Thanks; so it appears the sale rep I spoke to didn’t know this
I’m getting around $5-6k over payoff currently from Carmax and Carvana. Contacted multiple dealers and have gotten offered about $4k in positive equity rolled into a new 2021 Qx50 Luxe lease. $498 /mo tax incl, 12k, 39 mo, $0 drive offs. Would have sold off the lease to Carmax/Carvana and moved on from Infiniti if they hadn’t changed their 3rd party buyout policies. This is in SoCal.
You should just sell the car to the highest NMAC-affiliate (Nissan & Infiniti dealers, autonation, Rodo etc) and take the equity as a check.
Don’t roll it into a new lease and don’t fall into this trap of staying “loyal” to a corporation just because of these shenanigans.
I’d do that if the dealers weren’t lowballing. Only 2 of the 4 dealers I talked to even wanted to do the above deal. Equity hackr quoted me $7k less than Carmax/Carvana which would also be below my payoff price.
We can sell Infinitis directly to Autonation and Rodo without buying it out first?
I was under the impression I could only sell my leased Infiniti to Nissan and Infiniti directly and would have to buy and pay tax if selling to anyone else.
From what I understand, places like Autonation have Nissan and Infiniti dealerships so they can ground the lease with NMAC to allow them to buy it out without you having to go through that hassle and tax burden.
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But you would have to go to the Nissan or Infiniti dealer in the Autonation dealership network or could I go to like Honda or Mini Autonation dealer?
The reason I’m asking is because there is a Autonation Honda dealer with a good offer but the local Nissan and Infiniti offers were very low often below my buyout.
FWIW, anyone who sold their QX60 in january (at the latest), managed to grab something for it. Used values on these sank like a rock over the past month (MMR decreased about $5k). No wholesaler on the east coast is buying them due to how many go no-sale at auction. I highly doubt dealers would be buying them at anything over payoff, either. I did a few so far this month, and the goal was to get the customer out of dispo + damages.
Yes.
My friend got an offer from Autonation Honda and they confirmed they could ground the lease and they would get the difference in equity.
But they ended up going with a Nissan dealer because they offered more.
Just an fyi, Grounding a Lease and Buying/Selling a Lease are two different things.
Grounding - Giving it back and Walking away. Any payments or termination fees are still owed. Dealer may buy it from the OEM but not a sure thing.
Buying/Selling - Asking the dealer to buy for sure and possibly give you some equity.
There have been a few threads here where people ‘sold’ their car to BMW thinking they could walk away with $0 owed, but the dealer turned around and ‘grounded’ it and the Lessee was on the hook for mileage / damage / remaining payments.
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Thanks @forbs
I’m probably using the wrong terminology as that’s what my friend told me they said and they would be getting some equity back in the form of a check which was the difference between the payoff and the offer.
One thing I notice here is that quite a few people seemed to have got a good lease on a 2019 QX60.
Was there some special running 3 years ago ala the Frontier now?
Umm yes, it was the Infiniti QX60 and BMW Fart Car Hackr board during that period
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Checking earlier this week with Autonation in SoFla would be $1300 positive equity on my Plane Jane QX60 Pure 39/15 (with 49K miles) due end of March if I bring it to them in the next week.
Carvana offered 29.3K (was 30.6 a month ago), but of course cannot sell it to them. Vroom was $27.4. KBB (datapoint) in very good condition is ~29.2K tradein.
Thanks for the tip! Was able to sell it to a non-Nissan or Infiniti dealer directly.
Yes, values dropped by 3K in 4 weeks. But we still walked away with $1200 in equity when all was said and done.
This will be a helpful data point. No local Infiniti and Nissan dealer wanted to play the ball. I got an online quote from AutoNation at 31.5k and sold it to them. Walked away with 3.4K equity check + they returned all my MSDs at the same time. This is for Pure at 27k miles with the original tires and brakes. I got away with tires as I was swapping winter tires each season.
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Yeap…my 2018 qx60 was a total payment of $366 including socal taxes. Those were the days
2014-2019 was the time of Infiniti in general. I had a ‘14 Q60S, a ‘15 Q50S and a 2019 Q50S RedSport. Infinitis could be bad at stupid numbers back then. Unfortunately, those days are long gone…
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