pcx999
Posts: 3
Joined: Thu Mar 14, 2013 11:30 am
Delivery Date: 14 Mar 2013

Re: End of Lease Strategies?

Thu May 04, 2017 10:49 am

Is there any change to the minimum buyout price?

McFly
Posts: 3
Joined: Tue Jul 01, 2014 7:19 pm
Delivery Date: 27 Jun 2014

Re: End of Lease Strategies?

Thu May 04, 2017 12:27 pm

LeafyAustin wrote:MY15 on 36-mo lease reduced to $4,700 in May. Lease extension anyone?


Could you help me out on this, this is my first lease. I have a MY15 with about $11k in residual. Is the $4700 reduction from the residual value? And what was it in April?

Fred
Posts: 14
Joined: Thu Nov 08, 2012 11:18 am
Delivery Date: 30 Oct 2012

Re: End of Lease Strategies?

Thu May 04, 2017 10:35 pm

Two points:

* The "early termination fee" language has always been there, but it isn't used. The lease is month by month and the only penalty you pay is owing the free payments if you don't extend at least 6 months. It made some of us nervous at first, but there is no record of Nissan every imposing an early termination penalty other than invalidating the free months.

* Nobody lowers lease payments on an extension. That's because it isn't a new lease - it's an extension of the existing terms.


After I posted I reread and realized the language was for the recapture of the three months free payments if terminated early. It was just preceeded with the standard canned language that led me to read it in the wrong light. I extended today.

I wasn't expecting the payments to drop, I know the drill. It's just that it becomes less and less economically viable to just keep extending as you are making the same payments to cover the depreciation of a new car when actually it is now only depreciating as much as a several year old car. At least for normal cars that is, the Leaf's depreciation curve is not the norm with all the incentives dropping the effective purchase price and electric cars being somewhat akin to other tech devices in depreciating not only due to wear and tear but being becoming outdated. Which is too bad in a way as used Leafs are still a very usable car and dirt cheap to operate.

AlanSqB
Posts: 317
Joined: Mon Aug 04, 2014 5:33 pm
Delivery Date: 26 Jul 2014
Leaf Number: 300613
Location: Fort Collins, CO

Re: End of Lease Strategies?

Fri May 05, 2017 5:39 am

LeafyAustin wrote:MY15 on 36-mo lease reduced to $4,700 in May. Lease extension anyone?


Well I guess Nissan is going to be getting my '15 back in two months. I'm not going to fall for the lease extension trap when my monthly payment is over $400 now.

Anybody know where I can get a set of lease-return compliant tires for this thing cheap? I'm debating whether I should replace them or just see what the penalty ends up being. I was planning to do that anyway, but found out that if the car has to be re-inspected for repairs prior to return that I have to pay for the repeat inspection.

At this point I just want to hand it back and walk away. It's a shame because I really like it and it's still got low mileage and is in great shape. It's just not worth the buyout without a much bigger incentive.
2015 LEAF SV in Gunmetal Gray
"The only gas in this vehicle comes from the driver."
I drive a LEAF, it doesn't have Ludicrous or Insane mode. It only has Slightly Annoyed mode.

Dooglas
Posts: 176
Joined: Thu Apr 03, 2014 10:08 pm
Delivery Date: 04 Jan 2017
Leaf Number: 314779
Location: Oregon City, OR

Re: End of Lease Strategies?

Fri May 05, 2017 9:50 am

AlanSqB wrote:At this point I just want to hand it back and walk away.

That is precisely the point of a lease - so that you have that option, if it is in your best interest.
2013 Leaf SV - lease ended, 2016 Leaf S30

AlanSqB
Posts: 317
Joined: Mon Aug 04, 2014 5:33 pm
Delivery Date: 26 Jul 2014
Leaf Number: 300613
Location: Fort Collins, CO

Re: End of Lease Strategies?

Fri May 05, 2017 11:59 am

Yes, I'm assuming that Nissan is no longer concerned about a glut of used units sitting on dealer lots and therefore sweetening the incentive. They must be moving the metal. Good for them.
2015 LEAF SV in Gunmetal Gray
"The only gas in this vehicle comes from the driver."
I drive a LEAF, it doesn't have Ludicrous or Insane mode. It only has Slightly Annoyed mode.

LeftieBiker
Posts: 7205
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 31 May 2013
Location: Upstate New York, US

Re: End of Lease Strategies?

Fri May 05, 2017 12:51 pm

Anybody know where I can get a set of lease-return compliant tires for this thing cheap?


Ebay tire dealers. You can buy used brand-name tires, or new lesser brands. I actually got new brand-name (Goodyear Eagle L/S) tires for $275 shipped, IIRC. I'm still using them.
2013 "Brilliant Silver" SV with Premium Package and no QC, and 2009 Vectrix VX-1 with 18 Leaf cells.

The most offensive, tasteless phrase in use here is "Pulled the trigger." I no longer respond to posts that use it.

kiko
Posts: 3
Joined: Wed Oct 01, 2014 8:25 pm
Delivery Date: 28 Sep 2014
Leaf Number: 309421

Re: End of Lease Strategies?

Sat May 06, 2017 8:24 am

So, missing the $6700 buyout incentive last month and not wanting to bite on $4700, I decided to extend lease of MY15 from late September to late April '18. Lease is 171/mo so that factored in decision. Still, am having some remorse as I like the vehicle and it is working well for our needs, any chance incentives will come back up? Past history from this thread indicates not likely, but maybe with Leaf 2.0 there will be another round of better incentives? Any thoughts appreciated.

Dooglas
Posts: 176
Joined: Thu Apr 03, 2014 10:08 pm
Delivery Date: 04 Jan 2017
Leaf Number: 314779
Location: Oregon City, OR

Re: End of Lease Strategies?

Sat May 06, 2017 9:18 am

kiko wrote:So, missing the $6700 buyout incentive last month and not wanting to bite on $4700, I decided to extend lease of MY15 from late September to late April '18. Lease is 171/mo so that factored in decision. Still, am having some remorse as I like the vehicle and it is working well for our needs, any chance incentives will come back up? Past history from this thread indicates not likely, but maybe with Leaf 2.0 there will be another round of better incentives? Any thoughts appreciated.

We are all just guessing about the future, but I would think the release of the new Leaf would put a major damper on the resale value of the 24kwh Leaf. I'd think that would be reflected in prices on the used market and in buyout incentives. We'll see.
2013 Leaf SV - lease ended, 2016 Leaf S30

AlanSqB
Posts: 317
Joined: Mon Aug 04, 2014 5:33 pm
Delivery Date: 26 Jul 2014
Leaf Number: 300613
Location: Fort Collins, CO

Re: End of Lease Strategies?

Sat May 06, 2017 1:32 pm

Exactly what I am hoping for. I'm thinking that as soon as they start releasing photos and purchase details for the '18, the incentives could come back up. However, I've only got one more month that I can hold out. $7500 is still my magic number.
2015 LEAF SV in Gunmetal Gray
"The only gas in this vehicle comes from the driver."
I drive a LEAF, it doesn't have Ludicrous or Insane mode. It only has Slightly Annoyed mode.

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