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LTLFTcomposite
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Re: End of Lease Strategies?

Wed Oct 29, 2014 8:09 am

pkulak wrote:I plan on buying a used Leaf to replace my lease. Probably through the same dealer I got this lease from. Will that qualify me for waived fees and the like?
Not from what I have read. The waiver for the disposition fee and up to $500 of excess use/damage appears to only apply if you buy or lease a new Nissan (or Infiniti?).
LTL
White 2012 SV delivered 10 Dec 2011 returned 25 Nov 2014 replaced with stopgap ICE Sentra
[35 months] [35K miles] [9 Bars]
2013 Volt replaced after 36 months/30k miles with ICE Rogue
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sonnylax
Posts: 170
Joined: Fri Apr 19, 2013 10:57 am
Delivery Date: 23 Apr 2015
Location: Peachtree Corners, GA

Re: End of Lease Strategies?

Wed Oct 29, 2014 9:19 am

Spies wrote:One thing that may make the decision more urgent is if you have access to the $1,000 Owner Loyalty Cash as it is set to expire 01/02/2015 according to my records.
I would like to take advantage of that $1000 Nissan Owner Loyalty Cash offer (expires 1/2/15) too.... but reading the fine print, they don't excuse you from your existing lease payment obligations if you lease a new Leaf. My current 2-year lease doesn't expire until April, 2015 - so I'd be looking at 4 extra months of payments.

Has Nissan ever offered a deal where they give a financial incentive plus wipe out any remaining lease payments? I want to eat my cookies and cake too. :)

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LTLFTcomposite
Posts: 4674
Joined: Fri Apr 23, 2010 6:06 pm
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Location: Central FL

Re: End of Lease Strategies?

Wed Oct 29, 2014 10:47 am

sonnylax wrote: I would like to take advantage of that $1000 Nissan Owner Loyalty Cash offer (expires 1/2/15) too.... but reading the fine print, they don't excuse you from your existing lease payment obligations if you lease a new Leaf. My current 2-year lease doesn't expire until April, 2015 - so I'd be looking at 4 extra months of payments.

Has Nissan ever offered a deal where they give a financial incentive plus wipe out any remaining lease payments? I want to eat my cookies and cake too. :)
There have been "pull ahead" deals in the past, where they basically end your lease three months early (including making the payments) but they didn't have one this fall. I would have probably taken advantage of it had there been one. As it is, I'm riding it out till the end, and the lease termination waiver and possible excess wear forgiveness is the only encouragement they are providing to keep me in the brand. There is the $1000 loyalty cash too, but it remains to be seen whether I'll actually be able to apply that against the best deal I could have had otherwise, ie is it really the same as reaching into your pocket and pulling out ten hundred dollar bills.
LTL
White 2012 SV delivered 10 Dec 2011 returned 25 Nov 2014 replaced with stopgap ICE Sentra
[35 months] [35K miles] [9 Bars]
2013 Volt replaced after 36 months/30k miles with ICE Rogue
2016 SV-adjacent May 2016 lost 4th bar March 2018

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LTLFTcomposite
Posts: 4674
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Re: End of Lease Strategies?

Wed Oct 29, 2014 11:29 am

kmp647 wrote:There is some sort of program started in october that allows certain Leaf Leasers to buy their current car at a price way lower than the contracted residual.
Dealers just received the program info (most prob wont have read it yet) and NMAC has the info on who is eligible.
I received a call from NMAC and an offer to sell me my current Leaf at a large drop from the current payoff of $17,500

I dont really want to buy my Leaf , i'm turning it in end of December.

But I will try to get and post some of the programs details here.
Has anyone heard any updates on this? Or received calls from NMAC regarding buyouts at less than the residual price?
If they're going reverse the opt-out thing I'd want to consider this. There is certainly a price where it makes sense.
LTL
White 2012 SV delivered 10 Dec 2011 returned 25 Nov 2014 replaced with stopgap ICE Sentra
[35 months] [35K miles] [9 Bars]
2013 Volt replaced after 36 months/30k miles with ICE Rogue
2016 SV-adjacent May 2016 lost 4th bar March 2018

sonnylax
Posts: 170
Joined: Fri Apr 19, 2013 10:57 am
Delivery Date: 23 Apr 2015
Location: Peachtree Corners, GA

Re: End of Lease Strategies?

Wed Oct 29, 2014 11:34 am

LTLFTcomposite wrote: There is the $1000 loyalty cash too, but it remains to be seen whether I'll actually be able to apply that against the best deal I could have had otherwise, ie is it really the same as reaching into your pocket and pulling out ten hundred dollar bills.
I've had the same exact question in the past.... If you negotiate your best lease deal and then at the last second throw the $1000 loyalty cash deal on the table, how (& where) does that apply to your lease deal's "bottom line?"

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Spies
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Delivery Date: 10 Jan 2011
Leaf Number: 0255
Location: Foster City, CA

Re: End of Lease Strategies?

Wed Oct 29, 2014 12:19 pm

LTLFTcomposite wrote:There is the $1000 loyalty cash too, but it remains to be seen whether I'll actually be able to apply that against the best deal I could have had otherwise, ie is it really the same as reaching into your pocket and pulling out ten hundred dollar bills.
From what I understand it is like you pulled out ten hundred dollar bills as it comes straight form Nissan. So I see no reason that you could not get your best deal and then apply the extra $1,000 like it was cash out of your pocket.

I also have $250 to spend towards a new vehicle from the One to One Rewards program but I am not exactly sure how that one works yet but plan to look into it soon. I would not be surprised its different from the $1,000 loyalty cash though. Still another $250 certainly would not hurt.
LTLFTcomposite wrote:
kmp647 wrote:There is some sort of program started in october that allows certain Leaf Leasers to buy their current car at a price way lower than the contracted residual...
Has anyone heard any updates on this? Or received calls from NMAC regarding buyouts at less than the residual price?
If they're going reverse the opt-out thing I'd want to consider this. There is certainly a price where it makes sense.
I am curious about this too as I believe I am in the same boat as LTLFTcomposite. I need to figure it out soon as my lease is up 01/14/2015. Trying to decide between the options of turning in the Leaf and leasing a new one before the end of the year to take advantage of all the incentives that Nissan is offering, just turning in the Leaf and paying the price to do so and going with a different EV such as the Soul or even going without a second vehicle for a while and the possibility of being able to buy the Leaf I have if offered to me at a reasonable price. All these options have their pros and cons for sure.

One thing I should add is that Nissan is usually open to extending the lease up to an additional year on a month to month basis at the same monthly price of your current lease including additional miles. Certainly not something that works for everyone but if you have a good monthly lease rate and you don't mind taking the risk of out of warranty repairs it is another option. However I have already used this option myself and so far it has worked well for me. Of course I was hoping for better options form Nissan by now.
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LTLFTcomposite
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Re: End of Lease Strategies?

Wed Oct 29, 2014 12:48 pm

My lease payment is $481/mo with tax. When I asked they said they could extend my lease at the current rate, which of course I have no interest in whatsoever, and extending at a reduced rate was not an option.

It's pretty much like talking to a wall. I'm 99% certain the way this will end is with me turning in the car, NMAC will get like 8 grand from a wholesaler and if they are lucky somebody will eventually buy the car for 10 or 11. Who knows, with $2.69 gas the wholesaler may be catching a falling knife.

That said, if some new news comes to light that NMAC wants to deal, I am interested... at the right price.
LTL
White 2012 SV delivered 10 Dec 2011 returned 25 Nov 2014 replaced with stopgap ICE Sentra
[35 months] [35K miles] [9 Bars]
2013 Volt replaced after 36 months/30k miles with ICE Rogue
2016 SV-adjacent May 2016 lost 4th bar March 2018

DaveinOlyWA
Posts: 14107
Joined: Sat Apr 24, 2010 7:43 pm
Delivery Date: 16 Feb 2018
Leaf Number: 314199
Location: Olympia, WA
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Re: End of Lease Strategies?

Wed Oct 29, 2014 3:04 pm

MicStr wrote:
DaveinOlyWA wrote:
LTLFTcomposite wrote:Looks like there won't be a pullahead deal this fall. Of course a dealer can get me out of my current overpriced lease early but because the market value of the car is less than the residual all they would be doing is rolling the negative into the next lease or purchase.

I did confirm a couple of interesting things though talking to NMAC. if I purchase or lease another Nissan or infinity they will waive the termination fee and also allow me up to $500 of excess wear. We've kept the car in pristine condition but the tires are getting a little thin and that might be an issue so I'm hoping that $500 waiver would cover that.
But here's the interesting part: you don't need to buy or lease the new car at exactly the time you turn in the old one. You have about 60 days to buy or lease the new vehicle and still get those waivers credits. So we might try to limp along with one car for a few weeks until the North American Auto Show announcement where we see what the 2016 looks like, then decide where to go from there. Even though availability would still be several months away it would still be nice to make an informed decision.
they waived $843 on mine
What did you say to get them to waive more than $500 on excess wear? The dealers I'm talking to don't seem to be willing to "eat" the repair costs (I had the appraiser come out and said I needed $1000 of repairs - dent, scratches from kids bikes, crack in rear light panel). One salesman said they could "work it in" - thus less/no wiggle room on monthly payment. Thoughts?
well, technically my dealer did not agree to waive anything either since they are not the ones who determine the monetary end of it. an independent inspector does that and submits it to NMAC and the bill comes from them. I had "valid" charges like a deep scratch on the back that I was willing to pay for but my gripe was a charge for a windshield replacement that was like $300 or something that my insurance would have replaced for nothing. the damage was a tiny spider crack that might have been an inch long or something. But they waived all of the damage above the $500 limit (i also had broken antenna that was like $350ish to fix) that included all the windshield and a few bucks of the scratch. not sure of the exact dollar values of anything now but my liability was like $384 or something like that

i also had other stuff they did not get me on like mismatched tires and what not...
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kubel
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Re: End of Lease Strategies?

Wed Oct 29, 2014 5:06 pm

kmp647 wrote: I received a call from NMAC and an offer to sell me my current Leaf at a large drop from the current payoff of $17,500
Can you share what their offer was?
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kmp647
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Re: End of Lease Strategies?

Thu Oct 30, 2014 5:10 am

I will share what news I have as soon as someone , either NMAC or the dealership can actually give me the proper info on this offer!!!!!

they all seem to be to busy at the moment closing the month! trying to sell cars I guess


second I get some concrete info I will post it. hopefully Monday
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