Spark EV Lease - Is it a good deal?

Ask the Hackrs
1

Hi Guys,

Today I got a quote for an Spark EV 2016 2LT (w/fast charging provisions), and since this is my first lease I would like some insight on whether or not the lease is a good deal.

The drive off amount is $2000
The monthly payments are $142.66 including Tax
Residual: $10311

What do you think?

Thanks

PS: It would be nice to include the Spark EV in the lease comparison if possible

2

Here are the numbers for Spark EV 2LT:

39% residual (15K/year for 36 months)
38% residual (15K/year for 39 months)
.00040 MF
$9,850 lease cash

From reverse calculating that quote, it looks like a selling price of $25,000 assuming an MSRP of $27,135. That’s a good discount! TrueCar in NorCal is telling me $25,687.

You might want to consider the 36 month lease instead of the 39 month. It’s $2/more per month, but you can skip a year’s license and registration.

Once you factor in the $2,500 CA rebate, you’re down to $125 or so a month! Looks like a good deal to me, especially for 15,000 miles per year.

3

Thanks Michael, the quote was for 39 months and 12,000 miles per year, and I noticed in some web sites that there are 2 discounts that may have been applied to my quote:

$1,000 CONQUEST CAR
$1,000 Purchase Bonus Cash

Do you happen to have the residual for 36 months 12,000 miles lease? Is that published on some public website ? (I could not find it)

Best

4

Add 2% for 12,000 miles per year. Add 3% for 10,000 miles per year.

It’ll save you roughly $17 and $25 per month respectively.

5

Plus, the 36 month lease keeps you in full bumper to bumper warranty - so nothing to possibly fix before you turn it in.