Hi, in 2016 my dad leased an Infiniti QX60 for me - 15k/year 39 month. About a year into it, my job location changed and I am about double the mileage. My plan since then has been to do a lease buy-out (about 25K). My lease ends next month but here’s the complicated part - I want to do the buyout and not him. Infiniti is telling me I can’t since I wasn’t the lessee. My idea was to have my dad do the buyout cash and I will essentially “buy” it from him - but wouldn’t I end up paying sales tax twice if I did that? (I’m in CA)
My next thought was to find a dealer to work with me on the mileage to get into another Infiniti. I don’t expect them to waive all of it - it’s about $10K based on my calculations. Do you think there’s any chance that they would split the difference with me if I leased again? (job situation is much better I’m 5 mi from home so wouldn’t have the same issue again). The dealer I leased from told me they will give me a $500 allowance and that’s it.
I haven’t had it appraised at carmax or anywhere as of yet but I am willing to do that. KBB range is 17-21K.
you read that right, read the 2nd paragraph where she says I dont expect them to waive all of it, roughly 10k by my calculations, and then in the last sentence it says dealer allowance is only $500.
Either very ambiguous or she’s in 10k neg equity.
edit: sorry I suck at quoting, mobile gives me issues with quotes.
year 1 = 15k
year 2 = 30k
year 3 = 30k
year 3 1/4 = 7.5k
total = 82.5k miles?
37.25k @.25 cents = $9300 (assuming she guestimated $10k seems right)
Quick math.
Yes I’m at 90K miles so roughly $10K in overages. If I’m paying $10K I would think it makes more sense to buy it out, keep it and pay it off As far as being negative from the buyout I plan to only finance what it’s worth and pay the difference in cash. Either way I plan to spend $5Kish. I’m just trying to figure out what makes the most sense. It’s been a great car with no issues.
If you want to get back into leasing just buy out, sell to carmax,carvana, vroom. Assuming you get 21k your loss is capped at 4k. Either way I don’t think paying 10k in overages for miles is smart in this situation.
You can look at 4k as another $100 a month to budget for. Unless you like the car I don’t think you will ever get ahead of the depreciation curve on this one.
My 2010 Infiniti has been more expensive to keep on the road post-manufacturer warranty than my 2003 Mercedes E500 was… and that’s no small achievement.
Fixed. There’s another one around here, either he multiplied or grew. But Infiniti’s will last 1 million miles without any service, BMW owners need to carry oil cans around instead of gas cans.
Should have just gotten another cheap commuter that gets way better mileage too.