Breaking My Lease for a 370z

Modshack · 12-20-2009, 02:48 PM

Quote:

Originally Posted by iskandef

Is there any way I can terminate my lease for the Z without any penalty?(considering this will be my third car from this particular dealership)

You're pretty much screwed on that deal.....As long as you're willing to throw some money at it, there's nothing that can't be done. Problem is, you'll just compound the bad decision you made a few years ago..

danny@FontanaNissan · 12-20-2009, 02:51 PM

Quote:

Originally Posted by iskandef

I have a 2007 Nissan Atlima 3.5 SE on a 5 year lease, and planning on terminating the lease for a 370z. This will be my third car (the 370z) from this dealership. Now the problem is, I got the Altima back in December of 2006 and my lease is not over till 2012! I'm also over on mileage but determined to get that Z.

Is there any way I can terminate my lease for the Z without any penalty?(considering this will be my third car from this particular dealership)

You will get penalize unless that particular dealership you had purchased from would willing to work out a deal for you. If you guys can't come to a conclusion, I would let it ride till it ends. Becareful with the excess miles on your lease, banks usually charge about 15 cents per mile. Check your contract!!!

PapoZalsa · 12-20-2009, 03:13 PM

Quote:

Originally Posted by NiñaBonitaZ

I broke a lease on a 2008 Maxima to buy my 370Z. It was a real good deal though, so I don't regret it.

Please PM me more on that!!! Because when you brake a leased you get penalties.

I leased my old lady SUV and is the worse thing I could ever done when getting a new car.

Quote:

Originally Posted by NiñaBonitaZ

Residual value at the end of 39 months was 16000 dlls. Balance/buyout at time of trade in was 23600 dlls. Dealer gave me 21500 for trade in and knocked off 2000 off sticker price of 370Z. So I got my 370 for about sticker price, which is a hell of a deal considering that most other dealers would only offer me 16000 dlls for the trade in.

You don't built any equity on a leased vehicle. I have tried to trade-in the SUV on most dealer don't want anything to do with it.

BTW, if that is the case u got a hell of a good deal, but I steal can't put the numbers together.

PapoZalsa · 12-20-2009, 03:27 PM

Quote:

Originally Posted by iskandef

I have a 2007 Nissan Atlima 3.5 SE on a 5 year lease, and planning on terminating the lease for a 370z. This will be my third car (the 370z) from this dealership. Now the problem is, I got the Altima back in December of 2006 and my lease is not over till 2012! I'm also over on mileage but determined to get that Z.

Is there any way I can terminate my lease for the Z without any penalty?(considering this will be my third car from this particular dealership)

FRB: Vehicle Leasing: Frequently Asked Questions

SMcK23 · 12-20-2009, 04:23 PM

I went to the dealer yesterday to inquire about breaking my 39 month '08 Altima coupe lease in order to get into the '10 Z roadster...He basically told me that Nissan is currently running a deal where they will pay for 3 months of your lease to end early, but the remainder of payments still must be "worked out" which means penalties...

iskandef · 12-20-2009, 04:40 PM

Im pretty sure ill be able to work something out with them. I had 2002 2.5 Altima, then i got the 07 V6...hopefully i can negotiate with them for the THIRD car. However I think they wont let me off easy..im either gonna get penalized for terminating the lease or the mileage...one of the two but not both. Im going to the dealership sometime next week and hopefully all goes well.

SMcK23 · 12-20-2009, 05:50 PM

Quote:

Originally Posted by iskandef

Im pretty sure ill be able to work something out with them. I had 2002 2.5 Altima, then i got the 07 V6...hopefully i can negotiate with them for the THIRD car. However I think they wont let me off easy..im either gonna get penalized for terminating the lease or the mileage...one of the two but not both. Im going to the dealership sometime next week and hopefully all goes well.

Good luck, keep us posted...I'm curious to see how it works it for you. The dealer told me he can def. get me out of the lease and into the roadster, it is just up to me if I am willing to eat all that extra expense. As hard as it is, I think I will just need to wait and ride it out for another year...

Pharmacist · 12-20-2009, 05:54 PM

Quote:

Originally Posted by SMcK23

Good luck, keep us posted...I'm curious to see how it works it for you. The dealer told me he can def. get me out of the lease and into the roadster, it is just up to me if I am willing to eat all that extra expense. As hard as it is, I think I will just need to wait and ride it out for another year...

isn't that always the case? the dealer can offer you the moon on a golden plate if you want, as long as you are willing to "eat all that extra expense"

NiñaBonitaZ · 12-20-2009, 06:06 PM

Quote:

Originally Posted by PapoZalsa

Please PM me more on that!!! Because when you brake a leased you get penalties.

I leased my old lady SUV and is the worse thing I could ever done when getting a new car.

You don't built any equity on a leased vehicle. I have tried to trade-in the SUV on most dealer don't want anything to do with it.

BTW, if that is the case u got a hell of a good deal, but I steal can't put the numbers together.

simple.

at the end of the 39 payments, the residual value of the car was going to be 16000 dlls. that means that if I wanted to keep the car after the lease was up, that is how much it would cost me.

In late September, when I bought my Z, the the remaining balance in case I wanted to buy the car at that very moment was 23600 dlls.

So, a way of breaking the lease is to have the dealership/bank/etc send the remaining balance to Nissan Financial.

Like I said, most dealerships were only willing to give me 16000 dlls for my '08 Maxima, which is what my car was going to be valued at after 20 more payments that I owed.

The dealership where I went to gave 21500 dlls for my Maxma. So what they did was send Nissan Financial a check for 23600 dlls. That equals a difference of 2100 dlls.
The dealer discounted 2000 off the sticker price of the Z, and added the 2100 dlls difference mentioned above.

So, I got my Z for 100 dlls or so over the sticker price.

A price I was willing to accept. Don't get me wrong.... the Maxima was beautiful and comfortable, but nowhere near as fun as my Z.

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12-20-2009, 04:23 PM	#20 (permalink)
SMcK23 Base Member Join Date: Nov 2008 Location: AZ Posts: 191 Drives: Altima 2.5-want a Z! Rep Power: 16	I went to the dealer yesterday to inquire about breaking my 39 month '08 Altima coupe lease in order to get into the '10 Z roadster...He basically told me that Nissan is currently running a deal where they will pay for 3 months of your lease to end early, but the remainder of payments still must be "worked out" which means penalties...

12-20-2009, 04:40 PM	#21 (permalink)
iskandef Base Member Join Date: Nov 2009 Location: Toronto Posts: 12 Drives: 370z Rep Power: 15	Im pretty sure ill be able to work something out with them. I had 2002 2.5 Altima, then i got the 07 V6...hopefully i can negotiate with them for the THIRD car. However I think they wont let me off easy..im either gonna get penalized for terminating the lease or the mileage...one of the two but not both. Im going to the dealership sometime next week and hopefully all goes well.