shtaka

I'm thinking about retirement and don't want a $575 a month lease payment hanging over my head. I have about 17 months left. How badly will I get screwed if I opt to buy the car now? Will IFS let me do that? Generally, whats the best way to get out?

Dark Sarcasm

iTrader: (1)

Depends on a lot of factors. Biggest factor is mileage and the current value of your G. Call the bank and ask how much is owed on your vehicle.

rAiN

iTrader: (5)

try leasetrader.com?

Beer Magazine

You don't get screwed if you BUY the car. You call and get your BUYOUT number, which you can do from the day you leased the car.

If you can buy the car, what does it matter if you wait 17 months then buy or buy now?'

There is no way "out" of a lease. You are liable for the amount you leased, or the price of the car. Simple.

idonotmatch

Not to threadjack, but has anyone had first-hand experience with transferring their lease over to someone else?

jddssc121

yes, thru BMWFS. It was painless

carz

the difference between BMWFS and IFS is that IFS keeps the original owners name on the lease........which means if the next guy misses a payment, it directly screws you.

The only way id say to let someone else take over is if you know the person. Other than that its a risk.

17 is too much for them to accept it back unless you put it on consignment with them and see if they can sell it. Or you buy it and sell it

jepva

Judging from your lease payment you rolled in negative equity, or got a very bad deal. The chances of you transferring the lease are slim to none as no one will want your bad deal, and currently Infiniti is leasing the hell out of 2012's for $300/month so there's no way.

You will probably need to keep the car until end of lease, and turn it in. If your lease payment is already 575, even buying a lengthy term is going to be more of a payment then you have now. 17 months isn't really that long.

Vasher

The lease payment doesn't necessarily mean he paid to much for the car or rolled in negative equity. The residuals, money factor, and incentives could have been drastically different at the time he signed.

OP: you can get your current payoff from the IFS site at any time. You can also sell it (no need to purchase it first), or trade it in. Knowing the payoff amount will tell you if you will be in the red after selling/trading in.

shtaka

Yes, I went to the IFS site and found my payoff, which is give or take, just about what equivalent convertibles are retailing for now. Car seems to have held its value pretty well. I did have quite a bit of negative equity going in but I seemed to have made that up. Now I have to consider my options.