http://green.autoblog.com/2014/08/14/why-leasing-a-new-ev-is-better-than-buying-used/ Why a new EV is better than buying used By Danny King Aug 14th 2014
[images http://green.autoblog.com/photos/2013-nissan-leaf-0/ gallery - Nissan Leaf ] The old saying goes that when you buy a used car, you're buying somebody else's problems. And when it comes to electric vehicles, you're also not getting the benefit of any purchase tax breaks. Maybe you should just lease a new one. That's the conclusion of a new article in Wired, which compares leasing a new Nissan Leaf battery-electric vehicle to buying a two-year-old version with about 33,000 miles on it. Turns out, leasing comes out way ahead. A $2,400 down payment will procure a 36-month lease at $199 a month. Meanwhile, a two-year-old Leaf with a $15,000 Kelley Blue Book value will cost more than $300 a month to finance. Much of the reason for the lower lease rate is that the $7,500 federal tax credit is baked into the lease terms, whereas a second-hand EV doesn't provide that benefit. Maybe that helps explain why more new Leafs are going out of the showroom doors than ever. Through July, US Leaf sales had surged 35 percent from a year earlier to 15,755 units. Last month alone, Leaf sales jumped 62 percent to 3,019 vehicles. Soon, Wired's numbers will get to be put to the test in a big way, as lots of 2011 Nissan Leaf EVs and Chevrolet Volt plug-in hybrids finish up their initial three-year lease terms and hitting the used-car market. We'll see how those Blue Book values hold up then. [© 2014 AOL] http://www.wired.com/2014/08/why-its-cheaper-to-lease-a-new-electric-car-than-to-buy-one-used/ Why It’s Cheaper to Lease a New Electric Car Than to Buy One Used By Jordan Golson 08.11.14 [image http://www.wired.com/wp-content/uploads/2014/08/ev-leaf-inline.jpg Nissan Leaf. Karlis Dambrans/Flickr ] The high price of electric cars is one of the issues holding them back from widespread adoption. But if you think you can get around paying the extra cash by picking up a used ride, think again. In many cases, buying someone’s old EV isn’t any cheaper than getting a new one. It comes down to the government’s preferred way of encouraging people to drive EVs: tax credits. The federal credit is $7,500. That’s a bottom-line credit, so if you’re not paying at least that much in federal taxes, you’re not getting the full benefit. (Various states offer different credits, or none at all.) That leads people to lease EVs instead. The financing company that buys the new car from the automaker gets the full tax credit, so it can pass those savings to the lessee in the form of lower monthly payments. That’s why you can get a new Nissan Leaf for $2,400 down and $199 a month for 36 months. It’s hard for used EVs to compete with lease rates this low, because the tax credit isn’t passed down. Kelley Blue Book estimates a 2012 Leaf with 33,000 miles on the odometer will sell for $15,000. If you put down 10 percent on a 4-year term at 4 percent interest, you’re paying $305 a month. Throw in the fact that we don’t have a good handle on how EV batteries degrade over time (though most have good warranties), and there’s no reason not to grab a new one. That being said, the EV market as a whole is very young. We’ve focused on the Leaf here because it’s the only fully electric, non-luxury car that’s been sold nationwide for the past few years, so it’s the only used EV most people can buy today. (There is a used market for the Tesla Model S, but mostly because some buyers don’t feel like waiting several months to get a new one.) We should have more data soon. The first Chevy Volt and Nissan Leaf models bought in 2011 are coming off their three-year lease terms, which will give us a better idea of how the used electric market will take shape. Even then, it will only tell us about the used market for two car models. “Nissan Leaf used car values say a lot about the value of the Leaf, or maybe any 80-mile range EV” noted electric vehicle advocate Chelsea Sexton. There are “no reasonable conclusions to draw in terms of market appetite for used EVs.” [© 2014 Condé Nast] For all EVLN posts use: http://electric-vehicle-discussion-list.413529.n4.nabble.com/template/NamlServlet.jtp?macro=search_page&node=413529&query=evln&sort=date http://www.torquenews.com/1080/rolls-royce-enters-video-games-wraith-now-forza-motorsport-5 Formula E racer enters in anticipated Forza-Motorsport5 video-game http://www.independent.ie/life/motoring/car-news/coast-to-coast-in-the-zoe-my-electriccar-drive-diary-30509734.html Driving a ZOE EV on an eventful UK coast2coast-Dublin2Galway journey http://www.motortorque.com/renault/twizy-reviews/renault-twizy-review-25943 £6.9k Renault Twizy review> the cheapest EV on the market http://www.greencarreports.com/news/1093873_electric-boats-as-in-cars-electric-propulsion-offers-advantages-on-the-water Electric Boats> Battery Power Offers Advantages On The Water http://transportevolved.com/2014/08/12/ever-wondered-tesla-supercharger-site-built-video-explains/ How Tesla Superchargers Are Built (video) ... http://news.boldride.com/2014/08/building-a-tesla-supercharger-at-warp-speed-video/54342/ Building a Tesla Supercharger at Warp Speed (video) + EVLN: Forget the Guess-o-Meter> use planning & common sense (video) {brucedp.150m.com} -- View this message in context: http://electric-vehicle-discussion-list.413529.n4.nabble.com/EVLN-Incentives-make-buying-a-new-EV-better-than-buying-used-tp4671121.html Sent from the Electric Vehicle Discussion List mailing list archive at Nabble.com. _______________________________________________ UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub http://lists.evdl.org/listinfo.cgi/ev-evdl.org For EV drag racing discussion, please use NEDRA (http://groups.yahoo.com/group/NEDRA)
