Trying to decide between leasing a leaf and buying a '13/'14

I've seen '14s going for ~$8-10k USD (10-20k mi). Assuming the battery is certified, it seems like a great deal. I've got a few questions:

• I live in CO, there's supposedly up to $7.5k Federal and up to $6k State tax credits. Does a new leaf qualify for the full $13.5k? Is there any way to get it on a used vehicle? (here is the CO form http://www.nissanusa.com/ev/media/pdf/incentives/nissan-leaf-incentive-114.pdf)
• How do the credits apply to leased vehicles?
• Is there a good way find out average leasing prices and insurance prices for a new leased vehicle and a used vehicle? I've tried edmunds lease calculator (seems way off dealer estimates and doesn't account for tax credits). Do I just have to call around and get insurance/lease quotes?
• Do Nissans 36k/66k/100k warranties apply to any used leaf or do they have to be 'certified pre-owned?'
• What are my options if I buy one? I'd expect to get 70-100k miles out of it before the battery dies. Then what? I'm left with something that's worth less than $1k and needs a $5k battery?
• What type of insurance should I get if I lease one?

Any other resources on other EVs I should consider would be appreciated. I've checked the wiki, done a few searches, and tried reddit. Feel free to just link me reading material if this has been answered. Thanks.

1. Any tax rebates are for new vehicles only.
2. While not positive I believe the tax credit(if you qualify) is taken off the purchase price of the vehicle, you just pay less each month for the Leaf if you qualify.
3. Insurance seems comparable to other vehicles of it's age and value but tabs are crazy high in my state for my Leafs based off retail value(as my state does). I believe they are figuring it off normal vehicle depreciation and not the high Leaf depreciation. For comparison tabs for my '12 Leaf(which I paid $7k for almost a year ago) was $350 and tabs for our '07 Prius(value $4k???) are $45 and will be $35 next year as all cars 10 years or older are $35, regardless of value(AFAIK). Now your state may figure tabs differently but it is something to look into.
4. I believe the 3yr 36k warranty is for everyone, not just certified used Leafs, I know for the 5 year battery warranty it doesn't matter.
5. Yes although I'd imagine by that time batteries may have come down significantly in price, but no guarantee.
6. Your Leasing company will tell you the minimums but Gap insurance is probably a good idea as more than likely if you get into a total accident the value of the vehicle will most certainly be less than what you owe. Without it you will get a check for the current value of the Leaf and will need to come up with the difference between that and what is still owed on the car(assuming the accident was at least partially yours).

Let me tell my experience, then you can make up your mind as to what you would do.

I know I wanted an SV or an SL because of the LED, and the touch screen navigation and radio. I also wanted the QC port and and the LED lights. The leather interior was good, but not needed. The S was out of the question because it is stripped down, IMO. The lizard battery was also a must, so I wanted a build date in the mid 2014 year.

When I went to the dealer I was quoted a figure that added up to just over $16,000 over the three year lease, and I already knew I was going to go over in mileage. So I had to think about the dreaded overage at the end. Then I would be left with a choice to buy it out or leave it at the dealer. Hmm, so after spending $16,000 I am left with nothing???

I started looking for used '15s that had all I wanted, but I wanted to pay less that $15,000. This way at the end of three years I would still have something in my garage. I started searching for low mileage cars, and found a few. Mine had about 8,500 miles. I'll most likely pay for it in two years time, and when my son starts high school I will put a battery in it for him.

My daily commute to work is 60 miles +/-, and I can L2 or DCQC there as needed. Two days a week I drive 120 a day. However, most of my charging is done at home. Beleeeb me, I drive it everywhere.

When I went to the dealer I was quoted a figure that added up to just over $16,000 over the three year lease, and I already knew I was going to go over in mileage. So I had to think about the dreaded overage at the end. Then I would be left with a choice to buy it out or leave it at the dealer. Hmm, so after spending $16,000 I am left with nothing???

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The residuals are now low, so for another $12,000 you can buy the car when the lease ends, for a total cost of $28k. Not as good a deal as buying a 2016 Leaf new, but if you don't qualify for the full $7500 rebate it's worth considering.

I'd tend to think buying is better. You would probably be paying for all that 50% depreciation during your lease cycle anyway. For the lease fees you could just own a used model, which much slower depreciation, and sell it for a few years if you need to.

ParadiseMI said:

I'd tend to think buying is better. You would probably be paying for all that 50% depreciation during your lease cycle anyway. For the lease fees you could just own a used model, which much slower depreciation, and sell it for a few years if you need to.

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If you are sure you want to keep the car, and you qualify for the full tax credit (I don't) then buying is better. If you want options in three years, rather than being stuck with a very depreciated car, or if you don't qualify for most or all of the credit, then leasing is better.

I have seen a number of references to qualifying for the $7,500 tax credit, what do you need to qualify?

You need to have enough taxable income. Can someone post that number? Anyway, the Federal credit is structured so that retired people with adequate savings and income don't qualify for the full credit. There was talk of turning it into a point of sale rebate, which would be great, but it hasn't happened.

oleviking said:

I have seen a number of references to qualifying for the $7,500 tax credit, what do you need to qualify?

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Check your 1040 line 63 for 'total tax'. Greater than $7,500 and you are in good shape to get the full amount.
If you use the vehicle for business and take deductions the amount can be limited.

Otherwise I recommend Leasing and getting the credit from Nissan for the $7,500 as part of the lease concession.
You get a better vehicle, and in three years you turn it in and get something way better and lower cost.
No need to get stuck with an old model and outdated technology and chemistry.

Looks like I have the dealer going to lease me a 2016 SV for $225 per month, with a $1,000 down. Have not seen the figures yet, but that is what his email said.

I have seen posts about paying off the lease early to save money, how exactly does that work? Is it like paying off a car loan early?

Oh well, just got an email saying that the $279 before taxes is the Best they can do on a 2016 SV, no Premium Package. May now be in the market to buy a 14 SV. The search continues.

oleviking said:

Oh well, just got an email saying that the $279 before taxes is the Best they can do on a 2016 SV, no Premium Package. May now be in the market to buy a 14 SV. The search continues.

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Keep in mind that the Lizard pack was supposedly installed in 2014 Leafs built later in 2014, while the earlier builds have the same pack as the later 2013. It isn't a huge difference in cool climates, but in Florida it may make a difference for you. If we knew that Nissan would offer residual discounts on the 2016 SV as the lease ended I'd suggest you get that, but with no guarantee of it that's a pretty steep monthly payment.
IIRC I was offered $301 a month, tax included, for a 2016 SV with Premium.

Decided to go with the 2016 SV, just got home, the GOM is pretty wild, left the dealership with a range of 93, got home 22 miles later with a range of 87. Guess it will get better as it learns my driving habits, go almost 3 trees on the way home down the interstate. Feeling pretty good.