End of Lease Strategies?

[LeftieBiker]

I'm fairly sure that all of the extensions are month to month, as they want you to be able to decide to buy or lease another Nissan when you see a sales promotion you like. I hope that I get the 2 months waived offer!

 

[Turnover]

It looks like the local dealer supplies of new Leafs is winding down. I have been seeing a lot more on the road. Is this just me or this area?

 

[sonnylax]

My 2 year lease is up in April, 2015 and I just received another letter from NMAC yesterday.

No mention of waiving 2 months of payment, if I extend the lease for 12 months however. No mention of $4k, $5k, $6k off residual if I buy the car outright.

Only 2 options listed in the letter:
Buy Your Current Leaf
--OR--
Extend your Nissan Leaf lease an additional 12 months

For those getting the 2 payment waiver offer, is that in writing from NMAC?? Would it apply to any payments, meaning within your 24 (or 36) month initial term? Or would it apply to the extension period (i.e. "additional" 12 months)?

 

[pkulak]

I'm fairly sure that all of the extensions are month to month, as they want you to be able to decide to buy or lease another Nissan when you see a sales promotion you like. I hope that I get the 2 months waived offer!

2 months waived on a month-to-month would be a pretty stupid offer!

 

[LeftieBiker]

I'm fairly sure that all of the extensions are month to month, as they want you to be able to decide to buy or lease another Nissan when you see a sales promotion you like. I hope that I get the 2 months waived offer!

2 months waived on a month-to-month would be a pretty stupid offer!

Not if it's the last two months of a year extension.

 

[pkulak]

A year extension is not month-to-month.

 

[martyv]

A year extension is not month-to-month.

I think you're wrong on this

The NMAC people told me on the phone, and I got it in writing because I wanted to be sure it was true, that lease extensions do function like a month to month - you can return the car any time - so very little risk to sign one, even if you are likely to return the vehicle sooner than the length of the extension.

I received the two months free, even though I had not asked for it or even heard about it, it was just on my paperwork for the extension. I suspect that it is indeed the last two months that will be free, otherwise everyone who had a lease would extend for a year and then return it after getting two free months!

 

[ALF]

A year extension is not month-to-month.

I think you're wrong on this

The NMAC people told me on the phone, and I got it in writing because I wanted to be sure it was true, that lease extensions do function like a month to month - you can return the car any time - so very little risk to sign one, even if you are likely to return the vehicle sooner than the length of the extension.

I received the two months free, even though I had not asked for it or even heard about it, it was just on my paperwork for the extension. I suspect that it is indeed the last two months that will be free, otherwise everyone who had a lease would extend for a year and then return it after getting two free months!

Yes, the NMAC guy that I spoke to this morning expressly told me that it was a month-to-month contract, and he too gave me the two months free, unbidden.

 

[LTLFTcomposite]

Sounds like they are in full-on "we'll do anything, please just don't turn in your Leaf" mode.

 

[DNAinaGoodWay]

On an extended lease, do you get extra milage, like another 1000 miles every month, or are you still limited to your original amount, 24 or 36k or whatever? Some people never come close to their limit, but if you go over, are they dinging folks for overage charges?

 

[Elephanthead]

The only way I would keep my 12 is if they offer the $6,000 off. I bought mine really late though so it is not due back until Feb 2016. Here is hoping for 10k off. The $6,000 off is like a zero percent interest plus a $5,000 rebate.

 

[Nimrod]

Any Georgians with their lease ending?

Mine is ending this May. I have asked people, and I tried to read the EV Tax credit law, and it doesn't say anything about limits on a person claiming the tax credit again if they get another lease.

So technically, in GA, wouldn't it be better to just sign up for another 24-month lease with a new 2015 Leaf if you can get the $5k tax credit again instead of any of the other options?

 

[kubel]

My lease is up in August. How long can I put off scheduling the inspection?

Sounds like they are in full-on "we'll do anything, please just don't turn in your Leaf" mode.

Crushing them was their first choice, but their PR department said that was a no go. I expect they will continue to follow this trend ($4,000 off, $5,000 off, $6,000 off, etc...) until all 2011-2012 LEAFs are eliminated. It's unfortunate, though, that they are not communicating the buyout discount to NMAC account representatives. When I called, they said the $5,000 offer ended in January, when my letter says otherwise.

 

[sonnylax]

A year extension is not month-to-month.

I agree. I haven't read the paperwork closely yet, but why wouldn't they put that in writing (if true).

 

[sonnylax]

Any Georgians with their lease ending?

Mine is ending this May. I have asked people, and I tried to read the EV Tax credit law, and it doesn't say anything about limits on a person claiming the tax credit again if they get another lease.

So technically, in GA, wouldn't it be better to just sign up for another 24-month lease with a new 2015 Leaf if you can get the $5k tax credit again instead of any of the other options?

My Georgia lease ends at the end of April. I'm trying to gather information to make an educated decision moving forward in this thread here:
http://www.mynissanleaf.com/viewtopic.php?f=23&t=18872

The GA ZEV Tax Credit hasn't changed (yet). We should learn more by the end of March, on if it's modified or eliminated moving forward.

 

[ajshin27]

A year extension is not month-to-month.

I think you're wrong on this

The NMAC people told me on the phone, and I got it in writing because I wanted to be sure it was true, that lease extensions do function like a month to month - you can return the car any time - so very little risk to sign one, even if you are likely to return the vehicle sooner than the length of the extension.

I received the two months free, even though I had not asked for it or even heard about it, it was just on my paperwork for the extension. I suspect that it is indeed the last two months that will be free, otherwise everyone who had a lease would extend for a year and then return it after getting two free months!

Yes, the NMAC guy that I spoke to this morning expressly told me that it was a month-to-month contract, and he too gave me the two months free, unbidden.

I received a different reply from a rep today. He said the current offer is to waive 2 months worth of lease payments for a one year extension. I explicitly asked him if the extension needed to be one year or if I could return the car sooner, and he confirmed that it must be one year to receive the free 2 month offer. He is sending me the paperwork, so I'll know for sure when I receive it.

 

[LeftieBiker]

OK, so my 2013 Leaf has a 2 year lease that's up May 31. Can I contact NMAC and get a one year extension, with two months free, now, or not...?

 

[overfedexed]

Any Georgians with their lease ending?

Mine is ending this May. I have asked people, and I tried to read the EV Tax credit law, and it doesn't say anything about limits on a person claiming the tax credit again if they get another lease.

So technically, in GA, wouldn't it be better to just sign up for another 24-month lease with a new 2015 Leaf if you can get the $5k tax credit again instead of any of the other options?

Before the next bills pass, yes on doing two. I have a friend here that did two separate Leaf leases successfully. Also, I emailed James Udi, the man at the Georgia EPD that approves the ZEV forms and he said yes.

That will change soon. Read here; http://insideevs.com/lawmakers-lo...s-pending/" onclick="window.open(this.href);return false;

The "Plug-in" bill, HB 220, gives up to $3000 max, ONCE every three years. If that's the one that they pass that is.

My 2013 lease is up on Christmas Eve, this year.
I'm waiting on a 2016/17 myself, maybe a Chevy Bolt if not the Leaf. I hate to lose out on another $5000, actually $4000 after we had to pay Federal taxes on it this year. I'm pretty sure that the battery technology will be a lot better in a couple of years. Right now, especially in the Winter, I barely make it on my 40 mile commute. I know that sounds crazy, but this car is so fun to drive that I'm very aggressive with it.

 

[Nimrod]

Any Georgians with their lease ending?

Mine is ending this May. I have asked people, and I tried to read the EV Tax credit law, and it doesn't say anything about limits on a person claiming the tax credit again if they get another lease.

So technically, in GA, wouldn't it be better to just sign up for another 24-month lease with a new 2015 Leaf if you can get the $5k tax credit again instead of any of the other options?

Before the next bills pass, yes on doing two. I have a friend here that did two separate Leaf leases successfully. Also, I emailed James Udi, the man at the Georgia EPD that approves the ZEV forms and he said yes.

That will change soon. Read here; http://insideevs.com/lawmakers-lo...s-pending/" onclick="window.open(this.href);return false;

The "Plug-in" bill, HB 220, gives up to $3000 max, ONCE every three years. If that's the one that they pass that is.

My 2013 lease is up on Christmas Eve, this year.
I'm waiting on a 2016/17 myself, maybe a Chevy Bolt if not the Leaf. I hate to lose out on another $5000, actually $4000 after we had to pay Federal taxes on it this year. I'm pretty sure that the battery technology will be a lot better in a couple of years. Right now, especially in the Winter, I barely make it on my 40 mile commute. I know that sounds crazy, but this car is so fun to drive that I'm very aggressive with it.

Awesome, thanks!

I means it's a total no-brainer for me. If I can get another $250/month lease, that's $6k in 2 years. After the tax credit, I would have paid ~$1k to use a car that I don't have to gas up. It's a great second car!

 

[tractioninc]

I received a different reply from a rep today. He said the current offer is to waive 2 months worth of lease payments for a one year extension. I explicitly asked him if the extension needed to be one year or if I could return the car sooner, and he confirmed that it must be one year to receive the free 2 month offer. He is sending me the paperwork, so I'll know for sure when I receive it.

Excellent news. I'm passing this on to my parents, who are interested in extending their lease.