With issues returning leased cars, has anyone been able to negotiate a lower buyout price? I have a month left on my lease, and Nissan has no interest in negotiating the payoff amount.
Most banks will not. There are a few exceptions, but it sounds like you’ve already answered that question in your case with Nissan.
Dodged a bullet there, my friend
9 Likes
My car has very low mileage and I took good care of it, so I’d rather overpay a little bit and keep it than take a chance with a different used car. Due to a change in commute I don’t use the car enough to justify leasing so am looking at a purchase.
However was Nissan wants is overpaying by a ridiculous amount over market value.
My only data point for this question is that US Bank offered a lower buy-out price than the residual on my dad’s Volt – without us asking. There was no room for negotiation; it was a take it or leave it offer.
Apparently some captives (don’t recall the brand; was it BMW?) have offered buy-out prices lower than the residual, but it’s very rare.
1 Like
Interested in the same as the OP.
I might be in his same spot in a few months.
If any lessor/bank/captive wants to offer you a lower buyout, it will be in your online account. And it will be take-it-or-leave-it.
The last thing they want to do is tie up their staff on the phone haggling with customers
2 Likes
Thanks , I’ll check online every couple of days but so far it’s still 19.5K for a 2017 Pathfinder S.
If Nissan won’t do it, I can’t see anyone doing it.
1 Like
It’s actually really complicated to do it right. On an individual level why would they not want to split the difference between the RV and the actual market value as well as avoid the expense of auctioning, reconditioning etc…
The issue is that the people most likely to take the reduced buy out price are the ones who were most likely to buy at the full buy out price. These are mainly people who are way over miles or who have damaged the car and can’t/didn’t get it fixed.
One way to do this is for finance arm to pay to have the car looked over at a dealer and only give the discount if the car is at/under miles and in decent shape. But that of course is not really possible now. So figuring out how to do this involves a complex statistical analysis to determine the revenue foregone from the lower buyout price versus the savings in not losing money on as many returned leases.
Run away from it! Nissan is in a world of hurt right now and I don’t see anything good on the horizon, drop that boat anchor off end of term.
2 Likes
Usually this wasn’t a case, but recently fellow I3 owner received offer directly from BMW FS, to buy his i3 for less then original buy out price, so things might start changing due to situation.
I wonder if the captives keep track of your miles as you bring the car in for service? I doubt they’re offering any of these discounts to people who are way over mileage.
1 Like
That’s what ill wind up doing, having trouble figuring out next steps though. I’ve always leased 2 cars at a time but with my nee commute it doesn’t make sense to lease both because the second car will only get 3 or 4 thousand miles a year.
Bmw offered a discounted purchase price on my online account. Like others have said, I doubt they’ll negotiate (especially since they already told you they won’t), but maybe something will pop up.
BMW shows a discounted buyout price on my portal as well… To the tune of $3,432… It’s pretty enticing too because I am about $5000 over my mileage.
I’d do it in a heart beat but I’ve also had two small accidents in the car so that brings down the value as well. If no accident’s.
5,000 miles over or $5,000?
25000 miles = $5,750
So then the car is worth a lot less than the discounted buyout?
Oh yeah. I’d estimate the car is worth like 32k. I can’t find any fully loaded 2017 340’s on cars.com. But if you think about laying down $5-6k on a car thats going back it’s like adding a lot of money to that monthly. Granted I used the car way over what it was designated for so I’m not crying about it, just gotta work out the numbers.