2013/2014 Nissan Leaf Lease Information

[MrIanB]

Just got back from Cerritos Nissan with my new S model Leaf in metallic slate!
Not much options just "splash guards, floor mats/ cargo area mat, cargo net"

2400 out the door (including all fees, tax, doc, etc.)

199.42 a month AFTER taxes

36 month lease, 12k mileage a yr.

residual: $14,592.

still eligible for the $2500 CA rebate.

Congrats. Pix please.

Ian B

 

[outermostleaf]

Just leased a Leaf for my wife -

2013 Black Leaf SL (yes, SL)
$199/mo
traded a 1998 Jeep Wrangler for the down payment (175K miles) - worth about $3000

Based on what i see here, seems like a pretty good deal?

 

[evnow]

Based on what i see here, seems like a pretty good deal?

No way to tell, since you had a trade in.

Lease deals are not very different from a buy deal.

1. Make sure the agreed to price is a good discount from MSRP
2. Make sure no junk fees are added
3. Make sure you are getting the lowest possible money factor NMAC has (see the first post)
4. Give as little of down payment as possible to reduce risk in case the car is totalled.

 

[Corina1231]

Darwinchaug13,

Nice job. You got a very good deal. Just one question - did your down payment include your first month lease payment (leaving 35 more payments) or not?

Thank you so much for posting this important information. Enjoy your great car!

Ron and Corina


I'm looking to lease my 2nd Leaf. I landed a very good deal last October on a 2012 36 month lease special - got the SL with aftermarket leather added. I paid $2999 down (including everything plus my first month lease payment of $225), with 35 months more at $225 month. Received my $2500 CA rebate in the mail and am loving the commuter lane every workday! I hope to land the same deal on a new 2013 loaded SL but will likely have to wait until our local San Jose area dealers get more in stock before they are ready to deal.

 

[Corina1231]

Outermostleaf wrote:
2013 Black Leaf SL (yes, SL)
$199/mo
traded a 1998 Jeep Wrangler for the down payment (175K miles) - worth about $3000

Based on what i see here, seems like a pretty good deal?


Outermostleaf:
Sounds good, but need alot more info. Down payment, with tax or without, 24 or 36 mo., miles, did down include 1st month payment, etc. C'mon help us out! We're here to help each other.

 

[Phatcat73]

Lots of good info on this thread. I'm new to leases. I received the below quote via email from an IL dealer. I'll ask him the sale price and money factor next.

2013 Nissan Leaf SV

24 mo LEASE $ 245 18 K MILES/YR

39 MO LEASE $ $299 18 K MILES/YR

Tax's, first months payment and plates, Total $2,601.52 due at signing

Thoughts?

 

[bradbissell]

Anyone know what the March dealer incentives are? Same as Feb?

 

[wantonsoup]

Anyone know what the March dealer incentives are? Same as Feb?

You can always check on the Nissan website, just go to build a car and it shows them. Looks like they extended the lease offers until 4/1/13. :mrgreen:

 

[Corina1231]

Phatcat,

Your offer makes no sense. The 39 month lease should not cost $55 more per month than your 24 month lease, even with the same amount down. I believe the numbers will change when you get in the door. By the way, do you get a state rebate on purchases and leases of 36 month or longer as we do in CA? Our rebate is $2500 which usually covers the down.

Ron

 

[bradbissell]

Interested more in what dealer cash is available. Dealer I was working with mentioned they had an extra $750 last month compared to "normal" and that was being used to reduce the price. People around here usually have a good breakdown of what is available.

 

[Phatcat73]

Phatcat,

Your offer makes no sense. The 39 month lease should not cost $55 more per month than your 24 month lease, even with the same amount down. I believe the numbers will change when you get in the door. By the way, do you get a state rebate on purchases and leases of 36 month or longer as we do in CA? Our rebate is $2500 which usually covers the down.

Ron

Leases: See first post on page 7 which explains why 24 mos are cheaper. leases are based on expected residual value. car will be worth less after 3 years than 2; therefore lease payments increase. It's counter intuitive at first when compared to a conventional loan.

state rebate: Illinois does not offer rebates on leases, but they do on purchases. We qualify for 10% of the msrp up to $4000.

Thus I'm struggling with lease vs buy and I found a dealer who's willing to sell $1000 below invoice.

Factors pushing me towards the 2 yr lease: 1) Technology improvements, 2) Uncertain resale 3) Battery degradation & replacement costs & air cooled vs liquid cooled battery 4) There wil be about a dozen more EV options after the 2 year lease expires. 2 year lease cost w taxes: $8700

At the same time I could purchase the SV outright for $30,000 - $7500 = 22,500 OTD. The state credit would cancel out the tax and fees.

$22,500 OTD to purchase outright or
$8,700 for 2 years w/ 30,000 miles

hmmmmmmmm

 

[pgrokkos]

Phatcat,

Your offer makes no sense. The 39 month lease should not cost $55 more per month than your 24 month lease, even with the same amount down. I believe the numbers will change when you get in the door. By the way, do you get a state rebate on purchases and leases of 36 month or longer as we do in CA? Our rebate is $2500 which usually covers the down.

Ron

Leases: See first post on page 7 which explains why 24 mos are cheaper. leases are based on expected residual value. car will be worth less after 3 years than 2; therefore lease payments increase. It's counter intuitive at first when compared to a conventional loan.

state rebate: Illinois does not offer rebates on leases, but they do on purchases. We qualify for 10% of the msrp up to $4000.

Thus I'm struggling with lease vs buy and I found a dealer who's willing to sell $1000 below invoice.

Factors pushing me towards the 2 yr lease: 1) Technology improvements, 2) Uncertain resale 3) Battery degradation & replacement costs & air cooled vs liquid cooled battery 4) There wil be about a dozen more EV options after the 2 year lease expires. 2 year lease cost w taxes: $8700

At the same time I could purchase the SV outright for $30,000 - $7500 = 22,500 OTD. The state credit would cancel out the tax and fees.

$22,500 OTD to purchase outright or
$8,700 for 2 years w/ 30,000 miles

hmmmmmmmm

In a similar boat and agree completely with your analysis. Really like the idea of upgrading again in 2 years, perhaps to the next gen Leaf that hopefully will be able to break the 100 miles wall between charges. But being in NJ, I have a little worse cash analysis as I am not sure I get the extra $4k state credit you references (seen conflicting info on this but Nissan web site doesn't list it for NJ and I assume if it existed, they would). So works out close to 25k OTD for purchase vs about 8-9k lease.

I look at it based on residual value in 2 years. My guess is the trade in/sale value of the Leaf in 2 years will be about 20k max assuming no model refresh, more likely 16-18k assuming a new model in 2015. At 17k, I'd rather lease and know I can upgrade to a new car without complication of dealing with a trade in or sale.

 

[LEAFfan]

I'm not sure if this has been posted, but the 2013 SV/SL residual on a 24 mo./12K miles lease is 63%. The posted 36 is 62%.

 

[cpg1498]

Just leased a Leaf 2013 S (with Charger option = 6.6kw, Quick charge, backup camera)

Upside down from previous car ~$2400. The negociation was mainly about my trade-in. I found difficult to add the trade-in into the lease and still know if you are getting a good deal.

Sales manager explained that lease numbers for 24 are less than 36 because the 7500 rebate is applied every month (7500 /24 or 7500/36) , the longer you lease , the less rebate applied per month.

Numbers are:

$280 + tax (24 months, 15K miles) $1700 down.
Used the VPP which was Invoice - 1000.

 

[LEAFfan]

There are many good lease calculators to use. I used one to see if it came out the same as the dealer and it was within one dollar. There's a place for trade-ins.

 

[Corina1231]

Phatcat,

Mark, I appreciate your response. I have experience in the industry and have leased 4 cars (including a 2012 Leaf) in my lifetime. Barring any unusual federal rebate issues, a 3 year (or 39 month) lease ALWAYS has a lower per month cost than a 2 year when you consider total money paid out over the term of the lease (down payment plus total of payments divided by the number of months leased). The primary reason is that cars depreciate most in the first year and a lesser percentage every year to follow. A lease price is a reflection of that depreciation. Another reason is that the 36 or 39 month lessee will incur more maintenance costs (tires, brakes,etc.). At the same cost per month, virtually nobody would choose a 36 or 39 month lease over a 24. If you noticed in the quotes you received this theory still holds true (even with a Federal rebate situation):

1). 24 month lease at $245 month,
$2601 down (includes first month payment)

You would pay 23 payments at $245 each for a total of $5635; add your down of $2601 to that and your total financial outlay is $8236.

Divide the $8236 by the 24 month lease term to get your true cost per month: $343.


2) 39 month lease at $299 month
$2601 down (includes first month payment)

You would pay 38 payments at $299 each for a total of $11362; add your down of $2601 to that and your total financial outlay is $13,963.

Dive the $13,963 by the 39 month lease term to get your true cost per month: $332.


As you can see, under your scenario, it is $11 per month cheaper to go with the 3 year lease.


That aside, my experience is that it is usually far more than only $11 per month more expensive expensive to go with a 2 year lease over a 3 year. That is why I really appreciate our last commenter (cpg1498) explaining the unusual affect of the $7500 rebate. He is absolutely right that that would make the 2 year lease more attractive than usual. But, still notice under your scenario even though that factor bridged the normal wide gap, the 3 year scenario still is less expensive per month over the life of the lease.

Having said that, with only an $11 difference per month, I like your deal on the 2 year deal better! This is partially due to expected upcoming technological advancements in electric vehicles. The Leaf you lease or purchase two years from now will be worth well more than the little money you'll save by committing to 39 months. But it's more than that. The 39 month term make me nervous because the warranty is only 36 months. But even more importantly those extra months (between 24 and 39, or even the more usual 36 to 39) will likely cost you more money for a new set of tires, brake job, etc. you will incur.

In sum, I like your 2 year deal a lot (as long as you'll use the full 18k miles a year). I personally would never consider PURCHASING a Leaf or any other electric car at this stage of technological advancement for all the reasons you stated and more.

 

[evnow]

There are many good lease calculators to use. I used one to see if it came out the same as the dealer and it was within one dollar. There's a place for trade-ins.

Link to that calculator ?

How is it compared to the spreadsheet linked in the first post ?

 

[Phatcat73]

evnow,

Thanks for the spreadsheet. I used it to compare values with my dealer and it was fairly accurate. If anything it was very educational as I never thought about leasing. I tried opening with a couple apps on my iPad and it didn't like it. I was in the midst of changing over some of the cell types, (removing drop down) but decided to just take my laptop with me to the dealer for fear of messing up the formulas.

In the end I decided to buy outright. The $3200 Il state rebate was too much to pass up. It only applies to purchases. I should have my 13 SV by end of week!

 

[tsowen]

I use the spreadsheet on first page to calculate the VPP price. I am wondering how does this $71 come out for S model 24 month lease? I enter $25986 (invoice - $1000) + 850 at E3. The monthly payment comes out with $143.18, rather than $71.

 

[evnow]

I use the spreadsheet on first page to calculate the VPP price. I am wondering how does this $71 come out for S model 24 month lease? I enter $25986 (invoice - $1000) + 850 at E3. The monthly payment comes out with $143.18, rather than $71.

Did you enter 1,995 down ?