Also notable is that the Leaf would require a special charging dock, which costs around $2,200 -- though a federal tax credit will also cover half of that. The Volt, however, can be plugged into a standard outlet.

Of course, the Leaf can boast zero tailpipe* emissions, but the Volt cannot.

Still, Affordability Matters

The Leaf will be available in some markets as soon as December. That's around the same time the Volt will hit the streets. At that time, the U.S. economy is still expected to still have pretty high unemployment and consumers will probably still be apprehensive about spending a lot on a new vehicle. So the Leaf's cheaper price tag could go a long way in giving Nissan a distinct advantage.

Think about the monthly payment for each. At the after-rebate prices listed above, with a 5-year loan and a 6% interest rate, the Volt would cost $628 per month. The Leaf's payment would be just $500 (including charging station). The Leaf also goes further on one battery charge, so its energy costs would likely be cheaper, since Volt owners would have to rely on gas whenever they drive more than 40 miles.

Leaf vs. Corolla

When the Volt news broke back in August, I explained why that price was still too high to be affordable for most Americans, even if you figure in the fuel cost savings. Let's do a similar analysis for the Leaf, compared to a Corolla. According to Nissan, the Leaf would get around 100 miles per charge, which should cost "less than $3." Since that's also about the current price of gas, we just need to consider the Corolla's gas mileage -- about 30.5 mpg (the average of its city and highway rates) -- and its $15,450 price.

Under those assumptions (and including the after-rebate charging station cost), the Leaf's break-even compared to the Corolla for total price, including power, comes after driving around 155,000 miles. For the Volt, that jumps to around 200,000 miles, given its reported 230 mpg estimate and assumed price of around $32,500 after rebate. Of course, both those estimates assume that gas doesn't increase in price more than electric power, which may or may not be true. If that happens, then fewer miles would need to be driven to make their purchases more cost-effective.

So for consumers who can stomach the 100-mile limit between charges, I think the Leaf should do quite well. Of course, wealthier Americans looking for a green vehicle might be willing to pay a higher price tag for the convenience that the Volt will provide through its hybrid flavor.

For the record: Nissan has been running a prominent ad for LEAF on this site.

*Another note: I added the word "tailpipe" here after receiving a few e-mails from readers who find this distinction important. Of course, the process for creating electricity for homes involves emissions, but the vehicle itself does not create emissions by burning gasoline. I never meant to suggest otherwise, but thought this fact was already generally understood. Sorry for any confusion.

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