Hi LH,
Looking at options between lease and finance for 2022 Bolt EUV but not sure I’m running the numbers correctly in the calculator. Any help correcting the calculator would be much appreciated. Plan to pay tax and non-tax upfront + first month payment.
It doesn’t look like you have Acq or Disposition fee on your Excel sheet?
What’s the idea or purpose behind $5,000 down on the lease? Ideally it isn’t b/c you want a “lower payment” is it?
$5k was to cover tax + non-tax + first month and any remaining would be a downpayment for finance. For lease it would only be tax + non-tax + first month.
I asked about acq and disposition and they said price showed was all-in for finance. lease would add GM disposition.
$34,495 includes $995 dest charge. Sorry for the confusion.
The purchase is a “better deal” with the rebate. The question is if you think values will hold up in 3 years. If you think it will be worth less than the residual you can walk and let GM eat the difference. If you think it will be worth more you are in a better position financially with a lower up front cost on a purchase.
Luckily it’s not an expensive car so either situation will probably come out close. It really comes down to what you are comfortable with in your risk tolerance. The money factor is close to the interest rate on a loan.
$13k to lease a car that you can buy OTD for 26? The choice seems obvious
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Appreciate the quick and straight-to-the-point responses. Choice is clear… Thanks LH’s
DE tax is a lil wacky btw, it’s the Delaware ‘documentation fee’, 3.75% on purchase, plus 2% usage fee on monthly (last I remember).
Agreed. 4.25% on selling price, the “doc fee” and for lease a 1.9914% usage fee.
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