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justindri

New member
Joined
Apr 18, 2016
Messages
2
We bought our first electric car last week

2016 Nissan Leaf SV, Ocean blue on the color
20 miles upon delivery

$35K sticker, paid $33K in the end
Needed the tax credits so we couldn't take those off the price
However, Nissan offered us 0% interest for 72 months!

Really love the car so far. I have 19 miles each way if I only go to the office. However, I travel around the city of Pittsburgh and surrounding area quite a bit. Lots of charging infrastructure around so not too worried about range. Very happy with the purchase.
 
What I mean is one of my main reasons for buying the car was for the $7500 tax credit and the $2000 PA rebate. Some people use those to lower the price of the car,but I am actually going to take advantage of the tax credit on my 2017 tax return with the IRS.
 
justindri said:
What I mean is one of my main reasons for buying the car was for the $7500 tax credit and the $2000 PA rebate. Some people use those to lower the price of the car,but I am actually going to take advantage of the tax credit on my 2017 tax return with the IRS.
Click to expand...

The only way to lower the price by taking advantage of the fed. tax credit is to lease a car. If you purchase you pay the full negotiated price and get your money back when you file your taxes for the previous year, keep in mind you can only use it against your actual tax liability, that is if your tax liability say $5,000 for the year you're filing your taxes you only get $5,000 back from the IRS, not the full $7,500. iirc this credit cannot be spread over 2 or more years. This is the reason people who don't have enough tax liability to fully benefit from this credit prefer to lease, in which case Nissan gets the credit and owner gets lower monthly payments due to the lowered lease purchase price.

I hate to say this, but I think you overpaid with only $2k off the sticker price. Nissan is desperate to move these cars, and you should have been able to negotiate a much better deal on a purchase.
 
justindri said:
2016 Nissan Leaf SV ... $35K sticker, paid $33K ...
Click to expand...

Valdemar said:
I hate to say this, but I think you overpaid with only $2k off the sticker price. Nissan is desperate to move these cars, and you should have been able to negotiate a much better deal on a purchase.
Click to expand...

How much lower do you think the cash price for an SV should be? I would compare it with the 2017 Volt; with a sticker of $34k. Seems like the local dealer is advertising $33k to $37.5k for a loaded gen2 Volt Premier. Presumably, that doesn't include taxes and vehicle registration, but it is the sticker price, and $32k seems within range for a cash purchase.

I did a websearch and the local Nissan dealer has a 2016 Leaf SV for $28600. I think all 2016's include the 30kwh battery.
 
BernieTx said:
justindri said:
2016 Nissan Leaf SV ... $35K sticker, paid $33K ...
Click to expand...

Valdemar said:
I hate to say this, but I think you overpaid with only $2k off the sticker price. Nissan is desperate to move these cars, and you should have been able to negotiate a much better deal on a purchase.
Click to expand...

How much lower do you think the cash price for an SV should be? I would compare it with the 2017 Volt; with a sticker of $34k. Seems like the local dealer is advertising $33k to $37.5k for a loaded gen2 Volt Premier. Presumably, that doesn't include taxes and vehicle registration, but it is the sticker price, and $32k seems within range for a cash purchase.
Click to expand...


i paid a little over 25k + tax and tags for 2016 sv.
 
Valdemar said:
justindri said:
What I mean is one of my main reasons for buying the car was for the $7500 tax credit and the $2000 PA rebate. Some people use those to lower the price of the car,but I am actually going to take advantage of the tax credit on my 2017 tax return with the IRS.
Click to expand...

The only way to lower the price by taking advantage of the fed. tax credit is to lease a car. If you purchase you pay the full negotiated price and get your money back when you file your taxes for the previous year, keep in mind you can only use it against your actual tax liability, that is if your tax liability say $5,000 for the year you're filing your taxes you only get $5,000 back from the IRS, not the full $7,500. iirc this credit cannot be spread over 2 or more years. This is the reason people who don't have enough tax liability to fully benefit from this credit prefer to lease, in which case Nissan gets the credit and owner gets lower monthly payments due to the lowered lease purchase price.
Click to expand...
Unfortunately the year I bought my Leaf I ran into that limitation :( My tax liability was only $5K so like you said I could only claim $5k. Still better than nothing but I hated leaving $2500 on the floor and I didn't realize with a lease it could be spread out. Actually I thought with a lease you forfeited the credit all together.....little did I know.
 
BernieTx said:
justindri said:
2016 Nissan Leaf SV ... $35K sticker, paid $33K ...
Click to expand...

Valdemar said:
I hate to say this, but I think you overpaid with only $2k off the sticker price. Nissan is desperate to move these cars, and you should have been able to negotiate a much better deal on a purchase.
Click to expand...

How much lower do you think the cash price for an SV should be?
Click to expand...

Depending on where you are, and based on various sources I'm guessing 8k or better discount (before any federal or local incentives) is out there with Nissan financing, and afaik 0% interest for 72 months on a good credit deal is still active.

Here is a local web price, $4k off to begin with:

http://www.costamesanissan.com/new/Nissan/2016-Nissan-Leaf-1d180d380a0e0ae8582ae431d324dd67.htm
 
Valdemar said:
justindri said:
What I mean is one of my main reasons for buying the car was for the $7500 tax credit and the $2000 PA rebate. Some people use those to lower the price of the car,but I am actually going to take advantage of the tax credit on my 2017 tax return with the IRS.
Click to expand...

The only way to lower the price by taking advantage of the fed. tax credit is to lease a car. If you purchase you pay the full negotiated price and get your money back when you file your taxes for the previous year, keep in mind you can only use it against your actual tax liability, that is if your tax liability say $5,000 for the year you're filing your taxes you only get $5,000 back from the IRS, not the full $7,500. iirc this credit cannot be spread over 2 or more years. This is the reason people who don't have enough tax liability to fully benefit from this credit prefer to lease, in which case Nissan gets the credit and owner gets lower monthly payments due to the lowered lease purchase price.

I hate to say this, but I think you overpaid with only $2k off the sticker price. Nissan is desperate to move these cars, and you should have been able to negotiate a much better deal on a purchase.
Click to expand...

If the 33K is an OTD price that includes taxes and license and such, its not that bad. Puts the car at 23.5K with rebates and credits factored in.
 
babonbangke said:
We paid $28.2k OTD for 2016 SV last month. This was with NMAC $4k cashback factored in, but before the federal tax credit.
Click to expand...

Not fair! :(. You live in Washington State where there's no sales tax on most EVs.

I bought a $38,000 MSRP 2015 SL with Premium package (Bose + 360 camera) on November 4th, 2015 for $27,000 plus tax. Back then NMAC cash was $5,000 plus additional dealer discount of $6,000. I had to pay sales tax on $32,000 since the NMAC cash is Figured in as a down payment per Florida law.
 
Flyct said:
babonbangke said:
We paid $28.2k OTD for 2016 SV last month. This was with NMAC $4k cashback factored in, but before the federal tax credit.
Click to expand...

Not fair! :(. You live in Washington State where there's no sales tax on most EVs.

I bought a $38,000 MSRP 2015 SL with Premium package (Bose + 360 camera) on November 4th, 2015 for $27,000 plus tax. Back then NMAC cash was $5,000 plus additional dealer discount of $6,000. I had to pay sales tax on $32,000 since the NMAC cash is Figured in as a down payment per Florida law.
Click to expand...

Wow, that's an even better deal than ours! IIRC, the MSRP on ours was around 35K. The interesting thing was, the NMAC cashback was only available with financing (and not with outright cash purchase), but they were giving away 0% 72-month loan with that.

Yeah, we made sure we got an EV under $35K to qualify for the sales tax exemption :)
 
speedski97 said:
Easy! He toke the 0% instead of the $4K back. it is a good deal if he thinks it is. I am glad to see the $4k or 0% is everywhere.
Click to expand...

The weird twist in the NMAC logic is it is not either or, but it's both or none. You get the 4k rebate if you finance with them at 0% if you qualify, or you don't get it at all if you don't finance. There's also a separate 4k incentive available that is stackable with the finance cash, the difficult task is finding a dealer that is willing to pass both onto you.
 
Valdemar said:
The weird twist in the NMAC logic is it is not either or, but it's both or none. You get the 4k rebate if you finance with them at 0% if you qualify, or you don't get it at all if you don't finance. There's also a separate 4k incentive available that is stackable with the finance cash, the difficult task is finding a dealer that is willing to pass both onto you.
Click to expand...

Agreed, the NMAC logic is just strange all around. I didn't realize the separate 4k incentive. THAT would really make for a great deal.
 
babonbangke said:
Valdemar said:
The weird twist in the NMAC logic is it is not either or, but it's both or none. You get the 4k rebate if you finance with them at 0% if you qualify, or you don't get it at all if you don't finance. There's also a separate 4k incentive available that is stackable with the finance cash, the difficult task is finding a dealer that is willing to pass both onto you.
Click to expand...

Agreed, the NMAC logic is just strange all around. I didn't realize the separate 4k incentive. THAT would really make for a great deal.
Click to expand...

I think you got both without knowing it, or most of it anyway, I see no other explanation for the $28.2k OTD price on a 2016 SV with $35k+ MSRP, even if you didn't have to pay the sales tax.

The 2015 deal mentioned above was at the end of last year, there was $10k in total rebates from Nissan, 5k finance and 5k purchase, apparently the dealer was extra motivated to move the Leaf so they coughed up another grand on that deal.
 
Valdemar said:
speedski97 said:
Easy! He toke the 0% instead of the $4K back. it is a good deal if he thinks it is. I am glad to see the $4k or 0% is everywhere.
Click to expand...

The weird twist in the NMAC logic is it is not either or, but it's both or none. You get the 4k rebate if you finance with them at 0% if you qualify, or you don't get it at all if you don't finance. There's also a separate 4k incentive available that is stackable with the finance cash, the difficult task is finding a dealer that is willing to pass both onto you.
Click to expand...

Actually my deal with a $6000 dealer discount plus $5000 NMAC cash required that I finance at standard NMAC rates, not 0%. The $6000 dealer discount would have only been $4000 if I took the 0%.

I took the max discount, financed with NMAC at 5.99% and paid off the loan as soon as I got a loan number from NMAC, which took about a week.
 
Flyct said:
Actually my deal with a $6000 dealer discount plus $5000 NMAC cash required that I finance at standard NMAC rates, not 0%. The $6000 dealer discount would have only been $4000 if I took the 0%.

I took the max discount, financed with NMAC at 5.99% and paid off the loan as soon as I got a loan number from NMAC, which took about a week.
Click to expand...

I see. There were several reports at the end of 2015 that I have no way to confirm that people were getting $10k off MSRP and 0% financing for 72 months, this correlated well with incentive information published say on kbb.com $5k purchase + $5k finance, 0% financing would still qualify you for that $5k even if it didn't make sense. Sounds like the dealer made some extra $$$ by signing you up on that 5.99% loan and was able to share some of that money with you.
 

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