Dealer solicitation of buy-out?

[jjgilham]

I got this yesterday via email from a local Nissan Dealer. I have a 3-year on a 2013 that comes up in October. I did not lease the car from them although I have gone there for service.

Bellevue Nissan is currently having a Leaf Blow Out Sale.

Get into a new 2016 Nissan Leaf for $0 down, $210 per month. CLICK HERE for details.

Or, you can purchase your existing Nissan Leaf that you leased for up to $8500 off your payoff and pay no WA sales tax.

Please let me know if you have any questions or would like to set up a time to come in and meet with me.

Best Regards,
Randy

Oddly enough, the "Click Here" did not work in the email, which made me a little suspicious. The email address also did not work, although Randy Haxson is the internet sales guy at Bellevue Nissan. I wonder if I just clicked a virus into my computer?


Questions:

1) Has anybody else been solicited by a dealer for buy-out? I thought buy-outs were done direct with NMC. $8500 off residual if real is the best deal I've heard.
2) Can these residual buy-outs only be done at lease end or can you do it early?
3) $210 per month, 0 down also seems like a really good deal to me. Anybody getting a deal this good or is this bogus?

 

[jjgilham]

A little additional information. I called the dealer I bought the car from and I found out the following:

1) The current remaining balance on this car is $15640.
2) For March, the incentive is $7500 for 2013 Leafs.
3) I could buy this car today for $15640 - $7500 + $201.35 (Reg and Doc Fee) which totals out to $8341.35.. So apparently it is not necessary to wait till end of lease (which is nice as it displaces $920 worth of lease payments).
4) Not too bad for a 12 bar, (39K miles) car, carefully driven in Seattle.

What are opinions of this deal?

 

[RonDawg]

That sounds like a pretty good deal. My 11-bar 2012 SV was recently on sale at CarMax for $10k, reduced to $9600, then was removed (not sure if it was bought, or sent to auction).

 

[aarond12]

If you're happy with the car and it suits your needs, $8500 for a vehicle is cheap. Avoiding paying $920 in lease payments makes it all the better. I would do it personally.

 

[DuncanCunningham]

If you're happy with the car and it suits your needs, $8500 for a vehicle is cheap. Avoiding paying $920 in lease payments makes it all the better. I would do it personally.

+1

 

[TomT]

If Nissan had offered a decent buyout on my 2011 lease, I would have kept it. There were willing to offer no incentive and I laughed at the quoted $11,700 buyout figure... So, now it is on its way to auction where they will get a mere pittance instead! Idiots!

 

[user 10599]

Sounds like a good deal to me. Considering the saved lease payments, you are looking at a net of $7,100ish for a 2013 Leaf with 12 bars that you have full history on. If that is indeed what you are being offered, that seems pretty good.

 

[xbox409]

Got a letter from Nissan today also offering $7500 off for my 2013 Leaf. I still have all 12 bars, but I found the miles on the guess-o-meter decrease more quickly than before. Since I have an S, I am not sure how to get a read out for the battery health. Would 2013 also get covered by the Nissan Battery replacement? If so, with $7500 off the buy out price seems not a bad choice.

 

[RonDawg]

Got a letter from Nissan today also offering $7500 off for my 2013 Leaf. I still have all 12 bars, but I found the miles on the guess-o-meter decrease more quickly than before. Since I have an S, I am not sure how to get a read out for the battery health.

Leaf S, SV, or SL, doesn't matter. Get an OBDII adapter and an app such as LeafSpy.

Would 2013 also get covered by the Nissan Battery replacement?

Yes. However, if you still have 12 bars on your 2013, unless you move to Phoenix or Palm Springs right away, you're unlikely to lose 4 bars before the warranty is up.

 

[user 10599]

I guess one way to look at the $7500 off is that Nissan is effectively paying for one battery change for the car.

 

[jjgilham]

Thanks for all the feedback. I agree it is a pretty nice deal and hard to pass up. My total out-of-pocket on the car would be $18477 which is quite good.

Down $3000
Sum of Lease payments $7136
Buy-out offer $8341
Total out of pocket $18477

Additional Expenses

L2 EVSE $675
L2 installation $300
Tires at 30K $500
Service over 2.5 years $100

Fuel Savings vs 18 mpg car $4900

 

[Reddy]

^^^ As long as the range of your 2013 Leaf works for you, then keep it. It should work forever in Seattle. Over here in E.WA, where it's a bit warmer, I measured two 2013's and the batteries were 98% and 95% (32,000 mi). In Seattle you will have essentially zero thermally-induced degradation and you are just looking at cycle and calendar degradation. If you drive 12,000-15,000 mi per year, you will probably be good until 2020-2025. In such a case, you will easily have the lowest total cost of ownership.

However, if the range doesn't work for you, remember there will be lots of 200 mi EV's coming on-line in the next few years. The depreciation on a 80 mi Leaf will be SIGNIFICANT, so don't expect any value from resale. You might use it until 2020, and then switch to a 3 yr old 200 mi Bolt/Leaf/Tesla/Other (if these really are released in 2017).

 

[FlatBillz]

Has anyone heard any buyout discounts on a 2014 Leaf? My lease is up April 26 and I have been 100% sure I would return it after looking at the high residual and amount of leafs with low mileages on ebay, carvana, etc..

Residual on mine is $16,596..

Overall, the car is good for a commuter and only has 15k, have not lost any charge or anything..

Going to call the dealer today..

 

[FlatBillz]

Dealer mentioned $4,500 off 2014 Leaf residual..

Doesn't seem good enough

 

[ba49]

I called Nissan credit this morning after reading the post as I have a 2013 Leaf S leased until Dec. of this year. I asked for my payoff and they told me $14000. and change. I then asked if there was some kind of incentive program for a buyout and they said they would check? Another person came on and said yes there is $7500. until May 2. She said I needed to go through a dealer so I went up to the dealer I leased it from. I said I was interested in paying off the lease and purchasing the car ( I only have 5700mi. so it's like new). They said fine and quoted the $14000+ pay off. I told them I wasn't interested at that price but I was told that there was a rebate. They didn't know about it so they called Nissan Credit who FINALLY after going through several people again told the dealership Finance Manager that there was a $7500. rebate on 2013s and $9500. on 2012s being bought off lease. I also found out that the dealers receive an additional $1500 for handling it which is why I'm sure the OP received his email from another dealer. Worked out great for me as I ended the lease early and got a practically new car for a $6700. payoff + tax and title transfer. It works out to a total of about $17000. for a basically new car which I really like. It has all 12 bars showing and charges to 100% and shows 105 Mi on the guessometer. It seemed like a no brainer for me.

 

[Foschas]

Thanks for all the feedback. I agree it is a pretty nice deal and hard to pass up. My total out-of-pocket on the car would be $18477 which is quite good.

Down $3000
Sum of Lease payments $7136
Buy-out offer $8341
Total out of pocket $18477

Additional Expenses

L2 EVSE $675
L2 installation $300
Tires at 30K $500
Service over 2.5 years $100

Fuel Savings vs 18 mpg car $4900

Seems like a good deal. Does your fuel savings figure include the cost of electricity?

 

[jjgilham]

Yes - fuel savings includes cost of electricity which is 9.9 cents per kWh in Seattle.

I calculate this monthly as follows:
PPG = Price Per Gallon (I use Cheap Gas website and take the lowest number in my area)
MIles = Miles driven in the month
kWh = monthly kWh from meter on charger
18 = I had an 18 mpg vehicle previously

Monthly Gas Savings = (Miles / 18) * PPG - kWH * .099

I do 99% of my charging at home but when I charge on the local infrastructure I just add the kWh from the charging session to my monthly kWh and treat it like it came from my outlet. I charge on the network so little that it makes very little difference.

 

[paulk]

I recently bought out my 2013 Leaf SV with $ 7500 credit offer.
pay off was $ 15600 at that time, ended up buying for $ 8100 through the local Nissan Dealer.
48,000 miles with 11 bars and running strong here in warm southern cal. love my leaf.

Dealers typically don't know anything about this program. you'll have to ask them to call Nissan Finance and they will explain the deal over the phone for you. I spent about an hour signing papers on terminating my current lease and purchasing.