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245 Posts
Discussion Starter #1
Because I know everybody loves to tell other people what to do with their money, I give you THIS!

I have a Bolt Premiere, loaded to the max, with nearly bald tires and average wear and tear everywhere else. Under miles on the lease, so that's OK.

I put $2,500 down on a credit card, Credit score 819

Gross capital cost: $44,503.98
Capitalized cost reduction: $3,681.70 
Adjusted capitalized cost: $40,822.28
Residual Value: $26,343.00
Depreciation: $14,479.28
Rent charge: $1,208.80
Total of base scheduled payments: $15,688.08
Number of payments: 36 months
Lease Payments: $435.78
GM Financial completely ate the tax credit and took me for a ride all the same. I'm not eligible for any state credits.

I like the car, and the extra 6 kwh on the battery on the 2020 does nothing for me, but the idea of adaptive cruise sounds awesome, if that's even a thing, along with the HD cameras, which as I get older, more exhausted and more stupider, all sound good. But my car is fine as it is. So do I buy it? Or should I get a new car? I like the premiere trim, but jesus, they're having sales on base 2019s for close to my residual!! Who knows what the sales will be in January? But I like my car and have had zero detectable range fade. Is there an actual case to be made for buying a new one? Or leasing a new one? Or just buying mine for the residual? I could easily drive it for another 5-6 years, by which time it will have over 100K on it and plenty of kid miles which are hard, maybe in 2025 there will be a ton of good cars to choose from and I should just drive this one? Who wants to weigh in? I can put down a big down-payment...


80 Posts
Thanks for asking this question! I have a leased Bolt and will be having to make the same decision in the near future. Here's hoping others will offer their experience. I searched for lease and the posts are about whether to lease or not versus whether to keep the lease or buy.

I do have to say that it doesn't look like the newer Bolts offer that much more. They seem to be pretty much the same, IMHO, at least for my needs. Nothing much new at this point, a new Bolt won't be a draw for me.

2,001 Posts
Used 2017 Premier goes for $20K retail, meaning trade-in of $15K. Don't think buying is a good option at this point unless you plan to keep it for a decade to recoup your purchase.

Another option is to turn it back in and then buying another EV out there. Hyundai Kona EV and Kia Niro EV are great alternatives and still offer $7,500 tax credit.

If your range is low and you are in CA or OR, there is a Hyundai Ioniq EV deal for $2500 down and $109/mo to end of October. That might be something to look into to take you to 2022 when even more options come available.

1,358 Posts
I think the cost analysis between leasing and buying doesn't show buying a car as a bad idea or one that you hold for a decade to recoup. I just don't see any purchase method for a car one that necessarily ends in recouping your purchase. Leasing a Bolt for 3 years, paying over $18,000 for the 'rental' is a different model than buying it outright. My friend who owns a few dealerships has even a wilder different interpretation to it. He says Leasing gives many the opportunity to drive a car they can't normally afford and it's a business model that is designed to trap you into future leases which is evident in how aggressive they are to get you out of it early and into a new one.......or it's for businessmen who use the lease as a tax write-off. I'm ok with leasing, didn't do it with my Bolt, did it only once in my life to get a car I couldn't afford outright, have paid cash ever since. I cash out my comp time at the end of the year for my major expenditures, almost like a bonus for those in corporate 'Merica.

1,459 Posts
Where do you live?
You can get a new egolf if you live in California, Maryland or Oregon for about $12k.
You mention you don't have state incentives so I would guess not but for others in a similar pickle, here's the link.
Doesn't have the range of a Bolt if that's important and it's charging speed is just as slow.

Depending on other incentives you may be eligible for, it could be had for around $6k.
Hard to imagine it wouldn't be worth what you paid 3 years from now looking at Leaf residuals.

Price Breakdown:
$33,475.00 MSRP
$23,500.00 Negotiated price ($11,000 off, please see attachment below)
-$7,500.00 Fed Rebate (Off your 2020 taxes)
-$2,500.00 CA State Rebate (other states higher or lower, check comes in mail)
$12,500 + tax title license

If you qualify for these, you get more off:

-$2,500.00 Employer Rebate (YMMV, this varies tremendously, if your employer gives an employee benefit for this)
-$500.00 Utility Rebate (locality specific)
-$500.00 College Grad (another $500 if you have graduated or will soon)
-$500.00 Partner Cert (if your employer is a partner, see below)
-$500.00 Military discount ($500) if active duty
-$2000.00 Low income varies state by state, in CA it is $2000
-$1000.00 Varies, s.d.g.e gives $1000 ( link [])
$6,000.00 total + tax title license Can be as low as this, for most it will closer to $10-12k total + ttl
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