What is the cost of lease vs buying.

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Gonewild

Well-known member
Joined
Apr 28, 2010
Messages
1,262
Location
Chandler, AZ
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.
 
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
 
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
 
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.
 
DaveinOlyWA said:
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.
 
$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
 
DaveinOlyWA said:
$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
 
DaveinOlyWA said:
$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.
 
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!!
 
LakeLeaf said:
DaveinOlyWA said:
$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.
 
DaveinOlyWA said:
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
That doesn't matter at all. Gas prices will not be greater than $4/gallon this coming winter. The lease residual price is written into the contract at the start of the lease. Even if used Leafs were selling at $30K three years later, you could still get yours at the pre-arranged price.

By the way, don't forget the OP's other condition. He's going to lose $1K of his tax credit if he buys. He will, in effect, get that if he leases. I'm guessing that fact alone may tilt the balance toward lease for him.
 
Does a tax exemption still work For a leased vehicle in washington state?
On the 1 hand i can see how it would But then again i can also see how it might not either
 
DaveinOlyWA said:
Does a tax exemption still work For a leased vehicle in washington state?
On the 1 hand i can see how it would But then again i can also see how it might not either

There is specific language in the law which makes it work for lease.
 
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