Hello! New to leasing and looking to see if this is as good a deal as it appears.
Nissan Leaf SV PLUS
18 or 36 months, 5k miles/year
<100 miles
$297.70/month all-in (taxes, title, registration, etc)
MSRP $38,740
$1,000 lease credit
$6,000 dealer discount for 2023 model
Money factor 0.00052
Residual 62%
Acquisition fee is (I believe) $695, lease through NMAC
Disposition fee is (I believe) $350
Mileage is low, could double it for a few dollars but this is a second vehicle just to drop off and pick up the kid from school (2-3 miles away) and the occasional trip to the airport (30 miles). Expecting to do probably more like 2400/year. If it makes sense we would consider buying after 36 months since kid will be 16 and this seems like it might make a decent first car, but not committing to that, only if the numbers are good.
The numbers are good for an Electric, but for the same money you can also get a Gas which is what I recommend you ‘pass down’ to your child in 3 years.
Less Insurance
Long Distance ability
The key is ‘pass down to my child’, that changed my mind (and I luv EVs)
Thanks - we have a few reasons for wanting to stick with an EV – mostly because we already have one and have the charging infrastructure in place at home, and we’re fully solar so cost to fuel is essentially $0.
The lack of long distance driving is a plus for me considering he’ll be a new driver at the time. I haven’t checked insurance on the Leaf but I have to assume it is close to nothing, but I should do that.
Again, it’s not a guaranteed hand-me-down; we could be in a totally different place then, the numbers might not make sense, etc. Since I’ll be driving it for the first 18-36 months though, I’d prefer to stick with an all-electric. If he doesn’t like it, he can turn down a free vehicle. I’m just trying to figure out if this is a good deal versus just going with another Tesla really. If it’s average, that’s more reason to just get a MYP.
Oh I know. The only reason I’m looking at the Leaf is cost, 100%. If it’s a great deal then it’s worth leasing this for 18-36 months and observing the economy. If it’s not that great of a deal, I’ll just get what I want now (which will be a Model Y Performance).
I’m also not sure what’s going to happen when they switch the federal tax credit to at-purchase and what that’s going to do to leasing/lending numbers in January so the Leaf also acts as a bit of a buffer against a major price change to the Tesla. I feel like dealers are going to mark up their EVs substantially.
99% guaranteed this won’t make sense to buy at lease-end.
So it’s not a really good choice for future proofing your needs. A gas Corolla would do that better.
I’m usually pro EV when it makes sense but you’re talking about a couple hundred dollars in gas, annually. Which isn’t worth it when you’re back to square one for your kid and have to pay tax, DMV and initial depreciation all over again.
ok , well is it a good deal? No
18/36 , 5k Year? This sounds like an Ally lease, and no one wants an Ally lease
Nissan’s is 7.5 min so the 5k doesn’t seem to work. Nissan doesn’t offer an 18m for this model anymore (I THINK) so you might be getting a different bank.
So all in all, it’s an OK deal, not a great deal honestly.
But if all you want is a payment, this model is the lowest available.
Interesting. I booked the appointment through Nissan’s @home site or whatever it’s called, and the dealership said it would be through NMAC. Of course, could be misinformation. It’s definitely 5k. I’ll double check to make sure it’s not Ally though if that’s the case.
Never thought about it on a per-mile basis. Thanks for this perspective. I was thinking that $10/day to have a vehicle available as-needed seemed very inexpensive, but you’re right, that’s a lot per mile for what I’m getting. If I consider it another way, right now we’re doing about 8000 miles a year on our Model 3P, split between two of us; if I went with a vehicle that I’d actually enjoy driving instead of only using it for kid duties, it’d cut 4k miles out of the M3 and boost this one up to about 6k. At the same $1.50/mile cost, that’s an equivalent of $750/month and puts me in the territory of many nicer options.
I’m just trying to figure out if this is a good deal versus just going with another Tesla really. If it’s average, that’s more reason to just get a MYP.