I’ll start with I understand none of you can predict the future. With that said, I have a 2018 Pathfinder lease which is up at the end of June. I have been monitoring the equity situation and for the first time just this week it appears I may have some positive equity (1000-1500).
Along with the rest of America, I am looking for another 3 row SUV at some reasonable value. My current top 2 are Highlander and CX-9. The broker deals I have looked at for the Highlander are ok, but by the time you include 15,000 miles (which I need), broker fees, and possibly shipping you are in the high 400s for an xle. CX-9 appears to be in same ballpark and probably even higher. I have spoken to a few dealers near me with whom i have a casual relationship with and 7% seems to be the max pre- incentive discount on anything, with 4-5% more likely. These numbers generally put me in the same range as the brokers once you add everything up.
These are numbers which one year ago or less many of you (including me) would have laughed at, but this is the market today it seems. My quest for opinions:
Do I take advantage of my positive equity sooner than later and just deal with the lousy buyers market, or do I take my chances by waiting until June to see if anything loosens up but risk losing some equity and dealing with an even worse market instead?
Again, I know none of you can be certain, but I am interested to know the thoughts of some people who are way more clued in than I am on this subject. Thanks in advance.
Really enjoying the 21 CX-9 so far, for fun put in super unleaded today and it took off for a 3 row SUV. 3rd row not for adults but small kids ok. Its been a good value so far.
I will say I just went from the pathfinder to the highlander and couldn’t be happier (sold mine to ALGO, No equity left in it but better than a disposition fee).
I did go top of the line platinum hybrid which doesn’t lease as well as the xle and am paying $484/mo with only first due at signing (broker fee and shipping was $900 total so effectively $509/mo which it sent too bad for a $52k SUV that gets 32+ MPG (we don’t pay taxes in my state). I’ll be adding it to the shared deals as soon as I get all the paperwork back from the dealer so I have everything accurate.
I tried to get a deal through a local place but had no luck getting a deal. Reached out to a couple of brokers and @Jrouleau426 had what I was looking for, super easy to work with and the dealership was fantastic.
the only place you can sell to is carmax and it’s highly unlikely there’s any equity in a pathfinder, unless it’s an SL or platinum. your real equity would be getting rid of the dispo fee + any mileage and wear and tear penalties.
I was told by ALgo they could buy the car. I specifically asked if they could purchase from NMAC because I had heard that Nissan was a no go with 3rd party buyouts, and they specifically told me yes they could buyout a lease from NMAC. Should I doubt this?
Thanks for the info. I also received a positive but lower offer from Vroom, but I have not spoken to them. Would they give an offer if they could not buy?
Vroom will buy out a Nissan, Carvana definitely does not. I was actually shocked my offer for selling my Rogue went from 16100 to 19100 over the course of 2 weeks from Carmax. Carvana offered 21,700 but they don’t buy out nissans. My payoff was 19,386 so not bad to get out of my Rogue for $286 with over a year left on the lease.
MPG normally isn’t a huge issue but if you are driving 15k miles per year the MPG difference between the Highlander and the CX-9 is gonna be significant. Probably talking 50 bucks a month. And that’s assuming you put regular in the CX-9 and accept the reduced 227 HP output.
Yes thank you I had done that, and while it seemed they did, there was some uncertainty. When a broker suggests they do not, I thought it was worth double checking. It does appear that Algo and Vroom will buy out leases from NMAC.
