Buyout my 2015 LEAF or return it?

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jhumroo

Member
Joined
Aug 11, 2014
Messages
19
My 2015 LEAF lease is up in August and I'm trying to decide what the best option is.

Keep my 2015 LEAF with an $2500 off + TTL incentive or get the EZCharge $10000 off a 2017 LEAF.

I would have gone for the new LEAF if the range was anywhere close to the Chevy Bolt. But the marginal increase in range from the 2015 model is not a huge incentive.

I'd like to hear from other 2015 LEAF lease holders and what choices they made.
 
Follow-up question. If I buyout the lease, is there any Federal Tax credits I can benefit from like with the new LEAF?
 
jhumroo said:
Follow-up question. If I buyout the lease, is there any Federal Tax credits I can benefit from like with the new LEAF?

No. The Federal Tax credit is only for new untitled vehicles. When you signed the lease, the title went to NMAC and they took the credit to reduce your money factor.

I'd go with the 2017 leaf, because that 20 mile difference made a HUGE world of difference for me in terms of usability. But that's just my opinion.
 
So, the options are:
- Pay the disposition fee + about $500 wear and tear, and return the vehicle
- Pay $11K + TT&L to keep the 2015 LEAF
- Pay $23K + TT&L for a new LEAF and get the $7500 Federal Tax break

I checked the Blue Book on my 2015 and it's about 9K to sell or 11K + TTL to buy used, which is the same as buying out my lease.

Would be interested in other 2015 lease holders opinions.

Thanks
 
No. The Federal Tax credit is only for new untitled vehicles. When you signed the lease, the title went to NMAC and they took the credit to reduce your money factor.

That's "capitalized cost reduction." The "money factor" is the interest rate.
 
LeftieBiker said:
No. The Federal Tax credit is only for new untitled vehicles. When you signed the lease, the title went to NMAC and they took the credit to reduce your money factor.

That's "capitalized cost reduction." The "money factor" is the interest rate.

Oops. I used the wrong term. You're right. But the net result is that the credit is used up.
 
jhumroo said:
So, the options are:
- Pay the disposition fee + about $500 wear and tear, and return the vehicle
- Pay $11K + TT&L to keep the 2015 LEAF
- Pay $23K + TT&L for a new LEAF and get the $7500 Federal Tax break

I checked the Blue Book on my 2015 and it's about 9K to sell or 11K + TTL to buy used, which is the same as buying out my lease.

Would be interested in other 2015 lease holders opinions.

Thanks

FYI, you have up to 30 days _after_ turning in your leaf to get those fees waved for buying/leasing a new one. That's how I got mine, since I was looking at a used Rav4EV when turning in my 2013, then 30 days later, I changed my mind and got a new 2016 and all those fees for turning in my leaf went away (after calling NMAC since they had already sent out the final bill).
 
Oils4AsphaultOnly said:
jhumroo said:
So, the options are:
- Pay the disposition fee + about $500 wear and tear, and return the vehicle
- Pay $11K + TT&L to keep the 2015 LEAF
- Pay $23K + TT&L for a new LEAF and get the $7500 Federal Tax break

I checked the Blue Book on my 2015 and it's about 9K to sell or 11K + TTL to buy used, which is the same as buying out my lease.

Would be interested in other 2015 lease holders opinions.

Thanks

FYI, you have up to 30 days _after_ turning in your leaf to get those fees waved for buying/leasing a new one. That's how I got mine, since I was looking at a used Rav4EV when turning in my 2013, then 30 days later, I changed my mind and got a new 2016 and all those fees for turning in my leaf went away (after calling NMAC since they had already sent out the final bill).

Thanks. That's good to know.
 
jhumroo said:
So, the options are:
- Pay the disposition fee + about $500 wear and tear, and return the vehicle
- Pay $11K + TT&L to keep the 2015 LEAF
- Pay $23K + TT&L for a new LEAF and get the $7500 Federal Tax break

I checked the Blue Book on my 2015 and it's about 9K to sell or 11K + TTL to buy used, which is the same as buying out my lease.

Would be interested in other 2015 lease holders opinions.

Thanks

Keep in mind that you have to owe at least $7500 in taxes to take the Federal Credit on a new vehicle purchase.

Contact NMAC closer to the end of lease. They may offer a larger discount to purchase the vehicle.

There was another thread here somewhere about a 6 month lease extension, with 3 months free, for those wanting a 2018 LEAF.

You don't have to buy, you could lease another LEAF.
 
Contact NMAC closer to the end of lease. They may offer a larger discount to purchase the vehicle.

NMAC offers a specific residual discount, which changes monthly, and offers it only to the dealers. You now have to negotiate with the dealers directly, instead of NMAC (who never negotiated anyway). So the buyout price changes with the month, and with how much a given dealership is willing to pass on to you, but not by how close it is to the end of the lease. Your best bet is to contact multiple dealerships and have them bid for the buyout. The dealers don't have to be close to you at all, although there have been some issues arising from distance from the salesperson.
 
baustin said:
jhumroo said:
So, the options are:
- Pay the disposition fee + about $500 wear and tear, and return the vehicle
- Pay $11K + TT&L to keep the 2015 LEAF
- Pay $23K + TT&L for a new LEAF and get the $7500 Federal Tax break

I checked the Blue Book on my 2015 and it's about 9K to sell or 11K + TTL to buy used, which is the same as buying out my lease.

Would be interested in other 2015 lease holders opinions.

Thanks

Keep in mind that you have to owe at least $7500 in taxes to take the Federal Credit on a new vehicle purchase.

Contact NMAC closer to the end of lease. They may offer a larger discount to purchase the vehicle.

There was another thread here somewhere about a 6 month lease extension, with 3 months free, for those wanting a 2018 LEAF.

You don't have to buy, you could lease another LEAF.

Yes, I realize the $7500 tax break may not work out if I don't owe that much in taxes.

I got the offer for 6-month extension for waiting to get the 2018 LEAF. I called them about it and found it wasn't really worth it.

Thanks
 
LeftieBiker said:
Contact NMAC closer to the end of lease. They may offer a larger discount to purchase the vehicle.

NMAC offers a specific residual discount, which changes monthly, and offers it only to the dealers. You now have to negotiate with the dealers directly, instead of NMAC (who never negotiated anyway). So the buyout price changes with the month, and with how much a given dealership is willing to pass on to you, but not by how close it is to the end of the lease. Your best bet is to contact multiple dealerships and have them bid for the buyout. The dealers don't have to be close to you at all, although there have been some issues arising from distance from the salesperson.

Thanks. I contacted the dealership where I bought the car, no deal there. Contacted another dealership, they said to bring it in so they can appraise it and let me know if they can offer a better deal.
 
Oils4AsphaultOnly said:
jhumroo said:
Follow-up question. If I buyout the lease, is there any Federal Tax credits I can benefit from like with the new LEAF?

No. The Federal Tax credit is only for new untitled vehicles. When you signed the lease, the title went to NMAC and they took the credit to reduce your money factor.

I'd go with the 2017 leaf, because that 20 mile difference made a HUGE world of difference for me in terms of usability. But that's just my opinion.

I concur on this. I went from a 2013 Leaf to a 2016 Leaf..the 25% bump in range made a HUGE difference in the usability of the car.
 
I paid $8300 for my excellent condition car, so I imagine the reseller paid around $6300. That is about the wholesale value of your car and it suggests that the buy-out cost of the lease is a bad deal. It also means that your notion of receiving $11k for the car is unlikely.

Personaly, I would return the car and either buy or lease a new one. Or buy a used one for ~ $8000
 
jhumroo said:
So, the options are:
...
- Pay $11K + TT&L to keep the 2015 LEAF
...
I checked the Blue Book on my 2015 and it's about 9K to sell or 11K + TTL to buy used, which is the same as buying out my lease.
Did you state what trim level and packages you have, if any? Those numbers are almost meaningless w/o context.
SageBrush said:
Personaly, I would return the car and either buy or lease a new one. Or buy a used one for ~ $8000
I don't currently see any used '15s in the SF Bay Area for that cheap: https://sfbay.craigslist.org/search/cta?sort=priceasc&auto_make_model=nissan%20leaf&max_auto_year=2015&min_auto_year=2015.
 
cwerdna said:
jhumroo said:
So, the options are:
...
- Pay $11K + TT&L to keep the 2015 LEAF
...
I checked the Blue Book on my 2015 and it's about 9K to sell or 11K + TTL to buy used, which is the same as buying out my lease.
Did you state what trim level and packages you have, if any? Those numbers are almost meaningless w/o context.
SageBrush said:
Personaly, I would return the car and either buy or lease a new one. Or buy a used one for ~ $8000
I don't currently see any used '15s in the SF Bay Area for that cheap: https://sfbay.craigslist.org/search/cta?sort=priceasc&auto_make_model=nissan%20leaf&max_auto_year=2015&min_auto_year=2015.

I have the base level LEAF S model.
 
SageBrush said:
I paid $8300 for my excellent condition car, so I imagine the reseller paid around $6300. That is about the wholesale value of your car and it suggests that the buy-out cost of the lease is a bad deal. It also means that your notion of receiving $11k for the car is unlikely.

Personaly, I would return the car and either buy or lease a new one. Or buy a used one for ~ $8000

@SageBrush Did you purchase a used 2015 for $8300. What was the mileage on it? Mine has just over 17K on it now. And you are correct, I can't justify paying $12K (including TTL) to buyout my lease.

The quote I got for a new 2017 LEAF S was $25K (including TTL).
 
jhumroo said:
SageBrush said:
I paid $8300 for my excellent condition car, so I imagine the reseller paid around $6300. That is about the wholesale value of your car and it suggests that the buy-out cost of the lease is a bad deal. It also means that your notion of receiving $11k for the car is unlikely.

Personaly, I would return the car and either buy or lease a new one. Or buy a used one for ~ $8000

@SageBrush Did you purchase a used 2015 for $8300. What was the mileage on it? Mine has just over 17K on it now. And you are correct, I can't justify paying $12K (including TTL) to buyout my lease.

The quote I got for a new 2017 LEAF S was $25K (including TTL).
See my Sig
 
SageBrush said:
jhumroo said:
SageBrush said:
I paid $8300 for my excellent condition car, so I imagine the reseller paid around $6300. That is about the wholesale value of your car and it suggests that the buy-out cost of the lease is a bad deal. It also means that your notion of receiving $11k for the car is unlikely.

Personaly, I would return the car and either buy or lease a new one. Or buy a used one for ~ $8000

@SageBrush Did you purchase a used 2015 for $8300. What was the mileage on it? Mine has just over 17K on it now. And you are correct, I can't justify paying $12K (including TTL) to buyout my lease.

The quote I got for a new 2017 LEAF S was $25K (including TTL).
See my Sig

Sorry, didn't see your signature. So you got a 2013 for $8300.

I was just offered a buyout price of 11.5K from another dealer. Still undecided if it's a good deal, because they also offered to buy it for 9.5K if I decided to get a new Nissan.
 
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