Bolt EV LT - New Leaser, Am I doing this right?

Ask the Hackrs
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1

I have never leased a vehicle, was told you lose too much value, that being said this forum is helping me understand a bit more. Am I missing any hidden costs or gotchas?

(We have 2 OLD cars but each with only 105,000 miles, however was thinking now might be a time to upgrade, at least one.)

Although a Tesla would be cool, let’s be real, I am Chevy Bolt kinda cheapo. At first I wanted the Bolt with DC1 and DC2, but since the Bolt doesn’t have ACC (Adaptive Cruise), I now think DC1&2 are useless.

Here is the messaging from the dealer:
LT model with DC fast charge
MSRP $38245
-$2000 dealer discount
+$85 doc fee
+$695 bank acquisition
+$517 DMV
+7 new tire tax
-$8150 GM rebates

Total one-pay amount with estimated taxes/DMV
$9,942.83 with a money factor of 0.00001

While initially not accepting my supplier pricing, I am working on that added value.
Discounts/Rebates I have access to:
PGE: $800
State: $2000
Supplier Discount: $1400 (If honored)

All in price: $5742 ($159.5 per month)

Possible trade in ~$2000
What am I missing? Am I making a mistake? Will I regret leasing at month 36?

1 Like
2

105k isn’t all that many miles for a Honda Accord. I would check out what similar are being asked for on Craigslist before you trade in for $2000. Just glancing at my local I would think you could get close to double that if it has no major problems.

3

The trade in is not free money. So you cannot subtract it from the price you are paying.

4

Check carvanna for sale value, they often offer above blue book.

5

Thanks, I’ll look. Our interior is beat up, leather seats cracked and ceiling upholstery drooping down.

Thx and point taken, that is a cash value. Will back that out.

6

There’s a huge market for basic reliable but cheap transportation. That market really won’t care about some minor cosmetic issues that can often be prettied up with a little manual labor.

1 Like
7

A teenager would love to have that, for that price.

8

Was the $9,942.83 figure provided by the dealer? Or did you calculate it? Because I’m getting a different amount when I plugged everything into the Leasehackr calculator ($10,699):

leasehackr.com/calculator?make=Chevrolet&miles=10000&msd=0&msrp=38245&sales_price=36245&months=36&mf=.00051&dp=0&dealer_fee=85&acq_fee=695&taxed_inc=8150&untaxed_inc=0&rebate=0&resP=53&reg_fee=525&sales_tax=9.25&demo_mileage=0&memo=&monthlyTax_radio=true&gm_onePay=true

Also, what is the $8,150 in incentives? Edmunds shows:

36/10K
.00051 MF and 53% residual
$5750 lease cash
$1400 customer incentive

And how’d you find out supplier pricing is $1,400?

9

Go here - https://www.gmsupplierdiscount.com/

Get an authorization code - that is how you can verify that you will get GM Supplier.

1 Like
10

If it is mechanically sounds (which it probably is for a Honda), it can be a very viable option for somebody looking for a good car that needs a little work.

11

Consider getting heated seats/steering wheel if you use the heat at all in the winter, saves allot of battery.

1 Like
12

All of those numbers were from the dealer over text. He told me I “don’t qualify for the 1400 supplier discount, since they already are giving me dealer pricing”

13

I’m in California. A cold morning is 45.

14

Maybe ask another dealer if they do not want to budge?