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Is Nissan Leaf a good deal for Georgian?

Atlanta was the #2 market for electric car in America, second only to San Francisco in 2013, according to Atlanta Journal and Constitution. There are a lot of Nissan Leaf cars on Atlanta’s streets. Leaf owners boast that Leaf is a good car. Nissan Leaf has 100 miles range per change. If ones daily driving range is less than 75 miles (with 25 miles range as safety reserve), Nissan Leaf is a viable option.

However, does owning a Nissan Leaf makes financial senses? Here are some facts from a potential buyer:

  1. Daily driving range is around 40 miles;
  2. Twelve months’ gas cost was $1,400
  3. Extra car’s insurance for an extra car is $634 / year
  4. Estimated $15/month electricity increase
  5. $5,000 one time tax credit from State of Georgia
  6. Lowest lease cost is $299/month without down payment for 24 months
  7. Estimated taxes and fees is $1,000

Here are numbers on the plus side:

  1. Gasoline saving for 24 months: $2,800
  2. State Tax credit: $5,000

Total saving for 24 months: $7,800

Here are numbers on the minus side:

  1. Insurance increase: $1,268
  2. Electricity increase: $360
  3. Car lease payment 24 months: $7,200
  4. Taxes and fees, $1,000.

Total cost for 24 months: $9,828

Without tax and fees, cost is higher than saving by $2,028. If the Nissan Leaf is a direct car replacement, one does not need to pay for the additional car insurance. Hence the Leaf breaks even in the money side without taxes and fees.

Conclusion

With current price, Nissan Leaf is close to a break even car. Nissan Leaf is good for the environment with additional convenience of not filling up in gas stations. If one really need to replace ones car, Leaf is good deal. However, if one will use it as an alternative car with a regular car as a backup, then Leaf will cost come money. Ultimately, this is a personal choice.

 

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