Hey Hackr’s… my QX60 lease doesn’t expire until next April but just strategizing since it’s my only ride, plan on purchasing a truck but not sure when it’ll be produced (Ford). Has anyone extended and then done a lease trade in during the extension (the Ford dealer owns an Infiniti dealership next door)?
Thought process is try trade in (sell if IFS reverts their policies) to Infiniti or Nissan dealer when I get the new truck and during my current lease duration. But if all else fails I’m thinking I’ll extend and maybe get a new Nissan/Infiniti lease or purchase if Ford doesn’t get their crap together and the extension is up.
I agree with the lack of equity but I’m thinking they’ll do the usual loyalty rebate and prices will be more normalish , so it’ll work for trade.
That said, in about 6 months of looking, my equity has only gone down 1K but I’ve put a bunch of miles so equity hasn’t fallen off the cliff like it will when the new model arrives
Why do you want to trade it in? Why can’t you just ground it? If the QX60 doesn’t have equity in the crazy used market now, there’s no way it will next year.
Grounding is an option but last go around they took on my old Pathfinder, gave me lease loyalty + additional rebate. The lease loyalty made it better than a break even situation.
As long as NMAC consents to the trade/sale, it’s irrelevant whether you’re in the original lease term or an extension.
It’s not unreasonable to assume NMAC will continue to allow Nissan and Infiniti dealers to buy NMAC leases, as they do today. But no one knows for sure what NMAC’s policy will be in the future.
What’s up with everyone on this forum chiming in with non constructive stuff. Like seriously every noob type question is met with meh or jackhole comments. I’m not saying people need to be positive and what not but seriously why is everyone such a d on here, Forum used to be helpful and now it’s just grumps.
The question was:
• Has anyone done a trade in during a lease extension with IFS?
• Wish I could’ve sold at the highest equity but next car isn’t ready hence contingency planning.
Just going to close this since it’s non productive
Helping you understand that you don’t have to trade in the vehicle in order to get a loyalty incentive, and can instead turn it in, potentially saving you thousands of dollars, isn’t constructive?
You and I have very different definitions of constructive.
I haven’t replied because (after 2 read-throughs previously and another now) I couldn’t figure out what you were trying to accomplish, even after several people had the patience to try and tease it out, giving you advice and the benefit of other’s reported experiences - that you don’t seem to have searched for or been aware of. Everything that can be done with a NMAC/IFS lease, before and after policy changes, has been done and reported by someone here, including what you are hoping to do.
This is when I realized I had nothing constructive to add: we’d all like to project 2018-2019 behaviors onto 2022, but so far there is zero evidence to expect that. This reads like magical thinking in 2021.
Do you want help navigating a situation now (or soon) in the current reality, or are we staring off into our respective crystal balls?
@jeisensc - appreciate your response and while I tried to restate the question, will IFS trade in during lease extension? I was hoping to see if someone had currently run into this situation since I have read plenty of QX60 folks who’ve probably extended their lease. I can’t specifically find that referenced when searching and wanted a current snapshot that’s all. If no one responded it would’ve been cool since it’s possibly a unique scenario. Again thanks and I appreciate where You went with this.
@mllcb42 Regarding the non-constructive comment, basically I’m stuck with the lease until I get the new car as originally stated. I obviously can’t trade in/sell/get max equity now when it’s my daily driver. So letting me know I’ll be paying a dollar to save a dime as your first post on thread, I mean what’s the point of this? So yes we got different definitions of how to handle things for sure.
@max_g answered and summed it up, IFS can buy it back if they want and as history shows, but no guarantees. Simple and sweet with no excess commentary.
You seem to be working through potential options that are focused around either unloading it now or waiting until the end of your extension and then trading it in to capture lease loyalty. This last option involves lighting a bunch of money on fire unnecessarily. The idea that you must trade it in (absorbing negative equity aka spending a dollar) to get the loyalty (aka saving a dime) is a flawed premise. This is what people were trying to point out to you in their comments, so that you’re properly evaluating the reasonable options rather than basing your comparisons on a unreasonable one.
Same strings: lease has a new disposition date, lessor can buy-out the lease for the residual, anytime between today and the disposition date. Or lessor can sell-to/trade-in it at an Infinity dealership — a courtesy that could be amended/removed at any time (though the last tome they drew a line - they backed down and gave people 2 more weeks).
If the Ford dealer also owns an Infiniti (I never seem to misspell as intended) store — one could sell-to their InfinitI store and buy from their Ford store — as others have reported.
Of course, the only purchase incentives are the ones for the car you are buying: if you are selling the infinitI and buying a Ford, you get no Infiniti incentives.
, so it’ll work for trade.