Opi ions on. Using Nissan Pathfinder and returning lease early

[lexie's mom]

Thus was the first time I ever leased and it is up in Sept. I leased the Nissan Rogue and would love to get out of it early. Anyone know if I would have a penalty to pay. I am also interested in purchasing a Nissan Pathfinder...any opinions?

I would like to do as much research as possible for I want to be prepared. But, totally hat this process. I heard of true car.com but need to look into it further

[cckwmh]

We leased a pathfinder and ended the lease early, about 5 months and still were under miles on the lease. We ended up with an odyssey from a dealership owned by the same dealer. We rolled it into the deal for the new car. We agreed on a price for the odyssey (which was competative with other dealers) and said we would only buy it from them if we could break the lease and not have to pay a penalty or the remaining months on the lease. They agreed. I would try to see what the same dealer would do for you.

[Pbl427]

It is definitely possible. Here is what you need to know to get the best possible deal. Check with Nissan and see what the payoff is on your current vehicle. Even leases have a payoff. This should be the total amount of the remaining payments, plus the residual value of the car you agreed to at the time of the lease. Then, look at trade in values for your current vehicle. If the trade-in value is more or close to your payoff, you should have a lot of leverage to effectively trade it in. If your payoff is significantly more than the current value of the vehicle, then the dealer will probably still do it, but will up the price on the new car to roll in the remaining due on the current lease.

We did this about a year ago with a Toyota Highlander. The payoff was actually several thousand less than the current trade in value so we were able to use the "equity" to pay our deposits and even received a substantial check back from the dealer. Truecar.com is a helpful website to give you an idea of what you should be able to negotiate your new car for.

Good luck with your trade!

[lexie's mom]

Thanks! I will find out if we have equity in the vehicle which we may since I am under miles. If not, then waiting til Sept is not that bad. I will check put truecar.com now.