I am not too clear about the lease agreements for the Leaf. Since the Leaf lease deal has government tax benefits/incentives tied to it, what happens if I decide to let it go? Is there a minimum number of years that I have to keep the car for? Are there any caveats to observe in the event I decide to "sell/lease transfer" the Leaf next year? I have been leaning some over to the GM-Volt and need to consider some scenarios.... Hope you folks can help me think through these scenarios... Thanks in advance.
< Bump >... Errr, anyone care to advise? I was wondering as to why nobody responded to this question. I hope it wasn't asked in the wrong sense.... The Volt is now a $350/36mth lease which is on par the Leaf lease offer. Basically, if the Leaf turns out to be problematic say over the course of 8 mths or so, I will plan to 'sell' the Leaf via a lease transfer and get into a new lease with the Volt. Are there any issues that I need to consider? Will I be eligible for tax incentives again (example assuming CA tax credit $5k) by getting into a new lease with the Volt next year? Thanks in advance. GM to sell Volt for $41K, lease for $350 a month GM to sell Volt for $41K, lease for $350 a month - Yahoo! News DETROIT – General Motors Co. said Tuesday its Chevrolet Volt electric car will cost $41,000 when it goes on sale in November. While the price is about $8,000 more than its closest rival, the Nissan Leaf, GM said it will offer a $350-per-month lease deal that's essentially equal to the Leaf's. That will put the battery-powered Volt within reach of many people, GM said. Both cars also are eligible for a federal tax credit that will cut their prices by $7,500. The Volt's price would fall to $33,500 while the Leaf's would drop to $25,280 from $32,780. Some states, such as California, Georgia and Oregon, offer additional tax breaks that lower the price further. < cut >
Re: < Bump >... Errr, anyone care to advise? I don't think you get the tax incentives for leasing, do you? Only buying as far as I understand...
I've never leased - so not sure about how "letting it go" works. In any case, the owner of the vehicle, Nissan Leasing, gets the tax credit. They will anyway sell it if you let it go. You are not really involved - and I don't think there would be any federal regulations about this aspect.
As evnow says, the tax benefits go to the "owner," which is the company that leases the car to you. They are passing the benefits on to you. They would not have to do this, but they want to be competitive, so they are doing it. So you don't have to do anything to get the tax benefits, because that's built into the leasing price. You don't get to deduct anything from your taxes. But you get the car cheaper because Nissan gets a tax break. However, as with any lease, the contract will specify the penalty for giving up the car early, just as it will specify the penalty for returning the car damaged at the end of the lease period. What these terms will be, I don't know if they've said. But my guess is that the lease will be similar to other car leases. Go to your Nissan dealer and ask what are the terms of their leases on other cars, and I think it's a good bet that the lease on the Leaf will be similar. Hope this helps.
