Okay here is my situation. I have a 2003 G35 CB Coupe. Fully loaded with 35K Miles. My lease ends in August of 2007 (4 Year Lease). I plan on having 48k Miles on it at that time (right at the limit). I pay $500/month (I know....a lot), but my buy out option is $17,100.

I know I can probably buy the car out, sell it for a slight profit, and buy another car, or keep the car and drive it for a while. Either way I love the car and really hate parting with it.

My question is, when I go to the dealership in about 9-10 months, what kind of options should he give me if I was to drive out with an 07 or 08 Model? They can probably sell the car for a LOT if i just turn in my lease, so can I use this as leverage? Some people have suggested taking it to another car dealership like BMW or Lexus and selling it to them at the KBB price and put that $ down on their brand car. I need suggestions please!

 

Get rid of it now before the new body coupe comes out

 

Turning a lease car in early can lead to big penalties, depending on your agreement. Check that out first. Also, check your buy out price. That is the amount you will have to sell it for to break even if you were to sell it now. Either way, you have a LONG time until you need to worry it.

Personally, I would hold on to it for a year, turn it in and get the new coupe (which should be out when your lease expiers).

 

As stated above, my buyout is 17k

 

If you really enjoy your car, then just buy it right out.

If you do indeed get a new car from the same dealer, they will give you more discount as it will be your 2nd (maybe even more?) car from them.

 

There are several options. Besides the usual (you buy it back, Nissan takes it back), the dealer can actually buys it off Nissan Finance (e.g. they want to sell it as a used car themselves to make money). So it really depends on how much your car is worth on the market. The dealer can also offer to absorb your lease payments depending on how much you're paying. Note that if Nissan (the dealer) absorbs your payments, they don't pay as much as you because for one thing, they don't have to pay tax. Ask them about an ETO value - it's the actual percentage of your monthly payment that the dealer has to pay if they are to absorb your payments. But at the end, it still costs them something to abosrb your payments so it will work into your deal with them, but at least it's some equity. Also keep in mind you may still have to pay for wear and tear like tires and dents for examples. So basically, you have a lot of options for you to get into a new car and the more equity you have on your old car (e.g. low mileage, low buyback price), the more leverage you have. I personally would go for a new model - new technology, new safety and best of all, it's covered under warranty. Hope that helps and good luck.

 

wrong. nmac doesnt give discounts anymore for the dealers rule of thumb,..never lease longer than 39 months. the residuals are way worse will cost more than 39 months. second never buy a leased car..just lease another one. its stupid to do that. you pay so much more than if you bought it. the sole purpose of leasing is payment in relation to use. so if you pease it and love the car..just lease another one. trust me! its retarded to buy it afterwards....i set up leases everyday i can do it from scratch with money factors residuals time and aq fee..550 ifs. just do 15000 because the difference between tht and low mile is only $8. thats it. get excess wear coverage and you are set....gap is already in there...if **** gets too crazy, make it find the bottom of a lake! trust me kid...dont buy anything. lease it. put wheels and all that on it, but when its over swap back, and put wheels on new one. later on you will move up in car. so do the same thing until you buy that burgundy buick centry that all old people buy anyways. until then you will always have a car payment of some sort!

pm me if you need help and i will give you my work number...i will get you all the dirt....ifs programs. although i work for mercedes....i get my infiniti stores rate sheets and program sheets on my fax...its next door. unless you are in florida..then no way...i gotta protect my depts income...!!! you know fvck the competition!!

 

Don't know where your located, but lease or own, i always run my cars by carmax/ Sometimes i sell too them sometimes not. Go to KBB get "good" trade in for your car and that is about what to expect from CarMax. A few years back I had a crappy Jeep they actually gave me 17K for it, and it was a POS.
Pete