Also check inventory of your model / year of car, ones with less inventory are more inclined to give you a better deal.
Or they don’t want that car and wholesale them all, so they give lower offers.
Bought a used car at a 3rd party dealer. I had them apply the positive equity from my Q50 towards the purchase. Purchased on the 15th of May, they didn’t send out check till at least the 1st of June. I was almost certain IFS would send check back to dealer and then dealer would need to coordinate with a Nissan/Infiniti dealer for payoff. To my luck, I logged in today and it said account closed, and shows the check payment in payment history. I made an extra payment due to the delay. Now I will need to contact IFS to get excess returned to me.
1 Like
Sounds like you got lucky!
I have QX50 2017 in mint condition. Lease up in July/2021. 36K miles. I live in SoCal.
Anyways,
Carvana (23K quote), Carmax (22.5K), Autonation(20.5K), Vroom(21K), Shift(19K)…
No one will take the car.
My only option is to buy car from dealer.
My question is…
I need to pay Pay off amount (20,600) + Tax (7.5%, $1545) + fees ($1700!)
The fees from dealer I do not get. He said “some dealers don’t have this fee” WTF?!
Anyone can explain this to me?
My goal was to buy (cash) car and then sell it and at least break even.
Returning lease will cost me out of pocket at least $2K.
What is best strategy??
Appreciate any advice!
The purchase option fee should be $300, and the the dealer usually tacks on $80 or so for “documentation”. There is no way the dealer should charge $1700 for you to buy the car. If your lease was for 39 months, you won’t need to pay registration again as you would have already paid it for the full 4th year and the end of the 3rd year of your lease.
$1700 is highway robbery. Call other dealers. Btw, which dealer is this? I am also in SoCal.
Also, why will returning the car cost $2k? The disposition fee should be $400, and that’s about it unless you have major damage/wear and tear.
Thank you for the reply and breakdown.
Yea it was weird meeting with the sales guy and I totally felt it was a bit odd-- Shady vibe the whole time there
I was Infiniti in Valencia, CA
I stopped by there after I was rejected by AN-Honda-Valencia
I have lead with AN-Tustin and “confirmed” they can buy out lease 
Re: Returning car is about $2K out of pocket because…
- Overmilage, ~$1000
- Missing key, $250 (wife says its somewhere in the house*, )
- Disposition fee $400
- Last payment, $385 (june payment)
At this point for $.25 cent per mile overage for supposedly luxury brand I compare that with rental car prices.
Took my QX to Myrtle Beach last week for a 1,400 miles round trip ride and that will be $350 vs $1k+ rental car for 1 week
1 Like
Why would you buy a car when it has essentially no equity in the biggest used car bubble in history?
Limiting your losses to $2k now seems more prudent than rolling the dice on the bubble popping and holding the bag on a car hardly anyone wants to buy.
2 Likes
I heard customers are now seeking to start a Class Action Lawsuit since Financial Institutions cannot dictate who your sell you vehicle to!!!
Exactly, and you can’t dictate who you sell THEIR car to too!!!
1 Like
This is only going to get the lawyers rich. If you’re lucky, you’ll get a Starbucks 5.00 gift card. You’re not selling “your” car. You’re selling an asset titled to the leasing company that you are simply renting.
Me thinks this person doesn’t know
- That no one makes money on a class action but a lawyer
- That giving a leased car to anyone but the owner to make money is technically a loophole. Which is quickly closing.
- And this class action will be shut down by a judge pretty quick.
Your lease is not with dealer, but with the finance company. Can you not talk directly to them instead of through dealer. Ask them the lease buyout quote. Ideally, they don’t charge you sales tax. You can send them the payoff quote amount, and they should be sending you a bill of sale and original title. As soon as you get the title, sell it to a dealer who can accept such title. Search for ‘California 10 day lease buyout…’. There is a lot of information on how to avoid sales tax if you resell the car in 10 days.
EDIT - check this out - California 10 day tax exempt For lease buyout - #54 by kaz5
This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.