Trade-In for Leaf?

[derekjsmith]

I have used an online Escrow service when selling/purchasing big ticket items.

http://www.escrow.com

 

[evnow]

I have used an online Escrow service when selling/purchasing big ticket items.

http://www.escrow.com

0.89% fees - some $160 on a $5K car.

One thing good about ebay is that you can just follow others. Looking around in ebay, most want cash/money order. I'd do the same. May be $500 after auction completion through paypal.

 

[garygid]

1% of $5000 is only $50, so ...
is it more like $45 escrow fee?

 

[evnow]

1% of $5000 is only $50, so ...
is it more like $45 escrow fee?

They say "as little as" 0.89%. But the calculator shows 162.50 for $5K - that is std service. For premier service it is $315. They must be using some kind of tiered rate - lower the Transaction Value higher the rate.

https://www.escrow.com/support/calculator.asp

ps :

$0-$5,000 : 3.25% ($25.00 minimum)
$5,000.01-$25,000 : $162.50 + 0.26% of amount over $5000
$25,000.01 + : 0.89%

pps :

For Paypal it is : 2.9% plus $0.30 USD of the amount you receive.

 

[Leafittome]

Thank you for the responses regarding trade-ins. I've never heard of doing a deal without the trade value being factored in at the front end. Once the dealer has your order, there is zero incentive for them to even offer KBB or NADA wholesale. This does not put the customer in a positive negotiating position. Obviously private sale would be the better alternative, but not everybody has the time to do so.

The California State rebate is not being factored into the deals either and is most likely going to run out quickly. When I did the numbers for lease vs. purchase, while the $7500 Federal tax incentive serves to lower lease payments, if you plan on buying the car at the end of the lease, it costs very close to the new price, negating the $7500 incentive. No matter if buying or leasing, the sales tax and registration is based upon a $31K + car, which would use up the $5K California State rebate, even if still available.

I'm not convinced I'm ready to order a new car without having driven it, knowing what my trade-in value is, knowing when delivery is, knowing if the California State rebate is available or getting the value of the $7500 Federal incentive if I purchase after leasing. This is on top of the surprise about having to spec SL and pay $700 more for L3 charging. Leaf is not quite the bargain I had once thought.

 

[Jimmydreams]

I'm not convinced I'm ready to order a new car without having driven it, knowing what my trade-in value is, knowing when delivery is, knowing if the California State rebate is available or getting the value of the $7500 Federal incentive if I purchase after leasing. This is on top of the surprise about having to spec SL and pay $700 more for L3 charging. Leaf is not quite the bargain I had once thought.

Every one of your points is valid. However, remember that a lot of us here are not buying the Leaf because it makes financial sense. A lot of us here realize it will actually COST us a few bucks compared to what we already have and drive. Personally, the Leaf will be a big leap of faith and cost about $200 over what I'm paying now. But that money is worth it if I can help change public opinion about EVs.

I have a good job and the $$ factor is workable. I'll take my chances with what I ordered, and when I go pick it up, if I don't like it, I'll walk. Not everyone feels the same way or can make the numbers work financially. To each his/her own.

 

[evnow]

I'm not convinced I'm ready to order a new car without having driven it, knowing what my trade-in value is, knowing when delivery is, knowing if the California State rebate is available or getting the value of the $7500 Federal incentive if I purchase after leasing. This is on top of the surprise about having to spec SL and pay $700 more for L3 charging. Leaf is not quite the bargain I had once thought.

The chances of getting California State rebate fade as you delay the ordering. But you can always cancel and backout before taking delivery ....

BTW, just adding up lease payment and comparing it to cash value of buying is too simplistic. You should factor in the financial costs of buying.

 

[garygid]

Right, savings might be earning 0.16%, and you might want to factor that $5 in! (sad grin)

 

[evnow]

Right, savings might be earning 0.16%, and you might want to factor that $5 in! (sad grin)

LOL.

No, I'm talking about mortals who need to borrow to buy the car.

 

[garygid]

Oh, yes, ... the humanoids, ...

Now joking a bit:
Some may just assume that the food (that grows in packages on store shelves) will always be there, and ...
There are some for whom the task of sustaining their families for two weeks in a major disaster would be nearly impossible without resorting to using firearms ... ?

Money? Well, you can't eat money, or filter water with it, so it would not be very useful anyway.

Thus eat desert first, and buy a LEAF now!

Cheers

 

[JPC2822]

I'm not convinced I'm ready to order a new car without having driven it, knowing what my trade-in value is, knowing when delivery is, knowing if the California State rebate is available or getting the value of the $7500 Federal incentive if I purchase after leasing. This is on top of the surprise about having to spec SL and pay $700 more for L3 charging. Leaf is not quite the bargain I had once thought.

Every one of your points is valid. However, remember that a lot of us here are not buying the Leaf because it makes financial sense. A lot of us here realize it will actually COST us a few bucks compared to what we already have and drive. Personally, the Leaf will be a big leap of faith and cost about $200 over what I'm paying now. But that money is worth it if I can help change public opinion about EVs.

I have a good job and the $$ factor is workable. I'll take my chances with what I ordered, and when I go pick it up, if I don't like it, I'll walk. Not everyone feels the same way or can make the numbers work financially. To each his/her own.

JimmyD- I agree with you, the LEAF is not cheap! In fact, it will be the most expensive car I have ever had! I am getting the LEAF because I believe that gas is killing our country and planet. I too want to get people to get off our addiction to gas.

 

[BrendanDolan]

Has anybody worked an order deal including a trade-in value? Or are the dealers waiting due to Leaf delivery date not being known? Can a trade value be used as a down payment on a lease or just a finance contract? I would assume a trade could be used to lower lease payments.

Also, for those who have ordered in California, did you then apply for the state rebate? This is outside of any deal with the dealer?

Thank you.

KBB goes through book changes, and each time, the values of cars are reassessed, and the book value changes. There will be 2 more book changes by time my LEAF shows up. Given that variable, the number a dealer would give now is either: grossly reduced from the actual value to protect themselves, or highly suspect of not being honored. IMO, a dealer would be foolish to commit to a number now since we don't know where book value is going (for instance Camrys and a few others have appreciated during the last few book changes... how odd is that, and who would have thought?)

It's best to sell the car yourself, but trading in is always an open ended option. Back when I worked in sales and people ordered cars, I told them to put their car up on the market 2-3 weeks before the delivery date, and sell it themselves. If they still had it after the new car showed up, I'd give them an offer, and if they declined my trade in offer, I'd help them spruce up their own ads to attract more buyers.

 

[DaveinOlyWA]

I am not buying The Leaf because it's a good deal Or a cheap deal. I currently have 3 cars All paid 4, The oldest a 2006 prius with only 50,000 miles on it so i am not buying a$ 27,000 car because of some tax debate.

I am doing it because; despite the fact that we were warned more than 3 decades ago by a president who was ridiculed for his beliefs and actions and run out of office, my continuing to support big oil has undermined and literally destroyed our economy.

We are currently forced To spend several 100,000,000,000 dollars In a foreign country Fighting an enemy Whose sole support for the weapons they use we have financed with oil.

My Priuses do a very good job of reducing the sick feeling i get when i fill up the tank, my Zenn does an even better job. BUT the Leaf will make my primary source of transportation. "Foreign-oil" free and THAT IS THE REASON WHY EVERY AMERICAN SHOULD BUY ONE

 

[JPC2822]

I am not buying The Leaf because it's a good deal Or a cheap deal. I currently have 3 cars All paid 4, The oldest a 2006 prius with only 50,000 miles on it so i am not buying a$ 27,000 car because of some tax debate.

I am doing it because; despite the fact that we were warned more than 3 decades ago by a president who was ridiculed for his beliefs and actions and run out of office, my continuing to support big oil has undermined and literally destroyed our economy.

We are currently forced To spend several 100,000,000,000 dollars In a foreign country Fighting an enemy Whose sole support for the weapons they use we have financed with oil.

My Priuses do a very good job of reducing the sick feeling i get when i fill up the tank, my Zenn does an even better job. BUT the Leaf will make my primary source of transportation. "Foreign-oil" free and THAT IS THE REASON WHY EVERY AMERICAN SHOULD BUY ONE

Dave- very well said/written! I AGREE 100%! I can barely afford the LEAF but I am going to tighten up all my finances to get a LEAF! I appreciate what you wrote!
PEACE

 

[LEAFfan]

I am not buying The Leaf because it's a good deal Or a cheap deal. I currently have 3 cars All paid 4, The oldest a 2006 prius with only 50,000 miles on it so i am not buying a$ 27,000 car because of some tax debate.

I am doing it because; despite the fact that we were warned more than 3 decades ago by a president who was ridiculed for his beliefs and actions and run out of office, my continuing to support big oil has undermined and literally destroyed our economy.

We are currently forced To spend several 100,000,000,000 dollars In a foreign country Fighting an enemy Whose sole support for the weapons they use we have financed with oil.

My Priuses do a very good job of reducing the sick feeling i get when i fill up the tank, my Zenn does an even better job. BUT the Leaf will make my primary source of transportation. "Foreign-oil" free and THAT IS THE REASON WHY EVERY AMERICAN SHOULD BUY ONE

+2!

 

[HIOJim]

I am not buying The Leaf because it's a good deal Or a cheap deal. ... BUT the Leaf will make my primary source of transportation. "Foreign-oil" free and THAT IS THE REASON WHY EVERY AMERICAN SHOULD BUY ONE

Amen, brother!