What other car would you lease for $485/mo? - Chevy Bolt EV Forum
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post #1 of 99 (permalink) Old 12-31-2016, 02:43 PM Thread Starter
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What other car would you lease for $485/mo?

Reality bites...

From my dealer, nearing signing time: $485/mo for a Bolt premier, 39 mo lease, 15k/year. MSRP. Includes the $2500 "tax credit" cash, includes the bank fee (595), does not include the DMV reg fee (4 year) (444) and first monthly.
About $30/mo less per 1000 down.

Currently, that puts the Bolt in the same league as currently published leases on the Audi A5 or Q5, Acura MDX and more expensive than a BMW 3 series and Lexus ES Hybrid.

Discuss.
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post #2 of 99 (permalink) Old 12-31-2016, 03:08 PM
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That is a very good question and I may need to start thinking about the answer to it too. Unless the Bolt grabs me on an emotional level next year when I test drive it there is no way I'm paying $485 a month to lease one. I want to go full electric now, but I don't have to and there are way too many great non-electric or hybrid options around $500 a month.
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post #3 of 99 (permalink) Old 12-31-2016, 03:26 PM
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That's why I'll be leasing an LT and adding some sort of aftermarket Surround View. I can't justify $500 a month. Maybe for a Tesla P90D, but not a Bolt.
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post #4 of 99 (permalink) Old 12-31-2016, 03:48 PM
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You also get the CA $2500 rebate, don't you? Can't ignore that.
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post #5 of 99 (permalink) Old 12-31-2016, 04:40 PM Thread Starter
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post #6 of 99 (permalink) Old 12-31-2016, 05:06 PM
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Originally Posted by Boltar View Post
Reality bites...

From my dealer, nearing signing time: $485/mo for a Bolt premier, 39 mo lease, 15k/year. MSRP. Includes the $2500 "tax credit" cash, includes the bank fee (595), does not include the DMV reg fee (4 year) (444) and first monthly.
About $30/mo less per 1000 down.

Currently, that puts the Bolt in the same league as currently published leases on the Audi A5 or Q5, Acura MDX and more expensive than a BMW 3 series and Lexus ES Hybrid.

Discuss.
What MF and residual on the lease they are proposing?

Gary
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Lease expires Jan 2017
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post #7 of 99 (permalink) Old 12-31-2016, 05:09 PM
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I admit I'm a little confused on the pricing myself. http://www.carsdirect.com/deals-arti...reen-car-deals says shoppers in California and Oregon can sign up to lease the Bolt EV LT from $359 for 36 months with $1,099 due at signing with an allowance of 15,000 miles per year...and that's certainly a deal I would take...but that's quite a bit lower than the actual price I was quoted. Sales tax accounts for part of the difference, and the dealer trying to sneak in a little bit of APR/money factor markup accounts for part of it, but...
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post #8 of 99 (permalink) Old 12-31-2016, 05:26 PM
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What sort of requirements are there for those other leases? Large down payment? Less than 12K miles a year? Do the cars have similar content? What's the cost per mile to drive those cars? Do those cars fit your lifestyle/driving style better?

Focusing on only the monthly lease payment is a mistake. You also need to consider the monthly and yearly operating costs. If you drive 15K miles a year, and currently drive a car that gets 25 MPG and gas is $2.50 a gallon, that's 10 cents per mile, or $1500 a year in gas. On the other hand, if you get 3.5 miles per kWh, and pay 15 cents a kWh, you end up paying only about 4 cents per mile, or about $650 a year, to drive the Bolt. That drops your monthly cost by $70 a month.

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post #9 of 99 (permalink) Old 12-31-2016, 08:17 PM
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Focusing on only the monthly lease payment is a mistake. You also need to consider the monthly and yearly operating costs.
True. In my case, eliminating gasoline, oil changes, and the odd mid-ownership repair would probably save me $100 a month, vs. the car I'm making payments on now. But in two years I'd own that car and have an asset...whereas trading it now for a leased Bolt would mean three years of payments followed by owning nothing. I'm trying to talk myself into it because I want (not need) a Bolt, but my last remaining fibers of common sense are being a real killjoy.
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post #10 of 99 (permalink) Old 12-31-2016, 08:24 PM
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On the other hand, since I retired I only drive about 2000 miles a year. That would go up a bit with a Bolt, but I wouldn't be saving a significant amount of money by driving one - I drive a Leaf now. I'll be looking for a 10k mile per year lease (or lower). Since I assume that GM self-insures against collision loss like Nissan, I'll also try to put down no more than $2k, because if the car gets totaled the down payment will (if I'm correct) be lost for me. Still, if it will cost me $400 a month to lease an LT with the options I want (and can get on the LT) I'll be looking at the Hyundai Ioniq and maybe one or two other EVs as well. I'll probably do it for $350, but no more.
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