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Discussion Starter #1
馃槩 Wrote my sales person stating that I would like to buy my Bolt when the lease is up in December but for a fair price not for the rest of the full price of the new Bolt. Also I said that I planned to wait for not too long a time for GM to build a Bolt with properties similar to a Tesla. At that point I would swap the old for the new. What looked like a standard reply came back saying that I had signed an agreement... A separate note came from the salesperson, in fact a very nice note, saying things like this is a rule and we must follow it. I have a very good feeling for the sales person.

I plan to purchase a Tesla model 3 within the next couple of days. I still really like the Bolt and will miss it.

Bob
 

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This is a really odd post. Your lease isn't up until December, but you're trying to buy it out now for a "fair price"? But because you can't, you're going to buy a Tesla Model 3 in the next couple of days? So what are you going to try to do with your Bolt EV lease that isn't up until December?
 

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If you really like the Bolt, why don't you wait until Dec and see what kind of deal they will offer if you want to buy it. It's way too early to do that now.
Also, if you turn your Bolt in now, you will owe the rest of the lease payments through December.
 

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The residual on your lease contract is the agreed upon purchase price at lease end. If you don't like it, don't buy it at that price.

A quick search at https://www.cars.com/for-sale/searchresults.action/?mdId=36274172&mkId=20053&page=1&perPage=20&rd=99999&searchSource=SORT&sort=price-lowest&stkTypId=28881&zc=00001 shows tons of used Bolts. Perhaps one will be more to your liking in terms of price?

Someone else will have to speak to GMAC's lease end process and the dealer's/salesperson's involvement in terms of purchase. I have no idea since I've only ever leased once and it was a Nissan. I didn't buy at lease end and NMAC process has changed completely since 2015.
 

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GM Financial doesn't negotiate lease buyouts. Third party leading companies did but when all leasing switched to GMF that went away. Enjoy your Model 3. Personally, I have to wait on a Tesla till they figure out there quality issues.
 

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Discussion Starter #7
GM Financial doesn't negotiate lease buyouts. Third party leading companies did but when all leasing switched to GMF that went away. Enjoy your Model 3. Personally, I have to wait on a Tesla till they figure out there quality issues.
 

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Discussion Starter #8 (Edited)
If I had known all these things in the beginning I would have paid cash and gotten the government money and I just assumed that the price would go way down and if I leased I would get a deal. With my leaf I did the opposite and paid cash and should have leased. Answers to other questions:

0. I don't want to learn to run a Tesla in the winter time in Maine.

1. I've been told that Tesla will take a leased car and I am currently checking if this is true. If it is not then I will wait until later in the year to do the deal when there is still fairly good weather here In Maine.

2, I'm told that the GM rule will still be in affect at the end of the year.

3. Indeed I regret leasing.

4. It may be irrational but I really want a model 3 now. It is the only thing left on my bucket list.
 

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I too had heard that Tesla will not allow you to buy the Model 3 after lease expires. The reasoning was to build up their internal robotaxi fleet at a lesser cost.
Wouldn't surprised if GM does something similar with the Cruise Origins robotaxi division.

I would just buy the Model 3, resale values are best in industry so lease residual would be high anyway. The big question mark is battery tech Osborning the current lineups. That's something that OTA can't update.:D
 

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4. It may be irrational but I really want a model 3 now. It is the only thing left on my bucket list.
Yep, that's the reason most of us buy our favourite toys :D
That's exactly why I bought my Bolt, even though I already had a Prius C that I was quite happy with...
 

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If I had known all these things in the beginning I would have paid cash and gotten the government money ....
I think everyone here covered all the points I was thinking but I will add one more. The terms of the lease were in the contract that you signed. You should always read what you sign to a reasonable degree, if not in entirety. Leases exist for a specific group, a specific financial situation and to solve a specific problem versus conventional car purchasing. You can't benefit from the front end element of the lease (low monthly payment) and then expect the lender to roll like a log when you get to the back end.

I'd order a Model Y and skip the 3, have you fully researched the two to see which one is best for you? I was going to get a Y but on a whim bought a boat so I'm going to have to wait 1-2 more years.
 

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The terms of the lease were in the contract that you signed. You should always read what you sign to a reasonable degree, if not in entirety. Leases exist for a specific group, a specific financial situation and to solve a specific problem versus conventional car purchasing. You can't benefit from the front end element of the lease (low monthly payment) and then expect the lender to roll like a log when you get to the back end.
Yes, No, Maybe it's not always that the lessor actually nets the residual; often the car sells for much less. I've documented rare instances when the lessor (BMW in this case) did renegotiate the residual in favor of the lessee. I've also documented instances where the lessee had a high residual but countered with current KBB trade-in for his lease return car and was turned down. The car then went through Mannheim where it sold for $5,000 less than the lessee offered. When he asked the dealership lease manager why they'd choose to lose money like that, he was told, "The leasing company bundled your lease with hundreds of others and sold them to Chinese investors. We haven't owned your car since you signed the papers three years ago."

jack vines
 

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I think everyone here covered all the points I was thinking but I will add one more. The terms of the lease were in the contract that you signed. You should always read what you sign to a reasonable degree, if not in entirety. Leases exist for a specific group, a specific financial situation and to solve a specific problem versus conventional car purchasing. You can't benefit from the front end element of the lease (low monthly payment) and then expect the lender to roll like a log when you get to the back end.

I'd order a Model Y and skip the 3, have you fully researched the two to see which one is best for you? I was going to get a Y but on a whim bought a boat so I'm going to have to wait 1-2 more years.
Have you heard about the 2 happiest days of boat ownership?
 

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Have you heard about the 2 happiest days of boat ownership?
Every boat owner has heard that one. If true, it only means they bought the wrong boat. I can assure you I have had much happier days using any boat I have owned (and I've been through a few) than the day I bought it or the day I sold it.
 
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