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Discussion Starter #1
Hello everyone,

currently looking for a Bolt.

The offer I received today for a LT here in Connecticut seemed so expensive to me:

$359+tax/mo
36 month lease
15k mi/yr
$0 down
for credit tier 1 (which is now the right tier 1)
And this is already including the $3,000 CHEAPR Connecticut rebate!

For comparison, in July 2016, for my 2016 Nissan Leaf SV, I got
$160 incl tax
36 month lease
15k mi/yr
$2,000 down
for credit tier 4 (which added $40/mo to it)
Including $3,000 CHEAPR rebate
(I also could have done $225/mo with $0 down instead.)

So why is the Bolt so much more expensive than the LEAF?

My impression: the $7,500 is or is not forwarded to the consumer.

With the LEAF, there was $10,000 of NMAC lease cash. Plus $3,000 CHEAPR, plus dealer contribution, which brought the price down.

With today's offer with the Bolt, there was $1,500 lease cash from GM Financial, plus $500 competitive lease cash. So GM Financial gets $7,500 from the Federal Government, and then pockets $6,000 of that? Seems like a great lease deal for them, but not for the consumer. In case this is accurate, then buying would be the better financial proposition - but I am really looking to lease.

Does anybody know if this is accurate, that GM Financial just provides so little in lease cash?

Does anyone know, where to get cheap Bolt lease deals in Connecticut?

I know in Massachusetts, Quirk Chevrolet in Quincy often have amazing offers, but it seems like they do not have any 2017 left on the lot. And 2018s they ordered 48 of, but they did no arrive yet.

I found a Connecticut dealer that has LT Bolts that, according to Cargurus.com, are already on the lot for 210+ days. Might such a dealer provide a better deal, to move the unit?

Or maybe this really is not the time for $200/mo lease deals anymore, like they existed last year? Maybe should I wait a year, until the 200 mile LEAF or other 200 mile cars are out, and the additional competition brings down prices?
 

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I am not sure if you have driven it yet, but the Bolt is so much more car than the Leaf in my opinion, Active battery thermal management system, 200 HP and 266 lb-ft torque, great infotainment with Android Auto and Apple Car play, and of course the battery size / range, etc... I do not think that you will see direct price competition between the Leaf and the Bolt until the longer range Leaf arrives, just my opinion.

For good lease deals I follow this blog,

http://ev-vin.blogspot.com/2016/07/current-lease-offers-for-selected-evs.html

as a reference in NY, Van Bortel is currently advertising $269/mo sign and drive for a 10K miles/ yr lease (banner add in the top of page)
http://www.vanbortelchevrolet.net/
 

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Discussion Starter #3
Thank you for your quick response.

Yes, I am familiar with the EV Lease Deals webpage.

As you were able to see in past months, the Chevy Bolt EV LT was available at a price similar to or even lower than the Leaf, f.e. the $2500 down (including all taxes), $139/mo deals offered at Quick Chevy in Quincy, MA. As Massachusetts offers a EV rebate of $2,500, that comes out to effectively $139/month. A friend of mine from Boston took advantage of the deal in November. This is what I would be looking for.

Only, as mentioned, Quirk Chevy has currently sold all their Bolts in stock, so they are currently also not on the Charge/EV Vin lease deals page.

And, I have the challenge of being in neighboring Connecticut, which even has $3,000 of an incentive from the state, instead of $2,500 like in Massachusetts, only there seem to be no volume dealers like Quirk/Muzi/Mirak.

And maybe also GM adjusted the incentives for the worse now in 2018.

When it comes to the cars itself, I think the Leaf is so much more car than the Bolt except for range. In a climate like New England, the thermal management system doesn't make much a difference. In single digits weather, you have about 35% range loss both with the Bolt and the Leaf. The 2018 Leaf has Android Auto. Most of all, it has a real trunk, and 5 people can be transported comfortably. But the Leaf doesn't have 230mi range - yet. Due to range, I was looking for a Bolt.

If the federal tax credit was like the CT state rebate, so a point-of-sale discount that would actually be passed on to the consumer, then my lease offer I got today was similar to my Leaf's. $6,000 in extra discount equals about $180 in monthly lease rate, bringing it down from $359 to about $180. But with GM Financial pocketing $6,000 of the $7,500... oh well, their choice...

I will go and get a few more offers from the dealers that still have 2017 LTs on the lot for 210+ days now. Maybe there is some dealer willing to put a lot of cash on the hood, to mostly make up for GM Financial's low discount.

Otherwise, NMAC already announced $9,275 manufacturer’s rebate (aka NMAC lease cash) for the 2018 Leaf S. So hopefully, they will continue this when the 2019 Leaf comes out, which or some comparable offer I would fall back on, if GM Financial continues to be so stingy.
 

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That lease offer doesn’t seem very good, especially considering the $3k state credit.

I would contact the internet sales rep at a few other CT dealers and let them know the model and options you’re looking for, and see what they offer.

Some dealers actually want to deal, some don’t. When I leased my Bolt in NY one dealer couldn’t be bothered trying to deal, another worked with me to get a decent deal.

Shop around, and good luck.
 

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Discussion Starter #5
Update: Bob Valenti Chevy in Mystic, CT was able to offer the Bolt LT at a lower rate.

$266 incl tax/mo
36 month lease
15k mi/yr
$300 drive-off
for credit tier 1 (which is now the right tier, have tier 1 now)

This is already including the $3,000 CHEAPR Connecticut rebate!

January is also the last month, they said, that GM Financial offers leases for 2017s. After that (so starting February), it is purchase/finance only for 2017s. I don't know if this is accurate. They also said, so far they only did purchases/financing on Bolts in the dealership, never a lease. When GM Financial only forwards such a small fraction of the $7,500 federal tax rebate to the consumer, then it is no surprise, as then purchase/financing is financially advantageous (if one is considering keeping it long-term, and has a federal tax liability that is large enough).

Now if, f.e. at the end of the month, the Bolt comes down a little bit more in monthly price, I will obtain an LT Bolt. Otherwise, I will wait for the 2019 Leaf e-power with reportedly 220 miles in range. NMAC always at least gives the $7500 in federal tax credit as lease cash to the consumer, in contrast to GM Financial. NMAC often offers even more, f.e. $10,000 in lease cash, which should bring down the lease rates much more.

I am curious to see how this continues to develop.
 

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Update: Bob Valenti Chevy in Mystic, CT was able to offer the Bolt LT at a lower rate.

$266 incl tax/mo
36 month lease
15k mi/yr
$300 drive-off
for credit tier 1 (which is now the right tier, have tier 1 now)

This is already including the $3,000 CHEAPR Connecticut rebate!

January is also the last month, they said, that GM Financial offers leases for 2017s. After that (so starting February), it is purchase/finance only for 2017s. I don't know if this is accurate. They also said, so far they only did purchases/financing on Bolts in the dealership, never a lease. When GM Financial only forwards such a small fraction of the $7,500 federal tax rebate to the consumer, then it is no surprise, as then purchase/financing is financially advantageous (if one is considering keeping it long-term, and has a federal tax liability that is large enough).

Now if, f.e. at the end of the month, the Bolt comes down a little bit more in monthly price, I will obtain an LT Bolt. Otherwise, I will wait for the 2019 Leaf e-power with reportedly 220 miles in range. NMAC always at least gives the $7500 in federal tax credit as lease cash to the consumer, in contrast to GM Financial. NMAC often offers even more, f.e. $10,000 in lease cash, which should bring down the lease rates much more.

I am curious to see how this continues to develop.

I am not sure exactly why you are hung up on the amount of the $7,500 tax rebate. The only thing that matters in a lease deal is the total $ paid over the length of the lease. If your numbers are correct, that is only $9,610 for a 36 mo/ 15K lease on a Bolt LT. Assuming it has DCFC, that is a good deal IMHO.

I don't know what you currently drive, or what you will pay in fuel and depreciation for the next year and a half while you wait for the Leaf, but from someone that gets to enjoy driving a Bolt every day, that seems like a very easy decision to make...
 

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January is also the last month, they said, that GM Financial offers leases for 2017s. After that (so starting February), it is purchase/finance only for 2017s. I don't know if this is accurate. They also said, so far they only did purchases/financing on Bolts in the dealership, never a lease. When GM Financial only forwards such a small fraction of the $7,500 federal tax rebate to the consumer, then it is no surprise, as then purchase/financing is financially advantageous (if one is considering keeping it long-term, and has a federal tax liability that is large enough).

Now if, f.e. at the end of the month, the Bolt comes down a little bit more in monthly price, I will obtain an LT Bolt. Otherwise, I will wait for the 2019 Leaf e-power with reportedly 220 miles in range. NMAC always at least gives the $7500 in federal tax credit as lease cash to the consumer, in contrast to GM Financial. NMAC often offers even more, f.e. $10,000 in lease cash, which should bring down the lease rates much more.

I am curious to see how this continues to develop.
You do get the $7,500 Tax credit from GM Financial. While not applied as a CCR, it is used to lower your lease payments.

Relying on a dealership about a statement that pushes you to make a purchase decision "now" instead of "later"?
I'll defer to PT Barnum on that one.

If you think the 60 kWh 2019 LEAF will be anywhere near $260 a month (at least for the first 6 mos to a year) you'll likely be very disappointed. The 2018 LEAF S lease is $356/mo (When you factor in the large down payment). That's for a car with a $29,995 MSRP. The SV is $457/mo. These are 12K leases, the 15K you are looking for will be higher.
That does include the $7,500 tax credit, but does not reflect sales tax, licensing, nor the CT rebate.
 

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If you are in Canada there has been new raises on every mortgage, credit loans etc three times only this month.
I haven’t received my bolt yet and I bought a late 2017 and compared to my initial bill of sale I had to negotiate winter tires down, had to cancel life and disability insurances etc just to make sure the bi weekly payments stayed around $160 - and that is after putting $29000 down.

Sorry let me clarify: bolt ev late 2017 premier with all bells and whistles and extended warranties and winter tires.
 
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