It is very true.

I received a letter from Infiniti offering to remove $4,000 off the buyout price if I was willing to purchase the vehicle.

I had an 18 month lease, residual ended up being 32K....Infiniti offered me 28K to buy it out...

I ended up re-leasing another G37....I mean...Q60.... 6MT

 

Was the letter form Infiniti Corporate or a dealer?
Was it because of the name change?

That's awesome!! I'm new to the biz, so I don't know everything. I've never heard of this happening, it doesn't happen just because you are under miles. But, good for you guys, that's awesome that it is happening. Had I known, I may have leased my car instead of buying used

 

Exactly!

Leasing to buy is an awful option. Granted, I am thinking about doing it now, for 4-5 years down the road, but I probably won't, I'll probably just finance because I do not trade in or sell my toys, I collect.

Some people may have to, because of their situations and usually not high line vehicles. For example, you lease a Nissan Altima for 36mo 12K miles and pay 150mo (theoretically), at the end of the lease, you could lease a new car for a little more or buy your lease out, assuming the residual is about 13k, you could get it for a little over 200 a month, so sometimes, financing the residual can be less then a new lease, it would have to be situational and if the person didn't want to go down in car, but it in long run it would cost them more because they would be out of warranty and making a monthly payment. Very seldom does the situation arise that it is a good financial decision to buy your lease.

Hope that made sense

 

you think the q60 awd fully loaded will have a strong resale value after 3 years ?

 

So at the end of Sept When my 2013 G37S Fully Loaded that was marked at 52,*** after two years will be offered to me at 28,000 with 20,000 miles on it it is a bad deal?

 

there offering me a 49k car after 3 years for 27k buy out , it'll be less then 30k miles on it, thats a bad deal ? I'm on the same boat as u, trying to find out the answers lol

 

I just did a kbb at 20,000 miles which is what i'm anticipating. It valued the car at 33,***. Seems to me like maybe I got lucky with the name change and the 4000 discount, but I will be buying my car for less than what it's worth.

I can even extend the lease by another 6 months to bring the residual value down even further.

 

I don't think it's a bad deal, but if a deal is good or bad it is perception. Do you think it's a good or bad deal?

I've sold cars over sticker and my customers are so happy and can't beleive the deal I've gotten them. I've also sold cars at $1,000 blows and the customers hate me, think I'm scum and made a killing and could have discounted the car more.

If you can afford it and you think it's a good deal then it is, I think it sounds like a good deal, but I don't know a lot about Infiniti leases specifically, I understand and know about leases but only specifically Nissan leases

The residual should always be less than what you could buy the same car for with the same miles on a car lot, buying a car out at the end of the lease should be essentially a wholesale price. But yes, it does seem like you were very lucky and anyone else who got the extra $4,000 off.

By extending the lease 6mo, how much would the 6 payments total and how much would the residual go down? Would the money you save with the residual going down make sense to pay the next 6 payments or would it equal out or would it cost more? Are there any extra fees involved in extending the lease? Usually no extra fees, but just check. You can't extend Nissan leases (that I'm aware of) so I am not familiar with the benefits or disadvantages of doing so

 

guys, what important questions should i ask the dealership on a lease ? (included hidden payments, balloon payments (what is that) etc. any help would be appreciated

 

Those are good questions, I forget what the balloon is.

Damage allowance (it may be called something different but essential that's what it is, Residual, fees, make sure they are giving you the monthly price with sales tax if your state has sales tax, disposition fee (fee when a leased vehicle is returned), money factor (which is essentially the interest rate, but does not exactly equate to an interest rate), warranties (you should be covered the whole time), have them give you a few scenarios, no $ down, $5000 down, and then how much down it would take to get you to an ideal payment (100, 200, 300mo) That's about it, I think.

You're doing a good job researching everything, but don't be too worried or nervous, it's only a 3 year commitment, every time you lease a car you will get more accustomed to the process. Don't be afraid to ask the sales person questions (that's why we are here).

 

thank you for helping me out, much appreciated.

 

So what happened?

 

One other benefit for leasing and then buying out the lease is as follows-

The money factor that you are paying on the lease is typically very low- much lower (usually) than the APR that you will get on a new car loan. If you lease it, you are paying a lower rate for the 3 years or however long you have the lease. If you buy it out at the end, you can typically get low rate financing directly with the manufacturer (2.9/3.9/4.9) for the life of the loan.

I have had multiple guests of mine do this and save some money along the way. (I'm a F&I manager for a GM dealership)