DaveinOlyWA
Posts: 13143
Joined: Sat Apr 24, 2010 7:43 pm
Delivery Date: 16 Feb 2018
Leaf Number: 314199
Location: Olympia, WA
Contact: Website

Re: End of Lease Strategies?

Sat Mar 10, 2018 8:29 am

72andsunny wrote:
torabb wrote:I just bought out my 2013 S w/ Quickcharge lease. I'm very happy with my deal but it was extremely difficult to get there. I started with a 2-year, 15,000 mile/year lease and extended twice to eventually run a total of 59 months (ending mileage close to 74,000). I had the good fortune to have the original battery drop to 8 bars (~54k miles) and I received a new battery in Aug '18 that now has ~20k miles on it. My residual was $12,491 but Nissan discounted the buyout to $7k. NADA retail shows 5.5 to $7.5k value (but new battery with new chemistry made it worth more to me). I talked to a lot of dealers and only one who would be honest about the buyout. Last week in spite of all my efforts I did not think it would happen and was reluctantly looking at Bolts. I wanted others to know a good lease buyout is possible. This site was especially helpful to me in landing a great lease in the first place (2-year, 30,000 mile, 0 down at $234/month).


Curious if the $12,491 was the original residual or after the 3 years of lease extensions.


unquestionably the original since that would not change on extensions. The extensions are the reason he got the extra mileage and the discount
2011 SL; 44,598 miles. 2013 S; 44,840 miles.2016 S30 deceased. 29,413 miles. 2018 S40; 8743 miles, 485 GIDs, 37.6 kwh 111.39 Ahr , SOH 96.49, Hx 114.98
My Blog; http://daveinolywa.blogspot.com" onclick="window.open(this.href);return false;

AlanSqB
Posts: 330
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 Mar 10, 2018 9:33 am

My lease extension indicated a revised residual amount. I think they are baking in the adjustments.
[s]2015 LEAF SV in Gunmetal Gray[/s] Returned 2/2018
"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.

torabb
Posts: 9
Joined: Mon Apr 15, 2013 11:28 am
Delivery Date: 15 Apr 2013

Re: End of Lease Strategies?

Sat Mar 10, 2018 11:03 am

No the original residual was 18,133.70

EVforRobert
Posts: 206
Joined: Tue Aug 11, 2015 2:51 pm
Delivery Date: 25 Sep 2015
Location: SF Bay Area

Re: End of Lease Strategies?

Sat Mar 10, 2018 1:09 pm

torabb wrote:I just bought out my 2013 S w/ Quickcharge lease. I'm very happy with my deal but it was extremely difficult to get there. I started with a 2-year, 15,000 mile/year lease and extended twice to eventually run a total of 59 months (ending mileage close to 74,000). I had the good fortune to have the original battery drop to 8 bars (~54k miles) and I received a new battery in Aug '18 that now has ~20k miles on it. My residual was $12,491 but Nissan discounted the buyout to $7k. NADA retail shows 5.5 to $7.5k value (but new battery with new chemistry made it worth more to me). I talked to a lot of dealers and only one who would be honest about the buyout. Last week in spite of all my efforts I did not think it would happen and was reluctantly looking at Bolts. I wanted others to know a good lease buyout is possible. This site was especially helpful to me in landing a great lease in the first place (2-year, 30,000 mile, 0 down at $234/month).


1. good lease terms
2. drove 74,000 miles
3. qualified for new lizard battery
4. lowered the residual twice
5. bought the car for 1/5 of its original value
6. happy with the deal

Is torabb the all time forum winner?
2015 SV LED + Quickcharge returned
2016 S 30kWh Mfg 9/16 82.34 AHr 4 miles. 5/18 69.71 AHr SOH 87.71 20618 mi
after PC6300 AHr 74.70 SOH 93.98 (94.24 SOH 10 days later)

72andsunny
Posts: 11
Joined: Fri Apr 14, 2017 9:53 pm
Delivery Date: 23 Oct 2015

Re: End of Lease Strategies?

Sat Mar 10, 2018 1:28 pm

EVforRobert wrote:
torabb wrote:I just bought out my 2013 S w/ Quickcharge lease. I'm very happy with my deal but it was extremely difficult to get there. I started with a 2-year, 15,000 mile/year lease and extended twice to eventually run a total of 59 months (ending mileage close to 74,000). I had the good fortune to have the original battery drop to 8 bars (~54k miles) and I received a new battery in Aug '18 that now has ~20k miles on it. My residual was $12,491 but Nissan discounted the buyout to $7k. NADA retail shows 5.5 to $7.5k value (but new battery with new chemistry made it worth more to me). I talked to a lot of dealers and only one who would be honest about the buyout. Last week in spite of all my efforts I did not think it would happen and was reluctantly looking at Bolts. I wanted others to know a good lease buyout is possible. This site was especially helpful to me in landing a great lease in the first place (2-year, 30,000 mile, 0 down at $234/month).


1. good lease terms
2. drove 74,000 miles
3. qualified for new lizard battery
4. lowered the residual twice
5. bought the car for 1/5 of its original value
6. happy with the deal

Is torabb the all time forum winner?


Is that really that great of a deal? I’m calculating $13,806 in lease payments, +$7000 purchase +$7500 fed rebate =$28,306. That seems a little steep to me. I’m assuming no state rebate, but if there’s a state rebate, that was even worse. I suppose it would look better if there were some free months negotiated as part of the lease extensions.

LeftieBiker
Posts: 9240
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 31 May 2013
Location: Upstate New York, US

Re: End of Lease Strategies?

Sat Mar 10, 2018 3:00 pm

Since he didn't pay the $7500 credit, that should be excluded. It's a discount, not a cost.
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Oils4AsphaultOnly
Posts: 446
Joined: Sat Oct 10, 2015 4:09 pm
Delivery Date: 20 Nov 2016
Leaf Number: 313890
Location: Arcadia, CA

Re: End of Lease Strategies?

Sat Mar 10, 2018 3:02 pm

72andsunny wrote:
EVforRobert wrote:
torabb wrote:I just bought out my 2013 S w/ Quickcharge lease. I'm very happy with my deal but it was extremely difficult to get there. I started with a 2-year, 15,000 mile/year lease and extended twice to eventually run a total of 59 months (ending mileage close to 74,000). I had the good fortune to have the original battery drop to 8 bars (~54k miles) and I received a new battery in Aug '18 that now has ~20k miles on it. My residual was $12,491 but Nissan discounted the buyout to $7k. NADA retail shows 5.5 to $7.5k value (but new battery with new chemistry made it worth more to me). I talked to a lot of dealers and only one who would be honest about the buyout. Last week in spite of all my efforts I did not think it would happen and was reluctantly looking at Bolts. I wanted others to know a good lease buyout is possible. This site was especially helpful to me in landing a great lease in the first place (2-year, 30,000 mile, 0 down at $234/month).


1. good lease terms
2. drove 74,000 miles
3. qualified for new lizard battery
4. lowered the residual twice
5. bought the car for 1/5 of its original value
6. happy with the deal

Is torabb the all time forum winner?


Is that really that great of a deal? I’m calculating $13,806 in lease payments, +$7000 purchase +$7500 fed rebate =$28,306. That seems a little steep to me. I’m assuming no state rebate, but if there’s a state rebate, that was even worse. I suppose it would look better if there were some free months negotiated as part of the lease extensions.


You can't add back the fed tax rebate, because that's not apples to apples. His out-of-pocket (lease payments + residual purchase) should be all that matters. At $21,306, that's not much of a deal. But it's not bad either, since he had optionality multiple times (to continue or return the car).
:: Model 3 LR :: acquired 9 May '18
:: Leaf S30 :: build date: Sep '16 :: purchased: Nov '16
Date - Miles / GIDs:
May '17 - 7300 mi / 363
Feb '18 - 20.5k mi / 333

EVforRobert
Posts: 206
Joined: Tue Aug 11, 2015 2:51 pm
Delivery Date: 25 Sep 2015
Location: SF Bay Area

Re: End of Lease Strategies?

Sat Mar 10, 2018 3:22 pm

Oils4AsphaultOnly wrote:
72andsunny wrote:
EVforRobert wrote:
1. good lease terms
2. drove 74,000 miles
3. qualified for new lizard battery
4. lowered the residual twice
5. bought the car for 1/5 of its original value
6. happy with the deal

Is torabb the all time forum winner?


Is that really that great of a deal? I’m calculating $13,806 in lease payments, +$7000 purchase +$7500 fed rebate =$28,306. That seems a little steep to me. I’m assuming no state rebate, but if there’s a state rebate, that was even worse. I suppose it would look better if there were some free months negotiated as part of the lease extensions.


You can't add back the fed tax rebate, because that's not apples to apples. His out-of-pocket (lease payments + residual purchase) should be all that matters. At $21,306, that's not much of a deal. But it's not bad either, since he had optionality multiple times (to continue or return the car).


$6000 benefit for new battery
Does not say how many rebates from state or local.
torabb, it does not specify your location. Could you update and tell us if there were any additional rebates?
2015 SV LED + Quickcharge returned
2016 S 30kWh Mfg 9/16 82.34 AHr 4 miles. 5/18 69.71 AHr SOH 87.71 20618 mi
after PC6300 AHr 74.70 SOH 93.98 (94.24 SOH 10 days later)

torabb
Posts: 9
Joined: Mon Apr 15, 2013 11:28 am
Delivery Date: 15 Apr 2013

Re: End of Lease Strategies?

Sat Mar 10, 2018 6:30 pm

Florida, so there were no state rebates. They had me skip one lease payment on first lease extension, skipped two on last extension. I would not have landed such a good lease without this website. Based on the poor resale value of this car I expected to get a good deal buying it out. Since the dealers took this back from NMAC they've done a good job of keeping us in the dark. I looked at this website and found no discussion of a discounted price. I wanted to let people know it's out there. I literally had dozens of people at the dealership tell me the posted 12.5 k residual was the best available. I don't think I got an outrageous deal but I think I got a good one (in spite of the efforts of many at various Nissan Dealerships). I'm very happy as I really enjoy the car as a budget commuter car.

DaveinOlyWA
Posts: 13143
Joined: Sat Apr 24, 2010 7:43 pm
Delivery Date: 16 Feb 2018
Leaf Number: 314199
Location: Olympia, WA
Contact: Website

Re: End of Lease Strategies?

Sun Mar 11, 2018 5:52 am

sorry I missed it. what was your total payments?

It looks like roughly 34 cents per mile? An ok deal.
2011 SL; 44,598 miles. 2013 S; 44,840 miles.2016 S30 deceased. 29,413 miles. 2018 S40; 8743 miles, 485 GIDs, 37.6 kwh 111.39 Ahr , SOH 96.49, Hx 114.98
My Blog; http://daveinolywa.blogspot.com" onclick="window.open(this.href);return false;

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