Hello, I’m in a lease that frankly I don’t think was great, but it feels like I have some leverage in equity to get into a better lease. I want to know: 1. If that’s even a thing; 2. Any comments on the existing lease that stand out; 3. Any advice:
Current Lease:
Location: Arlington, VA
Inception Jan 2021
Y/M/M/T: 2021 Nissan Altima SL
Gross Cap: 32,400
Adj Capitalization: $27,400 (huge DP, I know
Residual Value: $18,000
Rent Charge: $1,600
Monthly Payments: $305
Term: 36 months
Current total Mileage: ~9,000
That lease ends in Dec, but I want to move to a 2023 Altima SR VC-Turbo, and they are rare in my area so either need to get a dealer to order or ship in I guess. It seems like I have a lot of equity in my current Altima, so do you have advice on how to proceed? Or do I just have to buy the car, sell it, then re-lease? And what should I expect for a lease monthly cost?
I hear that the MF/RV here now is 0.00351 and 72% for 36 months for the SR VC-T.
Why did you lease it in the first place? Not a rhetorical question.
The tax burden on leases in VA is really high, it’s the same as purchasing the car. Cycling through that every 3 years is bad enough, you’re doing it even sooner.
And maybe that makes sense on a stellar lease. On an Altima that’s $5,000 CCR (cap cost reduction) and then $300 a month? Impossible to justify.
Please please please do your due diligence before making the same mistake again.
Okay, per Carvana trade-in would be around $25,500. As we know, NMAC doesn’t allow third-party purchases, so I would have to buyout lease and then resell to get that unless dealer comes close to that #.
First offer from Dealer was a Trade Allowance of $22,000. :-\
Use that $25k to shop around different Nissan Dealers or Groups that own a Nissan Dealer.
Ex : Hyman Bros Nissan has a Kia dealership, the Kia might be able to buy it.
