2015 Lease Deals?

[LeftieBiker]

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.

Why not just buy it outright then? 0% financing for up to 72 months and $10k in "buy" incentives is still available I think. Considering the lease buyout incentives we saw lately low residual on the Leaf sounds like a bad deal. Having said that, there is a good chance that the days when high residual was offered are over.

Two reasons for not buying it outright: it costs more per month than leasing, and you are locked into the car - you don't know for sure you want to keep a car when you first buy it. Leasing gives you options that buying does not.

 

[DaveinOlyWA]

This is a real lease with low residual and low payments, the result of heavy discount and the lessor taking the $7500.
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

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.
Peace

the validity of the deal is not the point I am trying to make. my point is the same as everyone elses; the higher the residual the better the lease deal... that is all. I simply tried a different method. I thought I clarified that at the beginning.

 

[FresnoFred]

the validity of the deal is not the point I am trying to make. my point is the same as everyone elses; the higher the residual the better the lease deal...

only if you have no intention of keeping the car at the end of the lease.

ceteris paribus (equal downpayment, equal monthly payments) a lower residual is better than a higher residual.

when the salesperson wrote down their offer last week for my new Leaf, they didn't have the residual #.

I checked to confirm it was 29% of MSRP before continuing the discussion, since it's entirely possible I'll buy out the lease for ~$10,000 three years from now.

With this month's end-of-year incentives I got my Leaf for 40% off MSRP, plus local incentives that are 25% more ($5500) off the OOTD price.

Counting operating cost savings, I figure the new Leaf is going to cost me ~$1/day.

One happy camper here!

 

[Flyct]

The $7,500 federal rebate changes the leasing numbers completely which is why 75% of us lease

The reason most people lease instead of buying is because they are focused on "How much a month"

Yes, with the current NMAC lease offers on a Leaf. you get the $10,925 manufactures rebate applied as a Cap Cost Reduction plus some other funny money for a CAP cost reduction of $14,000. BUT if you purchase instead, you easily can negotiate a $11,000 savings i.e., $6,000 discount, $5,000 NMAC cash PLUS $7,500 from Uncle Sam when you file your tax return after January (assuming your tax liability exceeds $7,500) That is an $18,500 savings vs $14,000 on a lease.

Leasing has additional fees that purchasing outright does not. There is a $595 non-refundable Acquisition fee.

If you decide to purchase it at the end of the lease you will pay the residual , a purchase option fee of $300 and sales tax.

If you turn it in at the end of the lease, current NMAC leases require you pay for excess wear and tear plus $0.25 per mile over the agreed upon mileage. You are also subject to a $395 disposition fee at time of contract termination. You are also subject to inspection and paying for excess wear and tear. Fees, Fees, Fees!

If your Taxable Income is such that your tax liability exceeds the $7,500 Federal Tax credit then most times it is to your advantage to buy instead of lease.

Buying gives you flexibility. In the last 15 months I've bought 4 new 2014/2015 cars. I bought a 2014 F150 and traded it in 6 weeks later and took a $700 hit. I bought other F150 Loaded Lariat 4x4, kept it for 10 months and took a $3000 hit, or just $300/month. If these were leases I would have gotten killed.

I just sold a Lexus SC430 to a Lexus dealer and used the check to pay off the 5 day old NMAC loan on my Leaf. Being I owned the SC430 I shopped around for the best offer and/or trade-in deal. Lexus paid me $4,000 more than trade-in or selling outright to CarMax. Of course since I owned it outright there was no Disposition fee, no excess wear and tear and no $300 purchase option.

 

[LeftieBiker]

Buying gives you flexibility. In the last 15 months I've bought 4 new 2014/2015 cars. I bought a 2014 F150 and traded it in 6 weeks later and took a $700 hit. I bought other F150 Loaded Lariat 4x4, kept it for 10 months and took a $3000 hit, or just $300/month. If these were leases I would have gotten killed.

Ah, geez. I suggest that people looking to lease or buy in a more...typical fashion take with salt advice from those who seem to think car dealerships are casinos. ;-) The fact remains that when you lease a car you are spending less up front and not committing to buy a car that may be obsolete (or that you just have grown to hate) than if you buy it. Also, sales tax gets paid (if required) for the purchase regardless of which option you choose, so why pay full sales tax on a vehicle you may not keep?

 

[roto]

Yes, with the current NMAC lease offers on a Leaf. you get the $10,925 manufactures rebate applied as a Cap Cost Reduction plus some other funny money for a CAP cost reduction of $14,000. BUT if you purchase instead, you easily can negotiate a $11,000 savings i.e., $6,000 discount, $5,000 NMAC cash PLUS $7,500 from Uncle Sam when you file your tax return after January (assuming your tax liability exceeds $7,500) That is an $18,500 savings vs $14,000 on a lease.

Do you have any more details on the $14K lease reduction? I'm curious where the extra $3K is coming from as I've seen no references to it before now. Or are you including a dealer discount in that amount?

 

[Flyct]

Yes, with the current NMAC lease offers on a Leaf. you get the $10,925 manufactures rebate applied as a Cap Cost Reduction plus some other funny money for a CAP cost reduction of $14,000. BUT if you purchase instead, you easily can negotiate a $11,000 savings i.e., $6,000 discount, $5,000 NMAC cash PLUS $7,500 from Uncle Sam when you file your tax return after January (assuming your tax liability exceeds $7,500) That is an $18,500 savings vs $14,000 on a lease.

Do you have any more details on the $14K lease reduction? I'm curious where the extra $3K is coming from as I've seen no references to it before now. Or are you including a dealer discount in that amount?

I just took a quick look at the current 2015 Leaf S Incentive page.
Calculating $29,860 MSRP - Net Cap Cost of $15,806 = about $14,000.

$29,860 MSRP
$15,806 (Net Cap Cost)
$2,200 Down Payment
$7,164 (36 Monthly payments)
$8,659 (29% Residua)


"2015 LEAF S Lease
36 Months - $199/Month - $2,399 initial payment.
Excludes taxes, title, and license. $2,399 initial payment required at consummation. (Includes $2,200 consumer down payment, $199 first month payment.) (INCLUDES $10,925 manufacturer's rebate applied to $199/Month lease. Offer valid only when financed through Nissan Motor Acceptance Corporation.) Subject to residency restrictions. 2015 LEAF S Lease model 17015 subject to availability to well-qualified lessees through Nissan Motor Acceptance Corporation. $29,860 MSRP incl. destination charge. Net capitalized cost of $15,806 includes a $595 non-refundable acquisition fee. Dealer contribution may affect actual price set by dealer. Monthly payments total $7,164 At lease end, purchase for $8,659, plus purchase option fee up to $300 (except KS & WI), plus tax, or pay excess wear & use plus $0.15 per mile for mileage over 12,000 miles per year. Lessee is responsible for maintenance and repairs. A disposition fee is due at termination of lease term. No security deposit required. Must take delivery from new dealer stock. See participating dealer for details. Offer ends 11/30/2015."

 

[Flyct]

By the way. If you buy that same Leaf S

$29,860 MSRP
-$5,000 est dealer discount
-$5,000 NMAC CASH plus 0% APR
--------------------
$19,860 contract price
+$ 700 estimated dealer fees
-$7,500 Tax credit
--------------------
$13,060 plus tax, tag title net cost.

I didn't include tax here because I didn't include tax in the lease deal above.

If you decide to sell it one year down the road I think you would not be upside down if you factor in your tax credit. If you had a lease and wanted to walk away it wouldn't be pretty.

 

[roto]

Okay, thanks.

I had seen that breakdown, but I think that $2,200 of the $14K reduction comes from the down payment. I wouldn't consider that to be part of the rebate/incentives, so that would explain why I hadn't seen that much before.

There is still about $900 unaccounted for though, which I'm guessing is the "dealer contribution". Wish I could get the $5K off that keeps getting mentioned though. The best quotes I've gotten have been taking just barely $2K off, whether it's a purchase or lease.

 

[Flyct]

Okay, thanks.

I had seen that breakdown, but I think that $2,200 of the $14K reduction comes from the down payment. I wouldn't consider that to be part of the rebate/incentives, so that would explain why I hadn't seen that much before.

There is still about $900 unaccounted for though, which I'm guessing is the "dealer contribution". Wish I could get the $5K off that keeps getting mentioned though. The best quotes I've gotten have been taking just barely $2K off, whether it's a purchase or lease.

Roto,

Try Truecar for offers. When using PenFed credit union I got this initial guaranteed offer of $4,499 discount via email from Truecar when I input an "S" model. It doesn't even include the NMAC $5,000 cash plus 0% APR if financing with Nissan.

This one is MSRP $32,325
Exterior ColorPearl White
Interior ColorBlack
Options
[B10] Splash Guards (SGD)
[F01] Charge Package (CHA)
[M93] Cargo Net (NET)
[L92] Floor Mats & Cargo Area Mat (FL2)
[M92] Cargo Cover (COV)
--------------------------------------------------------------------
Base MSRP+ $29,010
Factory-Installed Options+ $2,465
Freight Delivery Charge+ $850
Total MSRP+ $32,325
Total MSRP
$32,325
Certified Dealer MSRP Discount- $3,499
Special Offer- $1,000
EXPIRES: 11/02/2015
Guaranteed Savings- $4,499
Factory-Installed Option Discount- $361
Subject to availability of a vehicle matching your preferred options, Lokey Nissan will provide additional savings.
Additional Savings- $361
Your Certified Dealer provides additional savings on options! The amount of this savings will vary depending on the options on the vehicle you purchase. For your configured vehicle, this is $361 off of $2,465 MSRP.

 

[roto]

Ahh! I forgot all about Truecar. I'll have to do some research there tonight to see if I can find a better deal. Thanks!

 

[Flyct]

Ah, geez. I suggest that people looking to lease or buy in a more...typical fashion take with salt advice from those who seem to think car dealerships are casinos. ;-) The fact remains that when you lease a car you are spending less up front and not committing to buy a car that may be obsolete (or that you just have grown to hate) than if you buy it. Also, sales tax gets paid (if required) for the purchase regardless of which option you choose, so why pay full sales tax on a vehicle you may not keep?

Everyone has to evaluate their own financial situation, lease offers, purchasing offers and how long one wants to commit to keeping the car. In my 50 years of driving the Leaf is my 51st car acquisition. 49 of 51 have been purchases and only 2 were leases. I didn't like the leases because I was locked into the leasing company's term, especially if the residual is higher than reality.

Today with 0%-2% interest rates for new car purchases it makes sense to use other other peoples money to buy.

My favorite source of car financing is PenFed credit union. Their rates are as low as 0.99 % APR for up to 36 months when you buy a new car through the PenFed Car Buying Service for any manufacture.

Sometimes manufactures finance arms have excellent incentives just like Nissan has on the Leaf with 0% for 72 months and them contributing $5,000 cash towards down payment.

Bottom line, you have to do your homework and become educated to pick the right deal.

 

[LeftieBiker]

Every time you buy a car and turn around and sell it shortly thereafter, you lose the sales tax you paid, completely. Or is sales tax not collected in your state? If a two year lease is too long a term, then your situation is, at best, atypical.

 

[apacheguy]

Owed 7 payments on 2013 SV at $373.

Leased for 36 months at $376/mo $2500 down payment 12,000 miles/yr 2015 SV with QC.

 

[edatoakrun]

Group-buy Black Friday deal on 2015 Nissan LEAFs in Northern Colorado: $10,600


Consumers in Fort Collins and Loveland, Colo. will have a special group-buy Black Friday opportunity to purchase a 2015 Nissan LEAF for just more than $10,000, saving up to $21,000 off the sticker price...

Tynan’s Nissan will take $9,007 off the LEAF’s retail price. Coupled with a total of $13,500 in refundable electric vehicle tax credits—$6,000 through Colorado’s EV tax credit and $7,500 through the federal tax credit—buyers can expect to spend 65% below the LEAF’s retail price of $32,130.

Northern Coloradans who purchase a LEAF through this group-buy program will also receive 24 months of free EV charging... (and) six free days of an internal combustion engine vehicle rental for longer road trips.

http://www.greencarcongress.com/2015/11/20151125-leaf.html

Details:

http://driveelectricnoco.org/group-buy/

 

[Dougie]

My intention would be to lease, because presumably the many new bigger battery car options on the horizon would make a 2015 car much less desirable by 2018. Question: When you get to the end of a lease, and are considering buying the car, is the purchase price re-negotiable at that point?

 

[Deleted member 9549]

My intention would be to lease, because presumably the many new bigger battery car options on the horizon would make a 2015 car much less desirable by 2018. Question: When you get to the end of a lease, and are considering buying the car, is the purchase price re-negotiable at that point?

I was unceremoniously told this week by NMAC that NMAC is not allowed to negotiate purchase price. Something about not being a dealer. Which was particularly annoying since the purchase price on my 3 yr old 2013 SV is as much as a new LEAF. And the amazing fact that they actually raised the price by reducing a discount.

 

[LeftieBiker]

I put out some feelers to local Nissan Dealers, looking for a 2015 SV to lease. Only Destination Nissan in Albany NY replied. They found me a SuperBlack 2015 SV with Premium, for the max monthly payment I specified: $220. The problem is with the upfront cost!

24 month lease with 12k miles per year would require a downpayment/out of pocket expense of $8002.34

36 month lease with 12k miles per year would require a downpayment/out of pocket expense of $6893.08

The residual on the 24 month term would be $12,176.50 and on the 36 month term $10784.90.


$11,050 in "incentives" are included.

I have to ask for a breakdown of the incentives, to see if VPP is already factored in. Then there is the "Up to $500" coupon I got in the mail. And, because it's NY, there is a substantial sales tax on the lease, which I suspect isn't included in the "out of pocket" costs. If I can get the DP down to $5k, I'd consider leasing the car. At least I could afford to buy this one off-lease...

 

[LeftieBiker]

So, does the $10,500 in "Nissan lease cash" for 2015 Leafs mentioned by the manufacturer's website include the $7500 federal tax credit? How about VPP? I'd like this info, if at all possible, before we (the salesperson and I) resume emailing each other tomorrow.

 

[Deleted member 9549]

I put out some feelers to local Nissan Dealers, looking for a 2015 SV to lease. Only Destination Nissan in Albany NY replied. They found me a SuperBlack 2015 SV with Premium, for the max monthly payment I specified: $220. The problem is with the upfront cost!

24 month lease with 12k miles per year would require a downpayment/out of pocket expense of $8002.34

36 month lease with 12k miles per year would require a downpayment/out of pocket expense of $6893.08

The residual on the 24 month term would be $12,176.50 and on the 36 month term $10784.90.


$11,050 in "incentives" are included.

I have to ask for a breakdown of the incentives, to see if VPP is already factored in. Then there is the "Up to $500" coupon I got in the mail. And, because it's NY, there is a substantial sales tax on the lease, which I suspect isn't included in the "out of pocket" costs. If I can get the DP down to $5k, I'd consider leasing the car. At least I could afford to buy this one off-lease...

OMG. That is so phenomenally expensive I can't believe it.

My reference point, our current lease is for a 2013 SV + QC, 24 months 12k miles/year for $205/mo with $205 at signing. Not $8000, but $205. Thats $7800 cheaper. In fact, our total expense for the 2 year lease including all payments, initial payment and disposition fee is still around $5300.

I guess we're really spoiled and won't see prices like that again. Our residual is $20,000 and not dropping despite extending our lease to be a 3 year lease.

We're currently debating between a year end deal on a VW Golf for $19,000 or ordering a Mini Cooper at close to MSRP at around $23,000.

I'm not sinking serious money into a max 85 mile LEAF with the Bolt, Model 3 and LEAF 2 right around the corner. And Nissan won't let us extend and won't let us buy it as a reasonable price.