QX50 lease buyout

I went to a dealer and completed a lease buyout.

2019 QX50 Essential /w
ProASSIST Pkg
Premium Heat Pkg
Premium Audio Pkg

$28685.36 (include $300 buyout fee)
$1940.54 Sales Tax(NJ)
$143.38 Reg/Title
$599 Doc fee
$172.73 Inspection Fee

$31541.01 Total

Temporary registration and plate issued.

Carmax estimate is $36,400
Algo $35,200

10/28/21 - visited dealer for a buyout.
11/16/21 - received the title by FedEx.

I’ll update you when I complete the transaction.

There are at least 5 more quotes you need to check.

Good point! I’ll get fresh quotes when I have a clean title.

Best of luck, it was a pleasure working with you!

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Thanks for the excellent service. Everything including paperwork and inspection was done in no time.

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Hello, did yo buy out the car from a lease and dont you need to pay sales tax on something which you will sell now ?

That’s the second line item

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what did u finally do, pls let us know, i am trying to figure out in NJ i have a lincoln lease coming up and want to get into another non lincoln car and finding what my options are for lease returns.

You can buy it out, sell it to the originating dealer, or turn it in. That’s about it.

I understand those options, my question is around how best to avoid the NJ double tax situation when i go out to buy a non lincoln car. Thx

Lincoln? This is the INFINITI thread.

Or did you mean INFINITI, each brand has different options on selling.

You can sell it to your originating dealer. That’s pretty much your only option.

Hi,

I’m in a very similar situation as “yspyps48” with three (3) months remaining on my Infiniti lease. Am looking to enter into a lease buyout with my dealer on 2019 QX50 Essential w/ProAssist & Premium Heat Package. My contract states the purchase option of $27,350 at lease end term, and a purchase option fee of $300.

Based on these figures, can anyone kindly advise what additional fees are associated and/or tagged onto the final costs here in New York… I’m thinking of sales tax on the vehicle ~$28k (due to the additional 3 months), registration, title fees (any idea what the costs are for these fees), and are there any other fees…

After the buyout, am looking to probably sell it back out to one of the dealers - Carmax, Algo, Roto etc. Any help from the community along with thoughts and opinions would be greatly appreciated!

Thx
Ray

You are correct. You can avoid paying tax only if you are selling it to an Infiniti dealer. If you are planning on selling it to 3rd party, you have no option but to pay for sales tax. In my case, it still make sense to sell to 3rd party after all taxes + fees to buy out. I didn’t sell my car yet but will post it once it’s done.

If you are planning on selling to 3rd party dealers, you need to buy out first. You can save doc fee+ inspection fee if you can bypass dealer assistance as someone posted on another thread. In my case, I just worked with NYNJInfiniti at his dealer. It seems reasonable price compared to ones others were quoted.

Thanks, much appreciated!

you’re missing actual sales tax on the purchase of the car and the dealer doc. then you’re going to be waiting 2 months for title to arrive in NYS.

Thanks! I had the sales tax component in mind but am conflicted on whether its worthwhile to buyout this vehicle now, or just wait until the end of the lease (in Feb 2022) hoping some other lease pops-up for me to get my hands on.

I sold my 2018 qx60 today

Residual was 27.5k, with taxes and fees came out 31ish to buy out

Rather than turn the lease in, Infiniti dealer bought my car and cut me a check. I net $4k vs lease return. Didn’t have to deal with purchasing, tax, waiting for title and resale

FYI carvana offered 32-34k; kbb had private sell 33-38 which i doubt I would get. I didn’t shop around other dealers, but I’m comfortable with what I got and the headache I avoided

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Thanks for the data point. Did you do a pre-return inspection or it was not required as you sold the car to the dealer?

Did you sell it right before lease expiration?