End of Lease Strategies?

[Gearscout]

That is amazing and the discount is off what your balance is, typically, but either way you have a great car at a great price. We got $8000 off ours but we didn't put any money down on the way into the lease so our residual was higher and had another 16 months to go on it . For all those on leases and would buy their car at the right price, it's time to call around for deals.

I didn't give them a down payment. For anyone interested, this deal came through my original dealer: Regal Nissan of Roswell, GA.

They've got some very low mileage LEAF's just like mine for $9k to $10k. LEAF's became hugely popular in Atlanta when the state began offering the $5k tax rebate. That's gone now. The tag fee has been hiked to $200. I was told about 40% of lessees are deciding to buy their LEAF's. For anyone wanting to bargain, the price I paid may serve as a guide. I hope it helps!

 

[Bufordleaf]

Bro, I'm pretty sure that's called insurance fraud.

Bro, do you even know wtf you are talking about Bro?

No need to get testy, especially if LeftieBiker is correct and what you did is not fraud. I never claimed to be an attorney, but what you described smelled off to me. Then again, I tend to be risk averse and try to follow a fairly straight and narrow path on such things.

 

[sonnylax]

2015 Leaf S. 8k miles. 12 bars. QC port etc.

My 2 year lease is expiring and the dealers sent me a note saying:

Right now, Nissan is currently offering $7,500 off the purchase price of your 2015 Nissan LEAF. Also for those who purchase their lease vehicle before Feb. 28, 2017 the Doc. Fee ($698) will be waived.

That would cut off 4 payments of $269.

My residual is $11,520

$4,020 for my pristine LEAF?

I just got off the phone with the dealer who explained, yes, that would be the price...but have to add in my remaining 4 payments and pay tax to the State of Georgia. The final guaranteed price, including title, tax etc.:

$5,817.12

Getting warmer....

I poked around the web with a few dealers for email only quotes. After wading through the incompetent dealers that can read basic emails, it appears that Regal's Atlanta dealership competition was around $6000 or $6500 off Residual.

Did Regal give you a break down of the title, tax, etc.? (Can you share that here or via PM?) Hard to compare apples to apples, unless you have all the details.

For those Georgia Leaf leasees rolling off leases in the coming months... I wonder if the buyback deals will get more aggressive. I would guess that many folks rushed to beat the GA EV tax credit expiration on 6/30/15 & the volume of potential lease returns in mid/late 2017 to Nissan is exponential.

 

[slowryd76]

It was $254/month without the premium package. I don't know how NY State is for having 2016 Leafs, but the DC area has a ton of them. With that said, my quotes were mostly in the $280-330 range. I used the dealer that I leased my original Leaf with, and he was straight forward about giving me the best price. He also seemed more familiar about the different rebate and cash back options than most of the other dealers. I had to tell more than one dealer what programs I qualified for that they weren't even aware of.

Did you have to put much pressure on the dealer for that price? Or does the DC area just have a lot more incentives for dealers? In Texas, I'm getting lease quotes like this for a 2016 SL with premium package:

"36 Months 12k miles a year 590-595. OR 2000 down plus first payment 36 Months 12k miles a year 550-560"

I'm new to the forum, but this quote seems absurd to me given the Nissan rebates and federal tax incentive that the leasing company gets on the deal.

 

[DuncanCunningham]

I'm amazing that others are not being told the honest discount on offer from Nissan. It seems that dealers are pocketing the difference. My offer was for a 3 yr lease that had 16 more months to go on a 2015 S.

We got the $8000 discount and the dealer got his commission on the finance and fees and $250 from the top (so discount was really $7,750) plus anything else dealers get for making their sales for the month.

You do not need to be in the same state as the dealer, you just need to give them your vin.. lookup the pages until you see my deal..

go guys, get the best for you.. don't just settle for the dealer's first answer.

 

[kubel]

Someone scratched my front bumper recently and insurance paid me $800. I cashed the check and was going to fix the car before returning it but I won't do that now that I am keeping it. Even sweeter.

Bro, I'm pretty sure that's called insurance fraud.

It's called cashing out and it's totally legal. It's only fraud if you attempt to make another claim for the same damage.

It's common in the auto insurance world, but in home insurance where many claims are hazards or can result in future liability, underwriters may insist that the home be inspected following a claim to ensure it's been repaired, or else they may cancel the policy.

 

[Oils4AsphaultOnly]

It was $254/month without the premium package. I don't know how NY State is for having 2016 Leafs, but the DC area has a ton of them. With that said, my quotes were mostly in the $280-330 range. I used the dealer that I leased my original Leaf with, and he was straight forward about giving me the best price. He also seemed more familiar about the different rebate and cash back options than most of the other dealers. I had to tell more than one dealer what programs I qualified for that they weren't even aware of.

Did you have to put much pressure on the dealer for that price? Or does the DC area just have a lot more incentives for dealers? In Texas, I'm getting lease quotes like this for a 2016 SL with premium package:

"36 Months 12k miles a year 590-595. OR 2000 down plus first payment 36 Months 12k miles a year 550-560"

I'm new to the forum, but this quote seems absurd to me given the Nissan rebates and federal tax incentive that the leasing company gets on the deal.

That's just too much. Check out what others have been getting: http://mynissanleaf.com/viewtopic.php?f=6&t=1114&start=820

 

[DaveinOlyWA]

Someone scratched my front bumper recently and insurance paid me $800. I cashed the check and was going to fix the car before returning it but I won't do that now that I am keeping it. Even sweeter.

Bro, I'm pretty sure that's called insurance fraud.

LOL!! its up to you what you do with the money!

 

[Gearscout]

Sonnylax asked:

Did Regal give you a break down of the title, tax, etc.? (Can you share that here or via PM?) Hard to compare apples to apples, unless you have all the details.

For those Georgia Leaf leasees rolling off leases in the coming months... I wonder if the buyback deals will get more aggressive. I would guess that many folks rushed to beat the GA EV tax credit expiration on 6/30/15 & the volume of potential lease returns in mid/late 2017 to Nissan is exponential.

Regal did give me a detailed run down of each and every cost...down to the penny. It was on the telephone and I didn't write the detailed list. Honestly, I only paid attention to the big items:

$1076 balance of 4 more lease payments
Around $700 for tax, etc.

$5820 Out the Door Cost to purchase my 2015 Leaf S. With only 8k miles on it.

CONDITION: You have to buy the car by the end of February 2017.

I can tell you this dealership is pretty swamped with people who are taking advantage of it. There was a huge surge in 2015 and I was a part of that in the month before the $5k Georgia State Tax Rebate was ended. They ran a Memorial Day sale and I literally drove to the dealership in the rain that night to get a new leased LEAF at a lower lease price. ($269 for 24 months...including TAVT) I remember trying to bargain and even better deal and the sales manager telling me "Look, you're already getting a car that's almost FREE!"

My impression is that this discount is coming to the dealers to pass along as they see fit. Maybe it's more than the stated $7500 quoted by the dealer, but I can't imagine it's much more. Maybe there will be better deals in the months ahead, but I'm pretty satisfied with what's being offered today.

 

[AlanSqB]

Well shucks. I guess there are no deals on lease buyouts for 2015s on 36 month leases.

Hi Alan,

I just got the information about the Leaf lease buyout program for February. Unfortunately The program does not apply for a 36 month lease on a 2015 Leaf. Let me know if can provide any additional information and I will let you know if anything changes on my end.


Carl Unger
Nissan Sales/ Lease Specialist
Tynan’s Nissan
5811 S. College Ave.
Fort Collins, Co 80525

 

[DuncanCunningham]

I just bought out mine. 2015S on 36 month lease, had 16 months left to go, got $7750 discount off balance. Roll up this thread to see details.. about page 81, I think.

 

[Katera]

2015 Sl top of the line. 3 year lease leased oct 2014. No option was spared. $15,500 residual up in Oct 2017. Only 15k miles on it, 12 bars.

Would love to buy the car, but will only do so for a GREAT deal. The bolt looks great...will start sending out the emails. Glad I found this board!

 

[LeftieBiker]

Would it help to tell you that you should be able to buy your Leaf for less than what you'd pay over 3 years for a Bolt lease?

 

[Katera]

I'm hoping I can! It just seems that "your milage may vary" really applies here. With my car only getting about 95 miles a charge, it is no competition for a Bolt, and the last time I called nissan lease about 6 months ago they said....full price. No discount for buying. Will start emailing dealers next week as suggested here. Will continue to update. /fingers crossed as we really do like the car.

 

[AlanSqB]

I just bought out mine. 2015S on 36 month lease, had 16 months left to go, got $7750 discount off balance. Roll up this thread to see details.. about page 81, I think.

Yes, I think I'm getting jerked around by this dealer :evil: . However, I really don't want to play the dealer games to get a fair deal. My residual is going to be right under $14k and I'm trying to decide if the car is going to be worth $7k for me to fight with them.

My answer today is that the car is going back and NMAC can deal with it. I have a feeling that they should get more aggressive with the offers closer to my EoL in July. By then we should have some really good info on Model 3 and whatever Nissan has coming up next. LEAF prices will probably fall through the floor as the current series LEAF will be relegated to the NEV category compared to the new generation of EVs.

 

[DuncanCunningham]

I just bought out mine. 2015S on 36 month lease, had 16 months left to go, got $7750 discount off balance. Roll up this thread to see details.. about page 81, I think.

Yes, I think I'm getting jerked around by this dealer :evil: . However, I really don't want to play the dealer games to get a fair deal. My residual is going to be right under $14k and I'm trying to decide if the car is going to be worth $7k for me to fight with them.

My answer today is that the car is going back and NMAC can deal with it. I have a feeling that they should get more aggressive with the offers closer to my EoL in July. By then we should have some really good info on Model 3 and whatever Nissan has coming up next. LEAF prices will probably fall through the floor as the current series LEAF will be relegated to the NEV category compared to the new generation of EVs.

I didn't have to fight with any of them. I was told that I couldn't get any discount from 1 dealer, $5000 off from another and the full discount from the one I chose. $8624 for a 2015 S seemed OK to us since the car is all we need. I think the Tesla 3 would be nice but out of our reach and the bolt is on a slow rollout with no news of it coming to Utah dealers. Nissan's latest will no doubt be at a premium too and I think Nissan might learn their lesson this time with numbers but I could be wrong, they seem to be reacting rather than proactive.

 

[Bufordleaf]

I have 9 months left on my 36 month lease on a 2015 S with QC and on a whim visited my dealer today just to see what they would offer me to buy it out. The residual is $12,500 and my current mileage is 24k. They ran a few numbers "in the back" which reminded me why I can't stand dealers, then came out and offered me $7k off my residual just like that. Of course I would have to pay the remaining balance on the lease but I'm going to pay that no matter. So I told them thanks I would think about it and walked out. Before I could back out of my spot the salesman, his manager, and the finance manager came running (literally) into the parking lot to talk to me. It was basically the "let's make a deal today" speech which I politely declined and told them I might be back at a later date.

I say all that to say this; it's a buyers market out there folks. If the relatively short range works for you, you can get a smokin deal right now on a lease buyout. I'm thinking I can get at least another thousand bucks out of them and may very well pull the trigger before the end of the month.

 

[DaveinOlyWA]

Good deal Buford! looking like the deals are hitting 3 year leases more than 2 year leases. On trying to get a buyout quote on a 2 year lease with nearly half the lease left, the results have been poor at best. If I was on a two year with low monthly, I would go for an extension. This seems to be where the best results are coming from

Some are getting a month or two free with this and getting getting discounts on the residual when nearing the 3 year mark.

 

[DuncanCunningham]

remember to understand the difference between 'balance' and 'end of lease residual'

At the time I was first offered a $5000 discount my;
EOL Residual was $11,888 but had 16 months still to go.
The balance was $16.426.

The discount is on the balance not the EOL residual. you stop all lease payments and pay the balance minus the discount plus fees and taxes and registration like you would any car.

In the end I got a $7750 off the balance making my 2015S a price of $8.624 + taxes, fees reg, title etc etc.

maybe you guys already knew this just making sure the terminology isn't making people confused, because I was. but I'm easily confused but I work hard to understand things and sometimes I figure it out.

 

[Bufordleaf]

That's a great point Duncan, I'm definitely no lease expert so I appreciate the wisdom. I had assumed the discount offered was off my $12,500 residual and that the remaining lease payments of (9 x $242) $2178 were non-negotiable (either I pay them now to buy out or pay them over time as the lease contract stipulates). So really they offered me $7k off the balance of $14,678 ($2178 of which I am on the hook for anyway).