End of Lease questions

[dxtone]

Hey Everyone,

I am nearing the end of my first Infiniti lease and had a couple of questions that people may or not be able to help with. I have a 2008 G37 Journey with the sports package. I absolutely love the car and went into my local Infiniti dealer this weekend just to test drive the 2011 to feel the differences. In the three years I've had my G I've only put 16,000 miles on it. The buyout for my car would be 23k plus taxes and fees. For those of you that have dealt with IFS before, have you ever seen them negotiate the buyout price lower than what is on the original lease? This was my first purchase through IFS so I don't know much about the ability to deal/haggle with them. I really love my car and would consider buying it out, but I want to explore all my options.

The dealer I went to this weekend offered me a 2011 G37 Journey with the premium package for $1k down and $460/month. That included the last 4 payments I have left on my lease being rolled into it. From what I've read most lease buy-outs aren't good deals, so I want to be cautious in whatever I decide. If I bought my current car, I would have the options of doing any modifications that I want without the worry of voiding any lease warranty. So, my question to you guys and gals is a) is $23,000 a good buyout price for a 2008 G37S with 16k miles on it. b) For those that have dealt with IFS, are there any negotiating tools that I have available to me that I may be unaware of? Thanks for any help you can provide. Cheers

[Mudgen]

Hard to say without knowing exact options, but it looks like your car is probably worth about $25K on the private market, around $27K if purchased at retail at a dealer. That's really low mileage, and improves the value of the car on the market, and probably its value to you as a keeper to mod.

[telcoman]

Hey Everyone,

I am nearing the end of my first Infiniti lease and had a couple of questions that people may or not be able to help with. I have a 2008 G37 Journey with the sports package. I absolutely love the car and went into my local Infiniti dealer this weekend just to test drive the 2011 to feel the differences. In the three years I've had my G I've only put 16,000 miles on it. The buyout for my car would be 23k plus taxes and fees. For those of you that have dealt with IFS before, have you ever seen them negotiate the buyout price lower than what is on the original lease? This was my first purchase through IFS so I don't know much about the ability to deal/haggle with them. I really love my car and would consider buying it out, but I want to explore all my options.

The dealer I went to this weekend offered me a 2011 G37 Journey with the premium package for $1k down and $460/month. That included the last 4 payments I have left on my lease being rolled into it. From what I've read most lease buy-outs aren't good deals, so I want to be cautious in whatever I decide. If I bought my current car, I would have the options of doing any modifications that I want without the worry of voiding any lease warranty. So, my question to you guys and gals is a) is $23,000 a good buyout price for a 2008 G37S with 16k miles on it. b) For those that have dealt with IFS, are there any negotiating tools that I have available to me that I may be unaware of? Thanks for any help you can provide. Cheers

Welcome to NICO

According to the advice of Suzie Orman (CNBC Sat night & Sunday morning) she states that anyone who leases a car really can't afford it.

DENYED!

Telcoman

[timmy0257]

^^ hahaha...


this question will probably be better answered, but in your case, there is probably no negotiation. i feel like the residual price is set at time of original lease. since the vehicle has low mileage, the dealer can take the vehicle back and probably make a nice gross on it. i doubt they negotiate at all. honestly, if you are looking to mod, i would buy. considering you have been the only owner of that car, that in itself is invaluable. think about it.

[SVTCOBRA]

Buy it!
$23K is a great price for what you are driving!

[audtatious]

Buy it!
$23K is a great price for what you are driving!

Agreed, that's a great deal for a car you know has not been abused (or you know how much you've abused it ) and only has 16k miles.

[timmy0257]

yeh dude, buy it and mod away.

[dxtone]

Thanks a lot for all of the opinions. I am leaning towards buying it out. Now I just have to read up on all the mods I should make on it.

[jmann]

Hard to say without knowing exact options, but it looks like your car is probably worth about $25K on the private market, around $27K if purchased at retail at a dealer. That's really low mileage, and improves the value of the car on the market, and probably its value to you as a keeper to mod.

I'd like to know where you are getting those figures from, KBB shows about 32k as suggested retail for a 2008 G37S with 16k miles, The CPO price is more like 33k. I have been considering one near here that is listed for $31k with 25k miles. I have test driven it and spoken to the dealer and they will not budge on this asking price, it would be nice to have something showing it worth less than that.

[timmy0257]

Hard to say without knowing exact options, but it looks like your car is probably worth about $25K on the private market, around $27K if purchased at retail at a dealer. That's really low mileage, and improves the value of the car on the market, and probably its value to you as a keeper to mod.

I'd like to know where you are getting those figures from, KBB shows about 32k as suggested retail for a 2008 G37S with 16k miles, The CPO price is more like 33k. I have been considering one near here that is listed for $31k with 25k miles. I have test driven it and spoken to the dealer and they will not budge on this asking price, it would be nice to have something showing it worth less than that.

like Mudgen said above, it is hard to say without knowing exact options.
besides, KBB is a tool for consumers. dealers will use NADA.

[Mudgen]

I built a couple of Edmunds quotes, based on "clean" condition, which is what the car almost certainly is. KBB is always way highball. Dealers tend to consult NADA and also check recent auction prices when deciding what cost/trade-in is acceptable to them. They price individual cars pretty much at whatever they think is the max that won't make you walk on by without bothering to talk.

It might be cheaper for jmann to get a dominatrix to do what that dealer is trying to do to him. Hard to say without knowing the options on both sides.....

[timmy0257]

It might be cheaper for jmann to get a dominatrix to do what that dealer is trying to do to him.

[dxtone]

When I put my car into kbb I get the following private party prices:
*Excellent $29,520
*Good $27,920
*Fair $25,520

It is a 2008 G37 Coupe Journey with the Sports package. No other add ons. No Nav, Blu tooth, back-up camera, heated seats, etc.

[jmann]

Interesting, I built it using Edmunds, listing only the G37S options (19' wheels, paddle shifters etc) and it came out to $30,077 dealer retail in good condition, or Certified Used Price $32,714....

[dxtone]

Also, while I have everyone's attention, does anyone have any experience installing a backup camera 2008 G? I have searched the forum and I saw some threads but none addressed the 2008 model. I don't need a nav system but after driving my ex's FX35 I absolutely loved her camera and want one but don't know what to expect cost wise, or if it's even worth it. I also remember hearing that the 2008 model supposedly came wired for the camera, but can't verify that is true. Thanks for any suggestions

[SVTCOBRA]

I recently was looking at a 08 G37S with less than 20K miles with prem.
Was a manual.....had it been an auto I may have tried to work a deal....but I was still tempted.
They came down to $24.5K.
Not sure how low they went before it was bought.
This one was like new inside and out.