Extra fees with lease purchase

[darthvuder]

Just wanted to share my first lease purchase experience which was terrible. Infiniti. Usually I just drop off the keys

Carvana offered way more than my payoff, 7k+

Hence I had to go to dealership, after taxes, a payoff fee to lender and a required dealer fee of 900 to do the paper work, which they also charged taxes on, final cost cut the carvana “profit” in half. Still not horrible but that dealer fee seems like a ripoff considering you are required to go to dealer to pay it off. This does not include registration as that was paid off. It’s a few bucks to transfer.

So that 300 dollar payoff fee they tell you about when you lease the car is bs. It’s 1200+ in my case

Plus I must have spent an hour+ waiting around
Is this the same with all car companies ?

[mllcb42]

Nissan/Infiniti?

[darthvuder]

Yes. Infiniti

[mllcb42]

Oh, I missed it in your first line. Doh. They’re the only one in CA that seems to insist on going through a dealer for a buy out.

Check out this thread and see if it’s not too late to save on the taxes

Third Party Lease Buyout

I recently went through a third-party lease buyout in California. I often see the question on how this is done so I wrote a quick document of my experience: I think the main one I hear is how to avoid paying sales tax twice when selling to a private party. This can be avoided (in CA) by (a) selling you lease within 10 days of acquiring the title from the lessor (b) applying and being approved for a CDTFA-111 from the CDTFA. Note, if you sell to a dealer, the leasing company transfer the ti…

[kaz5]

I thought that dealer doc fee is limited to $85 in CA. Or is the $900 dealer fee something else?

[darthvuder]

I also got a doc fee!
The 900 is a fee that the dealer charges to “do the transfer paperwork”.

I was dubious and called Infiniti and they said these dealer fees are legit and I have to pay them if I wanted to buy the car because Infiniti requires the process to go through a dealer And in fact the dealer can charge what they want. Infiniti finance said I could always call another dealer and see if their fees are less.

So maybe the lesson is before you decide to buy just call all dealers and ask them the fee. I just went with the closest one and didn’t want to waste any more time so didn’t bother going elsewhere

[mllcb42]

@darthvuder

I could always call another dealer and see if their fees are less.

This is always a good plan

[TypeSH]

Thankfully VW allows me to buy directly from VW Credit.

Good to know about IFS/NMAC. Not that I would buy out the LEAF, but duly noted now.