Was helping a friend with their end of lease buyout and local florida dealers were charging $1500+ of fees to do it.
They were dragging their feet, and at the last minute called infiniti financial - who said they are now allowing direct owner purchase in Florida. (Previously, NY and FL had to go to a local dealer to complete the transaction - this feels like it must have changed around May 2022)
Don’t let these dealers sell you the same car twice. Infiniti also took note of the names of the local dealers who tried to play this game.
If NMAC was truly transparent they would send a note to a leasees and also add the drop down menu on the website. But this is a good start and welcome news. Well for everyone not part of the sales office of a Nissan/Infiniti dealer trying to double dip on outrageous Florida dealer fees.
I called Infiniti end of last week. They weren’t transparent on buying out without fees.
I pushed the rep and he noted that he can submit for supervisor approval an exception to buy direct from IFS with only the $300 buyout fee and sales tax. The exception required some proof that a local Nissan/Infiniti dealer was charging excess fees. Then Infiniti would send out paperwork to complete the transaction.
I had no intention to buyout the base of the base QX60 Pure with almost 54K miles, so last Saturday afternoon on a rainy SoFla day, I decided to shop it around first at Autonation, then an Infiniti dealer then to a Nissan dealer. I got an AN quote for $26K, the KBB quote for $26K, Carmax online was $27K (but, of course, they could not buy a Nissan/Infiniti Lease).
The buyout was $25.8K and with the $395 disposition and ~$300 for mileage penalties (I extended 3-months so 52.5K was allowed), the breakeven was ~$25,100.
AN, they looked at it and dinged me $500 for bumper scratches. So $25.5K
Infiniti - Complete waste of time and showroom was deader than a funeral home. For kicks asked for buyout quote and they came back with $2,995 adder for CPO, $995 dealer fee, $379 elec filing fee, $550 registration fee + the $300 buyout and sales tax. So for the low price of $33K including $5K in dealer adders, I would have the pleasure of buying out my own car with a $25.8K residual. I asked for a best price for them to buy out the car, never got a number as they assumed I might just turn them over the car by end of the week.
Onto the first Nissan dealer and to my surpise after only 20mins, I got a quote of $26K as a buyout, I asked for clarification since I had MSDs. Then they came back with $26.5K. I told them $27K and the car was theres. Deal… So netted $1,900 above turn in value with minimal hassle. Picked up the check Monday afternoon at the dealership and account already closed online.
Sigh, I wish I had found this after doing months of research on how to navigate trying to prevent the dealerships from scamming me. Bought out my lease, went to the original dealership prepared to fight on the illegal fees. Based on all my research, I couldn’t find anything about NMAC being able to do lease buyouts, so I didn’t even bother to call (thinking it was just a wasted call). Well, the staff at the original dealership were extremely rude - to the point where I have official complaints in with corporate. Got a phone call from them saying that NMAC is now doing buyouts. I wish that they had communicated that to me, along with all lessees that are in Dealer states. Would have saved everyone a lot of headache. Managed to find another dealership that didnt charge the fees so all is good now.
