2018 or 2019 Volt LT Lease then buy or Finance?

Ask the Hackrs
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1

I’m located in SoCal, in Orange County, and have been contemplating for months on which type of car I should get. I drive a lot, around 20K Miles Per Year, and I was wondering whether it would be cheaper to lease then buy or finance a volt. I’m just looking for the LT with the drivers confidence package and comfort package. MSRP is about 35.6K, I’m looking to get it around 32-33K post taxes if that is possible. Do you think it is within the realm of possibility? And also which option should I be looking for, the lease then purchase or to just finance it for a couple years?

2

I leased a Volt (LT with leather, 36mos/12k/yr) and asked the same question prior to leasing. Here are my numbers, all things being equal:
Lease: $9028 (total of payments)+$18100 (residual value)= $27128. Add tax (if I buy it) +$1810 = 28938
Buy: $31800 + 3180 tax = $34980, minus $7500 fed tax credit= $27480. Add license, registration, etc. ($515) = $27995

Pretty close, but once you factor in the financing (2% APR?), a low mileage lease would be cheaper. I think the “hack” in your case is to get a low mileage lease, go over, and then buy the car.

3

Interesting, thanks for the input.

4

If you buy, you might also want to consider getting a used out of state Volt that hasn’t had a CAV sticker. Just be mindful of the VIN code, not all volts are eligible for CAV.

But the idea of purchasing the car at the end of the lease may work out better. Picking the right model/mileage lease to get the lowest residual would be key.

Question: How does that work with CA sales tax? I’m assuming you don’t have to pay sales tax again upon lease buyout.

5

You typically pay sales tax along with the lease payments, typically like 8 or 9% based on where you live. So if your lease payment is $100, you pay $109/mo. If you buy out the lease at the end, you pay the 9% or whatever of what you owe to the dmv.

6

Ask Chevysalesgirl. Maybe do a one pay lease for the $1,300 (?) lease discount.

7

Thanks for the info, that makes sense.

8

Where is that bow-tied vixen?

9

You have to tag her for her to see with an “@” symbol in front of her name…@chevysalesgirl…

10

you’d basically pay $3,000 on top of any onepay amount or monthly amount. still cheaper than buying it, but realistically people who do 20k do more like 30k miles per year.

i live 25 miles from works and i’m a 25k driver.