End of Lease Strategies?

[peakay]

My local dealer has us down to $6500 for our 2012. Its still not an earth shattering deal, but since we've lost 3 bars and the expiration date of warranty is in December 2017, I'm thinking of keeping it in the anticipation that we'll get a new battery.

In the even that we DON'T keep it, I have a question: Our registration expires this month as well as our original lease. Can I get out of paying for registration or will they somehow bill me back for it at turn in? I wouldn't mind paying for 1 month, but do not want to pay for all 12 months for a car we are turning in. Thanks!

 

[CaptainScavo]

So when the dealer offers a lease buyout, is that amount off the current payoff value or the residual value ?

 

[LeftieBiker]

It's off of the residual value, IIRC.

 

[Oils4AsphaultOnly]

So when the dealer offers a lease buyout, is that amount off the current payoff value or the residual value ?

Isn't that the same difference? Your payoff value is essentially == "residual value" + "payments remaining" - "NMAC buyout discount". So whether it reduces your payoff amount, or the residual value amount, it still translates to the same dollars off, AND can only be taken if you buy the car out.

 

[LeftieBiker]

Except that the payoff amount shown on the lease stub isn't usually the number you actually get quoted if you call - that's lower.

 

[sonnylax]

Nissan is telling us to check with our dealers. Mine is selling 2015 LEAF's exactly like my own for $9,999. Same, Very Low mileage...8k.

Without the $5k rebate offered by the State of Georgia (which made leasing this car essentially $50/mo) getting a newer model isn't likely.

Are you aware of the Clean Cities Georgia Leaf rebate deal going on right now? CCGA has partnered with Nissan to offer $10,000 off MSRP off any new, in stock Leaf now through March 31, 2017. This includes the standard factory incentive, but if you qualify for the federal tax rebate you get another $7,500 which means you can get a new Leaf in GA right now for $17,500 off MSRP. I am tempted to go to my dealer and ask if they will take back my current lease on a 2015 and waive further payments in combo with this deal to get me to buy a new 2017. My current lease runs through December so I doubt they will bite, but if you only have a few months left they might.

The CCGA fleet code is B62590.

Who is eligible for this rebate? It says Clean Cities Georgia Stakeholders. Who is that?

 

[sonnylax]

Interesting to see this thread I started 2+ years ago still humming along......

I have a 2015 Leaf Model S w/ QC rolling off 2-year lease in April 2017.
About 13k in mileage with 2 payments left (February 2017, March 2017) on the 24-month lease.
Monthly Payment is $218
Residual on my original lease doc is $14314

I'd be interested in buying it for around $6k Out the Door. Car has been garaged and I haven't lost any bars yet.

If I understand this thread... I've got to start working the Atlanta dealerships (not Nissan Finance) to see who has the best offer?

Why do Georgia dealers charge for Tags again when I just paid for my 2017 registration in Nov, 2016 (birthday month)?

Thoughts?

 

[Iubball]

Contacted another dealership about my 2014 Leaf SV with QC lease buyout, lease ends in April. Buyout on contract was $14,500. Dealership first offer was $9300 (which includes my last two payments $235 each). Mileage is 34k. I thought this seemed about $1000-1500 above market. Thoughts?

 

[LeftieBiker]

Does it have Premium Package as well? If yes, the offer isn't terrible. If it has QC but not Premium, it's a bit high, IMO.

 

[Iubball]

The car does not have the Premium package. What would you recommend shooting for?

 

[DuncanCunningham]

We have a 2015S.

On a 3yr, 15,000 mile, 0% down. payment is about $350mo. (it's dropped to $339 due to some sales tax changes in Utah)

Maturity date is 4/14/2018 so we have 16 months left on the lease.

Residual is about $12,500 to buy it out at that time.

Just had a call from the dealership I bought it from, but not the sales person, offering a $5000 discount now to buyout the lease.

Current balance on the car is $16,426. so offering it at $11,426.

I've tried to do the numbers and if I was offered the same deal at the end of the lease, It would be $1000 more to do it then. Of course I've not factored in any finance charges on that.

Looks like a couple of others have counted the offers and had some success.

I've looked up the local asking prices for 2015 S Leafs and they range from $9,000 to $10,900 (there is one higher up)

Any Advice?

 

[LightningLeaf]

I also received a call from the dealership today. They are also offering to allow me to buy the car today but we did discuss the possibility of a purchase price of 2015 S with QC for $9000. This is close what everyone else is offering $5000 discount.

Initially, the dealer was allowing me to buy at the residual price today (around $12,000) which would have saved me about 1 year of lease payments. When I told him that 2015 S with QC can be purchased today for $8,000 in the state of Georgia and that's when he started to negotiate. That's when I offered to pay $9,000 but then he had to call NMAC and get back to me.

He then called twice and then text once but I declined to answer since he did not offer a specific number for me to review.

Looks like the Chevy Bolt, Tesla Model 3, Hyundai Ioniq and eventually the Kia Niro electric would present a huge challenge for Nissan Leaf.
As matter of fact, I consider Kia Niro to be a Prius Killer. All these EV with 200 miles plus range should be an UBER or Lyft car.

 

[LeftieBiker]

We have a 2015S.

On a 3yr, 15,000 mile, 0% down. payment is about $350mo. (it's dropped to $339 due to some sales tax changes in Utah)

Maturity date is 4/14/2018 so we have 16 months left on the lease.

Residual is about $12,500 to buy it out at that time.

Just had a call from the dealership I bought it from, but not the sales person, offering a $5000 discount now to buyout the lease.

Current balance on the car is $16,426. so offering it at $11,426.

I've tried to do the numbers and if I was offered the same deal at the end of the lease, It would be $1000 more to do it then. Of course I've not factored in any finance charges on that.

Looks like a couple of others have counted the offers and had some success.

I've looked up the local asking prices for 2015 S Leafs and they range from $9,000 to $10,900 (there is one higher up)

Any Advice?

Do you have plenty of extra range (beyond your needs) in that climate, with the S?

 

[sendler2112]

but we did discuss the possibility of a purchase price of 2015 S with QC for $9000. .

They have a 2015 S W/QC for $9,000? I'm interested in that.

 

[DNAinaGoodWay]

If you extend a lease, do you lose the $500 waiver on excess wear and tear? I got a card in the mail saying it expires 30 days after the original lease end.

 

[DuncanCunningham]

Do you have plenty of extra range (beyond your needs) in that climate, with the S?

Yes, my wife loves the car and is happy with the range. I told her about the 30Kwh giving her, maybe another 20 miles and she wasn't too interested.. she's prefer, if we do end up getting the car changed.. a 200 mile range.

I hope that in a few years someone will make it possible to upgrade the batteries so that it can have more range.. I thought that was the piont of a car like this.. you can at least upgrade the batteries to have a forever-ish car.

I talked to another dealer in the area and they have put the offer up to $8000 off. so with sales tax and fees, other dealer money.. the lease balance of $16,426 comes to just under $10,000 on the road, out the door cost.

 

[sonnylax]

Is the $8k off the residual owed?????

 

[Iubball]

Received buy out offers from three dealerships. Two of them started off with $6k off, and the third was about $5500 off. First dealership then went down to $6400 off.

With that said, considering new lease. A ton of 2016 Leafs still in stock, and deals to be had. Getting offers of about $4500 better than the lease deals listed on the Nissan website. (I.e. The same monthly payment shown on the website, but without the $1999 down plus taxes/fees)

 

[DuncanCunningham]

Is the $8k off the residual owed?????

yes.

I went in there today. balance on my lease was $16,426 with 16 months still to go on a 3 yrs lease.

They took $8000 off that, well $7750, they needed to make something off me. So $8000 -minus $250 for the dealer.

Details:
Balance $16,426
Down to $8,676
Dealer fees $319
Utah Sales $616
Reg fee $72
other state fee $160
Total out the door $9,843

I've paid in a total of $7,350-ish in lease payments so far, so I have paid a total (on the road) of $17,193 and owned it from new.

Not bad for owning it from new. Still a lot of money to me but better than the $24,000+ I was going to have to pay had all the numbers stayed as they were on all the original paperwork.

So, what have I learned? Not all dealers will treat you the same. The dealer in orange county that someone higher the thread mentioned wouldn't even bother to try and get a buy out price for me, telling me that i had to be within 90 days of the end of the lease. I was 16 months away from it.

I don't know if this guy has a 'Cheat code' to the nissan leaf lease system but he had no trouble doing the work and getting me this deal. I turned up and spent no more than 20 mins picking up the plate and signing papers.

His name is Todd Grace and his number is 801-693-7118.

If you tell him to treat you like he did Duncan, then he'll know what you guys are up to, you don't have to be in the same state but the discount is set by Nissan according to the VIN so have that ready when you contact him. i approached the original dealer but was given promises but never any numbers back. I think this guy is going to have a lot of leafy sales go through shortly if everyone with a good discount on their VIN can have him process them. It might be because it is at the end of the month and he was sweating his bonus? i don't know.

Good luck.

 

[LightningLeaf]

but we did discuss the possibility of a purchase price of 2015 S with QC for $9000. .

They have a 2015 S W/QC for $9,000? I'm interested in that.

Yes, at one point Temecula Nissan dealer did state "the lowest I have seen is $9400".

This is a lease buyout right now.