epic
Well-known member
I read in another post the person was going to extend their lease.Is that an option?would my awsome $139 per month payment remain?
extend lease
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DNAinaGoodWay
Well-known member
Yes. It could happen. You'll have to call NMAC and ask for it.
Turnover
Well-known member
Call customer service and enter a zero for account # to get a live person. Simply ask for an extension. (I was given a six month extension of my current $99/mo lease.) If approved they will give you a code to open an emailed one page form to sign and return. (I needed Adobe Acrobat Reader - free- to open it.)
Hope this makes the process smooth for you. I had several bumps in the road that other forum members helped me with.
Hope this makes the process smooth for you. I had several bumps in the road that other forum members helped me with.
I can report the same. I was able to extend my $127/m 24 month lease on a 2012 SL by 12 months. Signed the paper work about two weeks ago.
It seems you do need to talk to someone to do this. There was no button in the NmFC website to occomplish this process.
It seems you do need to talk to someone to do this. There was no button in the NmFC website to occomplish this process.
Turnover
Well-known member
My adjusted 6 month extension maturity date was posted on NMAC this morning. The residual remains as it was.
Turnover said:
Interesting about the residual...
cgaydos
Well-known member
LeftieBiker said:
Yes, the lease extension contract does not mention residual, so it stays unchanged. I have heard that sometimes NMAC will offer - if you ask - a lower buy-out price. The residual on my 2012 is almost $22k (that's how they did leases back then) for a 30k mile lease. NMAC couldn't get $14k for this car at an auction right now. I won't be buying out this lease for many reasons but if I was considering it I would ask them for an adjusted buy-out price to see what they'd offer.
If I don't lose the bar I think I'll lose I might offer them $13k for mine, after extending it a year.
w6vms
Well-known member
What number did you all call to get the lease extended?
Thanks!
Thanks!
Roadburner440
Well-known member
You can call 1-800-335-1428 do tell them your end of lease intention (buy, turn in, extend, etc).. I was debating extending my lease but they will only do it at your current payment. So for me at over $400 a month that wasn't an option. :lol: I figured they would give me a discount on the payment or something, but nope. I think you need to go to the dealership and either sign paperwork, or they will mail you a new contract showing your extension however.
cgaydos
Well-known member
Roadburner440 said:
Nope I wouldn't extend the lease at that rate.
You don't need to go to the dealership to extend the lease. Just phone NMAC, they send you a contract to sign, mail the signed copy back and you're done.
w6vms
Well-known member
Just another datapoint... my lease started in March 2013, for two years, so it's due in three months. I called on Friday (December 26th) to have it extended, the conversation lasted all of five minutes. I should receive some paperwork in the mail for me to read, sign and return, then the lease is extended month to month for up to twelve months. The original terms remain in effect, including the mile allowance and the residual value.
Being month to month, I can turn the car in at any time, which could come in handy.
Being month to month, I can turn the car in at any time, which could come in handy.
We'll hit the end of our 3-year lease in May 2015, and are trying to figure out "what next?"
I've never quite figured out why our lease payment is $405 when I hear about others at less than $200. Asked the dealer once and he just punted/obfuscated, basically said it's all too complex - no way to know. BS. Anyway, here are the terms of our lease:
* gross capitalized cost: $41,468
* capitalized cost reduction: $12094
* adjusted capitalized cost: $29,373.99
* residual value: $16,838.80
* depreciation: $12,535.38
* rent charge: $3298.23
* total of monthly payments (depreciation + rent charge): $15833.61
Paid upfront at lease signing: $12,500 (credit of $7,500 plus our cash payment of $5,000)
Total time on lease = 39 months
Purchase option at end of lease = the residual + $300
Disposition fee = $395 (amt one pays at end of lease term)
Early termination = there is a charge equal to different between adjusted lease balance and vehicle FMV.
So what's different about our lease compared to others? Why are we seemingly paying through the nose?
Mark
I've never quite figured out why our lease payment is $405 when I hear about others at less than $200. Asked the dealer once and he just punted/obfuscated, basically said it's all too complex - no way to know. BS. Anyway, here are the terms of our lease:
* gross capitalized cost: $41,468
* capitalized cost reduction: $12094
* adjusted capitalized cost: $29,373.99
* residual value: $16,838.80
* depreciation: $12,535.38
* rent charge: $3298.23
* total of monthly payments (depreciation + rent charge): $15833.61
Paid upfront at lease signing: $12,500 (credit of $7,500 plus our cash payment of $5,000)
Total time on lease = 39 months
Purchase option at end of lease = the residual + $300
Disposition fee = $395 (amt one pays at end of lease term)
Early termination = there is a charge equal to different between adjusted lease balance and vehicle FMV.
So what's different about our lease compared to others? Why are we seemingly paying through the nose?
Mark
Weatherman
Well-known member
mtrexler said:
Simple answer is that, like most of us early adopters, we paid too much, although I do have to wonder about the "rent charge". Not familiar with that.
Some of us are getting offers from NMAC for $4,000 or $5,000 off, if we buy out our leased cars. I don't plan to take them up on the offer, since I'm a bit suspicious of my battery capacity reading, and wonder of something is fundamentally wrong with the capacity gauge. I've lost over 25% of my original capacity and still show 11 bars.
That's your problem.
cgaydos
Well-known member
LeftieBiker said:
Yep. In May, 2012, LEAFs were still commanding a premium in most parts of the U.S. The very low price lease deals started in November, 2012 and continued, to some degree, in the early 2013 model year.
I notice you also have a residual under $17k. During the period of great lease deals Nissan discounted the capitalized cost by many thousands and also bumped up residuals over $21k to get the monthly lease rates down. Of course, today those LEAFs coming off lease aren't worth anything near $21k, which is why NMAC is offering up to $5k off the lease buy out price to many of us (I got such a call, too).
Since your lease is for over $400/month it certainly does not make sense to extend it. You could call NMAC and ask if they'd extend it for a lower price - doesn't hurt to ask - but it's unlikely.
I got a great lease deal ($2k down, $149 a month for 24 months) on 5/30/13 but my residual is $18k. Still too high, of course. I will be extending that lease!
essaunders
Well-known member
LeftieBiker said:
I try not to think about how much I paid. At least I've been driving Electric for three years.
Of course I could pay $10k more to get the same range in a bmw now.....
You also drive a Japan-built Leaf, with higher quality and more torque.
