BoltEV
Posts: 184
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?

Fri May 10, 2019 6:06 pm

GetOffYourGas wrote:Not sure whether you are implicating me in that. I take issue with the lack of built in nav too. First, it was promised to us. Second, there are plenty of trips I take into the mountains where there is no cell service and it can be easy to get lost.

Nice to see a sympathetic voice and someone else who also points out the original failed promise without getting much scorn heaped upon him on this forum!

Times have changed! :)

GetOffYourGas
Posts: 1145
Joined: Tue Oct 20, 2015 5:25 pm
Location: Syracuse, NY

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

Fri May 10, 2019 8:45 pm

SeanNelson wrote:
GetOffYourGas wrote:... I take issue with the lack of built in nav too. First, it was promised to us. Second, there are plenty of trips I take into the mountains where there is no cell service and it can be easy to get lost.

With Google Maps it's pretty easy to download the mapping data for a region before you go out of cell tower range. And it has an option to automatically download mapping information to take you all the way to your destination if you're using navigation.


Yes, this is a work-around, not a substitute. It requires planning ahead of time that simply is not required with a proper built-in nav. It turns out, I don't go driving into the mountains with the intent to get lost, so I would basically have to make sure to do this every trip.
~Brian

EV Fleet:
2011 Torqeedo Travel 1003 electric outboard on a 22' sailboat
2012 Leaf SV (traded for Bolt)
2015 C-Max Energi (302A package)
2017 Bolt Premier

Lithim
Posts: 4
Joined: Sun Jan 10, 2016 5:21 pm
Location: Houston

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

Sat May 11, 2019 7:58 pm

Leased my 2012 electric car (non-Bolt) in 2013 thru Ally finance. Toward the end of the lease (two years) I contacted Ally to ask about a reduction in the residual value for a purchase of the car. They did not want to talk at all. When the lease came due due I went to the dealer to turn in the car and mentioned to the salesman my interest in purchasing the vehicle. He called the finance company and in a short time I was offered a reasonable price for the car that was substantially below the residual value in my contact. I purchased the car and am still driving it today.
Leasing worked out for me due to the very low monthly lease price, minimal down payment and the federal tax rebate was calculated into the lease price.
Stay charged my friend
2012 Mitsubishi I-Miev
Silver with DC/DC QC
Owned, previously leased

SparkE
Moderator
Posts: 1072
Joined: Sun Sep 11, 2016 5:53 am
Location: SF Bay Area

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

Fri May 24, 2019 4:44 pm

I have little sympathy for those crying for nav. A little because, I think the car vendors charge way too much, both original price and the 'updates' for maps. A little because I have no problem finding an address, or planning a trip (but then, I don't drive for a living, so someone who does Uber or Lyft could really use one.) But mainly because if you want it, BUY IT. Garmin, tomtom, etc all sell nav units *for much less than GM charges*. So if you want it, buy it - it's an easy add-on.

SparkE
Moderator
Posts: 1072
Joined: Sun Sep 11, 2016 5:53 am
Location: SF Bay Area

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

Fri May 24, 2019 4:48 pm

Oops, I just contributed to the "off topic" posts. If people want to talk about Nav, I'll split the posts out into their own topic. (Although this is a pretty generic thread that has been wrapping new topics about, if in 2 months people want to read about Nav, they aren't going to think to look in the "are we buying are cars" thread)

winterescape
Posts: 158
Joined: Sun Jun 25, 2017 1:35 pm
Location: Upstate, NY

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

Fri May 31, 2019 2:44 pm

BoltEV wrote:Does any Bolt EV leasee here have any experience with negotiating a year extension to their existing lease; whether GM Financial or otherwise?

For the right amount, I may just do that and wait out the 2020 release of the newer long-range EVs.


I called "Gm Financial leasing", my lease company, and asked that question a few weeks ago. They informed me that 3 months prior to the end of the lease you will receive a "lease turn in kit" that reminds you what is considered normal wear and tear, minimum tread depth, and a cardboard template to measure scratches. Included with this kit will be a form where you apparently can check a box and extend your lease for up to an additional 6 months at the same terms.

YMMV, I have never leased before. I also asked about the negotiating the residual value purchase price and was told, "you would need to check back with us at that time".

BoltyMcBoltFace
Posts: 26
Joined: Sat Sep 17, 2016 10:41 pm

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

Tue Jun 04, 2019 9:28 pm

BoltEV wrote:For the last two months, I have recommenced driving for Uber and when I do it full time, I am driving approximately 1,000 miles per week. At this burn rate, I will run out of miles in mid-September and then accrue approximately $3,500 in penalties by the end of my lease.

If I obtain another vehicle by lease in 2020, driving full time for Uber will accrue approximately an additional $25,000 in penalties over a 3 year period.

Buying a new 2020 Bolt EV holds new value to me, as the features are largely the same.

Hence, the math is clear: I should buy my Bolt EV in January and wipe out any penalites for 2019 and thereafter and my Uber income will more than compensate for my monthly payments to finance the residual plus interest!

I will then have had Uber finance my ownership of my 2017 Bolt EV and am free to later obtain an upgraded model with more modern features when available.


You may want to talk to your dealer about a lease pull-forward deal for a new 2019 when you get close to the mileage cap. My uncle has done this a couple of times with GM financial - you turn the car in early and below the mileage cap so you pay no penalties, then start a new lease. If you can get a lower monthly payment and lower residual (there are some good deals out there now, unlike when you leased), you could still come out ahead even if you buy your car at full residual in 2022. Or buy instead of lease - a new 2019 at 26k would certainly beat a used 2017 at 25k in my book. Also consider any state and local incentives you'd get on a new one that you wouldn't get buying out your lease.

BoltEV
Posts: 184
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?

Wed Jun 05, 2019 11:53 pm

BoltyMcBoltFace wrote:Or buy instead of lease - a new 2019 at 26k would certainly beat a used 2017 at 25k in my book. Also consider any state and local incentives you'd get on a new one that you wouldn't get buying out your lease.

Buy a NEW 2019 Bolt EV for $26K less tax incentives!?!

What am I missing here?

BoltyMcBoltFace
Posts: 26
Joined: Sat Sep 17, 2016 10:41 pm

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

Thu Jun 06, 2019 6:57 pm

BoltEV wrote:Buy a NEW 2019 Bolt EV for $26K less tax incentives!?!

What am I missing here?


The $26k might be a unicorn, but I've seen a claim somewhere that some dealer in CA was offering that. I can't find it now, but did find this that showed a dealer offering $29k for a new one, including one that appears to have a few options. A screenshot is in the article.

https://insideevs.com/features/349236/c ... 6-a-month/

BoltEV
Posts: 184
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?

Fri Jun 07, 2019 8:10 am

BoltyMcBoltFace wrote:
BoltEV wrote:Buy a NEW 2019 Bolt EV for $26K less tax incentives!?!

What am I missing here?


The $26k might be a unicorn, but I've seen a claim somewhere that some dealer in CA was offering that. I can't find it now, but did find this that showed a dealer offering $29k for a new one, including one that appears to have a few options. A screenshot is in the article.

https://insideevs.com/features/349236/c ... 6-a-month/

Let me know when you find that claim.

In the meantime, your linked artcle is about “leases” for low end Bolt EV LT’s.

I am looking to “purchase” my high end Bolt EV Premier.

I went to their website and all the “discounted” models for sale were low end LTs.
Last edited by BoltEV on Thu Jun 13, 2019 5:52 pm, edited 1 time in total.

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