Polestar 2 EOY 2023 deal check

I’m in SoCal, but I don’t think my location is important to this deal.

The Polestar 2 is having a mid-model refresh for 2024, with increased range, enhanced batteries, and some technical goodies. So, out with the old. To that end, they are offering a lease credit (which now seems pretty standard for non-domestic makes) of $7500 (cap cost reduction), coupled with a .0001 money factor. For a dual motor AWD with performance package (required for this low money factor), the lease is 573 + tax, with a 2k cap cost reduction (from customer), plus drive-offs. This is for a 3-year lease, with 7500 miles per year.

I can do much better with a Volvo C40 Recharge (which shares some of the innards with the Polestar 2), but I sat and drove that car, and it’s got glitches and issues that the Polestar doesn’t.

The problem with Polestar is that they (seemingly) don’t negotiate on the price of the car, as that can only come from corporate deciding to lower the MSRP. So, if I can’t get them to lower the selling price of the car, I don’t know where I’ll get any more discount, as the money factor is already just above zero (.24% APR) and the residual value is fixed.

iirc they sometimes do discount demos. Keep an eye out.

Do they actually have a base model in inventory, and are you satisfied with its features? Every time I look into Polestar I think “really, THAT’s not included?” and end up configuring a $70,000 car.

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When you are getting money factor that low, then you are already getting extra discount. Think about the situation - lets say if a brand does charge 4% APR worth money factor on 60k worth car, then you would be paying roughly $5500 for the rent charges. Technically speaking, a brand can show you $5000 discount from MSRP and charge you 4% APR worth money factor. Or give you no discount on MSRP but charge you very little money factor like that. Both would be the same deal if the car is kept for the entire term. Alot of dealers can show alot of discount on paper but they keep raising the money factor to offset the cost.

I had a Polestar 2 Dual Motor last year, and drive was amazing!

Manufacturer discount is not the same as dealer discount. Dealers can still discount further.

Polestar is a one price brand. They dont haggle just like Tesla.

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The local “Polestar Space” will loan us a model for a day (or two) so we can properly test the car in real-life conditions. I appreciate the comments on the money factor’s effect on the lease pricing. That is significant. However, the residuals are pretty poor on this model.

I wouldnt be surprised for the poor residual. At the moment, all electric cars are not holding their value well. I sold my Polestar 2 in July 2022 to a wholesale car dealer, since then this car is moving one dealer’s lot to another. It has been almost 10 months and not even a single dealership was able to find an end user to sell this car. Recently that same car ran thru auction lane at $39,995. Not sure even if they sold it or not. Overall, every single dealer who took over this Polestar, lost money.

Please make sure you do the test drive before you commit.

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Be sure to pay attention to interior volume and trunk space. I loved everything about this car except for that. It’s deceptively small on the inside for the size of the car and, compared to similar sized cars (and especially EVs), the trunk is tiny. Might not be a problem for you but it was for me.

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Thanks for all the informative replies. It turns out that the super low money factor is only for cares equipped with the performance package. This adds about 60 hp, brembo brakes, 20" wheels, adjustable Olin shocks, and yellow seatbelts. That’s the least desirable option package, so no mystery why they are pushing it.

I’m going to pass.

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Actually, the yellow safety belts are the best option. 20 of the additional HP come from the car recognizing the yellow belts, and being inspired to drive faster and stronger.

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