End of Lease Strategies?

[DuncanCunningham]

It would make sense that the 2014's have the highest discount. A lot of them sold that year meaning that if all leased came back on the market there would be a flood this year of 2014s.

 

[myn2020]

Sorry new to this forum. What is GPO? Thanks.

 

[DuncanCunningham]

Sorry new to this forum. What is GPO? Thanks.

Gross Payoff Option. The figure you pay to buyout the car at anytime during your lease.

 

[myn2020]

Gross Payoff Option. The figure you pay to buyout the car at anytime during your lease.

Thank you.

 

[Dooglas]

Thanks. Good data points! Although I just entered a lease 2 months ago (36 months) for a 2016, I hope to get the same level of discounting when it's due to turn in. My residual is about $10k, making the purchase price about $2k! Although that seems too good to be true even though there'll be 200 mile versions for sale for under 30k come lease turn in.

I suspect that is, in fact, too good to be true. One factor driving buyout discounts is the actual resale value of the vehicle. The actual resale value of a 2013 or 2014 Leaf has been something on the order of $10,000 or more below the residual at end of lease. That will not be true on the 2016s as NMAC has adjusted the residual downward.

 

[LeftieBiker]

Yes, the 2016 Leafs (except maybe the S24) are good buys after leasing because they have leases designed with eventual purchase in mind. The lease payments vary, but the residuals should all be about $12k or less.

 

[CRWscott]

Sorry to interrupt guys, but can we go back to End of Lease Strategies 101? I've tried calling a few dealers here in the Chicago area and gotten nowhere. Whoever I am talking to has no clue what I am asking for. What is the best person to talk to at a dealership and what do I ask them?
I've got a 2015 on 36 months that end in November that I'd love to keep.

Chuck

 

[LeftieBiker]

We should start posting the names of dealerships that are fine to work with, here. The buyouts can apparently be done remotely, so there is no pressing need to have to deal with clueless or greedy local dealers.

 

[Bufordleaf]

Chuck - I too have a 2015 on a 36 month lease (ends in December). Unfortunately NMAC is not offering any buyout incentive currently on our vehicles. They offer an incentive on 24 month leased 2015s and on 36 month leased 2014s, but nothing on 36 month leased 2015s. They change the incentive structure each month, so at this point the best thing you can do is check back here around the first of each month and/or contact your local dealer each month to determine if/when NMAC offers you an incentive.

My assumption is that it may be June or July before they do because that would be the earliest time 36 month leased 2015s would be returned.

 

[DaveinOlyWA]

Residual on mine 2016 S 30 with charge is $9125 which will be pretty close to market value if the pack holds up like the previous 2 did and like the previous two, the first 6400 miles have told me nothing. Some general observations on better temperature performances but nothing other than that.

Either way, I would think due to lower sales early in 2016, I might not get a discount on a buyout at all or maybe something less than $2,000 which would still make it a great deal. Paying full price would have put me at less than $17,500.

But if 2017 sales take off which could be possible due to discounts but not seeming likely due to low production volumes and some concrete statements by Nissan, I could see the value of my LEAF drop more but I expect that won't happen.

What I also expect won't happen is the fed credit being around when my lease comes near due Nov 2019.

Either way, it will be my 4th lease (likely but to purchase this time) and the options appear to be wide open but again, due to pricing it seems initially, there will only be a handful of cars to look at but 2 years is a long way off and the spector of driving two EVs for a period of time to catch that $7500 discount is becoming a very real option.

 

[Aida1974]

Hi All,
Ive got some related questions. Newbie so point me elsewhere if needed

I also do not expect the federal tax credit to exist for much longer, but how much longer? Does anyone have a sense for how long it takes for changes in fed legislation to go into effect? If they nix the tax credit today, what is the earliest the change would be effective?

Relatedly, my lease on a 2014 Leaf ends in April 2017. Nissan offered me a ten month extension to keep the vehicle, with no payments for three of the months. Obviously Nissan wants to get me into a 2018 Leaf ten months from now when it becomes available. I could take the offer, or just extend my existing lease, paying month-to-month, and switch into another vehicle whenever I like (like the Bolt or the Prius Prime, which should become available in my state in 2-3 months). Do I act now, and hope I can get the federal credit again, or wait ten months and hope that the credit still exists? Side question, can a consumer receive the fed credit twice? I got the credit back in 2014.

Thanks,
Aida

 

[Dooglas]

Side question, can a consumer receive the fed credit twice? I got the credit back in 2014.

I don't think anyone can answer your question about the future of the federal EV tax credit in these confused political times. The answer to your question about whether you are currently eligible for the federal tax credit more than once is yes.

 

[LeftieBiker]

Just remember that the credit is "attached" to a given vehicle, not person, and can only be collected when the vehicle is new.

 

[mykalt45]

I'm just patiently waiting to see what the 2015 36-month Leafs get as incentives to buyout. Sad there is nothing right now. Mine is up in September, so looking to see which option works out for me.

 

[DuncanCunningham]

I'm just patiently waiting to see what the 2015 36-month Leafs get as incentives to buyout. Sad there is nothing right now. Mine is up in September, so looking to see which option works out for me.

contact 'Pauafunk' Email Todd Grace [email protected] and look at page 100 of this thread. Maybe in April there is will be a deal for you? It looks like only for 24 mth leases on 2015 but mine was a 2015 on a 36month and I got the deal in Jan/Feb. I forget now.

 

[brianpmcintosh]

Hello to everyone!

I see a lot of you are curious about what you can purchase your Leaf for. I've posted my information before, but it's probably been lost in the thread. So far, I've assisted several Leaf owners across the country in purchasing their Lease. I work for Crown Nissan in Greenville, SC and I have no problem doing this remotely. I can complete the process in as a little as 2-3 days. Please contact me either through email, text, or by phone call. The information that I will need: VIN, color, trim, and length of lease.

Thanks!

Brian McIntosh
Crown Nissan of Greenville
c.803.522.7458
[email protected]

 

[brianpmcintosh]

FYI: Unfortunately, there are currently no options for MY 15 LEAF on a 36 month lease. Only on those for on a 24 month. I've received a few emails with MY 15 owners who are 36 month leases.

 

[mcnizzel]

Hey all I could really use some quick feedback here.

I am quite interested in buying out my leaf lease. I've got a 2013 2 year lease which I extended a year. it is up in a week.
The dealers are slammed at the end of the month here, so I'm not sure I can get the sale completed tomorrow. The buy out offers will change next month I would imagine, hopefully not by much.

what are your thoughts on buying it out this month ( tomorrow) vs. waiting until next month if I can't get it done?
Has Nissan ever backed way off the promotional money available? or gotten rid of it all together? I only considered buying it out this month, so I don't have much history to go on in terms of buyout deals.

any input would be much appreciated.

cheers all!

 

[LeftieBiker]

We never know, and yes, the offer discount can and does drop. Mine dropped by $1200 from February to March, according to a salescreature with whom I corresponded.

 

[GlennD]

I keep getting buyout offers for the 2013 that I turned in to Nisson. It seems the right hand does not talk to the left]. At least the dealer updated their records and I no longer get calls, only mail from Nisson.