2017 LT lease up in January. Options guesses? - Chevy Bolt EV Forum
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post #1 of 7 (permalink) Old 04-14-2019, 07:44 PM Thread Starter
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2017 LT lease up in January. Options guesses?

Hey folks,
I leased a 2017 LT in January 2017 for three years. The car has been great and I have no interest in revisiting gas stations. GM has been sending cryptic messages saying that they will soon be in communication regarding my options at the end of lease. This is actually the first time I've leased and I'm guessing my options are two-fold: 1) return car, or 2) purchase it. Purchasing will obviously be at a price they set and I'm assuming they will give me that option. Anybody have guesses as to what that number might be? Anybody get additional info from GM on their lease?
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post #2 of 7 (permalink) Old 04-14-2019, 08:29 PM
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The residual amount is usually listed plainly in your lease agreement. Usually it's not competitive with comparable used cars, at least that was the case with the 2013 Volt I leased.
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post #3 of 7 (permalink) Old 04-14-2019, 10:33 PM
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3) check a box to extend your lease up to 6 months
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post #4 of 7 (permalink) Old 04-14-2019, 11:11 PM
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When my 2015 Fiat 500e lease was up, the residual was so high, about $19,000. A good used 2014 Fiat 500e was selling for maybe $5,000 to $6,000, or so I had heard at the time. Doing a quick search, the 2015 500e's are running for about $9,000 now.

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post #5 of 7 (permalink) Old 04-15-2019, 10:59 AM
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There may be other factors worth considering too. If you are in California and you have CAV decals on your Bolt that are dear to you (allowing you to drive solo in the HOV lanes), consider returning your Bolt and getting another one. The CAV decals expire about three years after they are issued, so a fresh set may be worth it for you.

My Bolt's red CAV decals will expire at the end of 2021. I bought my Bolt (not a lease), so I will likely be sitting in traffic with all of the ICE cars after 2021, while the newer EVs go flying by me in the HOV lane.

2017 Arctic Blue LT, purchased 12/11/17, built in Nov 2017
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post #6 of 7 (permalink) Old 04-15-2019, 11:11 AM
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Buying an EV off of a lease would be a silly thing to do. The residual will be way too high for the vehicle. EV's tend to have high residuals to make the payments lower and won't take the $7500 tax credit into consideration. Once people start bringing back their leases back to dealerships in California, there will be some amazing deals to be had on Bolts! If Chevy are selling new Bolts for $30,000 here, you could get yourself into a used Bolt for about $15,000 for a standard LT version once they start to flood the market.
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post #7 of 7 (permalink) Old Today, 11:27 PM Thread Starter
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Lease end options

Thanks everyone. This gives a good outline. I'm going to see if I can extend it 6 months.
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