I don’t think buying out your lease is the best idea because eventually this market will crash…it’s absolutely nuts right now. IFS Closed Auction has 2020 QX50s with starting bids at or near original MSRP.
Anything that is a 2018-2019 with a clean carfax likely has some form of equity with the exception of QX60 (for obvious reasons).
If anyone is trying to cash out or get out of their IFS lease early, feel free to message me with your VIN and mileage. Some of you might have an nice early-term quote or genuinely have a bit of equity.
No one is suggesting to buy out the lease and hold it, just to buy it out so you can resell to a larger group of dealers rather than having to find an nissan/Infiniti dealer that won’t offer less because nmac has the lease held hostage.
Man this stinks. The residual on my Leaf is so low that I’d be making quite a bit by selling to Carvana or CarMax, but they’ve all told me they can’t do it, so I’m working on buying out the lease myself. I’ll make less since I have to pay tax & fees, and it’ll take a month or so to get the title and all that, but I should still come out ahead.
I complained to CFPB, and fired off a complaint under MA consumer laws to NMAC but I doubt it’ll do any good.
Really leaves me disliking Nissan quite a lot, I can’t imagine doing business with them again after this.
I should also mention I called NMAC a few days ago and the rep said third-party lease buyouts were fine, so clearly not everyone has got the message. Even the Nissan PR guy on Twitter is telling me I’m wrong but clearly no one seems to be able to buy a lease out anymore.
My Carvana offer last week was $2k over my current buyout, and $1k my day one selling price. Thankfully for me in NJ, EVs are tax free, and if it were that easy it would’ve been gone.
We wanted to get out of the lease on a 2019 Nissan Sentra. First did the online offer on carmax and carvana, and we ended up going with carmax offer. Since we have a good positive equity with it.
Brought the car to carmax to be told that NMAC refuses to sell the car to any 3rd party. So I then called NMAC, to ask any further options I have on getting out of this lease without having to pay so much out of pocket.
NMAC states, car has to go through auction and what it sells for that’s when they can give me the amount I have to pay them. It’s quite stupid if you ask me, when a 3rd party is willing to give what’s left on the loan. But NMAC is willing to gamble the car via auction not knowing if it’ll sell for what it’s owed.
Nissan replied in less than 24 hours to my CFPB complaint. There’s some details in here that explains why Carvana said no this way: “At this time, we are not able to move forward with purchasing your leased vehicle as Carvana’s policy does not align with Nissan Infiniti’s policies, and this prevents us from being able to purchase leased vehicles from this provider.”
I guess Nissan isn’t actually preventing Carvana from sending them money, they just won’t tell them how much to send, and they would have to wait for and trust me to turn the title over to them. I bet they’ll drag out the title process too.
This reeks of anti-trust violations for manufacturers to push out new players like Carvana from the used car market, but I am not a lawyer.
I wholeheartedly dislike the new policy as a consumer. However, there is no gamble for NMAC since the market value of the car is no secret to anyone. It’ll be sold one way or the other for more than owed. There’s also the possibility that the dealer that grounds the car, gets to purchase it due to the demand of used vehicles and chip shortages
You can’t sell someone else’s property out from under them, without first buying yourself. Anything else is a courtesy. I don’t particularly like the banks, manufacturers, or especially the dealers, but it’s their car that you rent, and can buy from them yourself at the agreed price.
why we didn’t have anyone complaining about this a year+ ago when most of leases had negative equity.
Oh, wait, we did. it was a section called “worst leases you’ve seen”
I’m sure everyone who is locked out from getting positive equity out of a rented car saying I won’t be with that brand, will still be getting a car, even from a different brand, while that “other” brand has same exact rules forbidding resale.
Not many brands care about customer loyalty, especially from LH forum crowd. Most here hunt the deal from whatever brand is hackable at the moment. Just look at Jeep. No one talked about it until this “hybrid” came along to take advantage of the Fed rebate.
Hi guys I have a buyer interested in buying out my Murano lease but he wants to buy in cash. I’ve heard of dealers that can handle the transaction but my local Nissan wants to ground the car (disposition fee) + dealer fee ($900) to do the transaction. Swapalease does it as well but only through refinance. I wanted to ask if anyone went through this and knows of a better way or service that can handle such situation.
Edit: I know TRED could handle it but they don’t service Georgia.
