My wife drives a 2011 Honda CRV and while she wants a new car, she doesn’t want a car payment while she pays off her student loans over the next five years. I was telling her about the Bolt deal since she could get a new car and the one pay payment (~6-7k) is doable. However she’s hung up on the looks (which I get) and she asked me to see if there was a similar deal out there for anything else. I searched the forums and didn’t see anything, but thought I’d ask in case there’s something I missed.
Not sure if one of those Ioniq deals can be duplicated in CA. But Bolt is the best bet you have now. I mean she is nitpicking free cars, don’t end up in r/choosingbeggars territory.
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How does this logic make any sense? One-pay is also a payment … and that $6-7k lump sum would save more of your student loan interest than making monthly payments
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Ditto. What’s the rate on the student loans? The money factor on the Bolt works out to something like 1.15% interest on the traditional lease (assuming good credit), which I assume is lower.
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I agree with you 100% but told her I’d check.
I didn’t include that we can also get 3k back in rebates (sorry) so really I’d use savings to buy it for her and she can sell her Honda and use that towards her loan.
If you’re talking Bolts and post-sale rebates, you’re talking CVRP. Why not look at the list of eligible models, and how they have been leasing recently, to answer her question?
Hint: the two models that are leasing best have already been mentioned.
As long as you have a plan for what happens after the lease ends. Unlike a 2011 Honda, a lease only lasts three years on average
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I didn’t think to do this and that’s a great idea. I have a friend at Hyundai and I’ll see if he gets any discounts on the Ioniq.
Tell her that’s why it’s a deal, if you looked great it wouldn’t be cheap.
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The problem with the bolt deal, is you need to drive a bolt for 3 years.
The Nissan Leaf EV has a pretty great 24mo program right now.
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I don’t love Nissan, but I’ll take a look. Thanks!
Free? Please explain how it’s free.
Don’t post the same thing twice
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I think he’s considering (as do I) that a $3k car is essentially free.
If NJ and CA these are sub-$3k, and free-free (as in beer) after all rebates (assuming you are eligible).
Has she driven the Bolt? She might change her mind if she does, it’s a little rocket off the line.
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Insurance on a 10 year old car with about half the MSRP of a bolt is also something you need to factor in if you are tight on the finances. But I suppose the gas savings can help with it?
Just something else to consider before you make a decision.
Alcohol is a great ice breaker
Interestingly insurance on a 2020 cars with double the MSRP of my previous vehicle is cheaper than insurance was on a 5 year old Nissan Altima.
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