Yah, you just need to wait and see what happens.
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Why would anyone want to lease a Bolt vs. buy itā¦. Lease rates are absolutely terrible. Throwing money away in my opinion vs. buying or doing a balloon. I guess each their own if you are over the income or donāt have tax liability you could look at a lease once they have guidance on the $7500
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I agree. If you can get full incentives and the federal tax credit, the bolt is a better buy (and flippable) than lease.
GMF never applied the full 7500 when leasing when looking at previous vehicles.
IMO, you would be a fool to give up your reservation especially with no tax in NJ.
GM vehicles stopped being eligible for the full $7,500 federal tax credit in April 2019, and stopped being eligible for any federal tax credit in April 2020. So there were no tax credits to offer for almost three years.
As discussed above, no one yet knows how GM will handle the newly available tax credit on leases.
I would buy the car ASAP before you lose it. There are likely tens of thousands of people right now trying to buy a Bolt. Itās up to you if you want to trust the dealer to hold the car for you, regardless of whether you have a deposit.
I agree with pretty much everything thatās been said in that buying seems to be better than leasing but for me Iām worried I would rather buy something else later this year (Fisker,etc) and I only have enough tax liability for one. Also concerned about resale values if I keep for 2-3 years. I remember the precovid days when the low end EVs had RVs in the 30-40% range after 3 years. (My Kia Soul was ~32% after 3yr iirc)
I guess it depends on what incentives you qualify for. Iāve got approx $12,050 in incentives + 7500 tax credit, so if the vehicle is 30 - 45% off MSRP after 3 years i should be able to sell and effective break even or better.
Given the $4000 tax credit for used EVs under $25k, I think the floor for depreciation will be $23k. A dealer buys the used Bolt for $23k, sells it for $25k plus add ons. The net to the customer is $17,500 ($25k less 30% tax credit). Thatās a steal. They should be so easy to sell with the tax credit that I wouldnāt be surprised if dealers are willing to buy for $24k and sell for $25k plus add ons plus dealer fee plus warranty plus financing etc.
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GM never offered the full 7500 before they hit the 200k cap. The Volt only got 5k and change.
Buying is the way to go with the Bolt. 7500 stacks with Uber and a couple other GM incentives.
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that definitely sounds like a no brainer - whatās the $12.5 consist of?
on 2022 model
- 6300 rebate
- 3750 current Bolt Lessee
- 1500 Supplier
- 500 costco
so its $12,050, not 12.5
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3750 requires you to ground your lease.
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its perfect times because my leases ends on 1/22. I can extend 6 months but i think it might be worth doing. My only fear is with my job i could end up being over the income threshold for 2023 and then would not be able to take advantage of the 7500.
Not worth it if you got VIN swapped.
I canāt. I tried twice but being in Michigan the law is not in my favor but favors Manufactures
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Explain the flippable strategy here versus the lease.
Buy a base bolt for $27k.
I get the $7500 from the Feds
$1500 from my local utility.
Iām into the car for $18k then sell for $23ish?
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Highly unlikely it will be worth $23k. Anyone who buys a used one at $23k versus a new one that is less with the tax credit is a fool.
In the 2019 boltpalooza, I was able to get the 43 k msrp bolt for 26k and flipped for 24k after claiming 3.75k credit. With full 7.5k credit, numbers should be similar. Remember not everybody qualifies for 7.5k credit, both for the low end and high end of the income scales.
Not 23k but 20k doable. You would literally be offering a 25% discount over buying from a dealer if you flip the bolt with less than 500 miles.