i’ve been paying 303.99/month currently for my lease. @mllcb42
and honestly, i’m enjoying the maxima, however, the leasing process has been pretty horrid as I had planned to buy it out thinking that the money I’ve invested into it would go towards the payment. Boy was I wrong. @dloco
If you go through with buying this, you will have essentially paid a little more than the full MSRP of the car over a 7 year duration (Assuming you take the 48 month option). I assume that essentially 0% financing for 84 months doesn’t sound like the worst thing in the world, but at the end of the day you are going to be left with an “asset” that will be worth much, much less than what you put into it. What do you think the Maxima will be worth 4 years from now? What about next year even, after the used market (presumably) goes back to normal? And do you plan to drive this until the wheels fall off? Given Nissan’s predicaments in the US I’m not sure I’d want to take those risks. Selling it now on the other hand could get you some of the cash you put down back, making this lease a little better than it was at inception.
Not with $6k up front you haven’t. You front loaded your costs, but your total monthly cost is about $500 once you amortize it out. People very often get hyper-focused on the monthly payment and fail to see the forest through the trees.
Honestly, budget doesn’t seem like the issue here for you. I think its more a combination of you not understanding how to get a strong lease and you are aiming too low 
which is polar opposite to the issues people have here hah.
Again, reach out to one of the many tri-state brokers and they will set you up.
On your 2017, just post it on a 3rd party site (algo, carvana, vroom) and sell it since you have a lot of miles equity that may translate to additional positive equity vs. your payoff amount. This will help recoup some of the downpayment you had on this car.
You effectively paid about 462 a month when you factor in the cash you put down up front.
@amfboots - I would strongly suggest reading this: READ ME FIRST: Getting Started With Leasehackr Forum.
As I stated in one my earlier post, check out EDITORIAL | LEASEHACKR.
There are brokers you can work with. They post their deals in the “Marketplace”. Fyi, most charge a fee for their services.
Another point to consider, by effectively financing this car at full price (plus fees, etc), the value of thousands of dollars worth of manufacturer rebates that you had on the lease will have gone up in smoke as well.
Sell the car, use the 4k or so ‘profit’ and roll it into a Bolt for 3 years.
@Bluemkn57cars
So truthfully, I just ran into this website a little over an hour ago. I was unfamiliar with options and things that I can do to make things work in my favor. My main goal was to buy a car that I can use for the next ten years at least. It’s looking more and more to be like I’ve made a poor decision which I have no choice but to learn from.
I appreciate all the insights and answers once again.
If you are serious about buying a car that will last you for the next decade I would sell the Maxima and take the equity you have to your local Honda/Toyota/Maybe Lexus dealer depending on your budget and use it as a down payment for a purchase, not a lease. Done and done.
I really like that idea. The only issue with the car is that it has been in 2 accidents, mostly cosmetic. I’m afraid that it will lessen the value of the car to the point where the difference where I would sell it wouldn’t be any equity at all. lol.
Well you initially said “minor wear”… Are the accidents reported on the carfax, and have they been properly repaired? That’s a variable that could change things a lot, depending on the charges from Nissan if they are not repaired, as well as the value of the car from your perspective, etc.
Lol ‘there is minor wear and tear’ I hope doesn’t turn into ‘There is Accidents(Plural) reported on Carfax’
If so then your Carvana quote just went down 5k.
5k, or more, depending how ‘minor’ these accidents were.
The accidents we’re all reported and fixed through insurance companies. I imagine that these things get reported automatically? I’m not too sure about that process.
If you went through insurance, 99.9% chance it was reported and in car fax, reducing your car’s used car resale value.
This is why I personally don’t recommend big ccr, or commuting leasing to buy at inception.
covenants, conditions & restrictions?
Capital cost reduction, aka down payment, not ‘down”, or ‘down at signing/das’.
@amfboots just a suggestion - get those selling price estimates to help you with your decision. Don’t be surprised if you get dinged for the accidents and you don’t get the lift you were expecting for being under-mileage (it’s never as much as folks think it should be). That will really help you decide your next steps. Good luck and let us know how it goes
