Looking at leases on 2018 Nissan Leaf electric car: how do they...

Looking at leases on 2018 Nissan Leaf electric car: how do they stack up?
by John Voelcker, Senior Editor
01/28/2018

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This past Tuesday, the 2018 Nissan Leaf—an entirely redesigned second generation of the pioneering electric car—officially went on sale in the U.S.

It's quicker and has more features than its predecessors, not to mention a significantly longer range: 151 miles combined, according to the EPA, versus 107 miles from last year's Leaf.

With cars arriving at dealerships come lease deals, which are especially important to electric-car drivers.

DON'T MISS: 2018 Nissan Leaf electric car gets 151-mile EPA range rating

That's because roughly four out of five new battery-electric vehicles are leased rather than purchased, according to recent data from Bloomberg New Energy Finance.

Friday, an article from CarsDirect looked at Leaf leases and considered whether they represent good value against competitors.

Dealers will offer a lease on the base 2018 Leaf S model with monthly payments of just $229 per month, but it requires a down payment of $3,979—an effective cost of $331 per month.




The recommended retail price on that model is $30,875, and the lease covers 12,000 miles of driving a year for three years.

CarsDirect cites bulletins from Nissan noting monthly lease payments on the Leaf S are reduced by "factory lease cash" of $9,275, at least through February 5.

The mid-level Leaf SV and top Leaf SL carry similar incentives of $7,500 and $7,900, respectively.

READ THIS: 2018 Nissan Leaf: early Leaf driver's impressions (he has a Tesla too)

The minority of shoppers who choose to purchase a 2018 Leaf electric car rather than lease it can take advantage of 0-percent financing for 72 months, but are not eligible for the factory rebates offered on leases.

So how do these first lease offers on the new 151-mile Leaf stack up against competitors?

No other mass-priced electric car comes in at 150 miles of range; a slew of models offer 100 to 125 miles, and then the Chevy Bolt EV offers 238 miles for a list price $7,000 higher.




(The standard version of the Tesla Model 3, at 220 miles, isn't yet in production and likely won't be available to anyone who hasn't already put down a deposit for several months to more than a year.)

Last year's Leaf, with 107 miles of range, came in at an effective cost of $285 a month, and the 110-mile 2018 Kia Soul EVe can be leased for an all-in cost of $235.

CHECK OUT: 2018 Nissan Leaf: does it pioneer the 'mid-range' electric car?

Depending on demand for the updated Leaf, lease deals are likely to evolve as it rolls out to all Nissan dealers across the country.

Meanwhile, "for the money, we consider the 2018 leaf a pretty good deal if you're leasing," CarsDirect wrote. "But it definitely isn't cheap."

Their full article offers more details on competitors, effective lease pricing, and finance details.