How Much I Paid for My Bolt

[blackbolt]

Maybe you can scan the lease deal and post it here

Sorry for the delay. Had to really reduce the size to be able to attach it but apparently still quite big. They listed the $1120 as cash, but they paid it, so I paid nothing up front.

 

[Nagorak]

[MOD: this reply looks somewhat out of place as a spam posting was deleted. Sorry for any confusion]

It looks to me like the current deal at Rydell might be slightly better. It's more per month but less due at signing. It's not clear whether the [deleted] offer above includes tax or not.

See here: http://www.chevynorthridge.com/Rydell-Chevrolet-Newspaper-Specials?siteMapItemName=3289501381514904562

 

[DNAinaGoodWay]

Maybe you can scan the lease deal and post it here

Sorry for the delay. Had to really reduce the size to be able to attach it but apparently still quite big. They listed the $1120 as cash, but they paid it, so I paid nothing up front.

What about the $7500 fed credit? They're not taking that and applying it to the lease?

 

[thorin78]

Maybe you can scan the lease deal and post it here

Sorry for the delay. Had to really reduce the size to be able to attach it but apparently still quite big. They listed the $1120 as cash, but they paid it, so I paid nothing up front.

What about the $7500 fed credit? They're not taking that and applying it to the lease?

No, GM Financial is keeping the $7500 and giving a $2500 incentive for a lease. So you can either view it as they're artificially propping up the residual value or if they gave it to you, they'd just probably lower the residual by $5000. Essentially, it's a 60% residual value (for 10k miles) or ~58% because they gave you the $5000. Either way, your payments will be the same. All roads lead to paying $16,000 over 3 years before any dealer discounts that you negotiate.

 

[devbolt]

Maybe you can scan the lease deal and post it here

Sorry for the delay. Had to really reduce the size to be able to attach it but apparently still quite big. They listed the $1120 as cash, but they paid it, so I paid nothing up front.

What about the $7500 fed credit? They're not taking that and applying it to the lease?

GMAC is choosing to only pass on $2500 as a capital cost reduction, and instead are taking the remaining $5000 to artifically raise the residual to a higher level. The net effect is the same: a lower monthly payment for the consumer. Makes buying the car at lease-end less attractive for the lessee, however.

 

[sgt1372]

GMAC is choosing to only pass on $2500 as a capital cost reduction, and instead are taking the remaining $5000 to artifically raise the residual to a higher level.

In my deal, they included a $6k cap cost reduction which went to lower the depreciable cost and monthly payment.

The $2.5k went to pay down the upfront costs, including the payment for the cap cost reduction plus tax on it.

Net effect was to reduce my payment b4 taxes to just $282/mo and my upfront cost to the value of my trade in at $5k, which was further reduced to just $2k w/the CA state and PGE rebates.

An ok deal w/o the rebates but a fantastic deal w/them.

The net effect is the same: a lower monthly payment for the consumer. Makes buying the car at lease-end less attractive for the lessee, however.

I've leased a lot of cars/trucks and have never considered buying any of them at lease end.

Why would you do that?

The residual is usually too high to make it attractive financially (as it is w/the Bolt) and you have to buy the car w/o getting any equity benefits from your lease payments.

The main benefits of leasing are the relatively low upfront costs, the lower monthly payments, knowing exactly what the car will cost you over the duration of the lease and being able to walk away from it at lease end.

If you liked the car that much and planned to keep it for 8 years or more, the better play financially would have been to just buy it outright OR buy another car like it used for much less than the lease company will allow you to pay for the buy back.

 

[devbolt]

Did you go with a different leasing company than GM's in-house arm in order to get the cap-cost reduction up to $6K? Or did the dealer sweeten the pot somehow? Your leasing deal is the first I've heard where they increased the CCR beyond $2500.

Leasing is not a good deal for me because I put too many miles on a car. Otherwise I might've leased to hedge my bets against the battery lasting 8 years or 100K miles. We looked at what it would take to buy extra miles, and the extra expense put it in range of a regular ordinary purchase/loan. Plus I get the whole $7500 tax credit.

 

[sgt1372]

Did you go with a different leasing company than GM's in-house arm in order to get the cap-cost reduction up to $6K? Or did the dealer sweeten the pot somehow? Your leasing deal is the first I've heard where they increased the CCR beyond $2500.

I posted the details of my deal on Page 21 of this thread. It was leased/financed thru GM Financial. So, I assume the deal was approved by GM.

 

[devbolt]

Did you go with a different leasing company than GM's in-house arm in order to get the cap-cost reduction up to $6K? Or did the dealer sweeten the pot somehow? Your leasing deal is the first I've heard where they increased the CCR beyond $2500.

I posted the details of my deal on Page 21 of this thread. It was leased/financed thru GM Financial. So, I assume the deal was approved by GM.

I don't think you actually got $6K of CCR out of GMAC. I think you got $2500 like everybody else and your trade-in got added in for the rest of the CCR.

 

[sgt1372]

I don't think you actually got $6K of CCR out of GMAC. I think you got $2500 like everybody else and your trade-in got added in for the rest of the CCR.

Think what you will.

The $6k reduced the depreciable value upon which the monthly payment was based and my TOTAL payments under the lease including the rebates (before sales tax on the monthly payment, which is different for everyone) is ONLY $12,152 or $337.56/month on my $40k LT.

That's cheaper and any other deal that I've seen posted to this forum so far. So, I'm happy.

 

[devbolt]

I don't think you actually got $6K of CCR out of GMAC. I think you got $2500 like everybody else and your trade-in got added in for the rest of the CCR.

Think what you will.

The $6k reduced the depreciable value upon which the monthly payment was based and my TOTAL payments under the lease including the rebates (before sales tax on the monthly payment, which is different for everyone) is ONLY $12,152 or $337.56/month on my $40k LT.

That's cheaper and any other deal that I've seen posted to this forum so far. So, I'm happy.

Happy is good.

I'm just looking to understand better the leasing side of things. I've always purchased my cars, so leasing is a mystery to me. I understand why it can work for some people, but the amount of miles we put on a car, and how long we tend to keep them, makes a lease less attractive.

 

[wwhitney]

my TOTAL payments under the lease including the rebates (before sales tax on the monthly payment, which is different for everyone) is ONLY $12,152 or $337.56/month on my $40k LT.

Plus the $5,000 drive-off payment you made in the form of equity in your trade-in.

Cheers, Wayne

 

[sgt1372]

my TOTAL payments under the lease including the rebates (before sales tax on the monthly payment, which is different for everyone) is ONLY $12,152 or $337.56/month on my $40k LT.

Plus the $5,000 drive-off payment you made in the form of equity in your trade-in.

Cheers, Wayne

Minus the $3k in rebates.

 

[user 943]

so at least 2 dealers in the SF Bay Area is offering $3000 off (7%) MSRP (dublin and fremont).

this is what I get from the leasehackr calculator for a Bolt Premier with 1) DC fast charge, 2) cajun red paint, 3) driver confidence II & 4) infotainment packages.

View attachment Lease_Calculator_—_LEASEHACKR.png

did I plug in the numbers correctly? I put the $2500 cap cost reduction in the "untaxed incentives" input and put the downpayment to $1478 to arrive at a $2500 drive off (to be offset by the CVRP).

In the Post-Sale Rebate field, i added the $2500 from CVRP and $500 from PG&E for $3000 total.

Total lease cost of $13549 ($4516/yr)

 

[hwg136]

Bolt Premier: $40,905
Cajun Red Tintcoat: $395
DC Fast charging : $750
Driver Confidence II: $495
Infotainment packages: $485
Destination: $875
Tire Inflator Kit: $105

Total 44010.00

Registration and Title $160.00

No Sales Tax in NJ

 

[hightower82]

Hello! Thought I would share my experience so far...I was/still am considering a 2017 i3 BEV, but the more expensive price and much lower range has me strongly considering a Bolt. I live in Ohio so we don't have them yet, but I am looking into buying one out of state and having it shipped. From Virginia to Ohio shipping should be about $600. So, worth it in my opinion.
Anyway, I got a quote from a dealer today...they are price gouging big time. Here's the breakdown...
I asked for no added options except the DC fast charger.

MSRP from Chevy is 38245
They added:
875 for destination
690 "processing fee"
513 "total license and fees"
2356 local and state taxes
So a total of 42718

I wrote back stating that I would not be paying an additional 875 fee for destination when that's already included in the MSRP. I also told them I would not pay the excessive fees and that I can pay taxes and registration here in Ohio when it arrives. Basically, my counter offer was 37745 (500 off MSRP). Considering people out west are already getting 3k off MSRP, I think that's more than fair.

I haven't heard back yet, but I have a feeling they are not going to bite. Which is fine, I'll let some other sucker pay more than MSRP and be patient. But, I'm not over paying for this. MSRP would be fair considering its a new model with a lot of hype, so if they reply back with that, I'll probably take it. I'll let you all know.

 

[mbepic]

Think your wrong on that 'destination charge'; it is always added on top of the MSRP for the car.

 

[ScooterCT]

http://www.autonews.com/article/20170320/OEM05/303209973/for-chevy-bolt-discounts-here-markups-there

I accidentally started another thread before I realized this one existed. I make no claims for the above article - just ran across it, and it seemed appropriate here. Make your own evaluation of its accuracy or lack of.

 

[sgt1372]

Think your wrong on that 'destination charge'; it is always added on top of the MSRP for the car.

^i believe that this is correct. It's been listed separately on every sticker that I've attached to a new car on the lot.

 

[schan2464]

Here is my deal on a Bolt Premier. The only options were Orange color, driver assistance, and Bose audio package. Didn't want the fast charger. Never thought about using it on our old Leaf, and any roadtrips we take, which are rare to begin with, we'll take one of the gassers.

MSRP: $43155
Sale Price: $38995
Additional Rebate: $1000
$3000 driveoff (including 1st payment)
15,000 miles/year
Payment: $335.80 including tax
36 month lease

How did I do?