Chances are that gas prices are going to go through the roof soon, so would it be wise to invest in one of those new electric cars? This is the question that I’m beginning to ask myself, so I decided to do the research.
Nissan Leaf Purchase Price
The Nissan Leaf has a current sticker price of $32,780, so it’s by no means cheap from the get-go. However, there is quite a favorable tax credit as an incentive for your Eco-friendliness. This will take $7,500 off that initial purchase price. So, the actual cost of this new electric car is approximately $25,000. That’s actually not too bad for a new car!
Can the Leaf Go Faster Than 30mph?
When I think of an electric car, I think of a moped with 4 wheels and only slightly more room. I know this is silly, but I do not ever consider electric cars to be speedy. As it turns out though, the Leaf can go 0-60mph in 8 seconds. That’s actually not too bad.
So How Does the Charge Work?
The Nissan Leaf obvioulsy uses no fuel whatsoever; it is fully powered by a 24kWh lithium battery pack. Each Leaf will be supplied with a “Level 2” charging station that is included with the purchase price, and will be the most common way to charge the car. Since this electric car is only capable of going 100 miles on a single charge, you’ll most likely be plugging in your car every evening. For every hour of charging, your car will be able to go 14 additional miles. If you begin charging from an empty tank, it will take approximately 8 hours to charge up completely.
How Much Does It Cost to Charge the Nissan Leaf?
The national average electricity cost is $0.1147/kWh. That means the average cost to charge the car would be $2.75 from Empty to Full. Not too bad. As a comparison, the Toyota Prius averages about 55 miles per gallon of gas (which is over $3 right now), so by charging our car with electricity, we’re spending half the money of that Prius driver!
Will The Nissan Leaf Save Me Money?
My wife and I currently drive a Jeep (don’t shoot us, this is our only vehicle! We go everywhere together) that averages about 16 miles per gallon. We spend about $200 a month on gas for our trips to work and a few grocery outings. If we owned the leaf, our “fuel” bill would be about $25. That would give us a savings of $175 a month, or $2,100 a year! That is pretty amazing, and it seems this car will soon pay for itself.
Do I Think It’s Worth It?
Before researching this topic, I figured it would be slightly beneficial to own an electric car, but I am really becoming a believer in this alternative fuel source for cars! The Leaf looks pretty sleek, the interior is futuristic, and the gas savings prove to be well worth the initial expense!
When we are in the market for a second vehicle, I’m going to be looking into the Nissan Leaf.
What is your take on the new electric cars? Have you looked into the Nissan Leaf, or do you intend to in the future? Are you bothered by the lack of distance per charge?
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.