2015 S w/QC lease price

[TRW]

Newbie here. I'm currently negotiating with a local dealer on a 36-month lease for a 2015 S w/QC. $68/months, 12K/yr, $0.15/mile excess. $13,668 due at signing ($11,025 Nissan rebate + 2,575 customer cash + $68 first month payment) + tax & fees. The seems to be a great deal, besides make sure acquisition fees is included in the above calculation, what other traps I need to be on the lookout for? Maybe review the MSO to ensure it's a new car? Thanks.

 

[DesertDenizen]

$68 a month? Oh boy, I was robbed on my 2015 lease.

 

[LightningLeaf]

Need more information please.

When I leased my LEAF, the main calculation used is negotiated price as if you are buying the car and the residual value at the end of lease. The difference, after subtracting federal credit, Nissan incentives and California rebate of $2500, then plus tax, is the actual cost of the lease.

In essence, I am renting (leasing) the car and paying for the depreciation and tax.

 

[LeftieBiker]

It would seem to be a great deal, especially since you should be able to extend that lease at least one year, to four, when it ends.

 

[TRW]

As I've suspected, it's too good of a deal to be true, the dealer didn't include the tax on $11,025 Nissan rebate in the calculation and want to include the $2,500 California rebate as part of down. Back to the drawing board

Need more information please.

When I leased my LEAF, the main calculation used is negotiated price as if you are buying the car and the residual value at the end of lease. The difference, after subtracting federal credit, Nissan incentives and California rebate of $2500, then plus tax, is the actual cost of the lease.

In essence, I am renting (leasing) the car and paying for the depreciation and tax.

 

[LightningLeaf]

Sorry to hear that. At least you recognized a bad deal ahead of time.

Try to negotiate the purchase price first, this is the biggest variable that you can control. I believe the residual value is pre-determined by Nissan.

I would try again at the end of month, since last weekend of the month is the time when dealers are trying to unload the cars.

A reasonable price would be at invoice price. Offer the price in email for a LEAF that is IN STOCK and tell the dealer that if the price is right, the car can be driven away TODAY.

I did the whole negotiation through text messages and emails. When I entered the dealership I was greeted by fleet manager and ready to sign and I have not even driven a LEAF before.

 

[TRW]

Just leased a 2015 SV for $169 ($185 after tax), $4K drive off.

Sorry to hear that. At least you recognized a bad deal ahead of time.

Try to negotiate the purchase price first, this is the biggest variable that you can control. I believe the residual value is pre-determined by Nissan.

I would try again at the end of month, since last weekend of the month is the time when dealers are trying to unload the cars.

A reasonable price would be at invoice price. Offer the price in email for a LEAF that is IN STOCK and tell the dealer that if the price is right, the car can be driven away TODAY.

I did the whole negotiation through text messages and emails. When I entered the dealership I was greeted by fleet manager and ready to sign and I have not even driven a LEAF before.

 

[sonnylax]

The purchase price is meaningless when you lease a vehicle. I'm not sure why so many people obsess over that figure. It's much more productive to focus on the total cost of (Lease) "ownership" when evaluation potential leases. You are renting the car and paying for the depreciation (& some taxes) for a set amount of time & miles.

You will face two scenarios at the end of the Lease Period:

1. The vehicle purchase price is LOWER then the market value of the vehicle - You can purchase the vehicle and sell it on the open market, to make some money. Alternately, you can purchase it and drive it yourself as you would be buying this vehicle cheaper then you would elsewhere.

2. The vehicle purchase price is HIGHER then the market value of the vehicle - Throw the keys back to Dealer/Financing Group.

In either scenario (# 1 or # 2), you maintain control on whether to purchase or not. I definitely agree with the advice to negotiate via email only.

Once you have agreed upon a deal, you then visit the dealership. If the deal deviates (one penny) from the previously negotiated deal, then you get up and walk out. That is the only way to maintain control with the dealerships.

 

[LeftieBiker]

You don't have to negotiate over email *only*. Just take a calculator with you, and whenever they try to alter the deal, recalculate the total cost of the lease. (The purchase price matters only if you think you may buy the car after the lease ends.) They will realize that they aren't going to pull a Fast One on you as long as you make them give you *all* of the fees and costs associated with the lease, and keep coming up with that total cost of lease.

 

[LightningLeaf]

The purchase price is meaningless when you lease a vehicle. I'm not sure why so many people obsess over that figure. It's much more productive to focus on the total cost of (Lease) "ownership" when evaluation potential leases. You are renting the car and paying for the depreciation (& some taxes) for a set amount of time & miles.

You will face two scenarios at the end of the Lease Period:

1. The vehicle purchase price is LOWER then the market value of the vehicle - You can purchase the vehicle and sell it on the open market, to make some money. Alternately, you can purchase it and drive it yourself as you would be buying this vehicle cheaper then you would elsewhere.

2. The vehicle purchase price is HIGHER then the market value of the vehicle - Throw the keys back to Dealer/Financing Group.

In either scenario (# 1 or # 2), you maintain control on whether to purchase or not. I definitely agree with the advice to negotiate via email only.

Once you have agreed upon a deal, you then visit the dealership. If the deal deviates (one penny) from the previously negotiated deal, then you get up and walk out. That is the only way to maintain control with the dealerships.

I think we have purchase price confused with residual value of the car. As far as I know, residual value of the car is NOT negotiable. You won't know the price of residual until you are ready to sign the paperwork. Once you reach that stage in the leasing process, you don't have a lot of leverage in negotiation.

I do agree that at the end of lease if market price is LOWER than residual value listed on lease, then you should turn your keys in.

Email and/or text negotiation allows you to have the dealer list the price IN WRITING.

For example, I send out emails to few dealerships in my area on a Saturday morning requesting the best price for 2015 S model with QC. I make sure they have the car in inventory by confirming on Nissan website as well as dealership website.

I specifically asked what is the best price they can offer for me to drive it away today.

The one replied just asking me to come down I just replied "No, thanks".

One dealer price came in essentially at inventory price and that's the one I accepted. The dealership was already preparing the car and being charged when I arrived.

At the end of day, negotiated price was at $29,652 with fees with residual value (purchasing option) at $12,247.
$2499 down (which will be $0 after California $2500 rebate) and 35 monthly payment of $228 with taxes which equates to less than
$8000 total payments for 3 years.

I think TRW got a good and fair deal.

 

[QueenBee]

The purchase price is meaningless when you lease a vehicle. I'm not sure why so many people obsess over that figure. It's much more productive to focus on the total cost of (Lease) "ownership" when evaluation potential leases. You are renting the car and paying for the depreciation (& some taxes) for a set amount of time & miles.

I think we have purchase price confused with residual value of the car. As far as I know, residual value of the car is NOT negotiable. You won't know the price of residual until you are ready to sign the paperwork. Once you reach that stage in the leasing process, you don't have a lot of leverage in negotiation.

I do agree that at the end of lease if market price is LOWER than residual value listed on lease, then you should turn your keys in.

Agreed, the purchase price is VERY important to leasing. If the purchase price is $1,000 less that means you'll pay $1,000 less in depreciation as depreciation is purchase price - residual value and AFAIK residual value is set by NMAC so it is what it is at the time.

Purchase price is one piece that plays into the total cost of the lease so one way to make the total cost of the lease go down is to pay less for the car.