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Discussion Starter #1 (Edited)
I am contemplating the purchase of a Bolt but not sure if I want to buy or lease. I have never leased a vehicle before but think maybe it's the right option on the Bolt.

I stopped by the dealer over the weekend and they provided me with purchase and lease payments. I am also a member of a BMW forum (my other vehicle) and I know that dealer provided lease numbers tend to be very unfavorable to the lessor. As I am unfamiliar with leasing I am hoping I can find some advice in this forum (I'd be banished from the BMW forum if I asked about a Bolt lease there...lol!)

Here are the lease terms provided by the dealer. These were provided without running a credit check so I suspect they'd improve once done (I have excellent credit):
Price: $43,000.00 (Premier)
Dealer Handling: $499.00 (this will go away as I will never pay this)
Taxes: $3,359.92
Sub Total: $46,886.12
Trade in: $1,500 (yeah, right)
Total: $45,386.12
Lease information:
10K miles/year
36 months @ $0 down: $652.28
36 months @ $3K down: $559.95
36 months @ $6K down: $469.34
LEV: $25,880
While being unfamiliar with leases this doesn't appear to be a great deal. Any advice from the forum?

10K miles / year is a reasonable estimate as I have a second vehicle and I would be hard pressed to reach even this mileage. Not sure I'm willing to go with a fully loaded Bolt, LT is something I'd consider.

I'm in Colorado so $7.5K federal and $5K state tax incentive would be available. Sales tax rate is 8.1%
 

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These are some pretty horrific deals. All the Chevy online prices in Colorado seem to be at or above MSRP. I would wait if I were you. Chevy is in between 2017 and 2018 models and the inventory is low. Once the 2018 models come in from transit and the Nissan Leaf gives some competition, prices will start to drop. That lease price is insane BTW. Here in California there are places you can lease for under $200 a month.
 

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Run away!

Those lease estimates are horrific.

For not much more than those sky-high estimates you could BUY the Bolt.

By the way, in CO the lease tax credit is $2,500, not $5,000. The $5k credit only applies to purchases.

I took a quick look at the TrueCar pricing, and they’re showing an average $2,600 discount vs MSRP, not MSRP + $500 “handling”. I used the Denver ZIP to get that estimate.

As DiscoDan mentioned, there may be a temporary inventory shortage that’s keeping prices high, or you may have simply encountered a dealer who quoted a really lousy deal.

I would recommend doing your shopping online. Spec out the exact car you want including color and options, and email a few dealers for lease quotes. To keep it simple ask for 36 mo, 10k per year, zero down, nothing due at signing except first month’s payment.

Remember, the federal tax incentive of $7,500 goes to the leasing company, not the leasee. You would be eligible for the $2,500 from CO, which is worth about $70 a month on a 3 year lease.

Good luck!
 

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Discussion Starter #4
Thanks for your feedback guys. I didn't think this was a good deal but horrific wasn't what I was thinking either. It appears Chevy dealers are just as bad at lease terms as BMW dealers. The salesman even played the old "Jimmy in the backroom wants to buy your trade in" puffing. They even wanted to discount my trade because it was "faded" (they call it faded, I call it dirty from the recent snow storm)

Regarding pricing, I haven't begun to negotiate as I am just starting out on my journey to possibly obtain a Bolt. IMO the real negotiation comes when I am ready to move forward and I love the negotiation process (I have no problem walking away).

The vehicles in question are 2018 model year and are, at this time, unspoken for. Thankfully I think I have some great leverage being in the Denver metro area so competition should be good.

All that said what are some recommendations on pricing, money factor, etc? I have excellent credit so that should not be a problem. I have no issues with waiting (I'm still undecided if I even want to move forward with a Bolt, great car but some concerns). It'll have to be a solid deal for me to move forward.

Having said that purchase isn't out of the question either.
 

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I was considering leasing too, and I have never leased a vehicle either. The dealer told me that the cost of a three year lease is about half the price of the car purchased new. EVs don't hold their value, because of the battery life issue. And as mentioned above, the federal tax credit goes to the leasing agency. Yeah, I ended up buying my Bolt.
 

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I was considering leasing too, and I have never leased a vehicle either. The dealer told me that the cost of a three year lease is about half the price of the car purchased new. EVs don't hold their value, because people are scared of the battery life issue. And as mentioned above, the federal tax credit goes to the leasing agency. Yeah, I ended up buying my Bolt.
Fixed that for you :) The Chevy Volt, Tesla's, and other batteries that use active thermal management cooling haven't had the issues that many people expected. Heck, even the newer Nissan Leaf's with passive cooling have faired much better. When the Chevy Bolt are returned from leases 2 years from now it will be a great value! I had no option but to buy since I put 30,000 miles a year on a car. With the $12,500 you are getting back, if you can get the car for $4000 under MSRP I would go for the purchase.
 

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For my previous EV, the Fiat 500e, I am glad that I leased at 15k miles per year, because although my commute is not very far, after 2 years and 10 months I ran up 40k miles.

By the way, you can purchase a 3 year old Fiat 500e lease return for about $7,000.
 

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I was considering leasing too, and I have never leased a vehicle either. The dealer told me that the cost of a three year lease is about half the price of the car purchased new. EVs don't hold their value, because of the battery life issue. And as mentioned above, the federal tax credit goes to the leasing agency. Yeah, I ended up buying my Bolt.
Yes, the Fed tax credit goes to the lessor, but that lowers the lease cost. Also, not everyone has $7,500 in federal income tax liability, and the tax credit is not refundable and any unused portion is lost as it does not carry-over into the next tax year.

As for the three year lease cost being half the MSRP, that may be true for a very high mileage lease, but my three year lease cost was $11,500, including all lease payments and my down payment, and many leasees have gotten even better lease deals. That’s less than 30% of the MSRP of my Bolt LT.

Leasing isn’t for everyone, just as purchasing isn’t for everyone, but it can be attractive, especially if you’re going to lose all or part of that $7,500 credit at tax time.
 

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pe1979 Go to John Elway Chevy. I am headed up there this week. I was able to get an LT for $0 down and just over $360 a month for a 3 year lease. 10K miles. I have been hounding them since last week to match a deal that I saw at Quirk Chevrolet in Mass. They couldn't match it, but they got me a deal I can live with.
 

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Just picked up a 2017 Premier with DCFC and the two option packages.

3 year lease
15k miles/year
$2000 out the door
$399/month including tax

Dublin Chevrolet in Northern California
Salesperson was Seth
 

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It seems to vary a lot state by state and even month to month, but those numbers are terrible. You should be able to get a 10,000 mile per year lease on a well equipped LT with all the important options for less than $10,000 total 3 year lease cost not including tax and licensing. If you put $2,500 down, which is equal to your state rebate, your monthly lease cost should be around $200. However you organize it, focus on the total 3 year lease cost when negotiating. Ignore everything else.
 

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Discussion Starter #12
Thank you all for your advice. I had a feeling it wasn't a good deal but, based on the feedback I received, I didn't think it was a terrible deal. I suspected the dealer was being shady: They played that game where several of the dealers employees wanted to buy my current car. They dinged my trade in $500 for being "faded". What they're calling faded I am calling dirty. They also wanted to charge me another $150 for detailing. For $150 I'd be happy to vacuum it. An additional $250 for an inspection (I'm fine with the condition of my vehicle so I don't need an inspection, if they want to perform an inspection for their benefit that's fine...I'm not going to "pay" for it.

Ultimately I stopped by to take one for a test drive and I was able to do so. If I decide to move forward I think I will take the advice and stop by John Elway. They've treated me well in the past.
 

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For true. The OPs experience is much the same as mine. Other than some reported great deals in CA, in most other states, the lease deals from the GM website and from the dealer are just no way, no how screw jobs. They obviously have no interest in leasing the Bolts. When BMW will lease an i3 with a much higher MSRP for much less per month than GM will a Bolt, it just shows who wants to move units.

jack vines
 

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I test drove an LT today and the lease that they offered me was surprisingly high.

List: 39,690
-costco saving
Sale price 38,327

$3500 down
$470/month 39months

This was in Cleveland OH metro area.

Needless to say, I didn't get it.

I loved the car though.
 

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I am in Maryland, looking into a Bolt 2Lt lease with 12,000 miles per year. I previously leased a 2012 leaf as well as my current EV a Spark EV 2Lt. In each of the previous cars the Federal tax credit was deducted from the price of the car. The first dealer I have contacted says GM is keeping the Tax credit as additional profit on a lease. The monthly lease payments would be in the expected $250-$350 range if the tax credit was taken off the price. This is not in the spirit of the Federal tax credit. The tax credit was designed to help the fledgling electric car revolution get off the ground by enticing people to give the EV's a try. It appears to me, that GM has corrupted the tax credit and is using it to line their own pockets. Shame on GM who took millions of our tax dollars to stay afloat and now is cheating us out of a tax break we were supposed to get for being early adopters and helping to build a new kind of car industry.
 

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Mitch D I agree with you in general. I will say in GMs defense that I am guessing that perhaps this is a risk mitigation strategy around the residual value when the lease is returned. I know as a former Leaf leasee that Nissan took a bath on their leases in GA and were doing anything they could to get me to by off the lease. The only positive for owners like myself is that it probably means that these cars may have a higher residual if the market is not flooded with cheap leases. On the other hand I am more than happy to take the hit on the residual if it goes towards mass adoption!

On a related note I would be curious to know what folks on this forum think the residuals on these cars will be in 6 years. The Volts look as if they have actually held value and I am curious what people in this forum think.
 
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