Leased a leaf: $1999 Down, 23 payments $199.

[IIKings920]

I leased a Nissan leaf last night. I had no intention of buying a car but I am literally losing money not going for this deal.

What a fun and entertaining ride!

The national program is $1999 down and $199 a month for 36 months. Nissan will allow you to do the same money on a 24 month lease.

That is on a $29,900 car (mine included mats and splash guards) and the final lease terms include a Nissan rebate of $8100.

If you do the arithmetic $200 a month for 23 months (first month's payment included in the $1999) is $4600 which is added to your $2000 down payment for a total payout of $6600 over 2 years .

There is a federal tax credit (not a tax deduction % based on your income) of $7500 whether you purchase or lease that will come off your 2013 tax bill. IRS form 8936. Federal regulations specifically list "taxpayers who lease" are eligible.

If you owe nothing, you get a $7500 refund and pocket $900 profit on your lease ($7500-$6600).

In short, you drive a car for 2 years and 24,000 miles and pocket $900 in the process. What a country.

Taxes, doc fee, may be up to $1000 depending on where you live.

Considering taxes and documentation fees, title, license, right at a negotiated $1,000, I'm in the red for $100.

INCORRECT INFO IN RED


Additionally, fewer miles on other vehicles adds value to them at trade in.


Leaf got top ratings on all IIHS crash tests.

Regular charging is done on a standard 110/120v home outlet.

A Bosch 240v home charging station (that can charge any EV) can be bought for $450 and about $500 to install makes one eligible for an additional $1,000 tax credit.

What a country.

 

[reeler]

You are double-counting the $7500 from the Feds. Nissan takes that and gives you lease cash instead. You only get the Nissan lease cash.

 

[EVDRIVER]

If you lease the $7500 rebate is already applied to the lease, you don't get the rebate on your taxes, I hope you are not counting on that rebate.

 

[bradbissell]

Slight issue with your math. The $7500 tax credit is already part of your lease. The Nissan credit of $8100 is simply the $7500 + $600. Sorry but nothing is free. You will still be paying $6600 over 2 years.

If you try to get the tax credit, I wish you luck with the IRS. They won't be happy.

 

[TomT]

MPGe - note the e - is largely useless except for comparing the relative efficiency of different EVs... It was a (bad) attempt at trying to compare apples (gasoline) to guavas (electricity)...

Even without fuel savings (which are huge, Leaf is rated at 129 mpg city and 105 hwy)

 

[Klayfish]

First, congrats on the car. You should be excited about it, the car is awesome.

As others said, your math on the rebates and such is incorrect. You can't double dip, you already got all the incentives/rebates when you signed the lease.

And not to burst your bubble, but the $199/month deal isn't a bad one, but you'll find a lot of folks here have gotten significantly better. There's a thread on this forum that has a lot of deal info in it.

 

[DNAinaGoodWay]

Too late, that bubble didn't have a chance.

Hope the salesperson didn't tell you that.

 

[smkettner]

There is a federal tax credit (not a tax deduction % based on your income) of $7500 whether you purchase or lease that will come off your 2013 tax bill. IRS form 8936. Federal regulations specifically list "taxpayers who lease" are eligible.

NO. Have you read 8936 page 3 instructions?

The following requirements must be met to qualify for the credit:
• You are the owner of the vehicle. If the vehicle is leased, only the lessor and not the lessee, is entitled to the credit;

http://www.irs.gov/pub/irs-pdf/f8936.pdf

Please update your original post.

 

[IIKings920]

I had in the back of my mind (based on my sales guy) that the tax credit might go to Nissan which is cool, that's the beauty of a 24 month lease. Cool car either way. I'll post the PDF from the Nissan website that lists lease customers as eligible.

 

[smkettner]

If you owe nothing, you get a $7500 refund and pocket $900 profit on your lease ($7500-$6600).

If you purchase then the $7,500 is only a credit toward the total tax due. If you owe nothing, prepay nothing... you get nothing even with a purchase.

 

[IIKings920]

Here is the Federal PDF from Nissans website. Read "Full Disclosure" and it states Taxpayers who lease are eligible. I also read the part saying that you must purchase. I'll let my accountant figure it out in April and I get what I get, if that's zero then so be it. I'll still enjoy it. http://www.nissanusa.com/ev/media/pdf/incentives/nissan-leaf-incentive-federal-2.pdf" onclick="window.open(this.href);return false;

 

[RonDawg]

The PDF says the "purchaser" is the one eligible to take the credit. With leases, the purchaser is NOT the end user (consumer) but the lessor (bank). For all intents and purposes, you are "renting" your car from the bank for a fixed price over a long term when you lease.

 

[IIKings920]

Proof that if it sounds too good to be true, it usually is.

 

[jelloslug]

Many people here have a 24 month lease for $199 a month without the down payment. (myself included)

 

[IIKings920]

Many people here have a 24 month lease for $199 a month without the down payment. (myself included)

Wow, the national plan right now is as stated but that is great.

 

[EVDRIVER]

Boy don't we all wish we could get that rebate twice and drive for free Stated leases are like MSRP, you get to negotiate if you can.

 

[jelloslug]

Boy don't we all wish we could get that rebate twice and drive for free Stated leases are like MSRP, you get to negotiate if you can.

More like: "Here is your Leaf and here is your check."

 

[stone]

Many people here have a 24 month lease for $199 a month without the down payment. (myself included)

Can you describe your lease deal in more detail? Do you have to pay tax and title ? Are there any other fees?

Thanks.