Has anyone been offered this by their selling dealer.......

[Flyct]

Those interested in leasing but not buying a car really only need to worry about the total cost of the lease (DP plus sum of payments, plus all fees), putting down only as much as they are willing to lose if the car is totaled. Dealers will compete by, if possible, moving costs into the residual - and that's fine if you want a new car in two or three years.

Leasing a Leaf or any other car makes good sense for some but not for others.

My preference is to buy, especially with a Leaf because of the federal tax credits. When leasing the lease company gets the tax credit and will normally apply some or all of it to discount the car. When I was recently buying the lease offers only passed on $4,000 additional discount and dealers were pocketing additional $3,500 in profit. They were really pushing the lease deals.

I just counted car purchases and my recent Leaf purchase was my 63rd new car purchase since 1970 and my 14th new car purchase in just the last 6 years.

The last 6 years it includes 1 Lexus, 4 Leafs, 9 Fords. One truck was lemon Lawed and leaf was totaled. I still have the Lexus, 2 Ford trucks and the 2020 Leaf. The great thing is everything is paid for. It wasn’t always like this.

As I said, it wasn’t always like this. Here is a paycheck for my first job after discharge from the service. I was working at a drive in theater selling tickets in the booth one day a week and had gone back full time to college at that time. Notice the $5.50 weekly pay, $5 in credit union and only 21 cents take home pay. It was a good job because I could do my homework in a well lit air conditioned booth while my wife worked night shift as a RN. We had a new car even then, 1970 Dodge Dart. . I bought it with money I saved while in South East Asia.

 

[LeftieBiker]

I never leased either before my 2013 Leaf. The Federal tax credit is the real game changer there. With the exception of the 1986 Civic Si that I bought new and then kept for 23 years, I always drove used cars - often ratty old used cars, like the Celica GTS I drove as a Winter Rat one year, or the several Mazda 323s/Mercury Tracers that were great cars except for the tiny oil passages in the heads that destroyed their hydraulic lifters. When my housemate was looking for a car in 2010, though, I persuaded her to lease a Prius II, and that made me open to leasing a Leaf in 2013. Ironically, because I now only want to drive EVs, and because the tech ages so rapidly, leasing is all I now do...

 

[SageBrush]

You don’t start from MSRP.
MSRP is ONLY used to calculate residual dollar value at end of lease. Lease residual % is always calculated from MSRP
Cap cost is what you are paying for the car (MSRP - Discount)
Money factor is interest you are paying. Multiply money factor but 2,400 to get interest rate.

I believe currently Nissan charges a $650 acquisition fee on all their leases. That fee is paid at lease inception.
I believe Nissan charges a $300 disposition (turn-in) fee at lease termination. You get charged that when you turn in the car.

For example. From a Nissan site today a 36 month lease on a 2021 Leaf S
$32,545 MSRP
$21,568 cap cost
$14,645 residual (45% of MSRP)
$650 non refundable acquisition fee
They don’t post the money factor but if you ask they must disclose it.

$2,995 at lease inception ($2,760 down payment plus $239 first lease payment)
$239/month lease payment
25 cents per mile over 10000 miles a year.

Got it -- thanks.

Google says that 'cap cost' is the amount financed. So it includes what you are paying for the car, and it also includes discounts, tax credits, and financed fees and taxes. In the example you posted I note that
MSRP
600
(2,995)
(7,500)
--------
= $22,650

I infer then that (presuming competitive finance rates) the lease is ~ $1,000 dealer/manufacturer discount off the MSRP. Do you agree ?

 

[Flyct]

You don’t start from MSRP.
MSRP is ONLY used to calculate residual dollar value at end of lease. Lease residual % is always calculated from MSRP
Cap cost is what you are paying for the car (MSRP - Discount)
Money factor is interest you are paying. Multiply money factor but 2,400 to get interest rate.

I believe currently Nissan charges a $650 acquisition fee on all their leases. That fee is paid at lease inception.
I believe Nissan charges a $300 disposition (turn-in) fee at lease termination. You get charged that when you turn in the car.

For example. From a Nissan site today a 36 month lease on a 2021 Leaf S
$32,545 MSRP
$21,568 cap cost
$14,645 residual (45% of MSRP)
$650 non refundable acquisition fee
They don’t post the money factor but if you ask they must disclose it.

$2,995 at lease inception ($2,760 down payment plus $239 first lease payment)
$239/month lease payment
25 cents per mile over 10000 miles a year.

Got it -- thanks.

Google says that 'cap cost' is the amount financed. So it includes what you are paying for the car, and it also includes discounts, tax credits, and financed fees and taxes. In the example you posted I note that
MSRP
600
(2,995)
(7,500)
--------
= $22,650

I infer then that (presuming competitive finance rates) the lease is ~ $1,000 dealer/manufacturer discount off the MSRP. Do you agree ?

Not really.

Cap cost is the the lease cost of the car, not the amount financed
The amount financed is cap cost minus cap cost reduction (down payment). Money “due at signing” includes cap cost reduction and acquisition fees. So nit all the money up front goes to reduction.
Taxes on a lease are normally paid on each lease payment, not included in amount financed

In the example I pointed to from Nissan lease deal it appears that cap cost was reduced $7500 tax credit, and $3,477 discount. That’s not much of a discount being that Nissan is offering at least $6,000 in rebates for a purchased leaf now.

When I bought my SL Plus 2 months ago I got $6,500 in rebates and $4 ,800 in dealer discount. Then I get $7,500 fed tax credit. That essentially reduces the cost from a MSRP by $18,899, MSRP $45,395-$18,800=$26,595. Of course there are other dealer fees etc that need to be considered. Plus sales tax is calculated before any rebates. Rebates are treated like additional down payments.

Bottom line, leasing makes sense in some situations and buying makes sense in others. I enjoy the negotiation part. It’s like a hobby for me.

 

[DaveinOlyWA]

I initially received an email from the Business Manager of the dealer I leased my 2018 Leaf SL from.

I have 21,650 miles on the car and my lease expires this September 2021. (3 year lease).

I was offered 2 options now: 1. Turn the car in, lease another car, remaining lease payments cancelled, not wrapped into new lease, and begin new lease on New Nissan car.

2, Due to the age and especially low mileage of the car, I could drop the car off now, and the remaining payments are cancelled, do not have to lease another car, just walk away, and lease/buy whatever car I want.

I have heard of the first option, but not the second. They must really want my low mileage car on their lot.

Anyone familiar with this?

The 2nd option isn't an option.

I took the first option and glad I did. Turned in the 40 with 16 payments left @ $381 a month, got a Plus @ 380 a month. Basically it was $5,000 to add more than 1/3rd range. The power means nothing to me (kinda scary actually with OEM tires) so yeah, glad I did it.

 

[DaveinOlyWA]

Doug
Not sure I understand your questions. Current car I pay $439 per month for the 36 month lease, put no money down.
I have not gone ahead with any deal from dealer at this point.
In fact I am leaning towards turning the car in, walking away, and leasing another manufactures EV.

You are responsible for the remainder of the lease. Make no mistake about that.

 

[DaveinOlyWA]

I double checked with the dealer before making a trip to the dealer and they pulled a bait and switch.
I thought that the deal to buy me out of my lease, and walk away was too good to be true. The Bus. Mgr told me today it is up to the sales mgr if he wants to buy the car, and he does not, they have plenty of used Leafs on the lot and don’t need anymore.

So I wrote back, I will see you in Sept when the lease is up, the fact is they will see me in Sept but if I decide to lease another Leaf, it will not be with them for pulling this crap, but you cannot be surprised. It is a good thing I did not waste my time going to the dealer, then I would have had to take a 2nd shower today to get off the slime.

:lol: So you are unhappy from not being able to get something for nothing? How long did you wait on this offer? You know it is possible that others simply took the deal quickly making the dealer statement...valid.