2017 Nissan Leaf S - MSRP = $34,480
Dealer Price on their Website - $26,995
Internet Discount - ($500)
Net Before Rebates - $26,445
Federal Rebate ($7,500)
PSEG Rebate (NJ) ($10,000)
Selling Price - $8,945
Plus some fees…no sales tax on electric cars
Discount (74-75%)
I could be wrong, but don’t you get those rebates when you file your taxes next year? So you’ll end up getting a check from the IRS for the rebates, but they don’t come off at the time of purchasing the vehicle.
You’re right. The $7500 rebate is off your tax bill next year. I think the Nissan USA $10,000 credit for PSEG customers is at the time of sale.
So its more like 52% off MSRP + $7500 tax credit.
From what I see, the offer says $10k off MSRP. Doubt the dealership would offer their discount in addition to the $10k off PSEG promo.
Here’s one at a NJ dealership… http://www.springfieldnissan.com/vehicles/2017-nissan-leaf-s-hc308634-1n4bz0cp2hc308634 . The $10,000 PSEG rebate and the $7500 Federal tax credit don’t come out of the dealerships pocket. Don’t see why they can’t stack them.
The PSEG rebate is fairly new so you may start to see some of those discounts disappear on the remaining 2017 inventory.
We just bought a 17 Leaf S here in Georgia. MSRP was 33805, and local utility had 10k rebate. With discount of 4500, we were at 19355+tax. Then we will get the 7500 when we file our taxes so net will be 11855.
If you can get another 3k off, that’s a great deal. Inventory is REALLY slim here in Atlanta so this was the best I could do, particularly for the color my wife wanted (black may have gotten another 300-400 off).
interesting… how does the lease work on this ?
The 10K rebate is for purchase only and not for lease. Even with its low residual this wouldn’t be a very good lease as the 10K rebate would bring it very close if not below its residual value. The rebate is available pretty much in all big cities and metro areas where its being pushed through the utility companies as Nissan knows there is no way they can sell these even at around 20K after discounts and rebates.
BTW NY state has another $1700 to make this deal even sweeter but you still have to pay sales tax on the purchase price on it in NY compared to NJ where electric cars are tax exempt.
HN.
What @HN308 said, except that I think the second sentence is missing a “not”… Even with its low residual value this would NOT be a very good lease….
The only lease cash available is $11,550, and you don’t get the Fed Tax Credit like when you purchase. I ran the numbers on the lease (without the 10K utility rebate) and the purchase with it. When I assumed a 27% trade-in value at the end of 3 years (little higher than the residual they are quoting, but that’s about what 2014s are going for with the older battery), the “purchase now and then sell in 3 years” number was a better effective monthly payment than the best lease payment I could get. So I ended up buying it instead with 2% money for 60 months, and will get $7500 back in January.
When the car is leased the leasing company takes it off the top. You don’t own the car so you don’t get the tax benefit.