I’ve ordered a fully loaded Chevy Bolt Premiere, which will arrive soon, and am in the process of getting initial lease numbers worked out with the dealer.
I have done some basic research, and do I believe I understand the details of how leases (mostly) work, but am new to the process and would welcome advice.
MSRP on this configuration is $43510. I don’t believe that, currently, many dealers are willing to go below MSRP on the 2017 Bolt. This dealer has indicated the same, and relatively consistent with other Bolt customers on the forums who have worked with other dealers in the past few weeks.
So, I am (wisely or unwisely) considering MSRP as a probable given cost of doing business for being an early adopter on the Bolt.
That said, the first round of proposed lease numbers from the dealer intuitively feel high to me, and I’d love some advice as to (1) if that is true, (2) what if anything looks off, and (3) what is the best path forward.
Here are what I think are the relevant numbers. (Let me know if there’s anything I am not posting here which would provide additional insight.)
MSRP $43510
Selling Price $43510 (Discount $0)
Gross Cap Cost $44185 (MSRP + Doc + Acquisition Fee)
$2500 CCR from GM
$1073.89 of GM CCR applied Upfront (1 month advance payment + License Fee + ?)
$1426.11 of GM CCR applied as Cap Reduction
Net Cap Cost $42758.89
$0 Down from Customer
36 months
12k miles
59% residual
MF .000721
Monthly Payment (pre tax) $524.01
Monthly Payment (incl tax) $564.62
Any thoughts or constructive advice would be appreciated!
Those numbers are crazy high! - are you saying the full $7500 federal and $2500 rebates are included and you will not receive a $2500 check from state??
You’re gonna pay $20,304 to lease a car that will be worth $25655 in three years?
As a point of reference I leased a new $73K BMW X5 40e plug-in in August and my payment with minimal down (MDS’s and low drive off) is $599 per month including 9% tax (10/36)
I knew the first bolt numbers would be above 500. The lease can best be tweaked by Checking the MF which is high (why is it not 0.0040 like volt) and the residual is not particularly attractive either.
First, the MF should be 0.0005 according to last months numbers (I haven’t seen January numbers yet)
Both the amount of CCR and the residual for 36mo/12K a year is correct.
Putting this in the forum calculator, I get a payment of $475 w/o tax, $520 w/ tax, almost $20K for a three year lease.
Are you saying they would add 5K to the residual value in order to get you to the full 7500 rebate since GM is effectively getting it?
I would definitely not least this vehicle for that price, but that’s me. For example, I got a fully loaded 2015 BMW i3 REx tera world for $195 a month w/ tax, nothing down.
I would not lease at anywhere near that price. I’m on my 2nd Volt lease and you need to wait till the MSRP drops on these. They also need to give you more of the $7500.
MF, residual and Cap cost are the driving factors.
I would wait if you don’t need a car right now and can wait at least 6 months. If you can’t and are set on an EV do as a previous posted suggested and lease an i3, e-golf or Volt.
Leasing an EV for $20K for 36 months just doesn’t make financial sense when you can lease something similar (yes with less range) for $4K - $9K for those 36 months.
Seriously, that is one of the most horrendous lease deals I’ve ever seen. This is, after all discounts and rebates, a $30,000 car if you purchase it outright. You’re going to pay the lease rate for a $60,000 car to buy a $30,000 car? HA!
Being the first to drive a bolt must certainly be priceless. Even though GM was thumping on its chest that it would be the first 200 mile range EV under 30k, this dealer is trying to lease it like a 50 to 60k car, so that whole for the masses premise goes out the window. If only GM kept its word on the 30k car and had a 300 lease, then it could have had a chance of mass adoption.
I am not sure how you will feel making the 20th payment of 500 when the deals on the bolt will be in the 199 range. But early adoption is always tricky.
haha… I was thinking the same thing! For like $100 more per month, you could drive around in a Model S! I’m excited about driving a fully electric car, but $550/month is a total rip off. I’ll wait for my Model 3.
Lease a Tesla? Sure. Here’s the cheapest possible Tesla lease (S60, RWD, no options):
$849 a month BEFORE TTL after I eliminate Tesla’s bogus gas savings baked into the monthly payment. Oh, and you need to pay $6.5k up front too.
So actually $0 down lease would be $1,029 per month. Plus tax, title, and registration.
MSRP is $43.5k for OP’s Bolt. MSRP on the Tesla above is $69.2k.
So a Tesla that has a sticker price that is 59% more expensive than OP’s Bolt has a month lease payment that is 96% more expensive than OP’s Bolt ($1,029 versus $524 pre-tax)
LOL, sounds like a great deal indeed. But hey, it’s a TESLA!! WOOOOOO
You people need to stop drinking the Bolt haterade.
Tesla sent out a $600/month Tesla lease deal last month to people that ordered the Model 3. I think it was available to anyone though. Granted yes, you had to put some money down, but still if you’re spending $550/month on a bolt, maybe the extra 5k and $50/month down is an option for you. I understand that’s a stretch, but I’m just trying to point out how insanely high this price is for a little Chevy car.
Like others have mentioned, unless you just HAVE TO have a fully electric car, I’m sure the Volt would be a great option. You’ll still save a ton of gas, (especially if you have short drives), you can lease the volt for 24 months and then hopefully by that time you’ll have more options like the Model 3.
We are not BOLT haters. We just wanted GM to launch the car with resonable pricing and leasing for mass adoption. By not passing the 7.5k credit on, allowing dealers to have only 5 at 35k base MSRP and the rest at 43k, GM is not promoting BOLT as an affordable extended range next gen EV but as yet another toy for the green and rich crowd.
The industry and public do not need another niche 40+ k EV, they need a mass 20 - 30k 200 mile range EV.
I’m excited about driving a fully electric car, but $550/month is a total rip off. I’ll wait for my Model 3. 
