Leasing cost speculation

[pointlomadave]

Looking at the Nissan LEaf lease offer right now...

$1999 down, $199 for 36 mo, 16,700 residual.

$2000 down
$7200 36 payments
$16,700 residual
---------
$25,700 and dealer retains $10k worth of incentives and used to lower lease costs.

So, Seeing that the Smart's MSRP is approx $7k less than this Leaf lease MSRP (approx $32,500), I would have to expect that the payments will be far lower, with a lower or 0 down payment, lower monthly payments and of course, a far 1lower residual. IMO, leasing cost when factoring in CA's and federal rebates of $10k total, should put the lease at closer to $139 a mo, 0 down, and a $12,800 residual or so.

So...

$1k down
$3,600 36 payments @ $99
Residual of $14k
-------------------
$18,600 and Dealer retains $10k tax credits in CA. It makes sense to me!

In the end, the residual HAS to make some sense, meanig it will be around $my estimate give or take a grand. If the lease is a rip-off, I WILL buy the car flat out, or finance if there are attractie rates.

[dbennett]

Right now there's a 36-month lease special of $199/mo with about $1300 down for a Passion Cabriolet, which has about the same sticker price as the ED after the $7500 tax credit.

So I doubt we'll see a lease on the ED coupe for much less than the gasoline-powered convertible. (Unless Smart offers incentives to move them, as Nissan appears to be doing.)

[MB DNA]

Originally Posted by pointlomadave

So, Seeing that the Smart's MSRP is approx $7k less than this Leaf lease MSRP (approx $32,500), I would have to expect that the payments will be far lower, with a lower or 0 down payment, lower monthly payments and of course, a far 1lower residual. IMO, leasing cost when factoring in CA's and federal rebates of $10k total, should put the lease at closer to $139 a mo, 0 down, and a $12,800 residual or so.

So...

$1k down
$3,600 36 payments @ $99
Residual of $14k
-------------------
$18,600 and Dealer retains $10k tax credits in CA. It makes sense to me!

PLD,

As a potential early ED adopter, I find it odd that the smart Center can't yet confirm a solid ED leasing program for CA?

Depending on the real demand (versus interest) at the ED rollout $1k down seems realistic, doubt that you will see $99 per month but more likely $199+ subject to how much of the incentive smart MB chooses give up in the lease?

Not faulting your logic but as a new EV, probably can't speculate as to the smart lease strategy by comparing to that of the 2013 Nissan Leaf with lackluster sales, a cheap (Nissan subsidized?) lease and now a $6,400 price cut to $28,800?

At Under $19K for a Nissan Leaf, Does the Math on Electric Cars Finally Add Up? | TIME.com

[pointlomadave]

Let's do some math. I currently lease a 2012 Passion that retailed for $16,020.

$1,468 down
$4,572 36 payments @ $127
$8,450 residual
$ 395 return fee
---------------
$14,885 total paid before tax on a $16,020 MSRP. These are REALLY good leases btw!

So, if Smart applies the rebates to the EV to lower the lease payments as every other EV maker has...we should see VERY similar payments really! Possibly less in CA!

I mean heck, if the LEAF is $3k more after price reductions and $1999 down and $199 a mo, wouldn't it only make sense if the Smart EV was less than that? And it would need to be by a significant amount! I think the Nissan Residual is like $16,800 after 3 years. So maybe a Smart ED residual would be $14k. You can't fudge the residual...it needs to be a realistic purchase price for 3 years from now.

Since both the Leaf and Smart ED have the same federal and state rebates, I bet Smart will corner the market by doing $999 down and 99 a mo. Something crazy like that! Mark my words. =)

[dancote]

Gosh, it was so hard to find a "yawn" smilie that I finally gave up and decided not to post anything.

Regards,

Dan

[pointlomadave]

Originally Posted by dancote

Gosh, it was so hard to find a "yawn" smilie that I finally gave up and decided not to post anything.

Regards,

Dan

You won't be yawing when you see how cheap the lease is!

[dancote]

Originally Posted by pointlomadave

You won't be yawing when you see how cheap the lease is!

You're right.

Regards,

Dan

[E SMART]

imagine if it was ! This was of course for a '13 Pure (gas powered) but the $14,300 'net' price isn't too far off after incentives ... this was Loeber in Lincolnwood, IL; no IL EPA rebate on leases though I'm afraid but other states may allow bundling the fed tax credit + state incentives. No mention in their email campaign about the smart either.

[E SMART]

Contest where you can win a smart electric drive (3 year lease) plus a solar recharging station which is pretty cool ... only negative I see is that it's limited to who all can enter ... as I don't personally live in any of those states I'm out. Have often thought of adding solar panels to offset my electricity cost but being in the Midwest as well as house facing the wrong way and the looong payback I'll stick to my soon to be new 4.96 cents/kWh fixed rate which isn't 'free' but not bad ...

"The sweepstakes is open to residents of CA, CO, CT, MA, NJ, and VT age 21+, and runs through September 30, 2013 at 6:00pm PDT."




Real Goods Solar Smart Electric Sweepstakes | Real Goods

[pointlomadave]

Sheesh, it's feb 28th...a month away from my expected delivery date and no lease terms yet!