I will follow in the OP's (i.e. original poster's) footsteps, because I regard their approach as both valid and viable. So, the OP's question will be answered by having the OP comparing their work with my step-by-step work.
Index the coupons Coupon-1, Coupon-2, ..., Coupon-N.
Since any of the coupons can be the last coupon taken, reserve the factor of $~\displaystyle \binom{N}{1},~$ and then assume that in the first $~(n-1)~$ coupons, that all coupons except Coupon-N have been acquired.
So, now with the factor of $~\displaystyle \binom{N}{1},~$ reserved, you are computing the probability that each of the following events have occurred.
None of the first $~n-1~$ coupons obtained are Coupon-N.
The probability of this occurring is $~\displaystyle \left[ ~\frac{N-1}{N} ~\right]^{n-1}.~$
The $~n$-th coupon obtained is Coupon-N.
The probability of this occurring is $~\dfrac{1}{N}.~$
Given that none of the first $~n-1~$ coupons obtained are Coupon-N, that each of Coupon-1, Coupon-2, ..., Coupon-(N-1) were obtained among the first $~n-1~$ coupons. I will express this probability as $~\dfrac{A}{B},~$ which will be explained later.
Therefore, the final computation will be
$$\binom{N}{1} \times \left[ ~\frac{N-1}{N} ~\right]^{n-1} \times \frac{1}{N} \times \frac{A}{B}. \tag1 $$
So, the problem reduces to computing the fraction $~\dfrac{A}{B}.$
Inclusion-Exclusion is certainly feasible here. See this article for an
introduction to Inclusion-Exclusion.
Then, see this answer for an explanation of and justification for the Inclusion-Exclusion formula.
Following the syntax in the second link, directly above:
Let $~S~$ denote the set of all possible (equally likely) ways of obtaining $~(n-1)~$ coupons.
For $~k \in \{ ~1,2,\cdots,N-1\},~$
let $~S_k~$ denote the subset of $~S~$ that represents all possible ways of obtaining $~(n-1)~$ coupons, where Coupon-k is never obtained.
Then, the computation of $~\dfrac{A}{B}~$ may be represented by :
$$A = |~S~| - | ~S_1 \cup S_2 \cup \cdots \cup S_{N-1} ~|, ~~~~B = (N-1)^{n-1}. \tag2 $$
So, the entire problem reduces to computing $~A.~$
Let $~T_0~$ denote $~\displaystyle | ~S ~| \implies T_0 = (N-1)^{n-1}.$
Let $~T_1~$ denote $\displaystyle \sum_{1 \leq i_1 \leq N-1} | ~S_{i_1} ~|.~$
That is, $~T_1~$ represents the sum of $~\displaystyle \binom{N-1}{1}~$ terms.
By considerations of symmetry, each term equals $~([N-1]-1)^{n-1}.~$
Therefore, $~\displaystyle T_1 = \binom{N-1}{1} \times ([N-1]-1)^{n-1}.$
For $~r \in \{2,3,\cdots,N-1\},~$
let $~T_r~$ denote $\displaystyle \sum_{1 \leq i_1 < i_2 < \cdots < i_r \leq N-1} | ~S_{i_1} \cap S_{i_2} \cap \cdots \cap S_{i_r} ~|.~$
That is, $~T_r~$ represents the sum of $~\displaystyle \binom{N-1}{r}~$ terms.
By considerations of symmetry, each term equals $~([N-1]-r)^{n-1}.~$
Therefore, $~\displaystyle T_r = \binom{N-1}{r} \times ([N-1]-r)^{n-1}.$
Then, by Inclusion-Exclusion theory, the expression for $~A~$ shown in (2) above is equivalent to
$$\sum_{r=0}^{N-1} (-1)^r T_r
= \sum_{r=0}^{N-1} (-1)^r \left[ ~\binom{N-1}{r} \times ([N-1]-r)^{n-1} ~\right]. \tag3 $$
Putting (1), (2), and (3) above together, the final computation is
$$\binom{N}{1} \times \left[ ~\frac{N-1}{N} ~\right]^{n-1} \times \frac{1}{N} \times \frac{1}{(N-1)^{n-1}}$$
$$\times \sum_{r=0}^{N-1} (-1)^r \left[ ~\binom{N-1}{r} \times ([N-1]-r)^{n-1} ~\right]$$
$$= \left[ ~\frac{1}{N} ~\right]^{n-1} \times \sum_{r=0}^{N-1} (-1)^r \left[ ~\binom{N-1}{r} \times ([N-1]-r)^{n-1} ~\right].$$