Average cost to lease the leaf? (Down Payment + Total Monthly payment accross 2 years ONLY)

Hi Guys,

I was reading around the lease section and looked at the 2015 lease thread that was open. It seems that the down payment plus monthly payment fee across a 2 year lease is something like 6 to 7k by the end of the lease.

I was wondering if this is about the normal average you normally see from a leased leaf? I am only asking about the down payment and monthly payment across 2 years.

Also, I believe in california you don't qualify for the 7.5k rebate if you lease, but you can still get the 2.5k rebate. This would bring down the down payment and 2 year monthly payment to something like 4 to 5k? Does this look to be about right?

Also, I am guessing that earlier leases for earlier leaf models years ago were a little cheaper? Like 2011 2012 2013? While the leases offered now cost a little more. Is this also accurate?

NissanLeafCamper said:

I was reading around the lease section and looked at the 2015 lease thread that was open. It seems that the down payment plus monthly payment fee across a 2 year lease is something like 6 to 7k by the end of the lease.

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It can be. Depends on the trim level, equipment level (packages), and allowed annual mileage as well as other factors (e.g. incentives at the time, money factor, your credit rating, etc.)

If I did my math right (have to double check my spreadsheet). My total down payments ($0) + total lease payments were ~$7221 on my 2 year/24K total miles lease on a '13 SV w/both packages. However, I also owe a $395 disposition fee (in the contract) at lease end if I don't lease another Nissan/Infiniti or buy my car at the end. I'm waiting for that bill since I just returned my Leaf at lease end.

NissanLeafCamper said:

Also, I believe in california you don't qualify for the 7.5k rebate if you lease, but you can still get the 2.5k rebate. This would bring down the down payment and 2 year monthly payment to something like 4 to 5k? Does this look to be about right?

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$7.5K is NOT a rebate and has NOTHING to do w/CA. It is a Federal tax CREDIT: https://www.fueleconomy.gov/feg/taxevb.shtml. It goes to the owner. When you lease, you aren't the owner, the leasing company is, so it goes to them.

Re: $2.5K, thats's CVRP: https://energycenter.org/clean-vehicle-rebate-project. You ARE NOT eligible for that unless you buy or lease and in either case, keep for at least 30 months. See https://energycenter.org/clean-vehicle-rebate-project/faqs/how-do-i-know-if-i-can-apply-rebate. So, no.

NissanLeafCamper said:

Also, I am guessing that earlier leases for earlier leaf models years ago were a little cheaper? Like 2011 2012 2013? While the leases offered now cost a little more. Is this also accurate?

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Not really, I don' think. IIRC, '11 lease prices were pretty bad and I think they only offered 3 year leases at the beginning. '12 Leaf had a higher price and forced features: http://www.autoblog.com/2011/07/19/2012-nissan-leaf-higher-price-tag-standard-equipment/. '13 Leaf saw a price cut: http://www.treehugger.com/cars/2013-nissan-leaf-gets-massive-price-cut-6400.html. I didn't follow total lease costs for anything other than the '13 though.

The price of the car factors into the lease cost, but so do other things such as the MF, residual, length of lease, mileage allowed, and any incentives or discounts.

2013 was THE Golden year for leasing a Leaf. They wanted to move a lot of them, and succeeded. My 2 year cost, excepting disposition fee (I may well lease another one, since I'll have VPP as well as the other 'loyalty' perks) was less than $6500 total (with sales tax) for an SV with premium Package, IIRC. My monthly cost will keep dropping the longer I extend the lease. I think it will be something like $185, all-inclusive, after the third year.

LeftieBiker said:

2013 was THE Golden year for leasing a Leaf. They wanted to move a lot of them, and succeeded. My 2 year cost, excepting disposition fee (I may well lease another one, since I'll have VPP as well as the other 'loyalty' perks) was less than $6500 total (with sales tax) for an SV with premium Package, IIRC. My monthly cost will keep dropping the longer I extend the lease. I think it will be something like $185, all-inclusive, after the third year.

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I turned in my Leaf instead of extending it via their offer of 12 months for the price of 10. My outlay (not including $395 disposition fee, which I would have to pay either way) would be another ~$3140. And, the tires weren't going to survive until end of lease, so I'd need to buy new tires for a car I wouldn't have for that much longer. At the end, after spending $3140 + tires, I wouldn't have a car.

My tires at turn in were at an acceptable level, per the AIM inspector who came out.

That's the downside to putting little or nothing down and getting a higher monthly payment. You have no real incentive to extend the lease.

Thanks guys these replies are amazing. I thought could qualify for the CA rebate, but I guess not unless you buy the leased car. Wow, I kept thinking otherwise.

It looks like the bigger down payment you do (Plus good credit) gives you lower monthly payments? Is it also possible to put a bigger down payment and not have any monthly payments for 2 years? If so, what kind of down payment would they ask? 5k?

Probably shouldn't post, 'cause I'm not in CA and not shopping for a lease, but if what's been said about CA offering a hefty incentive to purchasers or lessees who hang onto an EV for 30 months is correct, why would anyone want a non-qualifying 2 year lease?

NissanLeafCamper said:

Thanks guys these replies are amazing. I thought could qualify for the CA rebate, but I guess not unless you buy the leased car. Wow, I kept thinking otherwise.

It looks like the bigger down payment you do (Plus good credit) gives you lower monthly payments? Is it also possible to put a bigger down payment and not have any monthly payments for 2 years? If so, what kind of down payment would they ask? 5k?

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No, you CAN get the $2.5K CVRP (which is changing) if you lease and your lease is 30+ months long. Please re-read https://energycenter.org/clean-vehicle-rebate-project/faqs/how-do-i-know-if-i-can-apply-rebate. Long ago, the minimum was 36 months. At some point, it changed to 30 months.

Yes, bigger down payment = lower monthly payments. Yes, you could pay the whole lease all upfront and have 0 payments. Putting anything down and prepaying is risky because AFAIK, if you total the car, you get nothing back. So, you're better off putting down and paying as little as possible.

With $0 down payment and after paying say 1 month's payments (say $314), you total the car, you just lost $314. If you paid all of it (say ~$7200), and you total it a month in, well, you now lost all the ~$7200.

Levenkay said:

Probably shouldn't post, 'cause I'm not in CA and not shopping for a lease, but if what's been said about CA offering a hefty incentive to purchasers or lessees who hang onto an EV for 30 months is correct, why would anyone want a non-qualifying 2 year lease?

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At the time I leased and for some time before it (not sure about now), a 2 year lease == some average total monthly payment (let's call this $314).

3 year lease total cost minus $2500 == higher monthly average cost than the 2 year (some amount noticeably higher than $314).

For many people, the OEM tires will not survive for the duration of a 3 year/36K mile lease, so you’ll need to also buy new tires for a car that you may no longer have.

For a 2 year/24K mile lease, there’s a reasonable chance that the tires will not be below the tread minimum (to avoid be hit by NMAC).

So, it didn't make much sense to lease for 3 years unless you wanted to pay an higher monthly payments on average + almost 100% certainty of tire expense, even w/the CVRP savings factored in. The $2500 CVRP isn't that hefty and wasn't enough to counteract the other factors.

At the time I leased my car in January 2013, there were just TWO remaining brand new 2012 Leaf SV's in all of Southern California: my Blue Ocean one at Tustin, the other a Cayenne Red one at AutoNation in Hawthorne. (There was reportedly a third one at another dealer, but that turned out to be a lie.) I am confident no more made it over from Japan or the port as the 2013's were released to the public the following month.

On unsold 2012 SV's, Nissan was offering a $199/month x 36 lease special for $1999 down. Including sales tax, first year reg fees, my first born (j/k I don't have kids) etc. my net monthly cost is under $240/month after the CVRP rebate is factored in. Nissan would continue offering this lease special into 2013 but on the definitely de-contented Leaf S.

I agree with cwerdna and put down as little down payment as your FICO score and NMAC will allow. NMAC's lease contracts, at least in California, are worded in such a way as to include Gap Insurance, though you will not find those specific words in the contract (at least in mine it's not worded that way).

NissanLeafCamper said:

I thought could qualify for the CA rebate, but I guess not unless you buy the leased car.

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If you're talking about the used Leaf you just bought, the reason you don't qualify for the CVRP rebate is because it's not a brand new car. However I believe there is legislation being considered that would give incentives to used EV buyers, particularly those on limited incomes.

Not only did I get the CVRP rebate on my leased Leaf relatively quickly, but I just got an email from them approving my rebate for my newly acquired eGolf. A couple of things have changed since 2013 though:

• Effective January 1, 2015, individuals and companies not part of a carsharing system are limited to two CVRP rebates. Any rebates paid before 2015 do not count towards this limit (so I am eligible for one more).
• Because of the outcry about public money subsidizing Tesla purchases and leases, there are now income limits. An individual who makes $250k+ no longer qualifies for any EV rebates except for the $5k towards a hydrogen fuel cell vehicle. However, if you make less than 300% of the Federal Poverty Level, you can get an increased rebate.

cwerdna said:

3 year lease total cost minus $2500 == higher monthly average cost than the 2 year (some amount noticeably higher than $314).

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That does not compute, unless the lender assumes a far higher residual (hope I'm using the term correctly) value at the end of 2 yrs vs. at the end of 3. Otherwise, less money spread out over more months should mean lower monthly payment.

cwerdna said:

For many people, the OEM tires will not survive for the duration of a 3 year/36K mile lease, so you’ll need to also buy new tires for a car that you may no longer have.

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That's a good point. I don't see myself ever shopping for used tires, but I suppose it might be an option.

Levenkay said:

cwerdna said:

3 year lease total cost minus $2500 == higher monthly average cost than the 2 year (some amount noticeably higher than $314).

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That does not compute, unless the lender assumes a far higher residual (hope I'm using the term correctly) value at the end of 2 yrs vs. at the end of 3. Otherwise, less money spread out over more months should mean lower monthly payment.

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I wish I could find the old thread about this, but this has been discussed many times before. Apparently, it seems Nissan assumes a much greater depreciation between years 2 and 3, so a much lower residual on a 3 year vs. 2, leading to a higher overall monthly average cost on the 3 year. This may not have always been true, but it was for some time, and maybe still is.

I guess it makes some sense. At the end of year 3, the 3 year/36K mile basic warranty is gone. What's the value of a used car w/a 11-12 months of the basic warranty left vs. none? Also, there's year more left of the other warranties and a year less calendar loss on the battery.

I don't see myself ever shopping for used tires, but I suppose it might be an option.

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I wasn't happy with the way the OEM Ecopias handled, or with the rumors of blowouts, so I bought a set of Goodyear Eagle L/S tires, new, from an Ebay dealer for about $375 (or maybe it was $275...?) delivered, and sold the Ecopias for $225. I've been satisfied with the Eagles.

LeftieBiker said:

I don't see myself ever shopping for used tires, but I suppose it might be an option.

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I wasn't happy with the way the OEM Ecopias handled, or with the rumors of blowouts, so I bought a set of Goodyear Eagle L/S tires, new, from an Ebay dealer for about $375 (or maybe it was $275...?) delivered, and sold the Ecopias for $225. I've been satisfied with the Eagles.

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Oh wow amazing work! I guess the ecopias were very lightly used? Not new right? that is a great way to up your brand new car. Very smart since the selling of the eco made the new goodyear less costly. Wow, if I eve buy a new car I'm doing your method right away!

Guys, I am still a little unsure, but it does seem like the total cost of a lease is around 4-5k after the CA rebate? Is this still accurate?

NissanLeafCamper said:

Guys, I am still a little unsure, but it does seem like the total cost of a lease is around 4-5k after the CA rebate? Is this still accurate?

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The average would depend on the trim level, allowed mileage and options on the car. A base S is going to be a lot less than a loaded SL. Not sure why you bring up the CA rebate again. A 2 year lease is not currently eligible for CVRP. Lease needs to be 30+ months.

I believe the numbers I gave at http://www.mynissanleaf.com/viewtopic.php?p=431740#p431740 are about right. I had payments of $313.98 (which included tax, license,etc.) * (IIRC) 23 payments + $0 down. That + $395 disposition fee = $7616.54. I just learned today from https://www.facebook.com/groups/184664911551980/ that there could also be sales tax on the disposition fee, so add maybe 9% more to that. Again, mine was a '13 SV w/both packages and after VPP discount.

Someone else at the time here on MNL was helping people out in the Bay Area get deals at a dealer I did NOT like (had bad personal experienecs w/them an 2 others did, as well) and told me privately, I was already getting better than what he could get me.

Oh wow amazing work! I guess the ecopias were very lightly used? Not new right?

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Yes, they had about 5k miles on them. Used Ecopias in very good shape usually sell for $200 a set, but I got lucky.

NissanLeafCamper said:

Thanks guys these replies are amazing. I thought could qualify for the CA rebate, but I guess not unless you buy the leased car. Wow, I kept thinking otherwise.

It looks like the bigger down payment you do (Plus good credit) gives you lower monthly payments? Is it also possible to put a bigger down payment and not have any monthly payments for 2 years? If so, what kind of down payment would they ask? 5k?

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You need to remember that any down payment is gone forever. You total the car you will not be reimbursed. Put as little down as you can to get your best deal.

Just fyi with my experience in the used car market, if you don't insist on being the first one to put miles on the car, is that you can get a SWEEEEEEET deal. Credit unions are practically giving away cash for auto loans and I was able to secure a 1.9% 72 month. Combine that with a sub $10k leaf and you are in the ballpark of $150 without a down payment! You'd probably pay off the car at the same rate it's depreciating, so if you ever wanted to get rid of it, you could sell it private party and have the check go directly to the bank for pay off. You can think of it as a $150/mo rental. If the leaf is replacing a gas car that you'd normally spend $300/mo in gas, you are making money!

happy hunting!

readysetgo said:

Just fyi with my experience in the used car market, if you don't insist on being the first one to put miles on the car, is that you can get a SWEEEEEEET deal. Credit unions are practically giving away cash for auto loans and I was able to secure a 1.9% 72 month. Combine that with a sub $10k leaf and you are in the ballpark of $150 without a down payment! You'd probably pay off the car at the same rate it's depreciating, so if you ever wanted to get rid of it, you could sell it private party and have the check go directly to the bank for pay off. You can think of it as a $150/mo rental. If the leaf is replacing a gas car that you'd normally spend $300/mo in gas, you are making money!

happy hunting!

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I wish I had tried to get a loan with a credit union. Instead I tried US BANK and got declined, but the warehouse seller for the leaf got me a loan... at almost 20% APR! No penalties if paid sooner though.

So 10k SUB (The rebate and federal right?) then the rest on a credit union loan @ 1.9%? No down payment. Now you only pay $150/Month AND got the tittle (Not a lease)? If so, brilliant!

cwerdna said:

The average would depend on the trim level, allowed mileage and options on the car. A base S is going to be a lot less than a loaded SL. Not sure why you bring up the CA rebate again. A 2 year lease is not currently eligible for CVRP. Lease needs to be 30+ months.

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Sorry about that. I did not compute the bit on the months. I guess it is about 7K after all . Makes me wonder if buying used, but still under warranty, leaf would be better? Would a used leaf under warranty depreciate 7k in 2 years???

Also, where can I keep updated on the possibility of being able to get a rebate for a used electric car? That sounds great. I can then buy used under warranty and still get a sweet rebate to boot!

LeftieBiker said:

Yes, they had about 5k miles on them. Used Ecopias in very good shape usually sell for $200 a set, but I got lucky.

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I am definitely following your advice if I do ever lease a car The leaf I got is used and the tires already got 24k miles on them

everestsdad said:

You need to remember that any down payment is gone forever. You total the car you will not be reimbursed. Put as little down as you can to get your best deal.

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Thank you for reminding me. I think my insurance provider told me that leased cars need full insurance coverage. Does all the money go to the bank for the total'ed car?

NissanLeafCamper said:

readysetgo said:

Just fyi with my experience in the used car market, if you don't insist on being the first one to put miles on the car, is that you can get a SWEEEEEEET deal. Credit unions are practically giving away cash for auto loans and I was able to secure a 1.9% 72 month. Combine that with a sub $10k leaf and you are in the ballpark of $150 without a down payment! You'd probably pay off the car at the same rate it's depreciating, so if you ever wanted to get rid of it, you could sell it private party and have the check go directly to the bank for pay off. You can think of it as a $150/mo rental. If the leaf is replacing a gas car that you'd normally spend $300/mo in gas, you are making money!

happy hunting!

Click to expand...

I wish I had tried to get a loan with a credit union. Instead I tried US BANK and got declined, but the warehouse seller for the leaf got me a loan... at almost 20% APR! No penalties if paid sooner though.

So 10k SUB (The rebate and federal right?) then the rest on a credit union loan @ 1.9%? No down payment. Now you only pay $150/Month AND got the tittle (Not a lease)? If so, brilliant!

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Sub $10k used car market no rebates, mostly 2011 and 2012's or high mileage 2013's. It's worth it if you are able to get the credit union loan, car hunt and find a seller willing to go to the bank with you. 20%? or 2.0%?