Loan vs. lease a Bolt? - Chevy Bolt EV Forum
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post #1 of 28 (permalink) Old 04-25-2017, 08:48 PM Thread Starter
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Loan vs. lease a Bolt?

I'm looking to purchase a Bolt but I'm struggling to decide between leasing or purchasing the Bolt. Given the high depreciation for the Nissan Leaf, I'm worried if Bolt would be falling into the same boat. If that is the case, then leasing is more attractive than purchasing.

How are you doing it? Did you lease or buy?

Thanks.
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post #2 of 28 (permalink) Old 04-25-2017, 09:56 PM
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buy not lease in our case

We'd leased two Leafs before arriving at the decision point you seem to be at. With the Bolt offering the range and EV technology it has, we went for purchasing.
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post #3 of 28 (permalink) Old 04-26-2017, 12:15 AM
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I leased my Honda EVPlus back in 1997 because there was no other option. They allowed me to renew the lease twice (for two years, then for one year). After CARB cancelled the zero emission mandate, they took it back in 2003.

When Nissan announced the Leaf, I signed up in May of 2010 and got my car in August of 2011. I wasn't going to let them take it away from me, so I bought it. Now my niece is driving it.

I put a deposit down on a Bolt in early November of 2016 and bought it in any art of 2017. GM won't take take this from me
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post #4 of 28 (permalink) Old 04-26-2017, 08:58 AM
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I often question this a lot myself as I haven't reached a decision yet.

For me, I think I'd go for lease (right now at least) because when the next "updated" Bolt comes out, I'll probably want that one and I won't have to deal with much other than returning the lease and getting the next one.
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post #5 of 28 (permalink) Old 04-26-2017, 11:21 AM
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Originally Posted by Electro View Post
I often question this a lot myself as I haven't reached a decision yet.

For me, I think I'd go for lease (right now at least) because when the next "updated" Bolt comes out, I'll probably want that one and I won't have to deal with much other than returning the lease and getting the next one.
I am waiting for lease numbers to improve for the same reason.
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post #6 of 28 (permalink) Old 04-26-2017, 12:21 PM
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I like to own because I don't like perpetual car payments. Buy the car with a loan, pay it off in five years and then drive it another five years with no payments. At the end of ten years, you still have a fully functioning vehicle you can sell for something.

Yes, in ten years time the EVs will be way better, but I figure that if the Bolt works for you today, it should work just as well for you ten years from now. (all battery degradation aside) I find people tend to be very optimistic and predict advances in batteries and EVs to be much more rapid than reality. All manor of miracles are predicted for 2020, but I'm skeptical and fully prepared to be underwhelmed by all the fantastic technological advances and wide variety of offerings.
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post #7 of 28 (permalink) Old 04-26-2017, 01:31 PM
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I like to own because I don't like perpetual car payments. Buy the car with a loan, pay it off in five years and then drive it another five years with no payments. At the end of ten years, you still have a fully functioning vehicle you can sell for something.
Yep, I totally agree with you. Buy it and then run it for as long as you can.

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...All manor of miracles are predicted for 2020, but I'm skeptical and fully prepared to be underwhelmed by all the fantastic technological advances and wide variety of offerings.
Changes are generally incremental and not particularly compelling from one year to another, but over a five year period all those changes add up. You just have to compare a current EV like the Bolt with one from 5 years ago like the Leaf to see how big those differences can get.
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post #8 of 28 (permalink) Old 04-26-2017, 01:56 PM
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If you live in central California it is worth to buy. It is $13,500 in rebates and credits for me. This makes the car about $25,000 and the depreciation doesn't hurt as bad. I have never leased, I always pay off cars within three years and enjoy time with no car payments.


The rest of California I would consider a lease, but only at payments around $300 a month and you are able to get the $2500 state rebate. BTW, don't expect the state rebate for about 4 months. I was finally approved with all paperwork submitted perfectly the first time after 5 weeks. However, I drive my car about 20,000 miles a year and would get killed on a lease. To be honest if you don't put much mileage on a vehicle you should be looking at a Leaf or a Volt. The Bolt is perfect for my 130 mile commute.


If you want a new car every three years a lease will be your best bet. Some people I know do this and love having new cars. Just do what makes you happy and what you can afford. I wouldn't worry much about the Bolt being outdated any time soon. 240 mile range can only be beat right now by cars that are $80,000. The Model 3 won't be able to be purchased until late 2018 or 2019 depending how production goes. If you didn't put a reserve on a Model 3 it might be 2020 before you can get your hands on one. The Nissan Leaf now knows there car has to get over 200 mile range, which I think may delay production for them. It was supposed to be out this year, but now it looks like mid 2018. The Bolt is years ahead of other cars and wont depreciate as much as you think in three years.
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post #9 of 28 (permalink) Old 04-26-2017, 04:04 PM
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Originally Posted by DaV8or View Post
I like to own because I don't like perpetual car payments. Buy the car with a loan, pay it off in five years and then drive it another five years with no payments. At the end of ten years, you still have a fully functioning vehicle you can sell for something.

Yes, in ten years time the EVs will be way better, but I figure that if the Bolt works for you today, it should work just as well for you ten years from now. (all battery degradation aside) I find people tend to be very optimistic and predict advances in batteries and EVs to be much more rapid than reality. All manor of miracles are predicted for 2020, but I'm skeptical and fully prepared to be underwhelmed by all the fantastic technological advances and wide variety of offerings.
Adding to that there's more confidence in buying it out right since Chevy has experience producing EV's. Historical data goes a long way, much harder to buy in when its the first of its kind, in this case its not.
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post #10 of 28 (permalink) Old 04-26-2017, 05:17 PM
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I tried to reply earlier, but it would not let me. Trying again. I leased my 2012 Nissan Leaf new. I am in Ohio, and getting one from a dealer in California. The amount of incentive Chevy is giving for Bolts is less than 1/4 what Nissan gave me back in 2012. So, I decided to go with purchase. More money than I wanted to spend, but it makes more sense to me financially. I figured when I purchased my Leaf back in 2012 that the technology would be significantly better, so I leased. It took two lease extensions for it to be better with the release of the Bolt, but hey, I wasn't ALL wrong...

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