The auction prices show their residual guesses were crazy high.lshaw7878 said:... Perhaps Nissan took a real beating over the last several years with most Leafs being leased, and the new business plan is to raise significantly The number sold. Any thoughts?
The low payments quoted above are the result of applying the $7,500 federal rebate (leasing company takes it instead of you) and heavy discounting by Nissan. Low monthly payments below $200 for a $36,000 car and $11,000 to buy at lease end. Many on this forum who leased three years ago had higher payments and $20,000 residual.tce said:Robert, the low residual values are generally bad for buyers. You will generally be better off with a higher residual value. See https://www.fightingchance.com/auto_leasing.php for the math. You are probably thinking that the low residual is like a low-priced call option, but you are paying for that dollar-for-dollar (plus interest) in the monthly payment. All other things equal, you will always be better off with a higher residual value. However, if residual value declines are matched (or exceeded) by a concomitant decline in the capitalized cost (can't speak to this, but I'm guessing they haven't been), then such a decline would be good for buyers for the call option value.
EVforRobert said:Notice the very low residual of the above lease. That is the best part of the deal IMO.
This is a real lease with low residual and low payments, the result of heavy discount and the lessor taking the $7500.Nolansdad said:I picked a 2015 SL from Hayward Nissan yesterday. I worked with Kaylee ([email protected]).
They had by far the best price and made the buying experience truly one of the easiest I have ever had. Totally upfront and honest about the pricing and fees. None of the "come down and lets talk" BS that I got from many of the other dealerships. Finance person was also great. No hard sell on paint protection and other stuff. Even suggested I put some items on my credit card so I could avoid the interest and tax that I would get hit with if I rolled into lease.
They had a White SL for $189/mo that I passed on for silver.
Silver SL
Premium Package
$3,500 out the door (lic, tax, fees, tax, first payment)
$219/mo ($239 w/ tax)
36k miles
$31,590 Price
$13,344 Cap Cost Reduction
$18,920.24 Adj Cap Cost
$11,038.85 Residual
$599 for prepaid wear and tear.
They have a bunch of Leafs available, so ping her today and she can hook you up with a killer deal and great service.
(Updated w/ Mileage)
EVforRobert said:This is a real lease with low residual and low payments, the result of heavy discount and the lessor taking the $7500.Nolansdad said:I picked a 2015 SL from Hayward Nissan yesterday. I worked with Kaylee ([email protected]).
They had by far the best price and made the buying experience truly one of the easiest I have ever had. Totally upfront and honest about the pricing and fees. None of the "come down and lets talk" BS that I got from many of the other dealerships. Finance person was also great. No hard sell on paint protection and other stuff. Even suggested I put some items on my credit card so I could avoid the interest and tax that I would get hit with if I rolled into lease.
They had a White SL for $189/mo that I passed on for silver.
Silver SL
Premium Package
$3,500 out the door (lic, tax, fees, tax, first payment)
$219/mo ($239 w/ tax)
36k miles
$31,590 Price
$13,344 Cap Cost Reduction
$18,920.24 Adj Cap Cost
$11,038.85 Residual
$599 for prepaid wear and tear.
They have a bunch of Leafs available, so ping her today and she can hook you up with a killer deal and great service.
(Updated w/ Mileage)
How does low payments + low residual = bad?
You left out the $2500 back from the state. You need to consider all factors to decide if the deal is good. I failed? That's a little harsh. Put away your calculators everyone. I choose to spend as I wish. My thoughts are my own.DaveinOlyWA said:EVforRobert said:This is a real lease with low residual and low payments, the result of heavy discount and the lessor taking the $7500.Nolansdad said:I picked a 2015 SL from Hayward Nissan yesterday. I worked with Kaylee ([email protected]).
They had by far the best price and made the buying experience truly one of the easiest I have ever had. Totally upfront and honest about the pricing and fees. None of the "come down and lets talk" BS that I got from many of the other dealerships. Finance person was also great. No hard sell on paint protection and other stuff. Even suggested I put some items on my credit card so I could avoid the interest and tax that I would get hit with if I rolled into lease.
They had a White SL for $189/mo that I passed on for silver.
Silver SL
Premium Package
$3,500 out the door (lic, tax, fees, tax, first payment)
$219/mo ($239 w/ tax)
36k miles
$31,590 Price
$13,344 Cap Cost Reduction
$18,920.24 Adj Cap Cost
$11,038.85 Residual
$599 for prepaid wear and tear.
They have a bunch of Leafs available, so ping her today and she can hook you up with a killer deal and great service.
(Updated w/ Mileage)
How does low payments + low residual = bad?
your questions arise because you have not considered the full picture. Not sure I can say anything that will make a difference to you since several have already tried and failed.
what you have is $3500 plus 35 payments of $219 or $11, 165
now what I have is 35 payments of $245.75 minus a "overpayment" check (didn't mention a downpayment because there was none) of $137.53 for a total of $8463.72
now some clarification; I have a 2013 S with a charge package so different lease terms and I also have 15,000 miles which adds to the lease cost at the rate of 10 cents per mile over the deal above but my price, although slightly higher was nearly the same. I had no sales tax and my adjusted cap cost is $20,990.75 (which should be more than enough to account for the sales tax difference)
I leave you this to consider your "good" deal
$3,500 out the door (lic, tax, fees, tax, first payment)
$219/mo ($239 w/ tax)
LeftieBiker said:Robert, you didn't do badly, and if you love the car and want to buy it, you got a good deal because of the low residual.
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