2015 Lease Deals?

[LeftieBiker]

My current lease is $149 a month (plus $10 tax on the extension), after paying $2k down plus $1k in tax. Beat that - I know I won't!

Looking at the current purchase incentives, which look like $5k cash, plus VPP, plus 0% interest financing for up to 72 months, plus that possible $500 coupon, it is clearly much cheaper to just buy this car than to lease it. Usually a lease appeals because the payments are lower, but in this case the total payed over three years is roughly the same, with me either owning the car, or leasing and then buying it for the $11k residual (not a terrible deal) or giving it away after sinking all that cash into it. Since my mileage needs are modest, it's worth considering. I'm guessing it doesn't have QC, but if it does (and passes the Leaf Spy test), I'll likely buy it. If not... I don't know.

 

[r9973]

I am getting a 2015 Leaf SV + QC for either $222 per month for 36 months with $0 down (no 1st month payment) or $159 per month for 48 months with $0 down (no 1st month payment). The way the dealer explained to me, it is cheaper to take the 48 month lease (total cost $7858 including disposition fee) vs 36 month lease (total cost $8184 including disposition fee). He also said, if I want at the end of the 36 months, I can turn the car in and come out ahead even after paying the full 4 year term.

Any catches in this logic? First time leasing a car to not sure how to think about this - any help will be much appreciated.

 

[Valdemar]

^^^ This implies that the residual is about the same whether 36 or 48 month which is a bit suspicious or they are playing games with the money factor. Is the same number of annual miles included with each offer?

 

[LeftieBiker]

It's generally best to not have to end a lease early. The dealer is multiplying the payments and saying that owing a year at $159 a month means owing just an extra $1908 if you break the lease after 36 months. That's fine as long as there are no other charges involved. See if you can get that in writing, and keep in mind that it would apply to this one dealer only. BTW, compared to the lease deal I was offered on a 2015 SV with premium, your offer is a bargain. I'm also very curious what the residual would be. I'm guessing they have set it high.

 

[r9973]

It's generally best to not have to end a lease early. The dealer is multiplying the payments and saying that owing a year at $159 a month means owing just an extra $1908 if you break the lease after 36 months. That's fine as long as there are no other charges involved. See if you can get that in writing, and keep in mind that it would apply to this one dealer only. BTW, compared to the lease deal I was offered on a 2015 SV with premium, your offer is a bargain. I'm also very curious what the residual would be. I'm guessing they have set it high.

Here are the details.

For 36 months, $0 down with 35 payments @ $222.57 per month - SV + QC

MSRP $35,155
CAP COST - Gross $28,756, Cost Reduction $9,877.43, Adjusted $18,878.57
RESIDUAL - 31% $10,898.05
MONEY FACTOR - .00003
Acquisition fee - $595
Disposition fee - $395

For 48 months, $0 down with 47 payments @ $149.76

MSRP $35,155
CAP COST - Gross $28,756, Cost Reduction $9,950.24, Adjusted $18,805.76
Residual - 35% $12,304.25
Money Factor - .00046
Acquisition Fee - $595
Disposition fee - $395

Both are 12k miles per year with a end of lease buy @ the residual value + $300.

I am also aware that any repairs and / or tire wear, etc. after the 3 years will be my liability as the bumper to bumper will have expired.

 

[LeftieBiker]

I would have jumped at the second deal, and would have settled for the first. There is still a major powertrain warranty in effect after 3 years.

 

[DNAinaGoodWay]

The residual is higher at 4 yrs than at 3? Fascinating.

 

[mathprofcarrie]

Okay, so here is my deal. I'm going to have to update my signature!
I was coming off of a $201 for 15k, 2 year ($0 down). I was paying $212 month to month after taxes

I signed on 1/1/16, but most of the deal specifics were set up via email quote with dealer during the week in advance.

Length: 3 year lease,
Mileage: 15,000 miles
Model: Leaf SV (black)
Dealer: Balise Nissan in Warwick, RI

Payments: $214.28.

At signing: I paid $700 at signing which includes the first month and Maine sales tax (412.48 upfront is Maine state law) and a little bit of change that I donated towards the rest of my negotiated needs: snow tires and delivery to Maine (they threw both of these in for the $70ish left and about a $2/month raise in payment from the original quote online - included in the rate above - since I asked them to pay 1/2 the upfront costs). They were running a $500 gift card and a new grad promotion that I rolled into lowering the lease cost, and of course Nissan has its own lease offers. They show total rebates at $11050.

Residual: 10,086
Disposition fee: 395

It took a little while with the holidays to confirm insurance, get back to town and show them the grad diploma picture, etc. The car arrived this morning with snow tires on and the old ones in the back. It is the first time I've tried snow tires on a Leaf, but I wanted a little better snow handling and ease of getting out of my steep driveway. I thought it was worth a try.

 

[sgd2z]

2015 SL+Premium
MSRP: 38140 (including destination)
Final Price after all rebates/incentives: 20039
Price after all dealer fees, taxes, tag, transporting the car from out of state dealership etc.: 22000
Residual: 11823
Money Factor: 0.00003
0 due at signing
Monthly payment (35 months) = 295

 

[beef1218]

Leased my 2015 Leaf today.

Model: base SV (no QC, no premium package)
Term: 36 months / 12000 miles
Down payment: 2692 (2500 + first month payment with tax)
Monthly payment: 175 (192 after tax in CA)
Residual: 10451
Money Factor: 0.00003
Disposition Fee: 395
Acquisition Fee: 595

There is a $2500 California Clean Vehicle Rebate that I will get.

I am in Bay Area of California. I called all the dealerships nearby and found that there are not many 2015 Leaf left. I tried but couldn't get the deals as good as others posted here.

 

[Deleted member 9549]

Leased my 2015 Leaf today.

Model: base SV (no QC, no premium package)
Term: 36 months / 12000 miles
Down payment: 2692 (2500 + first month payment with tax)
Monthly payment: 175 (192 after tax in CA)
Residual: 10451
Money Factor: 0.00003
Disposition Fee: 395
Acquisition Fee: 595

There is a $2500 California Clean Vehicle Rebate that I will get.

I am in Bay Area of California. I called all the dealerships nearby and found that there are not many 2015 Leaf left. I tried but couldn't get the deals as good as others posted here.

Enjoy your LEAF. It can be a fun car.

But thats way more than I would have paid. No way I'd pay $2700 down on a 85 mile EV when 106 mile EV is available now and 200+ mile EV is coming by the end of the year. I'm spoiled. Back in 2013, when no better car was on the horizon, and not in CA so no state tax rebate, I paid $205 down and $205/mo including taxes.
Prices just seem way to high now. You could probably get that good a deal on a 2016 in a few months.

 

[cwerdna]

^^^
I think part of it is that the residuals are set to something more realistic.

When I leased my '13 Leaf SV w/both premium and QC + LED packages for 2 years/24K miles total, the residual was a nutty $20,601. How much did it fetch for at auction after I returned it? $11K including auction fees.

 

[beef1218]

Leased my 2015 Leaf today.

Model: base SV (no QC, no premium package)
Term: 36 months / 12000 miles
Down payment: 2692 (2500 + first month payment with tax)
Monthly payment: 175 (192 after tax in CA)
Residual: 10451
Money Factor: 0.00003
Disposition Fee: 395
Acquisition Fee: 595

There is a $2500 California Clean Vehicle Rebate that I will get.

I am in Bay Area of California. I called all the dealerships nearby and found that there are not many 2015 Leaf left. I tried but couldn't get the deals as good as others posted here.

Enjoy your LEAF. It can be a fun car.

But thats way more than I would have paid. No way I'd pay $2700 down on a 85 mile EV when 106 mile EV is available now and 200+ mile EV is coming by the end of the year. I'm spoiled. Back in 2013, when no better car was on the horizon, and not in CA so no state tax rebate, I paid $205 down and $205/mo including taxes.
Prices just seem way to high now. You could probably get that good a deal on a 2016 in a few months.

Yes I did realize that it is higher the many others' here. I called 4 dealerships nearby and this is the lowest price I could get. There was another dealership that had only 1 2015 Leaf left. The first thing they asked me was "what would take you to buy this Leaf?" They were so eager to get rid of it and still the lowest price they offered was higher than my final price. I guess maybe the price varies per area and here 2015 Leaf is still selling well so dealers won't want to go much lower.

It's not really $2700 down. It's $2500 down plus the first month payment ($192 after tax).
I see most people here posted lower price deals, but few mentioned state rebate. Is it because they are in a state that do not offer a rebate? If you consider the $2500 CA state rebate cancelling out the $2500 down, it is actually like zero down, right?

 

[LeftieBiker]

You didn't do badly. The current lease offers, including on the remaining 2015s, are pretty terrible. Basically you got a car with fewer options (that I assume you don't want or need) for a reasonable price, at a time when others are paying through the nose for a few more miles of range and/or more options. And if you like the car, it will be a good deal to buy it when the lease ends.

 

[whollins]

How's this deal? I was rear ended in my 2015 Leaf so I'm in the market for another one. NIssan must think the 2016 are made of gold. Or at least around here.

Here is what I got for a deal:

$387/mo
24 month lease
zero down - nothing up front

money factor .00003
residual value $11,818 34% of $34,760 MSRP.
$20,425 Net Cap Cost (Includes $10,050 in rebates)

Can't justify a 2016 for the price.

Thoughts?

 

[inphoenix]

How's this deal? I was rear ended in my 2015 Leaf so I'm in the market for another one. NIssan must think the 2016 are made of gold. Or at least around here.

Here is what I got for a deal:

$387/mo
24 month lease
zero down - nothing up front

money factor .00003
residual value $11,818 34% of $34,760 MSRP.
$20,425 Net Cap Cost (Includes $10,050 in rebates)

Can't justify a 2016 for the price.

Thoughts?

Seems expensive but it would help if you update your location in your profile so that state incentives can be factored in. Also, is this S or SV?

 

[whollins]

Phx, AZ.

SV with QC and LED.

 

[inphoenix]

Phx, AZ.

SV with QC and LED.

I don't know what the dealers have been smoking in our city but the best quotes I got (for 2016 SV) were close to $500 with nothing down for 36 months so from that point of view this seems good. Also it is nice that this is a 2 year lease and you will be ready to jump on a new (higher range vehicle sooner). Though I would have liked this number to be around low $300s.

Which dealer is this?

 

[r9973]

So, I got an email from the dealer who gave me the deal below... it looks like they put in the residual incorrectly and the revised residual jumps my payment by $40 per month - supposedly they made a mistake in computing the residual. This was for the 48 month lease, current payment is $149 per month and revised would supposedly be $189 per month

The lease was signed, I have been using the car for about 3 weeks now - they are going to play with the numbers and get back to me.

Any thoughts on how to handle this? I am inclined to tell the dealer to eat it or can they force me to return the car?

It's generally best to not have to end a lease early. The dealer is multiplying the payments and saying that owing a year at $159 a month means owing just an extra $1908 if you break the lease after 36 months. That's fine as long as there are no other charges involved. See if you can get that in writing, and keep in mind that it would apply to this one dealer only. BTW, compared to the lease deal I was offered on a 2015 SV with premium, your offer is a bargain. I'm also very curious what the residual would be. I'm guessing they have set it high.

Here are the details.

For 36 months, $0 down with 35 payments @ $222.57 per month - SV + QC

MSRP $35,155
CAP COST - Gross $28,756, Cost Reduction $9,877.43, Adjusted $18,878.57
RESIDUAL - 31% $10,898.05
MONEY FACTOR - .00003
Acquisition fee - $595
Disposition fee - $395

For 48 months, $0 down with 47 payments @ $149.76

MSRP $35,155
CAP COST - Gross $28,756, Cost Reduction $9,950.24, Adjusted $18,805.76
Residual - 35% $12,304.25
Money Factor - .00046
Acquisition Fee - $595
Disposition fee - $395

Both are 12k miles per year with a end of lease buy @ the residual value + $300.

I am also aware that any repairs and / or tire wear, etc. after the 3 years will be my liability as the bumper to bumper will have expired.

 

[Valdemar]

How's this deal? I was rear ended in my 2015 Leaf so I'm in the market for another one. NIssan must think the 2016 are made of gold. Or at least around here.

Here is what I got for a deal:

$387/mo
24 month lease
zero down - nothing up front

money factor .00003
residual value $11,818 34% of $34,760 MSRP.
$20,425 Net Cap Cost (Includes $10,050 in rebates)

Can't justify a 2016 for the price.

Thoughts?

Gold? More likely they think they are made of crap, that must be the only logical explanation for the 34% residual after 24 months.