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Did you return or buy the lease?

  • I returned the lease.

    Votes: 10 90.9%
  • I bought the lease.

    Votes: 1 9.1%
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Discussion Starter · #1 ·
If you were a lease owner of Chevy Bolt, can you respond whether you returned or bought the Bolt lease at the end of the lease? If you bought the car, how much did you pay? Thanks!
 

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My three year lease ends this August. Buy out price is $23,000 IIRC which is way above average for a 2018 Bolt LT.
 

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The question might be:

Is your lease return residual more or less than the NADA/KBB average retail?

Every one I've seen has been higher than the book/current retail. Most lessees opt for a lower monthly and then complain because the residual is so high; human nature, one supposes.

The consensus here is it's currently better to buy a new one.

jack vines, who won't be doing either. We still love our 2017.
 

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My 2017 lease was up this past August. The residual was around $24k IIRC, and there's no way I was going to pay that even though I loved the car.

Instead, I financed a 2020 primarily because NJ was giving a new $5k rebate, GM made my favorite color an option this year (cayenne orange metallic), and I wanted the slightly larger battery. I'm planning on keeping this one for a while.
 

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We have two years left on our 2019 Bolt lease and have every intention of turning it in. One of the reasons we lease is to get the latest technology every 3 years and keep enjoying a new car.
 

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... Most lessees opt for a lower monthly and then complain because the residual is so high; human nature, one supposes.
I leased my 2018 LT with no intention of purchasing it. I'm glad my residual was high ($22,600) because it made my "rent" payments low.

I've enjoyed the car but it's just not my style. I'll give it back to the dealer in March and move on to another EV.
 

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New Premiums are selling between $24,000 and $28,000 depending on dealer. Even if you have to drive 800 miles to get one. I would turn the car in and buy a new one if you still want a Bolt.
 

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My lease on a '17 Premier was ending in October. The residual was far higher than the value. I loved the car and it fit our needs for a 2nd vehicle, but I had some hesitancy about the long-term reliability. With the higher GM incentives, the difference between buying the '17 and a new 2020 Premier was only a few thousand dollars, so we jumped into one.. I looked at the other EVs currently available, and none made a lot of sense. Our travel vehicle is a 2018 Lexus NX Hybrid, with a lease ending in May. In a few months,we ma take a fresh look at some of the newer EVs, such as the Ford Mustang Mach E.

Ron
 

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We have two years left on our 2019 Bolt lease and have every intention of turning it in. One of the reasons we lease is to get the latest technology every 3 years and keep enjoying a new car.
Yes, No, Maybe. We have here another thread detailing the grief a forum member went through trying to return his 2017, settle with GM Financial and get settled in a 2020. Reading that reminded me of why we'll most likely be keeping ours. 2017 Bolt lease purchase recall saga

If we'd leased our 2017, it would have been due for return back in April. There's nothing on the 2020s sufficiently improved to be worth the friction inherent in returning the present car and settling in another car.

Your results may differ, but it usually takes me six months to get over the agony of the trade-in/lease return dealership hassle, the insurance hassle, the title transfer hassle, the wi-fi setup, the On-Star setup, programming radio stations.

jack vines
 

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Yes, No, Maybe. We have here another thread detailing the grief a forum member went through trying to return his 2017, settle with GM Financial and get settled in a 2020. Reading that reminded me of why we'll most likely be keeping ours. 2017 Bolt lease purchase recall saga

If we'd leased our 2017, it would have been due for return back in April. There's nothing on the 2020s sufficiently improved to be worth the friction inherent in returning the present car and settling in another car.

Your results may differ, but it usually takes me six months to get over the agony of the trade-in/lease return dealership hassle, the insurance hassle, the title transfer hassle, the wi-fi setup, the On-Star setup, programming radio stations.

jack vines
Wow, personally it takes me about 6 minuts to get over the dealership process... so for me it is a no brainer to turn in a lease vehicle that has much higher residual than its current value on the open market. If I was going to go through 6 months of agony from the process my answer would be the same as Jack's.

Keith
 

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Same story here. I am leasing a 2020 Bolt Premier. With factory and dealer incentives, it would have cost $30k to purchase it. However, the lease buyout is 50% of the bloated $44k MSRP. In 3 years this car will not be worth anywhere near $22k, so I will be turning it in. I would have bought it if had a better DC fast charging rate and curve. If the 2023 model has 300+ miles of range, 120 kWh+ charging rate, better seats and competitive pricing I will consider buying it.
 

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Assuming you still like your Bolt, I'd suggest turning in your leased vehicle and buying a gently-used non-recalled Bolt as a replacement. Given lease buyout prices vs. actual value for used EV's, it's probably the only move that makes sense.
 
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