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2015 Rogue Lease Question

halpie97halpie97 Posts: 8
edited September 2017 in Nissan
First, I am a novice. I have a 2015 Rogue SL lease with 18k a year. Lease originated in Aug 2015 and driving pattern changed so now (25 months in) only have 25k miles versus 36k+ under lease. Likely not going to get above 30k before the lease expires. Given that NMAC priced this for 54k miles and I will be no where near that why wouldn’t my lease have equity value for a buyout now versus a dealer telling me that I have 2k of negative equity. Thanks in advance.

Comments

  • kyfdxkyfdx Posts: 128,361
    halpie97 said:

    First, I am a novice.

    I have a 2015 Rogue SL lease with 18k a year. Lease originated in Aug 2015 and driving pattern changed so now (25 months in) only have 25k miles versus 36k+ under lease. Likely not going to get above 30k before the lease expires.

    Given that NMAC priced this for 54k miles and I will be no where near that why wouldn’t my lease have equity value for a buyout now versus a dealer telling me that I have 2k of negative equity.

    Thanks in advance.




    A few possible reasons:

    1) You are only two years in.. Even though your payoff amount is dropping in a straight line, actual depreciation on a new car is steepest at the beginning.

    2) Lease residual amounts do not always sync up with the real-world. Some makes use unrealistically high residuals as an incentive to lower the payment.

    3) That's just one dealer, bargaining on a new car. Another dealer or an independent like Carmax might put a different value on it. (though, doubtful it would be enough to make up for $2K negative equity)

    It's rare to have equity in a lease. Of course, if you are way under on mileage, you have a better chance, but that's no guarantee.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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