2008 g35 sports prem. nav lease
#16
03-09-2008, 03:27 PM
Sounds like you in your case you should do this for sure!!!
Most people don't realize this and most dealers would happily not tell you. Here are some more details in regard to my deal. I had a 2005 Legacy with 34k miles. The retail price is about 20k and the buyback was $14800. I could probably sell it myself for 18k since I am not a dealer, but my backback is more than the dealer (16k in this case) because I have to pay a buyback fee ($350.00) and I have to pay tax. A dealer just buys the car from the leasing company with no tax and no fee. They can of course sell it for closer to the 20k mark since people are willing to pay more from a dealer. On top of that in my case I had 3 months left (2 payments) and the car was due for state inspection. I was fairly sure it needed brakes too. So instead of buying brakes and inspection for a car I don't own, they bought it. It's a win win thing.
I am not sure it wil work in all cases but it did for me. The other thing in my favor was Subies are usually leased at a deprection of 45% (set by banks) and in the New England/NY area they are worth more than since they are in high demand. Due to the fact the crappy weather we have... drove through 6 inches of ice just last night. So anyway, that helped me. The leases on Infinitis are pretty good becasue their depreciation is like 55% after 3 years. Since you have half the mileage you are allowed, you have a car that is woth slighty more than what was expected. I would wait untli a few months to the end of your lease and tell them you want to trade in. Get the buyback figure first. Even if they give you $500 or a thousand it's worth it. Just make sure they don't tell you they are giving you 1k and then simply just not drop on the new lease. That is a big scam. I stil got my new car right around invoice.. Also, other important thing, make sure the buyback covers everything!!! Sometimes, the buyback they give the dealer assumes that you make the rest of your payments. Tell them you want to TRADE IN. That means they buy the car. Some dealers will take the car, not as a trade, as a early return. Then you are stuck with your remaining payments.
Hope all this rambling helped you out man...
Most people don't realize this and most dealers would happily not tell you. Here are some more details in regard to my deal. I had a 2005 Legacy with 34k miles. The retail price is about 20k and the buyback was $14800. I could probably sell it myself for 18k since I am not a dealer, but my backback is more than the dealer (16k in this case) because I have to pay a buyback fee ($350.00) and I have to pay tax. A dealer just buys the car from the leasing company with no tax and no fee. They can of course sell it for closer to the 20k mark since people are willing to pay more from a dealer. On top of that in my case I had 3 months left (2 payments) and the car was due for state inspection. I was fairly sure it needed brakes too. So instead of buying brakes and inspection for a car I don't own, they bought it. It's a win win thing.
I am not sure it wil work in all cases but it did for me. The other thing in my favor was Subies are usually leased at a deprection of 45% (set by banks) and in the New England/NY area they are worth more than since they are in high demand. Due to the fact the crappy weather we have... drove through 6 inches of ice just last night. So anyway, that helped me. The leases on Infinitis are pretty good becasue their depreciation is like 55% after 3 years. Since you have half the mileage you are allowed, you have a car that is woth slighty more than what was expected. I would wait untli a few months to the end of your lease and tell them you want to trade in. Get the buyback figure first. Even if they give you $500 or a thousand it's worth it. Just make sure they don't tell you they are giving you 1k and then simply just not drop on the new lease. That is a big scam. I stil got my new car right around invoice.. Also, other important thing, make sure the buyback covers everything!!! Sometimes, the buyback they give the dealer assumes that you make the rest of your payments. Tell them you want to TRADE IN. That means they buy the car. Some dealers will take the car, not as a trade, as a early return. Then you are stuck with your remaining payments.
Hope all this rambling helped you out man...
#17
03-09-2008, 04:22 PM
Originally Posted by mossman
They said they gave me 2k from my car (the lease was ending). They probably only gave me 1k and dropped the negotiated price on the car but whatever, same difference.
It was kinda nice to be ending a lease and get money back on a trade in for a car I don't own. I take good care of my cars and the lease buy back was less than it's current retail price.
It was kinda nice to be ending a lease and get money back on a trade in for a car I don't own. I take good care of my cars and the lease buy back was less than it's current retail price.
#19
03-10-2008, 07:10 AM
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#20
03-10-2008, 06:21 PM
Originally Posted by mossman
Hope all this rambling helped you out man...
Although I'm wondering how common this is.
One of the things I am considering - is if my Infiniti dealer doesn't want to play... That maybe a BMW dealer would... If I could get pull $2k of value out of my car (possible, but not highly likely)... It might make a car I wouldn't normally spend extra money on, worth it to me.
The more I research - the more I find few cars that really suit what I'm looking for.
BMW - too expensive
Acura TL - not enough power
IS250 AWD - too small, not quite enough power.
Volvo S60 (6 cylinder) - too expensive
So I think I would want a G35x/G37x to replace my 2005. But if other dealers want to give me money, and my Infiniti dealer doesn't, I'll certainly re-consider one of the above.
Back to my question though - how many people have been able to "trade in" a lease and get money for some of the value between what a dealer could sell it at versus the buy-out price of the leased vehicle?
#21
03-11-2008, 12:58 AM
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