I’m in the same boat with my '21 Rogue. Quickly approaching 30k miles on a 10k lease with 8 payments remaining.
I called NMAC and they said I could return the vehicle and just pay the Disposition fee. I’d suggest doing the same and opening up a new lease if you don’t want to pay the overage.
The one thing you’ll want to look at is:
-Current cost of your lease
-How much you’re expecting to pay for overages
If it still costs less to cover the overages than a new Pathfinder, stick with the car, otherwise look into just returning the car and getting a new lease.
@RyVance23 I am actually in the same situation with you, like you, couple of things have evolved in my life and career so this is also the first time ill be going MUCH OVER the allotted miles agreed upon.
2023 Pathfinder, 18 month lease, 10K a year. I have 10 payments left and I just broke 10K today. (5K roughly left on contract).
Ive called up Nissan, you can purchase miles up to 30 days prior to the lease maturity date. Rate is lower than most makes at a rate of 10 cents a mile. Option 2 would be extending the lease, up to 6 months.
Hope it helps.
Edit: Purchasing miles before lease is $.10 cents. Return with overage is $.25 cents.
Did the employee mean to imply that you could just walk away from a penalty by returning it? I would assume that the penalty isn’t truly forgiven, even if you lease another Nissan (esp given what @IAC_Scott had written).
This is really interesting and helpful too. I’m only torn because I don’t know if I want to stick with a Pathfinder but might be worth it - I’ll see what the current rates are looking like these days.
If you truly can purchase miles at 10 cents then no option is likely going to be cheaper (unless you got a really crappy lease to begin with). Just enjoy the car.
Could be true but I’d be really wary of any claims you can just turn your lease in 8 months early with no repercussions to your credit.
The mile purchase option is on Flex Lease only. Call NMAC and make sure your vehicle is eligible. It should be since it’s a '23, but my '21 was not eligible.
Because of this, the broker I spoke to about a new Rogue said he won’t even let me get a 12k lease because the $0.10 option makes too much sense.
Not sure what region you’re in, but I’m Tri-State and Aronchi who’s a broker on the marketplace side has some decent Nissan lease deals.
I had a leased car, Honda, with 117k miles on it, many years ago. No new car dealer would touch it. It was worthless junk to them and they wouldn’t offer any waivers if I leased any car from them. I just detailed it, took two dozen pictures, inside and out, and posted it for sale on cars.com. When people called I explained that it’s a lease, I don’t have a title, and once they paid for it they would have to wait for me to get a title, so I could release the vehicle. Most people didn’t bother, thought I was a fraud , out to scam them. And I didn’t care, I just posted it at payoff amount, and was planning to pay up to $2000 out of my pocket to get rid of it (I looked up the local market and my car with 117k was still very good deal at the price I wanted to sell it). A week later Nigerian guy called, he was working at a hospital in Texas. I told him everything as is, full disclosure. He offered $3K below, we ended up agreeing on 2. Three days later he came over, gave me certified check, I deposited it, bought another certified check adding my funds to it, mailed to bank, received release, got title and had him come over and pick it up with the car. He was exporting vehicles to Africa and it worked out well for both of us. I ended up paying $2000 for driving my car 81,000 miles above the limit. At .15/c per mile the fine would be $12,150, no bank would want to finance the purchase and cash purchase was the only option (and I didn’t want to buy a used car with 117k miles on it). Needless to say, I watch my miles carefully since then.
OP, why don’t you confirm with the captive how much it would be to purchase miles prior to lease end, if that’s an option? At $0.10/mile, if you are over by 15k miles at current pace, you would pay $1500 vs the $2250 lease end charge.
I get that you don’t like me here (may be you retail MBs and I am killing your business by asking about best deals on GLE? ), and to be honest I don’t care what you think about me. But I am just curious, what is so integral about one sentence you took out of context, what does it imply?
Not so fast counselor. 1st of all, used RAV4s aren’t cheap! 2nd, As a high mileage driver (I average over 20K miles per year) you get crushed at trade in time. It doesn’t matter that your higher than average mileage car is a 10/10 on the outside, 10/10 on the inside, has brand new Michelin tires on it, and dealer service records from day 1. You are trading your 3 year old car with 60 K miles on it and they have lease returns (same year, make, & model) with 12K-18K miles on it. Leasing is advantageous because your depreciation costs are fixed. So you might have to pay for over mileage charges. Apples to apples, your higher mileage car is going to have steeper depreciation than what the over mileage fees will be.
I thought this was going to end up with you paying him money in the old classic Craigslist scam, or that your grandma got an email from a Nigerian prince at her AOL email address that started it all.
That’s why one should never have preconceptions. No need to be an idiot and fall for scams like a village fool. But also no need to be rigid in one’s thinking and assume you are a bad @$$, know it all and all people suck and are out to get you.
I found your story amusing too. I think he was just saying in a sarcastic way, thank you for letting us know he worked at a hospital in Texas. For if it has been a hospital in Oklahoma, who knows the offer he could have made! /s