End of Lease Strategies?

[DaveinOlyWA]

03/08/17
I got contacted again by the dealer where I leased my 2014 S. Now they offer me 2017 S w QC for $200, 36 months lease, 0 down. Didn't mention mileage allowance yet. I will insist on 45000 miles if I take it. Also, found a new thread here called MY18 program. Offering extension of lease to the end of this year until 2018 model come out, and waive 3 months payments too. I am more confused than before, do not know what to decide. Should I lease a 2017 S w QC for $200 for 3 years than buy out, or buy out my current 2014 now :? :? :? ?

you are confused but buying the 2014 shouldn't even be on the table!

your best options;

** Lease the 2017 if 30 kwh will work for you. I can tell you, it does make a significant amount of difference. if it won't then...

** extend your current lease and wait for the 2018. you will be first in line (or near the front) and get 3 months lease payments waived but then and you MUST get the 2018 or pay back those payments. Problem with this idea is no pricing available yet and even worse since lease terms are month to month with Nissan, you are kinda in limbo.

**I had a chance to purchase my 2013 for cheap and glad I did not take it. 30 kwh may not seem like much but it really increased my usability in several ways. The better fast charge profile is HUGE. Charging at over 40 KW at 75% SOC is WONDERFUL!

 

[mcnizzel]

Where are you getting your info about being obligated to get a 2018 model, or pay back the waived payments?

I was given a completely different answer when I asked about it. And no one has received their paperwork yet.

 

[DuncanCunningham]

i guess I never uploaded it to share.. here we go. Our lease was a 2015 S with a 36 Month lease, 15,000 miles per yr. if we had gone all the way to the end our residual would have been $11,800 or something like that. As it was we were offered a buyout with 14 months still left to go on it. Balance was $16,426. We bought it for $8,426.00 and the rest was removed from the balance on the website a few days later.



at the time the lowest priced 2015 S was at $9800 in the Utah area. I now see some offered for sale for about $9000 to $11,000 and the lowest SV at $11,450.

what was your total out of pocket expense on the LEAF including all payments, down, etc. ?

less than $16,000. We didn't put any money down on the lease at the start. So monthly payments, Inc taxes and fees each month was $351. Not the best deal but we came out ok in the end.

 

[DaveinOlyWA]

Where are you getting your info about being obligated to get a 2018 model, or pay back the waived payments?

I was given a completely different answer when I asked about it. And no one has received their paperwork yet.

doubt me if you want or investigate!

 

[DaveinOlyWA]

i guess I never uploaded it to share.. here we go. Our lease was a 2015 S with a 36 Month lease, 15,000 miles per yr. if we had gone all the way to the end our residual would have been $11,800 or something like that. As it was we were offered a buyout with 14 months still left to go on it. Balance was $16,426. We bought it for $8,426.00 and the rest was removed from the balance on the website a few days later.



at the time the lowest priced 2015 S was at $9800 in the Utah area. I now see some offered for sale for about $9000 to $11,000 and the lowest SV at $11,450.

what was your total out of pocket expense on the LEAF including all payments, down, etc. ?

less than $16,000. We didn't put any money down on the lease at the start. So monthly payments, Inc taxes and fees each month was $351. Not the best deal but we came out ok in the end.

you might not think its a "GREAT" deal until you compare your options.

look at what a gasser for that price range would be. then look at the yearly cost to operate.... it doesn't take long to realize you KILLED IT! :lol:

 

[mcnizzel]

Where are you getting your info about being obligated to get a 2018 model, or pay back the waived payments?

I was given a completely different answer when I asked about it. And no one has received their paperwork yet.

doubt me if you want or investigate!

I'm not doubting you. I only mean to say that I was given different info. than you were apparently, and I think its important we all know the policies of this promotion before we make decisions based on it.

To my knowledge I was the first one to apply for this program in the country, several days before it was announced. I was told the paperwork would come to me in 7-10 business days so I'm assuming none of us has actually seen the paperwork and the fine print, so if reps are giving out different info. to different people I don't see how we can get clear answers until we actually have the document in hand.

Were you told on the phone that you had to buy/lease a 2018 or payback the waived payments? told this by a dealer? NMAC? Leaf customer service? Lease Concierge team?

 

[mcnizzel]

what was your total out of pocket expense on the LEAF including all payments, down, etc. ?

less than $16,000. We didn't put any money down on the lease at the start. So monthly payments, Inc taxes and fees each month was $351. Not the best deal but we came out ok in the end.

you might not think its a "GREAT" deal until you compare your options.

look at what a gasser for that price range would be. then look at the yearly cost to operate.... it doesn't take long to realize you KILLED IT! :lol:

yeah it helps to look at things as a whole. IF I take the buy out offer on the table for me this month, it looks like I'll be at $12,700 all in on a 2013 SL. Not too shabby. Certainly glad I didn't buy it straight up originally.

 

[DaveinOlyWA]

Where are you getting your info about being obligated to get a 2018 model, or pay back the waived payments?

I was given a completely different answer when I asked about it. And no one has received their paperwork yet.

doubt me if you want or investigate!

I'm not doubting you. I only mean to say that I was given different info. than you were apparently, and I think its important we all know the policies of this promotion before we make decisions based on it.

To my knowledge I was the first one to apply for this program in the country, several days before it was announced. I was told the paperwork would come to me in 7-10 business days so I'm assuming none of us has actually seen the paperwork and the fine print, so if reps are giving out different info. to different people I don't see how we can get clear answers until we actually have the document in hand.

Were you told on the phone that you had to buy/lease a 2018 or payback the waived payments? told this by a dealer? NMAC? Leaf customer service? Lease Concierge team?

you are golden then. there is little doubt imm that Nissan will emphasize this point in the paperwork you receive

 

[DuncanCunningham]

looks like I'll be at $12,700 all in on a 2013 SL. Not too shabby. Certainly glad I didn't buy it straight up originally.

We hear all the time.. 'The Nissan Leaf is a $30,000 car and the resale is terrible" but if I look at it this way, I bought it at about $22,000 on a lease and I got discount of a further $8000 making it $16,000 (inc all fees taxes reg) 'on the road'/'out the door'/'all in' the resale is about right. a 3yr old car has a typical value of 40-60% of purchase price.. if we adjust that 'purchase' price to be the one we ended up paying, then it's not so bad. I paid $16,000 for the car and right now they are selling for, or at least listed for, about $9,000.


getting a car with the features we get and have it almost free to run, it's a great thing.

When I first leased the car, i saw a bunch of better deal for everyone else,, like CA and GA and I frowned to myself that I had made a mistake. then I heard about the discounts people were getting to buyout their leases and then newer cars on the market and I felt better. Then I got the deal making all my tears dry up. thank you Nissan. I love the car. only thing that isn't totally amazing is the battery and that is just a part. I hope that someday I can install a battery that can either be lighter or do more range. the things that fail on cars are typically engines and transmissions and all the other stuff around them.

 

[CantonLeaf]

I was also evaluating the "total cost of ownership" as part of considering the lease buyout. Factoring in the $7500 Fed incentive to the lease terms and the $9K buyout incentive from NMAC, my $32K 2014 Leaf SV was pricing out at around $16K. The final no-brainer aspect of this equation (as opposed to leasing a newer 30KW car) was the $5K tax rebate from the state of Georgia received in the first year of leasing, which brought my out of pocket costs down to ~$11K after 3 years and lease buyout.

Based on my daily commute in the first 3 years, and diff between gas costs and electricity, I save about $200 per month in gas purchases. So if I can get 5 years of use out of the car (I expect much more), then net-net this vehicle will have cost me nothing after all savings are factored in. While I contemplate the irrational act of buying a fully loaded Tesla Model S, I can smile knowing the financial gift this fugly little Nissan Leaf has presented me with. It most certainly sold me on the benefits of electric vehicles.

 

[LightningLeaf]

I have to chime in here.

I have a feeling that Nissan is trying everything and anything they can to prevent the market from being flooded with used LEAFs.

There is a lot of cars coming off lease in the next 6-9 months. Look at the sales in mid to late 2014.

 

[LeftieBiker]

I can see a scenario in which I have two Leafs parked here at some point: my 2013, waiting to be sold for $8k after I buy it for $5k or less (there are virtually no used ones for sale here), and a new 2018. Still can't decide between red and blue, or maybe silver...

 

[Pauafunk]

Hi,

My Name is Todd and I helped Duncan and another member on this forum with Nissans lease buyout incentive. I thought I would chime in because there seems to be a little confusion. The thing to note with Nissans GPO lease buyout option is that it is in fact a dealer incentive. Just like the cars and service dealers sell there is usually a profit attached. This is why Leaf owners are getting conflicting numbers when they talk to dealers.

Here are a couple of other facts that maybe useful.

1. The program if offered on a month to month basis just like any other incentive, rebate or financing offer. As of today, Leaf GPO incentive will run through to 3/31/17. Will it run into April? We wont know until April 1st.

2. Dealers will naturally want to profit from the incentive. After all it is a dealer driven promotion.

3. The amount of incentive (savings, discount) is based on the model year of the vehicle and term of the lease.

Hope this helps clarify a few questions.

I have been contacted by a number of folks asking me what their buyout price will be under the GPO incentive. I really do not mind letting you know what the discount is based on your vehicle year and lease structure. I will not however work out a total price unless you intend to buyout the lease as it a rather time consuming process.

Email Todd Grace [email protected]

PLEASE INCLUDE:

Leaf model year and the term of your lease (how many months). I wont need your VIN, account number, miles etc unless you wish for me to ground your lease and start the ownership process.

Regards, Todd Grace Jerry Seiner Nissan

 

[LeftieBiker]

Most of us do understand how the process works. The problem is that dealers aren't being straightforward about it, and my local dealer apparently decided to add in their profit after they gave me a buyout price. All they have to do is make the calculation correctly, not be greedy about how much they want to keep for themselves, and they will get more buyouts. Maybe if Nissan were to fix the dealer's profit at, say, $750 this wouldn't be happening.

 

[Pauafunk]

Hi Lefitebiker, I have to ask if you are a Cannondale fan?

I see your point. I guess the incentive is a bit like buying a new car. I agree that there should be a set margin rather than the gauntlet of paying less than what you could have.

 

[LeftieBiker]

I know nothing of Cannondale. I was just responding to the post suggesting that Leaf lessees don't understand the buyout process. Thanks to this topic, we do.

 

[DuncanCunningham]

I think it's great that Todd has added to this thread. Anyone who has dealt with him knows he not a Time waster or feeding a line. He's a genuine guy taking a different approach to working for a living within the boundaries of a car dealership, I place I've worked in before and didn't like it or know how to be myself in. I give him credit for reaching out. When the dealership model finally breaks and changes he'll be one of those guys ahead of the surf. I do not think he intended to offend but share something we didn't already know which is that not all dealers can work the best deal for you.

 

[LeftieBiker]

I wasn't trying to run Todd down. I was just noting what happened to me, and that we have a pretty good handle on the buyout process here. Actual monthly incentive numbers would help, but individual numbers based on lease terms would also help. maybe it would make more sense that they be posted here, though, to avoid multiple requests for the same numbers? Here's mine.

2013 SV with Premium.

2 year lease originally.

 

[Pauafunk]

I would like to post the actual GPO offer based on model year and term of lease that is issued by Nissan but I cant as this is a dealership based offer and each dealership will operate on a different margin. However I can list what our discount would be after a $500 markup and $319 dealer fee. Crunch the numbers and you'll have the manufacturers discount.

2012 Leaf 36-39 month term $13,381 net discount
2013 Leaf 24 month term $13,381 net discount
2013 Leaf 36-39 month term $7981 net discount
2013 Leaf 48 month term $8481 net discount
2014 Leaf 24 month term $11,181 net discount
2014 36-39 month term $7,581 net discount
2015 24 month term $6,881 net discount

*Quotes valid till 3/31/17. I have noticed that since the program started the amount of discount varies each month. The discount is less in March versus what it was in February on some model years and terms.

2016 model years and above do not qualify nor does the 48 month term on the 2014 model year.

Hope these numbers help!

 

[Phatcat73]

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.