Vincentric Names LEAF to 2014 CPO best value awards
According to Vincentric, a Michigan based auto data compiler, the Nissan LEAF has the lowest cost to own in the compact hatchback segment of all manufacturer’s Certified Pre Owned vehicle offerings. This class includes conventional gasoline powered cars, as well as the electric LEAF. In a crowded thirteen car field, the LEAF came in with operating costs 18.2 percent lower than expected due primarily to having the lowest fuel and maintenance costs in the class. We first wrote that Nissan placed the LEAF in their Certified Pre Owned program last year (found here). Information about the program can be found in that article.
Vincentric uses a set of eight data elements to determine cost to own:
- Depreciation costs
- Fuel costs
- Insurance
- Financing
- Repairs
- Fees and Taxes
- Maintenance costs
- Opportunity costs
All of these are pretty straight forward with the exception of the last – opportunity costs (unless you have a background in finance). Essentially, it is the loss of interest that you would have earned had you not purchased a vehicle. With current low interest rates on savings, we have to figure that this will be a relatively small factor now. Vincentric assumes the vehicle has been driven at the rate of 15,000 miles per year, and will continue to be driven at that rate over the next five years. With electricity costs significantly lower than gasoline costs, and the LEAF not carrying around many of the components found in a conventional gasoline powered car, it is no surprise that it leads in these two categories.
So – what does all this mean? It means what many of us LEAF owners have already known: the LEAF is an inexpensive car to own and operate. When you buy a LEAF that has been certified pre owned by Nissan you know that you’re getting an extended drivetrain warranty to provide additional peace of mind, in addition to a car that won’t break the bank down the road.