2013/2014 Nissan Leaf Lease Information

[cwerdna]

^^^
What are the rest of the numbers (e.g. $ down, monthly payment)?

 

[cwerdna]

At the same time, there are new EVs in the market here in California. The Chevy Spark EV just arrived. I haven't leased the Leaf yet, as I wanted to see the Spark. I had a chance to check one out at the dealer, they were still unwrapping it. It has its strengths and is pretty competitive with the the S and is 1K less, goes farther, is much faster, and even has navigation.
It's also much smaller...

But, but if you compare to a more well-equipped Leaf, it cannot have a CHAdeMO port and can have (later?) a currently useless J1772 Frankenplug port. It also only has a slow 3.3 kW on-board charger.

What kind of lease deals are they offering? Please specify term, monthly payment and initial money down required.

Bummer to hear from Corina1231 re: the money factor rise. I tried to look around on a couple Bay Area Nissan dealers web sites to see what they Leaf lease prices they were advertising and came empty...

 

[evsammi217]

The Spark EV goes for 999 down and 199 a month. Has a 3.3 kw, just like the Leaf S. Also goes farther at 82 miles per charge. And can go from 0-6 on 7.6 seconds. It's a viable alternative to the Nissan Leaf. Depending on how you drive and what you need, it can definitely get the job done. It's certainly a negotiating tool with the Nissan dealers.

It also has a navigation/touch screen, it supposedly synchs with your phone you can might even be able to watch videos.

 

[cwerdna]

^^^
Insufficient data. What's the length of the lease?

 

[Corina1231]

^^^
Insufficient data. What's the length of the lease?

It's pretty safe to assume he's talking about the standard 2 yr., 12k mile a year lease based on those numbers. But is he including taxes, fees? Even if he is, you can still get the Base Leaf S with no options for less than that all day.

I sat in the Spark at a recent auto show - too SMALL for me. Also, I thought it was ugly and cheap looking (but I realize a lot of that is strictly personal taste).

 

[Corina1231]

Just got this quote today in Santa Barbara:
SV + QC package
Tier 1 money factor: .0018
Residual: 24 months = 57%; 36 months = 48%

From other posts the MF looks high.

Nothing you can do re: the MF. Nissan raised it for July. The lower residual is a double whammy. Leaf leases are going up.

 

[Corina1231]

I wrote on p. 102 at the end of last month:

"I am concerned that the money factor might go up a lot, considering the historic spike in interest rates in the past few weeks!"

Unfortunately, my prediction came true. I just stopped by my local Nissan dealer to check the new lease prices on Leafs for the month of July, and the news is not good. While supply has remained fairly constant, demand has risen sharply, accounting for the decreased inventory of Leafs on the lots. My local dealer delivered 71 Leafs last month, a new record. To add to the equation, the money factor went up in July (following interests rates everywhere), and the residual ticked lower.

The bottom line is that Leafs could well lease for $30-$35 a month more in July than June. My dealer flat out said he is counting on VPP deals (where the dealer gets $1000 back from Nissan) to account for a much larger percent of Leaf deals going forward. Translated, that means fewer nonVPP deals thus fewer Leaf deals altogether. Those who got their Leaf before July 1 made the right move! The Leaf leases still remain a great value on a historical basis, not to mention the economic and environmental benefits.

.............................................................

Company statement:

"Nissan said it sold 2,225 of its Leaf electric cars, making June the second-highest month ever, up over 315% compared to the same month last year. In the first half of the year alone, Leaf sales have already surpassed those for all of 2012. Nissan reported a 12.9% increase in total U.S. sales, hitting a June record with 104,124 cars sold."

 

[jinhui]

Here's what I was offered from Sunnyvale Nissan, residual did go down for 2 year lease as of July 2nd according to Danny the sales manager, how much room/where can the deal be enhanced?

Summary - SV with QC package, 24 month lease, no VPP, offered at $2000 drive off, $332.67/month (23 payments).

Details -
Market value: $34470
Discount: $1551
Selling Price: $32919
Doc Prep Fee: $80
License/Title: $302
Tire/Battery Fee: $8.75
Other Fee: $39
Acquisition: $595
Tax on Collected Items: $830.58
Total Cap: $34774.33
Down/Cap reduction: $1667.33
Rebate Savings: $7825.00
Net Cap: $25282.00

Base Payment: $305.90
Tax: $26.77 (8.875%)
Total Monthly (24): $332.67

Payment On Delivery (including first month payment): $2000
Annual Miles: $12k
Residual % 57+1=58% ($19992.60)

thanks!

 

[evsammi217]

The current Spark EV lease deal is 999 down and 199 a month for 36 months with a slower 3.3 kw battery. Out here in California, the Leaf S is 1999 down, and 199 a month, so you save 1K on the down payment.

Also have navigation. It is definitely cheaper in build, size, etc. At the same time, it is much faster and goes farther. It is competition which means you can have some leverage now if you are trying to get a better deal on the Leaf.

 

[cwerdna]

jinhui: Woah! You're looking exactly for what I want to get. That's a disturbingly high amount. From the drive off + payments, is ~$2600 too high. I hope this isn't what SF Bay Area deals are going to look like moving forward.

Where I'll be working isn't on the VPP list. I do have a Costco membership though.

 

[Corina1231]

The current Spark EV lease deal is 999 down and 199 a month for 36 months with a slower 3.3 kw battery. Out here in California, the Leaf S is 1999 down, and 199 a month, so you save 1K on the down payment.

Also have navigation. It is definitely cheaper in build, size, etc. At the same time, it is much faster and goes farther. It is competition which means you can have some leverage now if you are trying to get a better deal on the Leaf.

A dealer can "ask" for any amount they wish. The true cost is what people "pay", where the buyer and the seller agree on a purchase price. If you review what people on this Forum have "paid" for a Leaf S in CA it is nowhere near 1999 down and $199 a month.

 

[Corina1231]

Here's what I was offered from Sunnyvale Nissan, residual did go down for 2 year lease as of July 2nd according to Danny the sales manager, how much room/where can the deal be enhanced?

Summary - SV with QC package, 24 month lease, no VPP, offered at $2000 drive off, $332.67/month (23 payments).

Details -
Market value: $34470
Discount: $1551
Selling Price: $32919
Doc Prep Fee: $80
License/Title: $302
Tire/Battery Fee: $8.75
Other Fee: $39
Acquisition: $595
Tax on Collected Items: $830.58
Total Cap: $34774.33
Down/Cap reduction: $1667.33
Rebate Savings: $7825.00
Net Cap: $25282.00

Base Payment: $305.90
Tax: $26.77 (8.875%)
Total Monthly (24): $332.67

Payment On Delivery (including first month payment): $2000
Annual Miles: $12k
Residual % 57+1=58% ($19992.60)

thanks!

Welcome to America. A dealer can "ask" for whatever he wants. The price is silly and not indicative of what any Forum member has or will lease a Leaf for in NorCal. Shop a few dealers and you'll get a great deal somewhere.

 

[jinhui]

Corina1231, read many of your posts here and definitely would love to hear your take - given that the residual going down to 58% as I was offered, what's an obtainable total cost of ownership for SV with QC, 2 year lease, non-vpp? FWIW, after I told the dealer I was walking away from the $9600 figure, he did say $8000 is possible but that would be it. Would you advise settle on $8000? Thanks

 

[evsammi217]

The current Spark EV lease deal is 999 down and 199 a month for 36 months with a slower 3.3 kw battery. Out here in California, the Leaf S is 1999 down, and 199 a month, so you save 1K on the down payment.

Also have navigation. It is definitely cheaper in build, size, etc. At the same time, it is much faster and goes farther. It is competition which means you can have some leverage now if you are trying to get a better deal on the Leaf.

A dealer can "ask" for any amount they wish. The true cost is what people "pay", where the buyer and the seller agree on a purchase price. If you review what people on this Forum have "paid" for a Leaf S in CA it is nowhere near 1999 down and $199 a month.

Exactly. You can go into a Nissan dealer and negotiate whatever deal you want. Likewise, you can go into a Chevy dealership and do the same thing starting at a lower price point.

It's called competition.

 

[Corina1231]

The current Spark EV lease deal is 999 down and 199 a month for 36 months with a slower 3.3 kw battery. Out here in California, the Leaf S is 1999 down, and 199 a month, so you save 1K on the down payment.

Also have navigation. It is definitely cheaper in build, size, etc. At the same time, it is much faster and goes farther. It is competition which means you can have some leverage now if you are trying to get a better deal on the Leaf.

A dealer can "ask" for any amount they wish. The true cost is what people "pay", where the buyer and the seller agree on a purchase price. If you review what people on this Forum have "paid" for a Leaf S in CA it is nowhere near 1999 down and $199 a month.

Exactly. You can go into a Nissan dealer and negotiate whatever deal you want. Likewise, you can go into a Chevy dealership and do the same thing starting at a lower price point.

It's called competition.

You apparently came to this website with the intent to bash the Leaf. You could have at least spent a few minutes going through the pages of this Forum to learn what people were actually leasing the Leaf for. People on this Forum have leased the Leaf S model for as low as the equivalent of ZERO down and $199 a month. A forum member just posted two pages back from South Carolina, a state with high Leaf prices, a Leaf model S deal of $499 down and $199 a month out the door.

I didn't need to spend years in the car business or MBA school to learn what every astute consumer knows, that MSRP and price points have no bearing on what people pay for a car. I can walk into a dealership in San Jose tomorrow and get a Leaf BELOW DEALER INVOICE. I have no experience with the Spark. I haven't a clue whether a Chevy Spark would sell for more or less in a given market than a Leaf because I haven't researched what people are actually paying for the Spark. But, guess what? Neither do you. Advertised lease prices do not dictate what people are actually paying for a car, anymore than you or I.

 

[Corina1231]

Corina1231, read many of your posts here and definitely would love to hear your take - given that the residual going down to 58% as I was offered, what's an obtainable total cost of ownership for SV with QC, 2 year lease, non-vpp? FWIW, after I told the dealer I was walking away from the $9600 figure, he did say $8000 is possible but that would be it. Would you advise settle on $8000? Thanks

Jinhui, I don't want the Forum discussion to become too particular and specific to my area and yours, so if you want to communicate privately just "pm" me.

 

[hyperlexis]

People on this Forum have leased the Leaf S model for as low as ZERO down and $199 a month.

I didn't need to spend years in the car business or MBA school to learn what every astute consumer knows, that MSRP and price points have no bearing on what people pay for a car. I can walk into a dealership in San Jose tomorrow and get a Leaf at $500 or more under dealer invoice. I have no experience with the Spark. I haven't a clue whether a Chevy Spark would sell for more or less in a given market than a Leaf because I haven't researched what people are actually paying for the Spark. But, guess what? Neither do you. Advertised lease prices do not dictate what people are actually paying for a car, anymore than you or I.

$199 at $0 down sounds like a very, very good deal. When one does something like this, what can be expected to be the cost at the end of the lease to buy the car outright. I have never leased a car, and have always bought. I know many say only lease the Leaf but I would rather own a car at the end of the day (assuming the battery isn't losing much capacity). I assume Nissan would sell the car, at the end of the lease term, but would you actually end up owing more by leasing then buying or the other way around?

 

[cwerdna]

Corina1231, read many of your posts here and definitely would love to hear your take - given that the residual going down to 58% as I was offered, what's an obtainable total cost of ownership for SV with QC, 2 year lease, non-vpp? FWIW, after I told the dealer I was walking away from the $9600 figure, he did say $8000 is possible but that would be it. Would you advise settle on $8000? Thanks

Jinhui, I don't want the Forum discussion to become too particular and specific to my area and yours, so if you want to communicate privately just "pm" me.

I don't mind. You're in the same city as I am and we (3) all would likely be going to the dealers in the same geographic area.

 

[Corina1231]

Corina1231, read many of your posts here and definitely would love to hear your take - given that the residual going down to 58% as I was offered, what's an obtainable total cost of ownership for SV with QC, 2 year lease, non-vpp? FWIW, after I told the dealer I was walking away from the $9600 figure, he did say $8000 is possible but that would be it. Would you advise settle on $8000? Thanks

Jinhui, I don't want the Forum discussion to become too particular and specific to my area and yours, so if you want to communicate privately just "pm" me.

I don't mind. You're in the same city as I am and we (3) all would likely be going to the dealers in the same geographic area.

Ok, contact me through the pm and we can discuss how you, if your credit is Tier 0 or 1, can secure a Leaf for under dealer invoice in our city.

 

[Corina1231]

People on this Forum have leased the Leaf S model for as low as ZERO down and $199 a month.

I didn't need to spend years in the car business or MBA school to learn what every astute consumer knows, that MSRP and price points have no bearing on what people pay for a car. I can walk into a dealership in San Jose tomorrow and get a Leaf at $500 or more under dealer invoice. I have no experience with the Spark. I haven't a clue whether a Chevy Spark would sell for more or less in a given market than a Leaf because I haven't researched what people are actually paying for the Spark. But, guess what? Neither do you. Advertised lease prices do not dictate what people are actually paying for a car, anymore than you or I.

$199 at $0 down sounds like a very, very good deal. When one does something like this, what can be expected to be the cost at the end of the lease to buy the car outright. I have never leased a car, and have always bought. I know many say only lease the Leaf but I would rather own a car at the end of the day (assuming the battery isn't losing much capacity). I assume Nissan would sell the car, at the end of the lease term, but would you actually end up owing more by leasing then buying or the other way around?

The residual is a percentage set by Nissan, not the dealer. So whatever price the dealer leases the car at, the residual percentage is the same. And, yes, I am in the camp of all the people who would NEVER PURCHASE a Leaf at this point (the residual has decreased twice in three months for a reason, or should I say, a lot of reasons).