What would you do? Lease End 2019 Infiniti QX60

I have a 2019 QX60 Pure, I picked up during the great deal back in 2018/2019. $288/month - 39 months including their 48 month ultimate protection plan and taxes.

The buy-out is $27,301, the return date is next week as I have already extended my lease and this is the final return date.

I was going to pull equity out in January when I was offered $32,800 by a local dealer but didn’t have a car to replace it with. It’s tough to go back to my old spare car (2005 Saab with minor turbo issues) with kids and taking people out to lunch for work etc. I couldn’t return it as I had many long distance road trips.

Now the value is coming back from kbb and others for instant cash offers of $22,500 - 24,800. The value dropped like a rock but to buy this car used at any dealer is still $33,000-36,000 locally.

I don’t want the QX60 long term and will deal with my old car for a little while but with all these crazy lead times, what would you do? Just curious.

Options:

  1. Buy it out @ $27,301 + Taxes + EOL Fees + Extended warranty $2800. (Prefer not to do this to get stuck with the car if it’s truly underwater in value, but can’t find an equivalent replacement for this price point). Then have to deal with getting rid of it when I find a deal that is worthwhile. All current leases, don’t look good yet, looks like it makes more sense to buy unless I get something that is eligible for the $7500 federal rebate and the up to $4000 NJ rebate.

  2. Turn in the QX60, Order a Ford Mach E or similar that has eligible rebates on 8/15 @ MSRP… I don’t like being in a position of having to buy something, especially at full price. I usually try to buy only when the deals are right. I am not the type that must have a specific car. I would drive my spare car until my new one arrives

  3. Turn in the QX60 on 8/15, drive my spare car until an awesome leasehackr deal comes up which means probably a year or more with the current supply/demand issues. (I am leaning towards this as I suspect the economy will be stumbling soon but I could be wrong. Just concerned about having a major issue then being forced to replace the vehicle on the dealers terms and overpaying, zero leverage)

Just looking to see what other frugal leasehackr would do…

If I could get the jeep wrangler for the $295/month deal or something similar, including the mach e. I just don’t know what the numbers look like and lead time. I am open to ideas on realistic options.

Thanks in advance!

Infiniti? Turn it in and walk away.

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Was in exact same situation but back in March got lucky swapping for two Leafs. Just pure luck.

As for your case - why the need for extended warranty?

I was also hoping for the market to get better but it hasn’t and judging but what’s happening in the market ots not getting much better for awhile. So “waiting for a deal” could be not just months but a a year or more. May be if we hit actual recession and destroy some demand - you can get something.

But I was told long ago - hope is not a strategy.

Being in NJ - I’d serially look into getting some EV take advantage of no tax, $5k state rebate, fed tax while can.

In another thread someone posted that now all of a sudden they are seeing ability to get fulfilled in their Ioniq 5 in September from multiple dealers.

And also - do you need that big of a car? I switched to tiny car w 3 kids and its been find. I just don’t need to drive client’s though.

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I agree 100%, I just was looking for the best value, wouldn’t hold my breath for a similar deal, lol.

I have been looking at taking advantage of the EV credits fed and NJ state. The only thing I havent seen yet is reasonable lease #'s. I visited VW, Ford and others and just talking with the managers, they are saying leasing doesn’t make sense with the high money factor and other factors etc. I am not opposed to buying but will definitely dump it prior to the warranty expiration. In my situation, leasing usually works out best for my expenses/write off’s, but now I am open to all options.

I can down size for sure, Mach E would have been the closest to to what I have.I do prefer AWD as I usually have to be on the road regardless of weather. It just makes it easier. Also I wanted to look at these cars in person which has been near impossible.

I need to check out the EV threads on the best EVs out there. It will be interesting on my 500-700 mile road trips.

If I was to keep the infiniti, I wanted the extended warranty as I had some electronics fail during warranty they tried sticking me with paying out of pocket. The forward collision sensor is on the bumper and they claimed the bracket had damage from an impact. When I told them to do the repair and I want to inspect it with the mechanic, he pulled it and couldn’t prove any damage. So it was 30 minutes of back and forth, eventually he submitted it and was paid by the warranty. Could have been $1200 if memory serves me right. There is also some minor weird engine noise that almost sounds like bad gas when it knocks but tried high octane and still there. So didn’t want to take a chance. Dealer has done 100% of service.

How do you like your leafs?

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I like my Leafs, but I have one at 42kwh and a 62 kWh version. 62 last, obviously, a lot longer.
But my life has changed since the QX60 time. Kids got older, and I didn’t have to haul a double stroller, a suitcase of extra clothes, cooler of extra snacks around. Plus, trunk space is actually larger than what I expected of a car that size. Instant torque is great.

But that’s all fine and dandy - I got this car sight unseen because I was offered a great deal over the phone and I had to take it:)

As for you - here is another twist in leasing EVs these days - manufacturers pretty much stopped passing through EV rebates. So if you want to take advantage of the Fed EV rebate you have to buy.
Plus read up other threads - seems to be a consensus that as soon as the new law is signed by the president, that $7,5k fed rebate because impossible to get because of qualifications. It was thought to start on Jan 1st but some suggest that would become effective immediately.

If you are even thinking of spending $ on an extended warranty, add that money towards buying a new car to have the same equation.

But in reality, you may have to get the car (especially EV) sight unseen but if you are planing to keep only just a few years - it may work.

This is the thread about Fed EV tax credit
https://forum.leasehackr.com/t/rumor-federal-ev-credit-overhaul-back-on-table/426494/691

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ditto for sure

Stupid take. I traded in my 2017 Q50 back in January, and had almost $10k in equity. It was a lease that I had bought out 6 months prior.

OP, check around and see what other dealers would give you for a trade in. Try all the big buyers (carmax, vroom, shift, etc). You may still have a few grand in equity on it.

2017? In January? So you had a 5 year old Lease That you made 10k in equity on? The 2017 Q50 on Carmax right now is $24-26k and you made $10k and Carmax usually takes 4k so they bought it out from you for $8-10k? Either you got lucky or this has story has some holes

Most INFINITIs have the notorious Nissan CVT and that’s a walking time bomb of problems. That’s why OP needs to turn it in and walk away. He might might some money but it’s going to be a tough battle.

No story holes. Maybe the used market has cooled since January, but I owed $20.9 on it, and the dealer I traded it into matched my then Vroom offer which was $29.8. The car was pristine though, to be fair. Only 13k miles, mint inside and out.

The point stands. In this market, nearly all used cars have had their values skyrocket. Even Nissan/Infiniti products, whom everybody loves to bash.

Ok you ‘Traded it in’ that actually changes it a little bit because Dealers can play games with Trading, well at least you made 9k on it before the market tanked (which it is in the process to)

So my advice after reading that does not change, If you can’t find a good price (And it’s seriously doubtful right now), Return that car and walk away.

They didn’t play games with me. The car I bought was a 2021 Mustang GT premium. Got it $500 over MSRP, with zero aftermarket BS add-ons, and best interest rate I could get at the time.

Best and easiest car buying transaction I’ve ever had. I did communicate with the dealer for several months before they finally got me to come in. Ford also had a $1,000 rebate back in January. Patience definitely pays.

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Thanks, will check it out shortly!

I just got back from dropping it off at the dealer as I did check around for the last week but values have gone below the payoff.

You got lucky if you got 10k in equity for a 2017 back in January. I wasn’t getting those kinda numbers for my 2019 QX60 back in January.

So here is my scenario:

2019 QX60

Payoff $27,301

In January - February 2022- I was offered $30,200-$32,800( should have done it)

Now 8/1/22-8/15/22 - $22,300-24,500

So it was a no brainer for me if the car is underwater based on the payoff.

I asked the dealer what they will do with it… They will wholesale it and send it out bc now they have 30+ 2018-2019 sitting on the lot that they overpaid for.

He said there are to many QX60’s coming back and not selling… But this is the same guy telling me to buy my QX60 that I won’t take a hit… Lol

I could tell he wasn’t happy I didn’t buy it out and finance it with them.

I stopped at Ford and the mach e order books were supposed to open today but has been delayed with no eta.

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What’s done is done by… WHYYY did you drop it off without doing pre-inspection???
Never in the future do that. It is a free service.
I, for some reason, thought you could extend some more, could you?
It’s not you will wait for the “surprise” bill for all extra charges. For me, it is the unknown part of the amount is the worry.

I didn’t get any equity, but I was also getting rid of it in Feb 2017. Same payoff. Was offered the highest $28k, which is essential I got to walk away from the car that had 7k miles over, plus needed to replace the rear door panel, among other things.

This, on the other hand, is very interesting info. Although, I wonder if he is surprised they aren’t selling… I bet everything has to do with the price:)

I guess let’s sit and wait for how much of a bill you are going to receive post-turn-in.

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It was my first time leasing, now I know for the next go around if I lease again.

I saw the pre inspection letter 2 months ago but thought the dealer would do the inspection on my return, which they didn’t really do other than a walk around, looked in and scanned the car. The sales guy was being a $#@%!@ b/c I didn’t want to buy it out and use them to finance or lease the new QX60 b/c I didn’t like they way they look now.

He did say my car was in perfect condition,tires and brakes were just done within 3000 miles, not one scratch or dent and the wheels are perfect as I had all 4 redone 5000 miles ago under the ultimate protection plan. So he said the only bill I should get is the disposition fee.

You lucked out, I wish I was so lucky and dumping it sooner, but I had a feeling by extending my lease the equity opportunity was going away. I didn’t care so much about the money as having a reliable set of wheels.

Next lease I will be careful on the return but benig that the money factor and leasing #'s aren’t looking to good, I will stick it out until I get a EV deal or just use my spare car even longer. I will put a little money into cleaning and making it more presentable incase I have to take a customer out.

These damn EV’s are just so expensive for what they are… I am having a hard time at the moment with picking the right EV. Let’s see.

I was in a similar situation with one of those crazy leases on a 2019 QX60. I extended 2 times but for the last extension there was a requirement that I had to get another Infiniti/Nissan. So I sold to a dealer and leased a Wrangler 4Xe that was highly discussed here.

The problem with the Mach-e is that the EV rebates change next year, so depending on income levels and MSRP it may not qualify anymore.

I want to go.into.the 4xe too but Idk if it qualifies for the rebates now since Biden announced the changes.

I just test drove it yesterday. Does you have alot of turbo lag too?

How do you like it for everyday driving?

There was a Maserati dealer nearby, I stopped in and was hoping for a ridiculous leasehsckr deal on the Maserati, lol

For now I will wait and see what to get.

I do have to say, I do miss the days of dealers with tons of inventory and having that leverage of having tons of options.

The 4xe qualifies for full rebates until the end of the year.
The NA versions of the BMW’s do too.

The QX-60 doesn’t have a great reputation as a used car. I’d send it back and consider a Subaru Outback for the same money. They can be ordered at or below MSRP.