• Aug 30th 2010 at 7:02PM
  • 7

When Nissan rolled out pricing for its Leaf electric vehicle (EV), the lucrative lease rate of $349 a month for 36 months popped out as a rather good offer. Of course, Nissan arrived at those numbers by including a $1,999 down payment, and that number excludes fees charged for tax, title and license. While the deal sounds good, some of us may want to put more money down on the Leaf, lease it for a shorter or longer term, or try to wing one of those zero-down leases. Luckily, Nissan is willing to stray from the $349 a month / 36 month lease option and is open to offering the Leaf on terms that suit your desires.

Nissan has finally revealed the Leaf's residual values, money factors, acquisition fees and all of that other stuff that allows one to calculate individual lease rates. By using any one of the many online lease calculators, you can now punch in the numbers and arrive at a rate that hopefully suits your budget. For example, if you lease the uplevel SL model for 48 months with a down payment of $5,000 and factor in the $7,500 federal incentive, you'd spend around $295 (or less) a month to lease the Leaf. But that's merely one example. Hit the jump to find the numbers you'll need to calculate a personalized lease rate and don't forget to add in any of the Leaf's options that you desire.

[Source: My Nissan Leaf]

Nissan Leaf leasing information

Money Factor :

Tier 0 - 0.00204 (credit score Above 740) i.e. 4.9%
Tier 1 - 0.00224 (credit score 700-739)
Tier 2 - 0.00264 (credit score 660-699)
Tier 3 - 0.00369 (credit score 620-659)
Tier 4 - 0.00454 (credit score 600-619)

SL :

MSRP - 33,720
Dest Charge - 820
Tax Rebate - 7,500
Net Capitalized Cost - 25,571
Down Payment - 1,999 (includes 1st month's lease payment)
Acquisition Cost - 595
Disposition Fee - 395
Mileage - 15,000 per year
Residue
49% (24 months)
44% (36 months)
43% (39 months)
39% (48 months)

SV :

MSRP - 32,780
Dest Charge - 820
Tax Rebate - 7,500
Net Capitalized Cost - 24,441
Down Payment - 1,999 (includes 1st month's lease payment)
Acquisition Cost - 595
Disposition Fee - 395
Mileage - 15,000 per year
Residue
51% (24 months)
45% (36 months)
44% (39 months)
41% (48 months)


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 7 Comments
      • 5 Years Ago
      Second thoughts on difference between buying a Leaf for cash and leasing it with a single upfront payment for the entire lease period. Logically the lease cost in general should be the difference between the price of the car and the residual value, interest, and the acquisition fee. If this is true and you are willing to pay the difference between the price of the car and the residual value at the time of the lease, the only difference between leasing and buying should be the acquisition fee, which is $595 on the SL. All other costs like destination fee and state taxes would be the same whether leasing or buying. Therefore, if you do get the benefit of the full $7,500 federal tax credit by leasing, it should mean that for $595 you get the full tax credit which your own income tax liability might not qualify you for and the right to return the car at the end of the lease period if better batteries are available in newer cars then. If this is true, it makes no sense for anybody to buy but everybody should lease.

      There is another possible hidden cost, the residual value may underestimate the value of the car after the lease period. Therefore you would pay the difference between the residual value and the market value too. On the other hand, if better batteries are developed during the lease period, the residual value may be greater than the market value and you come out ahead.

      While this analysis is based on the way that things should work, there may be other costs associated with a lease that I know nothing about. Therefore I would welcome a response to this analysis from someone with experience in auto leasing.
        • 5 Years Ago
        There is another cost that has been pointed out to me. Since the person who sold you the lease has money tied up in the residual value, he is entitled to a return, call it interest or rent.

        It is not clear to me whether you would also have to pay the $395 disposition fee.

        While leasing is not as good as I originally thought, I am still inclined to think that it is better than buying.
        • 5 Years Ago
        Even if better battery improvements are slow there will still be a whole slew of new EVs released by other manufacturers which will help to reduce new models msrp.
      • 5 Years Ago
      I want to make sure that I undestand this information so I would appreciate responses. In using the payment calculator, does one enter $7,500 for "Customer Cash Rebate"? Is the residue the percentage of MSRP? The online calculator pays a sales tax on the whole MSRP, does this mean that if you buy it at the end of the lease there will be no state sales tax?

      Using the most favorable answers to these questions, making a "back of the envelope" calculation (without double-checking my numbers) it seems to me that leasing may be a better than paying cash if at the time of the lease you make all lease payments in advance. I used a payment of $16,000 for the SL. For $1400 more than if you paid cash and got the full federal rebate of $7500, you have the privilege of giving Nissan back the car in three years if superior batteries become available for new cars then.



      • 5 Years Ago
      Indeed. Odd that the car which has more range goes less miles.

      But it also makes some sense. They have the same lease rate but different purchase prices, so you'd expect there to be some other differences to equal out the leases.
      • 5 Years Ago
      A little step-by-step tutorial would help those of us such as myself, who are not bean counters...
      • 5 Years Ago
      I find it interesting that the LEAF comes with a 15,000 mile/year lease, while the Volt has a 12,000 mile/year lease.
    Share This Photo X