Meltdownblitz

iTrader: (1)

Alright let me start with I bought the car 3 years ago leasing it, 2008 model putting 11k down (I know stupid), for 12k miles a year. Over that time my car has been in one accident which was not my fault but shows up as fender work on the carfax. I got it appraised at carmax for 17k, although infiniti appraised it for 22k. The buyout price is 26k.

The car has currently 55k miles, they want around 5k to walk out of the car.

Purchasing it is 26k + 3100 for extended warranty + taxes, fees = 32,9.
- With 8 grand down they want 590 a month for 60 months.
- With nothing down they want 650-700 a month.

Extra Notes/Concerns:

- Let me mention I have around 10 grand in the car, I like the car and don't mind keeping it.
- Buying out the lease Infiniti is ripping me off, on any loan calculator its supposed to be around 400 something with 8k down financing 32k. And they are trying to charge 590 a month for 60 months. But what can I do? Its the only Infiniti dealership in Vegas.
- With the car being worth less then the buyout, I'm not sure that its a good idea to purchase it or walk out of it.
- I was thinking it might be a better deal to purchase another lease with 15k miles a year to get out of the lease without losing mass amounts of money, then purchase each time from then on.
- Or would it be better to go to or try to work over the phone a deal with a California dealership and have the car transfered here?

What would you do in this situation? Whats the cheapest way to go and the best deal for my pocket in this situation? Thanks.

da mayor

iTrader: (2)

damn you're way over the mileage and who knows how much your preinspection costs are if you haven't done so.

I would pay the fees and walk away from the car.

Meltdownblitz

iTrader: (1)

Better then buying or leasing a new car from them?

Beer Magazine

I'm confused, and it seems like you're not even looking at your own math.

First off, 32,900 for a used G is insane. You can find lower mile ones for less.

You are over the miles which at .25/mile is $4750, so if you do that you come out ahead the 3K you would have put down again (BTW you must have made some sales guys day with putting 11k down on a lease, what were your payments? $100?)


Auto trader is showing the average price of a 08 coupe at 28K, so your purchase price I guess is okay, although I am sure you can get them on the lower end with less miles.

If you sell all that stuff you have listed maybe you'll get another $1500, so you now are back up to 4K without buying your car.

But it all comes down to what you were paying a month? They don't want to work with you on a new lease or car? I'd go to a sales guy and tell them, you want to work with them, but that takes them eating the miles on that car and getting you into something else.

FYI you can go to ANY dealer to turn the lease in.

Meltdownblitz

iTrader: (1)

Well first off sorry about my math, i was going off what i heard, i didnt actually do it myself.

Second i know i, actually my parents, wasted money putting that much down on a lease. My payments were $388.

The reason the car comes to 32k is because of the warrenty which is 3100.

So bottom line is to get outta this and get a new car from them if they'll eat the miles? I doubt they will. They are stingey because they are the only infiniti dealer in vegas. And i didnt know i could have any dealer take me out of this lease..

_ant_

iTrader: (4)

You put down $11,000 and still had a monthly payment of $388.

WTF.

_ant_

iTrader: (4)

Pay the 5k and walk away.

Meltdownblitz

iTrader: (1)

I was thknking that but i need another car asap. I was thinking about seeing what they can do on a new one.

Meltdownblitz

iTrader: (1)

Ok, I think what I'm thinking about doing is getting out of this car and getting into a new G37 coupe. But I'm thinking about shopping in a different state over the phone for a G, anyone know any good dealerships and sales men in a state that borders Nevada that are willing to wheel and deal? There's only 1 Infiniti dealership in Vegas and they are kind of sticklers since they are the only dealership in Vegas, I feel like they think they can get away with anything they want as far as price goes. What do you guys think of this idea?

_ant_

iTrader: (4)

My advice would be to do RESEARCH first. Lots and lots of research so you know what you should be paying. If you plan on leasing, learn how to calculate lease payments so you dont get raped like you obviously did the first time around.

Beer Magazine

They aren't sticklers, they know you got ripped off and maybe are holding out. Tell them you are paying the $5k and do the smart thing...or tell your parents to be smarter. You wasted a ****ton of money.

Beer Magazine

Man the more i read of what you paid, what you are willing to do and the not listening I'm starting to think this is a BS post. Do some research dude.

Beer Magazine

Again, YOU are the one with the money. YOU are the one that has the upper hand. They got you good on your last lease, unless you are missing some information of negative equity or something. So this time BE SMART. You asked for advice and we are telling you the smart things.

Tell them you want to terminate the lease, they aren't going to make the money on you paying the miles. Since you basically gave them $8K for nothing anyway, tell them you want them to eat the loss and put you in a new car. and this time do some research on lease rates.

Also tell your dad to send me $4,000 for saving him money.

NYCMaxima

388 x 36 = 13,968
13,968 + 11,000 = 24,968 (money you spent on this car over three years)
39,000 (assumed MSR at the time) - 24,968 = 14,302 shouldve been the buyout.
According to their calculations: 32,000 + 24,968 = 56,968. If you were to buyout this car at the end of things, that is how much you wouldve paid for it, and that 56k doesnt even include interest for the loan.

_ant_

iTrader: (4)

Agree 100%. I call BS on this.