I am getting ready to buy a 2013 Leaf. I've been told that a lease would be better than an outright purchase because of the technology risk. Better batteries might cut down on resale value. I have never leased a car and fortunately I could just buy it outright with a trade in of my 2006 Prius. For the SL they are quoting $296 per month or a price around 34k. When you consider that the $7500 tax credit is factored in that is like another $208 per month for a lease. Plus I am tied up for 3 years. I don't know what the residual value would be but that seems pretty steep. Anybody have any thoughts?
lease vs purchase
- Thread starter mogul59
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mhigley
Well-known member
I leased and I have never leased a car in my life. Over the next few years EVs are going to change pretty drastically or they will be gone IMO. Competition is coming. Elon Musk is talking about a $30k model. Who knows what will be out there in a few years.
Even though I am a LEAF cheerleader, I can't get past not having a battery cooling system.
Good luck!
Even though I am a LEAF cheerleader, I can't get past not having a battery cooling system.
Good luck!
Benjenn
Well-known member
We bought our Leaf a year ago - before the great lease deals were available. If we had it to do over again, we would probably lease instead. The cost of the month lease payment isn't much more (sometime less!) than you'd pay just in gas. Plus, like was said already, the technology is just going to keep getting better and cheaper as time goes on. Good luck to you either way -- you will LOVE it! 
evnow
Well-known member
mogul59 said:
Negotiate the lease rates. See the Lease thread for what others are getting.
BTW, where are you ? If you are in a "hot" climate, I'd definitely lease. Otherwise, I'd merely suggest leasing.
smkettner
Well-known member
Depends on how the battery holds up this third summer and the eventual battery replacement cost.
Otherwise the lease is a slam dunk in most cases.
Otherwise the lease is a slam dunk in most cases.
thankyouOB
Well-known member
it is a personal issue. if you dont lease ever, you could still consider leasing a LEAF.
I never lease, and didnt this time, and dont regret it.
I also factored in that decision that i will be done commuting in 18 months. your mileage may literally and figuratively vary.
some care more about saving money and being nimble in case of trade-up opportunities than in not getting a lease bill every month, worry about mileage traveled, or owning nothing after paying 6-10k after three years.
There is no wrong answer.
are you bucks up? then I would buy. does your state offer some incentive that gets reduced if you lease? another factor; and that is the case with the federal rebate, where Nissan gobbles up some of the money and also charges you if you want to buy out early.
I never lease, and didnt this time, and dont regret it.
I also factored in that decision that i will be done commuting in 18 months. your mileage may literally and figuratively vary.
some care more about saving money and being nimble in case of trade-up opportunities than in not getting a lease bill every month, worry about mileage traveled, or owning nothing after paying 6-10k after three years.
There is no wrong answer.
are you bucks up? then I would buy. does your state offer some incentive that gets reduced if you lease? another factor; and that is the case with the federal rebate, where Nissan gobbles up some of the money and also charges you if you want to buy out early.
DesertDenizen
Well-known member
First lease of my life, (which is a long time). But living in Tucson with the battery capacity degradation issues, it was the way to go.
Purchase in the PNW (or places equally as cool, year round). Lease every place else.
Edit: At least until we know more about replacement battery pack costs.
Edit: At least until we know more about replacement battery pack costs.
SteveInSeattle
Well-known member
I purchased my 2011 SL and regret doing so as the depreciation was much worse than I expected. I got out and leased a 2013, first lease ever. With the lease deals being offered I think the lease is the better choice right now.
TomT
Well-known member
+1!
mhigley said:
Epi117
Well-known member
I did a two,year lease on a 2013. Planning to see how things go in next few years, how many leafs does nissan need to sell before we lose the fed $7500?
Also leased to take advantage of $7500 fed discount, pretty sure we didn't have sufficient deductions to get it otherwise.
Also leased to take advantage of $7500 fed discount, pretty sure we didn't have sufficient deductions to get it otherwise.
planet4ever
Well-known member
Off topic, but that seems like an extremely odd statement. I suspect strongly that you misunderstand how the tax credit works.Epi117 said:
Ray
planet4ever
Well-known member
Depending on where you are, $296 sounds on the high side right now. Please update your Profile in the User Control Panel so we can get at least a general idea of your location.mogul59 said:
Now there's an odd kind of math! I guess you are somehow trying to make it comparable to the $34k. If you really want to compare apples to apples, how about assuming you put down the same amount on the $34k that you are on the lease and finance the rest and plan to pay down the loan partially using a lump sum $7500 a year later. Now compare your monthly out-of-pocket loan costs with lease costs. Of course for that to be meaningful you also have to compare loan balance against lease balance at the end of the lease period. Oh, one more thing. Estimate resale value at that time to find out if you are under water. The chances are good you will be with the loan, and may be with the lease. If you are with the lease, no sweat; just turn it in. If you are with the loan you may feel you need to hang on to the car a few more years. Even if the battery is getting quite marginal.mogul59 said:
Ray
Here in the UK I have just agreed a lease agreement for a new 2013 Leaf, although that is not officially what it is. I have agreed to pay a deposit of £3222 and 24 monthly payments of £120.80. Should I then choose to keep the car (which I won't) I would have to pay Nissan £14001. If I hand it back to Nissan I owe them nothing. With the second-hand values in 2 years an absolute unknown and a cost of £20,000 for a new battery set if the thing packs it in after 5 years, it seemed to me to be a bit of a no-brainer. teichholtz
Active member
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The responses in this thread are spot on. I just leased at 2013 SL. And let me tell you that for most of my life I owned $1200 used cars that I would put over 100,000 miles on and then drive to the junk yard. (disclaimer: Wife drives new cars) I have done all my own mechanical work all of my life so car ownership costs have been less than it might be for other people.
The lease I got on the Leaf is for two years and I can extend it 6 months at at time for no fees. The fuel savings I have seen just in two weeks calculate out to half the lease payment, and I was driving a Smartcar at around 40mpg.
Like other people have pointed out, with the amount of technology in these cars you don't want to own it. And in two or three years I would wager that the range will be around 150 miles.
The lease I got on the Leaf is for two years and I can extend it 6 months at at time for no fees. The fuel savings I have seen just in two weeks calculate out to half the lease payment, and I was driving a Smartcar at around 40mpg.
Like other people have pointed out, with the amount of technology in these cars you don't want to own it. And in two or three years I would wager that the range will be around 150 miles.
Herm
Well-known member
JoeCool99 said:
Congratulations!
We think the battery replacement will be around $10k, perhaps less if Nissan decides to lose more money on this BEV project before things pick up.. but the weather in the UK is too cool to wear out a battery in 5 years, probably 10 or longer, unless you drive an awful lot of miles every year.
LTLFTcomposite
Well-known member
Remember too that leasing doesn't preclude buying. You can always buy it out at the end of the lease, or earlier, and doing it that way not only assures you get the $7500 tax credit, but you get it right away. Leasing then buying will probably cost a bit more than just buying to begin with, but when I crunched the numbers it wasn't a huge amount, maybe $1500, which I think of as an insurance policy against the car declining in value for any reason (mostly likely new and improved models coming to market).
Submitted for your consideration, lease now, then reassess as you go.
Submitted for your consideration, lease now, then reassess as you go.
CMYK4Life
Well-known member
Leasing a 2013 SV made the most sense for my family. The payment was low and we have a way out in 24 months if the car does not work for my family.
Also, the math works out such that the car almost pays for itself in fuel savings each month (if you dont count the money we put down)
I am in love with the car and we have realistic expectations so I think we will not have a problem. However, this is our first EV and no matter how much we read on the forum you just dont know until you try. We will be giving it a try for the next 24 months.
Also, the math works out such that the car almost pays for itself in fuel savings each month (if you dont count the money we put down)
I am in love with the car and we have realistic expectations so I think we will not have a problem. However, this is our first EV and no matter how much we read on the forum you just dont know until you try. We will be giving it a try for the next 24 months.
My 2013 SV is my first lease too. We just paid off and traded in a 2008 Mazda5. The amount it depreciated makes me like this leasing thing. It really made sense to me to lease the Leaf for the many reasons mentioned by others, and now I'm having trouble imagining going back to financing over leasing on future cars.
kikbuti
Well-known member
I have leased many cars to make my monthly payments more affordable. For the same monthly payment, you can buy a Honda or lease a Jaguar, BMW, Mercedes or Lexus. I rarely kept a car long enough to enjoy the equity anyway, and a few times that I did, I didn't like the unexpected major repair that sometimes came up.
The benefit of leasing versus buying a Leaf are even greater. As many have already pointed out, the technology will likely be much greater in a few years and we will likely have more vehicles to choose from... like the Fiat 500e or maybe an Infiniti version of the Leaf with power memory seats and power memory tilt and telescopic steering wheel. And with a lease, you get the benefit of the $7500 tax credit up front.
I'm turning in my 2010 Nissan Maxima lease early. Nissan is waiving the last few payments, waiving the termination/disposition fee, and waiving up to $500 excess wear and tear. So do not fear lease end charges.. they are manageable. Lessors do not "try to charge you" money at lease end. They own the vehicle for the residual amount and need to sell it for that. If you have bald tires, they need to replace them before they can sell the car. If you curbed the rims, they need to replace them. If you have windshield damage, it must be fixed. I keep my cars in good nick and have never been burned. Can't say the same for my wife. I should be picking up my new Leaf in the next few days.
Good luck.
Greg
The benefit of leasing versus buying a Leaf are even greater. As many have already pointed out, the technology will likely be much greater in a few years and we will likely have more vehicles to choose from... like the Fiat 500e or maybe an Infiniti version of the Leaf with power memory seats and power memory tilt and telescopic steering wheel. And with a lease, you get the benefit of the $7500 tax credit up front.
I'm turning in my 2010 Nissan Maxima lease early. Nissan is waiving the last few payments, waiving the termination/disposition fee, and waiving up to $500 excess wear and tear. So do not fear lease end charges.. they are manageable. Lessors do not "try to charge you" money at lease end. They own the vehicle for the residual amount and need to sell it for that. If you have bald tires, they need to replace them before they can sell the car. If you curbed the rims, they need to replace them. If you have windshield damage, it must be fixed. I keep my cars in good nick and have never been burned. Can't say the same for my wife. I should be picking up my new Leaf in the next few days.
Good luck.
Greg
