Here is where I’m at on this Palisade, let me know if you think I should jump on this. I honestly don’t love these vehicles, and would prefer something like a Buick Enclave, Grand Highlander, or QX60 Luxe but haven’t had much luck hacking those from my desk (and don’t have time to waste going in person) and guess this is “good enough” for the family hauler.
MSRP: $42,710
Discount: $6,250
Selling price: $36,460
Total with fees, add-ons and taxes: $39,583.77
At first glance this seems to be a solid deal and will be cheaper than a grand highlander or QX60 regardless. MF is at buy rate. Not quite enough info though, is the $1750 in lease cash in there? How much are the add ons?
Maybe check the resid and buy rate money factor… seems like it should be 0.00248 and 68%. But the LH calculator may be wrong. Oh maybe yours is FWD and not AWD…
Should I just do the 10K miles (68% residual) and pay the mileage overage at lease end? Most likely will go over 30k in 3 years. Does it end up being more expensive baking it into the lease or paying for it later?
Paying for it later is way more expensive. the 1% change in residual is $500 + rent charge on that of 0.00252, or you can pay $1500 later (.25 / mile * 6000 miles).
What’s the math on buying the grand Highlander and owning for 6+ years? Use the equity, which would be a big chunk of cash, on your next car chosen at your next opportune time
OTOH: The logical conclusion of a lease is to return it and lease again. So you’re looking at $475 x 72 =$34,200.00 spent over two leases or $475 x 36 x 3 =$51,300.00 over three. 99% sure you’ll have no equity. For a car (and presumably series of cars) you don’t really want. The amount of money left on the table vs buying the GH and owning it into the equity-accumulation years is not insignificant.
Hacking is great when (A) its a car you want and (B) the lease is so cheap that even repeating leases is cheaper than accumulating equity through ownership. Otherwise it’s very debatable what the cost/benefit is.
I’d add my .02 that coming from Palisade Calligraphy into a QX60 Luxe, I would much rather go back to the Palisade, given Infiniti’s overall quality has gone downhill over the past 5-7 years or so.
With my current lease ending this month, I am debating between a Palisade and QX60 Luxe myself. With the Palisade, we would likely have to consider a purchase (given the high MF). OTOH, the QX60’s lease terms are appealing (because we also qualify for Nissan Loyalty bonus). What aspects of the Palisade do you miss the most?
Oooh the ol’ philosophical debate about leasing vs buying.
J/K
But seriously, after alternating between buying and leasing over the past 20 years I’ve come to realize that for my family, leasing makes more sense since we end up changing cars every 2-3 years without fail. There is no doubt owning for 5,6,7+ or better yet 10+ years is “better” financially but it’s not for me. I admire people that can drive their car for 10 years but to each his/her own. The way I see, even if I bought something and kept it for 6+ years, sold for some equity, bought the next shiny thing, I’d still be making payments. So if I can stay in a nice new vehicle for under $500’ish per month (with very little down) perpetually I’m happy. Sometimes it’s going to be nicer like the Buick Enclave that we had, sometimes not as nice. But 2-3 years goes quick.
