MrIanB
Well-known member
Already had inspection last month, will be returning June 10th and setting inspection at dealer to have Nissan inspect car again and give keys at same time. That way, there won't be any surprise charges.
Ian B
Ian B
End of Lease Strategies?
- Thread starter sonnylax
- Start date
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marcin
Member
Confirmed today, the new buyout credit is now $6500. I have a 2013 S with QC and residual is $15. I will check with Carmax on the buy price. Maybe I could make money on this deal as a trade in is at $14k per Edmunds.
morlglums
Active member
Anybody else confirm $6500? I got a postcard for $5000 OR 1 year lease extension with 2 payment credits. I went with the latter, but at -$6500 I would buyout...
-m
-m
marcin
Member
Call in. $5k was last month.
cwerdna
Well-known member
Good luck w/fetching $14K. Resale value is Leafs is absolutely awful. :/ See http://www.mynissanleaf.com/viewtopic.php?f=23&t=19870" onclick="window.open(this.href);return false;. Try looking for used ones at dealers in your area on say Autotrader. You won't be able to fetch what dealers are asking.marcin said:
TimLee
Well-known member
$14K is high.marcin said:
See 2013 early April auction and retail prices @ http://www.mynissanleaf.com/viewtopic.php?f=23&t=19362&hilit=auction&start=30#p419454" onclick="window.open(this.href);return false;.
marcin
Member
Carmax offered me $9k even. Basically what the payoff with fees would cost me. I will just extend one more year.
TimLee
Well-known member
So $8,500 price from Nissan is better than they have been doing till now.marcin said:
Of course if you want to extend and then move up to 30 kWh 2016 SV or SL, that is another factor.
marcin
Member
My current lease 24 months with 15k/y at $240 with zero down. I doubt I will get anything that low in the coming years on a new EV. The range is the only issue for me as in winter I'm running short by 20 miles daily. Must limit heat or rather have it off. I'm sold on EV, just need a true 100mi range with accessories on 
We have a 2012 we bought very early on, and are paying more than $400/month - lease end in August. What really surprises me is that Nissan won't reduce the lease payment if we want to extend the lease for a year. Why not give us a lease extension at a price similar to what everyone else is currently leasing at, and keep us in the car? After all, we've already been paying through the teeth for 36 months!
Mark
Mark
kubel
Well-known member
ej1155 said:
Translation: There may be a better deal to come in July.
I think the discount is based on projected inventory, and not necessarily on giving leasees a fair buyout price. Hence why we are seeing such low discounts for 2011 (it's a lower volume car, even though it's arguably the worst model year for depreciation).
cwerdna
Well-known member
Yeah, I have until end of about the end of June now to decide on whether I'd extend w/the above deal or to buy with $5000 buyout discount. My 2-year lease ends near the end of July 2015.DaveK said:
I'm thinking maybe I should test drive the Fiat 500e more than my brief test drive and try out the stereo, to see if it's acceptable, then wait to see if any good deals pop up.
I think the Spark EV is ruled out, even if the lease is cheap since people on mychevysparkev.com say the stereo is awful. If it's that's awful, it's probably awful compared to the Bose stereo I'm enjoying in my Leaf (and I am NO fan of Bose).
Or... maybe I should turn the car in and buy a cheap used Leaf instead. Otherwise, I need to pay ~$3140 to lease for another 12 months and still won't have the car at the end.
evnow
Well-known member
Whether to extend on not would depend on how much you are paying. $260 a month - I'd think hard too.cwerdna said:
Can you buy a Leaf now for 10K and sell it for > 7k after a year ? How about the taxes ?
cwerdna
Well-known member
The other thing that makes things tougher to decide are I will most likely need new tires if I extend my lease. That means buying new tires for a car I won't have at the end of 3 years.evnow said:
Yeah, it might be tough to do the latter. However, the scenario's a bit different if I can buy an acceptable (to me) used Leaf for ~$10K and keep for more than a year. I wonder if I'd come out ahead if I kept it for say 2 years and then sold it.
I have a turn in for November--and have the same pay option from them: $5,000 off or miss 2 payments and go month-to-month.
Here is my question: what would happen if SOMETHING went wrong after warranty expires--can you just say turning it in the following month? And not really have to worry about it? If so, I might just do it. My payment is only $159. Would now just have to pay for the registration and battery check--and thus would probably keep it an additional 6 months but not sure about the entire year. And use the free 2 months no payment to cover this.
I have been happy with this car.
Here is my question: what would happen if SOMETHING went wrong after warranty expires--can you just say turning it in the following month? And not really have to worry about it? If so, I might just do it. My payment is only $159. Would now just have to pay for the registration and battery check--and thus would probably keep it an additional 6 months but not sure about the entire year. And use the free 2 months no payment to cover this.
I have been happy with this car.
I'm very close to taking the $6,500 lease buyout offer, but wanted to remind people here of another potentially nasty detail: The bogus "documentation fee" many dealers charge. I saw a comment from someone in another thread on this board saying that his/her dealer charged $800 for this, which is, as best I can tell, nothing but pure profit. Essentially it's a fee they charge for filling out the DMV forms to transfer ownership of the car to you.
Some states limit the fee a dealer can charge. NY State, where I live, limits it to $75 plus the actual DMV fees. Too bad they don't also limit disposition fees.
I found that trying to get the actual cost in addition to the price and sales tax to buy the car from a dealer can be a pain. My dealer won't return my e-mail or phone messages asking for the number. I plan to stop by in person Monday and insist on an answer. I expect this to be a frustrating experience, because when I spoke to them recently about the buyout (before I knew about the doc fee idiocy or NYS's limit) they insisted that there was no $6,500 or $5,000 offer, and that it was $3,500. I had to explain to them that I had literally just spoken to someone at NMAC who told me my offer was $6,500, and that the $3,500 was for new car purchases. And this was at a large volume dealership. :shock:
Anyway, just an FYI for people in a similar situation.
Some states limit the fee a dealer can charge. NY State, where I live, limits it to $75 plus the actual DMV fees. Too bad they don't also limit disposition fees.
I found that trying to get the actual cost in addition to the price and sales tax to buy the car from a dealer can be a pain. My dealer won't return my e-mail or phone messages asking for the number. I plan to stop by in person Monday and insist on an answer. I expect this to be a frustrating experience, because when I spoke to them recently about the buyout (before I knew about the doc fee idiocy or NYS's limit) they insisted that there was no $6,500 or $5,000 offer, and that it was $3,500. I had to explain to them that I had literally just spoken to someone at NMAC who told me my offer was $6,500, and that the $3,500 was for new car purchases. And this was at a large volume dealership. :shock:
Anyway, just an FYI for people in a similar situation.
morlglums
Active member
Do you know if you have to go through the dealer you leased the car from or can you go to another dealership? There are several in my area. The lease itself is through NMAC so it seems like you should be able to do it without a dealership at all.
