By cancel do you mean you are buying the car? If that's the case then I wouldn't think the mileage would matter. You just pay your pay off amount which you can get quoted on the Nissan Finance website.Gonewild said:
2011, 2012 Nissan Leaf Leasing Information
- Thread starter evnow
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davewill
Well-known member
You can't "cancel" the lease in normal circumstances. You would, instead, sell the car, using the proceeds to buy out the lease. A buyout doesn't take the miles into account, since the lessor isn't taking possession of the car.Gonewild said:
Gonewild
Well-known member
I called and I am able to cancel the lease with a $429 payment due Aug 26 2012.
I was told to day the miles do not matter and I have inspection this Wednsday.
No not buying the car but giveing it back to them
I was told to day the miles do not matter and I have inspection this Wednsday.
No not buying the car but giveing it back to them
DaveinOlyWA
Well-known member
Gonewild said:
sorry to hear that. what r u replacing your LEAF with?
Gonewild
Well-known member
I am going to drive my other car Ford Focus and wait until 2014 to see if this gets wash away and new product come out or the electric car dies one more time. :evil:
DaveinOlyWA
Well-known member
Gonewild said:
great you have a fallback. with solar and an extra car it is a tough call to justify the monthly payments if you cannot get good use of the LEAF. it would be a tough call for me.
is your getting out of the lease a special case due to your range loss or is this just some not well known loophole of leases in general?
Gonewild
Well-known member
No loop hole just the value of the car is so high still they think they can sell the car so the price to walk away is low.
They do not know of the problem yet.. :lol: :lol:
They do not know of the problem yet.. :lol: :lol:
DaveinOlyWA
Well-known member
Gonewild said:
oh i kinda doubt that and the car still has value in lots of places like my area. problem is we need a little more pain to sell them. gas prices are too low and the government is squandering a chance to collect some revenue to put back into the infrastructure of this country and that is simply pathetic.
unfortunately i know someone who justified a $34,000 purchase on an Escape (after perks, tax waivers, etc. it will cost them more than $10,000 extra over the LEAF they were seriously considering) after deciding at the last second to not buy EV.
they said they wanted it for the extra space (space they NEVER use btw) and there is little doubt that they went with the Escape based on our current $3.30 gas prices. (they were thinking about the LEAF, gas was $4.18...) and no, they will not have range issues since the commute is about 30 miles RT (in fact, one of the "justifications" for getting the Escape was the "small" amount they would be paying for gas anyway...
) and they are 2 car household that together all the time except when working. they have a child almost a year old so the LEAF had plenty of room for them... i really feel sorry for them. its a big bubble breaking
TonyWilliams
Well-known member
Gonewild said:
Please provide more info for others!! Who did you contact, and who approved this? The dealer or Nissan Financial? Is this a special program? How did the $429 get calculated, and what is it for?
Thanks !!!!!
DaveinOlyWA
Well-known member
TonyWilliams said:
sounds like the existing payment due. iow, your payments cover Aug 1 to Aug 31. u cancel today you get no refund back. so you pay your current due balance and cancel at the end of payment period.
at least that is my guess. when i was investigating converting lease to purchase, it was always "pay X by this date"
Gonewild
Well-known member
TonyWilliams said:
Just call the phone # on the lease bill. Customer line.
Just ask what it would cost to cancel my lease. She check and then said hang on that looks to low and came back to the phone and said it was $429 due 8-26-2012. I called again to day and asked what it would cost if I extended it 1 extra month and a new lady said it could go up if the price drops which I know is droping like a ROCK.
DaveinOlyWA
Well-known member
Gonewild said:
so the $429 is based on a value? what are your monthly payments?
xtremeflyer
Well-known member
I've done this with an Infiniti. If you look at your lease online, there is a payoff quote button. If your car has held it's value (which as of today, based on some of the auction data, it still has) then you can hand it over and walk away.
As an example, my payoff is almost $22k. If you call them up, they'll look up the current value (I don't know what they use to decide this). If the value is more than $22k, then they'll take it with no cost. It sounds like Gonewild is in this situation, he just has to be current on his payments, they can also charge for above wear and tear, hence why he still has an inspection scheduled. It's actually really straightforward.
If the value is less than $22k, you can pay the difference (plus tax). So if they decide its value is $20k, you would pay $2k + tax to turn it in, plus any wear and tear.
In California, it is the law that they are required to accept an appraisal as the value of the car. When I called for the Infiniti, my payoff was $29k. Inifiniti said it was only worth $26k and so I hired a license appraiser for $200 and told him I needed a wholesale appraisal. He came back at $28,500 and I turned in the vehicle with the appraisal and $500 + sales tax. So I saved $2k by hiring the appraiser. This is another option for those in California if Nissan says their payoff is higher than the value.
As an example, my payoff is almost $22k. If you call them up, they'll look up the current value (I don't know what they use to decide this). If the value is more than $22k, then they'll take it with no cost. It sounds like Gonewild is in this situation, he just has to be current on his payments, they can also charge for above wear and tear, hence why he still has an inspection scheduled. It's actually really straightforward.
If the value is less than $22k, you can pay the difference (plus tax). So if they decide its value is $20k, you would pay $2k + tax to turn it in, plus any wear and tear.
In California, it is the law that they are required to accept an appraisal as the value of the car. When I called for the Infiniti, my payoff was $29k. Inifiniti said it was only worth $26k and so I hired a license appraiser for $200 and told him I needed a wholesale appraisal. He came back at $28,500 and I turned in the vehicle with the appraisal and $500 + sales tax. So I saved $2k by hiring the appraiser. This is another option for those in California if Nissan says their payoff is higher than the value.
Gonewild
Well-known member
My payment is $414 with tax included. So I drive it for most of August and instead of a payment due on the 28th I make a payment on 26th and walk.
with the peace of mind knowing I saved 18 month of a worthless car in the end.
Dont get me wrong I love my car in everyway. It was the battery and Nissan that let me down.
:evil:
with the peace of mind knowing I saved 18 month of a worthless car in the end.
Dont get me wrong I love my car in everyway. It was the battery and Nissan that let me down.
:evil:
jkirkebo
Well-known member
Gonewild said:
You could put in a reservation for a Tesla Model S in the mean time. You'll not get delivery before around this time next year anyway, and if you decide against getting it the whole amount is refundable anyway.
The Model S has active cooling of the battery and the battery should (at least in theory) last as long in Phoenix as in Alaska.
Gonewild
Well-known member
PRICE is to high for me
LTLFTcomposite
Well-known member
"Walk" being the operative word there... what will you do next?Gonewild said:
jkirkebo
Well-known member
Gonewild said:
Ok, that's fair. It does cost a lot more than the Leaf, at $49,900 after tax rebate for the entry model. No leasing offered yet either.
surfingslovak
Well-known member
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I've been waiting for that, and better availability after they ramp their manufacturing.jkirkebo said:
LTLFTcomposite
Well-known member
Gonewild said:
I'm still curious about how this works with "cancelling" the lease, something I assumed was out of the question unless you didn't mind paying through the nose. So I called NMAC and asked about whether that is an option, and the nice lady told me not until the 12 month mark. She said you always have the option of going to a dealer and having them buy out the car, but that sounds like it would be an ugly experience.
So maybe the 18-month mark is a point where the "upside-downedness" isn't too great. You've made about $7400 in payments at that point, which might be about what it has depreciated once you factor out some interest.
When you say "worthless car in the end" do you mean a car that is worthless, or a car in which you have no equity?
