Hello,
My lease on my Infiniti QX60 ends in December of this year. I called to see what the buyout would be and the person from nissan financial said that starting May 10, 2021 that they don’t accept 3rd payment on lease vehicles. So they won’t accept a check from vroom, carvana, other manufactures, etc.
Is there a way around this? I was hoping to see if I could sell it and make something off of the lease.
Thank you
Correct. You can buy it yourself, or an Infiniti dealer can buy it. Those are your choices.
3 options:
There is only one workaround remaining - You can also sell to a sister dealership of Infiniti. For example, say there is an Elite Autos (fictional), which operates Cadillac, Chevy, GMC and Infiniti locations. You can sell to either of those because they can run it through their Infiniti dealership.
Thank you everyone for your replies.
I’m going to check and see how much I can get for it now. I guess I can pay for it and then sell it to the other resellers.
If there is a small dent, is it better to fix it or sell it with the dent?
Thank you again
Absolutely. Just double check your tax liability before you do.
Oh yeah, Thanks for the heads up.
If you’re selling to a Carvana/SHIFT/vroom type entity, my experience is no*. They will ding you (no pun intended) for less than cost to repair. A dealership? They could use it as an excuse to ding you harder even though it costs them less than your cost.
*I had a dent on the rocker panel I was for sure they would hit me for $500-$1000 on the value. And the wheel was heavily gouged. Figured I would be hammered for cost of a new wheel, another few hundred. They came, checked the vehicle, said the dent was no problem and only dinged me $65 for the wheel… by the time they listed the car a few days later, they completed fixed the dent and replaced the wheel.
Thank you so much for the help. It’s not a huge dent. It looks like a shopping cart hit the piece behind the back passenger side tire.
I’m owed $1300 from the dealership for the MSD, I think they are called that I put down at the start of the lease. Will I get that back if I payoff the vehicle?
Thank you again.
Msds aren’t owed by the dealer
Doesn’t a payoff usually include the MSD’s into the final price?
i just looked at the agreement and it said that there is a $1300 refundable security deposit. That means that it should be returned, correct? Thanks again
Two separate issues here:
Your best bet is to sell the car to an Infiniti dealer.
They will get the payoff themselves and let you know what they can offer for it.
I recently got multiple of my customers sell their lease directly to Infiniti dealers, most either walked away from a lease early even if they were over allocated miles or got a check back for equity in the lease they were returning anyways and saved on paying excess wear and tear plus disposition fees.
You don’t even have to buy/lease another Infiniti to do this transaction but if you do depending on your model, you get 2k for q50/QX60/qx70 return and 1k for any other Infiniti. The next Infiniti can even be leased from another dealer and you still get the rebate.
When the car is purchased by the dealer you get a statement saying the car was purchased for X price and the payoff was X. Any additional money is given to the customer.
If MSD is involved when car was originally leased, that money comes back directly from the IFS once your account is paid off and closed.
If you purchase the car with intention to resell it, you will owe State tax on payoff value, doc fees for dealer to process your docs and dmv fees to get plates in your name as the current Registration is in Infiniti’s name depending on your state. All this process can take up to 4-6 weeks and you take the risk of market variance when you are ready to finally sell.
HN
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