User avatar
evnow
Moderator
Posts: 11480
Joined: Thu Apr 22, 2010 11:41 am
Delivery Date: 25 Feb 2011
Leaf Number: 303
Location: Seattle, WA

2011, 2012 Nissan Leaf Leasing Information

Thu Aug 26, 2010 9:08 pm

Update for MY2012 :

WA 2012 : https://docs.google.com/leaf?id=0B1CIl2" onclick="window.open(this.href);return false; ... k&hl=en_US

This is for WA. Change the License fee, state tax % etc for your state. Note that the Net Capitalized Cost I get is some $300 more than what Nissan says. We have to wait for more lease details to correct that.

Following information is for MY2011 :

Spread Sheets for Calculation

CA specific sheet (no iteration needed) : https://spreadsheets.google.com/ccc?key" onclick="window.open(this.href);return false; ... y=CImg7-0B

WA specific excel sheet (no iteration needed) : https://docs.google.com/leaf?id=0AlCIl2" onclick="window.open(this.href);return false; ... ist&num=50

CA specific excel sheet (iteration needed) : https://docs.google.com/leaf?id=0B-DGAX" onclick="window.open(this.href);return false; ... y=CJGC1McG

WA specific excel sheet (iteration needed) : https://docs.google.com/leaf?id=0B1CIl2" onclick="window.open(this.href);return false; ... ist&num=50

note : Need to download and use excel for the iterative sheets, google docs doesn't work. Enable iterative calculation in Excel. (In Office 2010 file->options->formula).

If you don't have access to MS Office - you can use SkyDrive (http://explore.live.com/windows-live-skydrive" onclick="window.open(this.href);return false;) to edit the spreadsheet in the browser. Use the following simple steps.

Code: Select all

Download the spreadsheet of interest to local storage
Login to SkyDrive or create a free account if you don't have one
Once in SkyDrive select add files and then select a folder to use
Select choose file and navigate to the spreadsheet from local storage and select it
Select Upload and once the file is uploaded select Edit in browser by mousing over the file name
You should see converting document briefly and then have the spreadsheet open and available for editing
Lease Facts

Money Factor :

Tier 0 — 0.00204 (credit score Above 740) i.e. 4.9%
Tier 1 — 0.00224 (credit score 700-739)
Tier 2 — 0.00264 (credit score 660-699)
Tier 3 — 0.00369 (credit score 620-659)
Tier 4 — 0.00454 (credit score 600-619)

SL :

MSRP - 33,720
Dest Charge - 820
Tax Rebate - 7,500
Net Capitalized Cost - 25,521
Down Payment - 1,999 (includes 1st month's lease payment)
Acquisition Cost - 595
Disposition Fee - 395
Mileage - 15,000 per year
Residue
49% (24 months)
44% (36 months)
43% (39 months)
39% (48 months)

SV :

MSRP - 32,780
Dest Charge - 820
Tax Rebate - 7,500
Net Capitalized Cost - 24,441
Down Payment - 1,999 (includes 1st month's lease payment)
Acquisition Cost - 595
Disposition Fee - 395
Mileage - 15,000 per year
Residue
51% (24 months)
45% (36 months)
44% (39 months)
41% (48 months)

Check this thread for different mileages etc. : viewtopic.php?f=23&t=1056
15k mi yr. 12k available with a 1% residual increase. 595 aquisition. 10 cents mile if you buy up front, 395 disp fee.
Lease vs Buy

Here is the thread comparing lease vs buy financially : viewtopic.php?f=4&t=1640&start=0
1st Leaf : 2/28/2011 to 5/6/2013
2nd Leaf : 5/4/2013 to 3/21/2017
Volt : 3/25/2017 to 5/25/2018
Model 3 : 5/10/2018 to ?

User avatar
mwalsh
Posts: 9753
Joined: Thu Apr 22, 2010 10:10 am
Delivery Date: 05 Jan 2011
Leaf Number: 0213
Location: Garden Grove, CA

Re: Nissan Leaf Leasing Information

Fri Aug 27, 2010 6:46 am

Do we know what the lease payments are on the 48 month lease?
2011 Blue Ocean SL with 86,000 miles
2015 pack on 12/30/15
Tinted windows
Bosch AGM 12v
Ecopia 422+ tires
L1 EVSE upgrade
FIAMM horns
Superbright LED lighting
2013 sun visors
LED shifter
Heated seats
GT-R map lamp lenses
Altima illuminated door switches

User avatar
evnow
Moderator
Posts: 11480
Joined: Thu Apr 22, 2010 11:41 am
Delivery Date: 25 Feb 2011
Leaf Number: 303
Location: Seattle, WA

Re: Nissan Leaf Leasing Information

Fri Aug 27, 2010 7:55 am

mwalsh wrote:Do we know what the lease payments are on the 48 month lease?
See the other thread. I think 48 months payments are there. Or you can use an online payment calculator. I'll post the lease payments for various combinations later ...
1st Leaf : 2/28/2011 to 5/6/2013
2nd Leaf : 5/4/2013 to 3/21/2017
Volt : 3/25/2017 to 5/25/2018
Model 3 : 5/10/2018 to ?

Clippy
Posts: 227
Joined: Tue Jun 08, 2010 7:32 pm
Delivery Date: 07 Apr 2011
Leaf Number: 0823

Re: Nissan Leaf Leasing Information

Fri Aug 27, 2010 8:24 am

Thanks!

Do you have information concerning the details of a "one payment" lease arrangement?

No matter how I crunch the numbers, it seems if you take out a lease, pay off all 24 or 36 monthly payments at once (including tax), then pay the residual plus tax and the acquisition fee, the car still costs you net about $28K. Even if I have to repay Nissan for their initial use tax payment and license fees, it's still under $31K.

What am I missing here? Other than the $7500 in federal tax credit, of course.
100% Elektrisch, 100% BMW, 100% Fruchtbar

User avatar
evnow
Moderator
Posts: 11480
Joined: Thu Apr 22, 2010 11:41 am
Delivery Date: 25 Feb 2011
Leaf Number: 303
Location: Seattle, WA

Re: Nissan Leaf Leasing Information

Fri Aug 27, 2010 8:36 am

Clippy wrote:What am I missing here? Other than the $7500 in federal tax credit, of course.
Exactly. If you paid cash it would cost you 32K+tax-7,500 = 25k+tax. With all this lease manuever you would pay more than 25K+tax. But if you can't get the 7.5K tax for some reason, this might be a good idea.
1st Leaf : 2/28/2011 to 5/6/2013
2nd Leaf : 5/4/2013 to 3/21/2017
Volt : 3/25/2017 to 5/25/2018
Model 3 : 5/10/2018 to ?

User avatar
mwalsh
Posts: 9753
Joined: Thu Apr 22, 2010 10:10 am
Delivery Date: 05 Jan 2011
Leaf Number: 0213
Location: Garden Grove, CA

Re: Nissan Leaf Leasing Information

Fri Aug 27, 2010 9:02 am

I went thought leasing vs. purchase. On a SL model I got 36 month lease....$31,876, 48 month lease....$34,274. That's including down, payments, residual, destination, and acquisition. But not including taxes, registration, doc fee, and options. Of course, it assumes buying out at the end.

For the same with purchase thru my CU @2.9% I got $28,600 over 36 months and $29,600 over 60 months. That's MSRP and destination, minus FTC. Again plus sales tax, registration, doc fee, and options.
2011 Blue Ocean SL with 86,000 miles
2015 pack on 12/30/15
Tinted windows
Bosch AGM 12v
Ecopia 422+ tires
L1 EVSE upgrade
FIAMM horns
Superbright LED lighting
2013 sun visors
LED shifter
Heated seats
GT-R map lamp lenses
Altima illuminated door switches

User avatar
evnow
Moderator
Posts: 11480
Joined: Thu Apr 22, 2010 11:41 am
Delivery Date: 25 Feb 2011
Leaf Number: 303
Location: Seattle, WA

Re: Nissan Leaf Leasing Information

Fri Aug 27, 2010 10:15 am

Easiest way to compare is to use the money factor equivalent interest rate. Sine the best rate is 4.9% - if you can get financing for less than that, you would be better off buying. Infact, since lease has some additional costs like acquisition fee, even if the finance rate is slighlty higher, it would still be the better option.

Lease is better if
- You can't get 7,500 tax credit for some reason
- You want to buy a new car in 3 or 4 years, but don't want the hassle of selling used Leaf or the risk of a low used value for Leaf

The various calculations comparing the buy vs lease tells us how much is the "convinience" of leasing is costing us in terms of dollars.

ps : The average rates in bankrate and other places seems to be much higher than what people can get in their credit unions. My CU gives 3.4% - bankrate average is 6.22%.

http://www.bankrate.com/funnel/graph/De ... ine&eco=-1
1st Leaf : 2/28/2011 to 5/6/2013
2nd Leaf : 5/4/2013 to 3/21/2017
Volt : 3/25/2017 to 5/25/2018
Model 3 : 5/10/2018 to ?

User avatar
mwalsh
Posts: 9753
Joined: Thu Apr 22, 2010 10:10 am
Delivery Date: 05 Jan 2011
Leaf Number: 0213
Location: Garden Grove, CA

Re: Nissan Leaf Leasing Information

Fri Aug 27, 2010 11:27 am

evnow wrote:My CU gives 3.4% - bankrate average is 6.22%.
I say my CU. My CU is actually Penfed, and their new car financing is a pretty good deal. Anyone can become a member, even if non-government or non-military, by joining the National Military Family Association ($20 fee).

https://www.penfed.org/howToJoin/overview.asp
2011 Blue Ocean SL with 86,000 miles
2015 pack on 12/30/15
Tinted windows
Bosch AGM 12v
Ecopia 422+ tires
L1 EVSE upgrade
FIAMM horns
Superbright LED lighting
2013 sun visors
LED shifter
Heated seats
GT-R map lamp lenses
Altima illuminated door switches

Dav
Posts: 275
Joined: Tue Apr 20, 2010 5:19 pm
Delivery Date: 26 Jun 2015
Location: San Diego, CA
Contact: Website

Re: Nissan Leaf Leasing Information

Fri Aug 27, 2010 11:38 am

Ooh ooh... are we threadjacking this to a "my credit union is better than yours" thread? I wanna play!

Orange County Teachers Credit Union (now "SchoolsFirst" - stupid name change) is offering 2.99%
http://www.schoolsfirstfcu.org/promos/1 ... efault.asp

But I'm in the "probably cannot take the full $7500 credit" boat, so I'm seriously considering leasing now.

Tango
Posts: 37
Joined: Wed Aug 18, 2010 3:40 pm
Delivery Date: 08 Apr 2011
Leaf Number: 000895
Location: Mountain View, CA
Contact: Website

Re: Nissan Leaf Leasing Information

Sun Aug 29, 2010 12:11 pm

Dav wrote: But I'm in the "probably cannot take the full $7500 credit" boat, so I'm seriously considering leasing now.
Why do you say that?
Red '11 Leaf SL, 33000 miles, 11 capacity bars
Electric Motorcycle owner (home conversion: http://electriceptor.wordpress.com" onclick="window.open(this.href);return false;), 3000 miles
Zapino Electric Scooter owner
I see a trend here...

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