Lease ending options

[DaveinOlyWA]

I just realized the headlight adjustment "scroll wheel" is missing. I used that often on my 2011, and once again I ASSumed it would be on the 2013 with the LED package...but nope.

ya me too but the headlights seem so much brighter on the 2013s so aiming higher for better visibility seems to be less of a need

 

[SantaRosaJoe]

Hi - My lease is up in a few months on a 2011 Leaf, delivered March 2011. It just hit 15,000 miles.

Payoff now is $16,306.78
Purchase option at the end of the lease 4-4-14 is $15,580.40

Kelly Blue Book says:
Trade-In Value is about $14,500
Retail is about $16,000

Thinking about what to do. I'm inclined to buy the car. I love the car and it still has all it's bars. It's been garaged the whole time and charged exclusively on trickle charge. I currently drive about twenty-five miles one-way to work, so the vehicle range works out fine.

I could probably pay a chunk in cash and get a new loan for $10,000. What do you think?

 

[z0ner]

#1. KBB is never realistic. Call around and ask dealers what the trade-in value is. I'd say the value is more at $12K.
#2. Find out how much range you've lost permanently by getting one of the battery capacity apps or Gidmeters. My guess it that it's significant. Mileage isn't against you, but time certainly is.

My lease is up too, but I've got much more mileage and am working on losing the 3rd battery bar. Even if you haven't lost an entire bar yet, I'm sure you're very close.

My recommendation is to release, and then re-lease. This way you give Nissan (or another manufacturer) another 3 years to fix their battery issues or come out with a better product.

 

[LeftieBiker]

I don't use anywhere near the miles allotted me in my 12k lease - I'm just hitting 5k miles after 8 months - so I'm thinking about trying to extend my lease when it ends, either by six months or a year. How hard will that be? Since I put a down payment up front, I figure the longer I can make just my $149 monthly payment, without going over 24k miles, the better...

 

[rclams]

I don't use anywhere near the miles allotted me in my 12k lease - I'm just hitting 5k miles after 8 months - so I'm thinking about trying to extend my lease when it ends, either by six months or a year. How hard will that be? Since I put a down payment up front, I figure the longer I can make just my $149 monthly payment, without going over 24k miles, the better...

Nissan will probably only offer you a "courtesy" extension of up to 6 months, at the same terms. That's all I was able to get out of them.

It's still cheaper to extend your lease than to rent a car, so we'll probably take the extension while we consider our next EV Lease options: new LEAF, BMW i3, Mercedes B Class, .....

 

[DaveinOlyWA]

Hi - My lease is up in a few months on a 2011 Leaf, delivered March 2011. It just hit 15,000 miles.

Payoff now is $16,306.78
Purchase option at the end of the lease 4-4-14 is $15,580.40

Kelly Blue Book says:
Trade-In Value is about $14,500
Retail is about $16,000

Thinking about what to do. I'm inclined to buy the car. I love the car and it still has all it's bars. It's been garaged the whole time and charged exclusively on trickle charge. I currently drive about twenty-five miles one-way to work, so the vehicle range works out fine.

I could probably pay a chunk in cash and get a new loan for $10,000. What do you think?

DO NOT BUT THE CAR.

lease a 2013. they are giving great deals on S's anyway. $8150 rebate. you have the perfect driving profile. plus residual on my 2013 with 15,000 miles is $12,000. you don't need that many miles and big question is what can you live without?

fast charger, cruise control, etc? if you can live without them, you should be able to get into an S for around $220 a month. after your CA rebate, you are talking $150 a month...

 

[edatoakrun]

Hi - My lease is up in a few months on a 2011 Leaf, delivered March 2011. It just hit 15,000 miles.

Payoff now is $16,306.78
Purchase option at the end of the lease 4-4-14 is $15,580.40

Kelly Blue Book says:
Trade-In Value is about $14,500
Retail is about $16,000

Thinking about what to do. I'm inclined to buy the car. I love the car and it still has all it's bars. It's been garaged the whole time and charged exclusively on trickle charge. I currently drive about twenty-five miles one-way to work, so the vehicle range works out fine.

I could probably pay a chunk in cash and get a new loan for $10,000. What do you think?

Why are you even asking the question?

Nissan is offering to sell you a car you know and "love" for slightly below the current retail price.

There is currently no real BEV competition from other manufactures, so unless you particularly need the 2014 LEAF features your 2011 LEAF doesn't have (heat pump, ~6 kW charger, slightly longer range, DC port?) you'd be nuts, IMO, to give up the much lower TCO over future years that your "used" 2011 LEAF will give you.

 

[turbo2ltr]

this is probably a separate thread, but has anyone ever adjusted the lease mileage allowance after signing the lease? I was way under mileage on my 2011 so I never thought about it, but I just realized with my new commute, I have only 300 miles *per year* left over outside of my basic commute miles.

 

[SantaRosaJoe]

Hi - My lease is up in a few months on a 2011 Leaf, delivered March 2011. It just hit 15,000 miles.

Payoff now is $16,306.78
Purchase option at the end of the lease 4-4-14 is $15,580.40

Kelly Blue Book says:
Trade-In Value is about $14,500
Retail is about $16,000

Thinking about what to do. I'm inclined to buy the car. I love the car and it still has all it's bars. It's been garaged the whole time and charged exclusively on trickle charge. I currently drive about twenty-five miles one-way to work, so the vehicle range works out fine.

I could probably pay a chunk in cash and get a new loan for $10,000. What do you think?

Why are you even asking the question?

Nissan is offering to sell you a car you know and "love" for slightly below the current retail price.

There is currently no real BEV competition from other manufactures, so unless you particularly need the 2014 LEAF features your 2011 LEAF doesn't have (heat pump, ~6 kW charger, slightly longer range, DC port?) you'd be nuts, IMO, to give up the much lower TCO over future years that your "used" 2011 LEAF will give you.

I am sitting in the dealership right now, going over options. If I buy the car and pay it off over three years, do I really want to own six-year-old battery?

It's a done deal. I got a new S model on a lease. The payment is $238. It would have been $199 except I got one of the upgrade packages. Thanks for the great input!

 

[edatoakrun]

...I am sitting in the dealership right now, going over options. If I buy the car and pay it off over three years, do I really want to own six-year-old battery?

If I don't want a "six-year-old battery" in ~3 years, I expect I'll replace mine.

But, given your low miles driven per day and per year, I doubt you'll want to.

Why are you at the dealer "going over options" today, when you have nearly 3 months left on you lease?

 

[SantaRosaJoe]

...I am sitting in the dealership right now, going over options. If I buy the car and pay it off over three years, do I really want to own six-year-old battery?

If I don't want a "six-year-old battery" in ~3 years, I expect I'll replace mine.

But, given your low miles driven per day and per year, I doubt you'll want to.

Why are you at the dealer "going over options" today, when you have nearly 3 months left on you lease?

The dealership is paying the last two months of my lease at $465 a month. I'm driving home in the new one.

 

[DaveinOlyWA]

this is probably a separate thread, but has anyone ever adjusted the lease mileage allowance after signing the lease? I was way under mileage on my 2011 so I never thought about it, but I just realized with my new commute, I have only 300 miles *per year* left over outside of my basic commute miles.

interested to find out as well. I am fairly i remember people (here maybe) getting 18,000 mile leases and wondering why I was not offered that. I was going to ask about that but got side tracked and it completely slipped my mind to ask later.

 

[z0ner]

Just FYI, as of TODAY NMAC is not providing any incentive to turn the car in any earlier than what your lease agreement states. They will not forgive as much as one payment let alone the three I've read that people are claiming. Any early turn-in will just combine your remaining payments onto your new lease or purchase.

I'll call Monday to see if I can work them, but today they did not want to deal at all.

I was hoping to grab a MY 2013 SV with LED/QC and Premium, but I'm pretty sure they will be history by the time my lease is up in April.

 

[DaveinOlyWA]

Just FYI, as of TODAY NMAC is not providing any incentive to turn the car in any earlier than what your lease agreement states. They will not forgive as much as one payment let alone the three I've read that people are claiming. Any early turn-in will just combine your remaining payments onto your new lease or purchase.

I'll call Monday to see if I can work them, but today they did not want to deal at all.

I was hoping to grab a MY 2013 SV with LED/QC and Premium, but I'm pretty sure they will be history by the time my lease is up in April.

they forgave my last one

 

[LeftieBiker]

The dealers may be making those payments, not Nissan.

 

[EatsShootsandLeafs]

Lease is up on my leaf mid Jan.
I went to two dealers today. I see the experience is still as horrible as always.
I will forgo the rant about the useless "vultures" they have circling the lot as soon as you pull in that know NOTHING about cars or finances.

First dealer had me there 45 minutes. All I wanted to know was if there were any lease deals. I'm trying to decide to just buy out my lease (which would come out to about the same payment for a 3 year loan on the residual) or preferably lower my payment and not have to worry about the fact that my 2011 desperately needs a battery and tires.

The useless "eye candy" they had help me literally went on to the dealers website and typed "leaf lease" into the search. Well, hell I could have done that.
I want the quick charge port, so I was told I had to get the SL. Well they searched their extended inventory and found no SLs without black leather. I don't want a black interior in AZ.
45 minutes later I walked out with a business card and a handshake telling me that he would call if he found anything. I'm holding my breath...(not!)

I went to another dealer and again got greeted with "eye candy". She seemed just as useless a the first one. I told her what I was looking for and she brought over the real sales guy. But a minute later she comes over and shows me the brochure that says the SL comes in nothing but black leather. Wow, she wasn't completely useless!

Now I'm reading around and see people talking about getting an SV with a QC port, which I specifically asked the first dealer if it could be added as an option and they told me they couldn't. And people wonder why I DESPISE dealers.

So I figured I'd ask here. Can I get an SV with a QC? I assume Christmas time is a good time to get a great deal so I was looking now.

Of course there is always the option of waiting for the 14s with their hot battery...but if I'm leasing, probably wont make too much of a diff.

Haha, you should check the eye candy at my dealership. A year back she was about 22, tall, obviously spent 90 minutes getting ready, wearing high heels putting her over 6'. I guarantee every sales man in there sold less cars with her around because he couldn't concentrate.

 

[EatsShootsandLeafs]

So now that leases are starting to end, I suppose nobody has received an offer from Nissan to buy their car out for less? As I've mentioned in the past my 24 month lease on a '12 SV, which ends this august, has a buy-out of $21,500. That utterly absurdly high buy-out (woefully optimistic) is why the total money out of pocket over 24 months was under $6k to me. But as I figured would happen, the real market value on these is way below $21,500 for a ~20k mile 2012 Leaf SV, so Nissan will take a big bath on it.

 

[DaveinOlyWA]

The dealers may be making those payments, not Nissan.

no nothing like that. I have an itemized lease contract that clearly shows they paid my "drive off" of first month lease payment, title, tabs, etc... but that is all.

**edit** updating my TCO file and just realized something I forgot. my drive off "cost" was actually -$35.75 since I got a check from Oly Nissan for an overpayment on my tab fees :shock: