End of Lease Strategies?

[kmand]

My 2015 Leaf S is a month away from the end of its 2 year lease in the Atlanta area. I have done some investigation on buyout and came across something thats really hard to understand.

A friend has the same car and lease, but with 5 months to go. A local dealer offered him a $7500 total drive out cost to buy the car. The same salesman looked up my VIN and could only go to $10500. The salesman said that this was because Nissan had a special promotional incentive on the 5 month out lease. Both leases have about the same residual at termination. The $7500 offer also
saves 5 lease payments and mine saves just one.

Does this make any sense?

The only thing that occurs to me is that the 5 month termination coincides with the last minute leasing spree in Georgia at the end of the state $5K tax credit program.

 

[DuncanCunningham]

how about asking if they will extend the lease and make sure it's a month by month lease. then call in each month to see what deals are on offer to buy it out.

 

[luckyleaf]

Hi

I have a 2013 Leaf (S-model) on lease and it is due to end next month. The dealer made an offer for me to buy back at $5510 (includes TT&L i.e. my walk out price).

I just lost 1 battery bar i.e. have 11 bars

Mileage : 35,500miles
Residual value : $12,833.00

My origin lease deal was on the S-model
$210/month with zero down
12K miles/year
3-year lease

Taking into account the $350 lease return fee and any wear & tear price that I may have to pay, this seems to be a decent deal. It will pay off in 2years with my current lease payments.

Any suggestions/comments?

Thanks in advance !!!

 

[jjj240]

My 2015 Leaf S is a month away from the end of its 2 year lease in the Atlanta area. I have done some investigation on buyout and came across something thats really hard to understand.

A friend has the same car and lease, but with 5 months to go. A local dealer offered him a $7500 total drive out cost to buy the car. The same salesman looked up my VIN and could only go to $10500. The salesman said that this was because Nissan had a special promotional incentive on the 5 month out lease. Both leases have about the same residual at termination. The $7500 offer also
saves 5 lease payments and mine saves just one.

Does this make any sense?

The only thing that occurs to me is that the 5 month termination coincides with the last minute leasing spree in Georgia at the end of the state $5K tax credit program.

Does not make sense, BUT it has happened before.
I returned my 2013 S after 3 yrs, and the best incentive offer was 5 months out.
Missed the boat, and ended up vehicle disposition.

 

[jjj240]

Hi

I have a 2013 Leaf (S-model) on lease and it is due to end next month. The dealer made an offer for me to buy back at $5510 (includes TT&L i.e. my walk out price).

I just lost 1 battery bar i.e. have 11 bars

Mileage : 35,500miles
Residual value : $12,833.00

My origin lease deal was on the S-model
$210/month with zero down
12K miles/year
3-year lease

Taking into account the $350 lease return fee and any wear & tear price that I may have to pay, this seems to be a decent deal. It will pay off in 2years with my current lease payments.

Any suggestions/comments?

Thanks in advance !!!

That was very similar to NMAC offer/residual/payment situation about 5 mo. before my lease maturation.
I decided to wait, BUT there was no better offer until lease expiration.
Had I known that now??? I will take THAT offer immediately!

 

[jlv]

Did you contact the dealer or they did reach out to you with this buyout offer? I'm 6 months out from the end of the lease and am wondering if I should be proactive or wait for them to contact me.

 

[luckyleaf]

Did you contact the dealer or they did reach out to you with this buyout offer? I'm 6 months out from the end of the lease and am wondering if I should be proactive or wait for them to contact me.

Yes, I am shopping around with different dealers as my Lease expires next month.

Last year, NMAC offered me an option to buy out at $10.5K and I waited when my 24-month was expiring. Instead, I extended my lease for another year. I paid ~$2200 in lease payments in last year.

 

[DuncanCunningham]

Did you contact the dealer or they did reach out to you with this buyout offer? I'm 6 months out from the end of the lease and am wondering if I should be proactive or wait for them to contact me.

Be proactive.

they will not look out for the best deal for you.. you need to put yourself out there to be ready.

 

[DaveinOlyWA]

Hi

I have a 2013 Leaf (S-model) on lease and it is due to end next month. The dealer made an offer for me to buy back at $5510 (includes TT&L i.e. my walk out price).

I just lost 1 battery bar i.e. have 11 bars

Mileage : 35,500miles
Residual value : $12,833.00

My origin lease deal was on the S-model
$210/month with zero down
12K miles/year
3-year lease

Taking into account the $350 lease return fee and any wear & tear price that I may have to pay, this seems to be a decent deal. It will pay off in 2years with my current lease payments.

Any suggestions/comments?

Thanks in advance !!!

tough deal to pass up and really you have to answer your question cause we can't.

I got an offer of $5800 to buy mine (residual $12K and change) but turned it down because the range wasn't going to work.

I turned it in and now have 30 Kwh LEAF for same monthly no down. residual on it is $9157.05

now if everything goes on LEAF V. 3 like it did on the first two, I will be at the end of my lease with more range than the first two had new. I am guessing I will be offered a price at least a few thousand off or I will simply jump on what should be at least a half dozen near 200 mile range choices.

 

[enrohT5]

Hi,

Thought I'd share my current status!

I track this thread every week or so to see what people are doing with tradeins. We have a 2013 SV, with a 3 year lease ending Feb '17. Our residual is about $14,800.

After NMAC stopped working directly with consumers on buyouts, I reached out to our salesman (we're located in Sacramento, CA) who gave us VPP pricing. Thus far he's simply confirmed that discounts exist. After reading yesterdays posts, I went ahead and blasted 5 local dealers.

Here's my experiences so far:
One dealer said he had NMAC on the phone and could offer $3800. I said I needed $7500 to make it happen. He then said NMAC would offer $4500, $5500, to which I said no. We ended the phone call, and then his sale manager called and left me a message last night with "good news".

Another dealer said NMAC doesn't offer any credit anymore, and the most aggressive offer they could give me was $2800 off. I said no thanks.

A 3rd dealer is trying to get me to come in, because they need to inspect the vehicle before they will offer me anything.

Anyhow, I have a bit of time before the lease is due, and I certainly don't need to keep the vehicle (we're contemplating going to a one car household, as I mostly take public transit for commuting.) I'm inclined to believe that once the 2017s roll out, dealers may offer steeper discounts.

 

[sunil]

I have a 2013 SV, lease expires next week. My dealer is only quoting me the 4500 discount on buyback (so ~9600) and will not budge - but I am seeing posts from others with much larger discounts offered.

Can anybody share contacts from dealers in the Bay Area (San Jose) who offered larger discounts ? Lease expires Nov-30, so I am now in "final decision" mode. Thanks in advance!

 

[kmand]

Georgians who bought out their lease:

I just did this through a dealer a month early on my 2015 Leaf S 2 year lease for $10,500.
This was a drive out price including about $800 of Title Advalorem and the dreaded
$200 annual georgia EV tax. The dealer does the paperwork and I keep the same tag.

The $200 really bugs me, since I paid it 3 months ago on the birthday tag renewal. So the state
end up with $400 for the 12 months.

Is this correct?

 

[Joe6pack]

Yes, that's correct. At least you got it for three months. I paid it twice in the same month. I renewed my tag thinking I was doing the right thing since I was keeping the car. Huge mistake.

 

[LeafMuranoDriver]

Georgians who bought out their lease:

I just did this through a dealer a month early on my 2015 Leaf S 2 year lease for $10,500.
This was a drive out price including about $800 of Title Advalorem and the dreaded
$200 annual georgia EV tax. The dealer does the paperwork and I keep the same tag.

The $200 really bugs me, since I paid it 3 months ago on the birthday tag renewal. So the state
end up with $400 for the 12 months.

Is this correct?

What was your residual and total discount?

 

[kmand]

>What was your residual and total discount?

$15,500 residual, Drive Out $10,500 including $1100 in state fees.

 

[sunil]

So today a Bay Area dealer offered to let me buy out my 2013 SV for 6.9K. That's 7K off my 13.9K residual. I said yes and made a Friday appointment to complete deal.

Then he calls back and says Oops. Mistake. He meant to say 8.9K. All apologetic.

Then he calls back and says he fell on his sword internally because of the mistake and can get me 8.5K and 50% off. 7-year CPO warranty (750 instead of 1.5K).

My previous offer from a different dealer was for 9.4K. So after all this it's still a better offer. My lease expires next week, so I have to decide this week (have been waffling between this and leasing a Volt).

So two questions
- Does 8.5K seem reasonable for a 2013 SV with Premium Package (30K miles, all 12 bars)

- Normally I would never consider a CPO warranty, but it it worth it for 750 ? (7 years 100K miles)

 

[LeftieBiker]

IF the warranty is Nissan's own Gold Preferred, or whatever their high end warranty is called, I'd say yes - as long as the car fits your needs, and will still do so with 11 bars. Do you have QC as well?

 

[sunil]

I do not have QC. But the range works for me (will work even with 11 bars). My round trip commute is 45 miles, and I have free charging at work (have been getting away with just trickle charging at work on weekdays and at home on weekends). Have been considering a TurboCord since I have a choice of 110 and 220 charging at work. I am in the lucky position of having my wife's car for weekend family trips requiring range.

Car will need new tires soon, and I suppose new brakes as well. So have to budget about 800 for that.

 

[DaveinOlyWA]

So today a Bay Area dealer offered to let me buy out my 2013 SV for 6.9K. That's 7K off my 13.9K residual. I said yes and made a Friday appointment to complete deal.

Then he calls back and says Oops. Mistake. He meant to say 8.9K. All apologetic.

Then he calls back and says he fell on his sword internally because of the mistake and can get me 8.5K and 50% off. 7-year CPO warranty (750 instead of 1.5K).

My previous offer from a different dealer was for 9.4K. So after all this it's still a better offer. My lease expires next week, so I have to decide this week (have been waffling between this and leasing a Volt).

So two questions
- Does 8.5K seem reasonable for a 2013 SV with Premium Package (30K miles, all 12 bars)

- Normally I would never consider a CPO warranty, but it it worth it for 750 ? (7 years 100K miles)

since you know the car, we will dispense with the degrading range concerns so add up what you paid for the lease, toss in the final price whatever it ends up being (i am not as confident your numbers are final...) and decide if its a good deal.

FYI; I got an offer of $5803 buy out on mine which would have totaled $14,292. more than an acceptable price on my price/performance scale but I need the range for work so it was a no go. I had an S with QC so yours has a lot more stuff than mine but I also was able to lease an S30 in what was essentially a 50% off sale so hard to pass that up

 

[kevind]

My lease is up in January 2017 on a 2013 S with QC in Southern California, I called and they quoted me a price of $6300 out the door (tax and license included) residual was $12,500, so it seems they gave me around $7k off of residual. This is for a 2013 S with QC, all 12 bars, and roughly 35k miles. The range works for us, so we are going to pull the trigger and buy it, seems like a decent deal?