Payoff letter says “ This letter is confirmation of a payoff quote in the amount of $28,292.03 for the above referenced vehicle. If applicable, the payoff has been reduced as a result of NILT’s retention of the security deposit.”
Does that mean that without my 3k or so in security deposits my payoff would have been close to 32k?
Lease support has ended on the 2020s and the new model isn’t out yet, so it’s not a real number.
That sounds like the payoff number they gave you has already had your security deposits applied, so yes, closer to $32k
Payoff letter says $28,292
Carmax online offer says $25,200
That would be a 5k loss
If I wait until end of lease and just turn it in, I should get back about $2500 which is my $3500 in security deposits minus 3 deferred payments when covid first hit and I lost my job.
Any thoughts on how I should handle? I’m guessing Car Max would offer more than any local dealer I swing by to try to sell to. Right?
I don’t know how the buy out works if you deferred payments. I would assume that the payoff includes this already.
With that said, if memory serves, Nissan/Infiniti won’t sell to most 3rd party dealers anyway.
there’s been reports on LH about issues with Infiniti allowing the sale to third party as @mllcb42 just mentioned. You can read about it here:
It most likely already includes them keeping the security deposit would be my guess with the verbiage mentioned.
On a side note, my online quote for CarMax went from $18,300 one night and up to $19,100 the next morning. Keep checking it often. It seems once you take the car in for an in person appraisal, it locks that price in to their system and every time you go to check online it says to schedule an in person appraisal.
I get it! There are no more unicorns out there and inventory is scarce when it comes to leasing a brand new vehicle. That being said what are my options? My current lease ends in a month and I can’t leave wife without a vehicle.
I am open to not leasing at this point and going with lightly pre-owned. But how do I go about getting a decent vehicle and well negotiated no-haggle sales price? The financing part is easy with local credit union offering decent rates with good credit.
My biggest concern with pre-owned is always something breaking down and me not having to go to a local mechanic that is going to take advantage of me.
If you are able to extend your current lease, that might be the best option right now.
The used car market is off the charts right now, so you are not going to get a good deal (compared to a year ago) on a lightly used car.
Thought about that however I think I read somewhere on the forum that someone with my lease (Infinity QX60) was only allowed a one month extension on their lease.
Just leave your wife
Just call IFS to extend instead of throwing your hands up in the air because of something you read online.
If they ask why? Tell them you are waiting for the 2022 to come out (the 2020 no longer has lease support and there is no 2021 model).
if my qx60 lease ended on 7/21, i would be thanking my lucky stars that it’s ending.
I’m ready to move on from our QX60 but I’m not ready for the $200+ bump in monthly payment for whatever comes next.
If you’ve spent 39 months in a QX60, you can spend 3 more.
Don’t jump into a really bad deal this summer. Now that would be something to regret over the next 3 years.
I believe Infiniti allows a few months extension of lease , call them and ask. I was offeree either 4 or 5 ( don’t recall exactly ) months extension last summer on a QX80.
Consider looking into a lease swap for the next 12 months. When the car market cools next year, #s should be more favorable again.
DW’s QX50 lease is up in a few months. Given the market overall we’ll buy it and keep it for a few months. Then (hopefully) offload it to Carvana, Vroom, etc. Based on offers the last couple days we have about $8k in equity in it. Even paying sales tax we’ll come out $5k+ ahead. If the market tanks quickly DW will be driving a QX50 for longer 
I would not rely on those numbers holding for a several months.
If they don’t hold DW is driving a car that she loves for longer. We’re okay either way. I’ll just have to be prepared to deal with replacing a CVT transmission if that’s the case.