I have 2019 Infiniti QX60, leased 39/15k and am already at ~45k miles with 6 payments left ($499 each). Will be charged $0.25/mile over 49k. At current rate, will hit allowed mileage in about 2.5-3 months. Does it make any sense to sell to Vroom / Carvana soon if offer is close to payoff amount? (I wouldn’t mind getting into 2022 Volvo XC90 now). Also, I did $1650 in MSDs so how do I need to think about that? Thank you!
If I’m not mistaken Infinity/Nissan stopped 3rd party buyouts sometime ago. You can’t sell to Carvana unless buying out to yourself first.
I also will be overmiles by the end of my lease but it is still cheaper than getting second car or even rent one for road trips.
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Unfortunately your only option is to sell to a Infiniti dealer, or buy out the car yourself and then sell it to Carvana/carmax/vroom. As others have mentioned Infiniti does not allow 3rd party buyouts anymore longer.
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Fixed that for you.
Good to know! Thank you all. So best to drive it to 2 or 3 local dealerships and see what they’ll offer?
Phone call or email might be a better idea. Also get online quotes. You can’t sell it but it will give you a good idea of what your car is worth.
low mileage qx60 are underwater, so you can imagine high mileage qx60 are way underwater. i wouldn’t expect any dealer to offer anywhere near payoff on this car
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When I look at local dealership listings for similar cars they are around $40k (not sure how far under the list price they actually trade) and my dealer assisted payoff amount is about $29k – but that doesn’t take into account getting the car to “certified” status and the profit a dealer needs to make, plus any other expenses I’m not considering. I was also hopeful that the current chip shortage may work in my favor.
Aronchi is right, QX60 is underwater, you are not going to get out of that lease because it has no equity. I am in a QX60 lease only I am way under mileage and I am still underwater by quite a bit. Last I checked about 2 months left on lease and 15k miles remaining and would need to front 3k to get out of lease.
You can ask for what is called early term. Call Infiniti finance and ask them about it – They will give you an amount.
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Still on the hook for miles w an early term.
You have a lot of experience with Infiniti’s, why were these trucks so cheap to lease and now impossible to sell back to the dealers? Literally the only used car on the market with no equity.
Mines on a month to month until November and the dealer payoff is around $29k and according to my letter, that includes me not getting back the MSD. I mean come the end of this year there will be a boatload of these being handed back in to IFS, how much lower can they go? It wasn’t the greatest truck if you were paying MSRP but at the rates we all got it, it definitely had value.
Because they were 10 years old when you were leasing them and now they’re 13 years old and dealers don’t want them.
Agree, I remember the JX model from when a family member got it, can’t believe it still looks the same. Hell when the used car market dumps and the glut of these is sitting, I’d buy one if the price is right.
Infiniti financial services are difficult to deal with. I was over mileage on a QX60 and even in the current market them were so aggressive on the original residual that there was no equity in a buy-out. BMW used to have a program to pay for additional mileage before the end of the lease. When I spoke to Inifiniti about it they thought I was crazy. My experience is that Infiniti are good at rolling it into a new deal - unfortunately having moved from a QX60 to XC90 there is no comparison
Not the only.
My leased BMW is worth ~$12,000 less than the payoff.
With 9 payments left, I’d be better off putting it in storage until disposition vs. selling/trading it early.
Actually better to early termination if you dont intent to drive and save on insurance
Say you end up ~3,000 miles over at 52K total that’s only $750 in mileage overage
Utilize a 2nd vehicle for occassional longer trips. Bundle trips better over the next few months if not a 2nd vehicle to use/borrow.
Could rent if you have a long mileage roundtrip getaway drive over a weekend that puts ~1000 miles on a rental over a few days. With rental rates, likely not a better option but rental car weekend rates are traditionally dirt cheap
Rental car rates are through the roof right now. Probably cheaper just to drive it and pay the mileage overage.
That’s what I figured at $0.25 per mile for Infinity.
Nissan dealer offered me $27,400 on my 2018 Infiniti QX60 with 32,500 miles on it, my payoff was 29,500