MalachiConstant
Posts: 13
Joined: Thu Aug 25, 2016 3:24 pm

Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 10:59 am

I leased 2017 Nissan Leaf for 24 months. I put $0 down and pay $249/month. My lease ends in 5 months.
I wasn't planning on keeping the car, I was happy basically just paying to rent a car and then maybe rolling into something newer at the end.
However, I'm re-considering, and have a newbie question. The 2018 & 2019 Leafs are significant upgrades over the 2017 Leaf. So I imagine the 2017's value is substantially decreased. The battery life is so small compared to a lot of the newer EVs. Is it possible to negotiate a good deal to buy out my Leaf, or is the price already set in stone when I leased the car? Clearly, I know nothing about leasing and didn't really pay much attention to the Money Factor etc. when I leased because I was happy to put $0 down and only pay $250/month and didn't plan on buying the car at the end. Thanks for any input.

LeftieBiker
Posts: 9837
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 30 Apr 2018
Location: Upstate New York, US

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 1:54 pm

There is a topic on 'end of lease options' but the short answer is that dealers can negotiate residuals, but they hate doing it. Email a bunch of them asking for 'out the door' buyout prices.
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.

MalachiConstant
Posts: 13
Joined: Thu Aug 25, 2016 3:24 pm

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 2:33 pm

Thanks- can you specify? Explain like I'm 5- so the residual is the amount I can buy the car out for, is that correct? What is an 'out the door' buyout price?

DaveinOlyWA
Posts: 13338
Joined: Sat Apr 24, 2010 7:43 pm
Delivery Date: 16 Feb 2018
Leaf Number: 314199
Location: Olympia, WA
Contact: Website

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 2:42 pm

The likelihood of getting a discount on a 2 year residual is near zero. Getting one on 3 year residual used to be near guaranteed. Your best bet is extend. at $249 a month, you wouldn't be losing out
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;

LeftieBiker
Posts: 9837
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 30 Apr 2018
Location: Upstate New York, US

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 3:50 pm

It can't hurt to try.

The residual is what you owe on the car of you want to buy it.
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.

SageBrush
Posts: 2926
Joined: Sun Mar 06, 2011 2:28 am
Delivery Date: 13 Feb 2017
Location: Colorado

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 4:24 pm

Keep in mind that the car belongs to Nissan, not to the dealership you hope to haggle.
2013 LEAF 'S' Model with QC & rear-view camera
Bought off-lease Jan 2017 from N. California
Car is now enjoying an easy life in Colorado
03/2018: 58 Ahr, 28k miles
11/2018: 56.16 Ahr, 30k miles
-----
2018 Tesla Model 3 LR, Delivered 6/2018

LeftieBiker
Posts: 9837
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 30 Apr 2018
Location: Upstate New York, US

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 4:26 pm

SageBrush wrote:Keep in mind that the car belongs to Nissan, not to the dealership you hope to haggle.


Nissan/NMAC used to act on that assumption, but now it's much more as if the dealership owns the car, because NMAC doesn't really want them back that much. They do limit the discount dealers can offer, but otherwise it's the dealer(s) you have to deal with, these days.
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.

MalachiConstant
Posts: 13
Joined: Thu Aug 25, 2016 3:24 pm

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 4:33 pm

This is helpful, thanks.
Last edited by MalachiConstant on Fri Sep 07, 2018 10:51 am, edited 1 time in total.

SageBrush
Posts: 2926
Joined: Sun Mar 06, 2011 2:28 am
Delivery Date: 13 Feb 2017
Location: Colorado

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 4:35 pm

LeftieBiker wrote:
SageBrush wrote:Keep in mind that the car belongs to Nissan, not to the dealership you hope to haggle.


Nissan/NMAC used to act on that assumption, but now it's much more as if the dealership owns the car, because NMAC doesn't really want them back that much. They do limit the discount dealers can offer, but otherwise it's the dealer(s) you have to deal with, these days.

Why would a dealership act as if it was buying the car if in fact it is Nissan ?
Where does the dealership profit ?
2013 LEAF 'S' Model with QC & rear-view camera
Bought off-lease Jan 2017 from N. California
Car is now enjoying an easy life in Colorado
03/2018: 58 Ahr, 28k miles
11/2018: 56.16 Ahr, 30k miles
-----
2018 Tesla Model 3 LR, Delivered 6/2018

DaveinOlyWA
Posts: 13338
Joined: Sat Apr 24, 2010 7:43 pm
Delivery Date: 16 Feb 2018
Leaf Number: 314199
Location: Olympia, WA
Contact: Website

Re: Help- End of Lease Advice for Dummy

Thu Sep 06, 2018 5:28 pm

SageBrush wrote:
LeftieBiker wrote:
SageBrush wrote:Keep in mind that the car belongs to Nissan, not to the dealership you hope to haggle.


Nissan/NMAC used to act on that assumption, but now it's much more as if the dealership owns the car, because NMAC doesn't really want them back that much. They do limit the discount dealers can offer, but otherwise it's the dealer(s) you have to deal with, these days.

Why would a dealership act as if it was buying the car if in fact it is Nissan ?
Where does the dealership profit ?


On both my lease turn ins, there was a "payment" made that was significantly less than the residual that satisfied the balance. I don't remember the residual on my 2013. It was in the $11-12 K range but a payment of $5400 applied to my account 2 days after I turned it in zero'd the balance.

The dealer in question did not send the car to auction. It was cleaned up and put on sale. So yeah, there is a financial incentive for the dealer. Now I did not attempt to negotiate a lower buyout and this was during a time where very good deals were being made all over the place.
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;

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