Drive a Free (Almost) Device!

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It’s become so hard to sell EVs like the Nissan Leaf that some enterprising dealers have figured out how to give them away, almost. One dealer in Colorado, for instance, is offering the opportunity to drive a new Leaf for $19 per month. It’s a lease payment that takes advantage of the federal EV tax kickback and Colorado’s EV tax kickback, plus a $1,000 store credit Nissan kicks back to the dealer, who kicks it back to the customer.

Of course, there are some catches – including the $695 “acquisition fee” and another $699 for “dealer handling” – that end up raising the cost of the lease to about $100 per month. And you’re limited to 20,000 miles over the course of the two-year lease.

But at least the device is off the lot – and that’s why dealers are almost giving-away these devices, which they otherwise have as much trouble selling as yet-another “booster” to “stop the spread” of the sickness every “vaccinated” person seems to keep on getting.

Note that those are also offered for “free,” too.

It’s because – in both cases – there are costs.

In the case of the device, it’s the opportunity cost of lost time. Of the time spent worrying about whether the device will run out of charge and how much time will have to be spent waiting for it to charge. Everyone – except perhaps for the casket model auditioning for his Weekend at Bernie’s re-selection as “president” (of what, per Snake Plissken in the original Escape from New York) understands these costs and seeks to avoid them by not buying the devices that impose them.

One wonders, though, whether the lease issuers understand the costs they are buying into. Specifically, the cost of what a two-year-old device will be worth after it has been discharged and recharged for two years. Vehicles lose about 20 percent of their original value (when new) after about two years but devices lose as much as twice that because potential used-device buyers are now aware of the cost of replacing the device’s battery, which costs more than replacing both the engine and the transmission in a vehicle that likely won’t need to have either replaced for at least 12-15 years even if the vehicle is driven every day. Even if its driver empties the tank pretty much every day – and refills it to full in less than five minutes at any gas station.

But if a device is subjected to heavy everyday use; if its battery is regularly discharged to near-“empty” and then “filled up” quickly (so to speak) at a “fast” charger, then it is expected that it will be necessary to buy a new battery much sooner because the one the device came with will be losing its capacity to accept and hold a full charge long before 12-15 years have passed.

That’s why a device like the Leaf that lists for $28,140 to start when new is likely to be worth $18k or less after just 24 months

Who’s going to pay for that?

Probably all of us, once the government gets involved – which it inevitably will once these costs become impossible to hide. For now, they can only be hidden. Nissan builds the devices because the government’s regs require every vehicle manufacture to manufacture devices; the dealers are then required to accept a certain “allotment” of devices they can’t sell – but which they are obliged to buy from the manufacturer (e.g., Nissan) via short-term loans predicated on the assumption that the dealer will be able to sell the devices. Each month the dealer hasn’t sold the devices costs the dealer, so the devices are leased at give-away prices, just to get them off the lot (and off the books).

The lease company then hides the cost for the next couple of years. All seems to be “working” because – see! – the devices are “selling.” They aren’t just sitting – either on the dealer’s lots or in the manufacturers’ parking depots, waiting to be shipped to dealers who can’t sell them and for that sound reason don’t want them.

But what happens when all these leases come home to roost? More finely, who will be left holding the bag for all of these costs? The lease companies are not going to just eat them. They will pass them along to people who lease vehicles that aren’t devices, just the same as the insurance mafia has been passing along the much-higher cost of repairing (and replacing) the cost of devices to those who haven’t bought one.

If that cost proves to be too much – for the people who want to lease a vehicle rather than device – then you can expect the government to step in and eat the costs that have been passed along to the leasing companies, which we’ll be paying for, of course – since the government can only “help” by forcing us to pay.

The good news is that – for now – you can drive a new device for just $19 per month. And it’s worth every cent of that.

. . .

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29 COMMENTS

    • Nissan, I suspect, is a goner.

      Its stupid trick of setting up former gaijin CEO Carlos Ghosn to be thrown in a Japanese dungeon — to be hammered on by Japanese prosecutors without a lawyer present — showed that Nissan is both corrupt and brain dead.

      Ghosn ended up slipping out of Japan in an audio equipment box. Nissan is still hounding him:

      ‘A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut home and office of the company’s former boss Carlos Ghosn, a judicial source said on Feb 17, 2024.

      ‘The Beirut judge has decided to prosecute “four senior Nissan officials” of Japanese, Spanish, French and British nationalities, accusing them of “committing a number of crimes”, the judicial source said, requesting anonymity as they were not authorised to speak to the media.

      ‘The “most important” allegation is entering Ghosn’s Beirut office and house “against his will and stealing documents, files, electronic devices and accessing his private information system, tampering with its contents and copying data,” the source added.’

      https://www.straitstimes.com/world/beirut-judge-charges-nissan-employees-for-stealing-ghosn-documents

      Stupid Japs: still pursuing their stale vendetta against Ghosn, while Nissan burns. Let it bleed.

  1. Summer charging — five tips from EVblow:

    1. Park your EV in the shade or in a garage (if you can).
    2. Precondition your EV before getting inside. (If it’s plugged in, keep it plugged in while you precondition).
    3. Ease up on the accelerator and brakes.
    4. Take it easy on the A/C if you need the range.
    5. Limit your fast charge to an 80% State of Charge (SoC)* and charge at night whenever possible.

    https://www.evgo.com/blog/summer-charging-5-warm-weather-tips-for-evs/

    What kind of retard (other than a Hahhhhvid grad like Jenny Granholm) would put up with this meticulous rigamarole?

    ‘Take it easy on the A/C if you need the range.’ Oh, the condescension! Take it easy on the insolence, punk, if you need your teeth.

    • ‘Energy “Secretary” Jennifer Granholm [a Hahhhhvid lawyer who doesn’t know jack about energy] told reporters the awards were a “hallmark of the Biden administration’s industrial strategy” and would “modernize historical auto manufacturing facilities.”

      ‘She said it had become clear more than a decade ago that automakers, to embrace the future, “needed a federal partner especially to compete with other countries who were subsidizing their auto industries and that’s what this massive investment is all about.”‘

      An industry that needs a ‘federal partner’ to ‘subsidize it’ is as senile as the ‘Biden’ entity.

      In effect, ‘Jenny Granholm’ is the undertaker of GM and Stellantis, helping them build white elephant EeeVee plants whose output has no market.

      This is Soviet economics. It spells declining living standards for Americans, as capital is stolen from the people by Big Gov and channeled to negative rate of return showcase projects for politically-connected zombie corporations.

      Jenny Granholm — e pluribus airhead.

  2. 2024 Nissan Leaf MSRP $28,140.00

    2024 Nissan Leaf residual value after 2 years .66 66% = $18,572.40…based on calculations pre covid….used car values are dropping down now…during covid they went up…

    Kickbacks from the government…. $7,500 from the US fedgov, $7,500 from Colorado, and $1,000 from Nissan erases $16,000 from the $28,140.00 MSRP.

    Leaf value after 2 years….The average CARFAX History Based Value of a 2022 Nissan Leaf is $15,873.

    Of course, there are some catches – including the $695 “acquisition fee” and another $699 for “dealer handling”

    Lease payments 24 X $19 = $456.00

    The dealer gets….

    $16,000 from the government and Nissan
    $456.00 in lease payments
    $695 “acquisition fee”
    $699 for “dealer handling” fee
    $15,873.00 at end of lease if customer buys out the car or $15,873.00 at an auction or used car lot…

    The dealer gets total of ….$33,633.00
    MSRP $28,140.00…dealer cost $27,000.00 ?…profit = $6,633.00…minus interest over 2 years on the $11,000 the lease company has in the Leaf…

  3. I might consider driving one of those if they cut *me* a check every month. But probably not.

    I just checked the dealer’s website and they have 26 of these stupid things on the lot! That’s gotta really mess up the floorplan.

  4. Is it an open or closed end lease?

    Closed end lease…the buyer guarantees the residual value at the end of the lease…if the real residual value is less then the residual value written on the lease…the customer pays the difference….

    Open end lease…the lessor…the seller…. guarantees the residual value at the end of the lease…..if the real residual value is less then the residual value written on the lease…the lessor…the seller/dealer eats the difference….

    If it is a closed end lease…the buyer could have a nasty surprise at the end of the lease….

    • Flip those. Closed end is where the lessor takes the residual risk. I expect that close to 100 percent of dealer lease deals are closed. Open are generally when someone needs more flexibility (higher miles, etc).

  5. One item overlooked in this scenario is the insurance mafia. You will be required to have full coverage, and what might that cost for a rolling firebomb.

    • Lease a new Nissan Leaf for only $19.95 a month!*

      *mandatory insurance coverage: $199.95 a month

      Such a deal! Why didn’t the Mafia think of this before? Give out free razors; peddle the blades.

  6. They still don’t want to discuss the other elephant in the room, just how expensive electricity is at the retail level.

    State. cents/kWh
    Rhode Island 31.22
    California 29.49
    Massachusetts 28.34
    Connecticut 27.40
    Maine 25.89

    The top 5 (not counting HI) are well over $0.25/KWh, an insane price to pay. Colorado falls near the average at $0.1426/KWh which is still far too much. Should be closer to $0.10, but that’s no longer possible with expensive and intermittent sources.

    https://www.usatoday.com/money/homefront/deregulated-energy/electricity-rates-by-state/

    The greens love to point out how efficient electrically driven devices are (heat pumps always come out on top of the efficiency game at over 100% since they’re moving heat), but rarely do they discuss the high price of electric power. I heat my house with a hot water baseboard system. It costs me about $80/month in gas during the winter. A few years ago I had to replace the boiler. The HVAC company was pushing ultra-efficient boilers that were 99% efficient or some such nonsense, at 4X the cost -about 15% of my homes value too. I went with the slightly less efficient basic boiler for a much more reasonable cost, added a little more insulation in the attic, and installed a gadget that will throttle the burner back on warmer winter days, and still save money on gas.

    But I also got a quote for a heat pump, that would also replace the very cheap to operate swamp cooler. Again, it was nearly 20% of the value of my house, not a good investment at all. And it would use expensive electricity instead of cheap natural gas. But it would be extremely efficient.

    Sure, you get a free car. But you still have to pay for expensive electricity.

    • Here in WA they’re working to ban Natural Gas, already prohibited for new construction. Heat pumps for the masses! Now the utilities are urging people to limit elec use (set your cooling to 78 or higher) as the temps here rise for summer. And add the all EV mandate for 2030? And take out Snake River hydro dams? The insanity here is mind blowing.

      Rumor is our retiring govenor is moving to Idaho, thanks for nothing Jay after implementing the programs destroying Washington State.

      • Do you know where Black Diamond is in Washington State?

        I wonder why they call it Black Diamond, might dawn on me someday.

        What do you think the sun is for?

        You use the natural resources that Mother Nature provides, how it gets done every time.

        Oxygen is a natural resource, a molecule that is needed to have combustion.

        Up to 105 natural elements, hydrogen to oxygen to carbon to lead to gold to uranium to titanium.

        92 regenerative elements, according to the gospel of Buckminster Fuller. Make a geodesic structure so large, it will float in the atmosphere. Buckminster had the idea, might work.

        Only one way to have 92 regenerative elements, you need a universe for that to happen.

        Nobody on the planet can do that.

        With enough know-how, you can build a space station, which is pretty cool, if you think about it.

        Some jet fuel for a Boeing jet, you have a Boeing factory in Renton. Boeing is on the ropes these days, needs to straighten up and fly right, easier said than done.

        If you want rare elements, coal is one source that is available. There is uranium in coal ash.

        Oxygen is the number one fuel, you’ll die without it.

        • Well, the mining car on the way into town labeled “Welcome to Black Diamond” might be a clue!

          Clutch your pearls & don’t choke on your avocado toast, climate cultists – there’s more. In the valley below Black Diamond is Flaming Geyser State Park. Yep, up from the ground comes a bubblin’ methane. The flame burned till 2016. “Oh Sparkey, it just … bubbles up from Gaia? How can this be? Has she forsaken us?”

    • ATTENTION: Estimate in dollar cost $/MWh energy production at power plant in 2015. exclusive of tax credits, subsidies, or other incentives
      coal 95.1 natural gas 72.6 nuclear 95.2 offshore wind 196.9 solar 239.7

      NOTE: (if a natural gas power plant is converted to solar source power plant source of power the price of electricity triples, who is going to pay for that?….stupidity…)

      natural gas is the cheapest and cleanest, less environmental damage….next best nuclear, push nuclear…..everything else except coal is far too expensive, forget it….

      solar, wind turbine and hydro are way too expensive environmentally damaging…

      Hydro power stations are expensive:
      Capital costs
      For power generation capacity capital costs are often expressed as overnight cost per watt. Estimated costs are in dollars:
      Conventional hydropower $2752
      Natural gas turbine $710
      ATTENTION: Estimate in dollar cost $/MWh energy production at power plant in 2015. exclusive of tax credits, subsidies, or other incentives
      coal 95.1 natural gas 72.6 nuclear 95.2 offshore wind 196.9 solar 239.7
      (if a natural gas power plant is converted to solar source power plant source of power the price of electricity triples)
      Capital costs
      For power generation capacity capital costs are often expressed as overnight cost per watt. Estimated costs are in dollars:
      Gas/oil combined cycle power plant $1000
      Natural gas turbine $710
      Onshore wind $1600
      Offshore wind $6500
      Solar PV (fixed) 1800
      Solar PV (tracking) 2000
      Battery storage power $1380
      Conventional hydropower $2752
      Geothermal $2800
      Coal (with SO2 and NOx controls) $3500–3800
      Advanced nuclear $6000
      Fuel cells $7200

      wind turbines and solar are far too expensive and environmentally damaging, electricity prices will skyrocket and there will be blackouts everywhere (no wind or sun) in the very far north diesel produces 100% of electricity in some areas, if it is banned it will be back to the stoneage there.

      ATTENTION: Estimate in dollar cost $/MWh energy production at power plant in 2015. exclusive of tax credits, subsidies, or other incentives
      coal 95.1 natural gas 72.6 nuclear 95.2 offshore wind 196.9 solar 239.7

  7. Sure drumphish has a point that this possibly could be a plan to get rid of ICE cars by making EVs super cheap but even .gov can’t print enough money to pull it off without massive blow back. So I’d say if a Leaf can be made to work for you at an actual $100 per month cost do it.

    Post on the internet what worked and what didn’t; winter experience would probably suck along with waiting to charge it but use it as a cheap in town commuter and keep an ICE car for longer trips and when you need a larger car. Isn’t this what happened in Norway when the incentivized people to buy EVs? As an added bonus you won’t own it or it’s future battery problems.

  8. Can I lease a Tesla for 19 dollars per month? Rivian? One of those for 19 dollars per month?

    You know, price match and all of the nonchalant jazz.

    It might be a trick to get people to drive an EV for just 19 dollars per month.

    Pretty soon, everybody will be driving an EV, 19 dollars is peanuts.

    Just go to any EV company and lease an EV for 19 dollars each month, drive one away, two years later, you will have paid 454 dollars in lease expense plus some electricity to charge the battery.

    After a period of time, EV’s will rule.

    Dealership lots will be filled with ICE vehicles, can’t compete with an EV that moves you to your destination for less than 70 cents per day.

    Gas stations would sell a lot less petrol.

    It’ll be even more chaotic, general mayhem.

    Every CEO is expected to be on the job by 4:00 am every day, no matter what. You have a job to do and it pays millions, can’t slough off at any time.

    You can be in Tahiti for six months after you leave the company.

    Life is good.

    If you want to buy a company stock, buy one that any idiot can run, because eventually, an idiot will be chosen to run the company. It does happen.

    To quote Peter Lynch: When somebody says, “Any idiot could run this joint,” that’s a plus as far as I’m concerned, because sooner or later any idiot probably is going to be running it.

    Mary Barra qualifies for the ‘any idiot’ company CEO, just one example. She needs a vacation or something.

    For the US gov, Biden is the idiot in charge. He’s asleep at the wheel.

    We need a serious break from all of the rigmarole.

    See the pyramids along the Nile, it’ll be great.

    100 million EV leasers will fork over 1,900,000,000 dollars every month. Dot gov will cover all manufacturing costs, the idiots that they are.

  9. And the Milgram electric shocks just keep on coming:

    ‘Volkswagen is considering the restructuring or potential shutdown of its Audi plant in Brussels on the back of weak demand for the Audi Q8 e-tron line — a fully electric offering.

    ‘The cost of the prospective closure or of finding an alternative use for the site could lead to a hit of up to 2.6 billion euros ($2.81 billion) to the company’s operating profit in the 2024 fiscal year, Volkswagen said.’

    https://www.cnbc.com/2024/07/10/volkswagen-shares-slip-as-it-considers-brussels-plant-closure.html

    Get woke, go broke — can’t y’all translate that into German? Sheesh!

  10. Colorado’s $8,100 EV tax credit

    So Colorado spends $8,100 per dEVice to give EV manufacturers a reason not to innovate, when it’s precisely the lack of innovation that makes car buyers shun EVs in the first place. It would be a mind-bogglingly stupid policy if increased EV adoption were the goal.

    • Evidently the InsideEVs stenographer made a math error: ‘Colorado taxpayers are eligible for a state tax credit of $5,000 for the purchase or lease of a new EV on or after July 1, 2023 with a manufacturer’s suggested retail price (MSRP) up to $80,000. An EV with an MSRP up to $35,000 will be eligible for an additional $2,500 tax credit.’

      https://energyoffice.colorado.gov/transportation/grants-incentives/electric-vehicle-tax-credits

      So, $7,500 from the US fedgov, $7,500 from Colorado, and $1,000 from Nissan erases $16,000 from the ~$30,000 MSRP. If the residual value after two years is assumed to be 50 percent ($15,000), then there’s nothing to finance except $400 of the $1,400 in dealer fees.

      This is, in other words, a wholly Sovietized ‘market,’ where notional net prices are set by the state and lack any economic meaning. But then, what did we expect when a former sensible cowboy state falls into the clutches of a DemonRat governor who’s married to another man?

      A relative in Boulder rails against ‘Boulder County Closed Space,’ which buys up recreational land with tax funding, then closes it to the public on the basis that their vulgar, contaminating presence threatens endangered species of animals and plants. Stay in your 15-minute cities, little citizens, and Gaia is appeased.

      ‘Ford’s in his Leaf and all’s well with the world.’

      — Aldous Huxley, Brave New World

  11. That sounds about as shady as when the government was covering up deaths of people who were vaxxed. I don’t know if anyone here remembers this, but for a while in 2021, if someone was vaxxed and DIED less than 2 weeks of getting the “recommended” 2 COVID shots AND tested POSITIVE for the dreaded ‘Rona, that person was listed as UNVACCINATED, which the media, Tony Fauci, Joe Biden, and even then CDC Director Rochelle Walensky used to peddle the BS narrative that we were in a “Pandemic of the unvaccinated!”

    What BS narratives might the government use to justify their shenanigans involving pushing “EVs for all!” & the inevitable crumbling of the demented EV agenda? Will they blame it on people who REFUSED to be guinea pigs for “Big EV”?

  12. ‘you can expect the government to step in and eat the costs’ — eric

    … over and above the cost of the EeeVee tax credits, for which they already are eating the costs.

    Since the US fedgov currently runs a $2 trillion annual deficit, EeeVee tax credits just add to the borrowing tab, which currently stands at $35 trillion. Which raises the pertinent question: Who will be left holding the bag for all of this debt?

    One reason that birth rates have fallen below replacement rate in virtually all rich countries, is that people sense we are living in a unsustainable, wanton fantasyland.

    Children face a worse future than chattel slaves did in the 19th century, taking their first breath already hundreds of thousands of dollars in the hole. Soon they will rise up and repudiate an obligation they never assented to — an obligation foisted upon them by tongue-flicking, lizard-faced old reptiles like McClownell, ‘Biden,’ and Schumer.

    At this point, even hurling their stooped, wrinkled old forms into a volcano to propitiate the angry gods will not remedy the distress of the People and the Homeland. 🙁

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