Newbie question

[Epi117]

We are looking to buy 2013 Leaf, not sure of model yet and not sure of buy versus lease, but leaning strongly to lease after reading hours worth of forum posts.

So i contact Costco and was referred to a nissan dealer. I asked via email about the process since the car hasn't come out yet.

This the dealer response to my email

"Yes, I can get you a new Leaf SL. Yes, they can be purchased or leased. What are you reading that makes the lease appealing to you? If you do want to lease, I will need to know how long you choose to lease for, how many miles a year you drive, and how much money you are planning on putting down. This information, along with your credit score, will determine what your monthly payments will be.

I am available 7 days a week from 10 am to 7 pm by appointment. When would you like to stop by?

I look forward to working with you.

I have never leased a car before, i have already been approved by my credit union for a load if i don't lease. My question is? Does anything in the email raise any concerns. From reading on the forums my impression was you don't want to put too much down on a lease, is this correct? My credit is super.

Any and all advice is appreciated.

 

[kentuckyleaf]

We didn't put anything down on our lease, and have 15000 miles a year. Now we are running close to the 15000 miles a year, but if you go over it's only 15 cents a mile, which is still less than the cost of gas in our 4Runner. We will not fully understand the ramifications of the lease until we return the car. I ain't scared

 

[MrIanB]

We are looking to buy 2013 Leaf, not sure of model yet and not sure of buy versus lease, but leaning strongly to lease after reading hours worth of forum posts.

So i contact Costco and was referred to a nissan dealer. I asked via email about the process since the car hasn't come out yet.

This the dealer response to my email

"Yes, I can get you a new Leaf SL. Yes, they can be purchased or leased. What are you reading that makes the lease appealing to you? If you do want to lease, I will need to know how long you choose to lease for, how many miles a year you drive, and how much money you are planning on putting down. This information, along with your credit score, will determine what your monthly payments will be.

I am available 7 days a week from 10 am to 7 pm by appointment. When would you like to stop by?

I look forward to working with you.

I have never leased a car before, i have already been approved by my credit union for a load if i don't lease. My question is? Does anything in the email raise any concerns. From reading on the forums my impression was you don't want to put too much down on a lease, is this correct? My credit is super.

Any and all advice is appreciated.

Test the car first. What is your daily round trip mileage so we can help you regarding leafs true range?. Negotiate best price and then let them know you want to lease for that amount or buy the car. If you buy, you need to file taxes and ensure you have $7500 liability to get it all. If you lease the $7500 goes into the lease as a down payment. Other option is to go w their lease offers online.
Good luck and let us know the outcome.

Ian B

 

[Epi117]

Thanks for advice, 3 days aweek we drive max 10 miles, twp days a week 55 miles. Weekends less.

I think we are going to go with lease offer online, we can always buy it at end of least. Salesman stated he should have some cars in march.

 

[MrIanB]

Thanks for advice, 3 days aweek we drive max 10 miles, twp days a week 55 miles. Weekends less.

I think we are going to go with lease offer online, we can always buy it at end of least. Salesman stated he should have some cars in march.

With that amount of driving, you may charge only charge 2-3x per week but once you drive the Leaf you will find any excuse to drive it more. Lol

Ian B

 

[planet4ever]

Thanks for advice, 3 days aweek we drive max 10 miles, twp days a week 55 miles. Weekends less.

Yeah, that's what they all say. It turns out that for us, and many others, a 50 mile Sunday afternoon pleasure drive is a new way to enjoy life.

In my opinion the biggest argument for leasing is that three years from now EVs are going to be waaaay better even than they are now. Well, unless you live in a really hot climate, in which case the biggest reason for leasing is that four years from now you might find it very difficult to make a 55 mile trip in the old 2013 LEAF you rather foolishly purchased, and equally difficult to sell it for a decent price.

Ray

 

[surfingslovak]

All fair advice. Here's another angle on what Ray said above: until Nissan announces their battery replacement program, along with retail pricing, leasing is the only way to control the TCO. You can always buy out the lease, if you wish, and several forum members have done that in the past. Yes, the cost will be a bit higher than a direct upfront purchase, but I would argue that it's well worth paying to give yourself some options down the road. Look at that expense as your personal EV insurance. Leasing is not that much different from a purchase, and there are many sites that can help learn the ropes. Several spreadsheets simulating various lease terms have been developed, but I'm not aware of one that would reflect Nissan's current deals. Much like with an outright purchase, it's important to understand all the numbers built into the contract, and verify that everything checks out before signing.

 

[FredinNY]

Hi.
The timing of your post is perfect. I also have been thinking about a 2013 purchase. I've never liked leases...especially if you're in a position to finance a car through other means. Naturally leases are more expensive than purchasing, and rightly so. I don't begrudge anyone a profit...as long as it's a fair profit.

In this particular case leasing has more of an appeal than usual for the same reasons mentioned here in the forum. Improvements in battery technology (or lack of) can give you the option of walking away from the car after the lease ends.

In my area of New York Nissan has been offering a 36 month lease for $199 per month. The advertised lease is on a S Model (17013). I spent a few hours the other day trying to take the information posted about this lease deal, and transferring it to an Excel amortization I have for mortgages. The formulas are the same for a lease as a mortgage...so it has to work if you have all the available information.

I'm not certain if I can post them here, but if possible I'll attach two PDF's below. The first is the Nissan lease offer that was advertised on their website. The second is my lease amort schedule. The analysis may be off a bit, but I don't believe it's off by much. I couldn't account for about $520 from the price of the vehicle...down to the capitalized costs, so I must have missed something.



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If you'd like to see the actual excel file, let me know. We could make arrangements to get it e-mailed to you. If you see anything wrong with the analysis, please let me know. I'd appreciate the correction.

Good luck
Fred

 

[LEAFfan]

One thing that you need to add is the tax that you have to pay on the $7500. That will increase your monthly payment.

 

[DNAinaGoodWay]

See: http://www.mynissanleaf.com/viewtopic.php?f=23&t=11245" onclick="window.open(this.href);return false;

But, always offer them less, most buyers are still avoiding Leafs, so if you really want one, you'll find a dealer who'll make you a better deal to move one, buy or lease.