WAY underwater on purchase. Should I lease?

[uwskier20]

I spent a long time struggling with this question. I still owe about $15K on my '11. After going back and forth, I decided to keep it. Firstly, I can charge at work (110V outlets); I used to be able to make the round-trip confidently, but I've decided to plug in here to give myself some cushion. I can probably sustain this commute for decades. I was initially annoyed by having to plug in daily, but the task takes less than 30 seconds - I'll take that over paying for gas, any day.

Secondly, as others have mentioned, I think we've seen the worst of the depreciation (and hopefully battery loss is tapering). I also am waiting to see whether Nissan provides more detail on its Steal-Your-Battery™ program; the outpouring of anger from this forum and elsewhere leads me to hope they may make adjustments.

Finally, and best of all, much better options are not too far off. Tesla's Model E, along with its competing models (whatever they may be), will bring relatively value-priced EVs with sustainable battery capacity and ranges.

 

[Newporttom]

I made my "watch the bars" test run today. Got home on the last bar, with Low Battery Warning (just came on) and 9 miles on the GOM. That's cutting it a little too fine for me.

That was with lights and climate control on. Going 60 on the highway. When we are heading there we are usually pressed for time and need the highway. Plus the "short route" is pretty congested at that time of day. My next run will be to take the "short route" on the way home. It's about 7 miles shorter on 45-50 MPH streets.

 

[Newporttom]

Status Update - I did make another run watching the bars and taking the short way (city streets) home. And I got home with plenty to spare but I also arrived at the ballpark with more bars than I had on my first test run.

It's on my mind again because first game is 9 days away, and I lost my second bar today.

 

[smkettner]

Those last 9 miles will take you close to 20. No need to break a sweat until the next warning and you have about 7 miles at low speed (maybe more?) remaining.
Fun is when you turn the LEAF on showing no bars and GOM is "---" as you head out for a short errand

 

[Newporttom]

So I've made 3 ballpark runs thus far. I've taken the highway at 55 (people hate that even in the slow lane of a 3 lane highway) and then take the city streets home. I'm getting home with 15-17 miles on the GOM. Still within my comfort zone. The city street route is 45 miles Speed Limit and at night there are large stretches with no traffic lights. (and 6 miles shorter).

So, I'm pressing on..... down 2 bars and after Tuesday's payment will be down to about $22,150. Slowly but surely.

 

[Pipcecil]

I have seriously considered a lease. My car is down 3 bars (close to its 4th) with less than 3 years on it. I have gotten the principal down to around 15.5k but I am still "under water" because of the amount of mileage. I have basically resigned to replace the car in 3 more years (2017 maybe 2018) either with a used Tesla Model S (if they become cheap enough), a new Model E (if its out around then), or another EV (like a longer range leaf?). While many might scream - don't do it, you will get a new battery in a month, my wife is about to quite work and go back to school -so we are looking at as many ways as possible to save money and a 3 year lease on a 2014 could reduce the amount.

I keep going back and forth though

- if I get a 2014 I get the faster charger (which I would totally abuse, waiting on 3.3 kW per hour is SLOOOOOW). I get a reduction in monthly payments (depending on many things, it could not be that much...) and I get a new vehicle now with a slightly better range (i.e. heater, electrical systems, and software).

- the counter argument is I will get a new battery soon (in about a month I will qualify) and it will either be a hot battery or I will get a new hot battery later. If I go with the 2014, I will be in the same position in 3 years time (down 3-4 bars). I will also, overall loose long term money with a lease. Paying off my current leaf in 2-3 years will save me more over the long term than doing the lease, but the lease saves money now.

*sigh*

 

[mkjayakumar]

Put a GID meter or LeafDD and that will help you extract last ounce of electron in your battery. Great to manage your driving and extending the range.

 

[Nubo]

I'm assuming you can afford either option or you wouldn't be asking. Go with the one that makes you happy. If you're unhappy with how the car is performing and know it will only get worse, why not trade it in and start with a lease? Is the goal to maximize some numbers on a piece of paper, or to have a tool that's a joy to use?

 

[Pipcecil]

Put a GID meter or LeafDD and that will help you extract last ounce of electron in your battery. Great to manage your driving and extending the range.

Already use Leaf Spy - I do push the car to the limits but there is only so much you can do when my regular commute is 55 miles and I get less out of that at a full charge, around 53 (55 on the most perfect day - which is rare), I actually cannot make it to work and back on a single charge (and that's pushing it to a little above turtle).

New battery can't come soon enough

 

[Stoaty]

- the counter argument is I will get a new battery soon (in about a month I will qualify) and it will either be a hot battery or I will get a new hot battery later. If I go with the 2014, I will be in the same position in 3 years time (down 3-4 bars). I will also, overall loose long term money with a lease. Paying off my current leaf in 2-3 years will save me more over the long term than doing the lease, but the lease saves money now.

I can't imagine why you are considering a lease when you will have a "good as new" Leaf in a month, with the promise of the Lizard battery in the future (unless you get the Lizard battery first as one of the "early adopters"). While it may be more of a stretch in the short term, you will clearly be much better off in the long term by hanging on to your Leaf.

 

[derkraut]

+1 What Stoaty said.

 

[Newporttom]

I know the last reply was to Pipcecil, but I've committed to stay the course and hope there's a lizard battery in my future in about 14 months. Sprung for new tires yesterday, and have discovered a side roads way to get to ballpark and back that leave me plenty of juice for now.

 

[Newporttom]

An update..... it's been a good couple weeks. The alternate backroads way to the ballpark has worked so well that we take the backroads there, and the highway back and still get home within my comfort level. If it starts getting closer I can take backroads home also.

Then 2 weeks ago I yanked $$ out of bank and paid the Leaf off so I'm riding "free" and then Nissan announced the new lizard battery and price. I feel so much better now.

 

[martyv]

That's great, just read through this whole thread, and it's neat to see how this has worked out for you. Congrats on paying off the car, feels super I'll bet!

 

[Newporttom]

As of today, bar #3 is gone at about 38,750 and 37 months. I have a feeling this years trips will be all side roads....

 

[TimLee]

As of today, bar #3 is gone at about 38,750 and 37 months. I have a feeling this years trips will be all side roads....

Way to hang in there.
At least you appear headed towards a capacity warranty battery replacement if you did not opt out.
And likely will be new heat resistant battery from Smryna.
A lot better than the other 95% of LEAF owners that will not qualify

 

[DaveinOlyWA]

As of today, bar #3 is gone at about 38,750 and 37 months. I have a feeling this years trips will be all side roads....

looks like you will make the battery warranty. this will go a long way towards the value of the car

 

[Newporttom]

Today I lost bar #4. Have appt for battery check tomorrow at dealer. We ended up taking our ICE to ballgames this year, but next year will be electric again!!

 

[smkettner]

Nice

Going to love that new battery. I speculate keeping the car will now pay off well for you.