What’s done is done but I think that the dealer just played a shell game with the trade to make it look like they were giving you “more”. This is usually why it is advisable to handle the trade as a separate transaction altogether.
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So you have a history of getting hosed… anyway don’t compound the mistake by buying the ID4.
It will depreciate like a rock.
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Gas is over $4 in CA. I commute about 95 miles daily (round trip). EV is the way to go.
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To each their own. I’m on the East Coast, btw.
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At 4 dollars a gallon you’re looking at roughly 275 dollars a month in fuel costs, assuming a comparable 30 MPG ICE vehicle. The question becomes what, if anything could you have gotten in an ICE vehicle that was at or below your break even point of around 425 a month, zero DAS?
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There are also other EV much cheaper than this ID4.
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For some people just paying one bill even if it has a premium on it is preferable to having multiple smaller bills.
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True, I’m just using it as the example because it does include free charging. In theory you could never have to pay for “fuel” during the course of the lease which makes it easy to figure out what the break even point is on a monthly payment basis. Regardless, I am pretty sure that OP is gonna have to buy this if it will be their primary vehicle with that kind of commute. That’s almost 25k miles a year without using it for anything else if you do that 5 days a week.
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Yeah, I know of several people at this point leasing one to cash out the BEV credit off the bat with the plan to drive the wheels off of it during the free DCFC period, then buying it out or sell it on forward at that point.
Yup, all those miles come at a price even with free charging. Either XX cents per mile when leasing or getting lowballed at resale.
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OP commutes almost 100 miles per day. That’s over 60k miles in 39 months. OP will need to pay over $6k in excessive mileage charge.
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Planning to buy it. I had to lease to get the full federal credit.
Congrats. Not only you are making payments on your car lease but also boat payments for the dealership manager.
Without the boat payment, this should have been a $200 lease with only the 4.5k trade allowance as down payment.
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IMO, it makes no sense for OP to have leased this car at 10k miles per year.
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Unless the purchase was to capture the fed rebate if they didn’t qualify for it on a purchase.
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I get it if the point was to immediately buy it out? I probably would have just waited if I could because the lease cash probably wasn’t going anywhere and you’ll eventually get to a point where these are being discounted too.
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I thought about waiting, but I knew if I did, my trade in would also drop significantly because its my commuter that would have significantly more miles and the market would be dropping for used cars.
You will always be fighting negativism equity because of your commute.
You only got lucky on the trade this time because of the crazy car market.
I would try to just buy this thing outright immediately instead of paying that rent charge for 39 months.
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Yea I’m going to try and buy it soon. I would NOT have paid MSRP or higher, if it weren’t for the trade. Yes, overall I got hosed, but I paid for ceramic, which I wanted and got a good deal with my trade. If I outright bought at MSRP, I would only be able to get about 5K of the federal credit (wife is a student, I’m a student and work, can’t ROTH convert).
Yes, I could of gotten a much better deal and I should of searched more, but this was my first lease. I now what to look out for now and the breakdown to ask for, rather than just the lease payment and residual.
Not much else can be said. At this point, enjoy the car.
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