https://www.kbb.com/car-news/nissan-infiniti-warn-dealers-against-shady-lease-practices/
Good to see that somebody with clout is calling them out. Seems to be a rash of lease owners on here that are dealing with dealerships that are trying to charge them anywhere from $200-$1500 to facilitate Nissan/Infiniti buy outs of expiring leases.
My wifes QX60 is up in Sept and we will likely buy it out. Cant wait to see what happens when we stop into our local infiniti dealership…
Why on earth would you do that?
My thought was this, we have a 2019 QX60 Luxe in perfect condition, 39/10 lease and we will barely have 30k miles on it a lease end in sept 2022. Need to spend money on tires, as they are almost shot at 26,000 miles ( and yes i rotate them ). With the low mileage and the vehicle still within the warranty period, plus the lack of deals right now, and likely the rest of this year, we are considering a buy out. We will likely get rid of it within 2 years / end of power train warranty ( mainly for the cvt problems ) as deals come back…
Pre-covid, the plan was to just replace it with another good lease deal from here on the forum at or near lease end. No more 3rd party buyouts and no decent deals on new comparable vehicles has changed the plan lol
Don’t be fooled by the current market. These have notoriously poor resale in normal markets.
You’re looking at a huge drop in value in 2 years + the TTL you’ll pay to buy it out.
Aside from tires you have other big maintenance items coming up like the differential.
On an annualized basis, you’re probably looking at a lower TCO (total cost of ownership) on a Highlander or Telluride purchase/ownership for 4-5 years
Vs buying this for 2 years.
I’d agree. You’re going to lose a ton of value in an Infiniti SUV vs buying something with high residual outright.
I agree, the current market is wild and will likely dictate our decision. We will re-evaluate closer to lease end. The tax on the buy out is the killer here. Perhaps some deals will come around later in the year that would make sense for us to swap out near lease end.
what is the buyout ?
Waiting too long eliminates your best route, which is to order your next vehicle.
$26,500. Just checked some of the 3rd party buyers and am getting offers from vroom and carvana at $33-34k as of today
About exactly in line with my 2019 XT4 Cadillac. 26k buyout, carmax offers 36-38k.
Good on KBB.
Carvana offer has dropped over 3K on my 2019 QX60 Plain Jane Pure (49K miles) in just two weeks. They are moving fast on certain models as the used car market insanity corrects.
I have a three month extension after calling IFS and since already over miles will now plan to just hand the keys back in a few months.
Stopped into my local Infiniti dealer just for fun and found the salesman we leased from. Told him we were thinking about buying our out and then coming back to see him in a year or two for the new QX60. Asked him about the whole situation with the KBB story I just read, taking advantage of people wanting to buy out their leases and he did his best to play dumb.
Said it wasn’t his call on any of that stuff and when we are ready to give it back or buy it out, we have to speak with the sales manager.
Asked him if they had been doing anything like this to their customers and he basically deflected and wouldn’t answer.
Which was your answer.
I second this to the T. I was not happy with my wife’s QX60. Horrible fuel economy, even with the CVT. Not sure if the QX60 still has the CVT or not.
If anybody is looking to buy out their leases, looks like Nissan / Infiniti is starting to feel the heat from consumer complaints. I’ve been considering the buy out option on my wife’s QX60 and i have been reading about the ridiculously over the top fees that dealers are trying to charge people to exercise their contractual buy outs. Some people are claiming and actually paying upwards of $2000 or more in fees just to buy out their leases. Its happening with other brands / dealerships too.
I walked into my Infiniti dealer last week, where we leased from and inquired. I brought up the KBB story linked below and asked if they were doing these outrageous fees. I was told that when the lease is near its end, i have to sit down with the finance manger to discuss. That’s all i needed to know about how my experience would go when the time comes.
Found a few good links and stories that are starting to put heat on Nissan / Infiniti. Its leading to a horrible customer experience and hurting the brand apparently…jeeez, who’d of thought?
Call Nissan financial or Infiniti financial and complain if you feel like you are being taken advantage of.
https://www.kbb.com/car-news/nissan-infiniti-warn-dealers-against-shady-lease-practices/
fwiw, qx60s have absolutely plummeted in value over the past 2 months. i haven’t seen one that was worth anywhere near payoff. just a heads up for those looking to buy these things out at lease end / approaching end of warranty.
Seems like a lot of used car prices are plummeting recently no? Is the Infiniti or QX60 situation any different and if so, is there a reason why?
it’s worse than general used price drops. market has been flooded w them.
Got ya. I guess a crap load of lease turn ins recently?
yes. really nobody wants those cars. strongly suggest reconsidering buying it out. it’s not worth it and it craps out when out of warranty.