Nissan is getting aggressive with pricing on its Leaf EV. The Japanese automaker recently announced a significant price reduction for all Leaf trim levels, but for folks who'd rather lease, Nissan has an even better deal. Depending on where you live, you could lease a brand new Leaf for just $89 per month. Putting that into perspective, it's about the same monthly expense as buying a zippy morning coffee on your way to work each day.
Scoring a brand new car for under $100 a month sounds too good to be true, and for many car shoppers in the US, it will be. According to Cars Direct, Nissan offers this lease rate only in select areas and they appear to be major urban locations like New York, Houston, Los Angeles, and San Francisco.
save over $3,400 on average off MSRP* on a new Nissan LEAF
However, in other areas the lease rate is still impressively low at $149 per month, and you don't need to sell a kidney for a down payment. $1,449 is due at signing, and that includes the first month's payment. Furthermore, Cars Direct points out there could be other regional rebates and credits to lower the cost even further.
Gallery: 2020 Nissan Leaf
That said, this crazy lease deal is also crazy specific. It applies to the base model Nissan Leaf S, which only has a range of 150 miles and a maximum output of 147 horsepower (110 kilowatts). The terms of the lease are also specific – two years and 10,000 miles per year. Switch either of those metrics and the monthly cost skyrockets. Cars Direct cites residual values being much better on a two-year lease as part of the reason for the lower monthly payment. But merely adding 2,000 miles to the equation (12,000 annual versus 10,000) sees the monthly payment more than double. That seems suspiciously extreme for such a small mileage difference.
In any case, these lease deals are currently live on Nissan's configurator and they are good through the beginning of September. Of course, the fine print says you must take delivery from dealer stock, and at this point, it's unclear how many entry-level 2022 Leaf models are in stock. But if you can find one, you could drive a brand new car for an incredibly low monthly payment.