TreeStar wrote:This terrifies me and is making me think quit a bit. Like that totally blows my mind.
Perhaps a used Prius is a better route.
*EDIT: That's based on a full priced car, not an $18,165 car (rebates).
I ran it and got these figures. Total Cash Price: $30,817. True Cost To Own: $36,694. Depreciation being $22,705. That would tell me depreciation would be in theory only be $7,355. EDIT. Looking at 3 years the rebates essentially pay for the first 2 years of depreciation. The maintenance is also an odd factor on this. I looked at a used Prius and Leaf on this. You pay considerably more than what the car cost.
Do people really pay that little for insurance? I pay $1,314 a year!
This car on a 3 year lease has payments of $151.05 /month. The residual value (Nissan wholesale price) will be $8,714 after the lease.
The calculator isn't at all perfect, and the numbers can change dramatically depending on various factors. Some people pay next to nothing for insurance and others an arm and a leg. Another benefit of buying used (and cheaper initially) is that you can pay off the loan quicker and then go to minimum insurance requirements instead of having to be stuck with paying full coverage for a longer time. Interest is usually higher for used cars, but by paying it off quicker you can end up paying less for interest too. You also pay less taxes on older, cheaper cars.
So far I've heard and read that Leafs are extremely low maintenance and extremely reliable. (1 in 10,000 have had major problems compared to the average 1 in 400 for other new cars.) Prii are also low maintenance and reliable, but the Leaf still beats it IMO, unless you live in a hot area where your battery is going to die young. But that could be just as bad for a Prius as it is for Leaf, although I haven't researched it. As far as regular maintenance goes, no oil changes, no spark plugs, no engine filters, no nothing, ever in a Leaf, except brake fluid and coolant flushes (coolant flush after 150,000miles!). And about the only repair item on the list for the future is the traction battery. No timing belts, no catalytic converters, no O2 sensors, no EGR valves, no thermostats, no EVAP system parts, no rings, no pistons, no bearings (well, maybe bearings), no cam followers and no transmission fluid, solenoids or clutchs. Once these cars have over 200,000 miles on them and the price (hopefully) for traction batteries drops, some people may prefer an old Leaf needing just a battery over another 200,000 mile car that you're not sure if you're going to have change the engine or the transmission or anything else that's a part of an ICE vehicle. Of course we're still not sure how well the EV motor and inverters/chargers/controllers will hold up on our Leafs, but I'd be willing to bet they'll hold up much longer than any internal combustion engine or automatic transmission.
Here's the prices on a 2013 Leaf
and a 2013 Prius Plugin
Leaf: $22,789 over 5 years
Prius Plug: $27,212 over 5 years
Here's the prices on a 2011 Leaf
and a 2011 Prius
Leaf: $19,405 over 5 years
Prius: $23,426 over 5 years