Asking the experts here for a family member. I’m very familiar with lease hacks but i haven’t purchased a car before and would love your input.
Family member has a nissan sentra 2021 sv that is due back by the end of the month. Debating with them on whether we should buyout the old one (remaining cost including fees and taxes is $15,250) vs lease/buy a 2024 SV. It looks like the car still has $1k in trade in equity, so a 2024 barebones SV will be roughly $22k included tax (nyc), trade equity, etc. I’m against buying the 2021 bc they’ve already paid $9400 to lease it so buying it out now will mean they overpaid for this car.
My question for the group here is what is a sufficient discount to ask for if you’re buying the 2024? Here’s my stab at the calculator (lease vs finance). Link
TLDR: Is $18k included tax too aggressive for a 2024 sentra SV? Or should we just buyout the 2021 and overpay by $2k? Thanks in advance!
You have to ask an honest question is for how are they ready to drive the car. Buying the car - owing time is a big play factor.
Plus $9k paid to lease is a sunk cost. Better to compare current buyout vs market price which you said it has a $1k equity which is pretty good. How much of that $9 was interest?
And how likely to get that much of a discount on 2024? May be 2023 (if there are my left on lots)
I have, most relevant and recent posts are all fpr lease prices. My understanding is that lease offers and finance offers are different, so it’s not apples to apples right?
9k is what they’ve already paid for the 2021, the buyout cost is $15k for that car, v.s. buying a brand new 2024, which I’m hoping to acquire for less than $20k (all inclusive of fees, taxes etc). Is that feasible?
Don’t know. I haven’t checked inventories. Rogue used to have A LOT inventory and it was easy to get 12% off MSRP.
To get Sentra at $18k all in… yup need 20% off MSRP before any tax, tag and fees. I don’t think that is likely to have that type of discount on 2024 Sentra.
