I noticed these cheap Bolt deals a couple of weeks ago and thought maybe it was time to pick up a second car to tool around town in. I was hoping to get one for less than $99 but ultimately settled for $120 on this slate gray Premier loaner with 2200 miles on it.
I reached out to the ~10 Houston-area Chevy dealer that collectively stocked fewer than 50 Bolt Premier 2020s. Before I found the loaner, the lowest quote I had gotten was $157/mo for a $44k new Premier (The highest quote I got was $550).
MSRP was $43,945 before dealer add-ons which included window etching and wheel locks
Discount was probably about $7,000
Rebates were exactly $13,250:
$6,750 Lease Cash
$3,000 Costco
$2,000 CCR
$1,500 Non-GM Lease Conquest
$0 in Texas sales tax after applying tax credits (normally 6.25%)
Payment Terms
$120/month
36 months lease with 10k miles a year
First month due at signing
Looking through the contract in detail, it looks like the dealer marked up the money factor to .0005 for an effective APR of 1.2% vs the base rate of close to 0%, which added about $886 in rent charges to the deal. There was also some weird $283 “GM Tax Credit Fee.”
So could I have argued the money factor mark up and gotten the dealer to agree to $99? Maybe, but there was also no other Premier loaner in town. I tried to get them to throw in window tint, but they claimed they didn’t stock anything but basic $120 dyed tint, so I let them off the hook on it.
FWIW, I had looked at getting a Bolt when they first came out in 2016, but at that time the lowest I was able to negotiate was $460/mo, which is why I opted for a BMW i3 during that car leasing period. The Bolt is a hoot to drive as it’s very small, quick, and nimble. But it definitely is an econo-box on the inside!
I’m not familiar with any additional GM conquest cash that would be in addition to the $1,500. I wish I could’ve qualified for GM supplier (an extra $500) as a college educator, but they would only accept W2 paystubs as proof, and I’m only a volunteer.
Yes, one pay would lower the rent charge, but I’d personally rather put that cash in an appreciating asset…like Gamestop! J/k. But the stock market has done very well in the last year.
I think that’s the general conquest, most dealers here listed it, and the local dealers I contacted confirmed it. Nothing major you’ve scored a great deal already. Also believe it works this way on those Camaro leases too but I could be wrong.
Could you PM me the dealer in Houston who was @ 157? Trying my luck in Dallas, but the dealers with inventory are being stingy on their MSRP discounts. I’m assuming the Houston dealer also had tax credits?
I believe it stands for Competitive Cash Rebate which varies by market.
@Shellzj great deal - I picked up a 2021 Bolt Premier for ~$5250 one pay for 36/12k. I didn’t receive any tax credits, but was still happy with the deal.
That’s a great deal! I would’ve pulled the trigger if a dealer had offered me $149/mo on a new 2020 or 2021. But now I’m haunted by the still fabled $99 lease…I was so close but so far away!
Didn’t have nearly as much luck in the DFW area.
@lokak, that was a solid deal as well. I paid a few hundred more for a 2020 one-pay, it was low stress so I was happy with the deal. If your total on the one-pay was $5250 then it should have included something to offset the tax, which would have been around $2k.
