Noob working on a lease deal for 13 SV with QC

[brickauto]

Hi everyone, noob here in Ohio trying to get into the EV scene with a Leaf SV with QC package.

Here in Columbus, OH we lack State or City incentives so lease rates are a tad high compared to folks in the west coast :?

See attached images for the lease deal and cost breakdown on the unit I was recommended with, my rough calcs puts the lease at about low $5k/yr @ 12k miles.
Seems high to me, I had targeted about $4k/yr for SV with QC and high $4k/yr for SL, or is that just a pipedream on my end???

Would appreciate any feedback from you guys!

 

[springbank]

Got an SV here in Washington State for about 4800/yr (2 yr.) for !5,000 mi. lease (w/ QC pkg) w/ no money down. Have read of others here that did much better than me for the lease.

 

[Maxvla]

That's far higher than the nationally advertised rates, even considering you have to add tax/tag/registration if you roll that in.

Here are the rates via Nissanusa.com, refer your dealer to these to begin to get some traction, but you can actually do far better than even these if you break down the deal properly.

S Base: $1999 down $199 x 35 = $2988/year
SV Base: $1999 down $249 x 35 = $3571/year
SL Base: $1999 down $299 x 35 = $4155/year

In fact, 2 year leases are cheaper than 3 year leases due to how the tax credit works. The $7500 tax credit pays for roughly 25% of the value of the car. The residual on a SV for 2 years is 62%. You should calculate your lease based on paying the difference between the value of the car minus the tax credit (roughly 75%) minus the residual (62%), or 13%. If your SV has a price of $31,000 for instance, you should be paying $4278 (13.8%) for JUST the car. Add fees, taxes, financing, gap, etc then you have your total. In my state, that would come to about $6000 or $3000 per year.

A 3 year lease with 49% residual results in a total of $10000 or $3333 per year.

 

[RonDawg]

Here in Columbus, OH we lack State or City incentives so lease rates are a tad high compared to folks in the west coast :?

FYI here in California the $2500 CVRP rebate is not figured into the lease either. Only the $7500 Federal tax credit. The CVRP rebate comes as a separate check, and only while the grant has funds. It has run out of cash a few times and is currently either out of money or is about to run dry.

 

[freshleaf]

My first post also and New proud owner of Nissan Leaf.

I made a similar Deal Friday, 2013 SV with Premium pkg. 2yr/12k per year . $299/month, $1000 Down includes first month payment and all other Fees(Tax, Reg, etc...)
I had a Trade In also . They refuse to talk about Car value they just want to know what I like to pay, I told them $249 and they come back with $609 :shock: and we agree on $299.
I would have press them more but they were giving me a decent value for my Trad IN so didnt push further.
Took 1 hr to wrap the Deal..

I was told due to my Credit they have to give me Tier 2/3, with Tier 1 I would have saved more like $25 per month..

Still dont have the exact Numbers because car will be transfer from another Dealership on Monday.
For some reason its hard to find Leaf now and I was told they are flying due to GAS price jump in last month and $7500 Fed Rebate.

Just my Gas savings for next 24 months will be ~$4500 plus $300 of Oil change savings and plus other maintenance work I would have done on my ICE in next 2 yr.
I might end up this Car Free..

 

[brickauto]

Thanks for the replies and through more research in this great forum I am armed with my requirements to negotiate the terms of the lease with multiple dealers.

I plan to negotiate on a SL in Cayenne Red or Ocean Blue, starting with $2k below MSRP and the lowest MF I can push for, 24 months 12k/yr. I'll be ready to close a lease deal at a cost of about $4.5k/yr.

 

[Maxvla]

Seems pretty high for an SL. I would say SL with premium should be $4k/year maximum including everything.

 

[brickauto]

Seems pretty high for an SL. I would say SL with premium should be $4k/year maximum including everything.

Really? :shock:

Using the lease calc spreadsheet, including .00168 MF, 6.75% OH sales tax, dealer fees and TTL, the only way $4k/yr is achievable is a SL with premium package at $28,500 selling price before rebates. I doubt I can persuade any dealer to sell me an SL at that cost without VPP or Loyalty kickbacks, or am I missing something here??

Found another unit in OH that I'm starting negotiations with the dealer:
http://www.cars.com/go/search/detai...field=PRICE&certifiedOnly=false&&aff=national

 

[Maxvla]

Is your tax in OH based on the full value after tax credit or just the lease amount?

Doing calculations for myself based on the residual portion I am responsible for led to 24 payments of $304 or about $3600 per year including everything. I pay 3.25% excise on the post credit amount, not just the lease amount. There may be another small fee I am missing from my equation but it won't change it much. I go in tomorrow to talk to my dealer. We will see what he will agree to.

The residual on a SL 2 year lease is 61%. The tax credit paid for about 24% of the car based on invoice pricing. That leaves about 15% of the car that you are responsible to pay for. Calculate your payments based on that info.

 

[freshleaf]

I think in Ohio they Tax on the Lease amount not the full MSRPP value of the Car,

For example:

Base payment for 36 month lease = $400.
Sales tax on payment at 6.25% = $25
Monthly tax X term / $25 X 36 = $900

$900 in sales tax paid up front. This can be added to the cap cost or paid at lease signing.


In Illinois, sales tax is computed the same way for both purchases and leases of vehicles. It is collected up-front in a lump sum based on the vehicle's bill of sale price. The tax rate varies by county.

You can pay this tax with the amount due at lease signing or you can "finance" (capitalize)it in the lease. If you capitalize it, your lease payment will be higher.

In Chicago, a 1% Home Rule tax may also apply. This tax is added to the county rate.
Also, if you live in the city of Chicago, a 6% use tax is collected on the monthly lease payments, in addition to the amount you already owe to the state. They kill you in Chicago!
No wonder everyone is Leaving IL now...

Sales tax is paid whenever there is a transfer of ownership. So, taxes are paid at the time you begin your lease (transfer of ownership from dealer to leasing company) and then again when you buy the vehicle from the leasing company (transfer from leasing company to you).

 

[brickauto]

Dealer came back with a $309/month + $2000 down out the door on a 2yr/12k lease on a Cayenne Red SL.

Works out to be about $4554 per year, ok I guess for a non-VPP or loyalty discounted car.

 

[brickauto]

So I've settled on a $309/month payment with $2000 down (includes all fees and first payment) for a 24mth, 12k/yr lease. Money factor was 0.00179 (Tier 1).

Car is a Cayenne Red SL w/o Premium, includes floor and cargo mats, splash guards and cargo net. Picking it up this Sat!