[Dan E]

So I've been obsessing a bit between both the Volt and the Bolt. Being a techy guy, I love the technology of these cars and that they're a preview of "the future." I did test drive a Bolt and liked the way it drove. With the phaseout of the tax incentive looming, I'm in a bit of a predicament on the timing of considering a Bolt. Where I'm at in MI, there are 0 Bolt or Volt Premiers for sale within 100 miles of me. When there are any, they're selling for full MSRP, sometimes more. I found a brand new, fully loaded Premier for 39K, which is about 5K under MSRP which is a great deal. It is out of state for me however and about 3 hours away. I also still have 18 months left on the lease for my 2017 Cruze, so with paying that off, that will run me about $4,500 in remaining payments to break my lease. I'm also not sure if I can turn it in to any Chevy dealer, or if it has to be the dealer I originally leased through? The dealer with the Bolt is also offering $1,500 off also for being a current Chevy Lessee through the end of the month. Given the state of the tax credit, if I want to get a decent amount back, I would have to purchase before September 30th. I estimate I'd be eligible to receive about $4,200 back based on my last year's taxes. On the other hand, the longer I wait, the less I will owe to pay off my Cruze. This Bolt is also a really good deal, and in the midwest they seem pretty hard to come across in Premier form. I'm stressing myself out wondering if I'm crazy to even consider paying basically 18 months of payments for a car I'd no longer own that has also been a really great, efficient car, but the tax incentive would basically make that a wash. Attached pic is the Bolt I test drove along side my 2017 Cruze Premier. What would you do?

 

[dbostrom]

Let alone MSRP discounts etc., if you take into account the tax issue it sounds as though you end up better off by terminating the Cruze lease; pay off the lease now and the tax rebate pays for that, pay "normally" and you end up with no Cruze and a smaller tax rebate, making the Bolt cost more later than now.

But it's been a long day and I'm certainly no expert.

Fun fact: the Bolt's air shutters were preceded by the Cruze Eco's air shutters. I learned that accidentally the other day.

 

[magrider]

IMO the financially prudent thing to do would be to wait out your lease. In 18 months, you will be able to get a 2017 lease return if you are still wanting a Bolt amid the wider array of EVs then.

Alternatively, my co-worker got a Model 3 Mid range while still on a BMW 3 series lease, and he mentioned he would try using some website to match him with people to take over his lease. You might want to look into this route if you really want a Bolt right now. I don't know what the website is called though, you'll have to do some research yourself.

 

[dbostrom]

Magrider makes a good point. Pride is an expensive thing; there's little case to make for a new vehicle unless you've got a rational need for it. Easily enough savings to out-perform a tax rebate.

 

[redpoint5]

What the financially prudent thing to do and what you want to do are two different things. Everyone on here will tell you the Bolt is a fantastic EV.

There will be less demand for the Bolt once the tax credit phase out hits in April. That leaves about $450 on the table if your $4,400 tax liability is accurate, but that gives you through September to take advantage of the remaining $3750 tax credit.

Then there's other options such as Nissan, which has quite some ways to go before they sell their 200,000th Leaf.

 

[Dan E]

It is really the uncertainty that drives me crazy and the timelines. GM may have some new EV's introduced by the time my lease matures on my Cruze, July 2020. They may not. The price on the Bolt may decrease after the tax credits go away. They may not. Economy could tank and make gas prices sky rocket and consequently, making the price for EV's go up even more as demand soars. It may not. GM's new EV's could be more obtainable for the middle class price-wise. They may be significantly more expensive than the Bolt. So many questions, too little answers. lol. Sigh. I suppose these are all "good problems" to have and first world problems.

 

[shocker]

What would I do? Wait out the lease because that the $ sensible thing to do. The price range for gas we pretty much know will bounce between $2 in the winter and touch $3 in the summer. Not a big deal for a 30 mpg car.
Console yourself knowing some of the waste heat from the ICE keeps the Cruze's cabin cozy and the windows defrosted. Also, the hot engine block does quite a bit to thaw the car if it's garaged.
18 months will be up before you know it. Patience.

 

[Packard V8]

Sometimes, depending upon your circumstances, a car buying decision doesn't have to come down to just what's the most cost effective. We'd wanted a BEV for three years, but there was never even close to a cost justification. Finally, we just did it and have enjoyed the luxury of being able to do what we wanted. The Bolt is just fun and practical.

A family member who's been in the retail car business all his adult life said, "Fortunately for us, car buyers don't wait until they just have to have another car. Most buys are on want, not need; without that, the car business would be small and unprofitable.

jack vines

 

[Bolterado]

Put your Cruize on swapalease with a cash incentive, even $2000 would still be better than just paying the lease off and having no car.