Greetings! I have leased a Bolt EV Premier 2020 which is going to end soon. There are some unused miles remained, battery has not been replaced, and car is in excellent condition. Buyout option is $22500 which is close to third parties offers.
I wonder would it be profitable to buy the car and wait for Chevrolet to replace the battery? I was hoping either Chevrolet offers sort of incentive to avoid battery replacement, or market value improves after actual battery replacement. Any thoughts on that?
Thank you very much for advice!
I wouldn’t want one in-warranty, much less out of warranty and there’s probably quite a few folks who feel the same at least on the latter part.
Do with that what you will.
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Thanks for the advice IAC!
Keep in mind that the new battery comes with a new 8 year, 100k mile warranty once installed. Not a lot of decent EVs (read: None) in the 22k price point that will include an additional 8 years/100k miles of warranty coverage on the most expensive (and most likely to fail) part of an EV.
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Thank you ElecrticEliminator! Wondering how much value could I put to that warranty?
For sales? That’s definitely an unknown. If you were looking to keep it, it would definitely be worth having. There’s a lot of uncertainty in EV values, used and new at the moment. A lot of it depends on where you live. I know for resale value somebody is going to want the new pack installed versus the new one. If you can’t wait, or if you haven’t initiated any kind of contact with the Chevy EV Concierge about some kind of trade/swap by now, it may be best to let it go at the end of the lease if you don’t intend to keep it. No way of really knowing when you will be next in line for a battery.
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Got it, Thank you!!
What about the used EV tax credit, I was thinking about this and how it would work with buying a lease out.
Maybe it give a better resale value after battery replacement as dealerships know that it will be sold easily?
Dealers can’t sell it with such a major open recall…so yes.
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What is the link to calculate such value? I am also debating about my 2020 Bolt EV Premier lease that ends towards later part of the year. In 27 months so far I only put 12k miles.
It’s not a customer facing application.
Hit us up down the line and we can throw an estimate your way.
I’m in a similar situation, I got my parents a bolt in NJ during the Bolt craze and the lease is up in October. They just got their battery replaced 2 days ago haha. 30K mile lease and they have driven 6k…
2023 is a nice improvement and doesnt cost much more especially after rebate.
Interesting, when you say much more, what are we talking about? The lease payout is like 21k.
Design and material used are much nicer, few new tech things like wireless phone charger, wireless carplay, ACC, ventilated seats also free standard charger install included thru Qmerit.
If you don’t care for any of it then stick with what you have.
Very useful information IAC!
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