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johnr
Posts: 884
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Leaf Number: 2151
Location: Exeter, CA

Re: Nissan Leaf Leasing Information

Sun Aug 29, 2010 1:58 pm

@Tango: If you lease, you get the $7500 credit rolled into the lease price - Nissan earns the tax credit and passes it on to you. This makes the lease particularly attractive if you don't owe enough taxes to be able to take full advantage of the tax credit.
My trip to Mineral King and the value of regen

Charging stations, electrical adapters, and portable CHAdeMO quick chargers

2011 upgrade: Fossil < Leaf. 2014 upgrade: Leaf < imiev. 2017 upgrade: imiev < tesla. Done upgrading.

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

Sun Aug 29, 2010 2:01 pm

Tango wrote:Why do you say that?
Because that is what happened when I bought my RAV4-EV with a Federal Tax Credit in 2002. Alternative Minimum Tax (AMT) kicked in and limited my available tax credits.

As johnr says, leasing gets around both the AMT and/or too low tax liability issues.

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Ready2plugin
Posts: 672
Joined: Tue Jul 27, 2010 8:08 am

Re: Nissan Leaf Leasing Information

Sun Aug 29, 2010 2:38 pm

Dav wrote:
Tango wrote:Why do you say that?
Because that is what happened when I bought my RAV4-EV with a Federal Tax Credit in 2002. Alternative Minimum Tax (AMT) kicked in and limited my available tax credits.

As johnr says, leasing gets around both the AMT and/or too low tax liability issues.
I though I heard that the tax credit was not subject to AMT. Anyone have any details on this?

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planet4ever
Posts: 4674
Joined: Sat Apr 03, 2010 9:53 pm
Delivery Date: 02 May 2011
Leaf Number: 1537
Location: Morgan Hill, CA, south of San Jose

Re: Nissan Leaf Leasing Information

Sun Aug 29, 2010 10:21 pm

Ready2plugin wrote:I though I heard that the tax credit was not subject to AMT. Anyone have any details on this?
I'm not a tax attorney, but it looks like you are right. Looking at 2009 forms and instructions, the $7500 credit is requested using Form 8936 and reported on line 53 of Form 1040. I see nothing in Form 8936 or its instructions referring to AMT, and nothing in the AMT instructions saying to exclude line 53 or Form 8936.

One thing 8936 does clearly state is that no part of the credit can be carried over to another year. I think that question has come up before on this board, and that was the agreed on conclusion.
End of April 2013: Traded my 2011 SL for a 2013 S with charge pkg.

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Visual
Posts: 71
Joined: Wed May 05, 2010 3:26 pm
Delivery Date: 26 Jun 2015
Location: El Dorado Hills

Re: Nissan Leaf Leasing Information

Mon Aug 30, 2010 1:24 pm

Anybody heard what Nissan will do about the CA state tax credit of $5000? Will they treat it the same way as the Fed, i.e. apply it towards cap cost reduction, or do we have to claim it ourselves?
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Sacto area.

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

Re: Nissan Leaf Leasing Information

Mon Aug 30, 2010 1:29 pm

Visual wrote:Anybody heard what Nissan will do about the CA state tax credit of $5000? Will they treat it the same way as the Fed, i.e. apply it towards cap cost reduction, or do we have to claim it ourselves?
Claim it yourself.
1st Leaf : 2/28/2011 to 5/6/2013
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Volt : 3/25/2017 to 5/25/2018
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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

Mon Aug 30, 2010 1:34 pm

I'm thinking of a last minute switch to lease. The cost of a 3 year lease after the buyout is only $2200 over buying @ 2.9% for 60 months, and a payment of $644 a month with $2k down ($680 a month with $0k down) vs. the $412 (tax included) lease payment.
2011 Blue Ocean SL with 86,000 miles
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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

Mon Aug 30, 2010 1:49 pm

That's my current thinking, mwalsh. Then when I get the CA rebate, stick it in the bank and use $140 a month (5,000 / 36) to "lower" my monthly lease payment so it has less impact on my usual budget.

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johnr
Posts: 884
Joined: Sun May 02, 2010 2:08 pm
Delivery Date: 11 May 2011
Leaf Number: 2151
Location: Exeter, CA

Re: Nissan Leaf Leasing Information

Mon Aug 30, 2010 1:58 pm

Visual wrote:Anybody heard what Nissan will do about the CA state tax credit of $5000? Will they treat it the same way as the Fed, i.e. apply it towards cap cost reduction, or do we have to claim it ourselves?
That $5000 is a rebate, not a tax credit. If you buy or lease an electric car, you're eligible for it. You just submit the required paperwork and then you get a check in the mail :)
My trip to Mineral King and the value of regen

Charging stations, electrical adapters, and portable CHAdeMO quick chargers

2011 upgrade: Fossil < Leaf. 2014 upgrade: Leaf < imiev. 2017 upgrade: imiev < tesla. Done upgrading.

JustinC
Posts: 117
Joined: Mon Aug 30, 2010 2:18 pm
Delivery Date: 06 Sep 2011
Location: Lost Angeles

Re: Nissan Leaf Leasing Information

Mon Aug 30, 2010 2:27 pm

It's a rebate, even for lessees? That's great news!

I was already planning on leasing instead of buying for the following reasons, but that just sweetens the deal.

1. First release of new product with new technology. History tells us that first run cars often have flaws, and we will be may be beta testing the car for Nissan. I don't want to own a beta product, and no one else does. So when I go to resell it in 3 years, I expect it to depreciate a lot.

2. I didn't lease my last car because I didn't want to be tied down by mileage limits, so we can take road trips as we please. Not an issue with a car with 100 mile range. I'll be driving this less than 6000 miles a year.

3. I only want the Leaf because it is the first EV to market that looks solid and affordable. I fully expect to upgrade to a better EV in 3 years when there are more options. Maybe a Tesla Model S if I can afford it. If not, maybe a Ford Focus, Coda or something else American.

4. Even if I did plan on keeping the car longer than 3 years, the batteries are going to degrade over time, so I'd rather not shoulder that depreciation.

5. Owning a car means thinking about resale all the time. That means the kids, dogs, etc need to be careful with their ice cream, paws, etc, and I better not have an accident that damages the title.
2011 Black LEAF
Jan 1, 2013 Status = [15 months] [6K miles] [12 Bars]

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