Lease Exit Plan

[DaveinOlyWA]

another thing to consider is that Steve Marsh by his reckoning, has 20% range loss (probably more like 12% since its so hard to judge range degradation during Winter and he has NOT loss a CB) over 75,000 miles. Nissans battery warranty does him no good and someone on another thread said "what if I just walked in, plunked down a stack of 100's and sell me a battery, what would they say?"

well that is EXACTLY what Steve did and they told him that as long as there was no defect, there was no and I mean NO battery replacement options available to him. but I fully expect that price to be known in Jan when I turn in my LEAF and its a 2011 so the residual is actually reasonable at $15,000 and change.

but even if a replacement battery is $3-4,000 I have to hold out for the range. so unless there is something up their sleeves they have not told anyone about, that is not going to happen in the next 7 months, so I will lease and it looks like the LEAF will still be the best option for me...

 

[RonDawg]

I think 2012 cars are esp. bad for buying at the end of lease - given high MSRP. Nothing to do with latest & greatest - but pure financials.

I won't be surprised if your residual is not much lower than a brand new Leaf in 2016.

As things stand now, the residuals are likely to be much higher than market price. But as I mentioned earlier, if the price of oil skyrockets, and demand for EVs and PHEVs outstrip supply, that residual may be closer to reality or perhaps was too pessimistic.

Anything is possible in the next 2-1/2 years.

 

[br14n22]

I'm in the same boat as many other drivers, with a payment of 400+. My lease is up in November 2014, so I'm quite interested to see how Nissan reacts when the 2011 leases start coming back.

I'll be keeping an eye on this board come 2014. Should be interesting!

 

[LTLFTcomposite]

Put this in the funny things salesmen say bucket (man that's one big ass bucket)... I asked them what they were going to do with all the Leafs coming off lease, do they expect to have any trouble finding buyers for them, he says to me "Oh we'll never see those, all the cars that come back off lease just get shipped out of the country".

So on your next Caribbean vacation you can expect to be riding in Leaf taxi.

 

[br14n22]

Interesting that this article just was posted a few minutes ago:

http://www.autoblog.com/2013/06/03/nissan-leaf-resale-value-expected-to-take-a-hit/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+weblogsinc%2Fautoblog+%28Autoblog%29" onclick="window.open(this.href);return false;

 

[kubel]

Interesting that this article just was posted a few minutes ago:

http://www.autoblog.com/2013/06/03/nissan-leaf-resale-value-expected-to-take-a-hit/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+weblogsinc%2Fautoblog+%28Autoblog%29" onclick="window.open(this.href);return false;

Just read it. I wonder if Nissan will consider negotiating lease buyouts if they are going to take this much of a hit. I would buy mine if the price was in line with market value.

 

[davewill]

Just read it. I wonder if Nissan will consider negotiating lease buyouts if they are going to take this much of a hit. I would buy mine if the price was in line with market value.

I don't think they will look at it like that. They are more likely to reason that someone who leased a new car before is likely to lease another new car. They won't want to make it easier for you to buy a used one, even your own.

 

[tiblot]

The $40K infiniti EV will be an option in 2014.
I'm expecting it will have 100 miles of EPA range.
http://www.newcartestdrive.com/sneakpreview.cfm?ReviewID=423" onclick="window.open(this.href);return false;
http://en.wikipedia.org/wiki/Infiniti_LE" onclick="window.open(this.href);return false;

Indefinitely put on hold ...

 

[TRONZ]

CarMax currently has 6 LEAFS for sale in our area. Three 2011 SL's, one 2011 SV and 2 new 2013's. The price on the 2011 SL's is between $21-22K and mileage is 17K-20K. Since CarMAx does not negotiate price it will be interesting to see if they sell. This is a very good way to put your finger in the wind regarding what your zip code will pay. Examining the pictures shows the first one (VIN 1547) has FIVE missing bars ($21K), the second has zero bars missing and the third SL's dash is not illuminated.

The CarMax website is a treasure of information if you know where to look.

Link to Vin 1547
http://www.carmax.com/enus/view-car/default.html?AVi=0&id=8999971&N=4294966976+4294961840&Ne=4&D=90&zip=92656&pD=0&pI=0&pT=400&pC=200&pB=0&No=0&Ep=homepage:homepage%20Make&Rp=R&PP=20&sV=List&CD=662+14+966+240+190+398+9&Q=51a9cbe3-064e-4e36-bbf3-245327386d9c" onclick="window.open(this.href);return false;

 

[cgaydos]

CarMax currently has 6 LEAFS for sale in our area. Three 2011 SL's, one 2011 SV and 2 new 2013's. The price on the 2011 SL's is between $21-22K and mileage is 17K-20K. Since CarMAx does not negotiate price it will be interesting to see if they sell. This is a very good way to put your finger in the wind regarding what your zip code will pay. Examining the pictures shows the first one (VIN 1547) has FIVE missing bars ($21K), the second has zero bars missing and the third SL's dash is not illuminated.

The CarMax website is a treasure of information if you know where to look.

Link to Vin 1547
http://www.carmax.com/enus/view-car/default.html?AVi=0&id=8999971&N=4294966976+4294961840&Ne=4&D=90&zip=92656&pD=0&pI=0&pT=400&pC=200&pB=0&No=0&Ep=homepage:homepage%20Make&Rp=R&PP=20&sV=List&CD=662+14+966+240+190+398+9&Q=51a9cbe3-064e-4e36-bbf3-245327386d9c" onclick="window.open(this.href);return false;

So if you want a 2012 go to Autotrader.com or Cars.com and search for NEW ones - not used. You'll see many available in various parts of the country. Some have on-line discounts, some are listed at list price, but I'll bet all of them can be had for a lot less than MSRP if you just email the dealers.

So, you can get a NEW 2012 (or 2011 - there are still a dozen or so NEW 2011s on those sites last I checked) for well under list PLUS all the tax incentives. Depending on your situation that can yield a VERY low price - here in Colorado where we get up to $6k in state incentives that can put you in the low teens.

Ok, it's not for everyone. There are potential issues: You have to pay to ship the car to you. You have to qualify for all of the $7500 in federal tax incentives, and their may be issues with qualifying for your local/state incentives as well. If the car was a demo or otherwise "put into use" by the dealer then the warranty clock has already started ticking. However it's certainly doable - I know, I got my 2011 for a net of about $9k this way.

However, because of the incentives and the presence of so many NEW cars from the previous model years I would have a very hard time paying over $20k or even in the high teens for a used LEAF.

 

[apvbguy]

CarMax currently has 6 LEAFS for sale in our area. Three 2011 SL's, one 2011 SV and 2 new 2013's. The price on the 2011 SL's is between $21-22K and mileage is 17K-20K.

they will not sell at those prices, street prices for 2011s are now under 19k

 

[cgaydos]

With the lease for our first LEAF coming up for expiry in November I've already gotten a notice from the dealer to talk about options for replacement. We have a sweet monthly price ($200/month for 15k miles/year), the car is running great, battery degradation is minimal (cool climate), and we're logging miles at exactly the allowance for the lease.

So I called NMAC and after a couple of internal transfers found someone who confirmed that every NMAC lease can be extended for the same monthly fee with pro-rated miles. The extensions can be signed starting 90 days before lease end and are monthly for up to 6 months. Apparently many multiple extensions are allowed. I forgot to ask about revised residuals, but since our residual is nearly $22k I figure there is no way we'll buy the car (if buying a used 2012 I'd get one for much less from a nearby cool climate state and ship it here to get the 24% CO tax credit on used, out-of-state LEAFs).

There are a lot of improvements in the 2013/2014 models, so if a dealer calls before the end of the year with a great deal I'll consider it. But what I'm seeing here suggests I won't get anything like my current monthly payment without a huge down payment and a new LEAF just isn't worth that much. Besides, like others here I'm hoping that in 2015 we'll get better options - if not an early 2016 LEAF with much better range perhaps similar from a competitor.

 

[LeftieBiker]

Now that I am reading that multiple extensions are possible, I'm planning to keep my 2013 SV for at least a third year that way. I pay $149 a month, the car has been fine aside from design issues and the passenger seat sensor, and I see no downside to paying nothing more down and still having a low monthly payment on a car I like. Once the warranty is up, I'll reconsider, but all options are open (except the Nuclear Option).

 

[evnow]

So I called NMAC and after a couple of internal transfers found someone who confirmed that every NMAC lease can be extended for the same monthly fee with pro-rated miles. The extensions can be signed starting 90 days before lease end and are monthly for up to 6 months. Apparently many multiple extensions are allowed.

What does multiple extensions mean ? Is that multiple 6 month periods - or a max of 6 months with multiple monthly extensions ?

 

[tailgate1234]

So I called NMAC and after a couple of internal transfers found someone who confirmed that every NMAC lease can be extended for the same monthly fee with pro-rated miles. The extensions can be signed starting 90 days before lease end and are monthly for up to 6 months. Apparently many multiple extensions are allowed.

What does multiple extensions mean ? Is that multiple 6 month periods - or a max of 6 months with multiple monthly extensions ?

I signed up for a 12 month extension, not 6, at my very low lease payment. For terms more than 6 months they have to send you a contract to sign. The residual is computed based on the monthly payment and not the other way around. In my case it was only a few hundred dollars less than the original residual. A lease extension is a great option for somebody with a low lease payment.

 

[cgaydos]

So I called NMAC and after a couple of internal transfers found someone who confirmed that every NMAC lease can be extended for the same monthly fee with pro-rated miles. The extensions can be signed starting 90 days before lease end and are monthly for up to 6 months. Apparently many multiple extensions are allowed.

What does multiple extensions mean ? Is that multiple 6 month periods - or a max of 6 months with multiple monthly extensions ?

She said at the end of each 6 month extension I would have the option to extend again.

 

[Turnover]

Thanks! Good information. I would like to extend a good lease until there is more battery capacity and perhaps something settles in the industry regarding quick charger specs.

 

[pthack]

So I called NMAC and after a couple of internal transfers found someone who confirmed that every NMAC lease can be extended for the same monthly fee with pro-rated miles. The extensions can be signed starting 90 days before lease end and are monthly for up to 6 months. Apparently many multiple extensions are allowed.

What does multiple extensions mean ? Is that multiple 6 month periods - or a max of 6 months with multiple monthly extensions ?

I signed up for a 12 month extension, not 6, at my very low lease payment. For terms more than 6 months they have to send you a contract to sign. The residual is computed based on the monthly payment and not the other way around. In my case it was only a few hundred dollars less than the original residual. A lease extension is a great option for somebody with a low lease payment.

I still have 14 mo left on my 24 month lease of my 13 S (w/QC). If I can extend my $99/mo lease another year, I WILL be a happy camper (especially since here in cool Pac NW, I don't see expect lots of batt degradation...)

 

[tailgate1234]

I signed up for a 12 month extension, not 6, at my very low lease payment. For terms more than 6 months they have to send you a contract to sign. The residual is computed based on the monthly payment and not the other way around. In my case it was only a few hundred dollars less than the original residual. A lease extension is a great option for somebody with a low lease payment.[/quote]

I still have 14 mo left on my 24 month lease of my 13 S (w/QC). If I can extend my $99/mo lease another year, I WILL be a happy camper (especially since here in cool Pac NW, I don't see expect lots of batt degradation...)[/quote]

My payment is less than $99/month and they extended it for a full year. They sent a written contract confirming the extension and the crazy low payment.

 

[ObjetDart]

This is great news! I'm coming up on 1 year into a 2 year lease, and at $130/month extending that for another year or two is a no-brainer, especially if the newer Leaf models don't feature any significant range improvements over previous years.