Lease term mileage

[GREENEV]

My local Nissan dealer told my that I have to lease the Leaf for 15,000 miles per year. I want to lease it for 10,000 miles per year.

Is this true?

 

[TomT]

12,000 and 15,000 are what they normally offer...

My local Nissan dealer told my that I have to lease the Leaf for 15,000 miles per year. I want to lease it for 10,000 miles per year.

Is this true?

 

[davewill]

12,000 and 15,000 are what they normally offer...

Yep, I leased mine for 12,000 a year. If I was only planning to drive 10,000 miles a year, I would go ahead and purchase...are you seriously going to turn in such a low mileage car at the end of a three year lease?

 

[TomT]

I went with 15 (it was only a few dollars a month more than 12 on a 4 year lease) and it looks like that will be about right for me. I'm averaging about 14,000 a year so far...

Yep, I leased mine for 12,000 a year. If I was only planning to drive 10,000 miles a year, I would go ahead and purchase...are you seriously going to turn in such a low mileage car at the end of a three year lease?

 

[GREENEV]

The truth of the matter is I only drive about 7500 miles per year.

Does the dealer dictate the lease mileage or is it set by NMAC?

 

[LEAFer]

I am not quite sure on who "dictates" the lease. But I am pretty sure that it's simply a matter of looking up the residual % in a table. And those tables might be published by NMAC (actually NILT). For example, the difference between a 15k & a 12k lease is simply an extra 1% in the residual (higher for the fewer miles). See the spreadsheets here: http://www.mynissanleaf.com/viewtopic.php?f=23&t=1067" onclick="window.open(this.href);return false;

The problem might simply be that those tables only offer a few annual miles categories. But it may help to pursue the issue and ask the dealer to research other annual mileage levels. They can inquire with NILT direct.

 

[DurkaDurka]

My local Nissan dealer told my that I have to lease the Leaf for 15,000 miles per year. I want to lease it for 10,000 miles per year.

Is this true?

If they did offer a 10K mile lease, this would increase the residual and actually lower your payment. The dealers like to do 15K since it decreases the residual (thereby increasing profit through the "rental fee") and I'm sure people getting hit with the overage fee would just be angry about it.

 

[mitch672]

My local Nissan dealer told my that I have to lease the Leaf for 15,000 miles per year. I want to lease it for 10,000 miles per year.

Is this true?

If they did offer a 10K mile lease, this would increase the residual and actually lower your payment. The dealers like to do 15K since it decreases the residual (thereby increasing profit through the "rental fee") and I'm sure people getting hit with the overage fee would just be angry about it.

The "overage fee" is .15/mile POST lease, and .10/mile PRE lease, meaning they penalize you .05 per mile for not getting enough miles for your term.

 

[DurkaDurka]

My local Nissan dealer told my that I have to lease the Leaf for 15,000 miles per year. I want to lease it for 10,000 miles per year.

Is this true?

If they did offer a 10K mile lease, this would increase the residual and actually lower your payment. The dealers like to do 15K since it decreases the residual (thereby increasing profit through the "rental fee") and I'm sure people getting hit with the overage fee would just be angry about it.

The "overage fee" is .15/mile POST lease, and .10/mile PRE lease, meaning they penalize you .05 per mile for not getting enough miles for your term.

Can you explain this more clearly? If I'm reading this correctly, they "charge" $.10/mile by subtracting from the residual. So, a 12K lease residual would be $17,000 and a 15K lease residual would be $17,000 - (3000 x 3years x .10) = $16,100?