Wholesale value of the 2013 Leaf @Auction-March '18

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Turning in my 2013 Leaf SL today. NMAC never offered a reduced residual price to buy my leased vehicle.

Lessors typically insure the residual value. Sometimes, lessors will enhance the established value listed in the Automotive Leasing Guide (ALG.) The amount enhanced is uninsured. Any difference in the insured ALG residual value and the actual cash value is paid to the lessor by the insurance company. Some insurance companies went bankrupt insuring the $99 per month Ford Pintos in the 80s as I recall. Some lessors self insure and that may be what NMAC is doing. The actual cash value is established by sale at auction. Sometimes you set a reserve (minimum) and sometimes you don't. The reserve has little effect on the sale price. If the reserve is too high, dealers won't buy the vehicle. Plain and simple. There are many other vehicles for sale. Sometimes, no reserve vehicles bring higher prices as no reserve auctions encourage bidding. Lease return vehicles are not auctioned at public auctions like repo auctions. The commercially accepted manner of establishing an actual cash value of a lease return vehicle is to sell it at a dealer auction.
 
kikbuti said:
Turning in my 2013 Leaf SL today. NMAC never offered a reduced residual price to buy my leased vehicle.

...
Did you contact NMAC and request a reduced residual?

NMAC did contact some people.
But others reported they had to push the issue with NMAC to get the offers, either substantially reduced residual or lease extension with two monthly payment coupons.
 
Nissan offered me $4000 off residual for my 2013, that would be 17,800. Seems they should have offered more if they are getting so little at auction. I would have bought mine for $16,000 (SL premium). I had to contact them, I never received any offer until I called them.
 
I'm in the return mode right now. I got a call from Nissan and has me thinking. 2 months ago 1,000 off if I buy ( 20,400 ) todays new offer is 5,000 off (16,400) or 2 free months is my last off. 19,000 mile on the car only thing I don't like is brake mode not working like it use to, after so update last year. still have a 10 day grace.
 
TimLee said:
kikbuti said:
Turning in my 2013 Leaf SL today. NMAC never offered a reduced residual price to buy my leased vehicle.

...
Did you contact NMAC and request a reduced residual?

NMAC did contact some people.
But others reported they had to push the issue with NMAC to get the offers, either substantially reduced residual or lease extension with two monthly payment coupons.

NMAC contacted me and asked my intentions for end of lease. After I told them that I intended to return the vehicle and not replace it, that was the end of the discussion. I returned the vehicle to the dealer who asked the same question.
 
Reddy said:
Well, this should help drop used EV prices even more. Why buy used when you can get a new spark for $15K?
http://www.greencarcongress.com/2015/04/20150414-sparkev.html

*Only valid in California and Oregon and in limited quantities (per http://www.chevrolet.com/spark-ev-electric-vehicle.html" onclick="window.open(this.href);return false; )

Maryland will have Spark EV’s available beginning in mid-2015. (per the greencarcongress link)
 
Reddy said:
Well, this should help drop used EV prices even more. Why buy used when you can get a new spark for $15K?
http://www.greencarcongress.com/2015/04/20150414-sparkev.html

Have you driven the Spark? I test drove it and am not interested no matter how low they price it.

Most of the other EVs I've tested I would seriously consider. These include Tesla, eGolf, Volt, B, Focus and Smart. I want to eventually test the i3, Kia and Fiat, but I'm not real fond of their styling so I'm in no rush. If I was turning in my Leaf today, the eGolf and B would be the real contenders. But we still love our Leaf, so we can probably hang in there until the gen 2 or 3 models are out.
 
DarthPuppy said:
Have you driven the Spark? I test drove it and am not interested no matter how low they price it.
I have, it's pretty good. Definitely a budget interior compared to the LEAF, but it's fine. Torque was great off the line, feels much quicker than the LEAF and with stronger regen, too. Not sure on the range, but seems at least equal to the LEAF. Keep in mind that this was an A123 powered Spark EV and not the LG powered Spark EV, though.

Biggest drawback is that there are fewer QC stations for it and the OBC only does 16A with no option for 30A.
 
tractioninc said:
greengate said:
(I was told by someone who knows about these "things" that when the car is turned in after the lease has expired, that Nissan looses about 7 K on each one.)

I've been curious about that. The Wall Street Journal just cited a dealership near me that is receiving 100-150 Leafs each month as leases expire and has to turn in most of the cars to Nissan, even though Nissan offers current lessees $4,000 in incentives to buy the used model they are driving.
http://www.wsj.com/articles/resale-prices-tumble-on-electric-cars-1424977378" onclick="window.open(this.href);return false;

Yes interesting article I read it as well. The question is where are the leafs going? We see some of the leafs at auction or on used car sites however not these kind of numbers? Is Nissan storing the cars somewhere? I guess if you dump them all at auction the value of the car would plummet!
 
tractioninc said:
...even though Nissan offers current lessees $4,000 in incentives to buy the used model they are driving.
...
The report in End of Lease thread is the Nissan residual reduction on 2013 is now $6,500.
 
evnow said:
I won't be surprised if a lot of Leafs are going abroad, where they get better price.

No, once Nissan localized production in USA and UK, then used car transfer between USA and EU would be very expensive due to homogulation issues. For the 2011/2012 LEAF made in Japan, yeah they probably were globally homogulated, but 2013 onwards, no.

So unless going abroad implies South America or Bhutan or the like, then its unlikely that used 2013 used LEAFs are leaving the shores of the USA.
 
With the prices so cheap it probably would make sense to daisy chain a few for longer commutes if there is a private location between work and home where you can pony express one.
 
Here is the current auction sale actuals for a 2013 LEAF SL

2013_LEAF_SL_Wholesale_6-20-15.jpg
 
As someone currently looking for a 2013 Nissan Leaf, it's very interesting to see this thread.

In case this post should rather be in a different thread, please move.

It's very interesting to see, that "for the week ending June 13", 141 were sold at dealer auctions nationally, and the average price is "$11,550" with an odometer of 17,918.

It's surprising for at the same time, as it seems like these lower prices paid by dealers at dealer auctions don't seem to come through to the retail prices though. In the lower part of the image, there is the estimate of a retail price of $14,200 on average (possibly with roughly 18,000 odometer) and an estimated "below average" retail price of $12,950 (possibly with roughly 27,000 odometer). As of today, Saturday, June 20, according to autotrader.com, there seem to be exactly 7 2013 Nissan Leaf with the SL trim below $14,000 for sale in the whole state of California, and the absolutely lowest is $13,500 for a SL with 27,000 miles at Nissan Sunnyvale, all other ones are more like $13,900 and $13,999.

So as the average estimated retail of the 2013 Nissan Leaf SL was supposed to be $14,200, where all those that are below the average? If there are the 141 SL sold at dealer auctions within one week, where do they all go to? Is it possible that many of those are in Maryland, where 2 year leases were more popular, vs. f.e. California, where most offers were 3 year leases? Or are those auctions not only within a state, but does Nissan ship the vehicles across the country? How long does it take for the vehicles sold at dealer auctions to actually be available for sale to the consumer?

In addition, my question is if the 2013 Nissan Leaf prices at dealer auctions might continue to fall in the next month, as one was able to see a considerable decrease in prices if looking at the images from April etc, or if the prices will stay stable now, as Nissan made end-of-lease purchase offers more attractive?

Finally, a thought is if not only the prices might not go even lower anymore, but also if the quantity, the number of 2013 Nissan Leaf vehicles (no matter if SL, SV or S) at dealer auctions become significantly less, because a significantly higher amount of people with a 2013 lease running out might accept the $6,500 offer, compared with a higher amount of vehicles being returned in the past, when Nissan just offered $4,000 or less?
 
AskingQuestions said:
...It's surprising for at the same time, as it seems like these lower prices paid by dealers at dealer auctions don't seem to come through to the retail prices though. In the lower part of the image, there is the estimate of a retail price of $14,200 on average (possibly with roughly 18,000 odometer) and an estimated "below average" retail price of $12,950 (possibly with roughly 27,000 odometer). As of today, Saturday, June 20, according to autotrader.com, there seem to be exactly 7 2013 Nissan Leaf with the SL trim below $14,000 for sale in the whole state of California, and the absolutely lowest is $13,500 for a SL with 27,000 miles at Nissan Sunnyvale, all other ones are more like $13,900 and $13,999.

So as the average estimated retail of the 2013 Nissan Leaf SL was supposed to be $14,200, where all those that are below the average?...
The nationwide used BEV market is distorted by regional differences in new/used incentives.

California, where you are looking, has a substantial rebate on new BEV sales ($2,500) which tends to depress used BEV prices, both by reducing the price of new BEVs, and encouraging BEV owners to dump their used LEAFs on the market and collect another $2,500 (+ $7,500 FTC, of course) after only a few years.

But California also has a non-$ incentive on sales of used BEVs, the white HOV sticker, that might be keeping prices a little bit higher than the national average.

The lowest prices reported on this forum seem to be from the price depression in the region around Georgia where there are large incentives ($5k) on new BEV sales, at least for Another 10 days.

IIRC, one Sacramento LEAF buyer on this forum mentioned that he got a better deal than he could get near home by looking in the foothills.

If I were trying to sell my LEAF for the best price, I might try to market it in a part of CA with the worst traffic, and greatest demand for a pass into the HOV lanes.

And if I were a CA buyer trying to find the best deal, I'd be looking where there are no HOV lanes nearby.
 
@edatoakrun: Thank you very much for your reply. I don't know if the sole fact of HOV lanes is making used Leafs more expensive in California. Could also be supply and demand, if lots of Leafs are coming off 2 year leases in Georgia, and Nissan does indeed not ship them across the country to another states where more demand is. Still, thank you very much. Writing all this, I realize possibly all this is very much off-topic in this thread, as the original topic was wholesale value at dealer auctions... :)
 
My buyout price of 21k is a full 10k more than the auction price. Why do people still think financially it is better to buy than lease?
 
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