2013/2014 Nissan Leaf Lease Information

[jiho0101]

Can anybody tell me whether the following goal is achievable here in Southern California? (Near Cerritos, CA)

(Assuming that all tax & fees are included in the payments.)
Option 1) 2013 SV + Premium : $1,000 + (220 * 23) + 395 = $6,455
Option 2) 2013 SL (no option) : $1,000 + (290 * 23) + 395 = $8,065

I can wait till month end and go to the dealer on 6/30/2013 if that can help...

Please comment which option is more likely to be accepted by delaer...

Any comments would be greatly appreciated since this is my first lease attempt.

My Credit Score is above 750.
Also I can raise the first month payment upto $2,000 if that helps getting me the lower total cost of ownership.

Thanks a lot in advance!

 

[RonDawg]

FYI - In Cali they charge tax on the MSRP price of the car.

Actually, no. If you are purchasing a car, you are charged sales tax on the final agreed-to price of the vehicle, including any accessories/extended warranties/service plans/etc. that you and the dealer have agreed upon for that price. It could be MSRP, it could be less, it could be more.

For leases, it works differently. You are charged sales tax on the Capitalized Cost Reduction (aka the "down payment") as well as on each monthly payment. So yes you have to pay sales taxes on the $7500 Federal tax credit, plus any additional cash thrown in by you, the dealer, and/or Nissan. It seems unfair to tax a down payment, but with purchases you are also being taxed on this as well, since you are being taxed on the full purchase price of the car. With leases, you are not being taxed on the stated Residual Value.

The rate on which you are taxed is the going rate for the zip code in which the car will be registered, and not for the dealer where you buy/lease the car.

 

[VAMike13]

Okay, I was feeling better about the deal I got. Originally I was thinking about possibly cancelling the whole thing within the 3 day period after signing. But now I have another problem. They told me they would find the car I wanted in the color I asked for and let me know when it was available. I figured it might be kind of far away. Today they just called saying if I want the color I asked for (Metallic Slate) I have to pay another $500 because the only one available is out of range of the battery. Any other color is available close by so I won't have to pay if I change the color. But I really don't want the other colors and don't want to pay $500. They didn't mention this possibility before I signed. They just told me they would find one. In my head I was thinking it would come on a truck. Any idea what my position is here? Can I force the issue a little or do I need to pay $500 for what I want? I doubt all of their dealerships are that far apart. Should I ask them to just hop from one dealership to the next and charge it up each time? This just seems a little crazy to me. I realize now I should have picked a different dealership from my experience and what friends have told me. But I feel like it's too late now.
Mike

I posted this a while ago to a new topic by mistake. I meant to post here:

Did I make a mistake?

I just leased an SL with Premium package today and I'm worried I made a mistake. I'm in Virginia. I know I didn't get the greatest deal: $2000 down + 24 payments of $280 = $8720 not counting the disposition fee of course. I was holding firm on my request for $8600 total. But this was the best they would give me and they were giving me a good price on my trade. I don't have much problem with the price. Here's what I'm upset about. I rushed them some because my wife and I didn't have a lot of time to deal with it. So maybe they were rushing a little too. It still took longer than I had.

But they wouldn't answer my questions ahead of time. Every answer was "oh they will talk about that in finance." By the time I got there, I forgot all of my questions.

1. They tried to sell me 2 years of maintenance up front for $279. It's 20% more if you pay as you go and take it to the dealer? Is everyone else paying this much for them to rotate tires, check breaks and whatever else they do just twice a year? Can I take it somewhere else?

2. I kept asking about cost of accessories but then forgot about it at some point until after I was done because they kept pushing the question off until later. Apparently accessories cost the same whether you are leasing or buying. So I would own these accessories after the two years that are useless to me without the car and I probably would not be able to sell them. I thought there would be some sort of lease price for accessories. Does anyone know anything about this? I was looking at the trunk organizer and wheel locks.

Any input would be appreciated whether it is to make me feel better about my deal or to tell me to cancel the whole thing. I just didn't think I would have to pay a lot of extra money for maintenance and accessories.

Thanks.

VaMike,
Ok, last time you posted I think I told you not to take the deal you were offered. Now I have to say this looks very good, especially for VA. You are only paying about $500 more than I helped a friend get last week here in NorCal for the same specs. And 2 other dealers had quoted him $9300 plus dispo. So for VA, your deal is great. Congratulations!

You absolutely CAN rotate your own tires and check this and that, or have someone else do it. This car is virtually maintenance free. You need their service package like you need a hole in the head.

The dealer is right on the accessories. Those are not items everyone would want if they buy your car later so they have no value to the dealer. You can always ask them to sell you them at cost as a courtesy (50% of the retail) or do what most people would do and buy them on the Internet for less than dealer retail.

 

[ayekay]

comments anyone ?

great forum.. thanks for the valuable info..


VPP
I'm trying to find what a reasonable TCO for a S with charge package + mats + splash guard in Washington state is?

VPP
24 mo
179 drive-off (which includes all fees)
$179/mo for 23 months
S with charger package + mats + splash guard


I've been offered $179/m for a 24 month lease with 0 down. but the dealer has no cars available and I need to get on the wait list. this comes to $4296

I'm thinking of going with a dealer who has a car is stock even if the price I'm offered is not as $4296

also on the GAP insurance, is there any additional paperwork you sign or if this part of the lease ?

thanks

 

[martyv]

Hi ayekay,

$4,296 is an incredible value for a 24-month lease, you can hardly drive any cheaper in a 20-year old Honda Civic!

If that's legit, you got a smokin' deal! I'm in a similar situation; I've got an excellent quote for a lease on an SV w/QC, but I have to wait for the car, and I'm nervous that once I go in, the actual deal will disappear (yeah, I've got it all in writing in emails, but you know how that goes!)
For me, I decided the wait was worth it and I had the car ordered by the dealership, it's supposed to arrive mid-July. If they end up reneging, I'm going to make sure that all of us on this forum know about it!
So, I guess it's a matter of whether or not you can wait that long...

Share with us what you decide!
cheers,
Marty

comments anyone ?

great forum.. thanks for the valuable info..


VPP
I'm trying to find what a reasonable TCO for a S with charge package + mats + splash guard in Washington state is?

VPP
24 mo
179 drive-off (which includes all fees)
$179/mo for 23 months
S with charger package + mats + splash guard


I've been offered $179/m for a 24 month lease with 0 down. but the dealer has no cars available and I need to get on the wait list. this comes to $4296

I'm thinking of going with a dealer who has a car is stock even if the price I'm offered is not as $4296

also on the GAP insurance, is there any additional paperwork you sign or if this part of the lease ?

thanks

 

[pogoplug]

FYI - In Cali they charge tax on the MSRP price of the car.

Actually, no. If you are purchasing a car, you are charged sales tax on the final agreed-to price of the vehicle, including any accessories/extended warranties/service plans/etc. that you and the dealer have agreed upon for that price. It could be MSRP, it could be less, it could be more.

For leases, it works differently. You are charged sales tax on the Capitalized Cost Reduction (aka the "down payment") as well as on each monthly payment. So yes you have to pay sales taxes on the $7500 Federal tax credit, plus any additional cash thrown in by you, the dealer, and/or Nissan. It seems unfair to tax a down payment, but with purchases you are also being taxed on this as well, since you are being taxed on the full purchase price of the car. With leases, you are not being taxed on the stated Residual Value.

The rate on which you are taxed is the going rate for the zip code in which the car will be registered, and not for the dealer where you buy/lease the car.

Interesting details - so say I put down $1K and have a monthly payment of $215 and say the tax is 8.5% then my total tax would be calculated as follows?

Fed Tax credit - $7500
CA tax credit - $1500
Down payment - $1000
Monthly payments (24*$215)=5160
-------------------------------
Total =$15,160
---------------------------

Total tax paid = .085 * $15,160 = $1288.60


Please confirm. Looking to close on an S or SV lease in the next couple of days. Thnx for any help....

 

[Boomer23]

FYI - In Cali they charge tax on the MSRP price of the car.

Actually, no. If you are purchasing a car, you are charged sales tax on the final agreed-to price of the vehicle, including any accessories/extended warranties/service plans/etc. that you and the dealer have agreed upon for that price. It could be MSRP, it could be less, it could be more.

For leases, it works differently. You are charged sales tax on the Capitalized Cost Reduction (aka the "down payment") as well as on each monthly payment. So yes you have to pay sales taxes on the $7500 Federal tax credit, plus any additional cash thrown in by you, the dealer, and/or Nissan. It seems unfair to tax a down payment, but with purchases you are also being taxed on this as well, since you are being taxed on the full purchase price of the car. With leases, you are not being taxed on the stated Residual Value.

The rate on which you are taxed is the going rate for the zip code in which the car will be registered, and not for the dealer where you buy/lease the car.

Interesting details - so say I put down $1K and have a monthly payment of $215 and say the tax is 8.5% then my total tax would be calculated as follows?

Fed Tax credit - $7500
CA tax credit - $1500
Down payment - $1000
Monthly payments (24*$215)=5160
-------------------------------
Total =$15,160
---------------------------

Total tax paid = .085 * $15,160 = $1288.60


Please confirm. Looking to close on an S or SV lease in the next couple of days. Thnx for any help....

CA tax credit is $2,500 and dealer will not roll it into the deal or have anything else to do with it except provide you with a copy of your DMV form and a copy of your signed lease paperwork, both of which you'll need to apply for the CA rebate. If you want to roll that into the lease as an additional down payment, you'll have to pony up the cash ahead of time and then wait to get the money back from the CVRP. Currently they are out of funds and you'll be wait listed.

I don't recommend putting the CA cash as part of the down pmnt because if the car is totaled, you'll lose that cash. Make as small a down pmnt as possible.

 

[Corina1231]

For leases, it works differently. You are charged sales tax on the Capitalized Cost Reduction (aka the "down payment") as well as on each monthly payment. So yes you have to pay sales taxes on the $7500 Federal tax credit, plus any additional cash thrown in by you, the dealer, and/or Nissan. It seems unfair to tax a down payment, but with purchases you are also being taxed on this as well, since you are being taxed on the full purchase price of the car. With leases, you are not being taxed on the stated Residual Value.[/quote]

Interesting details - so say I put down $1K and have a monthly payment of $215 and say the tax is 8.5% then my total tax would be calculated as follows?

Fed Tax credit - $7500
CA tax credit - $1500
Down payment - $1000
Monthly payments (24*$215)=5160
-------------------------------
Total =$15,160
---------------------------

Total tax paid = .085 * $15,160 = $1288.60


Please confirm. Looking to close on an S or SV lease in the next couple of days. Thnx for any help....[/quote]

CA tax credit is $2,500 and dealer will not roll it into the deal or have anything else to do with it except provide you with a copy of your DMV form and a copy of your signed lease paperwork, both of which you'll need to apply for the CA rebate. If you want to roll that into the lease as an additional down payment, you'll have to pony up the cash ahead of time and then wait to get the money back from the CVRP. Currently they are out of funds and you'll be wait listed.[/quote]

------------------------------------------------------------------------------------------------------------


In order to qualify for the $2500 CA Leaf tax credit, one either must purchase a new Leaf outright or lease a new Leaf for a period of three years or longer. However, as we've discussed on multiple occasions, Nissan 3 year lease rates, even after considering the anticipated $2500 CA state rebate, come out to almost the same if not higher cost per year to the lessee as the 2 year lease (which makes no sense, but remains as true today as a year ago).

Also, note that the first payment is included in your down, so subsequent payments will be at 23 @ $215 under your hypothetical.

Cheers!

Ron

 

[c141medic]

Just pulled the plug (no pun intended) on waiting for the Honda Fit EV. My dealer at Burns Honda in Marlton NJ was absolutely clueless to the process so I jumped ship and went for the Leaf. Here's my lease details.

South Jersey
Nissan Leaf SL
2yr/15K miles Lease
$299 month
$750 down (drive off price which included first month payment, tags, acquisition fee ,etc.)

And of course NO TAX in NJ. Amazes me how many EV dealers (particularly Honda) were totally ignorant about this. It took me literally less than a minute to research this on the web.

I was shopping for the SV at another dealership but they wanted to play games and did not earn my business. In my opinion I ended up with a fair deal considering the current lease special on the Leaf SL on Nissan's web site is $300 month with $2000 down (and that doesn't include tags and other misc. fees). Overall, I'm very happy with the Leaf over the Honda. Glad I jumped ship.
C141medic

 

[chazrevo]

This has been a great thread to read, and thanks to everyone for putting up so much information.

I am looking at leases here in the SF bay area. Oakland quoted me for a 36 mo lease on an Leaf S w/ quick charge package:

$3500 due on delivery / $248 / mo + $22 / mo tax

This includes all taxes and fees. That looks to me like $13220 TCO. Seems pretty steep as some folks are seeing ~$6000 TCO for a 24 mo lease.

I went in insisting on the 1999 down 199 a month deal, and this is all they would come back with. obviously I walked out.

Any suggestions on what dealers might be better to talk to?

Hayward Nissan has been posting deals like:

2013 Leaf SV w/Quick charge & LED lights
Lease for $78 +tax
24 month closed end lease on Nissan Leaf with $7,825 Lease Bonus Cash. Drive off & down payment of $4,888 on SV or SL includes first payment and $0 security deposit. 12k miles per year, $0.15 each additional mile. On approved credit.

Looks like ~$6760 TCO depending what else they tack on when I get there. This is better, but not as good as others have posted. Any tips?

Thanks!

Charles

 

[Corina1231]

Just pulled the plug (no pun intended) on waiting for the Honda Fit EV. My dealer at Burns Honda in Marlton NJ was absolutely clueless to the process so I jumped ship and went for the Leaf. Here's my lease details.

South Jersey
Nissan Leaf SL
2yr/15K miles Lease
$299 month
$750 down (drive off price which included first month payment, tags, acquisition fee ,etc.)

And of course NO TAX in NJ. Amazes me how many EV dealers (particularly Honda) were totally ignorant about this. It took me literally less than a minute to research this on the web.

I was shopping for the SV at another dealership but they wanted to play games and did not earn my business. In my opinion I ended up with a fair deal considering the current lease special on the Leaf SL on Nissan's web site is $300 month with $2000 down (and that doesn't include tags and other misc. fees). Overall, I'm very happy with the Leaf over the Honda. Glad I jumped ship.
C141medic

Congratulations! Welcome to the Leaf community.

 

[c141medic]

Just pulled the plug (no pun intended) on waiting for the Honda Fit EV. My dealer at Burns Honda in Marlton NJ was absolutely clueless to the process so I jumped ship and went for the Leaf. Here's my lease details.

South Jersey
Nissan Leaf SL
2yr/15K miles Lease
$299 month
$750 down (drive off price which included first month payment, tags, acquisition fee ,etc.)

And of course NO TAX in NJ. Amazes me how many EV dealers (particularly Honda) were totally ignorant about this. It took me literally less than a minute to research this on the web.

I was shopping for the SV at another dealership but they wanted to play games and did not earn my business. In my opinion I ended up with a fair deal considering the current lease special on the Leaf SL on Nissan's web site is $300 month with $2000 down (and that doesn't include tags and other misc. fees). Overall, I'm very happy with the Leaf over the Honda. Glad I jumped ship.
C141medic

Congratulations! Welcome to the Leaf community.

Thank you. Loving the Leaf so far.

 

[pogoplug]

Need to know if this is a good deal ..

Dealer in Nor Cal is offering me the following on an SV package. Has the following options:
premium package, floor mats & cargo and splash guards for 12K miles/yr

TOTAL DRIVE OFF: $2999
MONTHLY:$99 PLUS TAX

He is also offering me the LED/Qcharge instead of the premium package for an extra $20/month, same down payment.
TOTAL DRIVE OFF: $2999
MONTHLY:$119 PLUS TAX

Need to decide fast...any feedback would be much appreciated.

Thnx

 

[RonDawg]

FYI - In Cali they charge tax on the MSRP price of the car.

Actually, no. If you are purchasing a car, you are charged sales tax on the final agreed-to price of the vehicle, including any accessories/extended warranties/service plans/etc. that you and the dealer have agreed upon for that price. It could be MSRP, it could be less, it could be more.

For leases, it works differently. You are charged sales tax on the Capitalized Cost Reduction (aka the "down payment") as well as on each monthly payment. So yes you have to pay sales taxes on the $7500 Federal tax credit, plus any additional cash thrown in by you, the dealer, and/or Nissan. It seems unfair to tax a down payment, but with purchases you are also being taxed on this as well, since you are being taxed on the full purchase price of the car. With leases, you are not being taxed on the stated Residual Value.

The rate on which you are taxed is the going rate for the zip code in which the car will be registered, and not for the dealer where you buy/lease the car.

Interesting details - so say I put down $1K and have a monthly payment of $215 and say the tax is 8.5% then my total tax would be calculated as follows?

Fed Tax credit - $7500
CA tax credit - $1500
Down payment - $1000
Monthly payments (24*$215)=5160
-------------------------------
Total =$15,160
---------------------------

Total tax paid = .085 * $15,160 = $1288.60


Please confirm. Looking to close on an S or SV lease in the next couple of days. Thnx for any help....

You will pay local sales tax on $8500 (the $7500 Federal tax credit and your $1000 cash down payment) but not the CVRP rebate (which BTW is $2500 and not $1500). Unless already included in the calculations, you will also pay sales tax on each $215 payment.

 

[RonDawg]

Need to know if this is a good deal ..

Dealer in Nor Cal is offering me the following on an SV package. Has the following options:
premium package, floor mats & cargo and splash guards for 12K miles/yr

TOTAL DRIVE OFF: $2999
MONTHLY:$99 PLUS TAX

He is also offering me the LED/Qcharge instead of the premium package for an extra $20/month, same down payment.
TOTAL DRIVE OFF: $2999
MONTHLY:$119 PLUS TAX

Need to decide fast...any feedback would be much appreciated.

Thnx

I'd go for the latter (QC port) but I would try to reduce the down even if it means a higher monthly payment. As mentioned before, with leases try to keep the down payment as low as you can, as you would lose it immediately if the car is totaled or stolen and unrecoverable/unrepairable.

Assuming this is a 24 month deal, it comes out to less than 24 cents/mile which is pretty good.

 

[Corina1231]

Need to know if this is a good deal ..

Dealer in Nor Cal is offering me the following on an SV package. Has the following options:
premium package, floor mats & cargo and splash guards for 12K miles/yr

TOTAL DRIVE OFF: $2999
MONTHLY:$99 PLUS TAX

He is also offering me the LED/Qcharge instead of the premium package for an extra $20/month, same down payment.
TOTAL DRIVE OFF: $2999
MONTHLY:$119 PLUS TAX

Need to decide fast...any feedback would be much appreciated.

Thnx

I'd go for the latter (QC port) but I would try to reduce the down even if it means a higher monthly payment. As mentioned before, with leases try to keep the down payment as low as you can, as you would lose it immediately if the car is totaled or stolen and unrecoverable/unrepairable.

Assuming this is a 24 month deal, it comes out to less than 24 cents/mile which is pretty good.

RonDawg,
I'd normally advise the same but my Nissan dealer claimed that Nissan leases include "gap insurance" when I asked. Something folks would want to confirm one way or the other.

 

[RonDawg]

RonDawg,
I'd normally advise the same but my Nissan dealer claimed that Nissan leases include "gap insurance" when I asked. Something folks would want to confirm one way or the other.

My understanding about gap insurance is that it works a lot like PMI if you didn't put down the usual 20% for a house purchase: it only pays that amount between the car's value, and what is owed if the latter value is more. Basically, it protects the bank's interest, and does not prevent you from losing your total investment beyond being able to walk away without having to pay out even more.

 

[pogoplug]

Need to know if this is a good deal ..

Dealer in Nor Cal is offering me the following on an SV package. Has the following options:
premium package, floor mats & cargo and splash guards for 12K miles/yr

TOTAL DRIVE OFF: $2999
MONTHLY:$99 PLUS TAX

He is also offering me the LED/Qcharge instead of the premium package for an extra $20/month, same down payment.
TOTAL DRIVE OFF: $2999
MONTHLY:$119 PLUS TAX

Need to decide fast...any feedback would be much appreciated.

Thnx

I'd go for the latter (QC port) but I would try to reduce the down even if it means a higher monthly payment. As mentioned before, with leases try to keep the down payment as low as you can, as you would lose it immediately if the car is totaled or stolen and unrecoverable/unrepairable.

Assuming this is a 24 month deal, it comes out to less than 24 cents/mile which is pretty good.

Yes this is for 24 months. With the QC port option the cost comes upto almost 25 cents / mile. Still a good deal? Whats the reasoning behind opting for the QC port v/s the premium pkg? Sorry newbee here...I actually was looking for the basic S option to keep my costs down but decided to look at the SV as they dont have any S options in stock where i live. Just looking to justify my jump from being around a TCO value of $5K to now $6K

 

[pogoplug]

Need to know if this is a good deal ..

Dealer in Nor Cal is offering me the following on an SV package. Has the following options:
premium package, floor mats & cargo and splash guards for 12K miles/yr

TOTAL DRIVE OFF: $2999
MONTHLY:$99 PLUS TAX

He is also offering me the LED/Qcharge instead of the premium package for an extra $20/month, same down payment.
TOTAL DRIVE OFF: $2999
MONTHLY:$119 PLUS TAX

Need to decide fast...any feedback would be much appreciated.

Thnx

I'd go for the latter (QC port) but I would try to reduce the down even if it means a higher monthly payment. As mentioned before, with leases try to keep the down payment as low as you can, as you would lose it immediately if the car is totaled or stolen and unrecoverable/unrepairable.

Assuming this is a 24 month deal, it comes out to less than 24 cents/mile which is pretty good.

RonDawg,
I'd normally advise the same but my Nissan dealer claimed that Nissan leases include "gap insurance" when I asked. Something folks would want to confirm one way or the other.

Now what the heck is gap insurance? When the dealer has quoted me a drive off cost of $XX then isn't the insurance decision totally my choice...??

 

[Corina1231]

Pogoplug wrote:

Now what the heck is gap insurance? When the dealer has quoted me a drive off cost of $XX then isn't the insurance decision totally my choice...??

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