Saturday, August 18, 2018

Leafs turn in the fall

Actually not so much 'turn' as 'sell.'
Yes we're selling our less than two year old Leaf.        Edit: SOLD!

"What? What's wrong with it?"

Actually nothing, it's in nearly perfect condition, bit over 20K miles and since we got a pretty good deal on it (see previous posts)  the asking price will be aggressively fair.

"But,  so,  Why?"
Well you may have noticed a newer nicer (if rather more expensive) electric vehicle starting to show up in the area.
I think an order might be in order. Besides, "We want's it, my Precious!"
...but... we can't afford to have two EV's (OK scratch that, there's already two, we can't afford three) knocking around the house so one of them has to go. Payout on the lease is reasonable, (remember that the monthly billing was really, artificially, low) but it takes a couple weeks to process, already in process. Or the process of processing,   or whatever.

It has everything that's important, at least from my perspective:
It has the fast charging option, and experienced Leaf owners from 2015 -OR- 2018 will tell you that no Leaf before or since charges as well (or as quickly) as the 2017 30 KWh Leaf.
The backup camera, the hands-free bluetooth, the big playlist you can load on the, actually pretty darn good, audio system. It doesn't have the larger 'Nav System' screen, but given how much better (seriously, lame.) your phone works for that you won't miss it. It is missing the aluminum wheels and the leather 'trimmed' interior but it's hard to say if that's worth several thousand dollars.
Not a bad package at all.
If you just gotta have the additional 40 mi. range of the 2018 model, then march right into the dealer. But, make sure to haul an additional $13K in with you.

Up until a couple weeks ago I would have hesitated to sell it to anyone I know as some reports of accelerated battery degradation had started to pop up.  Oops, not good, glad we're leasing.
Then there was an announcement that Nissan had identified an error in the battery management system that was reporting an incorrect value to the main computer in the car. Making it look like the range had decreased, even though the underlying battery cells tested fine.
They issued a recall and all the 2017's will be getting an update to fix the problem, even though some (like ours) aren't showing any symptoms. Whew! So we're getting scheduled for that.
Some of the big fleet operators, who had been involved in identifying and publicizing the problem have now had some time to do testing and report that the fix is real and works correctly.
That information isn't really sunk into the market yet and it's 'helped' depress values somewhat.

So, on to the pricing issue:
'Book Values' are all over the map, as is apparently usual for a new (30 KWh) type of an existing model in it's first two years. I saw expected prices from just below $16K to nearly $20K. Given it's under two years old, doesn't have any problems, is in excellent shape, and sold for nominally about $32K a year ago, I'm going to pin the tail on the price graph right at $17.8K.  Yes that's 45% down in less than two years.  Welcome to my world....
Actually I just saw a report showing the average Leaf loses 72% of it's value after 5 years. The average for all cars was 56%. That sounds horrendous except they were comparing each car to it's original sticker price. If you compare instead to the post-credit(s) and Nissan/dealer markdowns price, the Leaf looks only a tiny bit (4%?) worse than average.

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