Thoughts on One-Time Pay [2020 Chevy Bolt LT]

Ask the Hackrs
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1

I’m in San Francisco, looking at leasing a 2020 Bolt LT. Never considered leasing before so a lot of learning from LH. Thanks all!

When soliciting offers, I’m leaning towards one-time pay vs upfront/ monthly payments. Reading this forum, I see that the preferred approach is “$0 down” because if I total the car on day 1 (extreme example), I lose the entire one-time pay + on the hook for the Selling Price of the Car? So if the same thing happens if I choose “$0 down” plan, I get to walk away from the lease and the insurance cover the Selling Price of the vehicle?

I’m saving 12% of total payments over the life of a lease by going with one-time pay. So am I basically comparing between a 12% savings by taking on the risk of losing that one-time payment if something happens? What am I missing?

For a 36 mo., 10k mile lease, I’m looking at

One-time pay: $7,060 (DAS), before $2,800 of local incentives

OR

Upfront: $1,684
Monthly: $175
Total: $7,984 + Tax

2

One-pays are prorated with GM financial in a total lost.
Down payments are cap reduction and are forfeited in a total lost.

3

The One Pay is basically treated like an escrow account. You have a GM Financial account, and monthly payments are “made” from the advance payment. You would receive a prorated portion of the money back on the event of a total loss.

4

You’re missing all the finer details on your numbers, discount pre incentive, MF, etc

5

Just ask @ethanrs