Lease vs cash vs finance?

[LeafMan1960]

I'm in the process of purchasing a 2021 Leaf SL Plus. A question I have is seeing how fast Leaf's depreciate does make sense to lease vs. purchase?

Also I live in northeast USA. I would be putting about 6k miles/year on do I need to worry about battery degradation in the next 10 years?

Any help is greatly appreciated

 

[LeftieBiker]

Try these, especially the first one.

https://mynissanleaf.com/viewtopic.php?f=23&t=28265&p=552346

 

[SageBrush]

Make sure you have enough income to use the full tax credit also. Nothing burns more than the IRS telling you that only half or 3/4 of your tax credit can be applied to your filings... :evil:

Fairly certain that the only way you wouldn’t get the full tax credit is if you’re subject to AMT, which few people are, and if you are, you almost certainly know it. You’d need lots and lots of creative deductions to be subject to AMT.

It’s a tax credit, not a deduction.

BAAAD information.

The Federal EV tax credit is **non-refundable**, which means that a taxpayer must have at least $7,500 of tax liability to fully use the entire tax credit. The EV credit can only be applied in the tax year the car was bought -- no spreading of the credit across tax years.

Example: If the tax liability is between 0 - 7,500, the EV credit will reduce the tax owed to zero.

Note, this has nothing to do with tax pre-payments

 

[LeftieBiker]

Indeed, there are lots of people - like my housemate and I - who aren't eligible for the full $7500 credit on purchase. In our case it's because we are retired. In my case leasing makes sense, because along with getting a trial period with the car, we also get much more in financing assistance, and that makes up for the somewhat higher cost of first leasing, and then buying the car off lease.

 

[LeafMan1960]

Thanks for the help!

 

[RonSwanson]

Just want to note that the $89/mo lease deal that Nissan was advertising hard on their site, is smoke and mirrors (in SoCal at least). I've called a ton of dealers and for the most part no one has 2022's yet, and if they do, or are expecting some soon, they say they can't honor the $89/mo deal "due to a hot market". I was offered a 2021 Leaf S for $149, which is not a 2022 S for $89/mo.

 

[LeafMan1960]

I ended up leasing $400/month SL Plus. Didn't want to risk battery degradation issues. Plus it's my first EV.

 

[Triggerhappy007]

I ended up leasing $400/month SL Plus. Didn't want to risk battery degradation issues. Plus it's my first EV.

If you're leasing, you don't have to worry about degradation issues since you're returning the car after 2-3 years.

 

[LeftieBiker]

If you're leasing, you don't have to worry about degradation issues since you're returning the car after 2-3 years.

I believe that that was his point.

 

[Triggerhappy007]

If you're leasing, you don't have to worry about degradation issues since you're returning the car after 2-3 years.

I believe that that was his point.

I see he meant degradation issues if purchasing, lol.

 

[LeftieBiker]

This way he gets to try the car out for the lease period, and can still buy it if he loves it and degradation is minimal. Much less risk, a somewhat higher purchase cost...

 

[DaveinOlyWA]

This way he gets to try the car out for the lease period, and can still buy it if he loves it and degradation is minimal. Much less risk, a somewhat higher purchase cost...

Works for me! I am likely to purchase my S Plus. Not enough reason to upgrade and my pack is projected to cover over 95% of my need w/o public charging for 12 to 16 years based on early projections and no, I will not keep the car anywhere near that long.