Nissan Leaf Lease

Nissan Leaf Review

When the Nissan Leaf is introduced in December of 2010, it will be the first, fully electric car introduced to the United States that you can drive for 200 miles without using a drop of gas. Unlike the highly anticipated Chevrolet Volt, the Nissan Leaf uses no gas at all - only electric. In fact, if you took your Leaf to a Maintenance shop they wouldn't know what to do with it. The Nissan Leaf has no exhaust, uses no oil, has no starter, pistons, alternator, etc.  About the only thing in common the Nissan Leaf shares with gas powered cars is the steering and brakes.  Even though, the Nissan Leaf has not been released for sale, Nissan has already established a preliminary leasing offer and a suggested Manufacturers Retail Price of around $32,400.

Does it Pay to Lease a Nissan Leaf?

The Nissan Leaf requires the installation of a special power receptacle to your home garage for charging its high-powered battery. This is a pretty good indication that you should consider a Leaf only if you're looking for a commuter car that will be parked in your garage where it can be charged every evening. That being the case, you can roughly calculate how much a Leaf will save you in gas. If you are driving an average of 10,000 to 12,000 miles a year, you can expect to save about $1,400 to $1,700 per year ($116 to $142 per month). Additional savings are available to you in credit from the state and federal governemnt. The federal Tax Credit can be as high as $7,500 and additional tax credits vary by state. For Colorado as example, the Tax Credit is up to $6,000. Assuming, you get 100% of the tax credit, you can get as much as $13,500 (between Federal and State) off the price of a $32,400 car. Check with your state and IRS before you make any solid assumptions about how much you will really get back from leasing a Nissan Leaf.

The Nissan Leaf Lease Offer

That said, Nissan is offering a $349.00 a month, 36-month lease of the Nissan Leaf based on a $7,500 tax savings Capital Cost reduction. The savings goes directly to the lender which in turn nets you the $349.00 payment. Furthermore, a $1,699 initial cap-cost reduction is required at leas siging. The other major additional expense required is the installation of the Battery Charging Station in your garage. The government will also give you a tax credit of up to 50% or maximum of $2000 for installation of an electric charging station in your home. That tells me that the charging center could cost as much as $4,000. Assuming you lease the Nissan Leaf for $349.00 and $1,6999 down, put another $2,000 into the Charging Station, your net payment averages out to around $455.00 per month. However, you will be saving about $125.00 a month on gas, so you're back to leasing a car for around $330 per month. If you're starting to get the idea that leasing an electric car is not as affordable as buying one, you're probably on the right track. Buying an electric car will cost you around $22 Grand, assuming the discounts from Federal and State plus the additional net cost of the Charging Station. Your monthly payment on that $22,000 car will be greatly offset by the $125.00 a month you will be saving in gas. Buying an all-electric car like the Nissan Leaf makes more sense than leasing one.

A Better Car Lease Idea

You can lease a Honda Civic Hybrid for just $270 a month and no money-down for 36 months. Refer back to our August Car Lease Specials. While the Civic does use gas, it will still save you a substantial amount of money at the pump over a car that averages, say, 20MPG in the city. Calculating that you will cut your gas bill in half, the Honda Civic should save you about $60-$65 a month in fuel. That gives you a Net Lease Payment of around $205.00 per month. That just happens to be about the same monthly payment you can get on a non-Hybrid, Civic Car Lease which gets substantially better than 20MPG in the city. There's your gas savings. If it makes you feel better to save money at the pump, go with the Civic Hybrid. Otherwise, stick with the Regular, 2010 Civic and get a very economical car at the lowest monthy payment possible and leave the Leaf behind.

Econcomy Car Finance Showdown

Check back with Monthly Car Lease often for the latest information on the Nissan Leaf.

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Tagged with: Electric Car Leases • Leasing Electric Cars • Nissan Leaf Review

Filed under: Car Leasing • Featured Car Lease

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