Refinancing your Infiniti lease is equivalent to buying a used motorcar.
Provided your Infiniti sublet is scheduled to deadline soon and you wish to direct the vehicle, there are distinct options available. Some consumers choose to fee cash to pay for outside their agreement for the residual value. However, this option is not practical for all buyers. If you want to keep your leased Inifiniti vehicle but want to make payments, you must refinance the lease buyout amount, also known as the residual. This can be done with a local bank or in person at an Inifiniti dealership.
Instructions
1. Determine your residual value. The residual value, also known as the lease-end value or buyout, is listed on the lease contract. If your contract is not available, contact Infiniti Finance via the Internet or phone. Compare offers. If you have applied for refinancing at multiple lenders or dealerships, compare the quotes and finance offers. Applying to refinance your Infiniti lease with multiple lenders will let you compare rates and terms, letting you choose the loan that best fits your needs and budget. If multiple lenders look at your credit within a period of a month, all of the inquiries count as only one inquiry on your credit report.
Apply for financing. You can apply with local banks and credit unions, or you can visit the dealership who leased the car to you when new. In any case, the bank or dealership will need your credit information, as well as some information about the mileage and condition of your Infiniti.
3. This is the amount for which you can purchase the vehicle at the end of the lease. In addition to this amount, you must also pay fees charged by the bank who refinances your loan, if necessary, and sales tax on the residual value.2.
4. Select an offer. After comparing offers and finding the lowest monthly payment with the most competitive terms, contact the lender or dealership with the offer and inform them you will be doing business with them.
5. Complete paperwork. Refinancing an Infiniti lease is a lot like buying a car all over again. You will be required to sit down with a finance manager at a dealership and sign multiple forms that re-title and re-register the vehicle in your name. Remember, during the term of the lease, the vehicle was titled to Infiniti Finance and you were simply a lessee.
