myth said:I have enjoyed reading this topic for inspiration over the past several months and thought others might be interested in my end-of-lease story. Apologies in advance if it's a bit long...
The 3-year lease on my 2013 LEAF SV reached maturity in August. I liked the car and had kept it in good condition (always garaged, usually trickle-charged, only 12,000 miles). With so many interesting EV's on the horizon (Tesla Model 3, Chevy Bolt, LEAF 2, and the German crowd), I would have liked to keep the LEAF for another year or two. In May, there was a $7500 incentive from NMAC, which brought the buyout price down to approximately market value. I decided to buy the car but didn't move fast enough; the June offer was only $3000 -- couldn't justify paying $4500 above market value to buy my car off lease. July's offer wasn't good either, and I was out of time.
What about a lease extension? Well, when I leased the LEAF 3 years ago, I was on the fence about how much to put down. Depending on the money down, my lease payments could have been $150, $250, or $350. All three were calculated to deliver the same amount of my money to NMAC over 36 months, just a tradeoff between initial and monthly payments. For no strong reason, I took the no-money-down $350 option, not realizing the implication it would have for a possible lease extension. Because the extension offer maintains the same monthly payment, it's a much better deal to make a large down payment if you think you might want to extend. While my no-money-down choice was a wash over the initial lease term, it would have cost me an extra $200 per month during any extension. No, thanks.
I went looking for other options and ended up assuming the second half of a 3-year lease on a Mercedes-Benz B-Class Electric Drive, which I found on Swapalease. For a lower payment than I had on my LEAF, I get to try out a different Electric Vehicle. I've been driving it for over a month, and there are some interesting advantages:
The B-Class maintains its 75-80 mile range at highway speed. In my LEAF, in order to make even a 60-mile trip on the highway, I had to either drive below the speed limit, stop at a charging station enroute, or charge to 100% (versus the normal 80%).
The B-Class has a Tesla powertrain, with lots more torque than the LEAF. Below 25 mph, that can be a pain because you burn rubber if you floor it. But accelerating from 40 to 60 mph is smooth and easy, much quicker than the LEAF.
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In the final analysis, I'm glad NMAC was jerking me around so much with the buyout offers of the month and trying to over-charge me for the lease extension. That prompted me to give up the LEAF, which I liked, and try something else -- which turns out to also be great. The ability to affordably experience a variety of vehicles is one advantage of leasing.
- Mark
ehwang114 said:Anyone have an update on the deals for September? I know the lease buybacks change month to month and 9/6 is the date it would change. I plan to call after work but wanted to check on this forum first.
Cubanx said:Called today
Meh.. brings the payoff slightly under market value. Lease ends 2/2017 so i'll wait for a better offer
TimLee said:OrientExpress posts the auction prices periodically.
See http://www.mynissanleaf.com/viewtopic.php?f=23&t=19362&start=170#p462637 for June prices.
He may update if you send PM.
You can probably find a dealer to get one at auction for around $1,000 anove auction price.
Retail is often $2,000 to $3,000 above auction price.
I think so.GoingForLeaf said:... I assume these are all pre-tax prices. With this my buyback price is not that bad. Am I interpreting the numbers correctly?
Correct, green HOV stickers are still at the limit and the cap hasn't been raised: https://www.arb.ca.gov/msprog/carpool/carpool.htm.sunil said:I considered the Volt - but I believe there are no carpool stickers left for plugin hybrids so I am not going there. Is my info correct ? (All the Volts I see on the road have the green stickers but the CA website says they are all gone so...)
cwerdna said:Correct, green HOV stickers are still at the limit and the cap hasn't been raised: https://www.arb.ca.gov/msprog/carpool/carpool.htm.sunil said:I considered the Volt - but I believe there are no carpool stickers left for plugin hybrids so I am not going there. Is my info correct ? (All the Volts I see on the road have the green stickers but the CA website says they are all gone so...)
If you want a green stickered car now, you'll need to buy a used one.
Yes, it sure seems like it, as of Sept 13, 2016. Discussion at http://www.mynissanleaf.com/viewtopic.php?f=51&t=22583.GoingForLeaf said:cwerdna said:Correct, green HOV stickers are still at the limit and the cap hasn't been raised: https://www.arb.ca.gov/msprog/carpool/carpool.htm.sunil said:I considered the Volt - but I believe there are no carpool stickers left for plugin hybrids so I am not going there. Is my info correct ? (All the Volts I see on the road have the green stickers but the CA website says they are all gone so...)
If you want a green stickered car now, you'll need to buy a used one.
I was at the BMW dealership and they told me that CA restarted green sticker. Checking https://www.arb.ca.gov/msprog/carpool/carpool.htm , it does seem, CA has removed the cap.
cwerdna said:Yes, it sure seems like it, as of Sept 13, 2016. Discussion at http://www.mynissanleaf.com/viewtopic.php?f=51&t=22583.GoingForLeaf said:cwerdna said:Correct, green HOV stickers are still at the limit and the cap hasn't been raised: https://www.arb.ca.gov/msprog/carpool/carpool.htm.
If you want a green stickered car now, you'll need to buy a used one.
I was at the BMW dealership and they told me that CA restarted green sticker. Checking https://www.arb.ca.gov/msprog/carpool/carpool.htm , it does seem, CA has removed the cap.
I would still NOT recommend anyone get a BMW i3 REx unless you like having a decent chance of having a new "hobby". See my post and later replies at http://www.myrav4ev.com/forum/viewtopic.php?p=22118#p22118. I'm not the only one who's observed this (http://www.mynissanleaf.com/viewtopic.php?p=446091#p446091 is an example of someone else who has).
And, I know someone (who isn't that active here on MNL anymore) who had their first i3 REx bought back. Last time I talked to him about his 2nd one, it was close to the CA lemon law threshold for being able ask for buyback due to amount of time in the "spa".
Join https://www.facebook.com/groups/BMWi3/ and hang out on it for a few weeks. You'll see what I mean vs. frequency of significant problem reports (e.g. drivetrain malfunction, breakdown that requires a tow, failed J1772 handle locking mechanism, restraint system error, failed AC, failed heater (in colder months), check engine light (CEL), battery discharging error, etc.) vs. here on MNL. You'll also probably notice a few BMW fanboys and apologists making excuses/dismissing the issues as minor or user error :roll: ...
Yes. On leases, put $0 down. It is not worth the risk.TimLee said:^^^^^ An awfully high $ amount to put down on a lease.
If it ends up totaled those $ are gone.
Hunter1969 said:I just called about a 2015 Leaf SV with a two year lease at 18K miles per year that is up late in October.. The offer was $3K off of my $17K residual with no option to extend the lease. When I called last month is was $2K off residual, and they said that the lease extension for 12 months with two months free ($3500 total cost) would be a standing offer.
So now I have to reconsider what to do, I had resigned myself to the extension. I just do not know if a mint condition SV with 36300 miles is worth $14K. So frustrating.
Does anyone have an educated guess based on the past if the lease extension might come back?
Also, thanks everyone that has contributed to this thread. It has be a great help.
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