New lease early termination program.

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adric22

Well-known member
Joined
Apr 23, 2010
Messages
2,488
Location
Fort Worth, TX
I had been in contact with my local Nissan dealer a few weeks ago saying I might be in the market for another Leaf in a few months when my lease is up. He said periodically Nissan will roll out a program for giving early termination on a lease and he'd call me when they do. Well, I got the call today. He said they will waive up to 3 months of a lease contract. I think I have 5 months left, though. So I might still have to roll two months into a new deal. He got my VIN and said he'd call me back later when he finds out the specifics. So I might be upgrading my Leaf sooner, rather than later.
 
Assuming your delivery date in your avatar is correct, and assuming you already paid February's lease payment, you should only have 1 payment left (March 2014).
 
RonDawg said:
Assuming your delivery date in your avatar is correct, and assuming you already paid February's lease payment, you should only have 1 payment left (March 2014).

Our last payment is June 2014. it was a 39-month lease. So we have 5 more payments.
 
Well, we took the bite. I just got a new 2014 Leaf. Exact same color as my current Leaf too. But it won't be here until tomorrow morning because I didn't like any of the selection on the lot. We're getting a lot of new features including the DC fast charge port and dropping our payment by nearly $50 over the old car. I love that heated steering wheel! Wow! I drove a similar car this evening and it was quite cold outside. The steering wheel felt wonderful on my cold hands!
 
adric22 said:
Well, we took the bite. I just got a new 2014 Leaf. Exact same color as my current Leaf too. But it won't be here until tomorrow morning because I didn't like any of the selection on the lot. We're getting a lot of new features including the DC fast charge port and dropping our payment by nearly $50 over the old car. I love that heated steering wheel! Wow! I drove a similar car this evening and it was quite cold outside. The steering wheel felt wonderful on my cold hands!
Congrats! Color me jealous!
 
Remember to turn the wheel heater off as soon as it's hot. If you let it cycle off, then it will be quite a while before it will come back on, and it may burn your hands if you don't wear gloves. Mine partially melted the palm grips on my $200 gloves.
 
LeftieBiker said:
Remember to turn the wheel heater off as soon as it's hot. If you let it cycle off, then it will be quite a while before it will come back on, and it may burn your hands if you don't wear gloves. Mine partially melted the palm grips on my $200 gloves.

We had it on for at least 15 minutes. It never got that hot. It just stayed warm. Maybe yours is malfunctioning?
 
Congrats on the car! My steering wheel heater gets pretty warm but not to the point of melting anything and it really does make a difference in comfort levels
 
adric22 said:
LeftieBiker said:
Remember to turn the wheel heater off as soon as it's hot. If you let it cycle off, then it will be quite a while before it will come back on, and it may burn your hands if you don't wear gloves. Mine partially melted the palm grips on my $200 gloves.

We had it on for at least 15 minutes. It never got that hot. It just stayed warm. Maybe yours is malfunctioning?

Yeah while I'm not crazy about the "Jekyll and Hyde" personality of the steering wheel heater, it's never gotten so hot on me that it caused even first degree burns, much less causing gloves to melt.
 
adric22 said:
Well, we took the bite. I just got a new 2014 Leaf. Exact same color as my current Leaf too. But it won't be here until tomorrow morning because I didn't like any of the selection on the lot. We're getting a lot of new features including the DC fast charge port and dropping our payment by nearly $50 over the old car. I love that heated steering wheel! Wow! I drove a similar car this evening and it was quite cold outside. The steering wheel felt wonderful on my cold hands!
Enjoy that new car.

Is your new lease a 2 year or 3 year term ?
 
KJD said:
Is your new lease a 2 year or 3 year term ?
3 year. The monthly payment was much better that way. I suspect part of it was because they were rolling in two of our lease payments. Nissan waived 3, but we have 5 payments left on our original 39-month lease. We got 15,000 miles per year this time too..
 
Are you guys saying the steering wheel heater, even in the 2014 is STILL cycling on and off? My 2012 drives me up the wall with that. When it's at its hottest I like it, but then it cools right down, then goes on again. This is really terrible behavior for a heating system and I won't forgive it.

--

As far as lease termination is concerned one of my local dealers is advertising they (probably nissan) will cover 3 months on a lease termination, $500 wear/tear, the disposition fee. Unfortunately I have 5-6 payments left and I doubt they'll be kind enough to give me that extra $750 worth. I may email them to see, though. can't be bothered to go into the show room and waste time yet.
 
I made the same inquiry and got the same offer, they'd cover 2 months plus you get the $1,000 loyalty credit. I've still got a year and there are a lot of uncertainties for us, but if it's true, that's almost 6 months of payments for me! I was also told that the MY2014 would be short and that MY2015 would begin a more typical cycle, starting likely in September. Our biggest interest would be the new heat resistant and much larger battery, which is rumored to be more likely My2016. I'm hoping that's September 2015. not sure what we will do to cover the gap from lease end if the bigger battery doesn't come out by the end of our lease. We may just bite the bullet and upgrade to an SUV for snow and outdoor/camping trips. If Nissan comes out with a viable long distance runner at a decent price, we may hold off on an SUV and let the market play out another cycle or two. Tesla's Model X is tempting, but so far it looks like it's getting configured as a souped up minivan, with essentially no roof rack...a no go for us. the Mitsubishi Outlander PHEV may be the gap filler for us, while not an EV, it looks quite promising, with fully functional roof rack. We know that we can dramatically reduce the use of the second car that is paired with the model S to 4-5K a year (many of which would be short enough jaunts to be within the mitsu all EV range), maybe a bit more total miles if it turns out to be our long road trip car. having to rely on gas for those non-EV miles would be a difficult backward step for us to stomach.

I guess we are cursed with several decent but not perfect choices. we'd really like to settle back into buying cars that last us at least 10 years. we are willing to help the market through the transition to a thriving EV dominant market for a bit longer as long as federal tax credits and state sales tax exemptions continues and as long as we can make the numbers work. I suspect that Mitsubishi Outlander PHEV SUV will ratain it's value nicely for the first few years. It seems that for the right vehicles, there is a nice slow residual value curve in the Northwest, a market of folks who philosophically are so apposed to buying new cars that they will spend a premium to buy one lightly used, making flipping such vehicles more financially doable.

The Leaf posses a challenge for the way I've approached supporting alternatives over the last ten years, it's got the worst residual value of them all (of the ones I've owned) so far but as long as Nissan continues to offer killer lease deals it's tolerable. Generally, though, I don't like buying new cars so often and paying such a premium for it. The impact of producing new cars is huge but on the other hand, it's not like we are junking them when we flip, they are being introduced into the used market. I personally don't know what Nissan is going to be able to do with all these used Leaf's, guessing they are going to get shipped out of country. I suspect the majority will not buy out their lease and we may see Nissan go through some financial convulsions having to eat so much money on each one... the killer lease deals won't likely last forever.
 
This is very upsetting. I just called NMAC one week ago and argued with then over for over 15 minutes but I was told clearly I need to pay all 24 months of my lease.
 
mkjayakumar said:
This is very upsetting. I just called NMAC one week ago and argued with then over for over 15 minutes but I was told clearly I need to pay all 24 months of my lease.
Except for the last 3? It really seems to me it's quite standardized now that you can get 3 months of payments covered, or at least a lot of dealerships will take that on themselves.

I have turned two leases in early in the past few years. One option is to always pay out the remaining payments, but in both of my cases I got the cars so cheap to begin with that the current buy-out was very close (in one cases I think only $500 more than) what I was able to get on trade-in. On a leaf the trade-in is awful right now, so basically you'd need to pay all remaining months.
 
I spoke to NMAC today and I am FURIOUS is an understatement.

Today they are telling me if I had bought my car 1 day later on Feb 1st they would waivied my last month payment. Just a day earlier on Jan 31st morning I had a long argument with a rep on this and I was lectured that a 24 month lease means 24 payments and not 23. I hung up the phone disgusted and leased the new Leaf that evening. Actually I called in Oct last year I was told I will be given only one month grace period and not 3. And the 2nd week of Jan I was told no grace period and then the same was repeated to me on Jan 31st. Only to find out if I had waited one day I could have saved $450.
 
mkjayakumar said:
I spoke to NMAC today and I am FURIOUS is an understatement.

Today they are telling me if I had bought my car 1 day later on Feb 1st they would waivied my last month payment. Just a day earlier on Jan 31st morning I had a long argument with a rep on this and I was lectured that a 24 month lease means 24 payments and not 23. I hung up the phone disgusted and leased the new Leaf that evening. Actually I called in Oct last year I was told I will be given only one month grace period and not 3. And the 2nd week of Jan I was told no grace period and then the same was repeated to me on Jan 31st. Only to find out if I had waited one day I could have saved $450.

your statement makes me wonder a bit. my dealer had encouraged me to come in sooner but I could not due to a heavy work load so I ended up doing my lease changeover a day after i started my last month of my lease but it could have been SEVERAL weeks sooner. so have to think that either my dealer did some backend manipulations or something which may have changed the terms of my lease for payments or whatever... but my only stipulation was zero out the door (actually ended by a MINUS $37 due to an overestimate on tabs...)

but due to negligence on my part?? (or my banks inflexible payment system...) my final lease payment was paid (2 days before my first lease payment on the 2013 was paid)
but got it back

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Don't confuse your NMAC lease agreement with offers from Nissan or your dealer. NMAC has a financial instrument requiring the number of monthly rent payments specified in the lease agreement. 24 monthly rent payments does indeed mean 24 lease payments. Nissan and/or dealers may send you an offer to waive a number or remaining payments. It is misleading. The payments are not waived, they are paid by Nissan or the dealer. Bottom line, you don't have to pay them and can get into a new Nissan sooner. That's what Nissan and dealers want.... to get you into another one their vehicles before another manufacturer or dealer has a chance to earn your business. Remember, it costs hundreds of dollars in advertising expense to get a paying customer.

If you have 5 remaining payments and you get an offer to "waive" 3 remaining payments, spend the next two months finding the vehicle and the dealer that you want. Two months go by very quickly. Don't let a dealer push you into making a decision today. A deal offered today will be there in two months. It might even be better.
 
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