So I leased a 2LT Spark EV back in May. I thought at the time I got a really nice deal (MSRP $27,135 2LT for 36 months/10k miles for $150/month, 0 down). After kicking the tires around a bit, I ended up trading in my green Spark…for a new red Spark lease!
Same exact specs as the first Spark, except the color. Despite nearly $2k in negative trade equity, I was able to lease a new Spark EV for $2/month less than my old Spark.
Term: 36 months, 10k miles/year
Sale price: $23,822 ($3,313 dealer discount)
Lease cash: $10,475
Private offer: $500
Farm bureau: $500
GM earnings: $108
Residual: 40% ($10,854 lease end buyout price)
Money down: $0
Monthly payment: $147.99
Rolled in $1,957 negative equity on the old Spark, but got a $810 tax credit for the trade-in value of that Spark ($13,500). Monthly payment would have been just $116/month without the negative equity from Spark #1.
Third time I’ve cashed in on the $500 farm bureau rebate!