Lease takeover question

[cwerdna]

The '19 Leaf I see at https://www.swapalease.com/lease/details/2019-Nissan-LEAF.aspx?salid=1547553 is a bit goofy in that it looks like he wants me to pay him $3500 down in order to take over the lease. To me, that's a bit unusual or unorthodox. It should be 0 or the other way around (which some people do). After all, if nobody takes over his lease, he's liable for the rest of the payments or terminate it early or to do whatever he needs to do to buy it out early... I'd be more inclined to take it if I didn't have to also pay $3500.

Of course, I can't ask unless I have a buyer membership, now $39.95. I wonder if it'll go lower or get umm... extended/offered again.

Things are premature on my side. Haven't gotten any numbers from GM yet.

The car vanished at least a few days ago and never entered pending nor "sold" state. So, I guess I'm glad I didn't waste my $... maybe. I wonder if they gave up or found someone else to take it over thru other means.

It's not like that site is a gold mine of Leaf lease takeovers. There's a whopping 1 actual one available for that, all the way in Florida (https://www.swapalease.com/lease/details/2021-Nissan-LEAF.aspx?salid=1554425). He seems to want to be paid $2000.

 

[cwerdna]

Question for you. Would you consider keeping the bolt if GM offers to replace the battery pack with one without issues?

A GM source told me that GM and LG were planning on offering new battery packs. In fact he told me to go buy a used bolt now at depressed prices so when packs are available I would get one.

Edit: I just looked at bolts for sale. In this crazy market it doesn’t look like prices are depressed.

They already are offering that. Folks with '17 to '19 Bolts, including mine received this letter: https://static.nhtsa.gov/odi/rcl/2021/RMISC-21V560-4200.pdf. There's another page which I can't find an exact copy of right this moment. It's similar to https://static.nhtsa.gov/odi/rcl/2021/RIONL-21V560-2228.pdf but probably w/o mentioning Ochang, Korea since my batteries didn't come from them.

The problem is timing/when. There was stuff like https://www.chevybolt.org/threads/gm-%E2%80%98not-confident%E2%80%99-lg-chem-will-build-defect-free-bolt-batteries.40324/. Finally, battery production resumed https://media.gm.com/media/us/en/gm/news.detail.html/content/Pages/news/us/en/2021/sep/0920-bolt.html.

But, they have at least 57K in the US '17 to '19 Bolts (see numbers at https://static.nhtsa.gov/odi/rcl/2021/RCLRPT-21V560-5475.PDF) which will all need to have all modules replaced (or the pack replaced). There are more outside the US (see https://gmauthority.com/blog/gm/chevrolet/bolt-ev/chevrolet-bolt-ev-sales-numbers/ which doesn't include Opel Ampera-E). For '20 to '22, they said they planned to replace only the defective modules if they can come up with a validated process to identify those to speed up the process. Then, they also need to produce modules for new Bolt EV and EUV.

IIRC, the total number of '17 to '22 Bolt EV and EUV + Ampera-E (all recalled) worldwide is on the order of ~140K.

They've alluded to needing to prioritize and from https://electrek.co/2021/07/28/everything-we-know-about-the-chevy-bolt-ev-fires/, the '19 Bolts with Korean made batteries (not mine, mine are US) seem to be the riskiest and most dangerous. Nobody really knows how long they will be waiting (how many months or years) but it seems from a safety POV, I won't be at the front of the line and am not sure if they'd bump me further to the front.

flyct: If you're curious, my buyback is further along. I have an entry at https://www.chevybolt.org/threads/repurchase-timeline-survey.41524/ if you search for cwerdna. I'm near the last stages w/RVDC contacting me for additional pics and documentation on 12/2/21, to which I replied w/everything they asked for on 12/3/21.

Also, on Nov 19, 2021, an 80% limiter temp patch came out (search https://www.chevrolet.com/electric/bolt-recall for November 19), which I had applied on 12/1/21.

On 12/7/21, RVDC acknowledged receiving my documentation and said the damage on the rear bumper cover is minor enough that they'll waive it and I don't need to get it fixed. Someone else on chevybolt.org said they're a day ahead of me and were told an ETA of 30 to 40 days for an offer.

But, I have a new wrinkle (https://www.chevybolt.org/threads/repurchase-timeline-survey.41524/page-2#post-673718). My '19 Bolt despite having a US pack suddenly became eligible for a pack (was flipped to N212343881) on 12/3. This is WAY earlier than I expected. I didn't expect to be eligible for at least 6 months if not a year+. Not sure if my buyback will be denied because the pack is available for it.

I've seen two different people say that if you go get the pack replaced your buyback will be closed/denied. So, I'm not doing that. I'm waiting for the offer/rejection first.

After I sent the "powers that be" at my work a receipt of the 80% limiter patch being applied along w/a copy of GM's letter, a bit over a week later, on 12/9/21, I received notification from my work that they're letting me park on the roof of the parking structure but not charge there. More on that at https://www.chevybolt.org/threads/post-when-you-are-notified-to-have-your-battery-replaced.41021/page-30#post-675846 if one cares.

https://www.swapalease.com/lease/details/2020-Nissan-LEAF.aspx?salid=1574575 is promising assuming the kids in the car haven't messed it up and I can remove those stickers w/o damage. I might also need to get the front window tints removed if it's to the point where it's illegal in CA. I prefer to avoid unnecessary interactions and hassles w/LE. I wouldn't be surprised if it gets scooped up before I get a buyback offer.

 

[cwerdna]

So, I finally got an offer on my Bolt buyback from RVDC on 1/7/22 and I submitted my acceptance earlier today, which they've acknowledged. Yay!

After pinging at work, it looks like I might have 3 Leaf lease takeover possibilities now: two folks here on MNL (one local, one in So Cal) and another local (a contractor for many company). The one on Swapalease was up last night but is "sold" now.

 

[Snargleblarg]

Congrats! So glad you are finally getting your buyback. Your posts have shown much patience considering the circumstances.

 

[cwerdna]

Words of warning...

So, RonSwanson and I have been in touch as taking over his seemed like a good bet (other than the distance as he's at least 300 miles away). I called NMAC this afternoon to try to understand the lease transfer process. One of the criteria is a certain # of payments remaining. I asked about one-pay that Ron did. CSR didn't know and had to check w/someone else and the answer was no, they're ineligible. He will be in touch w/NMAC tomorrow (hopefully) to confirm/get clarification. If so, this deal may be a not doable.

Another was that even before this, I asked how long the process would take. They said 4 to 6 weeks! WTF?? I told them I'm getting a car bought back by GM and I will have no other car. Can you speed it up? They saw I had a closed file (from when I leased my first '13 Leaf). I was like ummm... I was a previous NMAC customer and can unfreeze my credit, if needed, the lease is already fully paid, I won't have another car soon, etc.

Hope we can get some clarity on this soon. Just throwing this out there in case anyone is considering doing a NMAC lease transfer or embarking on a lease w/the intent of someone taking it over later.

 

[LeftieBiker]

In this case, you should be able to just pay off the lease with a loan and buy the car. I know that you aren't keen on doing that, but it may make the most sense - IF you are willing to gamble that the used car market stays Hot for a couple more years...

 

[cwerdna]

It depends on how much the current buyout amount is. I'm not too keen on buying a non-Plus Leaf at this point due to CHAdeMO and lack of demand when I tried selling my '13 Leaf. I suspect the magic number of 200+ mile range makes an EV more marketable. At my work, before COVID, most of the employees were buying or leasing EVs were getting Teslas.

It's really hard to know how long this crazy car shortage will last.

Another MNLer who is much closer reached out to me w/his '19 Leaf Plus which is already past his allowed total mileage w/8 months left to go. Problem is, since it's past 36K miles, the basic warranty is over and there's the per mile overages. I've considered taking it over and he said he was willing to help out on the overages (hasn't said how much). But the overages discourage me from taking advantage of the extra range. And, this one was more per $ month too w/o the overages.

Paying the buyout was less than remaining payments + residual but then since I have 0 experience w/the car, I don't know if it has any probs, which to me is risky.

If it turns out to be unreliable, I'd turn it in. If it's ok, I could buy it as the residual wasn't too bad and drive it for awhile before selling. At least the over 200 mile EPA range makes it more marketable, I think but I also worry about difficulty selling. He mentioned it had been rear-ended but repaired but that likely disqualifies it from Carvana, for instance.

I posted a ping looking for Leaf lease takeover elsewhere and got a ping from someone local who wants to get out but I have almost 0 details. Hope they answer my questions soon. If there's no way around NMAC taking 4 to 6 weeks, that might be a dealbreaker and I'd have to get something else (e.g. Niro EV lease thru an auto broker that someone at my work used recently).

 

[LeftieBiker]

Good luck, my man. I agree both that a Plus is better, and that a hit & repaired Leaf is a risk.

 

[cwerdna]

Unfortunately, the takeover from RonSwanson will not work due to NMAC policy of him having no payments left. It's a bummer for both of us. He was also balking over another part of the NMAC liability remaining with the original person, which I don't blame him for. It's a crap policy. I brought this up in 2012 w/my Leaf test drive ride along guy (https://mynissanleaf.com/viewtopic.php?p=428887#p428887) and have complained to NMAC formally before, to no avail.

Still waiting to hear back from the recent local. They were supposed to have checked on Thursday about lease transfer details and speed. Either I'm wrong or she's been misled. I haven't heard back from her yet.

My choices for this are getting smaller.

 

[RonSwanson]

Unfortunately, the takeover from RonSwanson will not work due to NMAC policy of him having no payments left. It's a bummer for both of us. He was also balking over another part of the NMAC liability remaining with the original person, which I don't blame him for. It's a crap policy. I brought this up in 2012 w/my Leaf test drive ride along guy (https://mynissanleaf.com/viewtopic.php?p=428887#p428887) and have complained to NMAC formally before, to no avail.

Still waiting to hear back from the recent local. They were supposed to have checked on Thursday about lease transfer details and speed. Either I'm wrong or she's been misled. I haven't heard back from her yet.

My choices for this are getting smaller.

Their lease policy with the original lease holder always being liable if the 2nd owes and can’t be found or doesn’t pay etc is wild. If they expect the new person to be fully credit checked etc I don’t know why they do this? I can’t imagine anyone who would be ok with this setup.

I am curious how your situation turns out though so I’ll be around here to see. Best of luck!

 

[cwerdna]

Unfortunately, the takeover from RonSwanson will not work due to NMAC policy of him having no payments left. It's a bummer for both of us. He was also balking over another part of the NMAC liability remaining with the original person, which I don't blame him for. It's a crap policy. I brought this up in 2012 w/my Leaf test drive ride along guy (https://mynissanleaf.com/viewtopic.php?p=428887#p428887) and have complained to NMAC formally before, to no avail.

Still waiting to hear back from the recent local. They were supposed to have checked on Thursday about lease transfer details and speed. Either I'm wrong or she's been misled. I haven't heard back from her yet.

My choices for this are getting smaller.

Their lease policy with the original lease holder always being liable if the 2nd owes and can’t be found or doesn’t pay etc is wild. If they expect the new person to be fully credit checked etc I don’t know why they do this? I can’t imagine anyone who would be ok with this setup.

I am curious how your situation turns out though so I’ll be around here to see. Best of luck!

Yeah, it's complete BS! It's off-putting for people who want to lease from NMAC if they know about the policy. It was for me, back in the day. And, it can lead to bad customer satisfaction if they want to get out and find out about it, after the fact. They may never want to lease a Nissan again.

But yeah, if they credit check the second person and do whatever they did for the first, why can't they just release the 1st person? Also, if it really takes them 4 to 6 weeks to transfer, that's insanity. If it took them that long to approve someone doing a new lease, they'd have nobody leasing. I can walk into a dealer and lease a car the same day.

I still haven't heard back from that recent local w/a Leaf SV. I don't want to bug her too many times. I already reminded her once on Friday afternoon hours before NMAC closed.

I am still weighing options. I posted an update about my Niro EV lease shopping at https://www.mynissanleaf.com/viewtopic.php?p=616871#p616871.

I might have to bite the bullet an buy a Leaf as long it's not marked up. :/

Thanks!