michaelbolt
Posts: 13
Joined: Sat Sep 21, 2019 5:24 pm

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

Sat Sep 21, 2019 5:32 pm

There are literally giveaway prices right now. I"m seeing Premiers in the 28K range, LT's in the 24K range. There's still $3750 to be deducted and here in California another $2500. So as I see it Premiers in the very low 20s, LTs in the high teens. Why even consider keeping the old one while that deal still exists?

BoltEV
Posts: 284
Joined: Thu Feb 01, 2018 5:58 am

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

Sat Sep 21, 2019 8:50 pm

michaelbolt wrote:There are literally giveaway prices right now. I"m seeing Premiers in the 28K range, LT's in the 24K range.

Link please.

PackardV8
Posts: 118
Joined: Mon Jun 12, 2017 2:39 pm

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

Sat Sep 21, 2019 9:03 pm

BoltEV wrote:
michaelbolt wrote:There are literally giveaway prices right now. I"m seeing Premiers in the 28K range, LT's in the 24K range.
Link please.

X2 - I had convinced a relative to buy a Bolt and after wading through the smoke and mirrors of the advertising, he couldn't get a Premier for less than $30K. Only 12% of the US live in CA, so the $2500 isn't there for 88% of us. Still, that $30K is a harsh lick for those of us who bought two years ago and had to pay close to MSRP.

FWIW, the friend ended up buying a Tesla M3 Performance for $50K. The deciding factor for them was AWD, as they are up a ski hill most winter weekends.

jack vines
My vehicles
2017 Bolt Premier Cajun Red
2011 Saab 9-4X
2005 Saab 9-5
1998 Saab 9000 Aero
2004 Ford F250 6.0 Turbo Diesel
1963 Studebaker Avanti
1956 Studebaker Hawk custom with a supercharged Packard V8
1955 Studebaker custom pickup with a Packard V8

michaelbolt
Posts: 13
Joined: Sat Sep 21, 2019 5:24 pm

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

Sun Oct 06, 2019 6:44 pm

BoltEV wrote:
michaelbolt wrote:There are literally giveaway prices right now. I"m seeing Premiers in the 28K range, LT's in the 24K range.

Link please.

Community Chevrolet in Burbank CA.

Still listing in $28's for Premier By waiting $1700 of the possible tax money has been lost (expired Oct 1). Of the discounts, the only one that looks "iffy" is $1K trade in, I don't know what that means. All the rest seem legit

So for California buyers considering keeping their cars after lease end, buying a new replacement looks like a strong possibility instead

BoltEV
Posts: 284
Joined: Thu Feb 01, 2018 5:58 am

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

Tue Oct 08, 2019 4:37 pm

michaelbolt wrote:
BoltEV wrote:
michaelbolt wrote:There are literally giveaway prices right now. I"m seeing Premiers in the 28K range, LT's in the 24K range.

Link please.

Community Chevrolet in Burbank CA.

Still listing in $28's for Premier By waiting $1700 of the possible tax money has been lost (expired Oct 1). Of the discounts, the only one that looks "iffy" is $1K trade in, I don't know what that means. All the rest seem legit

So for California buyers considering keeping their cars after lease end, buying a new replacement looks like a strong possibility instead

I spoke to Community Chevy in Burbank in late July and they were not willing to deal. So I drove all the way down to Orange County to get my best deal:

I bought my MSRP $44,250 Bolt EV Premium from Guaranty Chevy in Santa Ana for $36,500 “out the door” including tax and license on July 31st.

Has HOV Purple stickers, Federal tax credit of $3,750 and California rebate of $2,500 already approved.

Looking online, as you suggest, it appears that Community is now offering the same Loyalty discounts that Guaranty offered last July.

MinwooBolt
Posts: 3
Joined: Fri Dec 27, 2019 9:07 am

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

Fri Dec 27, 2019 9:29 am

I originally leased my 2019 Bolt Premier (MSRP $43,635) back in Nov 2017. 12k mi/yr. I opted to pay upfront for the lease, bringing my total to $16,745. They had rebates at the time for $6091, which brought my total down to $10,654 (after taxes and including wear and tear protection). -$2500 (CA rebate) -$1000 (So Cal Edison) -$700 (Costco Executive) brought down the total to about $6,500 for a 3 year lease with 36k miles allowance.

Now, after 2 years, I've run 34k miles on the car. The lease residual is stated as $25,745. I can buy a new Premier (MSRP $42,530) for $35,067. -$2000 (CA rebate) - $1875 (fed rebate) -$1000 (So Cal Edison) -$700 (Costco) brings the total down to $29,492.

It will cost me $3747 more to purchase a brand new 2019 Bolt vs buying out my 2017 Bolt after lease end.

I'll be buying my new Bolt soon. I've loved driving the 2017 thusfar. This car will hold me over until I'm ready to buy the Cybertruck :mrgreen:

MinwooBolt
Posts: 3
Joined: Fri Dec 27, 2019 9:07 am

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

Sat Dec 28, 2019 4:37 am

After having difficulty finding the car/trim/color I wanted, Nissani Chevrolet convinced me to buy the 2020 Bolt (Grey Metallic) for $40k out the door. That's including tax, license, and registration. Taxes are estimated to be about $4k, license, registration, other fees about $1k. So just for the car, it's $35k. I'm still looking at $5575 in rebates, so it ends up costing me about the same as the 2019. But I get it in the color I want, newer model, with the 20 extra miles per charge.

MinwooBolt wrote:I originally leased my 2019 Bolt Premier (MSRP $43,635) back in Nov 2017. 12k mi/yr. I opted to pay upfront for the lease, bringing my total to $16,745. They had rebates at the time for $6091, which brought my total down to $10,654 (after taxes and including wear and tear protection). -$2500 (CA rebate) -$1000 (So Cal Edison) -$700 (Costco Executive) brought down the total to about $6,500 for a 3 year lease with 36k miles allowance.

Now, after 2 years, I've run 34k miles on the car. The lease residual is stated as $25,745. I can buy a new Premier (MSRP $42,530) for $35,067. -$2000 (CA rebate) - $1875 (fed rebate) -$1000 (So Cal Edison) -$700 (Costco) brings the total down to $29,492.

It will cost me $3747 more to purchase a brand new 2019 Bolt vs buying out my 2017 Bolt after lease end.

I'll be buying my new Bolt soon. I've loved driving the 2017 thusfar. This car will hold me over until I'm ready to buy the Cybertruck :mrgreen:

BoltEV
Posts: 284
Joined: Thu Feb 01, 2018 5:58 am

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

Sat Dec 28, 2019 10:53 pm

MinwooBolt wrote:...They had rebates at the time for $6091, which brought my total down to $10,654 (after taxes and including wear and tear protection). -$2500 (CA rebate) -$1000 (So Cal Edison)...

Now, after 2 years, I've run 34k miles on the car. The lease residual is stated as $25,745. I can buy a new Premier (MSRP $42,530) for $35,067. -$2000 (CA rebate) - $1875 (fed rebate) -$1000 (So Cal Edison) -$700 (Costco) brings the total down to $29,492.

Does So Cal Edison give a rebate EVERY time you purchase an EV?

LADWP only gives only one rebate towards the cost of an L2 installation.

rjbailey
Posts: 3
Joined: Mon Jan 06, 2020 6:18 pm

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

Mon Jan 06, 2020 6:22 pm

Pigwich wrote:So here's the big question... The tax credit is gone, so the price on used Bolts will probably skyrocket when this first round of leases turns in. I'm happy with my car, but I'd sure like faster fast charging, which will probably be a thing in 2020 - Is everybody planning on buying Kias or Hyundais? When the time comes? Their tax credit status is probably fine - Or getting bent over by the bank and buying the lease back at asking (or worse) price? I'm going to have to look a the residual value on my car, but it's probably crazy expensive. I know this forum is sort of languishing, but there's still some activity. I'd live to hear what others think...

I love my 2017 Bolt but feared that the residual value would dissuade me from buying it at lease end. But the data at https://www.cargurus.com/Cars/price-tre ... t-EV-d2397 shows me my lease's residual value is about $500 UNDER the average selling price. Now I'm tempted to just bring in a check at lease end and be done with it. Plus, I'd keep my red CA HOV stickers. What would y'all do?

BoltEV
Posts: 284
Joined: Thu Feb 01, 2018 5:58 am

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

Mon Jan 06, 2020 9:25 pm

rjbailey wrote:Now I'm tempted to just bring in a check at lease end and be done with it. Plus, I'd keep my red CA HOV stickers. What would y'all do?

Sales tax is a big factor in California. When you purchase the lease at the residual you must also pay the outstanding sales tax (and license fees of course).

Consider, as I did, a new purchase with “loyalty” discounts for a 2020 model with the newest HOV stickers.

Approaching my mileage limit last year, I purchased a new Premier 2019 msrp $44,250 for $36,500 out the door, instead of my 2017 residual at $25,000 plus tax and license.

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