2016 S Lease - Should I do it?

Hi Folks,

New here. Looking at my first lease. This would be our second car which will be used for commuting/around town driving. Any tips are appreciated! Right now I prefer option 3, what are your thoughts? Is this a good deal and is it worth upgrading to the 30kwh?

WA State.

I've got a couple of options:

Option 1:
S 24kwh
MSRP $32,075
Nissan Rebates: $11,625
Dealer Discounts: $6,401
Lease Sales Price after rebate: $14,049
Residual Value: $11,226
24 Month lease
Down Payment: $2,000 (+$150 doc fee, $595 doc fee, I think like another $500 in random fees)
Monthly: $36

Option 2:
S 30kwh (Don't really need the range)
MSRP $33,670
Nissan Rebates: $11,625
Dealer Discounts: $6,452
Lease Sales Price after rebate: $15,593
Residual Value: $11,784
24 Month lease
Down Payment: $2,000 (+$150 doc fee, $595 doc fee, I think like another $500 in random fees)
Monthly: $79

Option 3: PREFERRED OPTION
S 24kwh
MSRP $32,075
Nissan Rebates: $11,625
Dealer Discounts: $6,401
Lease Sales Price after rebate: $14,049
Residual Value: $11,226
24 Month lease
Down Payment: $0
Monthly: $175

Option 4:
S 30kwh (Don't really need the range)
MSRP $32,075
Nissan Rebates: $11,625
Dealer Discounts: $6,452
Lease Sales Price after rebate: $15,593
Residual Value: $11,784
24 Month lease
Down Payment: $0
Monthly: $217

The 30kwh Leaf, even in S trim, will offer better resale value if you are considering buying it. Where do you live, and how much reserve range would the 24kwh have for you?

I live in Seattle, WA.

Since this would be mostly for my commute - 7 miles one way, I don't think I am going to need more range. If I am leasing it, will the 30 kwh make it worth it when I have to return the car? Think I can make money on the lease?

Overall though, would you say this is a pretty good deal?

I'd say that it's a good deal. What do you mean by "If I am leasing it, will the 30 kwh make it worth it when I have to return the car? Think I can make money on the lease?"?
One thing I'd caution: your climate would seem to suggest the heatpump isn't needed, but since you get a lot of cool rainy weather, remember that the S will pull lots of power for the heater every single time you use it, not just in frigid weather. If you don't mind a 50 mile range under some conditions, the 24kwh S should be fine. I'd still get the S-30 so longer trips were doable and so that long-term range was still great.

Your number is wrong in your option #4, I think the MSRP should be $33,670 I'm also a bit confused by your downpayment numbers in options 1 and 2. Is it 2k + the approx 1.3k in other fees or is the 1.3k built into the 2k? IOW is the out of pocket cost at signing 2k or 3.3k?
That said, it looks like the price difference over the 24 month lease to upgrade to the 30kwh battery would be ~$1000.
If you think you'd never really use the extra range and you just planned on just turning the car back in, it would be $1000 wasted. Now if you planned on keeping the car for yourself for a long time it might be worth it but it would cost you ~$1500 total over the 24kwh because of the extra money required at buyout time. IMO if you were going this route it would probably be worth it because not only will the 30kwh battery last you more years but if you sold it several years down the line it would probably be worth at least $1500 more than a 24kwh battery Leaf if you decided to sell it. It all depends on what you need now and what you plan on doing after 24 months. As LeftieBiker said even though you might not use your heat a lot, heat is used during cool weather defrosting and can greatly effect range(although still enough to cover your very modest commute).

I think I understand what you mean by ""If I am leasing it, will the 30 kwh make it worth it when I have to return the car? Think I can make money on the lease?"?
I think you mean will purchasing the 30kwh Leaf at the end of the lease and then selling it allow you to make money and to that I'd say, probably not. Leafs have been chronically worth less at the end of the lease than their buyout value, which is why most people just turn them back in and if they really did like the Leaf they end up purchasing another lease return for much less than the buyout of theirs.
Just curious if you got numbers for 36 or even 48 month leases, 24 months seems like a very short lease, I'm curious how lengthening the lease would affect your numbers, in particular the leases with 0 down at signing.....

Well folks, ended up getting it. At $116/month with no down payment or any other fees!

I feel like this is a pretty good deal. Plus it comes with 2 years of free charging.

What do you all think?

Cheers,
Shinghi

HelloEV said:

Well folks, ended up getting it. At $116/month with no down payment or any other fees!

I feel like this is a pretty good deal. Plus it comes with 2 years of free charging.

What do you all think?

Cheers,
Shinghi

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Which one did you get? S24 or S30? Either way sounds like a good deal. Is that with 12K miles per year?

wow 116 without any downpayment is pretty good. is this for 24 months? that means about 3 grand for 2 years of car use. i'd say a used one would lose value faster than that! I am in the market (also Seattle) for a used leaf right now and I should consider that option.

Which dealership?

Is it only me that feel 116 per month without any down payment is the lowest ever for a lease?

Is there any State incentive for leasing in WA?

HelloEV said:

Well folks, ended up getting it. At $116/month with no down payment or any other fees!

I feel like this is a pretty good deal. Plus it comes with 2 years of free charging.

What do you all think?

Cheers,
Shinghi

Click to expand...

That is an awesome deal! Congratulations!

One thing I noticed that the residual value after 2 years is ONLY $12,000 range! Right now on my 3-year lease, the residual value is close to $13,000 when I return the car next year.

Dealer Doc fees are a joke.

LightningLeaf said:

One thing I noticed that the residual value after 2 years is ONLY $12,000 range! Right now on my 3-year lease, the residual value is close to $13,000 when I return the car next year.

Click to expand...

NMAC has been adjusting residual value downward to more closely reflect the likely real value of the vehicle at end-of-lease.