Lease That Electric Car
By EV World Video
Swapalease.com's Scot Hall explains the mechanics and rationale for leasing an electric car instead of buying it in this EV World Dialogue video interview.
Owning a automobile makes a lot of sense to a lot of people, especially if you plan to keep it for more than several years. But for certain consumers, leasing is the preferred approach to private car access, and this is particularly true for electric cars, argues Scot Hall, the Executive Vice President of Swapalease.com. Scot is not alone in his view; so does Consumer Reports.
There are a number of good reasons for opting to lease, instead of buying an EV, be it an electric hybrid such as Chevrolet's Volt or a fully electric model like Nissan's LEAF. Chief among these are the incredible offers carmakers have made to get people into their cars in efforts to overcome their natural reluctance to change and apprehensions about new technology. A quick scan of Swapalease.com reveals leases on Nissan LEAF's as low as $168 a month and up to $422 a month. A 2013 Toyota Prius was being offered on lease for the next 30 months at $218 a month from an owner in Tulsa. Sorry, but that deal's pending.
As Hall explains in our two-part Skype video dialogue, his company's online service facilitates the matching up of drivers wanting out of leases for reasons of life style change and/or economic circumstances. It also enables people looking to pick up an affordable lease to find those good deals, with the online service pocketing modest lessee and vehicle registration fees.
However, the key reason Hall and Consumer Reports, among others, recommend leasing an EV has to do with their still-uncertain economic value. With companies like Kelley Blue Book forecasting severe depreciation rates on electric cars, only temporarily investing in them could be a safer financial play.
Then there's the promise of newer, even more exciting technology offering greater driving range, safer operation, and even someday autonomous (auto pilot) capability. Locking yourself into a five-to-six year or longer payment forecloses taking advantage of those improvements when they come, lease advocates argue.
It should be pointed out that Hall's company practices what it preaches, operating a pair of leased Chevrolet Volts as company cars.
EV WORLD DIALOGUE - PART 1
EV WORLD DIALOGUE - PART 2
Originally published: 04 Mar 2014
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