2016 Leaf for $91month. really?

I dare not even call in case I hear one of these
1) "with only 8700 down..."
2) "that is for the junker down the side of the building, not the nice 2016 Nissan leaf, ha ha ha."
3) "come on down and let's go for a test drive and let's see what we can do"
or some other story to deflect the false advertising.

if you click on the link it takes you http://www.timdahlesouthtowne.com/n...DP+Retargeting&utm_term=&utm_content=adamatic

The LEAF pictured has the charge package too. I might bite on their ad...

If you go to that link, it says "LEASE $374/mo".

You can get whatever monthly payment you want, with a large enough down payment. Since it is safest to go with no down payment or a small one, this means little.

bottom of the ad. 10% down. 75 months & 2.9 APR, +OAC, +TTL

LeftieBiker said:

You can get whatever monthly payment you want, with a large enough down payment. Since it is safest to go with no down payment or a small one, this means little.

Click to expand...

I have been through 3-4 leases in my lifetime so far...over the course of them, I have learnt, lower the down payment, the better it is...if the car gets totaled, you intend to transfer the lease in the middle or any such unknown severs the lease, your initial down payment is immediately toast. I would rather make a slightly larger monthly payment, then put any money in as a down payment. In CA, the most popular down payment option these days is $2500, which is equal to the state rebate for EVs, essentially making it a $0 drive off lease...

Phatcat73 said:

bottom of the ad. 10% down. 75 months & 2.9 APR, +OAC, +TTL

Click to expand...

oh yeah, in silver text.. good catch. now i noticed it only after you saw it first. Still hard to read. just a normal smoke and mirrors ads, nothing special.

I still don't get the deal .75 months ,10% down===about 10k

mihird said:

LeftieBiker said:

You can get whatever monthly payment you want, with a large enough down payment. Since it is safest to go with no down payment or a small one, this means little.

Click to expand...

I have been through 3-4 leases in my lifetime so far...over the course of them, I have learnt, lower the down payment, the better it is...if the car gets totaled, you intend to transfer the lease in the middle or any such unknown severs the lease, your initial down payment is immediately toast. I would rather make a slightly larger monthly payment, then put any money in as a down payment. In CA, the most popular down payment option these days is $2500, which is equal to the state rebate for EVs, essentially making it a $0 drive off lease...

Click to expand...

So here is a dumb question (as I'm new to the EV's) - if I were to go into a dealership and try to buy an EV with that kind of government kickback, will the dealer generally consider that as the down payment without me having to go out of pocket? What about the federal tax kickback and all of that?

So here is a dumb question (as I'm new to the EV's) - if I were to go into a dealership and try to buy an EV with that kind of government kickback, will the dealer generally consider that as the down payment without me having to go out of pocket? What about the federal tax kickback and all of that?

Click to expand...

You can get a Leaf for just the Federal credit - which goes to Nissan anyway. I think you have to apply for the CA credit yourself, but I'm not sure - wrong coast. They consider a lease with "just" the $7500 fed credit a "zero down" lease, though. They will do it, but might give you better terms with a small down payment, even $500. Decide how much you want to, or can, risk, since as noted any down payment is lost if the car is totaled.

LeftieBiker said:

So here is a dumb question (as I'm new to the EV's) - if I were to go into a dealership and try to buy an EV with that kind of government kickback, will the dealer generally consider that as the down payment without me having to go out of pocket? What about the federal tax kickback and all of that?

Click to expand...

You can get a Leaf for just the Federal credit - which goes to Nissan anyway. I think you have to apply for the CA credit yourself, but I'm not sure - wrong coast. They consider a lease with "just" the $7500 fed credit a "zero down" lease, though. They will do it, but might give you better terms with a small down payment, even $500. Decide how much you want to, or can, risk, since as noted any down payment is lost if the car is totaled.

Click to expand...

Ah OK, thanks. I'm looking at the Volt too, still reading up on the tech. I like the idea of having the gas backup "just in case", but for as far as I drive at the moment, the Leaf would be ideal.

Here's how it would work in CA..

The $7500 federal tax credit will be taken by Nissan and will be applied to lower their suggested monthly payment. If you agree, they will just make you sign some paperwork at the time of signing the lease which lets them apply for the $7500 instead of you applying.

Assuming you are in agreement with the net $0 drive of offer, dealer will ask for $2500 check as total drive off from you. You write them the check, and most dealers in CA these days take care of also applying for the $2500 state rebate on your behalf as well - after about 6 weeks, you will get a $2500 check from the CA state Air Resources Board...

So the net effect is, you drove off with $0 down, they took care of all the initial setup fees, 1st month lease payment, 1st year registration etc. etc. and you agreed for a set monthly payment (35 payments on a 36 month lease) for the car.

Your total cost of leasing the vehicle is simply put 35 x your monthly lease payment (+ remainder 2 years of registration fees + 1 set of replacement tires as needed + 1 set of wiper blades as needed)

Interesting, that is the dealership I bought my LEAF from! Great guys all around, the LEAF tech there owns a LEAF and knows his stuff!

I got a great deal on their 2015 model since they had to sell some to even get the 2016 LEAF in their stock. LEAFs are really hard to sell in Utah since not many public chargers are available to us and it seems like people are more interested into the Tesla's instead of the LEAF.

You might be lucky to see one other LEAF on the road once a week, while I visited CA and saw them left and right!

The point I am trying to get is, they have trouble selling the LEAFs and they do sell them pretty low if you are in the market of getting one

mihird said:

The $7500 federal tax credit will be taken by Nissan and will be applied to lower their suggested monthly payment. If you agree, they will just make you sign some paperwork at the time of signing the lease which lets them apply for the $7500 instead of you applying

Click to expand...

The first owner of the car gets the $7500 tax credit. When you lease, the owner is NMAC, so they get to claim the federal tax credit. They play fair and pass the savings on to lessees in the form of capitalized cost reduction (CCR, also called "lease cash" or "manufacturers rebate"). Currently, CCR on the 2016 model year is $9625 on the S, $10,450 on the SV, and $10,425 on the SL.

GM, with the 2017 Volt for instance, will only offer a CCR of $4610 on the LT and $4235 on the Premier. They pocket the difference, or apply it on the back end to artificially inflate the residual. This makes lease payments low (raising the residual has a similar effect on lease payments to reducing the capitalized cost). The problem is when you go to buy out the lease, you basically have to pay back that difference.

This is why the LEAF is a very favorable car to lease-to-own. On the SV, for example, you get $10,425 without even having to qualify for the tax credit. If you buy out, it's like having NMAC pay a down payment of $10,425 for you.

The other option is to buy instead of lease. You get $4000 NMAC cash if you finance through them (0% APR for 72 months), plus you get to apply for the $7500 federal tax credit for a total of $11,500 off.