Has anyone been offered this by their selling dealer.......

I initially received an email from the Business Manager of the dealer I leased my 2018 Leaf SL from.

I have 21,650 miles on the car and my lease expires this September 2021. (3 year lease).

I was offered 2 options now: 1. Turn the car in, lease another car, remaining lease payments cancelled, not wrapped into new lease, and begin new lease on New Nissan car.

2, Due to the age and especially low mileage of the car, I could drop the car off now, and the remaining payments are cancelled, do not have to lease another car, just walk away, and lease/buy whatever car I want.

I have heard of the first option, but not the second. They must really want my low mileage car on their lot.

Anyone familiar with this?

How much did you put down and how much were payments if you don't mind me asking?

Very curious offer.

Doug
Not sure I understand your questions. Current car I pay $439 per month for the 36 month lease, put no money down.
I have not gone ahead with any deal from dealer at this point.
In fact I am leaning towards turning the car in, walking away, and leasing another manufactures EV.

#2 is pretty weird. But yeah, the only thing I can think of is that many leased vehicles have way under their allotted mileage per lease contract due to COVID, so they (or someone) wants to sell them as they look attractive to those who know nothing about EVs and just look at the odometer.

And, the used market seems to only value them by age and miles, not battery condition.

Sounds like #2 is a great deal of you don't have to lease from the same dealer.

What EV were you thinking of leasing?

Triggerhappy007 said:

Sounds like #2 is a great deal of you don't have to lease from the same dealer.

What EV were you thinking of leasing?

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This means that all EV’s are on the table.

I must say I am looking at the Tesla Model 3, long range (AWD) as a strong contender. When you compare the price to an SL Plus, there is more in the Tesla (AWD for example) and range on a full charge. I do not need a hatchback, I sort of prefer a sedan.

I compared the Leaf Plus 2020 vs. 2021 model year, they are the same car. Nissan has not done anything to enhance this car. Looks like they are putting the money towards to Arriya, but that wont be available in the US until mid 2022.

I got a letter a few weeks ago from the dealership we bought our 2017 Leaf from in late Sept, asking if we wanted to sell them the car back as they have "really low inventory" right now!
It had only been 3 months!

Its true there are very few Leaf Pluses in the online sales sites, while there are now 100s of M3s (guessing due to MY). Pluses sell used for low 30s, which is 40% less than a M3, so maybe there is a market for the value new ev buyer.

Baltneu said:

I must say I am looking at the Tesla Model 3, long range (AWD) as a strong contender. When you compare the price to an SL Plus, there is more in the Tesla (AWD for example) and range on a full charge.

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Model 3 LR is $45,490 + $1200 dest and doc fee + tax and license. It gets $0 Federal tax credit.

NOBODY is paying MSRP on Leaf Plusses and it's eligible for $7500 Federal tax credit. https://electrek.co/best-electric-vehicle-prices/ which http://ev-vin.blogspot.com/ points to has some example Leaf prices.

There's a huge price difference between the two, esp. after tax credit. Too bad I don't need another EV... and at this point, CHAdeMO is a liability due to EA and Nissan's Ariya announcement for the US.

cwerdna said:

Baltneu said:

I must say I am looking at the Tesla Model 3, long range (AWD) as a strong contender. When you compare the price to an SL Plus, there is more in the Tesla (AWD for example) and range on a full charge.

Click to expand...

Model 3 LR is $45,490 + $1200 dest and doc fee + tax and license. It gets $0 Federal tax credit.

NOBODY is paying MSRP on Leaf Plusses and it's eligible for $7500 Federal tax credit. https://electrek.co/best-electric-vehicle-prices/ which http://ev-vin.blogspot.com/ points to has some example Leaf prices.

There's a huge price difference between the two, esp. after tax credit. Too bad I don't need another EV... and at this point, CHAdeMO is a liability due to EA and Nissan's Ariya announcement for the US.

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You do not get the tax credit when you lease.

One car (Leaf) is an economy car, the other car (M3) is a luxury vehicle. I believe the MSRP is close.

You do not get the tax credit when you lease.

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You often DO get it, indirectly, and this is especially true when Nissan or another manufacturer wants to move cars off the lot. We got about $10,650 in incentives, and you can bet that $7500 of that is Nissan passing along the tax credit without explicitly saying so. They used to do that as a matter of policy, but now they keep between all of it and none of it, depending on the market conditions at the time. This is why a lot of us use leasing to buy an EV, when we don't qualify for that full credit.

Baltneu said:

You do not get the tax credit when you lease.

One car (Leaf) is an economy car, the other car (M3) is a luxury vehicle. I believe the MSRP is close.

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True on the 1st point. But my point stands, nobody is paying MSRP on Leafs.

Using Tesla's lease calculator (I don't know what terms you had in mind), a Model 3 LR AWD at 36 months and 10K miles a year has a default down payment of $4500 (which makes it $5667 due at signing) then it's $472/month. So, for 35 payments + $5667 due at signing, it's $22,187 to rent it for 3 years, not including tax and license.

I double checked with the dealer before making a trip to the dealer and they pulled a bait and switch.
I thought that the deal to buy me out of my lease, and walk away was too good to be true. The Bus. Mgr told me today it is up to the sales mgr if he wants to buy the car, and he does not, they have plenty of used Leafs on the lot and don’t need anymore.

So I wrote back, I will see you in Sept when the lease is up, the fact is they will see me in Sept but if I decide to lease another Leaf, it will not be with them for pulling this crap, but you cannot be surprised. It is a good thing I did not waste my time going to the dealer, then I would have had to take a 2nd shower today to get off the slime.

Wow. That sucks. Eek! I too would be pretty soured by a dealer experience like that.

They pull this sh*t all the time - offers to buy your (leased) car for more than it's worth, offers that imply that they will eat remaining payments when they won't, etc. Car dealerships are like paycheck loan shark "services" - they are criminal enterprises that we have decided to allow to exist in the open.

Baltneu said:

I double checked with the dealer before making a trip to the dealer and they pulled a bait and switch.
I thought that the deal to buy me out of my lease, and walk away was too good to be true. The Bus. Mgr told me today it is up to the sales mgr if he wants to buy the car, and he does not, they have plenty of used Leafs on the lot and don’t need anymore.

So I wrote back, I will see you in Sept when the lease is up, the fact is they will see me in Sept but if I decide to lease another Leaf, it will not be with them for pulling this crap, but you cannot be surprised. It is a good thing I did not waste my time going to the dealer, then I would have had to take a 2nd shower today to get off the slime.

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Too good to be true and outright lies are typical of car dealers. I negotiated my recent 2020 Leaf all on the phone between 8 dealers. Every one of them tried to hide fees that’s why I only was willing to discuss out the door price.

Leaf EV has particular challenges because of the available tax credit. If you don’t qualify for the full tax credit leasing is a good option as long as you know the numbers.

I’ve only leased one car for myself, an Acura RL. When it came time to turn it in I was seriously interested in buying it. But the residual was $4000 more than the actual Retail Cash Value and Acura would not budge of price to purchase so I turned it in. I was contemplating having a broker buy it for me at auction but I didn’t go that route.

I’ve negotiated probably 5 leases (all Honda’s) for family members. I never ask how much a month. I ask:
MSRP
CAP COST
RESIDUAL%
MONEY FACTOR
Acquisition and disposition fees.

I negotiated each item individually (other than MSRP) plug the numbers into a spread sheet to come up with down payment and monthly payment.

Flyct said:

I’ve negotiated probably 5 leases (all Honda’s) for family members. I never ask how much a month. I ask:
MSRP
CAP COST
RESIDUAL%
MONEY FACTOR
Acquisition and disposition fees.

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Interesting that you accept the notion of starting from MSRP. I presume you expect discounts off MSRP to show up in the Residual but I don't think that is universal.

I’ve negotiated probably 5 leases (all Honda’s) for family members. I never ask how much a month. I ask:
MSRP
CAP COST
RESIDUAL%
MONEY FACTOR
Acquisition and disposition fees.

I negotiated each item individually (other than MSRP) plug the numbers into a spread sheet to come up with down payment and monthly payment.

Click to expand...

Those interested in leasing but not buying a car really only need to worry about the total cost of the lease (DP plus sum of payments, plus all fees), putting down only as much as they are willing to lose if the car is totaled. Dealers will compete by, if possible, moving costs into the residual - and that's fine if you want a new car in two or three years.

I have leased all my vehicles over the last 20 years and I never put any money down.
I get why people do it, to reduce payment amount.
However, a poor use of your money. You have given up the use of the money and since you have given it up, you can not earn any return/interest on the money.
I also find it easier dealing with the slimy salespeople by keeping all the variables constant when comparing deals from one dealer to the other. Buying a car is my least favorite event.

SageBrush said:

Flyct said:

I’ve negotiated probably 5 leases (all Honda’s) for family members. I never ask how much a month. I ask:
MSRP
CAP COST
RESIDUAL%
MONEY FACTOR
Acquisition and disposition fees.

Click to expand...

Interesting that you accept the notion of starting from MSRP. I presume you expect discounts off MSRP to show up in the Residual but I don't think that is universal.

Click to expand...

No. You don’t start from MSRP.
MSRP is ONLY used to calculate residual dollar value at end of lease. Lease residual % is always calculated from MSRP
Cap cost is what you are paying for the car (MSRP - Discount)
Money factor is interest you are paying. Multiply money factor but 2,400 to get interest rate.

So if you don’t intend on buying the car at the end of a lease you want to negotiate a high residual, low money factor and lowest Cap cost.
If you intend on immediately buy the car soon after signing the lease you need to negotiate the lowest Cap cost.
If you intend on buying the car at the end of the lease you want lowest residual, lowest cap cost and lowest money factor

I believe currently Nissan charges a $650 acquisition fee on all their leases. That fee is paid at lease inception.
I believe Nissan charges a $300 disposition (turn-in) fee at lease termination. You get charged that when you turn in the car.

For example. From a Nissan site today a 36 month lease on a 2021 Leaf S
$32,545 MSRP
$21,568 cap cost
$14,645 residual (45% of MSRP)
$650 non refundable acquisition fee
They don’t post the money factor but if you ask they must disclose it.

$2,995 at lease inception ($2,760 down payment plus $239 first lease payment)
$239/month lease payment
25 cents per mile over 10000 miles a year.






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