2018 Infiniti Q50 AWD Red Sport with Pro active, and sensory package. Leased it in September. I am wondering if I can trade this in for something a little bigger and less money per month. Right now it’s got 10,360 miles on it. It’s a 39k/39mo lease. I put 1000 down. Also I’m in MD so I paid the tax already it’s not on payment. I could find out what I owe and then see what it’s worth I guess also. I know these depreciate quick but they’re also kind of rare in my area with the proactive package so I don’t really understand why. I’m only trying to do this to decrease payment by $100 and not put a huge amount down so rebates would help if I am flipped… Anyway any help would be appreciated. Thanks!
You can find out the current buyout and see what quotes you get from Carvana and similar companies but highly unlikely you have positive equity.
Otherwise, you can try to transfer the lease to someone else but realize Nissan will not completely remove you from the lease and you would be responsible for the vehicle/payments if the new person doesn’t fulfill his responsibilities.
You will be upside down by quite a bit
Kinda thought so… Which companies have the rebates out there I should look for to bring the negative down?
Those rebates are what make the leases decent leases. If negative equity eats into rebates you will not have a decent lease anymore. Sounds like you got a bad deal. However, you need to know what negatove equity you jave first.
@NY13 Carvana shows 35k trade in avg. Loan buyout is 50k… It’s only been 6 months and it’s a “luxury car” that depreciates. I got 10k off of sticker but I agree I could have waited and got a better deal. I would probably be happier in a “bad or overpriced” lease if it was something around 300-400/mo. Knowing in 3 yrs I’ll be out of it.
Would love to hear any opinions on what they would do though. I don’t need to make it happen right now, but i def. Made a mistake. It’s a great car but just too much monthly for me to be ok with.
If you really are $15k upside down, there is nothing you can do as for trading it in. Your only choice, other than sucking it up, is transfering and remaining responsible in case of default.
But really think about this. You have 33 mos left. Saving $100/mo is only $3300 total. You’d have to offer and incentive and pay taxes again on another lease. I don’t see this panning out well.
You’re right. I’ll just suck it up and wait… November is when it ends so maybe a good black Friday lease will be out and I can make up for it. Can’t believe how fast these things depreciate though knowing how high their ratings are and how few of them are out there… Mine was the only one in 5 states that had a certain package that came with adaptive cruise and a bunch of other things.
Get a side job as uber to pay for it or rent it out on truro for 50 a day
That negative equity would be 450 extra a month to whatever lease you get. Not sure what your payment is but not sure if any bank would finance that much negative equity.
Black Friday deals aren’t what they used to be. Clean Your Refrigerator Day on November 15th though is the one you should target.
Not a good situation to be in. Q50 tends to depreciate quicker than other luxury cars in its segment. 400hp is nice compared to the competition, but the German competitors definitely put the power down much better.
Best of luck OP. You’re better off riding this one out. You’ve got a long way to go before it would remotely make sense to trade it out.
What German competitors offer that kind of power at the price tag of a Red Sport? Not trying to argue (LOL), I just can’t think of any atm!
OP - sorry to say, but you are locked in. There is no way for you to get out of this with your head above water, especially being this early in the game.
S4/5, 340xi, C43 AMG all sprint to 60 quicker. Now, keep in mind… “quicker” is literally tenths if a second difference. So most people wouldn’t care. Technically, all the German competitions are faster, better handling, improved steering output, better over all road manners. The ZF transmissions used in some of the Germans is far better than that clunky 7-speed that Infiniti forces upon their cars as well.
Q50 falls dead middle of the pack in the segment. The German competitors are also far more expensive than the RS. I’d prefer a Stinger GT2 over it, though. Love that hatch.
Ahh, I knew my brain wasn’t working this morning.ha. I’ve always wanted to test out a C43 AMG. I had looked into getting one of those cars a couple of times (but we all know how AMG’s lease :/). I would agree that BMW typically has great handling. Audi was ok, from my experience, but I’d put BMW above.
Yes, the German “competitors” are almost always more expensive…which is why I struggle to call them competitors. For example, a base S4/C43AMG costs about the same as a “loaded” Red Sport. GT2’s are pretty nice . I’ve yet to drive one - I love the yellow.
Had a yellow GT, actually. Great color. Sold it back to Kia due to a paint defect. Immensely good luck now that I look back and see the turns my life has taken since.
Stinger GT RWD is an absolute blast to drive, but the AWD version is a little sedate comparatively. I had the AWD, but still great to drive.
I always thought a rare car is worse than an popular car when it comes to depreciation. Not a huge market out there buying that car so why would it be worth more?