A Colorado dealership has been getting numerous consideration this week for an incredible lease deal on a 2024 Nissan Leaf S. This $19 a month, $0 down supply is achievable due to a mixture of reductions together with the federal IRA EV tax credit score, the Colorado state EV tax credit score, the low-MSRP EV tax credit score and a $1,000 low cost when leasing by way of the Nissan Motor Acceptance Firm LLC (NMAC).
The lease phrases are a bit extra restrictive than ordinary at solely two years and 10,000 miles. However these phrases have change into fairly frequent in Colorado for low-cost EV leases since they only meet the minimal necessities to qualify for the state credit score.
However the mixed reductions make the stricter phrases worthwhile, with $7,500 from the Federal authorities, $5,100 from the Colorado credit score and an extra $2,500 due to the low MSRP of the Leaf. Better of all, every low cost is utilized on the time of lease. So if you happen to’re in search of an affordable EV in Colorado, that is an incredible worth. Nonetheless, in relation to precise month-to-month prices, $19 a month doesn’t inform the total story.
For one, this supply is after all solely out there to Colorado residents. Even then, a mixed $1,400 of dealership charges will should be paid upfront or rolled into the worth of the lease. Further seller choices added to the automobile will additional improve the month-to-month price. And naturally, you’ll nonetheless have to pay varied state and native taxes on the automobile, that are usually 8-9% mixed for the lease funds. So we’ll common taxes to tally round $800, however this may fluctuate relying on the ultimate MSRP of the automobile and native taxes.
So over a two 12 months interval with $0 down, you’re taking a look at month-to-month costs of $19 for the bottom lease, round $34 in state and native taxes, and $59 in seller charges, assuming there are not any seller add-ons. In different phrases, count on an precise month-to-month fee of over $100 when all is claimed and completed.
Nonetheless, these extra price issues apply to most marketed lease affords in the US. All the time take the quoted worth with a grain of salt. Even at $100 a month, it is a improbable lease deal for a Nissan Leaf S.
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