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Re: Leaf Price / Discount discussion thread

Posted: Thu Feb 28, 2019 7:27 am
by Triggerhappy007
"$5300 driveoff and $139+tax per month"

I see a lot of people putting a lot of money down on a lease. Isn't that a bad idea? What if it gets totalled or stolen? Wouldn't it be better to spread the down payment over the whole term of the lease?

Re: Leaf Price / Discount discussion thread

Posted: Thu Feb 28, 2019 7:59 am
by iPlug
rocketfast wrote:Leased a leaf today in bay area, ca. Needed one for hov lane commute in a month.

Leaf S with QC. No weather package.

$10550 all in for 36 months and 10000 miles/year. Could have bargained lower, but just last week, I was struggling at $12k, so the sudden drop in prices this week surprised me.

Vpp and loyalty. $5300 driveoff and $139+tax per month.
Very nice. If you get the $2.5k CA rebate and $800 PG&E utility rebate, that's only $7,250 for the lease.

Bay Area climate should be kinder to battery than most places in CA.
Triggerhappy007 wrote:"$5300 driveoff and $139+tax per month"

I see a lot of people putting a lot of money down on a lease. Isn't that a bad idea? What if it gets totalled or stolen? Wouldn't it be better to spread the down payment over the whole term of the lease?
I think you still have to pay the lease balance to get out of contract if the car is totaled and not reparable. AFAIK, the auto insurance company pays the cash value of a totaled car to the lease finance company.


A large down payment may come down to mostly a cost opportunity issue. Certainly Nissan would reduce the total lease cost to the consumer for a larger down payment, but a lower down payment may provide a greater cost opportunity for the consumer. YMMV.

Re: Leaf Price / Discount discussion thread

Posted: Thu Feb 28, 2019 3:23 pm
by ljwobker
I was under the impression that if someone totaled a leased vehicle, assuming it's normally insured, you were basically out the car and the remainder of the lease was either forgiven or paid off by the insurance company or something along those lines. But regardless of how you got there, if you've only had the car for (as an example) 12 months, you are out the down payment and all the monthly payments made to that point... so if you have a very large up-front, your effective cost per month to drive the car is a LOT higher than if you have a smaller/zero down payment. But I'm not authoritative on that ;)

Re: Leaf Price / Discount discussion thread

Posted: Thu Feb 28, 2019 4:04 pm
by LeftieBiker
ljwobker wrote:I was under the impression that if someone totaled a leased vehicle, assuming it's normally insured, you were basically out the car and the remainder of the lease was either forgiven or paid off by the insurance company or something along those lines. But regardless of how you got there, if you've only had the car for (as an example) 12 months, you are out the down payment and all the monthly payments made to that point... so if you have a very large up-front, your effective cost per month to drive the car is a LOT higher than if you have a smaller/zero down payment. But I'm not authoritative on that ;)
You have it right.

Re: Leaf Price / Discount discussion thread

Posted: Thu Feb 28, 2019 4:45 pm
by rocketfast
ljwobker wrote:I was under the impression that if someone totaled a leased vehicle, assuming it's normally insured, you were basically out the car and the remainder of the lease was either forgiven or paid off by the insurance company or something along those lines. But regardless of how you got there, if you've only had the car for (as an example) 12 months, you are out the down payment and all the monthly payments made to that point... so if you have a very large up-front, your effective cost per month to drive the car is a LOT higher than if you have a smaller/zero down payment. But I'm not authoritative on that ;)
I simply did not know this (and this is my 3rd Nissan leaf lease!). I will be more careful on my 4th lease.

Re: Leaf Price / Discount discussion thread

Posted: Thu Feb 28, 2019 4:50 pm
by rocketfast
LeftieBiker wrote:Good deal - as long as it isn't cold where you live.
Yeah. I thought about it. My commute is 40 miles a day with free charging at work. I thought, I will just crank up the heater when it is cold (we don't go below 32f here).

Re: Leaf Price / Discount discussion thread

Posted: Thu Feb 28, 2019 8:20 pm
by iPlug
ljwobker wrote:I was under the impression that if someone totaled a leased vehicle, assuming it's normally insured, you were basically out the car and the remainder of the lease was either forgiven or paid off by the insurance company or something along those lines. But regardless of how you got there, if you've only had the car for (as an example) 12 months, you are out the down payment and all the monthly payments made to that point... so if you have a very large up-front, your effective cost per month to drive the car is a LOT higher than if you have a smaller/zero down payment. But I'm not authoritative on that ;)
I'm no expert here either, but got the information from reading about leases online.

I mentioned "I think you still have to pay the lease balance to get out of contract if the car is totaled and not reparable." What you mention is not necessarily mutually exclusive. Gap insurance written into lease insurance might be how the insurance company is able to "forgive" (pay-off) the rest. If that is the case, one would expect lease insurance to be higher on a vehicle with a lower down payment.

Someone with more expertise with leases may be able to clarify here as I may just be muddying the waters.

Re: Leaf Price / Discount discussion thread

Posted: Thu Feb 28, 2019 8:31 pm
by LeftieBiker
Nissan/NMAC self-insures for GAP coverage. If your leased Nissan is totaled, you walk away with nothing, owing nothing. That's why large down payments are more risky then small ones, or none: you lose little or nothing in the latter cases. I always tell people: If you want to get a better deal (most dealerships like to see some cash upfront) then put as much down as you are willing to lose - no more.

Re: Leaf Price / Discount discussion thread

Posted: Wed Mar 06, 2019 11:35 am
by GlennD
My 2014 B was totaled. The gap insurance paid off the car. Mercedes always has a large residual to lower the payments. The gap covered all of that.

Re: Leaf Price / Discount discussion thread

Posted: Wed Mar 13, 2019 9:05 am
by golfcart
There are some great deals to lease right now, I'm pretty close to pulling the trigger on a 2018 SV with All Weather and Tech Packages. Roughly $11k net for 36 months (including taxes and fees) and then a $13.4k residual if I want to buy it or I'll have the option to walk away clean.