weaver

iTrader: (4)

Hey guys,

I have a 2011 G37 vert, auto, sport package, navi package and premium package. Black on Stone. 19K miles. I called and was told I could turn in the vehicle upon inspection and pay $6400. I am owed $5400 on msd's and that would not include that, so I am paying $1000 to turn the vehicle in early.

I have been told by many to just buy the car and sell it outright, since it is immculate condition, but don't know the market on these cars. If I would make a few grand, sure, but if we are talking about a few hundred, don't know if I want to go thru that.

I did a value on KBB and what it is worth is what I owe, so to me, not really sure I could make any money on this.

Any advice, other than putting a for sale ad, which I already did on here and other free sites. Haven't tried autotrader yet, but didn't want to spend $60 on a hunch.

My other option would be to just run the lease out and then turn the vehicle in and get my full msd back.

Am I missing another option?

Thanks,

Matt

glennp_2012

Well no matter how immaculate that car is the new model is coming out so your car will drop in terms or market value. Question for you are getting rid of the car just to get rid of it or are you planning on getting a new one?

weaver

iTrader: (4)

Not getting a new one. I may be moving from Louisiana to California and don't want to ship it all the way out there if I can just turn it in and be done with it or make a few bucks and sell it outright.

I just don't know the market for these cars. Am thinking I won't make anything on it, hence why I was just going to turn it in. It has no issues whatso ever and has low miles.

Thanks,

Matt

glennp_2012

Ending your lease early and paying $1000 is kind a stupid why don't you just wait it out and save your money. Shipping your car from where you are will be far cheaper than ending your lease. If your car is within miles or lower than projected then you won't have a problem turning it in at end of your lease. Turning your car in at end of lease is not that difficult you call them they come inspect the car and they tell where to bring it after.

weaver

iTrader: (4)

I see your point. I guess then can we move to the next point. Am I better off selling or just turning the car in.

Thanks,

Matt

glennp_2012

If you are below mileage turn it in won't cost you that much at this point. Selling the car is pointless let the bank deal with it it will go to auction and someone else will sell it. Nature of the business...

VA_55

iTrader: (23)

I would also suggest to try Carmax.

weaver

iTrader: (4)

I tried that with my other vehicle and they lowballed me, but I don't see how it can hurt. Seems like I am just better off turning in early or letting it go to lease end and then turn it over.

esquesk

iTrader: (2)

So KBB says your car is worth what you owe, so you're gonna give up your $5,400 in MSDs and $1000 on top of that to get rid of your car early?

From what I gather, you're paying $6.4k to get out of the car early. Since it's a 2011, i'm guessing you have anywhere between 6-15 payments left with an average monthly payment of ~500? I don't see why you wouldn't drive it out or try to sell private party...

Unless of course you meant that the KBB value is 5.4k less than you owe....?

weaver

iTrader: (4)

I have 9 more payments at $590 each, that is about $5310. Infiniti owes me $5400. So if I run the lease, I will pretty much break even. If I get out now, it will cost me about $1000, $6400 i owe minus msd of $5400. Just concerned that shipping will be expensive and if it was worth the costs to ship it. Plus I should have another vehicle lined up before then, so I don't want to run insurance on two cars either.

Also, how much do you think I could get private party, best case scanario?

TVPostSound

iTrader: (9)

If you get out of it now, you still owe $6400!!
Not $1000.
$5400 of MSD is your money you left as security deposit.

Add that to the car youre going to get, so youre still paying for 2 cars.
Ride out the lease, drive it to CA, and get a new one in 6 months.

weaver

iTrader: (4)

I am going to keep it and just keep liability on the other vehicle I am buying. Don't want to run full coverage on both. Not interested in a new Infiniti. Going with 03 Honda pilot for now till I see something that I want to lease that is new.

volnedan

It's never a smart move to pay to get out of your lease. If you buyout your lease and sell it private party for what you paid and break even, that's the best route. Paying $6400 to get out of the lease is crazy.

You have multiple options:
1. Buy out your lease and sell on your own
2. Post your vehicle on swapalease.com or leasetrader.com and have someone else assume your lease
3. Take it to Carmax or another dealer to have them buy it out (assuming its worth near what the buyout is)

Good luck. Just don't burn the $6400 when you absolutely don't need to.

ANMVQ

iTrader: (13)

just food for thought, I was looking into doing the same thing as you . My residual(11 X Coupe) is $29,140( Not even worth this NOW) in March of next year an Buy out is $33,450. I can only get 25 tops for a trade in, Places are telling my Infiniti inflates the residuals to lease the cars out at a good price($418). I could also pay to get out early. $6400, 10 Payments at my monthly and Excise taxes.

Needless to say I'm stuck in this till March of next year and will be walking away.

Neiklot

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!