ashfaqimran
Posts: 2
Joined: Mon Oct 08, 2018 2:31 am
Delivery Date: 08 Oct 2018
Leaf Number: 332637

Re: End of Lease Strategies?

Mon Oct 08, 2018 2:53 am

Hello All,

I have a 2015 S with 31000 miles on it. Lease ends in about 2 months. Paid around $8300 in lease payments (saved additional $2500 from CA). My residual is $9300. Thinking about extending lease for few months. Has anyone received lease extensions from Nissan lately, if so what was the reasoning.

Thanks

LeftieBiker
Posts: 9835
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 30 Apr 2018
Location: Upstate New York, US

Re: End of Lease Strategies?

Mon Oct 08, 2018 3:00 am

"Waiting for the 2019 long range Leaf" seems to have worked for at least one person. Remember that you can end the extension any time you like.
Scarlet Ember 2018 Leaf SL W/ Pro Pilot
2009 Vectrix VX-1 W/18 Leaf modules, & 3 EZIP E-bicycles.
PLEASE don't PM me with Leaf questions. Just post in the topic that seems most appropriate.

DaveinOlyWA
Posts: 13336
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?

Mon Oct 08, 2018 6:22 am

ashfaqimran wrote:Hello All,

I have a 2015 S with 31000 miles on it. Lease ends in about 2 months. Paid around $8300 in lease payments (saved additional $2500 from CA). My residual is $9300. Thinking about extending lease for few months. Has anyone received lease extensions from Nissan lately, if so what was the reasoning.

Thanks

Never hurts to ask. Your residual is...quite frankly too high. The residual on my 40 kwh LEAF is 9500. Rumors have the 64 kwh LEAF in showrooms by early Spring. I take that to mean late Feb in key markets, most of the US by mid to late March. IOW, nearly the same as the 2018 launch.

So you don't have long to wait.
2011 SL; 44,598 miles. 2013 S; 44,840 miles.2016 S30 deceased. 29,413 miles. 2018 S40; 11,987 miles, 485 GIDs, 37.6 kwh 110.89 Ahr , SOH 96.00, Hx 115.22
My Blog; http://daveinolywa.blogspot.com" onclick="window.open(this.href);return false;

oleviking
Posts: 43
Joined: Fri Oct 14, 2016 6:35 am
Delivery Date: 21 Oct 2016
Leaf Number: 301969
Location: Orlando, FL

Re: End of Lease Strategies?

Thu Nov 08, 2018 6:14 am

I have a 2016 SV, with a replaced battery, 20,000 miles, 2 years out of a 3 year lease paid. Just went to Nissan site and was quoted a buy out of $14,080. Looks enticing on the surface, any pitfalls to taking it now? Monthly lease payments $299, buy out on lease is $11,020 plus $300.

DaveinOlyWA
Posts: 13336
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?

Thu Nov 08, 2018 7:35 am

oleviking wrote:I have a 2016 SV, with a replaced battery, 20,000 miles, 2 years out of a 3 year lease paid. Just went to Nissan site and was quoted a buy out of $14,080. Looks enticing on the surface, any pitfalls to taking it now? Monthly lease payments $299, buy out on lease is $11,020 plus $300.


So you have a year on the lease to go then?

You probably would get close to the same deal on 2018 closeout. Many feel the 2018 (other than range) is small incremental improvements. I have to say, I feel MUCH different. I have an S so no high end tech for me but the basics, AEB, E Pedal, Climate Controls, etc. is not a small thing to me.
2011 SL; 44,598 miles. 2013 S; 44,840 miles.2016 S30 deceased. 29,413 miles. 2018 S40; 11,987 miles, 485 GIDs, 37.6 kwh 110.89 Ahr , SOH 96.00, Hx 115.22
My Blog; http://daveinolywa.blogspot.com" onclick="window.open(this.href);return false;

seattle66
Posts: 1
Joined: Thu Nov 08, 2018 10:39 am
Delivery Date: 08 Nov 2018
Leaf Number: 310502

Re: End of Lease Strategies?

Thu Nov 08, 2018 11:09 am

Hello - looking for advice and information on end-of-lease... thanks in advance for any responses!

2016 Leaf S currently with 21000 miles on it.
- Lease ends in mid-December 2018 (next month) after a 3 month extension. Original terms were 2-year lease, 12k miles per year.
- End-of-lease residual in December 2018 will be $10850, plus a $300 purchase fee.

[Edited: I had originally included a WA state sales tax question for EVs -- I now have the answer to that part, so I snipped out the question. The answer is, even though we leased the Leaf during the WA EV sales tax exemption period, meaning our lease payments were exempt, now that the exemption period has expired, if we buy the car at end-of-lease, we will owe sales tax on the residual/payoff amount.]

(2) If I try to negotiate the purchase price (to buy our current car) down from the $10.8k residual with a dealer, do you think I'll be successful? I'll try negotiating, but just trying to have realistic expectations beforehand.

(3) Is the residual of $10.8k a good price to pay? I'm thinking yes, but looking for other opinions. The residual falls within Kelly BB and Edmunds "private party sale" ranges for this car, this area (Seattle).

-- A little more background on our car: The top-line gross capitalized cost on our car per the lease agreement was 28200. We paid a total of 3200 that first day at the dealership, covering everything owed (dealer fees, title/registration, 2k or maybe 2.2k cash down, first month's payment). We've paid monthly lease payments of 122/month (& no sales tax on that) since then, now in 26th month. A bunch of "incentives" and "non-cash rebates" got the residual down to 11.2k on the lease, then our extension has reduced that further to the current 10.8k payoff amount. In all, we've got roughly $6100 in the car to-date. If we buy it at the residual + 300 purchase fee, we'll have essentially bought the car for $17k (excluding TT&L).

Thanks again!
Last edited by seattle66 on Fri Nov 09, 2018 1:02 pm, edited 5 times in total.

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

Re: End of Lease Strategies?

Thu Nov 08, 2018 12:13 pm

leafer007 wrote:I am so glad that I could be of some help to this community!! Never pay extra to those dealers, it is always a long struggle to pay the right price :)

leafiewife wrote:Just registered and it's my first time posting, though I have lurked here from time to time over the years. We leased a brand new 2015 S w/QC in December 2014 from a local Phoenix area dealership, and it's been my husband's trusty commuting car for the past 42+ months. Being Phoenicians, we never anticipated that we would want to *own* this car, figuring we were lucky to get one of those great 3-year promotional leases at the end of 2014 to try out EV "ownership" to see if it worked for us, then maybe look at buying a fresh EV (with a new battery!), or leasing another new EV, if the 3-year Leaf lease was a success. Amazingly, after two lease extensions (with the three free months), we completed an end-of-lease buyout of our 2015 yesterday.

I'm taking the plunge to post here both to share our buyout experience, and to express our sincere gratitude to leafer007 (if he's still here) for posting the then-current Leaf GPO Discount bulletin on 7/2. Because of you, leafer007, we were firm and relentless from the day I read your post (7/5), and managed to get the published Minimum Purchase Price for the 2015 S of $8300 at the 11th hour, yesterday.

So as not to bury the lede, here are the car and buyout deets:

2015 silver S w/QC, 42+ months and 42k+ miles, 1 bar lost shortly before the 36-month mark;

Total $$$ in vehicle before buyout, including cash down, all lease pmts, dealer fees, TT&L, inclusive ("all in"): just over $12,000;

Gross Payoff amount reported by NMAC to dealerships: just under $11,300 (Note: This amount was about $800 *less* than the amount showing on our current NMAC statement, after the most recent lease payment had been credited);

Buyout terms: $8300 "Minimum RPM Purchase Price" + $300 contract end-of-lease fee + sales tax (high in AZ, 7.8% in dealership municipality) + title & license (low in AZ) + $35 in misc dealership admin charges = just a hair over $9300 out the door.

I still can't quite believe we pulled it off -- we told ourselves that unless we could convince a dealer to give us the published deal, we just weren't going to do it. (In the Phx area, used 2015 S's are currently listed on TrueCar generally in the $10,000s and $11,000s, with at least 2 particular specimens under 25k miles including all 12 bars advertised at $10,990. With supposedly around 230 used Leafs for sale in the Phx area on TrueCar right now, there are a few 2015s advertised under $10k, but their battery status is unknown to the online looky-loo.)

Getting the deal done was incredibly time consuming and painful, including one fruitless trip to a dealership (where they wouldn't budge on their made-up $500 doc fee), and another false start toward the dealership where it ultimately *did* happen, but not without strife, tumult, bad mojo and some yelling (from me toward the salesman we ultimately got the deal done with).

Like others have posted before, some dealerships refuse to admit that the incentives or discounts exist (even when you send them the bulletin), others insist on padding with so much dealer crap $$$ that it was taking the price over $10k, a no-go in the current market conditions. (As I said to my husband, we might be better off by letting this one go back, and buying one of those $10,990 2015s with half the miles and all the bars. Of course, who knows what the *real* cost of one of those would be, after all the used-car dealer add-on fees, plus TT&L, naturally.)

Well, I'm out of time and that's plenty for an inaugural post . . . if you made it this far, thanks again for paying it forward, leafer007!


Leafer007, what dealer did you end up buying through? There’s only one on this island, and they want roughly 2k more than my Nissan Finance payoff amount (some of that is sales tax and a ton of other fees, but their residual is about $1000 more than it should be).

If anyone else has a recommended contact, I’m all ears. My residual is down to $8k at the moment, so im not expecting a screaming deal. I just don’t want to pay $10k for it.

Oils4AsphaultOnly
Posts: 496
Joined: Sat Oct 10, 2015 4:09 pm
Delivery Date: 20 Nov 2016
Leaf Number: 313890
Location: Arcadia, CA

Re: End of Lease Strategies?

Thu Nov 08, 2018 1:38 pm

72andsunny wrote:
leafer007 wrote:I am so glad that I could be of some help to this community!! Never pay extra to those dealers, it is always a long struggle to pay the right price :)

leafiewife wrote:Just registered and it's my first time posting, though I have lurked here from time to time over the years. We leased a brand new 2015 S w/QC in December 2014 from a local Phoenix area dealership, and it's been my husband's trusty commuting car for the past 42+ months. Being Phoenicians, we never anticipated that we would want to *own* this car, figuring we were lucky to get one of those great 3-year promotional leases at the end of 2014 to try out EV "ownership" to see if it worked for us, then maybe look at buying a fresh EV (with a new battery!), or leasing another new EV, if the 3-year Leaf lease was a success. Amazingly, after two lease extensions (with the three free months), we completed an end-of-lease buyout of our 2015 yesterday.

I'm taking the plunge to post here both to share our buyout experience, and to express our sincere gratitude to leafer007 (if he's still here) for posting the then-current Leaf GPO Discount bulletin on 7/2. Because of you, leafer007, we were firm and relentless from the day I read your post (7/5), and managed to get the published Minimum Purchase Price for the 2015 S of $8300 at the 11th hour, yesterday.

So as not to bury the lede, here are the car and buyout deets:

2015 silver S w/QC, 42+ months and 42k+ miles, 1 bar lost shortly before the 36-month mark;

Total $$$ in vehicle before buyout, including cash down, all lease pmts, dealer fees, TT&L, inclusive ("all in"): just over $12,000;

Gross Payoff amount reported by NMAC to dealerships: just under $11,300 (Note: This amount was about $800 *less* than the amount showing on our current NMAC statement, after the most recent lease payment had been credited);

Buyout terms: $8300 "Minimum RPM Purchase Price" + $300 contract end-of-lease fee + sales tax (high in AZ, 7.8% in dealership municipality) + title & license (low in AZ) + $35 in misc dealership admin charges = just a hair over $9300 out the door.

I still can't quite believe we pulled it off -- we told ourselves that unless we could convince a dealer to give us the published deal, we just weren't going to do it. (In the Phx area, used 2015 S's are currently listed on TrueCar generally in the $10,000s and $11,000s, with at least 2 particular specimens under 25k miles including all 12 bars advertised at $10,990. With supposedly around 230 used Leafs for sale in the Phx area on TrueCar right now, there are a few 2015s advertised under $10k, but their battery status is unknown to the online looky-loo.)

Getting the deal done was incredibly time consuming and painful, including one fruitless trip to a dealership (where they wouldn't budge on their made-up $500 doc fee), and another false start toward the dealership where it ultimately *did* happen, but not without strife, tumult, bad mojo and some yelling (from me toward the salesman we ultimately got the deal done with).

Like others have posted before, some dealerships refuse to admit that the incentives or discounts exist (even when you send them the bulletin), others insist on padding with so much dealer crap $$$ that it was taking the price over $10k, a no-go in the current market conditions. (As I said to my husband, we might be better off by letting this one go back, and buying one of those $10,990 2015s with half the miles and all the bars. Of course, who knows what the *real* cost of one of those would be, after all the used-car dealer add-on fees, plus TT&L, naturally.)

Well, I'm out of time and that's plenty for an inaugural post . . . if you made it this far, thanks again for paying it forward, leafer007!


Leafer007, what dealer did you end up buying through? There’s only one on this island, and they want roughly 2k more than my Nissan Finance payoff amount (some of that is sales tax and a ton of other fees, but their residual is about $1000 more than it should be).

If anyone else has a recommended contact, I’m all ears. My residual is down to $8k at the moment, so im not expecting a screaming deal. I just don’t want to pay $10k for it.


I think the trick is to not buy it from your one dealer. I don't think there's any restrictions preventing you from buying out your lease from an out-of-state dealer. That's my suggestion. But please let us know how that goes?
:: 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

ashfaqimran
Posts: 2
Joined: Mon Oct 08, 2018 2:31 am
Delivery Date: 08 Oct 2018
Leaf Number: 332637

Re: End of Lease Strategies?

Wed Nov 14, 2018 5:09 pm

DaveinOlyWA wrote:
ashfaqimran wrote:Hello All,

I have a 2015 S with 31000 miles on it. Lease ends in about 2 months. Paid around $8300 in lease payments (saved additional $2500 from CA). My residual is $9300. Thinking about extending lease for few months. Has anyone received lease extensions from Nissan lately, if so what was the reasoning.

Thanks

Never hurts to ask. Your residual is...quite frankly too high. The residual on my 40 kwh LEAF is 9500. Rumors have the 64 kwh LEAF in showrooms by early Spring. I take that to mean late Feb in key markets, most of the US by mid to late March. IOW, nearly the same as the 2018 launch.

So you don't have long to wait.



Contacted Nissan and they were able to extend lease by 4 months.

Talking to some of the SF bay area dealers, most claim that the Nissan GPO has been discontinued or also say minimum price is $10,300.

I have couple of weeks left on my lease.

My total payments have been about $6300. It is 2015 Leaf S with 32k miles and 12 bars. With $9,300 residual + TT&L of $700 or so. Is total cost of $16.5K sounds reasonable. Looking for some advice on what a good total cost is.

Thanks

LeftieBiker
Posts: 9835
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 30 Apr 2018
Location: Upstate New York, US

Re: End of Lease Strategies?

Wed Nov 14, 2018 5:30 pm

Your residual is...quite frankly too high. The residual on my 40 kwh LEAF is 9500.


That likely means that you are paying too much for the lease. What if you don't want to buy the car when it ends, or the car is totaled? I have a residual of $17k, which is about market value. If I have to walk away from the car. I won't be crying.
Scarlet Ember 2018 Leaf SL W/ Pro Pilot
2009 Vectrix VX-1 W/18 Leaf modules, & 3 EZIP E-bicycles.
PLEASE don't PM me with Leaf questions. Just post in the topic that seems most appropriate.

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