Hey guys. My 2008 G37S lease is going to be up soon and just wanted some advice from you guys.

Here's the spec of the car:

2008 IP G37S (Automatic)
16k miles (yeah. I don't drive much at all)
Nav
Premium
Sport
Technology

The total price at purchase was around $46k.
My lease is 39 months. With the lease-end coming up, I'm wondering if it's worth buying out the car at $28k. (I'll be refinancing it) Or just finance a new car.

Just thought I'd get some feedback from fellow G owners.
Thanks!

 

1) I wish that I could have bought your car...
2)Try taking it to Carmax and get an appraisal. You could come out ahead.
3)Check the blue book value. I did a quick check and the Trade in value was close, if not higher than your buyout. You could come out ahead by buying it and then trading in for a new car....

So many options, but simply turning it in strikes me as almost criminal.

 

Depends on if you like the car still or not......with 16k miles on her clock, 28 wont be bad at all.

 

Put your car on autotrader for 32k, when someone wants to buy it tell them the lease is ending and you'd sell them rights to your car for 2k and they pay IFS the residual at end of lease That's how I bought my G35, I paid the previous owner 1k and paid his residual. That means you can pocket the rest

 

Thanks for the quick responses guys.
Yeah, it does seem like a waste giving the car back in with such little mileage.

Although, if I'm going to buy out the car and sell it - it definitely has to be a private sale since dealers are only offering around 26~28k for the car.

It's a bit intimidating since I've never sold a car before.

 

Is it easy doing that in terms of paperwork/legality with IFS?

 

New York state only the lessee can buy the car at the end, not anyone else including the spouse in the same household...it might be different else where

 

I'll never understand why low-mileage drivers lease cars. It's just seems like a waste of money to turn a car back in with such low miles on it.

I'd probably buy the car if it were me...but does it ever really make sense to buy a car you just leased for the last few years?

 

I had done this in California saw car on autotrader the seller told me he had 2 weeks to return the car back but he wanted too much I waited til near last few days until when he was suppose to return the car at the dealership, we agreed I would pay him 1000 he was a senior citizen and the car only had 16k 2007 this was last march. We called a dealership and asked if they can do the paperwork they agreed on doing paperwork and charging $325. both seller and I had to be present to do the paperwork. The dealership inspected the car charged $150 to inspect we sat down signed some papers I wrote a check to IFS for the residual amount I bought the car in cash, no financing and then wrote a check for $325 for dealership, and paid the leasee $1000 the leasee paid for inspection. And I drove the car home. The hardest part for you will be finding a buyer who has all his financing already done, and willing to buy.

 

Keep the car if you love it. Otherwise upgrade to a new model. The new ones have better features IMHO.

 

I would recommend leasing even if want to purchase the car, the idea is to reduce the payments to actual depresiation value, plus you have the benefit of giving it back if you get in an accident... im leasing mine with 23k buy back at the end of the 4 years... market value being around 33k...

Dont see why you need a car though if all you drove was 16k in 3 years...

 

That doesn't make sense to me. If you lease the car, then you're paying monthly on it anyway. At the end of the lease, you give the car back and walk away. So the money you spent was based upon the time you had it and the depreciation of the vehicle. Of course usage factors in too. But if you buy it at the end of the lease, now you're paying for whatever the vehicle is worth (residual value) and it's almost like buying a used car that you've had since it was new. So why not just buy it from the beginning if you wanted to keep it? You're paying for it either way....

 

I totally agree with you. But when I initially leased the car, I had no idea I'll be driving this little. Right after leasing it, there were changes to my job where I rarely have to drive now.

 

Haha. Well living in New Jersey, it's pretty difficult to get around without a car. All I use the car is when I attend meetings with clients. And since I've been so busy with my business as of late, I haven't had the chance to go for any types of road trips and etc.

 

haha im coming up to the 30th month (39 month lease) and im at 50k miles..yea not buying my car at allllll

your in a great position! BUY IT