Used Cars: 2006 Murano, cvt transmissions, nissan cvt

Question
QUESTION: Dear Jay,
I am nearing the end of a 39 month lease of a 2006 Murano SL/AWD. I have really liked the car and am considering financing and purchasing the car for its residual value of $18,600. It has 43,000 miles on it.  Nissan recently extended the warranty protection on all CVT transmissions to 10 years or 120,000 miles. Muranos have been out since 2003. How are you interpreting that move? Have you heard anything about Nissan CVT's failing at an alarming rate? Are Muranos, in general, proving to be a decent long-term vehicle?  I would like to keep this car to at least 100,000 miles.  Does this sound like a good longer term vehicle at the residual value and with the mileage I mentioned?

Thanks!

ANSWER: Well you are kind of in a good, tough situation.  Truthfully you could probably go out and by one just like it for less than $18,600, but then you dont know the history or how well it has been maintained.  Pending where you live, that vehicle would go through the Auction and bring $13000 to $16000 just pending the market at that time.  So you might could save a little money buying a different one, just not sure if it would be worth it.
Unfortunately I just dont see enough of those Muranos with the vehicles I currently handle, but I have not heard anything bad about them, and quite honestly if I could talk my wife into a crossover vehicle, that would be my #1 choice, simply because Nissan has a pretty good reputation all around the board.  From what I have heard about the CVT transmissions, they are pretty problem free transmissions, generally they just dont have any issues that I have heard of.
Realistically it is a pretty simple setup the way the work.
So in my opinion, all things considered, were I in your position, I would probably keep it, and refinance it, and not even worry about it making to 100k, I think it would go right by that with little to no problems.  Just make sure and keep your maintenance up like you are supposed to.

---------- FOLLOW-UP ----------

QUESTION: Jay, I forgot to mention that it has every option available to an '06 Murano, including navigation.  Does that bring its buy out value closer to the $18,600?  That Auction range of $13,000 to $16,000 is to dealers isn't it?  That's not what I would be able to get it for is it, assuming I could find one with my options in my color (which is a color I like).

Thanks!

Answer
Well adding those options will help, it just isnt a whole lot.  And yes, that is what the dealers would get the vehicle for, and by the time they make it lot ready, and prep it, you would probably be around about the same amount, because we all know that dealers dont work cheaply...lol   =)