Year, Make, Model, and Trim: 2022 Chevrolet Bolt LT
Location: SoCal
MSRP: $33995
Monthly payment (pre-tax): $1755 single payment
Effective monthly payment (if incentive is provided): 195/mo
Current mileage: 28,000
Maturity mileage: 30,000
Effective miles per month: ~222
Maturity date: 8/4/24
MSD due (if any):
Cash due (if any): $1755 lease takeover; one payment lease no further payments required
Incentive for new lessee (if any):
Financial institution: GM
Transfer fee: $625 transfer fee to GM
Out-of-state transfer allowed (yes/no): no
Additional Milage: 25 cents per mile
Vehicle condition (accidents, tire wear, etc.), options, and other details:
Silver, HOV decals valid until 2025, New replacement battery w/100K warranty, Apple Carplay / Android Auto play, no accidents. With extra miles @ .25/mile you can use exactly the number you need and not pay for more than you use. For example if you use 1000 miles/mo the effective cost is $389.50 ($195 + additional mileage $194.50). Use less, pay less at lease turn in.
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What is the residual at lease end?
Purchase option end of lease = $21,416.65
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The mental gymnastics people think of to justify a lease transfer on a lease they went over miles on and want to get out of without paying for mileage overages is bonkers. For $500 a month you can OWN a NEW bolt.
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I agree! Will be tough for OP to get out of this with their current requests for the lease, transfer fee, etc.
Yeah, effective is more like $275 after fees or about $1.25 a mile.
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I get what you’re saying but the ‘mental gymnastics’ of math is what this forum is about. It is a better lease deal than can be had now, and would be ideal for someone who wants to get a new car next year when hopefully prices and inventory are even better for electric cars. If it’s more than you want to spend, feel free to make me an offer.
A nearer apples to apples comparison, a current Bolt EUV lease deal (requires an existing GM lease) is $16843 for 36/mo or $468/mo BEFORE tax. $.56/mile
This lease w/ the same equivalent 10k miles/year would be $3755/9 months or $417/mo. INCLUDES tax $.50/mile
license / registration & Tax already prepaid.
7500/mile lease equivalent = $365/mo
12000/mile lease equivalent = 514/mo
10K lease math:
*equivalent 9 months miles @ 10k/year = 833/mo *9 = 7500-2000 included = 5500 .25 = $1375 mileage
*$1375 mileage + 625 + 1755 = $3755 or .50/mile *
417/mo
