Picked up on October 17, 2016
2016 Nissan Leaf SL with premium package (a $1500 option)
The finances break down as follows:
|-$4000||Nissan finance rebate|
|-$2480||Employee Vehicle Purchase Plan|
|$60||Registration and plates|
|$31834||Taxable purchase price|
|$33993.36||amount to be financed|
|-$7500||Federal Tax rebate|
|$23993||Out of pocket expense|
|$472.13||Monthly payment (0% 7 year loan)|
The federal tax rebate is a rebate on taxes you pay, so to get the rebate you need to owe at least \$7500 in taxes. The rebate can be spread over 2 years if needed. The state (MA) rebate will be reimbursed “within 75 days”. You must finance using the Nissan Finance 0% loan to get the $4000 Nissan Finance rebate. I think this is to provide cash poor buyers with a way to finance the purchase, as the federal and state money is unavailable when the purchase agreement is signed.
With everything financed, we drive away with a new Leaf and won’t make our first payment until November 28, over a month away.