Meltdownblitz

iTrader: (1)

As I put in the title, my lease is almost up. I originally leased for 3 years 36k miles. I currently have 51k and my lease is up in May, still have a few months to go. I know I went way over my mileage.

I think they said the car is worth approx 26k at the end of my lease whether I have 36k miles or 100k. (when you lease a car they approximate how much the car will be worth at the end of your lease.)

I'm pretty sure the overage on miles will be a few grand but I remember them telling me that if I get another infiniti or another car from them in general that they usually would waive the over the mileage fees.

What do you think is the best thing for me to do in this situation? Get another infiniti if waived, pay the few grand and go somewhere else, etc?

Opinions appreciated, thanks!

Chico

Letting them eat the miles is a great deal, but you have to make sure they're not charging you for them in the new lease. I'd say negotiate a deal with them to see if they are really eating the miles. Otherwise there's not reason for you to get the car from them. Advise: get 15K next time. Also, given the steep discounts going on right now on the G37 you should bring it in and let the dealer take care of your remaining payments and drive out with a new car before you pile up more miles. Dealers are really pushing sales right now and I bet you they would be willing to waived those miles if you get a new car before Jan 3. Right now it's really easy to find a dealer that can give you employee price, my advice: do it now. You might not find a good deal in May, or a dealer that will waive those miles.

TheIvoryG

iTrader: (3)

All depends, but I'd say you're going to pay for those miles no matter what...maybe not pay in full, and you might be able to work a deal, but you're going to pay more no matter what. Best case, they just don't cut you as good of a deal on the new car.

LightsOut

iTrader: (7)

if you plan on purchasing or leasing again. Then turn your car in early, let them eat the mileage and last payments. Remember you dont have to return the car back to the same dealer of purchase. Start working the internet managers online and dont take a step into the dealer until your happy with what deal you got. Walk in sign papers and leave.

also dont put a down payment on a lease.

I think its .25 cents a mile. So figure the math.

ScottyBeGood

+1, Finally someone that knows what there talking about.

First off, find out what your buyout costs is this is your payoff if you were to buy your car outright.

Second, do some research as to what your car is worth from a retail and trade-in value and do an average, this will give you an approx of what your car is worth on the high end. Keep in mind you want to buy a car for as little as possible so you are not going to get your car at a full retail value.

Do the research. IMO 26k sounds high to me (are you sure the 26k is not your payoff), research it and think about it. I wouldn't pay 26k for a 2008 with 51k miles. Considering that at the end of your lease you will be over 60k miles and the car will not qualify for the Certified Warranty, dump the car now.

Beer Magazine

There are 3 options with a lease.

1. Complete term, pay mileage, or negotiate new lease.
2. Buy the car, you know the payoff and sometimes they will "deal" on the price (but mileage is an issue)
3. Trade in the car. It's not the same as lease end. You may lose less if you negotiate the trade in price rather than the mileage penalty.