Wholesale value of the 2011 Leaf @Auction March 2018

[evnow]

I don't understand these auction prices (vs the odometer). Do they correspond to each other ?

I think if I see a list of actual auction transactions, that would be far more informative.

 

[OrientExpress]

Don't over think it, it's an auction.

For the reported week, there were 21 cars that were on the block and for each condition level, the mileage reported is the average of all of the cars that fit into that condition level.

Typically low mileage cars are cars that come from the manufacturer which have been used for events, promos, as executive or internal use cars. Other sources are dealers that have cars in which the deal went bad after the car was delivered and the transaction had to be unwound (usually credit problems of the buyer). Those cars, while essentially new, have to be sold as used because they have been titled. Other cars that fit this lower mileage profile are lemon-law or manufacturer buybacks which are sold with a marked title. Higher mileage cars are typically lease returns. In this batch there are 4 lease returns that had an average mileage of 15.5K.

 

[evnow]

In this batch there are 4 lease returns that had an average mileage of 15.5K.

What was the price on those ?

 

[OrientExpress]

The lease returns are reflected in the below average yellow box on the graphic.

 

[TonyWilliams]

Gosh, I wonder who would be turning in a lease already? I guess if every USA leasee from Jan 2011 was a 24 month lease.... or maybe something else?

 

[OrientExpress]

These lease returns were from the Hawaii auction. Probably rental cars.

 

[evnow]

Gosh, I wonder who would be turning in a lease already? I guess if every USA leasee from Jan 2011 was a 24 month lease.... or maybe something else?

There were people who turned in early 2011 Leafs to get 2012, when the lease prices really fell. It was like "refinancing".

 

[IBELEAF]

Isn't it cheaper (but not necessarily practical) to trade a lease? I can't imagine the price you have to pay for turning in lease early.

 

[evnow]

Isn't it cheaper (but not necessarily practical) to sell your leased car? I can't image the price you have to pay for turning in lease early.

The way you could do it is to buy the car from NMAC and then trade it in.

 

[TonyWilliams]

Isn't it cheaper (but not necessarily practical) to sell your leased car? I can't image the price you have to pay for turning in lease early.

The way you could do it is to buy the car from NMAC and then trade it in.

Or do none of the above, and just trade the lease in like I did at 5 months. Just called or check online at NMAC for the payoff, and make that your trade in amount.

It's the easiest lease return I ever did.

 

[evnow]

Or do none of the above, and just trade the lease in like I did at 5 months. Just called or check online at NMAC for the payoff, and make that your trade in amount.

It's the easiest lease return I ever did.

They allow that ? Is that some kind of NMAC policy or dealer's ?

 

[OrientExpress]

Moving into another lease where trade-in value is the same as the payoff value of the old lease is commonplace with all dealers. The finance company does not care if you pay the lease off ahead of time (in fact they love it), they just want to make sure they get every penny of what the sum of the original lease value was.

 

[TonyWilliams]

Or do none of the above, and just trade the lease in like I did at 5 months. Just called or check online at NMAC for the payoff, and make that your trade in amount.

It's the easiest lease return I ever did.

They allow that ? Is that some kind of NMAC policy or dealer's ?

Of course they do (and I didn't ask their permission first).

NMAC's policy is to pay the amount due (which I found with my iPad while i was at the Toyota dealer, since the voice operators at NMAC was closed).

Then, it was simply a matter of how much is owed versus value of trade-in. I was upside down a bit, so I added that amount to my total bill for the Rav4.

Then, after I listened to them try and sell me water pump and muffler bearing insurance, extended water pump and muffler bearing insurance, and even gold platinum....

...I was out in just a few hours.

 

[evnow]

Then, it was simply a matter of how much is owed versus value of trade-in. I was upside down a bit, so I added that amount to my total bill for the Rav4.

Yes, this is what I thought. OP thought the normal dealer policy is to make that trade in value = payoff amount.

Anyway, talking to a dealer here, I'd be about $3k down if I try to trade in. Probably better to do a private sale.

 

[OrientExpress]

The February auction values for used 2011 LEAF SL models continues on a predictable and stable path. The fall 2012 incentives are done, and the 2013 models are now in the pipeline, so auction and resale values have returned to a predictable depreciation curve for a 2 year old B class car. On interesting note is that projected 2014 wholesale and resale values for this car have increased significantly from the January report, and are now more in line with what would be expected for a 3 year old car. Please remember that the baseline retail new pricing at wholesale auction on cars that have a federal or state incentive attached to them is the MSRP minus the incentives.

 

[edatoakrun]

="OrientExpress"

...On interesting note is that projected 2014 wholesale and resale values for this car have increased significantly from the January report, and are now more in line with what would be expected for a 3 year old car. Please remember that the baseline retail new pricing at wholesale auction on cars that have a federal or state incentive attached to them is the MSRP minus the incentives...

Any idea what is behind the rational, that a 2011 LEAF that has (post TC incentive) depreciated ~$5k (from retail price) in two years, is projected to depreciate near to $9 k in the next year?

Could that (unlikely, IMO) estimate, be (at least in part) due to it being for a LEAF with only ~8k miles presently, projected to have 20+k miles in a year?

 

[surfingslovak]

Any idea what is behind the rational, that a 2011 LEAF that has (post TC incentive) depreciated ~$5k (from retail price) in two years, is projected to depreciate near to $9 k in the next year?

If you look at the decline in auction prices, that's approximately the amount of depreciation seen over the past twelve months. It averages to about $600 per month.

 

[SteveInSeattle]

Our resale values will be terrible in one year.... too many lease returns will hit used market. On the flip side, a 3 year old Leaf for $13K retail will be a superb buy for someone who has wanted an EV at a reasonable price. All those who leased instead of buying made the right decision! I purchased and am clearly upside down on my loan.

 

[gaswalla]

Our resale values will be terrible in one year.... too many lease returns will hit used market. On the flip side, a 3 year old Leaf for $13K retail will be a superb buy for someone who has wanted an EV at a reasonable price. All those who leased instead of buying made the right decision! I purchased and am clearly upside down on my loan.

A 3 year old LEAF won't go further than 50 miles. 13K would be a bit steep for type of vehicle.

 

[sirfergy]

Our resale values will be terrible in one year.... too many lease returns will hit used market. On the flip side, a 3 year old Leaf for $13K retail will be a superb buy for someone who has wanted an EV at a reasonable price. All those who leased instead of buying made the right decision! I purchased and am clearly upside down on my loan.

A 3 year old LEAF won't go further than 50 miles. 13K would be a bit steep for type of vehicle.

Why do you think a three year old LEAF will have a 30% reduction in range?