Let's say he's not sure yet.. What are the advantages and disadvantages of a lease? How much more benefit is it buying now vs buying when the lease is up? Or returning it.Really depends on you; do you plan to keep the Bolt for years to come?
Looks like initial lease deals won't be so hot...only $2,500 lease cash. Buying seems to be the better proposition....at least until GM ups the lease incentives.Let's say he's not sure yet.. What are the advantages and disadvantages of a lease? How much more benefit is it buying now vs buying when the lease is up? Or returning it.
I'm in the boat that I just don't know what the future holds, but I want more bang for my buck too.
The chart posted above shows GM is using a 58% residual on a 3 year LT lease.Really depends on you; do you plan to keep the Bolt for years to come?
"could be" too high you mean cause if it has 90+ % of its new range left, it becomes a pretty compelling deal especially when considering you can take $1000-$1500 a year in fuel savingsThe chart posted above shows GM is using a 58% residual on a 3 year LT lease.
That means a three year old Bolt
A Bolt LT you can buy for $29,995 (effectively) will be valued at $21,747 in 3 years. My guess is that is waaaay too high.
I'll be leasing. At the end of the lease I'll offer what is fair market value IF I decide I want to purchase (more options will be available in the 2020 time frame).
The Fit EV is a lease only and cannot be purchased (like the GM EV1, BMW Mini-e and Active-e). It is titled, maintained and insured as an American Honda Fleet vehicle.Did you by any chance look at how much Fit EV's like yours are selling for locally?
Or you can adjust your withholding so that you pay $7500 less in federal taxes over the course of the year. Or about $312 a pay check if you get paid twice a month. That's what I intend to do.If you lease you get effect of the 7500 instantly. If you buy it you have to wait up to a year (or more) to get the credit.
Remember, in 3 years the federal tax credit will likely be history (at least for GM plugins). With the credit no longer available, don't be surprised to see resale values of Bolts and Volts actually increase. Probably nowhere near $7,500 but definitely should see a bump....maybe. At the worst, the credit expiring will not hurt used EV resale values.The above adjustment can only be done if there is enough taxable income to adjust. Thus of us who have modest pensions and modest savings have no choice but to lease. At least there is the option to buy afterwards, but GM is shafting us on that with the higher residuals, leaving us with 'perpetual leasing' as the only viable path. There is currently no good option for someone who wants to own a Bolt but doesn't qualify for the federal credit - and can't afford the car without it.