Resale value discussion

We've already trade in value thread and a long running "Wholesale value of the 2011 Leaf @Auction". Let's post other resale value discussion here. I remember seeing something recently and FINALLY found it again.

Autoblog: http://www.autoblog.com/2013/06/03/nissan-leaf-resale-value-expected-to-take-a-hit/" onclick="window.open(this.href);return false;

One particular quote stood out:

Meanwhile, early Leaf models are now coming to auction, abandoned by rental car companies after customers shunned them in favor of traditional internal-combustion vehicles. Many of those at auction have less than 10,000 miles and carry an average transaction price of just $13,700.

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I also just found http://insideevs.com/kbb-says-2013-nissan-leaf-resale-value-will-drop-compared-to-2011-and-2012-model/" onclick="window.open(this.href);return false;, not written long ago that points to http://www.autonews.com/apps/pbcs.dll/article?AID=/20130603/RETAIL04/306039947/experts-used-leaf-prices-expected-to-fall" onclick="window.open(this.href);return false;.

The latter also says:

Some rental car companies bought Leafs but quickly sent the EVs to auction after customers shunned them, agree Ibara and Ricky Beggs, managing editor of Black Book.

Over the past six months, Beggs says he has seen many 2011 Leafs cross the auction block with fewer than 10,000 miles, and some with as few as 1,200 miles. Beggs says Black Book data show the average auction price of the 2011 Leaf SV in mid-May at $13,700.

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Two things that lead to major resale value drops:
-2013 price drop
-$7500 tax incentive on new purchases

I think once the tax incentive dries up, the LEAF won't be depreciating all that much relative to a gas car.

^^^
And there are state incentives in many states (e.g. sales tax exemption on EVs in WA, $2500 CA rebate aka CVRP, etc.)

I think it'll be a little while before the Federal tax incentive $ dries up.

cwerdna said:

^^^
And there are state incentives in many states (e.g. sales tax exemption on EVs in WA, $2500 CA rebate aka CVRP, etc.)

I think it'll be a little while before the Federal tax incentive $ dries up.

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Fed tax incentive is for 200000 each manufacturer. If Leaf's adaption curve follows Prius, that's another 4 years.

this makes me wonder what the wholesale resale value of the volt & IMIEV is, too bad the clearing houses are so far away from Wisconsin, I would see if I could get someone with a dealer license to pick one out, too bad the buyers premium goes up and above the blasted resale amount.

Ah well.

Any speculation on how resale value of a 2011 leaf will change in the next 6 months? Getting a Tesla in July, but don't want to have to return part of California rebate, 36 months is March 2014.

silver/30,000 miles/1 bar capacity loss/new tires/no QC/southern california

Nancy

wildcatzoo said:

Any speculation on how resale value of a 2011 leaf will change in the next 6 months? Getting a Tesla in July, but don't want to have to return part of California rebate, 36 months is March 2014.

silver/30,000 miles/1 bar capacity loss/new tires/no QC/southern california

Nancy

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Sorry to be the bearer of bad news but with the price cuts for the new 2013 cars and the poor reputation of the battery's life span, the outlook for the LEAF used car prices is not very good.

I have never been a fan of using auction value to determine resale value. Nobody can buy at auction price unless you are a dealer, and trade in values are determined as much by the negotiation of the new vehicle as anything else. The auction "estimated retail values" from the mnl posts are just that - estimates, and fairly inaccurate ones if the information below is any indication. Finally, buying the same vehicle from the dealer that acquired it at auction will be at a (typically) significantly higher price.

My recommended way of determining real world resale value is eBay Motors auctions. Look at completed listings. This shows what cars sold for, and as importantly, what they did not sell for. As of today, a 2011 LEAF SL with QC port, 15,071 miles sold for $16,997 in a no reserve auction, from a dealer that specializes in no reserve vehicle auctions in Tennessee. A 2011 SV with only 1,500 miles did not sell for its high bid of $17,901. Private sellers can expect to receive less than what a dealer can get. Looking on Autotrader one can see asking prices, but you have no idea what the vehicle sold for (if in fact it sold).

I just sold my 2011 SL with QC with 12,000 miles in 24 months of ownership for $18,000 here in San Diego. We replaced it with a 2013, which we leased due to expected continuing improvements.

Sold my 2011 SL with 33,000 miles to a Dealer in February for 16k.

LEAFguy said:

I just sold my 2011 SL with QC with 12,000 miles in 24 months of ownership for $18,000 here in San Diego. We replaced it with a 2013, which we leased due to expected continuing improvements.

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you received an excellent price for your car, however like you noted one transaction cannot/will not be what determines a used car's value. auction prices, ebay listings and
local market conditions all factor into what a car's value is and any given moment.

I recently received one of those " ... come in we need your car for our used lot ..." from the Nissan dealer in the mail I bought it from, again something to generate some showroom traffic. The 'offer' for our '12 SL was sight unseen 'as much as' ~ $19,500. Here in IL we get a 10% of MSRP cash rebate as the first owner and took the $7,500 Fed Tax Credit so before trade/tax/accessories/fees, etc. I think it was $26,025 so for about a 1 1/2 years of use not too terrible but we're simply not interested as a '13 isn't really all that different (unless the new color, leather seats, etc. is a must have for you). I know this discussion is primarily about '11's but thought would add this in ... once you drive off the lot all of these become used cars. In our mixed climate, 5 day charging at 80% and relatively low miles (a bit under 10K/year) we're still at no battery degradation and it seems to love moderate temps --- pulled a 5.5 miles/kWh the other day on a 30 R/T commute at 4.96 cents/kWh so that's about 27 cents/day? Not bad with $4.49/gal gas around here ... (equivalent even at 50/mpg would be $2.69 for the same daily trip)

"As much as" is the elephant in the room!

redLEAF said:

The 'offer' for our '12 SL was sight unseen 'as much as' ~ $19,500.

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Noticed our local dealer has a used red 2012 SL on the lot (LEAFs are very rare in our area, we've only seen one other one in the wild, our local dealer hasn't had a 2013 yet). I think their price is a bit... ambitious... but it's a data point at least:

http://www.johndeerynissan.com/used-Waterloo-2012-Nissan-LEAF-SL-JN1AZ0CP1CT026759

Psyclonus said:

Noticed our local dealer has a used red 2012 SL on the lot (LEAFs are very rare in our area, we've only seen one other one in the wild, our local dealer hasn't had a 2013 yet). I think their price is a bit... ambitious... but it's a data point at least:

http://www.johndeerynissan.com/used-Waterloo-2012-Nissan-LEAF-SL-JN1AZ0CP1CT026759

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considering that what they are asking for their car is so close to what a new one would cost I doubt that it would sell at a price anywhere near to what they're asking

Thanks for bumping this thread after the long awaited 6/20/13 battery "cost" announcement.

I suspect resale value on Leafs as they get older is going to be not good, esp. those w/significantly degraded capacity and past the 5/year 60K mile capacity warranty.

Once an owner decides to have his battery replaced under the plan and has the $100/month leased battery obligation, I suspect the value of the Leaf will be very poor. I don't think many bargain hunters/those in search of cheap used cars want to buy one w/a $100/month leased battery obligation.

I see this "plan" driving more and more people to leasing rather than buying... Or away from the Leaf entirely.

cwerdna said:

Once an owner decides to have his battery replaced under the plan and has the $100/month leased battery obligation, I suspect the value of the Leaf will be very poor. I don't think many bargain hunters/those in search of cheap used cars want to buy one w/a $100/month leased battery obligation.

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Will Nissan lease a three year old vehicle after it is returned? Ten year old vehicle?
How old is too old or when does it stop?

Of course Nissan can pop in a fresh battery any time they want.

My 2011 with 31k miles on the odometer lost more than $1,000 over last month or so according to kbb.com. Not pretty.

Valdemar said:

My 2011 with 31k miles on the odometer lost more than $1,000 over last month or so according to kbb.com. Not pretty.

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I'd expect it to lose several thousands in the next month. That battery announcement wasn't pretty.

Why buy a used leaf if you end up making never ending payments on it?

Any takers to predict the price of a 6-7 y/o mid to high mileage '11 Leaf in good condition with a new leased battery? My guess is you'll be able to get 4-5k for it if you get lucky.