End of Lease Strategies?

[pweisel]

I just received the same $8k incentive offer on our 2013 S, 30k miles, as described in this thread That will bring our total outlay for the car to about $13k. I think we will bite.

The 8K offer is good thru September 6th, and our lease ends on the 15th.

Just need to firm up an extended warranty - suggestions?

Also, regarding questions about lease extensions:

We extended to a 3rd year and were able to use the 2 free months at the beginning of the extension. Be aware: The extension does not include the service plan and the roadside assistance plan that we paid about $20 a month extra for BUT NMAC will not reduce the monthly payment, so you are stuck paying for a service you no longer get.

Thanks everyone for your input on this site!

PW

 

[pweisel]

End of Lease Financing:

I called the dealer who says:

They can provide 0% financing (for those with good credit) on leased Leaf purchases IF the car can meet the Certified Used Criteria, which he assured me most do.

Good News: The financing would include an extended "bumper to bumper" warranty - 7 years/100K from the time the car was originally leased.

Bad News: The consumer would have to PAY for the certification, approx $1100.

Anyone know anything about this? Scam for easy cash, or legit? An extended warranty for the "cost" of $1100 sounds better than independent warranty products.

Thanks.

 

[LeftieBiker]

DO they also waive the $400 turn-in fee, and the cost of repairing minor damage?

 

[pweisel]

I asked about significant damage to our clear coat caused by fruit dropped from trees baking on the roof. This was sight unseen on the phone. They said probably ok. There is no other damage/issues for them to find on our car.

I suspect the point is that they make $1100 for a 1 hour inspection and sell the car - they throw in a warranty for a low mile, highly reliable car (which has a separate 8 year manufacturer battery warranty) and make an easy profiit. Their shop can absorb the occasional mechanical failure cost. Perhaps they have their own incentives as well. I remember someone talking about a factory to dealer incentive of $1500 a while back...

That said, a private extended warranty plus financing at a low, but not zero, interest rate (for non certified cars) might cost around $1000 over time anyway, so perhaps it's all a wash to the consumer.

Anyone have another angle? Please enlighten us!

 

[LeftieBiker]

You can get a Nissan used car warranty that basically extends the Nissan warranty, more or less, for another year. I and others here bought one this Spring as our 36 month warranties expired. I'm trying to remember the name of the Nissan dealership that sells them at good prices... I looked at the receipt. Jim Bone Nissan of Santa Rosa. Their used car warranty costs a little more than the new one we got for an extra year, but it's much less than $1k, I think. I'd contact them. You will need a $50-$100 inspection that can be done at any Nissan dealer that services the Leaf. Make sure that your car has passed the 36 months after the In-Service date point, because if it hasn't, you can still get the 48 month (effectively one year) "new" warranty.

 

[pweisel]

The $1100 would extend the warranty an additional 4 years, not just one. That would work out to $275 per year extended warranty cost.

 

[LeftieBiker]

The $1100 would extend the warranty an additional 4 years, not just one. That would work out to $275 per year extended warranty cost.

Make very sure of that. Most warranties go into effect on the in-service date, so a "four year" warranty" would last one year past the factory warranty. Used car warranties do tend to be different, and that $1100 price may be because it really does last four years. Just make certain.

 

[Flyct]

The $1100 would extend the warranty an additional 4 years, not just one. That would work out to $275 per year extended warranty cost.

A CPO (Certified Pre Owned) Nissan warranty covers limited warranty for 7 years from original delivery date and 100,000 miles on the odometer with a $50 per visit deductible.
http://cpo.nissanusa.com/about-cert...e?next=cpo.overview.pfa.tile.limited_warranty

Beware, CPO Warranty is a "Limited Warranty" with only 600 listed parts covered. If you want coverage for 1,900 parts that includes electrical, audio/video navigation, suspension, steering, climate control and brakes you need to also purchase Nissan's Security Plus Extended protection plan.

 

[Flyct]

I found the CPO warranty brochure. It basically covers engine and drivetrain components like cylinder head, oil pan, valve train, timing chain, automatic transmission control module etc. not much coverage for a Leaf
http://cpo.nissanusa.com/download/?n_14cpo_customer_brochure.pdf

 

[LeftieBiker]

If you want coverage for 1,900 parts that includes electrical, audio/video navigation, suspension, steering, climate control and brakes you need to also purchase Nissan's Security Plus Extended protection plan.

I got the "new car" version of that, for about $350 for one more year, with 0% interest monthly payments. I would strongly advise against a 2013 Leaf owner buying a warranty that doesn't cover the climate control and the A/V/Nav unit.

 

[pweisel]

Great info - Thanks!

Has anyone identified/purchased an independant extended warranty? If yes, please share your experience with it.

PW

 

[iluvmacs]

Well, we did it... we purchased our leased '13 SV for $8K off. $11K before tax/title, which is pretty much in line with market value (at least if one were to purchase from a dealer). We love this Leaf a lot, and our other option would be to lease a new one next year (or sooner). A 3-year lease, even with all the incentives they're throwing in now, costs more than what we just bought this for (and we'll still have some equity left in it, too!). We plan to keep this Leaf another 2-4 years and then replace it. The 30kWh Leaf is cool, but just not enough of an upgrade to justify the extra cost for us. And plus we can continue saving up for the Tesla Model 3 that will replace our Prius .

 

[pweisel]

In the end we bought the car with NO extended warranty. Life on the edge!

The dealer kept jerking us around on extended warranty price and coverage - a time consuming PITA - really just trying to increase their profits. Most dealers are such LOW people, barely above thieves. How they live with themselves I do not know. Dealerships really should be called Stealerships as extracting as much $ as they can from you, your grandma or your kids, is always their goal.

Anyway, the factory warranty is not bad in my opinion, and money not spent on an extended warranty can be used for non covered repairs if needed.

Good Luck!

 

[gshepherd]

Many years ago I decided to keep a separate savings account for a self-funded extended warranty. Any time an extended warranty is available on something I'm buying, instead of handing over that premium, I say "no thanks"
and transfer the same to the savings account. After a while, you can repair/replace anything you need to. If you stick to buying reliable goods in the first place, you'll be ahead by a large margin.

Extended warranties: The house always wins.

 

[mcbane]

Hi,

Is there any point in negotiating with different dealerships on a lease buyout, or are the terms set by NMAC and complete not negotiable..

thanks!

 

[LeftieBiker]

Hi,

Is there any point in negotiating with different dealerships on a lease buyout, or are the terms set by NMAC and complete not negotiable..

thanks!

The terms are set by NMAC and can't be negotiated. If you want to be creative, try negotiating with a dealership to buy your car from them as a Nissan CPO car, after turning it in. This has risks, obviously, but if it works it will save money if you have a high residual, and you'll also get a warranty. We don't know of anyone who has done this with a Nissan, but it has apparently been done with other brands.

 

[DaveinOlyWA]

Hi,

Is there any point in negotiating with different dealerships on a lease buyout, or are the terms set by NMAC and complete not negotiable..

thanks!

I think the dealer only has some latitude if you are trading in your LEAF and buying/leasing another. I have seen some pretty wild swings from dealer to dealer.

BUT...

at the same time, you cannot get a quote on a buyout at NMAC. it simply tells you to contact your dealer.

 

[Graffi]

Well, we did it... we purchased our leased '13 SV for $8K off. $11K before tax/title, which is pretty much in line with market value (at least if one were to purchase from a dealer). We love this Leaf a lot, and our other option would be to lease a new one next year (or sooner). A 3-year lease, even with all the incentives they're throwing in now, costs more than what we just bought this for (and we'll still have some equity left in it, too!). We plan to keep this Leaf another 2-4 years and then replace it. The 30kWh Leaf is cool, but just not enough of an upgrade to justify the extra cost for us. And plus we can continue saving up for the Tesla Model 3 that will replace our Prius .

How is it that some of you were able to get $8,000 discount when they would only give us $4,500, but then gave us only a 6 month extension at same monthly payment, with no free months?

We also have a reservation for the Tesla 3, but that could be over two years away, if that. We would like to purchase Graffi (our Leaf), and eventually replace our ICE with the Tesla, or a 200 mile Leaf.

 

[LeftieBiker]

Nissan is changing the term on an often monthly basis, but you should have been able to get whatever discount was offered the same month the other posted got $8k off.

Hey, ilovemacs, when you lease a Leaf with a low residual, you get equity in that, too, as long as you buy it. It's high residual leases that give no real equity. You can buy a 2016 SV off lease for about $12k, meaning about $5k in equity.

 

[jjj240]

Well, we did it... we purchased our leased '13 SV for $8K off. $11K before tax/title, which is pretty much in line with market value (at least if one were to purchase from a dealer). We love this Leaf a lot, and our other option would be to lease a new one next year (or sooner). A 3-year lease, even with all the incentives they're throwing in now, costs more than what we just bought this for (and we'll still have some equity left in it, too!). We plan to keep this Leaf another 2-4 years and then replace it. The 30kWh Leaf is cool, but just not enough of an upgrade to justify the extra cost for us. And plus we can continue saving up for the Tesla Model 3 that will replace our Prius .

How is it that some of you were able to get $8,000 discount when they would only give us $4,500, but then gave us only a 6 month extension at same monthly payment, with no free months?

We also have a reservation for the Tesla 3, but that could be over two years away, if that. We would like to purchase Graffi (our Leaf), and eventually replace our ICE with the Tesla, or a 200 mile Leaf.

That's because of different lease contract.
Read the post more carefully.
All $8k offer is for 2 yr lease term of 2013 model which has higher residuals. make sense?
3yr lease term had $7500 offer back in April 2016.