2013/2014 Nissan Leaf Lease Information

[bradbissell]

Based on the history of the 2011 & 2012 models can we assume that the money factor will slowly drop though out the year? Is Nissan basically screwing the early adopter (aka maximizing profit) due to low availability?

 

[evnow]

Based on the history of the 2011 & 2012 models can we assume that the money factor will slowly drop though out the year? Is Nissan basically screwing the early adopter (aka maximizing profit) due to low availability?

Unlikely.

The reason they had to drop MF etc to make it attractive to the '12 buyers was that, MSRP to start with was very high (exchange rate problem). So, instead of dropping MSRP, they dropped the monthly figures by other means.

I don't think they will drop MF on '13, unless they are forced to because of low sales.

 

[evnow]

I've calculated some more numbers to help understand the lease better.

These are numbers without any tax etc.

 

[nsps]

Based on the history of the 2011 & 2012 models can we assume that the money factor will slowly drop though out the year? Is Nissan basically screwing the early adopter (aka maximizing profit) due to low availability?

As someone who recently chose not to lease a 2013 Leaf, favoring a more affordable EV option, I don't necessarily think it's fair to say Nissan is screwing the early adopter. The company has every right to try to maximize profits for an in-demand vehicle. If it stays in demand, all the better for the future of EVs (but worse for us prospective purchasers). If not, prices will naturally lower as they try to get more vehicles on the road and clear inventory for a new model. Early adopters always pay more for the priviledge of getting the technology first.

 

[evnow]

I agree with SanDust. It is my experience that is ALWAYS cheaper per mile to do a 3 years, 36k over a 2 year 24k lease offer by the SAME dealer on the SAME vehicle.

Not really. Because of the way Nissan has structured the lease, 24 months is indeed cheaper than 36 months. Look at the zero down figures I've posted below - 24 months is uniformly better than 36 months.

ps : Ofcourse, tax + registration etc may tilt the balance in favor of 36 months. But then, you are driving an older car for the 3rd year and thus, it is not an apples to apples comparison.

 

[timhebb]

I agree with SanDust. It is my experience that is ALWAYS cheaper per mile to do a 3 years, 36k over a 2 year 24k lease offer by the SAME dealer on the SAME vehicle.

Not really. Because of the way Nissan has structured the lease, 24 months is indeed cheaper than 36 months. Look at the zero down figures I've posted below - 24 months is uniformly better than 36 months.

ps : Ofcourse, tax + registration etc may tilt the balance in favor of 36 months. But then, you are driving an older car for the 3rd year and thus, it is not an apples to apples comparison.

I would like to see your chart take into consideration the $2,500 CA rebate for 36-month leases, which amounts to a reduction of almost $70/mo. averaged over the full lease term. The math is too dizzying for me and I don't trust my results. But a quick mental calculation suggests the 24-month lease is still cheaper for a model S or SV (with VPP + Loyalty discounts), but the SL is a few dollars cheaper per month when factoring in the CA rebate. Anyone?

 

[neoplasticity]

Based on the history of the 2011 & 2012 models can we assume that the money factor will slowly drop though out the year? Is Nissan basically screwing the early adopter (aka maximizing profit) due to low availability?

As someone who recently chose not to lease a 2013 Leaf, favoring a more affordable EV option, I don't necessarily think it's fair to say Nissan is screwing the early adopter. The company has every right to try to maximize profits for an in-demand vehicle. If it stays in demand, all the better for the future of EVs (but worse for us prospective purchasers). If not, prices will naturally lower as they try to get more vehicles on the road and clear inventory for a new model. Early adopters always pay more for the priviledge of getting the technology first.

I'm curious as to what EV option is more affordable than a Leaf. I was going to lease the leaf because it was the cheapest EV option I knew of.

 

[nsps]

Based on the history of the 2011 & 2012 models can we assume that the money factor will slowly drop though out the year? Is Nissan basically screwing the early adopter (aka maximizing profit) due to low availability?

As someone who recently chose not to lease a 2013 Leaf, favoring a more affordable EV option, I don't necessarily think it's fair to say Nissan is screwing the early adopter. The company has every right to try to maximize profits for an in-demand vehicle. If it stays in demand, all the better for the future of EVs (but worse for us prospective purchasers). If not, prices will naturally lower as they try to get more vehicles on the road and clear inventory for a new model. Early adopters always pay more for the priviledge of getting the technology first.

I'm curious as to what EV option is more affordable than a Leaf. I was going to lease the leaf because it was the cheapest EV option I knew of.

I ended up with an i-MiEV SE premium for zero down and $155/month after tax, with no disposition fee or other extra fees. However, not everyone in this site's sister forum (I think an automatic link to it will appear in the previous sentence) has been able to get that deal. Others have gotten leases for even less, albeit for more stripped-down trims. I got a call from the dealer at the end of February offering me the deal, so I took it.

The i might not fulfill all your needs and lacks some of the Leaf's features, but it meets my needs and is really fun to drive. The only feature I really regret not having is a heated passenger seat, but for half the price I'm quite happy with it.

 

[w6vms]

With VPP pricing, a 2013 SV with cargo/floor mats and splash guards (ie, minimum optionals) was quoted to me earlier today as $212/mo with $923 due at signing for fees/taxes/planet alignment/whatever for 24 months with 15,000 miles/year.

Residual value is 62% and money factor is 0.00200. Location is Raleigh, NC.

Is this a good deal? OK deal? bad deal?

Thanks!

 

[Corina1231]

W6vms writes:

With VPP pricing, a 2013 SV with cargo/floor mats and splash guards (ie, minimum optionals) was quoted to me earlier today as $212/mo with $923 due at signing for fees/taxes/planet alignment/whatever for 24 months with 15,000 miles/year.

Residual value is 62% and money factor is 0.00200. Location is Raleigh, NC.

Is this a good deal? OK deal? bad deal?

Thanks!

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W6vms, welcome to the board. Thanks for sharing your quote. I love Leafs and math so I'll be glad to crunch the numbers for you.

Down ($923) plus total of payments ($212 x 24 = $6011) plus disposition fee in Nissan contract ($395) equals total cash outlay of $6406.

That is your total cost UNLESS your first month payment is included in your $923 down payment, which would change your total amount of payments to $212 x 23 = $5799, making your total outlay $6194.

Compare this to the nice deal Leafinthepark just landed on a similar 24 month, 15k a yr. lease of a 2013 SV in MN of $5945.

Best of luck!

Ron (Corina1231)

 

[evnow]

Residual value is 62% and money factor is 0.00200. Location is Raleigh, NC.

Did you get invoice-$1000 VPP price ? Then, it is a good deal.

 

[Corina1231]

w6vms wrote:
Residual value is 62% and money factor is 0.00200. Location is Raleigh, NC.

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Evnow writes:
Did you get invoice-$1000 VPP price ? Then, it is a good deal.

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I generally agree with Evnow that the VPP lease is a "good deal". Having been a new car sales manager and monitoring this site for six months, however, I still believe that a good negotiator can often get a better deal. Other factors include demand, supply, how the cars are moving, unpublished manufacturer to dealer kickbacks, and dealer end of month flooring costs. Tsowens (who leased from Sunnyvale Nissan in CA which presently has 86 Leafs in stock) and Leafinthepark (who played two dealers against each other in MN) got great deals. I think you should be able to at least equal Leafinthepark's VPP deal on a 2013 SL.

I would never just trust the dealer. The dealer's (and commission salespeople who turnover at an astounding rate) main objectives are to make as much money off each customer and make them feel like they got a good deal, in that order. One thing dealers do is throw dealer floor mats and other extras in the car at retail price (generally 2 to 3 times their cost) so they make more money on the VPP deal. That might account for your higher quote.

Best of luck!
Ron

 

[w6vms]

Down ($923) plus total of payments ($212 x 24 = $6011) plus disposition fee in Nissan contract ($395) equals total cash outlay of $6406.

That is your total cost UNLESS your first month payment is included in your $923 down payment, which would change your total amount of payments to $212 x 23 = $5799, making your total outlay $6194.

Compare this to the nice deal Leafinthepark just landed on a similar 24 month, 15k a yr. lease of a 2013 SV in MN of $5945.

The initial payment does include the first lease payment, so I'm not that far off from what Leafinthepark got.

Thanks!

 

[Corina1231]

Down ($923) plus total of payments ($212 x 24 = $6011) plus disposition fee in Nissan contract ($395) equals total cash outlay of $6406.

That is your total cost UNLESS your first month payment is included in your $923 down payment, which would change your total amount of payments to $212 x 23 = $5799, making your total outlay $6194.

Compare this to the nice deal Leafinthepark just landed on a similar 24 month, 15k a yr. lease of a 2013 SV in MN of $5945.

The initial payment does include the first lease payment, so I'm not that far off from what Leafinthepark got.

Thanks!

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Sounds very good then! What I next would do if you want the car is confirm with the dealer that there are "no hidden costs, taxes or anything else", preferably by email to have it in writing, or phone because you want them to say "no" and they'll tell you anything over the phone to get you back in. Make it clear that you are only focused on "how much you are paying for the car over the term of lease".

If all is good so far, go in and make THAT deal on THAT car. Avoid the "bait and switch" to a different car with more dealer expensive dealer added items so you get lost in the new numbers. Politely say "thank you" when your salesperson congratulates you and shakes your hand. Don't sigh of relief or let your guard down now because its not over. That nice finance manager (and they are ALL nice) is about to try to pick your pocket and they are very good at it. Avoid the coffee and sugary doughnuts you are offered and settle on water if you are thirsty and a bathroom break to gather your thoughts while you wait to go into the final battle for your money in the finance office.

Two important things to remember now: first, don't get emotionally attached to the car (or your salesperson, who is your new best friend even though you'll never see her again because she will likely be gone by the next visit you make to the showroom), and second, don't have your spouse or anyone else with you in the finance office (so you can walk out easier if necessary, if you know what I mean). Then, if you are a real grinder, when you are in the finance office and the finance manager "surprises" you with the $395 disposition fee at the end of the lease, you say no way and that you never accounted for that number or you would bot have agreed to other numbers, and get up to walk out. Your objective is to try to get them to waive the fee like Kumar's friend did in TX or to take the equivalent cost off your down or monthly payment like they agreed to do on my lease. It's only fair! It is nothing but a hidden cost that the didn't tell you about and they are banking that you'll just accept they're explanation that "it is standard in all Nissan Leases". If they then say, "we'll that only applies if you turn the car in and don't buy it or lease or lease another car from us", tell them that is exactly your plan.

Of course, almost everyone just goes along and agrees to it because they or their spouse are emotionally attached to the car (which is why your spouse stays outside), think they got a good deal so what the heck (after all, he said it was "standard"), are generally adverse to conflict, are uncomfortable or are not really good or used to negotiating (especially we Americans), would feel bad walking out because the salesperson has worked so hard or maybe you've seen the picture of his kids on his desk (real or borrowed from his sister), or just have just been beaten down by now by the stress or time at the dealership. Believe me, if they let you walk out now you REALLY had the best deal and were leaving nothing on the table!

Most likely, though, they won't let you walk but will offer to split the difference or make it up elsewhere. Be careful, they love to offer you a product or service (like mats or splash guards or a free oil change) which costs them little but they say is of an equivalent cost, in lieu of money. Don't worry if they don't stop you from walking out. If your deal was available then it always will be. They want the sale worse than you do. Just swallow you ego and pride and change your mind, then or later.

Lastly, I recommend you don't buy tints, service packages or anything else that day from that finance manager. Everything is overpriced and remember that's how a good finance manager makes themselves and their boss money. You can always change your mind if you really still want to buy it when you are more composed a week later. But don't expect your salesperson or the same finance manager to greet when you come back! I know you think I'm being facetious, but honest to God neither my salesperson or the sales manager was still at my dealership a month later when I stopped in. Instead, I was asked questions like "Daryll who" and "Nathan who, do you have a last name" by 3-4 other new eager beavers before I could get in the door! Such is the car business - outside of technological advances, it hasn't changed much in 25 years since it was my world.

Best of luck!

Ron

 

[evnow]

I generally agree with Evnow that the VPP lease is a "good deal". Having been a new car sales manager and monitoring this site for six months, however, I still believe that a good negotiator can often get a better deal.

It may be possible to get better than VPP, if someone negotiates well and the dealer really wants to sell.

Good thing about VPP is that it involves no negotiation. That makes VPP a good deal.

BTW, locally my nearest dealer is putting a "market adjustment" of $4k above MSRP. Good luck getting a deal better than VPP in this kind of market !

 

[DaveinOlyWA]

I generally agree with Evnow that the VPP lease is a "good deal". Having been a new car sales manager and monitoring this site for six months, however, I still believe that a good negotiator can often get a better deal.

It may be possible to get better than VPP, if someone negotiates well and the dealer really wants to sell.

Good thing about VPP is that it involves no negotiation. That makes VPP a good deal.

BTW, locally my nearest dealer is putting a "market adjustment" of $4k above MSRP. Good luck getting a deal better than VPP in this kind of market !

is this on leases too? I checked 2 Ford Dealers on the Fusion Energi and they are adding either $2500 or $5000 "market adjustment" as well for sales. dont know about leases because I did a quick exit after seeing that.

 

[evnow]

is this on leases too? I checked 2 Ford Dealers on the Fusion Energi and they are adding either $2500 or $5000 "market adjustment" as well for sales. dont know about leases because I did a quick exit after seeing that.

Ford has a similar deal called "x plan". See if your employer qualifies for that.

In anycase, a dealer can select to accept the vpp (for Nissan) or x plan (for Ford) - or not. Entirely upto the dealer. My local Ford dealer said they will take x plan if I special order - not for Enrgis they already had on the lot.

 

[w6vms]

I generally agree with Evnow that the VPP lease is a "good deal". Having been a new car sales manager and monitoring this site for six months, however, I still believe that a good negotiator can often get a better deal.

It may be possible to get better than VPP, if someone negotiates well and the dealer really wants to sell.

Good thing about VPP is that it involves no negotiation. That makes VPP a good deal.

BTW, locally my nearest dealer is putting a "market adjustment" of $4k above MSRP. Good luck getting a deal better than VPP in this kind of market !

I picked up my '13 SV yesterday, and my appointment started a bit later than scheduled because they were closing on other Leaf sales. These cars are moving well it seems, the VPP deal was pretty good, and I really detest the car buying experience.

I did not get any of the optionals, including the doom and gloom Simoniz glass coat that I should've got (now I guess my car will just melt away).

 

[Corina1231]

W6vms wrote:

I picked up my '13 SV yesterday, and my appointment started a bit later than scheduled because they were closing on other Leaf sales. These cars are moving well it seems, the VPP deal was pretty good, and I really detest the car buying experience.

I did not get any of the optionals, including the doom and gloom Simoniz glass coat that I should've got (now I guess my car will just melt away).

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Congratulations!

It would help all of us if you would now share the details of the VPP deal you got on the SV.

If it was a lease then what was the term, miles, how much down, total of payments and turn in fee?

If you purchased it, as you may have since they were trying yo sell you Simoniz, what was the price out the door?

That's why we all go to the board and work together to help each other. I, personally, want to lease another leaf in June and hope my employer qualifies me for the VPP, along with my Nissan loyalty rebate.

Cheers!

Ron

 

[Corina1231]

I generally agree with Evnow that the VPP lease is a "good deal". Having been a new car sales manager and monitoring this site for six months, however, I still believe that a good negotiator can often get a better deal.

It may be possible to get better than VPP, if someone negotiates well and the dealer really wants to sell.

Good thing about VPP is that it involves no negotiation. That makes VPP a good deal.

BTW, locally my nearest dealer is putting a "market adjustment" of $4k above MSRP. Good luck getting a deal better than VPP in this kind of market !

Evnow,

Thanks for posting. Based on your comments, it sounded like you might have a seller's market on Leafs in WA state. But when I went online to one Seattle dealers (Car Pros Burien) website and they had a couple dozen new 2013 Leafs in stock, many of which were on sale/lease for $9300 BELOW MSRP ($7500 of which is the Fed Rebate):

2013 Nissan LEAF
SV 4 Dr Hatchback
MSRP: $34,335 NOW: $25,028
TOTAL SAVINGS: $9,307 OFF MSRP

Don't get me wrong, you have a history of giving good and accurate information on this thread and I respect your opinions highly. And we know dealers can juggle other numbers around on the lease to make us pay more. It's just that others have recently posted great deals on Leaf leases her in CA and elsewhere so your info was the first I've heard that maybe the dealer was now getting the upper hand.

I'm particularly interested because I'll be leasing my next Leaf in CA in June when my daughter get her license and summer job. We run our cars off our solar at home. Naturally, I am trying to figure out how to get a great thee year lease deal similar to the one I fortunately landed on my 2012 SL last October when they closed them out with an extra $2000 Nissan rebate. That was on top of the Fed rebate of $7500 and the $2500 state rebate. I'm hoping this time that my employer (State of CA) qualifies for me for the VPP and that I also qualify for the loyalty rebate, on top of the Fed and State.

Tsowens landed a great non-vpp lease on a 2013 S at the Sunnyvale CA dealer near my house in San Jose. They have 86 Leafs in stock presently, more than Boardwalk's 67 Leafs about 20 miles up the road in Redwood City. I believe from reading the posts and Tsowens and my deals that Northern CA traditionally has some of the best Leaf lease deals around. I have been monitoring March sales as best I can but I have no real opinion on how well they are moving. We will all get the March sales numbers soon. Of course, I am curious because they will help determine the next deal I get.

I really appreciate all of your input, both data and analysis. I have also tried to give my best advise based on the time I spent in the business years ago and my monitoring of Leaf lease deals for the past six months. You've helped alot of people on this thread and I hope you'll continue to post regularly.

Cheers!
Ron