Thanks for this update. I was just able to get mine extended to 1/2022 as well.
I was also told that the original inspection that I did about 20 days ago will count and I will not need to get a new inspection. I would recommend: inspection first and then call in to extend.
Oh wow - interesting! Wish I would have known that one!
Although - I think we are just going to end up buying this out. I donāt think thereās anything else we on the market that we like or is in stock.
Are you tracking your residual with the lease extension? My buyout price on IFS is no longer going down below the residual value.
My buyout price on IFS is no longer going down below the residual value. I was told by the dealer that if I extend the lease, the buyout value will go down with each payment. Not sure what is going on with Infiniti. Anyone dealing with the same issue ?
Yup
I just went through this process and it was a hassle. I extended the lease back in Sept and the residual in the IFS system no longer matched. I ended up having to call IFS a few times, and had a 3 way call with IFS and the dealership, then requested a letter with the correct residual which I took to the dealership for the lease end buyout.
Hi,
I just extended the lease directly through IFS on my 2019 QX60 which was originally set to mature on 12/15. They gave me a 6 month extension without any hassle whatsoever. The whole process took me 15 minutes and that was over chat on the IFS website, not even a phone call. The only thing that changed was my payment as they needed to add tax for the next 6 months since I paid taxes upfront (NJ).
When I spoke with my dealer, even he told me that the extension process was simple and they were extending them without issue due to the shortages and such. Hope this helps!
IFS stopped lowering the residual for extended leases in October. Itās likely these next 6 months of payments will not lower your RV at the end of the extension.
Iām ok with that. I have no interest in buying the vehicle at the end of the lease. Just needed to keep this car around as I lost my other in Ida and donāt feel like overpaying for a crapbox in the current market conditions.
Are you sure you do not have any equity in your lease? By returning the car you will just give free money to IFS.
Please give me a shout when you decide to return the qx60.
Itās not likely lol. Itās a fact.
Hear me out - you might still want to buy out the car. Suppose your buyout is $28K - sales tax would be $1855 in NJ (based on your post history).
If your payment is $400 x 6 months - thatās $2400 in payments. You may be better off buying, using and selling when you find your replacement.
Iām using the same strategy while I wait for a Model Y or a Sienna to become available.
Plus all the extra fees that Infiniti tacks onā¦ and that assumes that 6 months from now, their value hasnāt started to find their way back to reality.
Wife just got an AWD Sienna after months of searching for MSRP. She loves it.
Iām Number 24 and 38 for an MSRP purchase at dealerships near me. Letās see!
City fuel economy as advertised or better. Highway not as good.
We are on our 5th day of vacation and have averaged 33.6 mpg since we left.
Maybe not in NY, but 2019 QX60 do have equity in SoCal. I sold one and got over $7k in equity less than a month ago.
So, hereās the thing. Literally up until a week ago, I had maybe 300-400$ in equity on the car. I just checked Vroom and they are offering $37,500 for the car. The dealer assisted payoff quote is for 33,618 and the customer direct is for 35,845.
If I buy the car out for 33,618, thereās no guarantee that 6 months from now, Iāll get anywhere near 33K for the car. Having only 1 car in the house right now and a crappy market, Iām weary of buying this out and being stuck with it or being upside on the loan.
Intrigued to hear how others would approach this. Thanks in advance!
My lease is up in early spring for my q50. I wonder if they would let me extend until the 400z comes out. Plan to buy one as soon as release, and since its Nissan I would hope they honor that.