apvbguy
Well-known member
bingo! being a savvy consumer should be part of the process when deciding if buying or leasing is the best method of acquiring a vehicleWeatherman said:
End of Lease Strategies?
- Thread starter sonnylax
- Start date
Help Support My Nissan Leaf Forum:
MOD NOTE: Moved some posts to Snippiness.
The big question is - how is that going to affect LEAF sales? With leasing less attractive, sales are very likely going to drop a decent amount...sonnylax said:
I can't afford to pay a lot more for my next lease. Unless I get a windfall and can buy my car (for $4k under the current residual of $18k) I'll be leasing something else - either a Smart or maybe an improved iMiev...
mn4az
Well-known member
Several weeks back I got my email informing me of my end of lease. Talked to NMAC via phone and here's the information they gave me.
Option #1: Extend lease 12 or 24 months with two payments waived - no end date - and is month to month.
Option #2: $4k off residual - offer ends 2/28/15
Additionally for all you '12 folks... I was told that the current offer is $6k off residual - offer ends 2/28/15
The 24 month extension is awfully tempting given that the next gen EVs (Nissan, Chevy, Tesla M3) *should* be available in spring 2017.
Option #1: Extend lease 12 or 24 months with two payments waived - no end date - and is month to month.
Option #2: $4k off residual - offer ends 2/28/15
Additionally for all you '12 folks... I was told that the current offer is $6k off residual - offer ends 2/28/15
The 24 month extension is awfully tempting given that the next gen EVs (Nissan, Chevy, Tesla M3) *should* be available in spring 2017.
LTLFTcomposite
Well-known member
Wow I would have been a buyer at $6k discount... had the B1033 nonsense been cleared up, as the 4th bar loss was imminent.
Has anyone tried getting a lower payment while extending a lease. I mean some people with a big downpayment are extending leases at their super low monthly rate while others with no downpayment are extending at a higher rate. Just checking to see if anyone asked for a lower payment to extend the lease?
You're extending an existing contract, so the contract remains the same. You'd have to renegotiate a new lease and no, that hasn't happened.
pkulak
Well-known member
LeftieBiker said:
Extending a contract that doesn't have an extension built into it _is_ a new contract. Not that I think you'll ever get a better monthly, just not for that reason.
pkulak said:
It's a new contract, but only in that you have changed the end date, leaving the rest untouched. In effect, if not legally, it's the same contract.
apvbguy
Well-known member
AKA "contract extension"LeftieBiker said:
Weatherman
Well-known member
ajshin27 said:
At the moment, it only applies to 2012s.
Lots of 2012s coming off of 3-year leases, right now, with residuals much higher than the wholesale value. NMAC is trying everything they can not to take the cars back.
mn4az
Well-known member
Weatherman said:
This (that it's only 2012s) is not accurate. I have a 2013 and it was the offer I received over the phone. Waiting for the paperwork to arrive.
Weatherman
Well-known member
I figured it would be inevitable NMAC would extend the offer to the 2013s, eventually. 2013s coming off of 2-year leases presents them the same problem as 2012s coming off of 3-year leases. A lot of cars they will be selling for a loss.
ALF
Well-known member
mn4az said:
A letter from NMAC arrived today: "Purchase your current LEAF and receive $6,000 off your lease payoff or you can extend your current LEAF lease by 12 months."
Even $6,000 off the residual price of my 2012 would leave $15,814 which is higher than you can buy a comparable used LEAF.
On the other hand, I will happily extend my lease for another 12 months, particularly since I made a high down payment ($5K) for low monthly payments ($70).
kubel
Well-known member
Have any 2012 owners had any success negotiating the buyout with NMAC (beyond their standard $4000, $5000, and now $6000 offers)?
WhitePatti
New member
- Joined
- Apr 21, 2013
- Messages
- 1
My 2 year lease on 2013 Leaf (SV) is ending soon (April).
Received a letter from NMAC with 3 options
1) Extern lease for another 12 months
2) Purchase the current Leaf (Residual is 21440.00 - yikes)
3) Buy or lease a new Nissan Leaf
Talked to NMAC via phone today - only 1 option in case I want to extend
1) Extend lease 12 months with two payments waived (an ongoing Promotion)
I opted for the extension as have a low monthly payment (102 including tax)
Don't know about month-2-month as mentioned by @mn4az
Received a letter from NMAC with 3 options
1) Extern lease for another 12 months
2) Purchase the current Leaf (Residual is 21440.00 - yikes)
3) Buy or lease a new Nissan Leaf
Talked to NMAC via phone today - only 1 option in case I want to extend
1) Extend lease 12 months with two payments waived (an ongoing Promotion)
I opted for the extension as have a low monthly payment (102 including tax)
Don't know about month-2-month as mentioned by @mn4az
ObjetDart
Well-known member
When I called NMAC last week about extending the lease on my 2013 Leaf I was also only given the single 12 month extension option. None of the various other options that people have mentioned on this forum were offered. No 6-month extension, no month-to-month, no 24-month option that someone else got. They were pretty emphatic about it. Also since my lease isn't up until July they wouldn't even let me do anything yet. I have to call back in April.
I don't know if it depends on who you talk to, when you call, which Leaf you have, or what, but it's pretty frustrating that NMAC seems to be all over the map on this.
I don't know if it depends on who you talk to, when you call, which Leaf you have, or what, but it's pretty frustrating that NMAC seems to be all over the map on this.
TomT
Well-known member
FYI, they will do the same thing with a 2011... And you can take the two free months any time you like (why would you NOT take them at the beginning, however)...
WhitePatti said:
