Turnover
Well-known member
I was advised that I could get $7000 off our 2012. That doesn't match up well with retail in this area either.
End of Lease Strategies?
- Thread starter sonnylax
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like2bike
Well-known member
I am planning on going for the discounted lease payoff on my 2013 LEAF S ($6000 discount this month). The dealer I leased from didn't know about the discount and I gave up trying to get them to look into it. The next dealer wants to charge me sales tax on the pre-discounted price. This would be another $519. I'm in NY and I seem to remember they get away with doing this on new car rebates but I'm not sure this is the same thing. Anyone else have this problem. Doing a search here I only found one answer that was the tax is on the discounted price, but it didn't mention the state.
AFAIK the tax is on the actual amount paid for the lease, not any pre-discounted price.
iluvmacs
Well-known member
I just called them as well since our lease is due in June. Can extend another 12 months on our '13 SV, or get $6K off purchase. Only good until end of Feb. Very timely of me to start checking so early! Big thanks to people here for posting that they were doing this, otherwise I would have missed it for sure. 
I assume that you'll be extending, to take advantage of better lease offers later in the year? If they'd just raise that discount enough to let me buy the car for market value, I might actually do that.
like2bike
Well-known member
LeftieBiker said:
I got them to correct their pre-discount tax "mistake" after I called NMAC and they confirming the tax is after the discount. The whole story of my lease buy-out ordeal is on my blog here: http://like2bike.myevblog.com/sample-page/lease-buyout-experience/
And the receipt is here: http://like2bike.myevblog.com/files/2016/02/lease_buy_out_receipt.pdf
The dealers do this with annual safety inspections as well. I had to get my bill corrected to $10 on my last one. The other tactics you mentioned in the blog are also pretty typically slimy.
MikeinDenver
Well-known member
like2bike said:
Did you receive your full tank of gas?
Thanks guys for sharing the phone number (1-800-854-3310) and experiences. I just extended my lease by another 12 months. Buyout price after 6K discount was 12094 + taxes + dealer fee if any. I was also told that the 6K discount or 12 month extension offer is valid until Feb 29. I have 2013 Leaf S with charger package. 35K Miles.
Redjr
Well-known member
LeftieBiker said:
Thank you, and this forum, for this valuable information. If you search around on the NMAC website, on one screen, there is the option of extending, on another there isn't. In the packet of information that they send you, around 2 months before your lease expires, there isn't an option for extending.
iluvmacs said:Can extend another 12 months on our '13 SV, or get $6K off purchase. Only good until end of Feb. Big thanks to people here for posting that they were doing this, otherwise I would have missed it for sure.
Hello and Thanks to a fellow Wisconinite. The "only good until Feb 29th", was mentioned before, but I missed it.
I was offered the same, 6K off to buy out, or extend up to another year. And I have 4 days to let them know. Maybe they will extend that current offer past 2-29, maybe not.
My only concern is, the warrantee is over going into month number 37 and (I believe) that the free CarWings (NissanConnect) is no longer free. Anyone know what the cost of that is per month. It's not a deal breaker, but I used it quite a bit, it will be missed.
I did ask the gentleman at 800-854-3310 what would happen if suddenly there was 10K of (non accident) repairs that needed to be done, and he replied that I would be responsible for those repairs. I couldn't just turn the car in that way. So that's a risk, for sure.
But to extend at the current low payment is a very attractive offer, even with gas prices at 1.70 per gallon. Especially compared to what I am paying on the 2015 that I am also leasing.
Decisions, decisions.
Hello all,
After reading pretty deep into this lengthy thread (back to early 2015 or so) I have concluded that many of you are interested in extending your leases while some of you, like myself, are interested in taking various "buyout discounts" that have been offered.
It is my understanding that the current buyout offer, good only for a few more days until 2/29/16 is $6k off residual value... but who knows if this will go back up to $6.5k or down to $5k on 3/1/16, as people have indicated these discounts have previously been. Quite the gamble!
Here is my question for you all... What would you do? / What advice can you give? ...Based on the following info about my LEAF:
2013 LEAF SL
Leased on 6/21/13
Bose Sound System and Around View Monitor (Premium Pkg?)
6.6kw charger w/ DCQC Port
~52,500 current miles with 60,000 miles max allowed on the lease (most of the miles are likely to be used but not exceeded)
ZERO Capacity Bars lost (IL home and work garage kept, usually charged to 80%, infrequently DCQC'd, infrequently charged to 100%)
$16,334 Residual Value with current monthly payments of $463.33 after $0 down (used Fed $7.5k as my down payment)
Given $6k off my residual value (added in below) the Cars.com auto loan calculator suggests the following:
Residual Value: $16,334
Buyout Vehicle Price: $10,334
Down Payment: $0
Trade-In Value: $0
Sales Tax: 8.25%
Approx (APR): 5% (my guess based on what I see at my bank)
Term (Months): 36 months
Monthly Payment: $335.27
This would lower my monthly payment by almost $130/month and probably get me to 120,000 gas free miles with little maintenance. Thus far, I have had little to no real problems (knock on wood.) I am really leaning toward buying it out (esp. if the $6k incentive exists) and keeping the car for another 3 years and approximately 60k miles more. Then it will be paid off and I can sell it for whatever I can get and use that as the downpayment toward whatever exists then! Maybe I'll put $1k down on March 31st 2016 for the Tesla Model 3 and by the time June 2019 rolls around, my 36 extra months of payments will be done and that car will actually be out!
Thoughts?
After reading pretty deep into this lengthy thread (back to early 2015 or so) I have concluded that many of you are interested in extending your leases while some of you, like myself, are interested in taking various "buyout discounts" that have been offered.
It is my understanding that the current buyout offer, good only for a few more days until 2/29/16 is $6k off residual value... but who knows if this will go back up to $6.5k or down to $5k on 3/1/16, as people have indicated these discounts have previously been. Quite the gamble!
Here is my question for you all... What would you do? / What advice can you give? ...Based on the following info about my LEAF:
2013 LEAF SL
Leased on 6/21/13
Bose Sound System and Around View Monitor (Premium Pkg?)
6.6kw charger w/ DCQC Port
~52,500 current miles with 60,000 miles max allowed on the lease (most of the miles are likely to be used but not exceeded)
ZERO Capacity Bars lost (IL home and work garage kept, usually charged to 80%, infrequently DCQC'd, infrequently charged to 100%)
$16,334 Residual Value with current monthly payments of $463.33 after $0 down (used Fed $7.5k as my down payment)
Given $6k off my residual value (added in below) the Cars.com auto loan calculator suggests the following:
Residual Value: $16,334
Buyout Vehicle Price: $10,334
Down Payment: $0
Trade-In Value: $0
Sales Tax: 8.25%
Approx (APR): 5% (my guess based on what I see at my bank)
Term (Months): 36 months
Monthly Payment: $335.27
This would lower my monthly payment by almost $130/month and probably get me to 120,000 gas free miles with little maintenance. Thus far, I have had little to no real problems (knock on wood.) I am really leaning toward buying it out (esp. if the $6k incentive exists) and keeping the car for another 3 years and approximately 60k miles more. Then it will be paid off and I can sell it for whatever I can get and use that as the downpayment toward whatever exists then! Maybe I'll put $1k down on March 31st 2016 for the Tesla Model 3 and by the time June 2019 rolls around, my 36 extra months of payments will be done and that car will actually be out!
Thoughts?
You are in kind of the opposite situation from me: I have a very low lease payment and a low mileage car, while you have a very high lease payment with a high mileage car. Given that you like the car, and that buying it will actually lower your costs, I suggest that you either buy it, or buy - not lease - a 2016 Leaf, as the purchase prices aren't bad compared with the leases. Leaf Spy would tell you if you are near losing that first capacity bar. Failing that, is the car's range significantly lower than when new, or not? Also, out of curiosity, what is the build date for your Leaf?
ALF
Well-known member
Just got a letter from NMAC offering me $7,000 off the lease residual value ($21,814) if I buy my 2012 Leaf SV. That's still $14,814 for a 2012 EV with 42k miles. I'm thinking that is not a good deal. I extended my original 24-month lease twice to end up with a 42-month lease, and I would be very happy to get another extension, but apparently that is not in the cards. So, I'm turning in my Leaf a month early.
Just had my end-of-lease inspection, and they told me $0 in excessive wear & tear costs.
Just had my end-of-lease inspection, and they told me $0 in excessive wear & tear costs.
mihird
Well-known member
ALF said:
I don't think, it is a good deal either. Extending leases so long have a downside....you are already putting so much money in the lease payments by then.
I let go a 2013 Leaf SV with 45,000 miles that I had put through the 3 year lease, which was offered to me at $11,000 after NMAC discounts. I last heard from dealer, it sold for a mere $6900 at auction.
I too had $0 in excess wear & tear costs, by the way...
Your 2012 SV is certainly not worth $14,814 with 42,000 miles on it.
Unless, like me, your payment is so low that it's the cheapest way to drive a nice car at all, much less an EV. I'd pay $159 a month for mine until the 11th bar dropped.
I agree, ALF, too expensive.
mihird
Well-known member
Yep. You really have to do your individual math with the no. of miles you are putting/month, your monthly lease payment, and how many months you are wanting to extend...
Each individual lease situation will work out to be a bit different.
Each individual lease situation will work out to be a bit different.
Redjr
Well-known member
Is anyone besides me, even remotely concerned about running around with their vehicles out of warranty? For being on the hook for mechanical failure on a relatively newer design and concept, seeing that these cars have only been around since 2011.
A friend of mine is truly a master mechanic, he is the shop manager at a well known auto repair shop, and has another shop that he does side work with. If we were talking about a ICE vehicle here, I wouldn't give it a second thought. I would know that whatever failed on the leased ICE, he would be able to fix it for slightly over dealer cost, part and materials.
But this (I would think), is a different creature. Sure, some thimgs are the same, brakes, shocks, struts, etc, but not too many shops have the diagnostic equipment to tackle the electric portion of the car. And in my area, I'm guessing there is only a couple technicions trained to be able diagnose and repair these. I'm worried about paying someone $100+ per hour to try and figure out why the car won't move.
These are just thoughts that I am having. Maybe I'm being excessively cautious.
A friend of mine is truly a master mechanic, he is the shop manager at a well known auto repair shop, and has another shop that he does side work with. If we were talking about a ICE vehicle here, I wouldn't give it a second thought. I would know that whatever failed on the leased ICE, he would be able to fix it for slightly over dealer cost, part and materials.
But this (I would think), is a different creature. Sure, some thimgs are the same, brakes, shocks, struts, etc, but not too many shops have the diagnostic equipment to tackle the electric portion of the car. And in my area, I'm guessing there is only a couple technicions trained to be able diagnose and repair these. I'm worried about paying someone $100+ per hour to try and figure out why the car won't move.
These are just thoughts that I am having. Maybe I'm being excessively cautious.
Yes, I've expressed the same reservation here, but in my case it makes more sense to allocate $100 a month for a possible repair than to pay much more than that every month for a new lease, guaranteed.
LeftieBiker said:
I do like the car, a lot. I am very much thinking of buying it out with the discount offers NMFAC seems to be giving as it will indeed lower my monthly payment costs given the right length of financing. I am just worried about the gamble of if the buyout discount offer goes up or down. If it is indeed $6k then that seems good but I wonder if it will go up to $7k?
To answer your questions, I don't notice any difference in range since the day I got it and I believe the car was built in June of 2013. I took delivery of it on June 21, 2013 and I found a paper with all kinds of codes on it that has the date 6/6/13 on it. It looks like manufacturing codes for various things the car has on it so I'm guessing it was built on or close to 6/6/13.
dm33
Well-known member
Yes, we are actually quite worried about it.Redjr said:
Has anyone taken their LEAF in for a checkup before the warranty expires? How much would they charge to look it over? I've noticed some popping noises from the front end on cold mornings. I'm assuming some something in the suspension just being cold, but wonder if it could be the CV joints.
We've ordered a Mini Cooper, and its almost here, but we're suddenly hedging given how small it is. We can extend our lease again, making it a 4 year lease, but worry about warranty. We still have 12 bars, capacity is running around 90%.
