End of Lease Strategies?

[sonnylax]

Can any of the Georgia folks who took advantage of the recent buyback (residual reduction), please post their details on additional "out the door" fees (i.e. tax, tag, title)?

I'm assuming it's something like:
1. Ad Velorum Tax (on used Leaf)
2. Title
3. Tag (DMV)

Also, can someone explain why are you paying the TAG fee again, prior to your 2017 birthday?

 

[Joe6pack]

Sonny, I don't have my paperwork in front of me, but here is what I remember. I can't recall the tax, but it is based on the value of the car according to the state. I am not sure there is much you can do about this. The dealer charged a dealer doc fee of around $699 if I recall correctly. You may want to check with other dealers, but I think this is standard. The tag was around $20. The big ripoff is the $200 EV fee. I had just paid it on my birthday and thought surely I wouldn't have to pay it again. Nope. I had to pay it again. It is triggered by the change in ownership. All in, my buyout went from $4500 to around $6,000.

 

[sonnylax]

You are right... Doc fees are a complete rip.

Looking for the state mandated fees. I would also like to know the percentage of the Ad Valerum/Sales Tax. I assuming it's a percentage of the sale price of the used vehicle.

Thanks!

 

[tmoney47]

In addition to my reduced starting price I paid
1) Tax - $684.25
2) Title & Tag - $39

That is it.

 

[tmoney47]

You are right... Doc fees are a complete rip.

Looking for the state mandated fees. I would also like to know the percentage of the Ad Valerum/Sales Tax. I assuming it's a percentage of the sale price of the used vehicle.

Thanks!

It is a percentage, but apparently it is based on the average of retail and wholesale values. Currently the rate is 7% and my VIN had value of $9,775 according to the calculator below.

You can put your VIN in here --> https://onlinemvd.dor.ga.gov/tap/Option1.aspx

 

[sonnylax]

In addition to my reduced starting price I paid
1) Tax - $684.25
2) Title & Tag - $39

That is it.

Where is the $200 annual EV fee from Georgia DMV?

 

[DuncanCunningham]

Those of you in Georgia need to start your own thread called 'State of Georgia - End of Lease Strategies'.

its seems you have other things to tackle other than the part of where you deal with the end of your lease through Nissan.

It appears as though the gravity train there has changed.

 

[tmoney47]

In addition to my reduced starting price I paid
1) Tax - $684.25
2) Title & Tag - $39

That is it.

Where is the $200 annual EV fee from Georgia DMV?

Not sure which one of these would be the reason, but I had already paid it in January for a Feb birthday before this whole thing started.

Also, my tag and registration will be somewhat continuous.

It was not on my bill of sale, so that was my perspective.

 

[sonnylax]

I agree with you, I don't think it should be on the bill of sale either. But others were reporting that it was.

If you have already paid that $200 EV fee to your County Tag Agent office as part of your annual car/tag registration, I'm not sure why the dealers would try to collect that again...

So you paid that fee last month (Jan 2017) prior to your Feb 2017 birthday? And then bought your leased Leaf also in Feb 2017? Maybe it's a calendar year thing?!?!

 

[EricAUB]

From my viewpoint Nissan is taking a hit on the manufacture of the leaf. The value of the vehicle is low as they depreciate fast. Mostly because the fast pace of technology and competition. In early May, my 2-year lease will expire. I leased this car in Puyallup Washington State. Now my wife has it in Tucson Arizona. Rumor has it that after auction, most Leafs are shipped to Norway. The car is just worth more in Norway. So, if I was NMAC, I would have a program where returning owners could drop the car off at a port like Tacoma or LAX.

 

[redleafusa]

Thanks to everyone sharing their end of lease purchase experience. Great info.

I was curious about incentives here (IN) and contacted the dealer we bought the car from. I talked to the salesman who leased us the car in '15 (36 months). He was pretty clueless and said to contact Nissan. I went online to NMAC site and logged in and had a chat with Nissan rep. who said to contact dealer finance, who "take care of incentives now." Talked to dealer finance person and he told me the payoff, which I already knew from NMAC website, and said any incentives are between Nissan and me. WOW.

Looking at current ave. wholesale values for used 3 and 2 year old Nissan Leaf S models, I get $5,425 for '14 and $6,850 for '15, assuming about 8K miles per year. Anecdotally, a friend of ours recently purchased a '15 Leaf off 2 yr. lease (24K miles) with quick charge for $9K retail.

Our payoff is app. $14.7K and residual is $11.6K. I would have to be offered at least $7K to make it worthwhile today, based on the increasing depreciation rate between 2 and 3 year old Leaf models.

If no offer comes to us from the dealer, or is shown on the NMAC website's payoff amount before April '18, I will make an offer to purchase the Leaf for ave. wholesale value before turning it in. It must cost Nissan at least $500 in fees to both transport the car to auction and sell it for wholesale value.

We really like the car, but can just as well buy a used one for $6K-$8K next year if Nissan won't budge.

 

[DuncanCunningham]

Hi redleafusa

You will not see a discount on the website. You have to go through a dealer. Call each dealer in your state (you don't even need to go through one in your state, just makes it easier processing the sales taxes and plates) until you get one that isn't stupid. They will run the VIN through their system and get a price they can sell it to you for. My dealer told me $8000 off (the currently balance of the lease) and took $250 from that for themselves, plus fees etc. Another dealer told me $5000 so he was trying to pocket $3000 for himself. We ended up getting our 2015 S for $8624.

I have details further back in this thread.. i think pages 82 onward

 

[DCEVGirl]

First time poster here. Hello all. I have been thoroughly reading this thread in anticipation of returning my lease this month. Thanks to all that have contributed to this thread. I would love to get some opinions on my buyout quote in addition to thoughts on buying out all together or getting new car due to depreciation. I thought I wanted the Bolt but the lease options don't seem to be very attractive. After seeing how expensive the Bolt leases are, I am having second thoughts. I'd rather wait for few years to get a long range EV. I am not in any rush and am leaning towards buying the Leaf to have as a commuter car.

2013 SL White PP with 40k miles
All bars remaining
Leased Aug 2013 for 24 months $1000 down $265/mo (no tax in my state)
Renewed Aug 2015 for 12 months with 2 month credit from NMAC
Renewed Aug 2016 for 6 months (to wait for Bolt)
Total months leased: 42 (40 after credit from NMAC)
Buyout offer:
$5604
+$300 buyout fee
+$299 processing fee
no sales tax
OTD: $6,203 (not sure of the title fees yet)

 

[redleafusa]

DuncanCunningham,

We are in a small market with only one local Nissan dealer and very, very few EVs on the road. The closest big market for EVs is either Indy or Nashville, TN. Do you think these incentives are only available through dealers in your state of residence? Thanks.

 

[redleafusa]

DuncanCunningham,

We are in a small market with only one local Nissan dealer and very, very few EVs on the road. The closest big market for EVs is either Indy or Nashville, TN. Do you think these incentives are only available through dealers in your state of residence? Thanks.

Edit- you answered my question! Too quick.

 

[LeftieBiker]

First time poster here. Hello all. I have been thoroughly reading this thread in anticipation of returning my lease this month. Thanks to all that have contributed to this thread. I would love to get some opinions on my buyout quote in addition to thoughts on buying out all together or getting new car due to depreciation. I thought I wanted the Bolt but the lease options don't seem to be very attractive. After seeing how expensive the Bolt leases are, I am having second thoughts. I'd rather wait for few years to get a long range EV. I am not in any rush and am leaning towards buying the Leaf to have as a commuter car.

2013 SL White PP with 40k miles
All bars remaining
Leased Aug 2013 for 24 months $1000 down $265/mo (no tax in my state)
Renewed Aug 2015 for 12 months with 2 month credit from NMAC
Renewed Aug 2016 for 6 months (to wait for Bolt)
Total months leased: 42 (40 after credit from NMAC)
Buyout offer:
$5604
+$300 buyout fee
+$299 processing fee
no sales tax
OTD: $6,203 (not sure of the title fees yet)

As long as the car will serve your needs well with 20% less range than it has now, buying it sounds like a good deal. If you need almost all the range it has now, consider leasing a 2016 Leaf as a way to get to inexpensive 200 mile EVs in two or three years.

 

[DuncanCunningham]

First time poster here......

Buyout offer:
$5604
+$300 buyout fee
+$299 processing fee
no sales tax
OTD: $6,203 (not sure of the title fees yet)

That appears good to me. try at least a couple of dealers to see if the discount off the balance can give you more back but i doubt there are many 2013 in the area less and you've owned it the whole time too.

 

[DCEVGirl]

Ok so I got more numbers. The buyout amount is $16,629 and the inventive amount is $11,025. That seems really good. Wonder if NMAC is now offering $12k and the dealer is keeping the difference. Anyone get an incentive of $11k on a 2013?

 

[DuncanCunningham]

Ok so I got more numbers. The buyout amount is $16,629 and the inventive amount is $11,025. That seems really good. Wonder if NMAC is now offering $12k and the dealer is keeping the difference. Anyone get an incentive of $11k on a 2013?

ha ha ha, I think you get the award for the highest off lease discount from balance, though the balance is very high but I guess that is how those leases ran back then for the 2013 cars. Good one.

We calculated what we had paid into the lease payments and buying the car out earlier and it was about $15,700, so we were happy with that.

there is always someone getting a better deal than you. i think you have a good price for a 2013 car.

 

[ObiQuiet]

OTD: $6,203 (not sure of the title fees yet)

Your numbers are very close to what I paid for my 2013SL lease buy out too. Your car has more bars (1) and more miles (7k) than mine.

The incentive was quoted at $13k, FWIW.