2018 SL with 45K miles for 20K

DaveinOlyWA said:

Loveleafs said:

Just pulled up my 2020 taxes - 1040 line 24 I have 1826. Looks like leasing or buying used is the better option now. I was really hoping to be able to get something ASAP as my current car is uncomfortable to drive but as I drive so infrequently it seems like waiting it out is the best option. Current car has recurring issues with mold, the AC doesn't work in Florida and occasionally gets *roaches* despite never having food left inside of it. I am eager to no longer be a Volvo owner, lol.

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Yep. definitely lease. I also don't make the full credit (5 time lessee) and found leasing to be a good option. Also Gen 2 batteries (2018 and newer) are proving to be much better quality for longevity. Unfortunately, Nissan still hasn't added custom charge settings so using the timer to limit the SOC will have to do for now.

Because of Nissan dropping the climate package from the S trim, I will be purchasing my lease when the time comes (unless something dramatic happens) still overall estimated cost will be $26,000 for an S Plus. Not too bad considering I turned in my 2018 16 months early. I am sure that probably didn't help the balance sheet (I was 3,000 miles over my allotment)

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I'm on my 61st New car purchase and my 4th Leaf Purchase. My Leafs were 2016 SL, 2018 SV, 2019 SL+ and 2020 SL+. For me purchase made the best option. I've claimed the $7,500 tax credit 4 times for a total of $30,000 less I paid to Uncles Sam. When my 20 month old 2019 SL+ was totaled by an uninsured, suspended license high Meth Head last November State Farm paid me $32,000. I bought a new 2020 SL+ for $38,000 out the door and when you factor the $7,500 tax credit it cost me $30,500, so I put $1,500 in my pocket and got a new car.

Each individual needs to look at their financial situations and make best decisions. Purchase makes sense to some and Leasing to others. The only time I leased was for a Acura RL with an extremely high residual just like this Leaf S deal is. At the end of the lease the ACV of the car was $5,000 less than the residual. I offered to buy it at market value but Acura wanted residual. I walked away,

C'mon folks.

OP is a nice lady of modest means. It is insanity to push her towards a new car, purchased or leased.
Let's hope for her sake that she can hold off until the current used vehicle price craze goes away.

For now:
'Roach poison
A good cleaning of the car. There is food there somewhere
A DIY cleaning of the AC ducts. It may not get rid of the mold completely but it will help

Flyct said:

DaveinOlyWA said:

Flyct said:

Here are the details of the special lease deal on a 2022 Leaf S w/10k miles per year with 10k miles per year.

Excludes taxes, title, and license. $1,449 initial payment required at consummation. (Includes $1,300 consumer down payment, $149 first month payment.) (INCLUDES $1,750 manufacturer's rebate applied to $149/Month lease. Offer valid only when financed through Nissan Motor Acceptance Company.) Subject to residency restrictions. 2022 LEAF S Lease model 17012 subject to availability to well-qualified lessees through Nissan Motor Acceptance Company. $28,350 MSRP incl. destination charge. Net capitalized cost of $24,813 includes a $650 non-refundable acquisition fee. Dealer contribution may affect actual price set by dealer. Monthly payments total $3,576 At lease end, purchase for $21,263, plus purchase option fee up to $300 (except KS & WI), plus tax, or pay excess wear & use plus $0.25 per mile for mileage over 10,000 miles per year. Lessee is responsible for maintenance and repairs. A disposition fee is due at termination of lease term. No security deposit required. Must take delivery from new dealer stock. See participating dealer for details. Offer ends 09/07/2021.

It has a horrible purchase option at the end of the lease (residual) so this is one I would turn back to them.

You would have an honest range of 120 highway - 150 mile city in Florida with the 40 kWh lithium-ion battery. You would not need the climate package in Florida, so you are not going to miss not having Heated front seats and Heated steering wheel. You will need good AC which is awesome on the Leaf.

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Ah, a bait and switch. NMAC is not crediting any of the federal tax credit on this. I would not do this. Its a bad deal.

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Hard to find another better lease deal. Can you point to one? Remember that Florida doesn't have any additional credits like the $2,500 credit for new EVs you have in WA.

I realized that the Fed Tax Credit is not credited and the Residual is outrageous at 75% (21,263/25,350) that is why I said to turn it back in at the end of the lease. It would only cost a buyer a total of about $5000 out of pocket for 24 months.

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Yeah, we don't have that 2500 thing. We do get a partial tax credit that will come close to that though. At 20 cents/mile, it isn't a bad deal but I would have to wait because "normal" deals might be cheaper with more monthly and miles if the OP plans to buy out the car.

It comes down to how long will the cheap leases last? For those with less range needs, I think they will have options in 2 years. For longer ranges, I think the cheap lease train is just about done. Also have to remember that Nissan won't have the Fed cred in two years (expected to start sunsetting early 2023)

SageBrush said:

C'mon folks.

OP is a nice lady of modest means. It is insanity to push her towards a new car, purchased or leased.
Let's hope for her sake that she can hold off until the current used vehicle price craze goes away.

For now:
'Roach poison
A good cleaning of the car. There is food there somewhere
A DIY cleaning of the AC ducts. It may not get rid of the mold completely but it will help

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Agreed. She seems to be a very nice fellow Floridian. . We are just trying to help.

The fact that she is considering a used car with a $26,000 loan from Capitol One, we are just offering alternatives. If she has an average credit rating, a 5 year (60 month) $26,000 loan at 6% is slightly over $500/mo. She would be upside down for at least 3 years and without a warranty.

Right now Capitol One rates for used cars with an “average” credit rating ranges between 6%-9%. Average rates are for those with credit scores between 661-780. Below 660 the rate goes between 9%-14%.

That $149 lease deal for a 2021 S may be moot. I searched and can’t find any in inventory anywhere in the country. She may need to order it.

Good deals on used LEAFs will come again. E.g.,

I bought my 2013 LEAF Model 'S' for $9,000 delivered (but before TTL) early 2017. It will be 5 years in the family come January, and it still has a max range of ~ 80 miles. It is easily good for another 5 years with OP's use case. That works out to

$75 a month for the car, +
$30 a month for cheap insurance, +
$400 for a set of tires (maybe), = $3 a month +
$180 for a good 12v = $1.5 a month
------
$110 a month total cost of ownership

OP may have been pre-approved for up to a $26k loan but that is hardly a good reason to take it. The lease deal that @Flyct posted will reach $350 a month after insurance and taxes, she will have a ~ $650 fee due in 24 short months when she returns the car, and then she will be car-less, vulnerable to whatever scummy dealer she happens to visit.

As I said -- insanity.

Ugh, with my current credit score and location factored in I'm looking at that $149 lease turning to over 400 and financing even more. Carvana is offering me 3K for my freak show of a car even in its current state. I have gotten the mold under control by cleaning the air intakes and the entire car which kept the roaches out as far as I could tell. I put out glue boards and didn't catch anything. Then I went out during a rain storm the other night to get something from the car and there she was, Roachelle, staring at me from the now mold-free driver's seat. the car that started this discussion was being offered to me with financing for 320 or something a month with my trade in, the 15K car is more like 220. I'm just starting to make semi decent money and am lucky to have low expenses but 320 was pushing it for me tbh. Am ordering roach bait, my bf "recharged" the AC (polyamory, not cheating; he thinks there might be a clog fwiw messing up the ac) and I'm going to keep my eyes peeled for a low priced, higher mileage, full bars Leaf on Carvana just in case :3 thank you all for your input! It has been wildly helpful.

No way you want 1st gen.

2nd gen 2018 or later is a must.

Also, SV or SL is a must.

2018 SL with 45K miles for 20K is not a great bargain, but if otherwise it is a clean car I would definitely consider it.

I bought a 2018 SV with 14K miles for $15K on Feb 1st, and am thoroughly pleased.

In retrospect I should have paid another 2K to 3K for an SL.

Your deal is not as sweet, but times being as they are, it does sound like a decent deal.

Seems, at least in some markets, that used car prices are starting to come down. Carvana prices do though still seem high for Leafs.

Just purchased a 2018 SL with the Technology Package with only 14K miles for 20K from a Nissan dealer in CA.

Did cost me an additional $600 to have the car shipped to me in AZ.

Wouldn't be eligible for the Federal tax credit so buying new wasn't an o[tion.

Car was nicely prepped and basically looks like new.

Very happy with it so far.