People pay for their cars various ways – cash, trade equity, car loans and leases - these are the four principal sources of funds.  That much is obvious, but that’s about where the obvious stops. 

This is why Infiniti of Scottsdale

employs seasoned finance experts to assist you

in putting together the most favorable package for you.

Our Finance Manager will review with you all of your various acquisition options, make suggestions for you to optimize your financial arrangements, and carefully structure a loan or lease package that works for you and your budgetary objectives.

Regarding loans, Infiniti of Scottsdale acts as the agent for many different lending sources. These include Infiniti Financial Services, Inc., many local and national banks, and many credit unions.  What this means, is that we (here at Infiniti of Scottsdale) don’t actually make the loan. We take the application and all the supporting data, and then submit these to the lending institutions for approval and funding. All banks and lending institutions have programs which change – usually monthly – sometimes more often.  Each bank has its own requirements as far as maximum loan amounts, cash down payment requirements, credit score, credit history, etc.  Usually, we get our approvals very quickly (virtually immediately), but sometimes, it take a little longer.  It’s like this in car dealerships throughout the USA.    

What is different here from some dealerships is that we try very hard to make sure that changes are rare.  When you leave here with a car and a car loan, very rarely is the final approval different from that to which you committed while here. This is something which we avoid.  Sometimes, though, we try to improve on the commitment made by the bank involved – based on the very large volume of loans which we place with the bank.  For instance, sometimes a credit score may fall just short of a better program’s requirements; depending on the circumstances, occasionally, using our volume leverage, we are able to get the bank to upgrade the loan to the better level – thus reducing the customer’s payment.  This is the kind of thing that works to your benefit when you allow our Finance experts to go to work for you.

Interest rates are another area where we can help.

It’s important to know that most area credit unions

work with us.

We act as the lending agent for every member Credit Union Advantage (Click here for a complete list) plus many others.  If you have a question about whether your credit union is represented here, just ask.  The good news about credit unions is their rates - sometimes.  Often, credit union members get rates which are a little better than the prevailing bank rates.  When this happens, we make the credit union loans directly to you. Usually it is not necessary for you contact your credit union in advance. 

It is also important to know that there are numerous variables which go into determining the rate.  Obviously your credit history and score is important, but so is the length of the loan, whether it is for a new or a used car, how much (if any) cash is put down on the car, and more…. It is virtually impossible to determine with any great assurance in advance what the rate will be – because these other variables are subject to change right up until the car is purchased and the loan is committed.  Finally, occasionally, on new cars, IFS has promotional rates for well-qualified buyers which are well below the prevailing market. When these are available, you loan rates are even better.

It surprises some people to know that about half of our cars are leased.  Most of our leases are done through Infiniti Financial Services, Inc. (IFS) – but not all.  IFS is a subsidiary company of the Infiniti parent company and is also associated with Nissan Motor Acceptance Corporation (NMAC).  IFS is dedicated to packaging the most favorable terms, especially lease terms, for the Infiniti Brand.  Whether your lease is done through IFS depends on your particular circumstances.  When there’s a choice, it is your benefit that determines the selection.

Here are two groups who can qualify for special

arrangements
 

 

 

About half of the cars we "sell" are actually leased. 

That’s a lot.  Many people have become very familiar with leasing and love the benefits.  And yet there are still some people who are predisposed against leasing.  It is absolutely true that leasing is not for everyone, but for many, leasing is a smart way to acquire a new vehicle. 

 

If you drive very high mileage, then leasing is probably not for you.  If you like to keep your vehicle for many years (more than about 4), then again leasing is probably not for you.  But if you have average mileage, something in the 10,000 to 18,000 miles per year; and if you like to get a new car every 2 to 4 years, then you are very possibly an excellent candidate for leasing.  
 

 

There are big benefits to leasing  
The vehicle depreciates, but the leasing company takes that risk – you don’t.   Some business people find easier tax deductions in leasing than ownership – but check with your accountant.

 

Most people drive their leased cars to the end of the lease – and then simply turn in the car and keys with no further obligation.  The end of the lease occasionally poses concerns for some customers, but there are really only two things to have any concern about  - mileage and vehicle condition.  Leases have mileage allowances which are set by you in the beginning.  If, at the end,  the leased vehicle has mileage equal to or less than the contracted mileage, then there is no extra mileage cost. If you go over the mileage allowed, then there is a “mileage penalty” – usually about 18 cents per mile.  At lease end, the lease usually requires that the vehicle’s condition should simply reflect normal wear – the vehicle will be inspected.  Damage above normal wear will be assessed.  These two items usually do not pose extraordinary cost.

 

A common question about leasing is whether you can “get out” of a lease early.  The answer is always yes – but not always advisable.  The two ways to exit a lease early are to either pay the remaining lease obligations, or alternatively to “trade” the leased vehicle for another car.  In this second option, the leased vehicle is appraised as any trade would be, and the dealer takes ownership of the vehicle by buying it from the leasing company for the “dealer pay off”.  Similarly, the lessee (the customer) can also “buy out” the lease – the purchase price being pre-determined in the lease itself.  These “buy outs” are almost always non-negotiable.

 

The bottom line is that lower down payments, lower monthly payments and having a new car more often are the benefits which have driven leasing to higher levels than ever before.  Ask your Infiniti of Scottsdale Certified Sales and Leasing Consultant if leasing is right for you.

Serving Scottsdale Arizona