Credit Card Center Advertiser Disclosure†
06-28-2017 04:10 AM
So I was researching a 2017 nissan leaf and came across a dealership offering an SV model for 19k. The internet person even sent me the listing and said this is my advertised price. So I take it to the dealership and test drive, not bad ride. I read all the fine print with a magnifying glass before I got there to see what was really to this. After a test drive, we now talk money figures. He says by the way, that advertised price included a $7500 tax break which you claim at the end of the year. So the deal was, 10k off MSRP of 34k or so which dosen't sound bad and could maybe eat up some negative equity but then I researched and saw that this vehicle can drop up to 12k in value the first year if not more! Needless to say, I walked away! It's the old saying, If it sounds to good to be true, it's not true!
06-28-2017 04:46 AM
The precipitous drop in short term value for electrics is due to slight long term battery degredation and the reality that the used market bakes in the tax credit to the depreciation figure. Without the tax credit, depreciation is only 4.5k; a pretty palatable figure. Most electric drivers are leasing at this point which lets the leasing company deal with the tax credits, depreciation, battery degredation, and lets the driver step up to newer technology at the lease expiration.
06-28-2017 05:07 AM
I would only lease a battery electric vehicle, but you would need to do a Total Cost of Ownership comparison for lease vs. buy to make a decision. From a simplified perspective, compare the cost to keep the Leaf for 6 years if you buy and to go through 2x3 year lease terms. I'm willing to bet that the lease comes out cheaper and provides a significantly better experience over the 6 year period.
07-04-2017 05:44 AM
I don't recall but sorry if you came by and wasted your post again, bottom line I walked away and it cost me an inquiry. Now at the last day of the month, the dealer has been calling constantly. Electric cars as stated looses too much value for me and I'm not good at even keeping my cell phone charged!!
07-09-2017 01:06 AM
Not a chance would I buy a Nissan Leaf, Nissan is having a terrible time selling them and they deprecite more than any car sold (that I know of at least). A car with a 40k MSRP sells for 12k 2 years and 12,000 miles later. Better to buy one used or just lease one and let them take the depreciation risk. If you buy you will be upside down immediately desipite the discounts and incentives. Generally you can lease one of these for about 200 a month.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.