 down.
That seems kinda pricy for $55K MSRP. And bigly yuugely pricy for $55K MSRP loaner (with untold number of farts).
Also it’s not an either/or between MSDs and down. They can both work individually or you can combine them. But typically if you do one, it lowers the payment enough so that you don’t have to do the other. But they are not mutually exclusive.
Here’s how I did on a similarly equipped 2018 Red Sport 400, RWD
Black on light tan interior, MSRP ~$55,600
Had 800 miles on it
True Zero down lease, no first payment or fees paid at time of signing
$525.00 per month payment for 39 months
10k miles per year
Prior Infiniti owner, so got some moderate loyalty cash (can’t remember exact amount)
Deal signed August 31, 2018
Atlanta, GA
Worked this deal for about 6 months with three visits to the dealer (was bringing in my existing lease for service, etc. and touching base with salesman each time. Started the process at $900 per month).