What are my options with my lease...buying or selling
#16
I'm in a similar situation. My lease is up in 4 months but I'm over about 4k miles. New job required I commute. The pay and benefits was worth the overage in miles. With Infiniti requiring $0.25/mile over I'd be paying at least $1500 in mile overage fees given that I may even push it to 6k miles over. I had 12k miles per year and on my last year I've been really putting them on.
Given that I have MSDs for $3600 and I don't plan to lease again with Infiniti I figured the $1500 would be taken out of my $3600 giving me a window of $2100. With the turn in fee of $400 that drops down to ~$1700 so I'm left with $1700 back on a vehicle that I'm walking away from.
If I decided to purchase my vehicle and sell it privately KBB indicates around $26k. The buyout for my vehicle with the MSD thrown into is around $22k. Given that I could potentially buy it out and just privately sell it for a profit of $4k do you guys think this is probably the more ideal scenario than to turn it in, pay the fees and walk away?
Food for Thought: If I do end up adding even more than 6k miles at the end of my turn in that value of $1700 will diminish even further!
Given that I have MSDs for $3600 and I don't plan to lease again with Infiniti I figured the $1500 would be taken out of my $3600 giving me a window of $2100. With the turn in fee of $400 that drops down to ~$1700 so I'm left with $1700 back on a vehicle that I'm walking away from.
If I decided to purchase my vehicle and sell it privately KBB indicates around $26k. The buyout for my vehicle with the MSD thrown into is around $22k. Given that I could potentially buy it out and just privately sell it for a profit of $4k do you guys think this is probably the more ideal scenario than to turn it in, pay the fees and walk away?
Food for Thought: If I do end up adding even more than 6k miles at the end of my turn in that value of $1700 will diminish even further!
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