$1000 Loyalty Program for current Leaf owners

[evnow]

My pay off price for the '11 lease is 18,500. The wholesale price is 15,000 or so. That means if I try to buy a '13 after returning the '11, I'm looking at a $3,500 in red ink. So, $1k isn't a good enough inducement for me to switch.

 

[Jay]

This would be a good promotion to get out to the public...but I don't want to run with the story until at least someone has made the transaction, (=

 

[evnow]

This would be a good promotion to get out to the public...but I don't want to run with the story until at least someone has made the transaction, (=

Join "Seattle Nissan LEAF Owners" on FB. Ray of Magic Nissan has posted details of the deal. He sold a couple of Leafs to current Leaf owners - not sure they got the loyalty program, though.

 

[TomT]

+1!

My pay off price for the '11 lease is 18,500. The wholesale price is 15,000 or so. That means if I try to buy a '13 after returning the '11, I'm looking at a $3,500 in red ink. So, $1k isn't a good enough inducement for me to switch.

 

[DaveinOlyWA]

My pay off price for the '11 lease is 18,500. The wholesale price is 15,000 or so. That means if I try to buy a '13 after returning the '11, I'm looking at a $3,500 in red ink. So, $1k isn't a good enough inducement for me to switch.

What? How could it be that high after nearly 2years?
What are your payments? What is the total of all payments for the entire term? That alone should be less than $18k

 

[evnow]

What? How could it be that high after nearly 2years?
What are your payments? What is the total of all payments for the entire term? That alone should be less than $18k

The residual is about $15k after 3 years. So why do you think $18.5k is high ?

My down payment was $2k, I'm paying $350 a month.

 

[DaveinOlyWA]

Ohhh never mind. Brain fart. U mean buying out lease and trading it in.

So i take it there is no way to trade in a lease early unless u buy it out?

 

[evnow]

So i take it there is no way to trade in a lease early unless u buy it out?

Well, you could also give back the car and pay the remaining lease payments - that will work out to $4.2k in my case.

 

[LTLFTcomposite]

that will work out to $4.2k in my case.

That must mean you have 12 months remaining. Just for laughs let's say you wanted to move into a 2013 S model for $2k down and $199 a month. If you are $3500 upside down, and they gave you $1000 credit off that, that brings it down to $2500, but for the next 12 months you'd be saving $150 a month, or $1800. Now you're down to $700. Unfortunately you'd still be looking at that pesky $2k down on the new lease. Although won't you have that anyway if you lease another one in a year?

I need to crunch the numbers for my situation; I have closer to two years remaining.

 

[DaveinOlyWA]

i would wait. no way I could see getting one now unless you just want 2 EVs for a year. plus 2014 promises continuous improvement.

 

[evnow]

Unfortunately you'd still be looking at that pesky $2k down on the new lease. Although won't you have that anyway if you lease another one in a year?

Best way to compare is to use the zero down lease payment.

So, If I get SV+2 packages, VPP price - $1k loyalty, here is what we are looking at for zero down, 24/15k.

MSRP : 35,350
Selling : 30,135
Lease : $205

This is $150 less a month i.e. a saving of $1,800. Till, I'd be down $1,700 if I trade in my '11. Still doesn't include registration etc.

Anyone still arguing for Buy vs Lease, should sit down and do these calculations, now that we know the going rate :lol:

 

[LTLFTcomposite]

Not sure I follow those figures completely... looks like you applied the $1k loyalty to the new lease to arrive at the $205/month figure... and for a model that would be a step up with the 6.6 charging, right? So if you take the $1800 saved over the next year off the $3500 of upside-downedness, doesn't that mean it would cost you $1700 to make the switch? Also if it meant getting out of the old one before the tires wear below 1/8th maybe save another $500.

As you said, there are other costs, and this would probably end badly once entering discussions with the dealer, but surprising to consider the possibility it could be that cheap. I assumed it would be at least five grand to get out of this car.

 

[Jay]

Figured I'd get the word/publicity out now about this loyalty program, just in case there is people out there that don't know:

http://insideevs.com/trade-in-your-nissan-leaf-on-a-2013-get-1000-off/" onclick="window.open(this.href);return false;

...with a link back to the forum/thread of course, (=

 

[EricBayArea]

For those that own their Leaf, don't we need to keep it for 3 years in order not to lose the federal $7,500 credit? I haven't gone through taxes again this year but my guess is they'll ask if I still own it... no? I'm not certain about the California one but I thought I read the former regarding the federal credit.

 

[DaveinOlyWA]

For those that own their Leaf, don't we need to keep it for 3 years in order not to lose the federal $7,500 credit? I haven't gone through taxes again this year but my guess is they'll ask if I still own it... no? I'm not certain about the California one but I thought I read the former regarding the federal credit.

the ONLY requirement to keep the $7500 is putting the vehicle into service. time limit? i guess at least one full day

 

[thankyouOB]

For those that own their Leaf, don't we need to keep it for 3 years in order not to lose the federal $7,500 credit? I haven't gone through taxes again this year but my guess is they'll ask if I still own it... no? I'm not certain about the California one but I thought I read the former regarding the federal credit.

you lose pro rata on CA rebate. the federal one is a trickier issue and not cut and dry.

 

[DaveinOlyWA]

For those that own their Leaf, don't we need to keep it for 3 years in order not to lose the federal $7,500 credit? I haven't gone through taxes again this year but my guess is they'll ask if I still own it... no? I'm not certain about the California one but I thought I read the former regarding the federal credit.

you lose pro rata on CA rebate. the federal one is a trickier issue and not cut and dry.

and why not? seems to me it would be the exact opposite. there is NO OTHER requirement for the fed credit other than to buy one and put it in service. there is no minimum time to own the vehicle, no minimum mileage to drive, nothing.

cant make it any "drier" than that. the CA rebate with its many terms seems much wetter

 

[LTLFTcomposite]

Do you have to sell/trade in/lease terminate your current Leaf to get the $1000 credit, or can you use the credit on an acquisition of an additional Nissan vehicle, Leaf or otherwise?

 

[DaveinOlyWA]

Do you have to sell/trade in/lease terminate your current Leaf to get the $1000 credit, or can you use the credit on an acquisition of an additional Nissan vehicle, Leaf or otherwise?

no and no

applies to LEAF only.

 

[evnow]

So if you take the $1800 saved over the next year off the $3500 of upside-downedness, doesn't that mean it would cost you $1700 to make the switch?

That's right - I had a $4k deficit in mind ($14.5k trade in vs $15k.). I'll update the post.