SparkE
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Re: Decided to Lease a Bolt This Week - What Is Your Opinon of these terms?

Sun Jan 13, 2019 6:53 am

BoltEV wrote:Thanks for that update.

SparkE wrote:Both also will still have the $7500 tax credit available, which will definitely help buyers, and *should* help leases prices as well (either through lower starting price or higher residual).

Did you mean lower residual?


No - I really meant higher residual, which would lower the monthly payment. If you don't understand why a higher residual should lower monthly payments, I can explain it.

My comment was meant for people who plan on turning in their vehicle at the end of lease and not buying it afterwards . If one wishes to keep the vehicle, you should just buy it and take out a car loan for 4 or 6 or 8 years - that should cost less than leasing it then buying it. If you do lease then maybe wish to buy 3 years later, compare what is out there on the used market - if it's less expensive then buy one of those (or use the cheaper price as leverage to get your purchase price lowered) and if the 'used' price on the open market is higher, then buy it for the residual.

BoltEV
Posts: 201
Joined: Thu Feb 01, 2018 5:58 am

Re: Decided to Lease a Bolt This Week - What Is Your Opinon of these terms?

Sun Jan 13, 2019 10:33 pm

SparkE wrote:
BoltEV wrote:Thanks for that update.

SparkE wrote:Both also will still have the $7500 tax credit available, which will definitely help buyers, and *should* help leases prices as well (either through lower starting price or higher residual).

Did you mean lower residual?


No - I really meant higher residual, which would lower the monthly payment. If you don't understand why a higher residual should lower monthly payments, I can explain it.

My comment was meant for people who plan on turning in their vehicle at the end of lease and not buying it afterwards . If one wishes to keep the vehicle, you should just buy it and take out a car loan for 4 or 6 or 8 years - that should cost less than leasing it then buying it. If you do lease then maybe wish to buy 3 years later, compare what is out there on the used market - if it's less expensive then buy one of those (or use the cheaper price as leverage to get your purchase price lowered) and if the 'used' price on the open market is higher, then buy it for the residual.

My experience was that GM Financial pushed the federal tax credit benefits into the residual; which was disappointing to me at that time; hence a lower residual.

That being said: I will have to wait about 10 months and start pursuing what the marketplace has to offer.

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