Mbfs, in some states, charges a 4% early buyout penalty
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Not surprising. It would have been broken out on your lease contract.
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Been looking into this more and the Sorento PHEV is assembled in S Korea, so it shouldn’t be eligible for the $7,500 … at least according to one VIN I found and searched on Alternative Fuels Data Center: Electric Vehicles with Final Assembly in North America
If you purchase under Section 30, it isn’t. A lease falls under Section 45, which doesn’t have the NA final assembly requirement.
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Fantastic. Now to find a dealer who will lease with Ally. I posted earlier in this thread about likelihood of positive equity in my 2021 Sorento hybrid - and yesterday got a “can we please buy your car” text from the dealer.
You have been marketed-to. Do your own research on what your Sorrento is actually worth.
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Everyone receives a similar message, they just want to get you into the door.
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I’m aware - just funny timing.
Every dealer within 100 miles of Denver, including the big stores doing a lot of out of state Tellurides, indicated 12 months wait on the PHEV Sorento. They have orders stacked up without movement. No store will lease through Ally, and no one could speak to the tax credits. Tough.
Interesting question, if you lease a VW ID.4 and then immediately buy the lease out do you lose the 3 years free charging at Electrify America?
You still keep it. They link it to a EA account.
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At least until they finally figure out plug and play by VIN and lock out cars that change hands on paper.
They already have ! On the tesla discord, there is talk of EA free accounts being cancelled when using a different car than what was authorized. Seems like the updated EA stations and certain cars exchange data to verify vin which makes you SOL if you planned to keep using it.
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Apologies if I am asking this in the wrong spot.
I just received an email from lucid offering $7500 off as cap cost reduction if I lease my lucid. Does anyone know if there is a penalty to lease it and pay it off early to get the $7500 discount? It is thru BofA and the customer service rep said I couldn’t get the terms until I apply which I can’t do until they assign a vin to me.
If Lucid wants to pass you $7500, as long as there isn’t a buyout prevention you are golden.
But then again that lucid lease is pretty bad, I saw 138k/ $2069/m with $16k due on a 48/10? That’s pretty horrible.
yeah, I think they’re gonna need to pass about 75,000 to make it worthwhile to lease one of these things🤯
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Why don’t they?
Example one: Polestar 2 leases.
Volvo Financial are going to lose thousands per leased car. Depreciation is about 35% in year one and the RV was 60% I think in a 3 year lease. One of the car rental agencies is dumping them and causing values to tank. I rented one for 10 days at $190/week over the holidays because the car rental agency basically told me nobody wanted it and it rarely rented.
I think it’s a huge financial risk for some of the leasing companies as they will be underwater if the carmaker keeps cranking out cars (i.e Polestar delivered 50K in 2022) but real demand is low.
Ooo who’s renting a Polestar for $190
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There was a guy on Reddit who snagged a sub $200/week Polestar 2.
I rented one in Austin for $190/week. A sweetheart deal as I had rented a Standard car at a corporate rate and was given a full-sized Elite.
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Hi, I am looking into a VW lease and doing an immediate buyout. I can do the lease anywhere from 12 to 48 months. If I buyout after the first month does it matter how long the lease is? Any benefit to shorter or longer?
Depends on what state you’re in and how lease taxes are handled.
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