2013/2014 Nissan Leaf Lease Information

[gmikol]

Quoting directly from the dealer's email...this seems super-slimey to me, somehow converting the 7625 NMAC rebate into a 7072 "cash cap reduction".

you are looking at a 2013 Nissan Leaf SV msrp of $34745 a discount of $3345 that brings the initial cap cost at $31400
there is a $595 acquisition fee rebate is $7625 cash cap reduction is $7072.74 adjusted cap cost is $24922.26 lease end value would be $14245.45 your dmv and doc fee is $254.76 your montly rental is $297 drive off fee would be first monthly payment and dmv fees $551.76

Is it just me, or is he lining the dealer's pocket with an extra ~$550 with this trick?

--G

 

[scramboleer]

Acquisition costs (to get the car at the beginning, different from delivery charge) and disposition fees (to turn in the car at the end of the lease) are legit, but negotiable. For what it's worth, I read somewhere that if the acquisition and disposition costs total more than $500, walk away. I understand that dealers to have overhead to process the paperwork, but I think $250 for each fee is more than reasonable.

 

[gmikol]

NMAC has a $595 acquisition fee, that's also built into his quote. My issue is that he's saying the NMAC rebate is 7625, while he's only reducing the cap cost by 7072 if you do the math. This seems evil, and not above-board.

--G

 

[DaveinOlyWA]

Quoting directly from the dealer's email...this seems super-slimey to me, somehow converting the 7625 NMAC rebate into a 7072 "cash cap reduction".

you are looking at a 2013 Nissan Leaf SV msrp of $34745 a discount of $3345 that brings the initial cap cost at $31400
there is a $595 acquisition fee rebate is $7625 cash cap reduction is $7072.74 adjusted cap cost is $24922.26 lease end value would be $14245.45 your dmv and doc fee is $254.76 your montly rental is $297 drive off fee would be first monthly payment and dmv fees $551.76

Is it just me, or is he lining the dealer's pocket with an extra ~$550 with this trick?

--G

based on the numbers you gave the discrepancy is $297.50 which is eerily close to your drive off payment plus licensing fees

 

[gmikol]

Regardless, I certainly didn't feel comfortable doing business with a dealer whose numbers I couldn't make sense of and always seemed to be shifting. And I said as much in the email I sent to the GM of that dealership about why they lost a sale that day. There are plenty of other dealers in the PDX metro to choose from. And I feel like I got a pretty good deal. Just waiting for the paperwork to confirm it before I post it here (and go buy it tomorrow).

--G

 

[jjj240]

Hi all,

Got the following lease quote on a 2013 Leaf (3 yrs, 12K per year)

Model S with QC
MSRP - 31,120
Residual % - 40%
Lease-end value - 12,448
Initial Cap Cost - 28,187 (with VPP)
Rebate - 8,150
Downpayment - $2000
Adjusted Cap cost - 20,065
Monthly payment - 212.58 + 18.6 (tax) - 231.18

Is it a good deal ?

There are so many variations to the lease quotes so it has been tough to compare. Appreciate your help.

in your case (or any other with sales tax involved) you should break down that $2000 payment.

my negotiated price was higher at $29,000 (had mud flaps and floor mats which shouldnt be that much more but...) but your deal should really detail total payments or in your case

$2,000 down
231.18*35 8091.30 or $10,091.30 minus your $2500 makes it $7591.30 or 21.1 cents per mile

mine was zero down. $245.75 * 35 or 8601.25 for 15,000 miles or 19.2 cents per mile

you should compute his quote with $212.58 for comparison since you do not pay sales tax in WA state.

 

[DaveinOlyWA]

you should compute his quote with $212.58 for comparison since you do not pay sales tax in WA state.

well, i compute it the way my wallet sees it. you can compute yours as you see fit. I dont get a $2500 rebate here

 

[gmikol]

Well...I did it. Got myself a shiny new Metallic Slate SV with QC/LED yesterday.

3 years, 12k miles per year

Dealer: Nissan of Portland (OR) 122nd & Halsey
State : WA
Sales tax % : 0
Leaf Trim, options : SV, QC/LED
VIN: 420xxx
MSRP : 34300
Invoice (if you know): 32386
Edmunds.com TMV: 31608
Negotiated Price : 31200
Taxes, Title, Registration : 230
Any other fees (doc, administrative, marketing etc) : 75
Money Factor : 0.00003
Residual: 41%
Downpayment : 37
Monthly payment : 279.48
Drive-off: 622 (this is equal to the DMV/doc + 1st month + down)

I had to fight pretty hard for this deal. It's almost $1200 below invoice on a non-VPP purchase, so your mileage may vary. The internet sales guy I worked with at this dealer was a straight-shooter, though. No tricks or BS. I'm not sure where the $37 cash cap reduction crept in, but it didn't seem worth it to blow up the deal because of it. The mystery $600 that crept in at another dealer, well, that's a different story.

If you want to read a long-winded account of my purchase, you can go here:
http://www.mynissanleaf.com/viewtopic.php?f=23&t=15451&p=347385#p347385" onclick="window.open(this.href);return false;

--G

 

[biggsy]

Well...I did it. Got myself a shiny new Metallic Slate SV with QC/LED yesterday.

3 years, 12k miles per year

Dealer: Nissan of Portland (OR) 122nd & Halsey
State : WA


I had to fight pretty hard for this deal. It's almost $1200 below invoice on a non-VPP purchase, so your mileage may vary. The internet sales guy I worked with at this dealer was a straight-shooter, though. No tricks or BS. I'm not sure where the $37 cash cap reduction crept in, but it didn't seem worth it to blow up the deal because of it. The mystery $600 that crept in at another dealer, well, that's a different story.

If you want to read a long-winded account of my purchase, you can go here:
http://www.mynissanleaf.com/viewtopic.php?f=23&t=15451&p=347385#p347385" onclick="window.open(this.href);return false;

--G

Congrats on the new lease.

I think you are jumping a little too hard on the other dealer. I don't know what exchanges happened between the two of you but the +/-$600 is the other costs that affect the Cap costs. There are several plus and minus figures that are included in the Cap cost reduction. I am sure you wanted a complete list in the email instead of a gross summary and he didn't want to give those until you were ready to sign. You were actually offered a bigger discount off MSRP with the offer you felt was deceptive. If you now look at your lease agreement and use summary figures I am sure based on your $31,200 agreed price and your final Adjusted Cap Cost the difference is not the $7625 rebate.

Sounds like bottom line you got them to come off the acquisition fee on the deal. Your $37 is the amount of rent/interest you are paying over the life of the lease. I wish I would have worked a little harder on the negotiation process of my lease, they made an offer I liked and I took it. Of course that was after I walked out after their first offer, told them no on the second offer, then accepted the third. I didn't due any math until after their second offer, just knew the national ad offered $199/mo.

Congrats again, you will love the leaf I am sure. I am thrilled with mine.

 

[gmikol]

I hear what you're saying biggsy, but if you read the long story at the link I posted, the other offer blew up because it was implied verbally that it was 0 down, but the specifics had 595 down, and the licensing fees went up from their first offer to the final offer. Overall, the total lease cost was higher with the deal I rejected. The deal I took was the better deal, and from a dealer I didn't feel was playing games with me.

I'm thrilled with the purchase, but haven't really driven it yet except home from the dealer and to get groceries. I almost feel like driving it around just 'cause I can. The commuting starts this week.

--G

 

[mchang]

Some quick numbers for Eastside Nissan in Bellevue WA. I know I need more details, but would love the expert feedback on if I'm close to a good deal here.

24 month lease, 12k/year. Two possible cars (S or SV). Looking at the numbers below, it seems that the money factors are quoted wrong in the email, right? What do you all think?

2013 Leaf S with quick charge, floor mats and splash guards

MSRP 31,120
Your price 28,518
Rebate 8,150
Money factor .00012
Residual .49=15248

0 cash down includes all fees and 1st payment ...
True 0 down = 275 a month

2013 SV with quick charge, floor mats and splash guards
MSRP 34,605
Your price 31,773
Rebate 7675
money factor .00008
Residual .51 =17648

True 0 down 332 a month

 

[biggsy]

Some quick numbers for Eastside Nissan in Bellevue WA. I know I need more details, but would love the expert feedback on if I'm close to a good deal here.

24 month lease, 12k/year. Two possible cars (S or SV). Looking at the numbers below, it seems that the money factors are quoted wrong in the email, right? What do you all think?

The offers look pretty much in line with what others have reported. Some have done a little better, like gmikol, but he really did his homework and legwork, pitting dealer against dealer. If you are willing to do all he did (read his links) you can maybe save another $25/mo. The money factors are probably correct, they are for show anyway. Even if they were zero it wouldn't change your lease payment more than $2/mo.

Looks like the decision to make is will the S model do for your situation. The two biggest items on the list, to me, are the better and more efficient heater in the SV and cruise control in the SV. If you need to make a 40 - 45 minute commute in really cold temps you will need heat. I have the S model and the heat works fine but the temps are rarely below freezing and my round trip commute is only 50 miles, so even with it the heat running I have the range to spare. Cruise control is the thing I wish I had thought more about prior to signing my lease. My 40 minute commute is mostly level, all four or six lanes with a 45mph limit on about 30 of my 50 miles with very few traffic lights. Cruise control alone would be worth an extra $20/mo to me, however my wife never uses cruise control even on the interstate with light traffic. The S you are looking at already has the charge package which should include the backup camera. I would not buy an S without the charge package if you plan on using it daily.

Just my 2 cents worth.

Enjoy your new LEAF.

 

[mchang]

Thanks for the response. I am in Seattle so I think I can let price lead the way here. I am going to try and squeeze it under $249/mo because I can wait until March if needed. We'll see!

 

[gmikol]

+1 what biggsy said

Based on the equipment mchang specified, the MSRP for the S should be 31265 (31120 would be without splash guards). Your offer for sale price is almost $1000 below invoice. That's about as good as it gets, I think. Running the numbers quickly, though, it looks like the dealer *may* have built in about $200 of excess fees. (I'm assuming $595 acquisition fee, $240 to register, which is what my OR dealer charged me to register in WA, and $75 doc/admin. My calculations are ~$10 lower than mchang's quoted payment)

The SV quote (same dealer or no?) should have an MSRP of 34615 (not 605). You're also about $900 below invoice here, but here, too, it looks like there may be excess fees tucked in, as well.

You might see $249 a month again on an S as the 2014's start rolling onto dealer lots and the dealers get desperate to move the '13s (this would be a $600 discount from the quoted sales price), but I don't think you're going to find that kind of pricing on an SV, unless it's been sitting on a lot in Phoenix for quite some time, IMO. That would be an additional $1700 discount to the quoted price.

With that being said, $250/mo seems like a magic number. I think if Nissan could reduce the price so that most people could get into a leaf for $250 a month (0 down) after federal incentives, they could probably sell more of them. I know that if my payments ended up over $300, I would have thought about not getting one.

--G

 

[arobincaron]

2013 SV with quick charge, floor mats and splash guards
MSRP 34,605
Your price 31,773
Rebate 7675
money factor .00008
Residual .51 =17648

True 0 down 332 a month

The price seem reasonable but I don't come up with the same the monthly lease payment:

cap cost: $31,773 - $7675 = $24,065
Your monthly rent: ($24,065 - $17,648) / 24 = $6,417 / 24 = $267.38
Interest: ($24,065 + $17,648) x .00008 = $3.34
Total monthly: $267.38 + $3.34 = $270.72

Keep in mind that I didn't factor in the NMAC acquisition cost but should make a difference of about $25/month. Caveat emptor and happy shopping.

 

[mchang]

The price seem reasonable but I don't come up with the same the monthly lease payment:

cap cost: $31,773 - $7675 = $24,065
Your monthly rent: ($24,065 - $17,648) / 24 = $6,417 / 24 = $267.38
Interest: ($24,065 + $17,648) x .00008 = $3.34
Total monthly: $267.38 + $3.34 = $270.72

Keep in mind that I didn't factor in the NMAC acquisition cost but should make a difference of about $25/month. Caveat emptor and happy shopping.

Good point. I was missing the connection as well. Email went out to the sales person. Let's see what they say.

 

[gmikol]

2013 SV with quick charge, floor mats and splash guards
MSRP 34,605
Your price 31,773
Rebate 7675
money factor .00008
Residual .51 =17648

True 0 down 332 a month

The price seem reasonable but I don't come up with the same the monthly lease payment:

cap cost: $31,773 - $7675 = $24,065
Your monthly rent: ($24,065 - $17,648) / 24 = $6,417 / 24 = $267.38
Interest: ($24,065 + $17,648) x .00008 = $3.34
Total monthly: $267.38 + $3.34 = $270.72

Keep in mind that I didn't factor in the NMAC acquisition cost but should make a difference of about $25/month. Caveat emptor and happy shopping.

Also, don't forget about licensing fees & doc fees. Plus, since this is a $0 drive-off situation, I think you have to add the 1st month's payment back into the cap cost. When I do all of that, I get $322, not $332 that the dealer gets.

@mchang--You should reconsider whether you really want this to be a true $0 drive-off. Rather, think about paying your first month's payment at drive-off. That should lower the monthly ~$12-$13/mo (300/24 - 12.5). Just my opinion, though.

--G

 

[sj7trunks]

Hi there,

I've been given these details so far, it seems too good to be true. Can someone help me understand how they can get me this car for $99/month? Should I take it?

Nissan SV w/QC package
Sales Price: 31,888
Sales Tax: 9%
Rebate: $7675
Down Payment: $2,500
Monthly Payment: $99 w/tax
Lease Term: 12K / 36mo
Price per mile over 12K: $0.15

 

[gmikol]

Those numbers don't add up. I just got a 2013 SV with QC, as well. My total lease cost (36*monthly + down + drive-off) was about $10,500, and that's in a no sales tax state. The numbers you provide add up to about $6100 (36*100 + 2500).

I think you need contact the dealer and have him go through the numbers in detail. There is obviously some error in the math or the communication of the offer, or the vehicle is somehow compromised (e.g. it was a Phoenix demo car with significant miles on it), or the dealer is being dishonest (hopefully not).

Best of luck--

--G

 

[pbleaf]

Hi,

I got a quote of $199+tax, Zero down, 'S' trim with quick charger in CA. Is this comparable to what others are getting and do I negotiate further ?

~PB