End of Lease Strategies?

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SageBrush said:
As I posted in another thread, a UT dealer is selling the 40 kWh LEAF 'S' model for $21,500 before tax credits or TTL. Figure out your tax credits and go from there. The CVRP requires in-state purchase.

I suggest you ignore your lease -- that is a sunk cost. Instead, compare a
$9000 ~ 18 kWh, 3 year old LEAF to
Whatever is otherwise available to you.

As a second, lightly used commuter your car is kinda sorta an OK-ish deal.
If it is your only car, it will hamstring you in a few short years.

Thanks for the reply SageBrush. Good point about the lease being a sunk cost. Also, that's an interesting way to look at the 3 year old Leaf being equivalent to 18KWh for 9K. I hadn't thought about it that way. Is the battery degradation curve relatively linear?

That Utah deal you posted is great; much better than what I've seen around here. I'll have to send out some feelers to some local dealers and see what I get. I need to return the car by first week of Sept so I have about a little over a month to make a decision!
 
socaluser said:
That Utah deal you posted is great; much better than what I've seen around here. I'll have to send out some feelers to some local dealers and see what I get. I need to return the car by first week of Sept so I have about a little over a month to make a decision!
Your local dealers are banking on you being too lazy to shop away from your stomping grounds. Nothing stops you from buying in UT and driving the car home, or having the car delivered to you from out of state.

A couple of years ago I bought a Prius Prime over the telephone/email from a dealer in New York and had it shipped to New Mexico. I saved ~ $2500 net and it was a LOT less hassle than dealing with dealership turkeys at the dealership. The numbers were $900 shipping, $3,000 less for the car and $500 saved by not using the dealership titling service they usually foist on their customers.

Yes, battery degradation seems to be pretty linear year to year.

You might also check out
http://ev-vin.blogspot.com/
The website keeps tabs on the best lease offers. Many are in CA

A LEAF lease from a CA dealer could be an awesome deal. You are (I presume) eligible for the CVRP, and you will save the fees that Nissan charges to return your current car. Judging by the best deal ev-vin knows about
http://www.haywardnissan.com/new-nissan-leaf-lease-finance-offers-near-fremont-ca.htm
that looks to pencil out as ~
($8529 - $2500) for 30k miles over 3 years.
 
72andsunny said:
It was your guy in Everett.

In other news: Nissan Finance has screwed me. They cashed the check from my bank and after I called twice asking where my title is, have told me that only a dealership in Hawaii can handle the transaction. Thanks for telling me before I took out an auto loan that I only took out because you told me to. Anyway, they’re checking to see if they can keep my check and I can just show up at a dealership to sign paperwork.

Well I'm about at the end. The local dealer wants about $1500 more than the Nissan Finance payoff ($300 of that is sales tax, $300 of that is the lease transfer fee, $10 for title transfer...so about $900 extra because they know they can charge it). Trying to set something up with a dealer on a nearby island. We had agreed on a price, but they're not exactly anxious to sell it to me, so I'm guessing my 10 day grace period will be up before a sale is completed. I've tried to extend the lease for another month, but keep being told "You already extended 9 times...:" I'm like: "No, I extended once.'

I haven't had it inspected, or anything. The salesman who sold it to me told me I can just drop it off with him any time. Any idea if a couple of very small chips (on opposite doors) is normal wear and tear?

I can't believe they want my four year old Leaf with 40,000 miles back.
 
72andsunny said:
72andsunny said:
It was your guy in Everett.

In other news: Nissan Finance has screwed me. They cashed the check from my bank and after I called twice asking where my title is, have told me that only a dealership in Hawaii can handle the transaction. Thanks for telling me before I took out an auto loan that I only took out because you told me to. Anyway, they’re checking to see if they can keep my check and I can just show up at a dealership to sign paperwork.

Well I'm about at the end. The local dealer wants about $1500 more than the Nissan Finance payoff ($300 of that is sales tax, $300 of that is the lease transfer fee, $10 for title transfer...so about $900 extra because they know they can charge it). Trying to set something up with a dealer on a nearby island. We had agreed on a price, but they're not exactly anxious to sell it to me, so I'm guessing my 10 day grace period will be up before a sale is completed. I've tried to extend the lease for another month, but keep being told "You already extended 9 times...:" I'm like: "No, I extended once.'

I haven't had it inspected, or anything. The salesman who sold it to me told me I can just drop it off with him any time. Any idea if a couple of very small chips (on opposite doors) is normal wear and tear?

I can't believe they want my four year old Leaf with 40,000 miles back.

What a bunch of BS!! I would be half tempted to just return the car and get my money back!
 
72andsunny said:
72andsunny said:
It was your guy in Everett.

In other news: Nissan Finance has screwed me. They cashed the check from my bank and after I called twice asking where my title is, have told me that only a dealership in Hawaii can handle the transaction. Thanks for telling me before I took out an auto loan that I only took out because you told me to. Anyway, they’re checking to see if they can keep my check and I can just show up at a dealership to sign paperwork.

Well I'm about at the end. The local dealer wants about $1500 more than the Nissan Finance payoff ($300 of that is sales tax, $300 of that is the lease transfer fee, $10 for title transfer...so about $900 extra because they know they can charge it). Trying to set something up with a dealer on a nearby island. We had agreed on a price, but they're not exactly anxious to sell it to me, so I'm guessing my 10 day grace period will be up before a sale is completed. I've tried to extend the lease for another month, but keep being told "You already extended 9 times...:" I'm like: "No, I extended once.'

I haven't had it inspected, or anything. The salesman who sold it to me told me I can just drop it off with him any time. Any idea if a couple of very small chips (on opposite doors) is normal wear and tear?

I can't believe they want my four year old Leaf with 40,000 miles back.

My local dealer insisted on a $300 inspection of my car to tell me it is safe to drive after I buy it back from them.
 
Further update:

Once again I think I’ve bought my car. A Honolulu Finance manager took pity on me a begrudgingly agreed to do all the paperwork through the mail. It was painfully slow; once a week I’d send him an email asking if I needed to do anything at which point I’d get an all caps reply and we’d move a step further along in the process. I ended up paying the $300 transfer fee (as mentioned in the lease agreement, and I believe I had to pay a similar fee for returning it), a $295 document fee, $10 registration transfer (unclear if the DMV actually requires this as only my name is on the registration), and 3 hundred something in sales tax (overcharged on this as Honolulu County tax is an extra 0.5% to pay for their train to nowhere). All in came to a little over $8k. More than I wanted to pay, but about $500 less than my local dealer wanted. Still haven’t received my registration or title, but they’ve cashed my check and the account shows paid off on nissan Finance. I will never lease another car no matter how good the deal is.
 
4 Months Remaining on our 2016 lease. Currently at 29k miles and anticipate around 32k at lease turn in. SOH 86% at present.

Residual at $10,600

As much as I want to move away from Nissan altogether, the price point is attracting along with the 8 year 100k degradation warranty that should trigger despite the Chicago climate. Plus the 5yr/60k power train.

We do have VPP pricing available $1000 below invoice, and may consider replacing the car if Nissan provides additional rebates. Currently none.
 
72andsunny said:
DaveinOlyWA said:
jjgilham said:
I was curious about the strategy you mention. If I overpaid, would they just credit it to my account and lower the payoff value? I asked two different people on the Leaf-line (800 854 3310) and they both said that NMC would not accept over payment which is a shame.

Why they don't have it setup so you can just send them the balance owed to execute a buyout? It does appear that banks can do that and the best "buyout" option may be buying the car out through a bank or credit union. My credit union sets up a loan for the balance, there are no fees, they become the lien holder and it does not appear there are dealer fees involved. The credit union charges no fee for early payoff so I could just settle with them at my leisure. Has anyone tried this?

When I was investigating buyout my local dealer (Eastside Nissan, Redmond WA) wants to cut themselves in for $1500 for handling the buyout. I told them no-thank you. When I later told them that another dealer (Younker Nissan, Renton WA) would do it for $300 they said they would as well. This is Just disgusting in my opinion. I've got no problem with them making a little bit on the transaction as it is some paperwork etc. but I think a few hundred is more than plenty.

SHOP AROUND!!

You can purchase your lease from any Nissan dealership in the country. I would pay no more than the stated $300 (or whatever it is) Realize its costing the dealership a fraction of that cost to process your paperwork AND they still get a cut from NMAC for handling the transaction.

Check with Ray at Everett Nissan. He may not be able to give you the best deal but he will be honest about what your options are.

My local dealer wanted the $300 transfer fee, $340 doc fee, $20 license fee, and sales tax. I kept trying to find a more reasonable offer (and I had several without the $340 fee), but they all wanted me to bring the car in. I’m in Hawaii, which I didn’t keep a secret. They all said they couldn’t do the sale (even the people recommended on this thread). Finally, a salesman in Washington said any financial institution could take care of this for me. So I called USAA, my payoff amount was the actual number provided by Nissan Finance. No fees at all (even the $300 specified in the lease contract). I’ll have to pay $10 when I take the title to the DMV and I assume sales tax. I’ll update as soon as I get the title.

Hello 72andsunny,
My 2017 SV Leaf lease is coming to an end in March. I was interested in a 1year lease extension but Nissan Finance refused any extension. I am now interested in a lease buyout - residual is 10,750. Car is in great condition. My local dealer will charge me $300 for Purchase fee and $495 for Safety inspection + Misc fee. I am interested in your approach of using a financial institution to avoid all the add-on fee.

Could you elaborate what exactly did you do with USAA? Was it a used car auto loan (end of lease buyout) that you did and let USAA handle the payment/paperwork. I guess you then paid away the loan right away. But what about USAA fee for loan processing? Could you provide a contact at USAA who you worked with?

Thanks
 
I am at the end of my 3 years lease for a Nissan Leaf. I am interested in a lease buyout from Nissan Finance. I found a back that will be willing to finance this buyout and will work with Nissan Finance directly to get all payments and lien transfer DMV paperwork done.

However Nissan Finance insisted that California law requires that I go through dealer to get the lease buyout done. The dealer, of course, has told me that it will add a $300 purchase fee and a $495 Safety inspection and DMV/paperwork fee. Not sure if California has such a law - I have a feeling that Nissan is unnecessarily making this expensive for me.

Could you confirm if this is true for CA?
 
shop2order said:
I am at the end of my 3 years lease for a Nissan Leaf. I am interested in a lease buyout from Nissan Finance. I found a back that will be willing to finance this buyout and will work with Nissan Finance directly to get all payments and lien transfer DMV paperwork done.

However Nissan Finance insisted that California law requires that I go through dealer to get the lease buyout done. The dealer, of course, has told me that it will add a $300 purchase fee and a $495 Safety inspection and DMV/paperwork fee. Not sure if California has such a law - I have a feeling that Nissan is unnecessarily making this expensive for me.

Could you confirm if this is true for CA?

If you're in the area, Nissan of Glendale did my buyout with only the purchase fee.

A month before my lease ended, I did contact a 3rd party to help with lease buyout, and they wanted their own fees to be paid (which was more than the dealership fees!). Basically, your only choice is to shop amongst the dealerships to see which are willing to "help" you.

I was tempted to just return it and buy a used one, but it was more expensive going that route. So I bit the bullet and paid the transfer fee. The whole purchase process took almost an hour! But at least it's done now.
 
shop2order said:
I am at the end of my 3 years lease for a Nissan Leaf. I am interested in a lease buyout from Nissan Finance. I found a back that will be willing to finance this buyout and will work with Nissan Finance directly to get all payments and lien transfer DMV paperwork done.

However Nissan Finance insisted that California law requires that I go through dealer to get the lease buyout done. The dealer, of course, has told me that it will add a $300 purchase fee and a $495 Safety inspection and DMV/paperwork fee. Not sure if California has such a law - I have a feeling that Nissan is unnecessarily making this expensive for me.

Could you confirm if this is true for CA?

I'm in the same position and in CA (San Jose). When I spoke to NMAC over the phone about the process, the gentleman was super nice, and confirmed that I would have to go through a dealership. He did mention that I would be responsible for the buyout amount, a $295 fee (that is in the contract), and any taxes/dmv fees. BUT he did warn me that the dealership will try to charge a 'return' or 'inspection' fee, and that's not a real fee. That you can just go to another dealership and do the return there.

I emailed my dealership last night and they are trying to ping me on a fee too:

"Your Sales Tax and DMV Fee:11% or $1,000 (Approximate. Exact amount will be computed at purchase).
Safety Check & Nissan Fee: $695
Any outstanding lease payments: $0 if you have made your last scheduled payment.
Minimum amount to drive off: $9,100 + $1,000 = $10,100."

I'd love to know any strategies to get out of the bogus fee.
 
blueangel78 said:
shop2order said:
I am at the end of my 3 years lease for a Nissan Leaf. I am interested in a lease buyout from Nissan Finance. I found a back that will be willing to finance this buyout and will work with Nissan Finance directly to get all payments and lien transfer DMV paperwork done.

However Nissan Finance insisted that California law requires that I go through dealer to get the lease buyout done. The dealer, of course, has told me that it will add a $300 purchase fee and a $495 Safety inspection and DMV/paperwork fee. Not sure if California has such a law - I have a feeling that Nissan is unnecessarily making this expensive for me.

Could you confirm if this is true for CA?

I'm in the same position and in CA (San Jose). When I spoke to NMAC over the phone about the process, the gentleman was super nice, and confirmed that I would have to go through a dealership. He did mention that I would be responsible for the buyout amount, a $295 fee (that is in the contract), and any taxes/dmv fees. BUT he did warn me that the dealership will try to charge a 'return' or 'inspection' fee, and that's not a real fee. That you can just go to another dealership and do the return there.

I emailed my dealership last night and they are trying to ping me on a fee too:

"Your Sales Tax and DMV Fee:11% or $1,000 (Approximate. Exact amount will be computed at purchase).
Safety Check & Nissan Fee: $695
Any outstanding lease payments: $0 if you have made your last scheduled payment.
Minimum amount to drive off: $9,100 + $1,000 = $10,100."

I'd love to know any strategies to get out of the bogus fee.

Can it be spelled out any clearer? Simply deal with someone who doesn't charge extra. First thing I would do is contact the dealer referenced above.
 
shop2order said:
I am at the end of my 3 years lease for a Nissan Leaf. I am interested in a lease buyout from Nissan Finance. I found a back that will be willing to finance this buyout and will work with Nissan Finance directly to get all payments and lien transfer DMV paperwork done.

However Nissan Finance insisted that California law requires that I go through dealer to get the lease buyout done. The dealer, of course, has told me that it will add a $300 purchase fee and a $495 Safety inspection and DMV/paperwork fee. Not sure if California has such a law - I have a feeling that Nissan is unnecessarily making this expensive for me.

Could you confirm if this is true for CA?
I don't think this is specifically a CA issue. I bought my '16 S30 at end of lease. NMAC told me I had to do the buyback through a local dealer. The local dealer (in OR) charged me the purchase fee (which is stated in the lease agreement) and also charged me a document fee for processing the purchase. They did not charge an inspection fee, which they told me would only have been done if I turned the vehicle in at end of lease rather than purchasing it.
 
Dooglas said:
shop2order said:
I am at the end of my 3 years lease for a Nissan Leaf. I am interested in a lease buyout from Nissan Finance. I found a back that will be willing to finance this buyout and will work with Nissan Finance directly to get all payments and lien transfer DMV paperwork done.

However Nissan Finance insisted that California law requires that I go through dealer to get the lease buyout done. The dealer, of course, has told me that it will add a $300 purchase fee and a $495 Safety inspection and DMV/paperwork fee. Not sure if California has such a law - I have a feeling that Nissan is unnecessarily making this expensive for me.

Could you confirm if this is true for CA?
I don't think this is specifically a CA issue. I bought my '16 S30 at end of lease. NMAC told me I had to do the buyback through a local dealer. The local dealer (in OR) charged me the purchase fee (which is stated in the lease agreement) and also charged me a document fee for processing the purchase. They did not charge an inspection fee, which they told me would only have been done if I turned the vehicle in at end of lease rather than purchasing it.

purchase and document fees are normal. Inspection fee is an add on by the dealership for profiteering. Don't pay it. There are dealers that will do this w/o that fee. I also suggest you go to the dealer's rating page and provide the appropriate response.
 
Nubo said:
"Nissan Fee". Love it. :lol:

Purchase fee is clearly stated in lease terms. The other fees would be location based like title transfer, etc. Everything else including inspections, etc. is dealer based and nothing but profiteering.
 
DaveinOlyWA said:
Nubo said:
"Nissan Fee". Love it. :lol:

Purchase fee is clearly stated in lease terms. The other fees would be location based like title transfer, etc. Everything else including inspections, etc. is dealer based and nothing but profiteering.

Agreed. Just shop around by total cost.
 
Can I get this lease buyout done by any dealer in a US state (or in CA). Or do I have to do it at a local dealer only because I have to take my car along?

Anybody from San Francisco bay area, CA who was able to do lease buyout without the inspection fee - could you please share the name of the dealership and sales person?
 
On 9/15/17, I bought an off lease 2015 Leaf S for $9325. It had 12 bars and was in perfect shape. When I got it home, I found the original lease papers deep in the glove box. The car had been returned just two weeks before (after a 3 year lease) and the end of lease purchase price was $12,892 plus an additional $300 purchase option fee. I thought it was crazy that they offered to sell the car to the original owner for $13,192, but turned around and sold it to me (two weeks later) for $9325. Ever since, I have wondered if it is better to turn in a car (at lease end), then buy it back off the lot.
 
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