This is what my wife and I do when we want a new car.

We buy lease returns 3 years after.
You save a ton of money and the car usually has less than 40k miles.

40k miles is nothing for a new car.

You save a ton of money doing it this way.

I will never buy new

 

I wanted to do this so badly this time around, but this tactic is such common knowledge that 2010-11 CPO G37S (Sport) models sat on dealer lots for all of about a day before they were sold in the 31-32k range with under 40k miles.

It was extremely competitive, so I went ahead and bought new for roughly 4-5K more. It also saves me from later finding all the "reconditioning" scars that appear on lease returns that later become CPOs.

So sometimes, a new purchase still makes sense.

 

You must have gotten lucky cause my residual is 29,5k and my car is only worth 24-25k . Wonder how you got so lucky

 

Because the guy who leased the car before we purchased it paid for the depreciation. We got the car when it was worth a little more than the balance we owed. I haven't checked lately, that may have changed somewhat. But we didn't buy an 09 for anywhere near $29.5. Or even $24K.

 

Ah ok, I was only say mine( 11X Coupe 23k miles) Forgot to mention that before, Next March with 32,500 miles is supposed to be worth $29,500( the Residual) , An I cant her more than 25k now??? Was just curious how you got such a good deal.
I mean even my pay off as of today is $32,800, Will $4k in payment left.

 

Because someone else made a bunch of payments on it when it was new and not worth as much as the sale price. Then when it was worth more than was owed, I stepped in. A little lucky I guess. But just different than many with my financial priorities. The reason new cars are so expensive is because you're paying for the new car smell. It's pretty costly. If you pick up a car at just about the time that smell is gone, you can get a deal for about what the car is actually worth and not be upside down.

 

Glad I leased my 2013 G instead of buying it...

 

I'm pretty sure no G37 will sell for more money than the predicted residual value is at the end of the lease. I've leased 4 G35/37s, and the market value for the vehicle at lease termination was always $2-3k less than the residual value at the time.

For instance, my 2012 G37S 6MT sedan lease is ending this December, with a residual value of $31k. My car will have less than 15,000 miles when I turn it in. The only other 2012 6MT sedan within 500 miles is selling for $29k and it has 26,000 miles. No one will pay more than $29k for my car in December, meaning if I purchased it, I would still lose $2k on top of the depreciation I paid for during my 18 month lease.

I think this is the reason Infiniti lowered the MSRP on remaining 2013s and new 2014s, they over inflated the residuals during the last few years of leasing, and can't justify the resale values anymore.

 

Kicking myself for not leasing. Warning, Do Not Buy From Infiniti!!! Shady business practices...

 

I disagree!
I was very pleased with my previous 06 G35 6 speed manual that I traded in in Aug 2012 with 171796 miles.
The only reason that I traded it was I felt spending a few thousand for brakes and a few other items wasn't worth it. The new one came with all new parts and a four year warranty.
I'm on my second Infiniti now and very happy with it.
When I get rid of a car they are not worth much with high mileage.
I only buy new and could care less about depreciation.
If you buy with the expectation of keeping the car for ten years the savings in not having to make continuous car payments for years outweighs the depreciation in my opinion.
Pay for a vehicle in three years.
Continue paying yourself in a savings account for the next five to seven years and pay cash for the next new vehicle.
Much cheaper in the long run.

Telcoman

 

You are clearly not addressing an audience with that purchasing philosophy.

 

I never believed in buying new, to me it was a waste of $.
Yes a "used car" is less expensive , you also don't get as good of a rate from the bank, unless you have a lot of $ for a down payment. Imagine the lease you took over was a mechanical nightmare.
My brand new coupe was in the shop at least once every other month, if I had to pay for that I'd've pissed.
Yes motors/drivetrain fail after being inspected, even with diagnostic equipment now what?
Pay a note on a car, there isn't much difference either way it's going to cost you.
Btw super storm Sandy, destroyed a lot of good cars.
Quote from my insurance adjuster, all of these water damaged cars will be for sale from Maine to Florida onto a lot near you.
His exact words were"do you & family a favor, do not buy a used car for the next 12-18 months."
So please stop with your .02, the grass is always greener.
Since you were not affected by Sandy, buy all the used cars you'd like.
Who knows the unsafe crap insurance companies have been dumping at auctions.

Because we know how much the insurance company loves you.
Same premium, maybe even more $. They make out.
Btw once it's 3 model years old, you get junkyard parts.
So the cost for the insurance company is way less than a brand new unit.
Plus if it's stolen, it's a lot less risk for them.

 

Funny you bring up hurricane sandy cars... my nephew called me a couple weeks ago to go look at a 2005 Honda pilot with only 55, 000 miles on it in great condition. Looking it over I found lots of corrosion in engine bay and wheel wells ... but it had been cleaned up a lot so you had to look closely. Had a salvage title from new york, the guy said due to hail damage. Got a carfax, was totaled on oct 28, sandy hit on october 21. And I'm in Nebraska! So they can turn up anywhere! My nephew and wife were lucky - someone else thinks they got a great deal - until the electrical starts fizzing out etc.

 

You guys are idiots. This is nothing new. I traded my 2009 in 2010 ($37k sticker) the dealer offered $20. I lost $17k in 9 months and 1700 miles. Of course I didn't pay $37 for a new one but $29 since the MSRP has always been a joke and dealers give huge cashback on Infiniti opposed to BMW or Lexus.

Don't trade it in - you will always get ripped off! I sold mine on ebay for $27k a week later, to a cash buyer.

@ lol at Mitsubishi...

 

I have never heard of this. In fact I was at a Ferrari auction a few months ago. A $274k F458 sold for $258k.. and it was a 2011.