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Discussion Starter #1
Reality bites...

From my dealer, nearing signing time: $485/mo for a Bolt premier, 39 mo lease, 15k/year. MSRP. Includes the $2500 "tax credit" cash, includes the bank fee (595), does not include the DMV reg fee (4 year) (444) and first monthly.
About $30/mo less per 1000 down.

Currently, that puts the Bolt in the same league as currently published leases on the Audi A5 or Q5, Acura MDX and more expensive than a BMW 3 series and Lexus ES Hybrid.

Discuss.
 

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That is a very good question and I may need to start thinking about the answer to it too. Unless the Bolt grabs me on an emotional level next year when I test drive it there is no way I'm paying $485 a month to lease one. I want to go full electric now, but I don't have to and there are way too many great non-electric or hybrid options around $500 a month.
 

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Reality bites...

From my dealer, nearing signing time: $485/mo for a Bolt premier, 39 mo lease, 15k/year. MSRP. Includes the $2500 "tax credit" cash, includes the bank fee (595), does not include the DMV reg fee (4 year) (444) and first monthly.
About $30/mo less per 1000 down.

Currently, that puts the Bolt in the same league as currently published leases on the Audi A5 or Q5, Acura MDX and more expensive than a BMW 3 series and Lexus ES Hybrid.

Discuss.
What MF and residual on the lease they are proposing?
 

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I admit I'm a little confused on the pricing myself. http://www.carsdirect.com/deals-articles/best-green-car-deals says shoppers in California and Oregon can sign up to lease the Bolt EV LT from $359 for 36 months with $1,099 due at signing with an allowance of 15,000 miles per year...and that's certainly a deal I would take...but that's quite a bit lower than the actual price I was quoted. Sales tax accounts for part of the difference, and the dealer trying to sneak in a little bit of APR/money factor markup accounts for part of it, but...
 

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What sort of requirements are there for those other leases? Large down payment? Less than 12K miles a year? Do the cars have similar content? What's the cost per mile to drive those cars? Do those cars fit your lifestyle/driving style better?

Focusing on only the monthly lease payment is a mistake. You also need to consider the monthly and yearly operating costs. If you drive 15K miles a year, and currently drive a car that gets 25 MPG and gas is $2.50 a gallon, that's 10 cents per mile, or $1500 a year in gas. On the other hand, if you get 3.5 miles per kWh, and pay 15 cents a kWh, you end up paying only about 4 cents per mile, or about $650 a year, to drive the Bolt. That drops your monthly cost by $70 a month.
 

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Focusing on only the monthly lease payment is a mistake. You also need to consider the monthly and yearly operating costs.
True. In my case, eliminating gasoline, oil changes, and the odd mid-ownership repair would probably save me $100 a month, vs. the car I'm making payments on now. But in two years I'd own that car and have an asset...whereas trading it now for a leased Bolt would mean three years of payments followed by owning nothing. I'm trying to talk myself into it because I want (not need) a Bolt, but my last remaining fibers of common sense are being a real killjoy.
 

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On the other hand, since I retired I only drive about 2000 miles a year. That would go up a bit with a Bolt, but I wouldn't be saving a significant amount of money by driving one - I drive a Leaf now. I'll be looking for a 10k mile per year lease (or lower). Since I assume that GM self-insures against collision loss like Nissan, I'll also try to put down no more than $2k, because if the car gets totaled the down payment will (if I'm correct) be lost for me. Still, if it will cost me $400 a month to lease an LT with the options I want (and can get on the LT) I'll be looking at the Hyundai Ioniq and maybe one or two other EVs as well. I'll probably do it for $350, but no more.
 

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If you only drive 2000 miles a year, fuel cost is a minor part of your annual automotive expense.

$485 a month is significantly more than I would be willing to pay for a Bolt. A local dealer here has a leftover 2016 Malibu hybrid for sale, $25,999. Its rated 47 mpg city, 45 highway. I would much rather get that than a $485/month leased Bolt.
 

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Discussion Starter #12
$139/mo for a Honda Fit (probably the closest size wise/utility comparison). BMW X1 269/mo. A whole host of nice cars around the $200/mo range. Or lease a nice Volvo XC60 AWD or several Mercedes models for comfortably less than the Bolt.

I get what devbolt is saying, I really do. I've leased many times before. Yes, I understand yearly mileage differences, money down, etc. At the time, the Leaf was all the rage and cutting edge too, and there were some leasing as low as $70/mo. There's a wiiide range between these numbers and the $489 Bolt Premier lease, even accounting for plenty of extra miles or money down. They need to get these lease prices down! I'm just looking at this clear eyed, wanting a Bolt (and have one on order arriving in about a week), but also needing a larger family vehicle. Why should an MSRP Bolt have the same monthly payment as a 3 row Acura SUV? And this is with GM trying to keep the payment down by stealing more of the tax credit, thereby making it less attractive at buyout time? I'm not sure I'd go as far as it being a class action lawsuit thing vs. their advertising, but it's certainly not making me believe GM is serious about getting people to buy these cars with these tactics. There may be an additional Bolt available in Oregon.
 

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Why should an MSRP Bolt have the same monthly payment as a 3 row Acura SUV? And this is with GM trying to keep the payment down by stealing more of the tax credit, thereby making it less attractive at buyout time?
1) Monthly payments are based on the cost of the vehicle (or the amount you "use up" when leasing). If you want a cheaper vehicle, there are other options.
2) GM is not "stealing" the tax credit. GM Financial is not passing it all on as a CCR, but there are other leasing options out there. But you'll likely find that the monthly payments on those are higher, even if they pass the entire $7500 on as a CCR instead of partly as a higher residual.

If you are planning on purchasing the car at the end of the lease, it usually makes financial sense to purchase instead of lease.

If you do not have enough income to generate a $7500 tax liability, then leasing could be the best option. Your dealer almost certainly has other lease companies they can work with - some will pass on the entire $7500. Some will allow you to "buy out" the lease after a month or two (a way to get the tax credit on a purchase if your tax liability is low). If you're looking for dealers that offer other leasing options, those with advertised leases lower than manufacturer sponsored leases are a good source. Look at the dealers on the "dealer offer" list here: http://ev-vin.blogspot.com/

If you just think the Bolt is too expensive, don't buy it.
 

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Reality bites...

From my dealer, nearing signing time: $485/mo for a Bolt premier, 39 mo lease, 15k/year. MSRP. Includes the $2500 "tax credit" cash, includes the bank fee (595), does not include the DMV reg fee (4 year) (444) and first monthly.
About $30/mo less per 1000 down.

Currently, that puts the Bolt in the same league as currently published leases on the Audi A5 or Q5, Acura MDX and more expensive than a BMW 3 series and Lexus ES Hybrid.

Discuss.
i3??? It'll be a lot cheaper.
 

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The i3, especially the version with a Range Extender (REX) has been plagued with problems. The Hyundai Ioniq EV may be the best alternative.
 

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Reality bites...

From my dealer, nearing signing time: $485/mo for a Bolt premier, 39 mo lease, 15k/year. MSRP. Includes the $2500 "tax credit" cash, includes the bank fee (595), does not include the DMV reg fee (4 year) (444) and first monthly.
About $30/mo less per 1000 down.

Currently, that puts the Bolt in the same league as currently published leases on the Audi A5 or Q5, Acura MDX and more expensive than a BMW 3 series and Lexus ES Hybrid.

Discuss.
Or you can wait a few months and let the people who are willing to or have to get shafted be filtered out of the system and the prices will be more affordable. $485 for the Bolt is a $100 too much.
 

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The i3, especially the version with a Range Extender (REX) has been plagued with problems. The Hyundai Ioniq EV may be the best alternative.
Plagued with problems? I've not heard of any issues and there was one a while back that was resolved. It's a rock solid car and you can get it for dirt cheap these days.
 

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Reality bites...

From my dealer, nearing signing time: $485/mo for a Bolt premier, 39 mo lease, 15k/year. MSRP. Includes the $2500 "tax credit" cash, includes the bank fee (595), does not include the DMV reg fee (4 year) (444) and first monthly.
About $30/mo less per 1000 down.

Currently, that puts the Bolt in the same league as currently published leases on the Audi A5 or Q5, Acura MDX and more expensive than a BMW 3 series and Lexus ES Hybrid.

Discuss.
Or you can wait a few months and let the people who are willing to or have to get shafted be filtered out of the system and the prices will be more affordable. $485 for the Bolt is a $100 too much.
People leasing now or purchasing at $1k below MSRP are getting "shafted"? Quite laughable. Someone is just bitter they don't qualify for the full tax credit. How bout you get a job where you earn more.
 
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