End of Lease Strategies?

Mine's up in September, 39 month lease.

A lot may change in my life from now till then, but if it's $4k off *and* they remove B0133... I'm leaning towards a strong maybe.

The other option has air conditioned seats and nearly 10 kWh more than my current capacity. That's a very tough choice to make.

Everything looks to be a go on the $4000 off. The letter probably just said what they would have pitched via the phone (if we answered it.)

Lease end options:
1. Purchase your current LEAF and receive $4000 of the lease payoff
2. Extend your current lease another 12 months
3. Buy or lease a new Nissan LEAF

Once I called, they contacted the dealer with the info and the paperwork is nearly complete and I'm getting to keep my 2012 SL for what I now feel is a good price (and I don't have to worry about all those dents and dings.) This makes me feel better since there was no price bargaining on the front end -- I wanted the first one in the county and knew the dealership was being dragged into the EV thing somewhat less than willingly (with the costs that entailed.)

Also this was our third new Nissan purchase/lease in a row (not sure if that was a factor or not)

Any idea who at NMAC I might try to contact top get this deal?

I'm planning on turning in my car tomorrow, the runway is pretty short

For $4k off I might be inclined to buy it.

LTLFTcomposite said:

Any idea who at NMAC I might try to contact top get this deal?

I'm planning on turning in my car tomorrow, the runway is pretty short

For $4k off I might be inclined to buy it.

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sent you a pm

Larry , do you mind telling us what your residual is ?

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kmp647: The end-of-lease residual is $16,839 (2012 SL model). I have misplaced my most recent statement, so I don't know the current payoff, but I imagine it would basically be the same as a couple of monthly payments added on.

My car still shows 12 bars and only has a bit over 18,000 miles, so maybe they want to penalize me for not wearing the car out and so won't give me a deal. I guess they have all the data reported to them (foolish me for agreeing to have data transmitted - too late to stop now).

Their website currently shows a 36-month lease plan for a 2015 SL with lower payments than I have (plus a lower initial payment than I made) and a residual of $14,182. If they still offer that plan at the end of January I may try to swap for that plan (though probably for an SV).

Both Kelly Blue Book and the Black Book estimates are less than $14,000, so I would consider buying at that price, but for nearly $3,000 more, I don't see much appeal.

Hmm if they knock $4000 off my residual I might buy. That gets me all in for 23K on 2012 SL. This is in a non rebate state. I have until Feb 16 anyway so they might want to not get the car back even more by then. :lol:

It took some doing on the phone but the person I spoke to finally found the info on the $4k off residual deal, that would bring it down to $12k and change. Supposedly the dealer will be calling me, we'll see how that goes. Unless I can get some assurance the B0133 thing won't be an issue I don't want the car even at that price.

You're right about them wanting those cars even less as time goes on, IMO they are in for a rude awakening as more waves of lease returns hit.

With me likely hitting 60,000 miles a little bit before I lose the 4th capacity bar, and thus the expiration of the capacity warranty, I would be a full to even consider buying out or extending the lease...

LTLFTcomposite said:

You're right about them wanting those cars even less as time goes on, IMO they are in for a rude awakening as more waves of lease returns hit.

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same with me , I have 10 fresh bars at 48,275 miles, and I have little chance of losing 2 more in 12,000 miles


so even with the offer to purchase at a reduced price I am going to pass and turn the car in.

it will be a 2 bar loser in otherwise good shape 50,000 miles 2012 SL and will bring 11k at auction at best
the residual is $16,500

LTLFTcomposite said:

It took some doing on the phone but the person I spoke to finally found the info on the $4k off residual deal, that would bring it down to $12k and change. Supposedly the dealer will be calling me, we'll see how that goes. Unless I can get some assurance the B0133 thing won't be an issue I don't want the car even at that price.

You're right about them wanting those cars even less as time goes on, IMO they are in for a rude awakening as more waves of lease returns hit.

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BTW, don't count on the dealer calling you! find out who the offer was sent to at the dealer and call them yourself, the offer is usually sent by email
tell them to look for the offer, its has your vin# and or name in it.

kmp647 said:

listless said:

Strange , I received several phone calls from NMAC with the $4,000 off offer but no letter. The dealership received a special email from NMAC with instructions on how to apply the offer.

Can you post details of the letter for us?

BTW mine is a 2012 and east coast and 39 mo lease as well, I see some common things on who gets the offer

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I just got this letter today, my lease is up on 12-28-14. I had a 24 month lease, and mine is a 2012 from Wisconsin.

The letter states "Act now to receive up to $4000 NMAC Lease Loyalty Cash when you lease a new Nissan.

BUT in the fine print it is for the Armada only (it appears) It definitely excludes the Leaf.

So, the old bait and switch, unless you want an SUV.

At least that is how I am reading this...I emailed all 4 of the dealerships that I was presently dealing with to get into a new Leaf today. I started this process about a week ago, as a last ditch effort to get into a new one, before I extend my present lease through the winter.

My inspection in set up for 12-2, at my house. I have some minor body damage, I'm curious/anxious about how they are going to handle it. But with the $500 waiver...well who knows. My tires are at 5/32, but have a set of snow tires mounted and ready if I keep this one. They will go on the 2013 if the 2012 gets returned.

I'll report back when I hear back from one (or more) of the dealerships that I am working with.

This is some other type of offer. The offers we are referring to are when you buy your existing Leaf

Not buying a new leaf or other Nissan , totally different

The dealer did get back to me with the reduction in the buyout price. So about $12,300 plus tax, and I think there was an additional buyout fee ($300?) that would have applied. In the final analysis the uncertainty over whether I would be denied the battery capacity warranty, whether a warranty replacement would last any longer assuming I did get it, and the risk of other unknown costly repairs led me to the decision it just wasn't worth it.
So this afternoon the lease was "grounded" and we said goodbye to our first car that didn't run on gas.

Prob the right move , seems like Nissan isn't getting many takers even at 4k off

Maybe they should offer $6k off , for those who can get a free battery by the 60k mark it's a no brainier

A 2012 leaf with 50k miles well cared for and a new free battery will go to 110to 130k

Prob with little maintenance or repairs, if you are lucky

For me , with no hope of losing 4 bars by 60 k, just can't do it at almost any price

All it would have taken was one $3500 parking brake actuator to sink the business case.

Returned my '12 yesterday too. Residual was over $21k and they never offered less, but I didn't ask either. They told me it will go to auction. Never lost a bar up here in the cold, but winter range loss is like seasonal bar loss. It was a good car for me, never had a problem. Thought the EV market would have more choices here by now, but happy to have a faster charger and heat pump anyway. Looking forward to 2017.

Good news (I think)!

It looks like I'm set up to get the $4K discount on purchase of my '12 off lease.

I'll find out Monday if it all goes through.

What they should *really* do, if they want to avoid auctioning off-lease cars at huge losses, is offer to finance them at the current payment for as long as it takes, with 5% annual interest. You'd get to actually own the car with no extra money out of pocket, and in 4-8 years Nissan would have their money back, plus a little more.

...not when the residual (or payment) is crazy high. No way.

JeremyW said:

...not when the residual (or payment) is crazy high. No way.

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You're right. Take $4k off the residual and then finance it as I suggested. That's what I was thinking, even though I didn't write it.