2013/2014 Nissan Leaf Lease Information

[mtrexler]

Well, it's not so much that they'd forgive the 3k, it's just that we wouldn't be paying lease payments for the next 6 months. The residual they're using is the same one originally established. So we'd pay $11,500 now, but save $3k over the course of next 6 months. Hence the ~8,500 net.

At least that's my understanding. Will ask them to send an email with detailed payoff numbers and assumptions.

Mark

 

[DNAinaGoodWay]

Well, it's not so much that they'd forgive the 3k, it's just that we wouldn't be paying lease payments for the next 6 months. The residual they're using is the same one originally established. So we'd pay $11,500 now, but save $3k over the course of next 6 months. Hence the ~8,500 net.

At least that's my understanding. Will ask them to send an email with detailed payoff numbers and assumptions.

Mark

Sorry, but I think it means your net is like 14.5, you'll be paying the 3k lease payments in a lump to do the deal. Seems NMAC is offering this $5k off to people six months before expiration lately. Maybe it cuts their losses somehow.

 

[mtrexler]

Well, it's not so much that they'd forgive the 3k, it's just that we wouldn't be paying lease payments for the next 6 months. The residual they're using is the same one originally established. So we'd pay $11,500 now, but save $3k over the course of next 6 months. Hence the ~8,500 net.

At least that's my understanding. Will ask them to send an email with detailed payoff numbers and assumptions.

Mark

Sorry, but I think it means your net is like 14.5, you'll be paying the 3k lease payments in a lump to do the deal. Seems NMAC is offering this $5k off to people six months before expiration lately. Maybe it cuts their losses somehow.

And as it turns out you are absolutely right! The remaining lease payments don't disappear, so in effect we'd be purchasing the vehicle for a net $11,5000. I guess the question is whether that's a particularly good deal. From other posts it sounds like that's in the range of what the vehicle is actually worth on the market. I'm almost tempted to just wait and see what kinds of deals - if any - they offer as the lease expires. Thoughts?

 

[Bazooka]

Since I posted earlier about my adventures in contacting NMAC and possibly extending the lease on our 2013 S, I thought I'd provide an update and ask some questions:

We did extend the lease for six months, which carries us to the end of September. That's VERY interesting timing as we all now know, thanks to the arrival of the 25% greater range SVs and SLs for 2016.

The 2016s will arrive on September 7th, or so someone at NMAC tells me. They called me in late April to tell me that I could extend my lease for an additional six months (to March 2016), and that I'd have to pay only four of the six payments. While I had them on the phone I asked when the 2016s were arriving, and the woman looked it up. (I probably should have asked more questions.) We're still deciding on whether to do that second six-month extension, but it seems like a no brainer, since it's a pretty good bargain and it doesn't lock us in for a long time.

Has anyone here been directly contacted by NMAC about the $5,000 (or is it %6,500?) lease buyout offer? We haven't. The only way I know about it is from InsideEVs and this forum. I think it's very weird that they would have such a program and not, you know, tell the potential customers about it. Perhaps our first lease extension kicked in early enough that they're not telling us about the $5,000 offer until we're closer to the end of our lease...?

I've seen numerous people online saying that the residual on their 2013 Leaf is around $15,000, leaving them with a roughly $10,000 buyout total, which I find baffling. Our residual is around $19,000. We did get a somewhat lower payment thanks to VPP pricing (I think it was only about $20/month less), but I'm surprised that our residual on a plain ol' S is so high. Opinions?

 

[overfedexed]

Since I posted earlier about my adventures in contacting NMAC and possibly extending the lease on our 2013 S, I thought I'd provide an update and ask some questions:

We did extend the lease for six months, which carries us to the end of September. That's VERY interesting timing as we all now know, thanks to the arrival of the 25% greater range SVs and SLs for 2016.

The 2016s will arrive on September 7th, or so someone at NMAC tells me. They called me in late April to tell me that I could extend my lease for an additional six months (to March 2016), and that I'd have to pay only four of the six payments. While I had them on the phone I asked when the 2016s were arriving, and the woman looked it up. (I probably should have asked more questions.) We're still deciding on whether to do that second six-month extension, but it seems like a no brainer, since it's a pretty good bargain and it doesn't lock us in for a long time.

Has anyone here been directly contacted by NMAC about the $5,000 (or is it %6,500?) lease buyout offer? We haven't. The only way I know about it is from InsideEVs and this forum. I think it's very weird that they would have such a program and not, you know, tell the potential customers about it. Perhaps our first lease extension kicked in early enough that they're not telling us about the $5,000 offer until we're closer to the end of our lease...?

I've seen numerous people online saying that the residual on their 2013 Leaf is around $15,000, leaving them with a roughly $10,000 buyout total, which I find baffling. Our residual is around $19,000. We did get a somewhat lower payment thanks to VPP pricing (I think it was only about $20/month less), but I'm surprised that our residual on a plain ol' S is so high. Opinions?

My offer letter from NMAC says $5000 off or 12 months extension. Now I'm hearing of $6500 off of residual.
If that's true, my price on my 2013 "S" would be $8800. $15,300 - $6500

 

[Bazooka]

My offer letter from NMAC says $5000 off or 12 months extension. Now I'm hearing of $6500 off of residual.
If that's true, my price on my 2013 "S" would be $8800. $15,300 - $6500

OK, I managed to find at least one human being who was contacted by NMAC about the $5k offer. I was beginning to think I was hallucinating the whole thing. :shock:

But I'm wondering why your residual is so much less than mine, when our cars are the same year and trim level. My deal was signed in late March 2013, and it was $2k down, $180/month (reduced from $200/month thanks to VPP); I believe they were running a lease deal at the time, but I wouldn't swear on it. How did we wind up with a $4k differential in our residual after only two years?

After reading all the comments on this board about various lease deals, I'm increasingly of the opinion that buying a car is mostly foo foo, and leasing one is mostly foo foo squared.

 

[Pinzgauer]

My initial End of Lease offer from NMAC was 12 mth renewal at same pmt & Mileage, but I only make 10 of the 12 pmts.

Not an attractive deal given the GA tax credit impact of doing another lease.

Also of interest is that the residual of our 2013 was about $6k more than our 2015, yet the payment was within $1 and overall terms the same.

Knowing that the VPP price/cost of the Leaf went up, this tells me that dealer discount and lease incentives were better now than in 2013. Or potentially cost of money as well.

 

[Bazooka]

Time for yet another "I just talked to NMAC" update.

Actually, I talked to them yesterday about my 2013 S leased in late March, 2013.

The woman I spoke with told me that the "extend and get two payments free" option is not a six-month extension, as I had been told earlier, but a 12-month extension, which would carry me all the way to late September 2016. (We had already extended for 6 months, to late September 2015.)

She also told me that my buyout offer would be $6,500.

Both the extension and buyout promotion offers are good until June 30.

I contacted my dealer to find out what happens with my $395 disposition fee if we buy the car, and they told me that it drops to $350. I'm sure there's some deep reason (beyond simple greed) why this fee exists and why it changes with a buyout, albeit just a little. I didn't ask, as I'm sure the answer would have made my head explode.

My wife and I are pondering what to do. Our car is in excellent shape, with low mileage, so our cost to buy it, factoring in sales tax and the disposition fee, is a pretty good deal, even in light of the expected depreciation hit in two years when the Leaf II, Bolt, and just-announced Honda BEV (see InsideEVs) all arrive and instantly change the shape of the automotive universe.

 

[Pholz]

I took the 5K offer and bought may 2013 SL and haven't looked back. I like the car and it had low miles and one owner (me) who took great care of it. I might have saved a little by buying one used and turning mine in or by extending the lease but I am pleased with my decision. Depreciation is not an issue as I will most likely drive it until the wheels fall off (or the battery won't charge) like the other cars I have owned. Sometimes it doesn't pay to try and over think things.

 

[Bazooka]

I took the 5K offer and bought may 2013 SL and haven't looked back. I like the car and it had low miles and one owner (me) who took great care of it. I might have saved a little by buying one used and turning mine in or by extending the lease but I am pleased with my decision. Depreciation is not an issue as I will most likely drive it until the wheels fall off (or the battery won't charge) like the other cars I have owned. Sometimes it doesn't pay to try and over think things.

Your situation and approach sound very similar to mine. Or perhaps I should say my intended approach, as I often have a hard time with that whole "don't over think stuff" thing. (At this point I am quite happy that my wife isn't part of this conversation...)

As I think I've mentioned before on this site, I think a useful, if not definitive, metric is how many years at normal lease costs you would have to keep the car before it could literally be worth $0 and you'd still have broken even. (I call this the "roll it off a cliff" calculation.) For my lease buyout with the $6,500 kicker, including sales tax and the disposition fee, it works out to 3.54 years. Since my car, like yours, is low mileage and was babied by its only owner, I think getting 4 more years out of it without major expenses should be easy. If I then traded it in on a new Leaf (or whatever) and got "only" a few thousand dollars for it, that would be a bonus.

 

[luckyleaf]

Hi,

I got the same $6500 off offer on my leased 2013 Leaf S model. Below are my 2013 Leaf lease details

Lease start date : 11/2013
Monthy lease price : $210
Zero down
2year lease/24K miles
Current mileage : 18k

I still have 5 months to go on my lease and NMAC made me an offer to either extend the lease for 1 more year with only 10 payments or take $6500 off of the residual value of $16334 to purchase it.

Purchase price today: $16334 - $6500 = $9834
Taxes @ 6.25% and Dealer TT&L and doc fee = $1418 (I know the dealer is charging ~$800 for TT&L and doc )

Total price = $11252

Lease Extend for 1 more year : (15months * 210) + $395 disposition = $3545.

I am debating whether to purchase now or just extend 1 more year lease and lease a new one next year. My daily commute is 40-60miles and Leaf more than meets my needs. I also just replaced all the four tires for $600 at the Nissan dealership. My biggest concern is if the battery will last beyond the warranty period of 5 years /60K miles. Any thoughts/suggestions?

Also, how is NMAC on charging for wear & tear on lease returns?

 

[Bazooka]

Purchase price today: $16334 - $6500 = $9834
Taxes @ 6.25% and Dealer TT&L and doc fee = $1418 (I know the dealer is charging ~$800 for TT&L and doc )

I apologize if this is a stupid question, but your dealer charges $800 for TTL above what you have to pay for state sales tax? What the heck is in that $800? That seems really high. I'm in the process of finding out what the additional "fees" are from my dealer for a lease purchase, but after reading your post I'm a little nervous about what I'll eventually find out.

 

[RonDawg]

Also, how is NMAC on charging for wear & tear on lease returns?

http://www.nissanusa.com/pdf/owning/Wear_and_Use_Guide.pdf" onclick="window.open(this.href);return false;

 

[LeafEricsson]

I got the same $6500 off offer on my leased 2013 Leaf S model. Below are my 2013 Leaf lease details

Lease start date : 11/2013
Monthy lease price : $210
Zero down
2year lease/24K miles
Current mileage : 18k

I still have 5 months to go on my lease and NMAC made me an offer to either extend the lease for 1 more year with only 10 payments or take $6500 off of the residual value of $16334 to purchase it.

Purchase price today: $16334 - $6500 = $9834
Taxes @ 6.25% and Dealer TT&L and doc fee = $1418 (I know the dealer is charging ~$800 for TT&L and doc )

Total price = $11252

Lease Extend for 1 more year : (15months * 210) + $395 disposition = $3545.

I am debating whether to purchase now or just extend 1 more year lease and lease a new one next year. My daily commute is 40-60miles and Leaf more than meets my needs. Any thoughts/suggestions?

My situation is very similar - two year lease up in October, purchase price around $10k after $6500 off. I am happy with my Leaf, and it has only 10k miles on it.

If you have financing arranged and your bank/lender will play ball, you can have them work directly with NMAC. This is what I have just done, and I avoided the $300 purchase option fee and $800 dealer doc fee. You will need to fill out the odometer disclosure statement yourself, and for me it means a trip to the tag office that I would not have had to make if I had given the dealer $1100 to spend an hour doing paperwork with me and to fill out a one page title transfer form. Call the Leaf Dept at NMAC and they should be able to walk you through the process.

Since I bought the car out, I don't have to worry about the lease disposition fee or any possible charges for door dings, rim rash, etc. on lease turn-in. Best of luck with your decision!

 

[Bazooka]

I strongly suggest that anyone considering a lease buyout do their research to see what the law is in their state regarding "documentation fees". After seeing the discussion in this thread, I did some googling about and found that this fee varies a lot by state, and that some states limit the fees. For example, in NY the limit is $75 plus the actual DMV fees.

I'm not suggesting that any dealership would try to get away with charging you an excessive and even (gasp!) illegal amount of money for doing 5 minutes of paperwork :lol: , but a little knowledge in this area might be a very good thing when you're sitting down with the finance person to close the deal.

 

[Leafdom]

I'm considering buying out my 2013 S. I have 14,700 left on the buyout, with 1 year left on the lease which is about 2,700 I would have to pay anyway. NMAC is offering the 5,000 rebate still, so that brings me down to $7,000 and CO will give me about 1500-2000 more in tax rebates this year - so that is what is getting my thinking going. That brings my end cost down to $5,000 to buy our car. I know that others got 6,500 earlier and that deal may or may not come back next month.

Any recent experience with lease buyouts here? Should I wait for a sweeter deal? I'm thinking of waiting until Dec 1 to see what the incentives are next month and then buying. That way I get the rebate from CO this year.
Any experience with finance charges from NMAC on the buyout? They wouldn't tell me but in the past I have heard they were giving 0% for lease buyouts.

Thanks!

 

[LeftieBiker]

What is the easiest way to find out the current buyout price, after residual reduction offer, for my 2013 SV? Is the NMAC phone number the only way to go, or can it be done via the Web? Does anyone have any idea if that reduction offer is likely to increase - or go away - after the end of this year?

 

[dm33]

What is the easiest way to find out the current buyout price, after residual reduction offer, for my 2013 SV? Is the NMAC phone number the only way to go, or can it be done via the Web? Does anyone have any idea if that reduction offer is likely to increase - or go away - after the end of this year?

Logging into the website shows a closeout price, which I assume is the buyout price. For my May 2013 lease is says just under $20,000 which is insane. It doesn't look reduced after we extended our 2 yr lease. Even with $5k off, thats still way too much.

Does any one know if its possible to make an offer to NMAC or negotiate in any way?

Meanwhile, I've been tracking used LEAFs and amazed at how few are showing up. I can't figure out whats happening with the lease returns if they're not showing up used. Are most being purchased by those who have leased it?