With car prices being so high nowadays, and my Nissan Rogue lease expiring in February 2022, I’m thinking of buying out the lease, since I don’t expect prices to drop back down for a while. But with all the fees, the price is coming out to be more than 35% above its residual value. Is it still worth getting it? Are any of these fees negotiable? Is CPO warranty a must? Any other options I could consider at this point? I do have the cash to buy it if that’s my best option.
Residual value: 15,700
Nissan fee: 300
Service / Inspection: 200
Dealer fee: 1,200
Registration transfer: 450
CPO / warranty: 2,500
KBB value: around 23-24K, so still above the total I’d pay the dealer…
Dima, obviously buy out the lease. You could have just texted me…
Buy it to flip it if you want to. Minimize the fees as much as possible, no CPO, etc.
Or just sell it directly to a Nissan dealer for the highest equity offer.
Never in a million years would you actually want to own that thing long term.
It sounds like NMAC buyouts need to go to a dealer, so find one with the most minimal fees. Except for any fees that are stated within your leasing contract (the $300 Nissan fee might be there), there are no other fees you are obligated to pay. However, most dealers will also require at least a dealer fee, but all additional fees are negotiable. Maybe ask @aronchi if he can help as well.
Buy it out. Don’t be foolish to lease in this upside down market. I just extended my lease into 2022 for a simple low monthly continued payment of $275.
Sooner or later everyone will run out of lease extensions. Then what?
After my lease extension is up I’m buying it out. I’m extending it only to see what the market does in the meantime, if the next 12 months nothing changes I’ll buy my lease out.
Ok and how is that relevant to the OP? Buying and owning a used Rogue is a whole different proposition to an Accord.
I’m not looking that one is a rogue and the other is an accord, that doesn’t apply here. I’m taking all of that out of the equation. The question was should they buyout their lease, the answer is absolutely yes. Simple as that.
The OP can choose to make an informed decision based on specifics.
Or they can choose to take all that information “out of the equation,” and just adopt some one-size-fits-all guidance from some rando on the internet.
For someone that is constantly chicken-littling about the floor falling out of the used car market, I’d think you’d be the biggest proponent of leasing to put all the bubble popping risk on the bank.
$2500 for warranty? How much longer past factory does that take you? Seems VERY high for a Nissan. Unless of course they have started taking into account their CVTs are made of Cheeze Wiz.
$2500 sounds pretty bare bones or 3rd party for a used Vehicle. I think the new Platinums are like $3500 for a 7 yr B2B
I bet searching a Nissan forum will yield a much lower price.
It is worth clicking around to confirm. Within a couple pf minutes, I found several Nissan dealers offering quotes online. Gotta plug in your contact info, though, and I was not willing to take that bullet for you. Here are a few off the top.
I logged in a new Rogue Gold Preferred Warranty is about $1.9k for 8 yrs.
I don’t see the Platinum link though. (Nvm, that’s for Leases)
A 36k Rogue Used Gold Preferred is 2.9k for 8yrs. So I don’t know how far @dimakit23 warranty is being offered.
Here’s the document for Gold
Quick Comparison between Gold / Silver / Powertrain
Too bad that ‘leases’ don’t need extended warranties…hehe.
Even in lease extension situations?
Well if you are going to extend and spend another 2k on a warranty…well maybe it’s time to lease a new car. But I was thinking about why we don’t have a thread for these things…and well leases tend to stay in the warranty.