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A lot of the people here seem to have leased theirs. I was just wondering who else bought their Bolt and their reason for buying versus leasing. For me, the three-year lease price I was offered was almost half the purchase price so I decided to buy. If I get more than six years of use then I would get to the break even point. Since I keep my cars for ten years or more I thought this would make better sense for me.

I did look closely at leasing and was sorely tempted to do so because of advances in battery technology in the next few years. But then I found myself satisfied with the Bolt's range as it stands.

No, I'm not trying to start a buy versus lease war, just curious why others bought their Bolt notwithstanding the large crop of EVs coming up from other automakers.
 

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I bought my Bolt, not leased. I did so because I hate perpetual car payments and restrictions. I plan to keep the Bolt ten years (or more) as I have done with all my other new car purchases. I put a sizable down payment, so this means I will have relatively low monthly payments for five years and then the next five years no payments. At the end of that I will sell the Bolt for whatever it's worth (it will be worth something) and be ahead vs. leasing.

Many have the need, or desire to have the latest and greatest, so they figure that BEVs are evolving fast and in just a few years there will be even better electric cars available. I agree that this is likely, but I have to ask, if the Bolt does the job well now, why wouldn't it in the future as well? We'll see. If after 5-7 years the Bolt starts to nickel and dime me, or lose a lot of range, or annoy me in some way, I may buy again and break the ten year cycle. It's not set in stone, just a goal. I could also be tempted by something substantially more awesome, who knows??:laugh:
 

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I bought mine because I hate monthly payments, dislike paying interest or profit when I don't need to, and to incent myself to keep the car for longer than I might otherwise.
 

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I leased as the total ownership for the 3 year lease comes out to be roughly under $11K total. With the subsidized charger at work, I am paying 15% of what I was paying for gas on a weekly basis. I just sold my ICE car recently.

The EV industry is changing so fast , I figured in 1 to 2 years, there would be another hot car , just like the hot bolt that I have now for a month now. Loving it. Was really looking for a 2 year lease but Chevy only offered 3 years.

If I can get a similar lease 3 years later with the latest model at that time, I would be go with the lease again. In the past, I do keep my cars for 10 to 12 years. So in 12 years , I would of leased 4 different EV but paid total of about $44K total. This is a more enjoyable experience for me.

Others with long commute would not have this as an option. My lease only covers 10K miles per year. My short commute to work one way is less than 9 miles so it works out in my situation.
 

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Bought mine. In BC the straight up lease rates were terrible and I wasn't about to put $5000 down (hurray for scrap-it) on a car that I was going to give back in a few years. Also I plan to rack up the KMs on this car to save fuel costs in my wife's car, so that would drive up the price of the lease.

I will admit though that the thought of shopping for a new EV in 3 years was tempting as there would be many more options available at that point, particularly ones with adaptive cruise control. I'm happy with my car though, should be a good long-term ride in our family after I correct the seat situation.
 

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:)Last four vehicles have been leased. Two of those four have been 100% EVs. No desire or incentive to keep any vehicle long term. Best example, when I dropped off my leased 80 mile EV range BMW i3 and now have a 240 miles plus range Chevy Bolt. Leasing isn't for everyone.
 

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For me it was all about the tax credit. The sucker is going to be gone and soon so I got a $43K car for $30K (after talking the dealer down to $37.5K on my Premier with both the DCII, Infotainment, and Fast Charge packages). While battery technology will surely get better and range will increase with a Level 2 home charger I don't really need any more range and as DCFC become more prevalent and cheaper (I anticipate competition will bring down the going rate in my area of $9.99 for 30 minute charge). I seriously doubt that costs will drop enough that you will be picking up this well optioned of a car at $30k anytime soon. The only people that may see that happen are CA residents as the state has been very generous with incentives but here in IL forget about seeing any state incentives at all to make up for the lost federal incentive.

IMO by the time we get to battery tech (high capacity capacitors or something of the like) where you can "fill up" your car in less than 5 minutes AND the cost is not prohibitive (I know the tech is out there but just very expensive right now) the whole idea of individuals NOT owning cars (because we will all just summon a self driving car to take us places) may be close enough to reality that the Bolt may actually be my last car purchase.
 

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I bought for many of the same reasons listed above. I looked into leasing, but the tax credit went to the lessor and NOT all of it was applied to my lease payments. Plus, my research showed that mileage limit (12K/yr or 15K/yr) overages, tire wear, and "damages" (wear and tear) OFTEN make costs much higher than planned. Being >70.5 years old, I MUST make mandatory withdrawals from my retirement funds, on which taxes due will be reduced by the tax credit.

I paid for the EV fully on purchase, hating those monthly payments, and realizing the benefit of holding on to your money is less desirable when investment interest rates are so low. Being a "smuggler" (legally buying in one state and transferring title to another) I am sure that financing would have been a hassle. Lastly, I am free to make modifications (such as a bike rack hitch or a roof rack), or interior changes, which you are not free to do in a leased vehicle.

When you are as old as I am, you don't fret over not "haggling" the price down by $500. They were still pretty rare in MD, where I bought, and they had more buyers than vehicles, especially with the trim & options I wanted. I got my Bolt 6-8 months ahead of other West Virginians (I MAY have the first Bolt in the State, but this is NOT verified). This was worth paying a little more than I might have. PS. I did not want the sound upgrade and the dealer discounted this amount without my even asking for it. They got what they wanted. I got what I wanted. I guess that is the essence of a "deal".

If tech advances are that great over the next 3-4 years, I will accept the depreciation loss and buy anew. (At this time, it would be another Bolt, but I am open to following my heart as well as my head.)
 

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Purchase for all the stated reasons

Never leased a car. When employed my commute is 140 miles RT, and no lease will allow such mileage on an annual basis. I averaged 36,000 miles per year when full time. Put 360,000 miles on a Yukon at one point. So, Bolt allows me to drive round trip on one charge. That is why I purchased it. I intend to see how long it lasts.
 

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i bought mine as well. could have paid cash, but i got a rate of 1.5% from my credit union, so i'll keep the money invested and make payments. i hate payments though, so i'm paying an extra $200/month just for fun. maybe i'll just pay it off if i get too tired of the payments.

anyway, as others have said, i don't have to worry about how many miles i drive since i own it, and i intend to drive the heck out of it. i'm on pace for 12k miles/year even though my commute is only 5 miles.
 

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We bought ours. Never leased before. Traded in a 2001 Civic, and still have a 2004 CRV... so we like to get our cars paid off and drive them to the ground. My wife waited patiently for the last few years... carting that Civic around... for an EV with enough range and the BEV is perfect. We're not worried about batteries/range getting better, the BEV is plenty for now, and when the CRV craps out then we can buy the next latest and greatest. Can't wait to get the tax credit and dump it right back into our loan.
 

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I purchased mine. This was the first time ever I seriously considered leasing, for much the same reason that others have. EV technology is moving quickly, and chances were strong that something extra cool would be out in a few years. My other car is 18 years old, and the one I was replacing was 20, so I keep my cars for a good long time, and leasing never made sense for me.

The lease rates offered last February were terrible (despite the discount I got on the price, and it annoyed me that the consumed most of the Federal Tax credit), and I think that completely new battery chemistries are a ways from production. I think that fully autonomous modes are further away that we hope as well, so I would get more than 3-5 years out of the vehicle. If I'm wrong, we'll have another car that needs replacing in a few years.
 

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In the last decade I have acquired 5 EV vehicles, I leased 3 EVs, bought 2 EVs (1 used), every leased EV was available at a substantially lower price at the end of lease (2 of 3 Bolt only 7 mos. old), (hence why I bought 1 used EV paid about $4k). If your miles are not initially excessive - to me lease makes most sense.

-1-;16 7394 said:
:)Last four vehicles have been leased. Two of those four have been 100% EVs. No desire or incentive to keep any vehicle long term. Best example, when I dropped off my leased 80 mile EV range BMW i3 and now have a 240 miles plus range Chevy Bolt. Leasing isn't for everyone.
 

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Do 3 year leases usually cost less overall than purchasing an EV and selling (private party) in 3 years? How about for conventional vehicles?
its often very hard to sell a used car after just 3 year. Either you sell it to the dealer whom rip you off by low balling you or you need to sell it yourself by owner. Its actually very easy to sell it yourself when the car is below $5K. I sold my ICE car in 2 weeks. Anything that is asking for $20K or more is very hard to sell online.
 

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There's an argument for both leasing and buying, generally if you drive a lot 15k+ yr considering the tax credit it may make sense to purchase. In my case we decided on the lease since we drive 10-12k mile a year and our total payments came out to be about $11,471 - $2500 CA state tax credit and $450 SCE credit resulted in total ownership cost of only $8521 for 36 months or $237/mo. These cars will depreciate very quickly, so if you plan on owning you better just drive it into the ground. Even the finance guy was like shaking his head at the thought at purchasing the car after a lease and agreed that the lease was better way. The other reason is that there will be better options available in 3 years with fewer compromises in terms of space and looks, performance. I'm really waiting for more SUV/crossover EV options like the Tesla Model Y that is coming out in 3 years.
 

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The finance guy makes no money if you purchase.
good point, questioning their motivations behind whatever is mentioned often gives you more of an answer than anything else from what i have noticed, at the end of the day these people want to get paid after all.
 
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