How Exactly Will The Tax Credit Work

[jhm614]

I need about 22-23K miles per year on the lease. Pre-buying that kind of mileage might get prohibitively expensive. But I'm leary of buying because of advancements that will be made in the 3 years I'd be leasing.

Does anyone have any idea what the annual mileage limitations are likely to be on the lease?

I am in the same boat. I haven't found the lease mileage allowance -- but it will probably be 10 to 12K. I'm still leaning towards the lease. A thumbnail on my gas usage vs. my electricity costs shows about a 50% reduction in my fuel spend. If I roll that back into the lease cost, that would give me an extra $120 or so a month to play with.

[Jimmydreams]

Man, that IS a lot of miles. I've noticed that mileage allowances for all cars on lease seem to have been getting lower in recent years. Used to be pretty much everyone was offering 15k, now the norm seems to be 12k. I have no idea what Nissan is thinking of for this car.

On the plus side....if you do end up keeping her, it doesn't really matter how many miles you put on her. If you don't, paying the excess mileage might be considered good insurance against obsolescence.

I'll wait and see what numbers Nissan comes up with AND what the trade in value of my car is.

I have to drive about 75 miles round trip, 5 days a week, plus extra 'around town' miles. I'm up to 18,500 already in 9 months of my current car. I always tell people 'I didn't buy it to have it sit in the driveway!!' Luckily I'm getting 32mpg average in that car.

[LEAFfan]

So someone like me with 4 kids, and a ton of donations,and a mortgage, who dosent basically pay taxes has no incentives to buy a Leaf. That may kill it for me!

Guipo

BUT, you can lease instead and get the full $7500 tax credit.

[LEAFfan]

No, you'd get the CA rebate as cash (well, check). Problem is, only the first 800 or so Leaf owners who apply for it will get this particular rebate.

From what I've heard, the residual is rumored to be fair as well, if you plan on keeping the car at the end of the lease - $16,000. It doesn't seem to be a bad lease offering, as they go.

So, after you pay your up front fees, then the montly lease payment of $370ish, aft 3 years, they'll sell you the car for another $16K. That's not too bad.

I need about 22-23K miles per year on the lease. Pre-buying that kind of mileage might get prohibitively expensive. But I'm leary of buying because of advancements that will be made in the 3 years I'd be leasing.

Does anyone have any idea what the annual mileage limitations are likely to be on the lease?

My guess would be either 10K or 12K. Most of the ads I've seen for other cars the mileage is 12K.

[Jimmydreams]

My guess would be either 10K or 12K. Most of the ads I've seen for other cars the mileage is 12K.

I hope it's 15K. If it's 12K and I have to prebuy 28K miles at .20/mile will be an extra $150/mo. For that price, I'll look into buying.

We shall see....no one knows the numbers yet, hopefully we'll know more specifics by the end of June.

[evnow]

I hope it's 15K. If it's 12K and I have to prebuy 28K miles at .20/mile will be an extra $150/mo. For that price, I'll look into buying.

Yes - then it becomes better to buy ... though with these many miles, you will be saving more on gas.

[Jimmydreams]

Yes - then it becomes better to buy ... though with these many miles, you will be saving more on gas.

Yes, that is is foremost in my mind. The ONLY drawback I see to buying vs leasing is the improvements in battery technology etc. that will be made over the 3 years of the lease. I'd hate to buy a Leaf v1.0, only to find that Leaf 3.0 goes 400 miles on a charge, charges in half the time, and costs the same.

It will be interesting to see what Nissan has planned for early adopters as far as being able to upgrade the vehicle to newer batteries, etc.

[Guipo]

So someone like me with 4 kids, and a ton of donations,and a mortgage, who dosent basically pay taxes has no incentives to buy a Leaf. That may kill it for me!

Guipo

BUT, you can lease instead and get the full $7500 tax credit.

Yea, you may be right. And if I can still get the CA credit, it may be doable. We'll see!

[Gonewild]

Well I just check my order configuration as they call it. On step 6 it did have the option to add the charger. Wonder how much will it cost more then a sl without it does it add more circuit like a different charger?

[Azrich]

I don't do my taxes. I just don't know much about it.

One simple question: If I do not use the entire $7500 tax credit for my 2010 taxes, does the remainder roll over to future years?

Thanks for your help.