Anybody buy the car at the end of the lease?
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Anybody buy the car at the end of the lease?
My 24 mo lease on my 08 G35 ends June 10th. The dealer I bought the car from said they won't negiotate the price if I decide to buy the car at the end of the lease (I'm guessing because of the negiotations already occured upon signing the lease).
I did put (too much) $ down to keep my payment low, so I'm really thinking about just buying my car in June. I'm wondering if I shop around, if a dealer would lower the buyout cost?
Then again...I keep thinking about other toys I can get instead! Decisions, decisions.....
I did put (too much) $ down to keep my payment low, so I'm really thinking about just buying my car in June. I'm wondering if I shop around, if a dealer would lower the buyout cost?
Then again...I keep thinking about other toys I can get instead! Decisions, decisions.....
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From: PA
However, buying a car w/ a known history = priceless.
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From: Toronto, GTA north
Not usually, if it's a straight buy out. (done it maaaaany times)
You can however get deals when rolling over into a new lease.
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From: Westchester Co, NY
I did it too a few times. Some good, some bad. I am also considering buying my 2007 G35X - comes due in June after 39 onths. One main reason, is the mileage is low 22.7K - my job changed from taking a commuter train everyday in the past 2 years from driving 80 miles a day. I negotiated a 16.5K miles per year in my lease when I negotiated in April 07. I THINK, (i'll check my lease in a few days) that the buyout [depreciated value] is about $20 to $21 K. My Dealer (Pepe Infiniti, White Plains, NY - who have been terrific) sent a flyer : 2007 G 35X Premium and Sport package {I don't have the Sport Package} with 49K miles @$27K . It look like a no - brainer for me to buy @$20.5K. If I can add a 3 year Warranty like they offer on CPOs , take a 3 year loan. Good to go. It's worth serious consideration.
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From: Philly Burbs
Infiniti typically doesn't negotiate lease buyouts because they have insurance on their leases for when the residual value drops below what was planned on the lease (Toyota has this as well). I tried on my M about a year and a half ago and had no love - even in the middle of the horrible leasing issues the industry was facing.
Also, if they let you buy out the car then they can't sell you a new one! They would rather keep their numbers and production up and write off the loss. The manufacturers are in the business to sell NEW cars so that's what they want to incent for their lease holders.
With that being said, if you owe much less than the car is worth, you mght be able to use it as a trade-in with the dealer. They might give you a few grand (if you are $7k under market value) toward a new car. They would just buy out the lease from Infiniti for the actual buy-out and then credit you the difference. I wouldn't suggest this on a new lease because you are losing the money but maybe on a purchase? If you have that much equity, maybe the dealer can work it so you get a similar payment on a new car with just a little more out of pocket?! You have to do the math.
You can always try to sell the car privately as well - you'd probably get more doing it that way - then you can put some toward a lease and the rest in your pocket!
Jay
Also, if they let you buy out the car then they can't sell you a new one! They would rather keep their numbers and production up and write off the loss. The manufacturers are in the business to sell NEW cars so that's what they want to incent for their lease holders.
With that being said, if you owe much less than the car is worth, you mght be able to use it as a trade-in with the dealer. They might give you a few grand (if you are $7k under market value) toward a new car. They would just buy out the lease from Infiniti for the actual buy-out and then credit you the difference. I wouldn't suggest this on a new lease because you are losing the money but maybe on a purchase? If you have that much equity, maybe the dealer can work it so you get a similar payment on a new car with just a little more out of pocket?! You have to do the math.
You can always try to sell the car privately as well - you'd probably get more doing it that way - then you can put some toward a lease and the rest in your pocket!
Jay
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From: NYC
Off Topic:
Great Dealership, I get my car serviced there all the time, very hospitable. Those salesmen, on the other hand, are relentless, they call me weekly to trade in my 08 for the "new and improved model" LOL.
Great Dealership, I get my car serviced there all the time, very hospitable. Those salesmen, on the other hand, are relentless, they call me weekly to trade in my 08 for the "new and improved model" LOL.
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Infiniti typically doesn't negotiate lease buyouts because they have insurance on their leases for when the residual value drops below what was planned on the lease (Toyota has this as well). I tried on my M about a year and a half ago and had no love - even in the middle of the horrible leasing issues the industry was facing.
Also, if they let you buy out the car then they can't sell you a new one! They would rather keep their numbers and production up and write off the loss. The manufacturers are in the business to sell NEW cars so that's what they want to incent for their lease holders.
With that being said, if you owe much less than the car is worth, you mght be able to use it as a trade-in with the dealer. They might give you a few grand (if you are $7k under market value) toward a new car. They would just buy out the lease from Infiniti for the actual buy-out and then credit you the difference. I wouldn't suggest this on a new lease because you are losing the money but maybe on a purchase? If you have that much equity, maybe the dealer can work it so you get a similar payment on a new car with just a little more out of pocket?! You have to do the math.
You can always try to sell the car privately as well - you'd probably get more doing it that way - then you can put some toward a lease and the rest in your pocket!
Jay
Also, if they let you buy out the car then they can't sell you a new one! They would rather keep their numbers and production up and write off the loss. The manufacturers are in the business to sell NEW cars so that's what they want to incent for their lease holders.
With that being said, if you owe much less than the car is worth, you mght be able to use it as a trade-in with the dealer. They might give you a few grand (if you are $7k under market value) toward a new car. They would just buy out the lease from Infiniti for the actual buy-out and then credit you the difference. I wouldn't suggest this on a new lease because you are losing the money but maybe on a purchase? If you have that much equity, maybe the dealer can work it so you get a similar payment on a new car with just a little more out of pocket?! You have to do the math.
You can always try to sell the car privately as well - you'd probably get more doing it that way - then you can put some toward a lease and the rest in your pocket!
Jay
Those are some great tips. Just what I was looking for. I had put down 5k and I hate to throw that away, but I'll start doing my research on everything.
Thanks!
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From: Westchester Co, NY
Couldn't agree more on Pepe Infiniti... I leased my car through them. If i can buy the car from Infiniti [not the dealership]for the residual value (still need to check that lease !) I am thinking that's the way to go. It's the extended warranty I would be interested in. Can that be purchased separately for a previously leased vehicle?
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Joined: Nov 2007
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From: Westchester Co, NY
Infiniti typically doesn't negotiate lease buyouts because they have insurance on their leases for when the residual value drops below what was planned on the lease (Toyota has this as well). I tried on my M about a year and a half ago and had no love - even in the middle of the horrible leasing issues the industry was facing.
Also, if they let you buy out the car then they can't sell you a new one! They would rather keep their numbers and production up and write off the loss. The manufacturers are in the business to sell NEW cars so that's what they want to incent for their lease holders.
With that being said, if you owe much less than the car is worth, you mght be able to use it as a trade-in with the dealer. They might give you a few grand (if you are $7k under market value) toward a new car. They would just buy out the lease from Infiniti for the actual buy-out and then credit you the difference. I wouldn't suggest this on a new lease because you are losing the money but maybe on a purchase? If you have that much equity, maybe the dealer can work it so you get a similar payment on a new car with just a little more out of pocket?! You have to do the math.
You can always try to sell the car privately as well - you'd probably get more doing it that way - then you can put some toward a lease and the rest in your pocket!
Jay
Also, if they let you buy out the car then they can't sell you a new one! They would rather keep their numbers and production up and write off the loss. The manufacturers are in the business to sell NEW cars so that's what they want to incent for their lease holders.
With that being said, if you owe much less than the car is worth, you mght be able to use it as a trade-in with the dealer. They might give you a few grand (if you are $7k under market value) toward a new car. They would just buy out the lease from Infiniti for the actual buy-out and then credit you the difference. I wouldn't suggest this on a new lease because you are losing the money but maybe on a purchase? If you have that much equity, maybe the dealer can work it so you get a similar payment on a new car with just a little more out of pocket?! You have to do the math.
You can always try to sell the car privately as well - you'd probably get more doing it that way - then you can put some toward a lease and the rest in your pocket!
Jay
My lease is up end of this year...and while I have never purchased one off lease...I may just do it this time. My residual is only 23k and my mileage will be under 30...so it's a good deal. And by then maybe Infiniti will fudge a bit. I have over 4k worth of improvements and owned since new. So it would make sense.
If not...then i'll just get into a G37S coupe.
If not...then i'll just get into a G37S coupe.
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From: Chino, CA
Wow, what a great timing for this post. I just got back from the Infiniti dealer (in Montclair, CA) because I terminated my lease and switched to a buy out. Infiniti is currently offering 3.9% on buyouts. I know everyone's numbers are different, but I dropped my monthly payment by $13 (not much, but is still less) and now those payments go towards the principal I owe instead of the lease. Here are my numbers so others can compare:
2007 G35S, 34,000 miles (and still in fantastic condition!!!)
39 Month Lease, $452 a month (ends in April, terminated Jan 26, 2010)
Residual: $21,000
Kelly Bluebook Value: $22,000 - $24,000 depending on the usual.
Buy out: 5 years, $439 a month at 3.9%
That $439 includes taxes on the residual, DMV registrations, and interest on the loan (if you do the math, the actual amount payed for the car is roughly $26,000).
I could not be happier! I get to keep the car (and as someone pointed out, keeping a car you love is priceless) at a price point that has no comparison. I cannot think of any car I would rather be driving that costs $21,000.
I hope that information is useful.
2007 G35S, 34,000 miles (and still in fantastic condition!!!)
39 Month Lease, $452 a month (ends in April, terminated Jan 26, 2010)
Residual: $21,000
Kelly Bluebook Value: $22,000 - $24,000 depending on the usual.
Buy out: 5 years, $439 a month at 3.9%
That $439 includes taxes on the residual, DMV registrations, and interest on the loan (if you do the math, the actual amount payed for the car is roughly $26,000).
I could not be happier! I get to keep the car (and as someone pointed out, keeping a car you love is priceless) at a price point that has no comparison. I cannot think of any car I would rather be driving that costs $21,000.
I hope that information is useful.
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Well, I'm waiting on a call back from the dealer about the 3.9% deal you had mentioned.
My current payoff is 27928 and the buyout in June at end of 24 mo lease is 26831 (plus 150 dealer fee and tax, etc...).
The current blue book trade-in good condition is 25000 with my options.
I am sort of struggling with the notion of paying another 5 yrs on this car that I've already paid nearly 2 years on....but my miles are low (17k) and I treated the car pretty good (except for the occasional tank of regular and the few beatings down the 1/8 mile track..hehe).
I'll update with the stealership findings....
My current payoff is 27928 and the buyout in June at end of 24 mo lease is 26831 (plus 150 dealer fee and tax, etc...).
The current blue book trade-in good condition is 25000 with my options.
I am sort of struggling with the notion of paying another 5 yrs on this car that I've already paid nearly 2 years on....but my miles are low (17k) and I treated the car pretty good (except for the occasional tank of regular and the few beatings down the 1/8 mile track..hehe).
I'll update with the stealership findings....
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From: Motor City
Hershelg123,
If u dont mind my asking, how much could you have bought the car for when you leased it initially?
I was doing the math on your pmnts 39x452 + 60x439 = 43968 which seems like a lot but i guess it depends on what options your car has and such. So maybe with loan interest, 44k is about right.
If u dont mind my asking, how much could you have bought the car for when you leased it initially?
I was doing the math on your pmnts 39x452 + 60x439 = 43968 which seems like a lot but i guess it depends on what options your car has and such. So maybe with loan interest, 44k is about right.
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From: PA
Hershelg123,
If u dont mind my asking, how much could you have bought the car for when you leased it initially?
I was doing the math on your pmnts 39x452 + 60x439 = 43968 which seems like a lot but i guess it depends on what options your car has and such. So maybe with loan interest, 44k is about right.
If u dont mind my asking, how much could you have bought the car for when you leased it initially?
I was doing the math on your pmnts 39x452 + 60x439 = 43968 which seems like a lot but i guess it depends on what options your car has and such. So maybe with loan interest, 44k is about right.
481 x 96 months = $46,176.
However, you might be able to get the 0% for 3 years (or 1.9% for 5 years?) if they offered during the time but you cannot get the cash offer (if available) which make the selling price higher.