I turned my Altima lease in at the end of August and I just received a letter from NMAC that title and power of attorney has been turned over to Ray Catena Infiniti. They are a dealership in central NJ but not the dealership I did business with. I don’t remember this notice from the last time I traded in my Altima. Does this mean that they now have my old car for sale?
Not trying to be snarky, but why do you care?
I’m wondering if I left equity on the table. I was 7,000 miles under allowance so I was curious what they’re trying to sell it for. I know there’s nothing I can do now but I was wondering if I should kick myself or learn from it.
Ahh.
Did you check KBB before handing it in? Chances are you could have sold it privately and made a couple of bucks on it with 7K under. But don’t assume that a) they will sell for what they’re asking or b) you could have sold it for that amount either.
If you want, go to the dealer and make an offer. They won’t know who you are. Have some fun with it.
Yeah I checked KBB and it seemed I was a few grand underwater but still curious what it’s being re-sold for. I like the idea of going to the dealership but it’s a hike. Maybe I can call and give them the VIN?
Google search the VIN, if they are selling it, a good chance it will come up
Even if you find the exact car, you don’t know how much the dealership bought it for as it was most likely auctioned off.
Exactly, Google the VIN, and most likely it’ll come up. I’ve looked up our last three lease returns and found all their sales listings. Our leases have always been in good shape on return (low miles, minimal wear and tear), but I was shocked at how tarted up they made my most recent lease return look – high-gloss coat of wax, shiny tires, even the wheels looked like they might have been spray-painted. But the dent in the door was still there! 
Oh, and yes, the selling price was much higher than I could have gotten – there is that. You just have to walk away and not look back, especially if you’re happy with the deal you get on the successor.
Nissan picked the car up and sent it to auction. The Infiniti dealer bought it at auction to sell. This stuff happens all the time. Either the dealer you turned it in at will buy it to sell, or it goes to auction for another dealer to buy. They go by wholesale price, which is lower than KBB, when determining what to give you when you sell it to them. If they can get a car cheaper at auction (wholesale) than what yours is worth, they’ll low ball you. So chances are, unless you sold it private party, you didn’t leave much (if any) money on the table.
I thought i was done here, but short story time.
I sold my car to a dealer (it was a loan, not a lease), same thing happened. They auctioned it and took a bit of a hit on that also 
. The dealer that bought the car then marked it up about $5k and probably sold it for maybe a $2000 to $3000 “profit” since it only took 2 weeks to sell it, flooring and such was probably low.
I know, cool story bro, but i thought it was interesting to follow it (my friend is able to find the sale price at auctions since he has a license).
Which is why I never trade in cars. Always sell privately.
I’ve followed some of my previous turn-ins as well. I find it interesting to see where they end up at after auction and how much they’re trying to gouge on the resale price once bought.
The gouging isn’t on the resale. The gouging is on the money given on the trade in.
Depends. I’ll trade a car in if it makes sense, and this time it did. I got $500 less than i was selling it private party, and they got even less than they paid me (at the auction)