End of Lease Strategies?

[TheRedFlash]

Hi folks, wanted to drop in and give an update on my MY2015 Leaf S w/o QC lease buyout. Lease date was September 2014, $2000 down and 199/month for 36mo. with 12k miles/year in Tennessee.

I have 7 mo. left on the lease and I initiated a buyout request with Crown Nissan in Greenville, SC (currently live in Asheville, NC). My residual was $11,300 and my buyout (according to Nissan Financial) was $13,500. The buyout offer I received from Crown Nissan was $7460 OTD (tax, reg, fees, everything) so I took it. NADA retail on it is $10,500 (w/ 19k miles).

I requested buyout offers from two Nissan dealers in NC, Fred Anderson Nissan and Hendersonville Nissan and both quoted me the buyout price of $13,500 from my Nissan Financial portal. I saw a FaceBook post from the Blue Ridge EV Club from a gentleman who got a similar fantastic lease buyout offer for his 2014 SL so that is how I found out about the Crown Nissan discounts. I worked with the internet manager, his name is Brian and he said that he can work with anyone from around the country if you are interested in getting a buyout offer from them. Apparently they're one of the highest volume Nissan dealers in SC and Nissan is giving them some incentives for Leaf buyouts that are not available in surrounding states.

 

[DaveinOlyWA]

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.

that is a bit of a leap. sure eventually she will get to a 20% loss but after 3 years, I am guessing she already know that but she is not there yet!

 

[DaveinOlyWA]

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?

you killed it! that is a better deal than I was offered!

 

[ramyond]

I just bought out my lease on a 2014 Leaf S with Quick Charge Port.
Details-
Original Cost 29,228
Residual 13,512.75
$500 Down
36 month lease 278.68/mo including tax
$2500 Rebate Check from CA

Car due back April 30th 2017
Remaining payments $836.04 plus lease return fees.

Payoff as of today was 14,239

They offered it to me for 9239 ($5,000 discount from NMAC)

I countered with $7,000

Settled on $7439.27
Total with Tax,Title, etc was $8,296.01

Unless i am doing the math wrong my all in cost for the car was

$500 Down
33 payments 278.68 = $9196.44
Purchase total = $8296.01
Total $17,992.45
less $2500 CA rebate

Total cost = $15,492.45

I did it at Orange Coast Nissan in Costa Mesa.
They said they can work out a deal regardless of where you purchased but discount is determined by the VIN number.
I worked with Gabriel Lara 714-444-4220 x 8303 or [email protected]

Bottom line is EV's are going to keep getting better range, but if the 90 mile range works for you, there are deals to be had

I emailed him and got a similar deal. $6998 + tax for my 2014 S. Lease ends 4/30/2017. Today is 1/31 so I will be skipping the next 3 payments of $257. Great deal. I only have 28600 miles on the car.

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.

Thanks to this post, I was able to negotiate my recent leaf lease buyout as well!
Below are my cost break down:
Original lease:

$28975
$0 down
36 payments(15K miles/year) $288
2500 rebate check
$12500 residual

Buyout lease:
$12500+3 months and some+dealer fee(<$200?)=$13597
discount (incentive) $7K
$6597
$6597+tax ($517)+dealer fee (<$150)= $7238

total lease payments (33 months) $9504
+$7238
- 2500 rebate

Even with approximately $400 of dealership fees, this car cost me $14,242 now that I purchased it.

 

[sonnylax]

I believe the Nissan Finance incentive is $8k (not $7k)....

 

[DuncanCunningham]

I believe the Nissan Finance incentive is $8k (not $7k)....

The dealer has to run the VIN through the nissan system to get the discount but for me.. the 1st dealer I spoke to was saying that it was $5000 and another told me it was $8000, so the 1st dealer was trying to pocket an additional $3000 for themselves.

 

[jlv]

And I was just told yesterday that I could get $7K off my lease buy out.... and until I just read the last few comment I thought that was great. My residual is $15500 so it does bring the price to my buy range.

 

[DNAinaGoodWay]

Are they still offering two months free if you extend a lease for a year?

 

[yulin7839]

Hi all, I wanted to buy out my 2013 Leaf S w/ QC early this year. But, the best offer I got was $4500 off. It's way lower than the discount posted here. So, I started shopping around to lease another leaf. I got an offer from one of the bay area dealers for 2017 Leaf S w/ QC, $2500 drive off and $115 per month with tax included. I know this may not be the best offer on the market. But, I'm going to take it as I'm not good at negotiating prices with dealers. Especially if I get the CA rebate back, the total payment is about $115*35 for 3 years, which is not bad deal.

I'm going to return my old Leaf and pick up the new lease this afternoon. Any last minute warnings or suggestions? Thanks.

 

[DNAinaGoodWay]

Sounds like a good deal to me. Is that a 30 kWh S?

 

[yulin7839]

Yes, it is.

Sounds like a good deal to me. Is that a 30 kWh S?

 

[ObiQuiet]

And I was just told yesterday that I could get $7K off my lease buy out.... and until I just read the last few comment I thought that was great. My residual is $15500 so it does bring the price to my buy range.

I wonder if the discount is adjusted according to how much you've already paid during the lease. My discount was high, possibly/probably because I had paid a more over the extended lease term.

 

[Phximiev]

2017 Leaf S with Chademo and 30 kWh battery for $19 per month:

http://www.myimiev.com/forum/viewtopic.php?f=5&t=3263&start=30#p31902

And: https://sfbay.craigslist.org/eby/ctd/6001057820.html

 

[Jwedd]

adding to this thread, my 2013 SV w/premium, no QC, 36k miles, is going off lease next month and I'm interested in the buyout.

Residual is $13,905.

Apparently, after quite a bit of back and forth investigation, NMAC is offering $8k incentive on this car. The incentive seems to vary by zip code. The dealer has to log in to find the incentive on any one vehicle.

As many of you have indicated, the dealers will try to make what they can out of this arrangement. Some will pass on the full incentive but then have higher "fees". Others will keep their fees lower, but then not pass on the full amount.

I've decided that I'm willing to pay $7000 OTD. So far, I've had offers of just under $7300 and $7500. I'm hanging tight, it looks like the 24kw version Leaf market is going to tank a bit more in the next year.

John

edit, sounds like Gabriel at Orange Coast (email above) is going to take me up on that offer.

So, to sum up my cost on the car:

35 payments x $294 (tax included)
First payment of $2680
Final purchase of $7000

CA state rebate less $3000
San Joaquin APCD rebate less $2500

My cost: $14,470 (that would include 1st year registration of $319 and purchase price registration (4th year) of $235).

Looks like all the taxes that are also part of that $14,470 : $875 in the first 35 payments, and $517 in the $7000. That's California, taxed all the way multiple times.

 

[Gearscout]

adding to this thread, my 2013 SV w/premium, no QC, 36k miles, is going off lease next month and I'm interested in the buyout.

Residual is $13,905.

I've decided that I'm willing to pay $7000 OTD. So far, I've had offers of just under $7300 and $7500. I'm hanging tight, it looks like the 24kw version Leaf market is going to tank a bit more in the next year.

John

My cost: $14,470 (that would include 1st year registration of $319 and purchase price registration (4th year) of $235).

Looks like all the taxes that are also part of that $14,470 : $875 in the first 35 payments, and $517 in the $7000. That's California, taxed all the way multiple times.

Wouldn't it be better to get a 2015, lower mileage, QC for a little more...right off the lot?

36k is right about where many people lose their first battery bar.

Taxes. Yes, in Georgia you pay twice as well!

 

[Jwedd]

not sure about better....but likely 2 things, more money and less battery risk.

I lost my first bar at about 12,000 miles. I still have 11 bars now at 36k, but it would not surprise me to lose another one shortly.

Everything is like new on the car still. I just rotated the tires, the brakes are barely worn.

I do have thoughts about getting the Chevy Bolt, but I expect in 2 years, the EV options and prices will be much better. I should be able to get $4000 for this car in a couple years, if the battery does not take a dump. If it does, it is still under warranty. So, maybe it costs me $3000 for 2 years, still better than a new lease over that period. Maybe the 2015 over that period would cost about the same $3000? Hard to say which would be better.

Lot of "ifs" and "what-ifs" in every decision, right?

edit: now that I think about it, the price of my car at buyout is $5905. I don't think I can touch a 2015 for less than $9000. So I stlll think it is a better deal over the next 2 years.

 

[Graffi]

I have been following this for a long time, as our lease was up on September 6, 2016. We ended up getting the 6-month extension offered. Since it is up on March 6, we decided to go ahead and purchase it. I called the dealer and they were willing to give us the full $8,000 discount. We completed the purchase last Sunday. The specifics are below:

MY2013 SL
46,685 miles
$13,368.56 Buy out amount
8,000.00 Discount
$ 5,368.56 Sales Price
300.00 Dealer Fee
80.00 Document Processing charge
445.51 CA Sales Tax
29.00 Electronic Vehicle Registration or Transfer Charge
3,500.00 4-year/50,000 mile extended Warranty with $100 co-pay each visit
15.00 Vehicle License Fee
8.00 CA State Emissions Certification Fee
$ 9,746.07 Total Amount Paid

Now you ask, Why did we not just pay $6,246.07 and forget the extended warranty? Well, one of the other sales people who is also a long time Leaf owner told us that if anything goes out on our electronic vehicle over the next 4 years this insurance policy will be paid for. In our case, that means that we are fully covered for this Leaf until it is 7.5 years old and almost 100,000 miles. My wife decided that she did not want to take the risk of paying lots of money on anything breaking so all I could do was say, "Yes Dear."

Now I need to go out and buy two new tires for the front. I did not want to do it if we ended up turning in the Leaf to get another new one with the $500 of excess wear fee waived. I say only two tires, the ones on the front are pretty worn but the back are in pretty good condition. The tire shop would not rotate them the last couple of times they needed to be rotated because they said the best tires should be on the rear. Therefore the front just got further worn down.

I hope this detail above will help some of you. We love our Leaf and plan to keep it for many, many years to come.

 

[LeftieBiker]

I agree on the warranty, but... make sure that you didn't just spend that much on a warranty that, as most do, "begins" when the car was brand new. In that case you'd have a rather expensive one year extended warranty. If you do have to cancel that, try Jim Bone Nissan for a much less expensive, equally good, warranty.

 

[DaveinOlyWA]

Are they still offering two months free if you extend a lease for a year?

no way to know. you simply have to ask because the policy is not uniform

 

[OakLeaf]

We wound up purchasing our 2012SL for $6486.90 today.

It took quite a bit of effort, but was finally able to find a salesperson at one of the area dealerships who knew how to request the discounted Leaf buyout information.

After looking at all the options available (Lease/Buy a new Leaf or Volt - Teslas and the i3 were also considered, but we felt they were too expensive), we concluded that even with a lesser range than the "latest and greatest" models and an aging battery, our 2012 Leaf still had the best value and utility per $ spent for what we need.

What sort of surprised me the most was seeing how reduced the Leaf presence is compared to back in 2012 when we were last looking. Back then, it was common to see 4-6 new Leafs on a lot, but now there is maybe 1-2 new or used, if that.

Typical lease rates quoted for SLs were $2K down, $299/month (includes tax) for 36 months, 12000 miles/year. A basic S was $2K down, $289/month.