Signed: 2020 Bolt LT $267 1-pay / 334 years!

Wasn’t in the market but with the incentive stack here in NJ it was hard not to be opportunistic.

$267 net out of pocket 1-pay, taxes & fees included… Including $300 cash back rebate on new credit card = free car!

2020 Chevy Bolt LT
MSRP: $38,950 (DCFC and Comfort & Convenience - none of the driver aids)
Selling price: $35,062 (10% discount incl. supplier)
Monthly Payment: $0 (one pay)
Drive-Off Amount: $5,267
Months: 36
Annual Mileage: 10k
MF: .00001
Residual: 53%
Incentives: $5,750 Chevy lease cash, $1,500 lease conquest, $3,000 Costco, $5,000 NJ post-sale
Region: NJ
Leasehackr Score: 334 years

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@ElectricEliminator, your throne is fragile.

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Well I did do pretty much the same thing on a Premier :stuck_out_tongue_winking_eye: but it’s an awesome deal regardless! I had a feeling that we’d start to see these pop up again as inventory hit the lots. Get while the getting is good, because these are probably the last of the 2020’s rolling in.

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I am noticing a bit more inventory on the lots. Has production on the 2021 started?

Disappointed you didn’t stand strong on the $267… :slight_smile:

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Order banks opened last week. Production is supposed to begin on or about 11/16.

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Man how am I supposed to compete with these $5000 rebates?!!!

@ElectricEliminator - I’m with you; we get bonus points for Premier deals.

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Dealer did pull this in from a lot out of state… mentioned he had a waitlist and was trying to get inventory in from wherever he could

haha, the even 10% discount was easier to negotiate than “make it free” :slight_smile:

I’m new to these deals. Can anyone breakdown how this is free? Numbers wise. When I follow the posting I see under 20k in incentives with a sale price of 35k.

Sorry for the noob questions

It is only free in NJ due to a post-sale rebate from the state (of up to $5,000)

All the other information showing how the OP got to a single-pay payment of $5,267 is given in the first post. BTW, NJ also has no sales/use tax on EVs so the single-pay for the same deal in another state would be higher due to taxes.

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It’s a lease, not a purchase. You can do a little research on here and find out how leases work to understand how this is basically “Free.” Long story short, the money out of pocket for the lease is basically covered by the NJ $5000 rebate.

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Yeah, like in my case for example. If my state had 0% tax rate on EV’s, my one-pay would have been around $5000 instead of $6000. If I had the $5000 rebate, I’d be at a score of over 400 years instead of 22-ish!

There is a residual value at lease end that is higher than zero. It will make more sense once you read leasing 101.

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Let me help: on a lease you’re only financing the depreciation - with a 53% residual, means you only pay for 47% of the car. In this case, that’s ~$18k. Rebates/incentives are $15k and dealer discount of ~$3k pays for all of it.

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Uhh, no, that’s incorrect.

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I mean, I paraphrase but functionally you’re financing what the bank/OEM thinks the car is worth over the time you own it…? (promotional residual-setting aside)

Out of the rebates, $5,000 is only in one state. It’s important to remember what can be replicated by whom and what can’t.

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“Financing” being the operative word. The finance or rent charge is trivial here only because GMF reduces the MF on the single-pay lease.

It could be a lot higher when they stop incentivizing it like that.

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OK fair, I’m being imprecise with language. You’re “financing” the whole car but the “payment” (non-financial component) is just the depreciation, and in this case the financing component happens to be ~0.

And your point on rebates is an important one. $3k of it requires being a Costco member. Dealers won’t make up those gaps if you don’t qualify.

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