Curious how that conversation went. I stopped by a dealer to see what kind of numbers they’d throw at me. Because of bolt mania they didn’t want to budge off MSRP.
No, you are borrowing the average of the RV and cap cost, plus interest and any fees rolled in. In the case of a one-pay lease where depreciation is $0, you are still financing the RV amount plus interest any fees.
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@Jon I think maybe you’re being a little too argumentative and should cut @bm36 some slack here.
Literally from leaksehackr.com 101 blog post:
“When you lease a car, you’re paying for the depreciation that occurs from your use of the vehicle”
and…
“The capitalized cost is the amount financed; it’s the selling price minus any incentives and any down payment.”
They literally give a formula of (cap cost - RV)/months of lease.
Where are you getting the idea that there is no depreciation in a one-pay lease? What accounts for the residual value if not depreciation?
I recall other leases (not this Bolt) where cap cost was actually below RV for what the lessee originally wanted (10 or 12k). They actually took a higher mileage allowance just to get a non-negative value for net cap cost less RV, and thus have the software accept it.
It was like $150 ish a month, all from rent charge and obviously some tax.
I remember some Tacoma (?) deals needing some trickery like that to get funded.
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In a one-pay lease, the adjusted cap cost is equal to the RV, thus the depreciation is equal to $0.
I think the technical definition is that the one-pay is cap cost reduction, but a practical explanation could be that the one-pay is simply an advance payment of all the monthly depreciation payments. Here that would be $146/mo equivalent (plus any finance charges) which seems about right.
So how long do I have to live in NJ to get the rebate…I could spend a week tops!
you have to be a prior resident and a resident for minimum of 2 years after claiming rebate.
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Ok, real noobie question. I’ve been following for a while now and basically have a good idea of how this works, not specifically this deal, but overall leasehacking… but I’m unclear how that initial dealer phone call/ email is worded. Do I state that I am looking to lease this car (here, bolt) and then negotiate on the MSRP? Or do I negotiate it as buying it, and then choose to do lease? Or do I work out the numbers and negotiate a monthly payment based on a discounted msrp? Not sure if I’m being clear, but I’d appreciate all and any replies or direction where I can learn more about this. TIA
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Definitely don’t do this, regardless of what you may have read elsewhere on the internet. Make it an easy transaction instead of coming off as someone intentionally being evasive/deceptive or just someone plain indecisive.
Every other nuance of contacting dealers has been discussed in detail many times on the forum.
For example
And sometimes you need to get on the phone too. Use Google Voice which you can turn forwarding to your real number on/off at will.
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What dealer did you get this deal from?
Great deal. I paid $5550 12k/yr. Left some money on the table in CA US. I think $5k flat is doable.
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Pretty straight and simple. call up and ask to speak to the internet sales manager or just the sales manager. Tell him you have a Costco membership and also have a lease if you do. It doesn’t have to be a GM lease but any existing lease will qualify you for the additional 1500 which will be needed to bring the one pay lease down anywhere from $5,000 to $5,300 on an LT 3yr/36k miles. They will try to sell you a fake wear and tear for 700 bucks just say no period some will give you the real wear and tear for about $1,000 which is worth it because it covers 5,000 in potential damage at the eol. I would opt for the Premier and $6k. $5k in options for $1k.
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Thanks for all your help! No other leases so pretty happy with 6700 one pay
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I really want to buy Bolt as it’s almost free.
Can you share the dealer information please.
I have contacted the most dealers in NJ but they all ended up with around 10k quotes
Have you made counter offers? If so, what was the response? It’s very unlikely that any dealership is going to open up with an aggressive offer like the ones that have been reported here.
October looks like a better month for Bolt mania… congratulations on your new car!
Chevy lease cash-ok! Lease conquest-ok!; Costco-ok!; But I don’t understand supplier which I can get or college graduate which I can get. Are they the same? Stackable? I’m told to pull out the supplier code last but don’t understand why. Help!
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College and Supplier are the same discount, it’s worth about $1,400 total on a Premier but if a dealer is already discounting deep you’ll probably get a few hundred more out of it. It can be helpful to wait on that so you can get a baseline discount first, then see how much more you can squeeze out with the code. Ready to move on from the Clarity?