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Gonewild
Posts: 1262
Joined: Wed Apr 28, 2010 5:05 pm
Delivery Date: 18 May 2011
Leaf Number: 229
Location: Chandler, AZ

What is the cost of lease vs buying.

Thu Jul 22, 2010 10:19 am

How much more does the car cost to buy the car after the 36 month lease then to buy it straight out? Figure it with that I would only get about $6,500 of the $7,500 tax credit. Thank if some can explain leases for me.
Over 25,300 miles Plus - Now Sold/ Lease given back to Nissan 8-25-2012
Ordered Glacier Pearl Nissan Leaf SL eTech Edition on 8/31, Delivered March 1, 2011
POWERED By SunPower 5.16kw PV Solar home 3 Solar water panels.
Reserved 4/20

JasonT
Posts: 509
Joined: Sun Apr 25, 2010 8:42 am
Location: AZ

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 10:30 am

I believe everyone is waiting to find out what the "residual" is before this can be answered. This has been discussed in a couple of places - here's one:
http://www.mynissanleaf.com/viewtopic.php?f=4&t=755

DaveinOlyWA
Posts: 14691
Joined: Sat Apr 24, 2010 7:43 pm
Delivery Date: 16 Nov 2019
Leaf Number: 319862
Location: Olympia, WA
Contact: Website

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 10:42 am

well if leasing at what?? $349 a month or so? or was it $379? we go high
so $4500 a year or 13,644.

with 3 years wear and tear and presumably some better EV options out in 2014, we can say market value of leaf would drop from $32K to around $20?? if residual payoff is $20 k give or take a few grand, then the lease would be a great option.

now if the lease terms are

1)very restrictive on mileage
2) has residual payoff of $25,000 +

then buying would be better.


but, that all assumes that gas is not greater than $4 a gallon because if it is, any EV on the market will be on a 6 month waiting list and used vehicles will not be selling for $20K, they could be $30K or more
2011 SL; 44,598 mi, 87% SOH. 2013 S; 44,840 mi, 91% SOH. 2016 S30; 29,413 mi, 99% SOH. 2018 S; 25,185 mi, SOH 92.23%. 2019 S Plus; 7059.6 mi, 95.35% SOH
My Blog; http://daveinolywa.blogspot.com" onclick="window.open(this.href);return false;

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mwalsh
Posts: 9739
Joined: Thu Apr 22, 2010 10:10 am
Delivery Date: 05 Jan 2011
Leaf Number: 0213
Location: Garden Grove, CA

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 10:49 am

We have speculated a residual of $16,000 before today. We don't, of course, know if that is anywhere near close to being correct.

Oh, and BTW, it looks like PenFed (the Pentagon FCU) has the sweetest deal going on new car financing right now - 100% financing @ 2.99% for up to 60 months. That only adds a couple of grand to the $33k price tag of a SL. You don't need to be military or government to join, you can spend $20 and join an affiliated organization.
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

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LakeLeaf
Posts: 1424
Joined: Mon Jun 07, 2010 4:15 pm
Delivery Date: 04 Aug 2018
Location: South Lake Tahoe, California

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 11:34 am

DaveinOlyWA wrote:well if leasing at what?? $349 a month or so? or was it $379?
I believe it was $349/month for the base model and $379/month for the SL

Also note that other articles on the subject have stated that these leasing prices include the federal tax credit already - you don't get a $7500 tax rebate if you lease at these rates - at least according to what's been written.

DaveinOlyWA
Posts: 14691
Joined: Sat Apr 24, 2010 7:43 pm
Delivery Date: 16 Nov 2019
Leaf Number: 319862
Location: Olympia, WA
Contact: Website

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 11:38 am

$16,00 residual? is less than the purchase price. hmm, to be honest with ya, i have never leased a car before so i dont know how it works. if that is the case, i dont see why everyone would not lease.

its less money up front, less money overall.

but then again, right now interest rates are so low, maybe buying is still the way to go
2011 SL; 44,598 mi, 87% SOH. 2013 S; 44,840 mi, 91% SOH. 2016 S30; 29,413 mi, 99% SOH. 2018 S; 25,185 mi, SOH 92.23%. 2019 S Plus; 7059.6 mi, 95.35% SOH
My Blog; http://daveinolywa.blogspot.com" onclick="window.open(this.href);return false;

User avatar
LakeLeaf
Posts: 1424
Joined: Mon Jun 07, 2010 4:15 pm
Delivery Date: 04 Aug 2018
Location: South Lake Tahoe, California

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 11:44 am

DaveinOlyWA wrote:$16,00 residual? is less than the purchase price. hmm, to be honest with ya, i have never leased a car before so i dont know how it works. if that is the case, i dont see why everyone would not lease.

its less money up front, less money overall.

but then again, right now interest rates are so low, maybe buying is still the way to go

(I agree that $16,000 seems too low)

Wouldn't these be the numbers to Nissan:

$350 * 36 - lease payments
$2000 - down payment
$16,000 (or more) for residual
$7500 - federal tax credit
_____________________
$38,100 total

(retail price: ~ $33,500)

net - ~ $4600 to Nissan
Last edited by LakeLeaf on Thu Jul 22, 2010 4:24 pm, edited 1 time in total.

User avatar
mwalsh
Posts: 9739
Joined: Thu Apr 22, 2010 10:10 am
Delivery Date: 05 Jan 2011
Leaf Number: 0213
Location: Garden Grove, CA

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 11:51 am

DaveinOlyWA wrote:$16,00 residual? is less than the purchase price. hmm, to be honest with ya, i have never leased a car before so i dont know how it works. if that is the case, i dont see why everyone would not lease.

its less money up front, less money overall.
Uh, uh! Don't forget to factor in that this is AFTER the $7,500 tax credit (so that would be $26,220 for the SL). $2000 out the door, $13,265 in payments, $16,000 residual = $31,644 for that same SL.
Last edited by mwalsh on Thu Jul 22, 2010 1:28 pm, edited 1 time in total.
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

DaveinOlyWA
Posts: 14691
Joined: Sat Apr 24, 2010 7:43 pm
Delivery Date: 16 Nov 2019
Leaf Number: 319862
Location: Olympia, WA
Contact: Website

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 11:55 am

oops, forgot about the down payment. adjust all my figures $2000 accordingly.

ahh!! all this speculation is really making it harder for me to wait!!
2011 SL; 44,598 mi, 87% SOH. 2013 S; 44,840 mi, 91% SOH. 2016 S30; 29,413 mi, 99% SOH. 2018 S; 25,185 mi, SOH 92.23%. 2019 S Plus; 7059.6 mi, 95.35% SOH
My Blog; http://daveinolywa.blogspot.com" onclick="window.open(this.href);return false;

IBELEAF
Posts: 1235
Joined: Wed Jul 07, 2010 5:23 pm
Delivery Date: 06 Apr 2011
Location: Seattle, WA

Re: What is the cost of lease vs buying.

Thu Jul 22, 2010 1:04 pm

LakeLeaf wrote:
DaveinOlyWA wrote:$16,00 residual? is less than the purchase price. hmm, to be honest with ya, i have never leased a car before so i dont know how it works. if that is the case, i dont see why everyone would not lease.

its less money up front, less money overall.

but then again, right now interest rates are so low, maybe buying is still the way to go

(I agree that $16,000 seems to low)

Wouldn't these be the numbers to Nissan:

$350 * 36 - lease payments
$2000 - down payment
$16,000 (or more) for residual
$7500 - federal tax credit
_____________________
$38,100 total

(retail price: ~ $33,500)

net - ~ $4600 to Nissan
as far as I was told down payment includes first month payment. In any case if these numbers are somewhat reality I would rather not pay $4k premium to Nissan and resell the car or keep it longer.
Currently: '12 Volt (12k) since 7/2012
Previously: '11 Leaf SL (w/ 12k miles & 16 month ownership)

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