Turning a lease in early?
Registered User
Joined: Jul 2005
Posts: 384
Likes: 0
From: Metro Detroit, MI
12k miles over is a lot, but it depends on his annual mileage. I was 9k miles over when I swapped my lease, but since I had 15k mi/yr annual mileage there was still 21,000 miles left until lease end. The guy who took over was retired and didn't drive more than 10k mi/yr, so it worked out. Maybe this fella can have the same luck.
Registered User
Joined: Oct 2002
Posts: 259
Likes: 3
From: Jacksonville, FL
You have to buy the car from IFS first to sell it. You pay the outstanding balance off (residual + balance left of lease) at a Nissan or Infinit dealer. This is because IFS cant accept loan payoffs, only monthly payments. The Nissan dealer takes your money and pays off the loan (dont forget to pay uncle Sam his sales tax on top of the payoff amount too). At that point, the title is put onto your name, and you can resell the car. Trust me on this one, I just found all this out this week as I've been trying to sell my leased G for months. IFS forgot to tell me about the sales tax deal over the phone. I found out from the Nissan dealer Tuesday when I found a buyer and we were ready to begin the process. GL
Registered User
Joined: Dec 2008
Posts: 344
Likes: 2
From: the Big KY
I dont know why. I talked to 2 different dealers and IFS. All three had the exact same story.
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