I currently lease a INFINTI QX60, and we only have 22,000 miles on it and we are contracted for 32,000 during the lease. It sits in the driveway because I have a take home work vehicle that I drive instead. We have 7 payments left
My wife wants to get a nice commuter sedan and our budget is around 500 a month after tax.
I lease a Volvo XC90 and I’m trying to work a deal right now on an S60 because I can get the first responder rebate and Volvo loyalty, so waiting to hear back on that. The sales manager said he had enough dealer cash to make the remaining payments on my Infiniti, and there should be some left over and also the rebates through Volvo plus my money down.
Every broker I’ve talked to on LH was saying they wouldn’t touch trying to get out of the Infiniti.
Are there any auto makers with good conquest programs that would help in my situation, or do I just ride out the Infiniti and start afresh when it comes time to turn it in?
Since you’ve already talked to a few brokers and you have a short time left on your lease, you don’t have many options. Your best bet would probably be to ride it out.
Even a lease buyout will be tough as many third party buyers won’t work with Infiniti. Maybe Carmax will? But here’s a snippet of what LH usually provides for buyouts. GLWT
Lease Buyout:
You can have a third party buyout the car. In order to do that, you would call your leasing company and get the current “dealer payoff quote” which is the amount of money needed right now to payoff your car which will satisfy your lease agreement. Once you have that number you can take your car to your local Carmax and see what they would offer to buy your car. If the amount is near or above your dealer payoff quote, then you can sell it to them and you would be out of the lease. Alternatively, you can get an online quote from vroom.com or carvana.com who will give you an instant online offer. If you accept the offer, they would come and pick up the car from you and pay you on the spot. Ideally you would get a quote from all sources as they may vary significantly. For more information, please see forum discussions:
For additional information, make sure to check out Leasehacking 101: How to End Your Lease Early
Why are you going to get a “commuter” sedan when the second car you currently have just sits in the driveway? It’s like you’re just trying to throw money away
Wife makes good money, and at the moment the Volvo is her primary car, we had a sedan and SUV years ago but got rid of the sedan because she wanted the 7 passenger SUV for the kids.
Problem is she got a big promotion and has to go between three offices and she doesn’t want to rack up the miles on the Volvo now
Trust me i already had the “why don’t we just buy a Prius or Corolla” discussion with her
We had a qx60 and a q50 originally. The q50 was almost up on the lease so we traded that in when we got the XC90. At the time when we had both SUVs my wife was working 10 minutes from where we live and our son was going to school 10 minutes from where we live. However she ended up switching jobs and now has a 40 min commute. Like personally I’m ok with riding it out but wife is the type of person who always wants that new car which is why we always lease.
This would be the smart move. Otherwise, you’re just overcomplicating things. You’ll get conquest regardless in 7-months, but they’re not really ‘eating’ your 7 remaining payments, they’re just rolling them in. Thus, you’re paying for 7 months of the QX60 but forfeiting use of the vehicle.
If you actually have equity in the vehicle, try seeing what you’ll get from Carvana/SHIFT/vroom, but note that for some of them since they won’t buy out an NMAC/IFS lease, you may need to buy it and then sell it - which may or may not make sense if you end up having to pay the sales tax.
Find a third party who will work with Infiniti, get an appraisal and if you find one who will at least match your buyout then there is your solution. Or, find a dealer who will look at your vehicle as a trade in as opposed to a lease with payments left.
If she is that dead-set on getting a new ride and you can’t get any trade in value, you can easily find a dealer who will roll in the final 7 payments into a new lease. Does it make sense financially? Not in the slightest…but at the end of the day seems like she can afford it and it’s ultimately her decision.
Get an online quote from Carmax and keep checking it. I started looking about 2-3 months ago because I was in the same situation with my Nissan just sitting in the parking lot- I have been WFH since last March. Got initial offers from Carvana and Vroom and they were in 15-16k range, my payoff was 19k+. Carvana offer went up to 17, but found out they don’t work with Infiniti/Nissan at all. On a whim I checked carmax to see their store hours and found they had an online qoute system. Initial offer was 18,100, and over about a week I kept checking it and it went up to 19,100. Just sold it this last weekend and gave Carmax $286 to get out of my lease 14 months early. On tip- don’t take the car in for an in person appraisal until you are completely ready to pull the trigger. I took it in just to see if the deal was real, but every time I would go to check if the value of the trade went up on the website, I would get the message to please come in and schedule. Overall, the process couldn’t have been easier from Carmax side, Nissan is a PITA to work with and they wouldn’t give Carmax the payoff over the phone, I had to be on speaker phone. Also, FYI, the buyout price on the Nissan/Infiniti finance site is the exact dealer buyout price.
