Bolt EUV purchase or lease

Ask the Hackrs Buy/Finance
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Currently winding up a one pay (equivalent to about $265/month) on a 2020 Chevy Bolt. End of lease is in early April. Located in Chicagoland. Our understanding is that GM is no longer writing leases on the Bolt. We’re interested in a new Bolt EUV…the model we favor has an MSRP of around $36K. Residual on our current Bolt is $20.5K. Our understanding is that a residual buy does not qualify for the used EV tax credit of $4K. Not hard to find our year and model Bolt on the used market for $18K (before a possible $4K tax credit).

We are eligible for the federal new EV rebate of $7500, or the used EV credit of $4K.

Any advice on how to proceed? We think that it’s reasonable to pursue a purchase, given the tax credit, possible current GM lessee loyalty cash, GM supplier, Costco member, and perhaps a discount for any early return of the current leased Bolt (maybe $1K max). It’s also our understanding that any third party leasing company could give a discount equivalent to the $7.5K tax credit, but are under no obligation to do so, as a leased car doesn’t qualify directly for the tax credit,

Thanks in advance!

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Don’t forget to compare to what you can get on a Niro, Ioniq, ID4, Ariya, etc in the Marketplace

Especially if the Bolt qualifies for Ioniq conquest cash

2 Likes
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What is Ioniq conquest cash? Just asking because we own both a Bolt and Ioniq. The bolt lease is coming due January 2. Looking for the next thing and haven’t seen Ioniq conquest cash.

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Ioniq cash is if you lease another ioniq and own on of the brands on this post.

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Look in … …

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It’s gonna be next to impossible to get anywhere close to $265/month on any new car these days. But for EVs I’d still stick with leasing due to steeper depreciation curves and the wider variety of vehicles eligible for the full $7500. All of the incentives and discounts on new EVs flow straight through to depreciation. Also in a few years almost every new EV in the US will be NACS/J3400, why lock yourself into a purchase of obsolete CCS.

Add the EQB to your list, tons of 2023s still on lots that need to be moved and MF is low, especially with MSDs or one-pay. Free DC fast charging and free maintenance for 2 years.