Hoping to get some perspective on my current situation.
I am currently leasing a 2018 Q50 with 29 months remaining with 23k miles allowance of the 32.5k.
Great car, no issues but I’m planning on leaving the states and doing some traveling with no definitive plan on when I’ll return, could be two months or two years.
Upon my return, I will most likely need another vehicle but it seems silly to continue making payments, insurance, registration) on a car I won’t be driving. If I knew I was only going to be gone for a couple months, I would just hold onto it, but as I am uncertain of what the future holds, I would think it would be financially wise to transfer it?
What would you guys do in my situation, knowing that I am still on the hook if I transfer the vehicle to a stranger (I’ve already checked Vroom and it’s not worth it)?
Put your lease details up on the original post by doing an edit to get better advise and potential lease takeovers. You may need to pony up an incentive depending on current market rates for your car. Also moving to marketplace as this will end up there anyway.
I would find a family member or friend that I trust and transfer it to them.
I’m interested in this as well, and in the almost the same situation!
I’m very curious what you guys think, if you wouldn’t mind. I’ll post lease info…
2016 Q50 Red Sport. This car has 31,840 miles, and a total lease amount of 48,823, with 10 payments left.
Payment is $443.
I’m leaving the country in a couple months and interested in transferring, but also weary of being on the hook. The question I guess comes down to is it worth paying off the $4859 and returning early for peace of mind…
Have you thought about using some sort of service like Escrow.com to hold/release payments? There would still be risk:
- Damage to the vehicle
- Lease return process
I’m not sure how those would be handled, but someone who could put the lease payment in Escrow to be released would be an ideal candidate for an Infiniti lease transfer where you still have liability.
As a footnote, I’m about 6 months from my lease end. I would love something like your Red Sport if I were a bit closer, just to try the waters. Good luck finding a transfer!
You’re really the only one that can answer the risk question on your own situation. Personally, I would only consider transferring to a reliable family member. The risk is huge transferring to an unknown. If he/she loses their job tomorrow, you could be on the hook when they stop making payments. I don’t think GAP will cover a person dropping insurance altogether and/or not carrying sufficient enough insurance, so that’s a risk as well.
Granted, I’m not traveling out of the states, so the risk would be enough for me to not transfer to someone. Your situation is different, and only you can make the call if it’s worth it to you vs the potential snafus that can happen.
can you check Vroom or Carvana for a quote compared to payoff? might be less negative equity than 10x payments
Thank you. Appreciate the input!