Pathfinder lease, offer to terminate early for newer model... worth it?

zx7king

Hello...

I have a 2014 pathfinder with 15 months left on a three year lease. I have a good monthly payment that I am happy about. The other day i got the usual call from the dealer that my vehicle is in great demand . Anyway, they said they could put me in a new one with a new three year lease and keep me at my same payment with no money out of pocket. That sounds good to me because I love this vehicle and planned on getting another at the end of my current lease. However, here is the kicker... they want to put me in a 2015 not a 2016. That immediately got me thinking is this in their favor because a lease off the street for a 2015 could be lower than i am paying now?

thoughts from the experts?

thanks!

Mr_Shiftright

Well they aren't doing it for charity, so they're making a profit somehow on it. I dunno--maybe there's profit in your residual?

zx7king

they are now offering me more miles.. 15,000 on the 2015 lease with same payment and same vehicle options.

Mr_Shiftright

How long is the new lease?

zx7king

same as original.. 3 years.

Michaell

Lots of unknowns here. As noted, the dealer isn't a charity, so there's money in it for them somewhere.

Here's the information you need to make an informed decision:

Payoff of your current lease - call the bank to get this number.
Trade in value - dealer should provide this

At this point, you'll know if you have equity or not. I'd say not.

Then, get the dealer to break down the lease numbers on the 2015 - MSRP, selling price, fees and taxes, how much due at signing.

It's possible there is enough of a discount on the new PF to "hide" the negative equity of the trade.

Knowledge is power - the more knowledge you gave, the less power the dealer retains.

Keep us posted.

carboy21

You are getting one model year newer vehicle for just 21 months of extra payments.

Go for it if you like Pathfinders.