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    • liberty1968
    • By liberty1968 13th Jun 17, 10:56 PM
    • 1Posts
    • 0Thanks
    liberty1968
    Keep the Nissan Leaf on lease or buy?
    • #1
    • 13th Jun 17, 10:56 PM
    Keep the Nissan Leaf on lease or buy? 13th Jun 17 at 10:56 PM
    Hi all

    We have been leasing a brand new Nissan Leaf for two years, ends soon. Need to decide whether to renew lease, get a lease on a newer model (slightly better range, more money) or buy one - either this one or another.

    It has a few panels dented which would need to be fixed too.

    At least four scenarios here and they are doing my head in a bit I have to say. Want the easier path (keep it) but don't want to be over charged. Residual is £14.5K but we think we could get one elsewhere for C£12K. Panel work could be £500 (waiting for a quote).

    Would only be paying around 2% for the finance, as we will be remortgaging anyway. So buying seems cheaper than leasing. BUT....

    Perhaps it boils down to the difficult question of, what will a Nissan Leaf be worth in 2 > 3 > 5 years. Not much I'm imagining.

    Have to decide soon to play it safe.

    All thoughts welcome.

    Many thanks

    Libby
Page 1
    • parking_question_chap
    • By parking_question_chap 13th Jun 17, 10:59 PM
    • 1,396 Posts
    • 1,209 Thanks
    parking_question_chap
    • #2
    • 13th Jun 17, 10:59 PM
    • #2
    • 13th Jun 17, 10:59 PM
    Depends what is most important.

    Money in bank or newer car on drive.
    • Shaka_Zulu
    • By Shaka_Zulu 14th Jun 17, 8:12 AM
    • 973 Posts
    • 2,236 Thanks
    Shaka_Zulu
    • #3
    • 14th Jun 17, 8:12 AM
    • #3
    • 14th Jun 17, 8:12 AM
    . Residual is £14.5K but we think we could get one elsewhere for C£12K. Panel work could be £500 (waiting for a quote).
    Originally posted by liberty1968
    From what you say the car is over valued, unless you can haggle the price down walk away. I doubt they will haggle I have tried this before.

    You will have to pay for the repairs one way or the other.

    Please don't add this to your mortgage that will cost you a fortune unless you over pay your mortgage.
    • LandyAndy
    • By LandyAndy 14th Jun 17, 8:19 AM
    • 23,836 Posts
    • 50,489 Thanks
    LandyAndy
    • #4
    • 14th Jun 17, 8:19 AM
    • #4
    • 14th Jun 17, 8:19 AM

    Would only be paying around 2% for the finance, as we will be remortgaging anyway. So buying seems cheaper than leasing. BUT....

    Perhaps

    Libby
    Originally posted by liberty1968
    This is madness.

    Borrowing long to buy short is one of the worst things you can do.
    • wgl2014
    • By wgl2014 14th Jun 17, 9:55 AM
    • 275 Posts
    • 148 Thanks
    wgl2014
    • #5
    • 14th Jun 17, 9:55 AM
    • #5
    • 14th Jun 17, 9:55 AM
    2015 Leafs start at £7.5k on Autotrader (I appreciate yours may be higher spec). That's a hell of a difference if yours would cost twice that.
    • Guinness-Cat
    • By Guinness-Cat 14th Jun 17, 10:22 AM
    • 85 Posts
    • 317 Thanks
    Guinness-Cat
    • #6
    • 14th Jun 17, 10:22 AM
    • #6
    • 14th Jun 17, 10:22 AM
    RCI have been officering to let current owners keep for the CAP rather than GFV - defiantly worth enquiring with them. There is quite a long post if you google it on an electric vehicle forum.


    I was in the same situation in December, and RCI said at the time the CAP offer was only until the end of the year (mine was due back Jan 4th) and they weren't sure whether it was being extended. Other people have confirmed it has been.


    I chose to let them have my 64plate 30k miles Tekna back (which they wanted ~ 13.5k) and bought a 15 plate Acenta with 6kmiles for 10k


    I don't miss the Teckna spec that much - and prefer the better economy for the accenta and the fact it has the 6.6KW charger.


    I agree with Landy Andy - don't add it to your mortgage. I got a personal loan over 4 years and pay ~220 per month. PCP charged for a new one would be more for me as I do 15k per year.
    • Guinness-Cat
    • By Guinness-Cat 14th Jun 17, 10:25 AM
    • 85 Posts
    • 317 Thanks
    Guinness-Cat
    • #7
    • 14th Jun 17, 10:25 AM
    • #7
    • 14th Jun 17, 10:25 AM
    2015 Leafs start at £7.5k on Autotrader (I appreciate yours may be higher spec). That's a hell of a difference if yours would cost twice that.
    Originally posted by wgl2014


    I can't find any decent battery owned 2015's for less than 10k - if you find one this much cheaper be cautious that it isn't a flex model (meaning you have to make battery payments too)
    • Nobbie1967
    • By Nobbie1967 14th Jun 17, 10:47 AM
    • 633 Posts
    • 738 Thanks
    Nobbie1967
    • #8
    • 14th Jun 17, 10:47 AM
    • #8
    • 14th Jun 17, 10:47 AM
    This is madness.

    Borrowing long to buy short is one of the worst things you can do.
    Originally posted by LandyAndy
    That assumes no overpayments are made. I did this when I bought a car and simply overpaid by an amount that would have the money paid back well within the life of the car.
    • almillar
    • By almillar 14th Jun 17, 2:01 PM
    • 7,019 Posts
    • 2,801 Thanks
    almillar
    • #9
    • 14th Jun 17, 2:01 PM
    • #9
    • 14th Jun 17, 2:01 PM
    I've got a similar situation coming up with my Zoe, but am planning to hand it back of course. Renault purposely set it up for the PCP payments to be very low, and therefore the final payment very high, to get cars on the road (I guess). That sets them up for the final payment being far more than the car's worth, and that's what's happening. Looks like you've got a similar situation with the Leaf, so for your current car, you should likely hand it back, unless you can get that offer above, where the dealership will accept CAP value from you to let you keep it. This avoids having to carry out the repairs, or getting stung for them.
    Leaf deals are very good though, at the moment as I'm sure you've seen - I've seen under £200 per month. There'll be some deposit to add to that I'm sure, but you may find it'll be cheaper to run a new (soon to be replaced, 24kWh or 30kWh) Leaf for 2 years than to buy your current one! Get a quote for repairs before you hand back, it might end up cheaper.
    • rtho782
    • By rtho782 14th Jun 17, 2:45 PM
    • 982 Posts
    • 680 Thanks
    rtho782
    Assuming you're financed through RCI, they will probably let you pay the CAP price rather than the GFV. This has been done by many over at speakev.

    https://speakev.com/threads/2-yr-pcp-ending-pay-cap-instead-of-gfv.21043/

    On the other hand, a lease on a new 30kW Tekna is about £230/m, so might be cheaper to just swap for a new one.

    Also worth considering the new leaf at either 40kW or 60kW should be out soon.
    Deposit Saved since 01/12/15: £13,000 / £15,000 House Bought!

    Debt Cleared since 01/12/15: £6,000 / £7,500
    • Jonesya
    • By Jonesya 14th Jun 17, 9:56 PM
    • 1,301 Posts
    • 806 Thanks
    Jonesya
    I expect that when the new crop of EVs are launched with ranges of 200+ miles, within a couple of years of launch, the existing sub-100 mile EV fleet won't be worth that much at all.

    But that said - car value only matters if you intend to sell or trade the car at some point - if you're going to run it until you scrap it, the value doesn't matter.
    • LandyAndy
    • By LandyAndy 15th Jun 17, 8:25 AM
    • 23,836 Posts
    • 50,489 Thanks
    LandyAndy
    That assumes no overpayments are made. I did this when I bought a car and simply overpaid by an amount that would have the money paid back well within the life of the car.
    Originally posted by Nobbie1967
    And that assumes that the OP has a mortgage that accepts overpayments at the rate required and the will and funds to make them.


    I'd take a bet that far more people use re-mortgage money to fund car purchases and just let it get absorbed into the mortgage debt than ever do what you did.
    • almillar
    • By almillar 15th Jun 17, 12:31 PM
    • 7,019 Posts
    • 2,801 Thanks
    almillar
    Also worth considering the new leaf at either 40kW or 60kW should be out soon.
    It will (more like 40kWh I think BTW) but OP can't really do anything with that. They have to either hand back or buy long before that comes out. So if they want the NEW Leaf, they should go for a new Leaf for 2 years, then start again with the new one. Or buy their current car at the lower CAP value, then trade it for the new one as soon as it comes out. That's what Nissan wants them to do anyway!
    I like the new i3, but no matter what car I go to it'll cost x2 per year than the Zoe I'm running!
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