Page 5 of 5

Re: So are we all going to end up buying our cars after our leases are up?

Posted: Tue Mar 12, 2019 7:06 pm
by BarfOMatic
BoltEV wrote:Any ideas?

Yeah, buy a used Bolt. Hasn't somebody already talked about that? Isn't there a thread for that?

Oh, yeah, THIS one!

Re: So are we all going to end up buying our cars after our leases are up?

Posted: Tue Mar 12, 2019 8:22 pm
by PackardV8
Pigwich wrote:So in regards to "dickering" with the finance company, I'd like to know if anybody has historically had any success on this front. I asked when my Spark EV lease was up and they told me immediately that there was absolutely no negotiating whatsoever and that I could either turn it in or pay full asking price only. It's probably something to do with being able to write it off as a loss or not. The bank was Ally, who apparently are horrible, although my experience was neutral. This time it's GMAC financing. Also neutral, but I'm on autopay, so it had better be goddamn neutral.
The only explanation I've gotten is leases are written to be iron-clad-bullet-proof-court-tested. The lessor wants there to be no wiggle room for the lessee. To this end, the residual must be stated at time of signing and held firm. If the lessor were to renegotiate on the residual for one owner, they worry another lessee could then use that as an argument to negotiate some way out, "because you changed his residual, you can change my terms as well."

When BMW and Nissan wanted to get the first I3 and Leaf out into the marketplace, they lowballed the monthlies. This got BEVs out where others could see them on the road. But those low monthlies made the residuals so high, few owners saw fit to buy their car at the end. After being run through the wholesale auction and picked up by independent resellers, the same i3/Leaf were then on eBay for considerably less than than the residual. It happens with the Bolt as well. The leases in CA are sweetheart deals compared to what GM and the dealer were offering in WA.

Why buy at lease end (my residual is $25k+) when you can buy a brand new one for under $30k
Those here talking about sub-$30K Bolts aren't buying one in Spokane. The two dealers here are still holding close to MSRP.

jack vines