CT - Lease advice appreciated

[LRH8691]

I leased a fully loaded Premier from Quirk Chevrolet in Braintree, MA. Paying $250 per month, $0 down, $0 drive off, 15,000 miles per year. Leased on Dec. 27th, 2017. Connecticut couldn’t even come close in price.

 

[LookingForBolt]

fully loaded Premier from Quirk Chevrolet in Braintree, MA. Paying $250 per month, $0 down, $0 drive off, 15,000 miles per year. Leased on Dec. 27th, 2017.

That is a terrific deal you got! Are you from Connecticut also? I heard that just the state of residency can also sometimes make a difference when it comes to pricing. Is the $250/mo with $0 down, $0 drive off, and even 15k/yr, for the loaded Premier including any state EV incentive? Or is that the price without any state EV incentive?

Of course Dec 27 seems like it was the best time to lease. Possibly the dealer was willing to give a great dealer contribution in order to hit a monthly goal and/or yearly goal of a stair-step dealer incentive.

Now on Jan 14, it seems like Quirk Chevy has exactly 0 Bolts on the lot. At the beginning of Dec 2017, it was still 40+ of them. But they sold them all, so the 2017s are gone at Quirk. And 50+ of the 2018s are ordered by Quirk, but none of them arrived yet.

 

[LookingForBolt]

359 plus tax is too high for an LT, that's true. Keep shopping. We paid 350 including tax for a Premier with options, 15K miles, zero down, zero driveaway.

Thank you for that reply. Which state did you lease the Premier with options for $350, zero down, zero drive-off, 15k miles?

But a Bolt is going to be more than a Leaf because they are not the same class of car. A 2016 Leaf is obsolete by comparison, they can barely give them away.

The numbers above are the actual numbers for the 2016 Leaf SV I leased in 2016, at that time it was not obsolete, but quite the opposite, the best non-Tesla electric car on the market.

Just when it comes to lease prices, the Bolt does non necessarily have to be more expensive then the $2000 drive-off, $160/mo with 15k/yr that I paid for the Leaf back then. Or my Leaf would have been about $220/mo with zero drive-off instead, in case I'd rather had chosen zero drive off. Just take the other reply, who just reported $250/mo with zero drive-off for a fully loaded Bolt Premier on Dec 27 at Quirk Chevy. $250/mo is not so different than $220/mo. And for an LT with QC, not a fully loaded Premier (I do not like leather, why kill animals?), then it seems like it might have also been $220/mo with zero down and 15k, or even less. So just when it comes to leasing, the Bolt does not need to be more expensive than the Leaf. That also makes sense, as the Leaf residual is about 30%, while the Bolt residual is about 58%. So for a Leaf, you need to pay for 70% of the car's purchase price during a 3 year lease, while during a 3 year Bolt lease, you only need to pay for 42% of the Bolt purchase price. Between a $34k Leaf SV and a $37k Bolt LT, 42% of $37k should be less than 70% of $34k. But GM Financial does not forward the full $7.5k they get from the federal government to the consumer, actually in my quote I just received it just gives $1.5k to the consumer, and pockets $6k, which makes it a great deal for them, and which I think is outrageous for the consumer. That of course makes it more difficult, to get to a similar lease rate, compared to NMAC giving the full $7.5k or more to the consumer, even though with the Bolt you just need to come up with 42% for the lease price, while with the Leaf for a lease you need to cover 70% of the purchase price.

 

[michael]

359 plus tax is too high for an LT, that's true. Keep shopping. We paid 350 including tax for a Premier with options, 15K miles, zero down, zero driveaway.

Thank you for that reply. Which state did you lease the Premier with options for $350, zero down, zero drive-off, 15k miles?

But a Bolt is going to be more than a Leaf because they are not the same class of car. A 2016 Leaf is obsolete by comparison, they can barely give them away.

The numbers above are the actual numbers for the 2016 Leaf SV I leased in 2016, at that time it was not obsolete, but quite the opposite, the best non-Tesla electric car on the market.

Just when it comes to lease prices, the Bolt does non necessarily have to be more expensive then the $2000 drive-off, $160/mo with 15k/yr that I paid for the Leaf back then. Or my Leaf would have been about $220/mo with zero drive-off instead, in case I'd rather had chosen zero drive off. Just take the other reply, who just reported $250/mo with zero drive-off for a fully loaded Bolt Premier on Dec 27 at Quirk Chevy. $250/mo is not so different than $220/mo. And for an LT with QC, not a fully loaded Premier (I do not like leather, why kill animals?), then it seems like it might have also been $220/mo with zero down and 15k, or even less. So just when it comes to leasing, the Bolt does not need to be more expensive than the Leaf. That also makes sense, as the Leaf residual is about 30%, while the Bolt residual is about 58%. So for a Leaf, you need to pay for 70% of the car's purchase price during a 3 year lease, while during a 3 year Bolt lease, you only need to pay for 42% of the Bolt purchase price. Between a $34k Leaf SV and a $37k Bolt LT, 42% of $37k should be less than 70% of $34k. But GM Financial does not forward the full $7.5k they get from the federal government to the consumer, actually in my quote I just received it just gives $1.5k to the consumer, and pockets $6k, which makes it a great deal for them, and which I think is outrageous for the consumer. That of course makes it more difficult, to get to a similar lease rate, compared to NMAC giving the full $7.5k or more to the consumer, even though with the Bolt you just need to come up with 42% for the lease price, while with the Leaf for a lease you need to cover 70% of the purchase price.

Leased from Allen Gwynn Chevrolet, Glendale, CA.

In addition, we got $2500 in California state money (equivalent to about $69/month) outside of the lease agreement. So effective payment less than $300/month

I always suggest getting quote for a zero driveaway lease, sales tax included. That allows apples to apples comparison. Total cost is the monthly X 35 plus any termination fee.

This car was premier with both packages and DCFC. Zero down, zero driveaway. They treated us honestly and without drama.

 

[SparkE]

People in other states should not compare to the deals that can (sometimes) be had in California. GM bends over backwards to sell in CA, to get CARB credits. It's also a much easier sell for the dealer (because of the existing infrastructure - over 40% of U.S. public charge stations are in CA).

 

[Anonymous]

As a comparison, I just leased in CT, at Premier with DC for 350/mo, 15k miles/year, 36 months, nothing down, only paid first month on delivery.

 

[LookingForBolt]

As a comparison, I just leased in CT, at Premier with DC for 350/mo, 15k miles/year, 36 months, nothing down, only paid first month on delivery.

Thank you for that price point!

At Quirk Chevy, in Braintree, MA, I currently received the numbers of either $2,500 down and $293/mo, with all fees included but excluding sales tax, or $368/mo with $0 down, including fees but excluding sales tax. This is for a LT with all three packages, as I was told they were out of the base LTs, so the price point is higher. They advertise for $1,999 down with $165/mo, or $0 down and $235/mo, but without fees and taxes. But that is for the base LT that supposedly is not completely sold out with them. Also it is for 10,000miles/year, not for 12,000 or 15,000. I thought maybe at the end of December they'd be willing to make a good offer in case they still need to sell a few to reach their monthly or annual goal, still it seems like the dealership already reached it. ;-)

Let's see how prices will develop when in the course of 2019 more long-range EVs in the sub-$40k range become available in the marketplace (60kWh Nissan Leaf, Hyundai Kona EV, Kia Niro EV)...

 

[LookingForBolt]

Update: I did get another offer from a dealership in Rhode Island, for a 2019 Bolt LT with DC fast charging, and without trade in.

The first offer was $398/mo with $2,000 down, all fees and CT taxes included, for a 36 month lease with 15,000mi/year.

Today, I was told, $339/mo with $2,000 down, all fees and CT taxes included, for a 39 month lease with 15,000mi/year.

So it seems like an additional $2,000 that they took off. Is this a good deal?

 

[theothertom]

So it seems like an additional $2,000 that they took off. Is this a good deal?

If the car is equipped the way you want it and the price meets your target price, then yes, it's a good deal.

 

[SparkE]

Update: I did get another offer from a dealership in Rhode Island, for a 2019 Bolt LT with DC fast charging, and without trade in.

The first offer was $398/mo with $2,000 down, all fees and CT taxes included, for a 36 month lease with 15,000mi/year.

Today, I was told, $339/mo with $2,000 down, all fees and CT taxes included, for a 39 month lease with 15,000mi/year.

So it seems like an additional $2,000 that they took off. Is this a good deal?

According to this : http://ev-vin.blogspot.com/

Quirk is currently offering a 2019 Bolt lease, 36 months, $2594 down, $165/mo, (but only 10K miles, w/ $0.28/mi overage).

If you actually drive 15K a year (15K exactly) then with that lease, ( (5000/12) * .28 ) is an extra $116/mo, for ... $281/mo. That sounds like a better deal (if a non-MA resident can get that deal). It's an even better deal if you end up driving less than 15K miles a year (have a friend drive on the long trips and offer to pay for ALL the gas - gas to drive 400 miles @ 25 mpg is 16*$3 ($48), while 400*.28 is $112, and that doesn't even count the electrical cost).

 

[theothertom]

That sounds like a better deal (if a non-MA resident can get that deal).

I don't know where the OP lives, but I've contacted dealers in CA and the New England states and it's a no-go unless you're a resident of those states. I'm in SC so no deal for me

 

[LookingForBolt]

Update: I did get another offer from a dealership in Rhode Island, for a 2019 Bolt LT with DC fast charging, and without trade in.

The first offer was $398/mo with $2,000 down, all fees and CT taxes included, for a 36 month lease with 15,000mi/year.

Today, I was told, $339/mo with $2,000 down, all fees and CT taxes included, for a 39 month lease with 15,000mi/year.

So it seems like an additional $2,000 that they took off. Is this a good deal?

According to this : http://ev-vin.blogspot.com/

Quirk is currently offering a 2019 Bolt lease, 36 months, $2594 down, $165/mo, (but only 10K miles, w/ $0.28/mi overage).[...]

Thank you for your response. To me it seems like these Quirk Chevy offers in reality do not exist. Quirk Chevy keeps this lease offer posted online the same for months. Then they claim it is "only for the base LT Bolt without any packages", of which - for more than a month now appearantly already - they have none on the lot. So what I was quoted now for an LT with DC and the 2 packages (and for 15k/yr instead of 10k/yr) was $3600 down and $310/month including all taxes and fees. So in the end, it is a bit less expensive than the Rhode Island dealership, still nowhere close the special offer that they keep advertising for the car they don't have. ;-)

 

[SparkE]

To me it seems like these Quirk Chevy offers in reality do not exist. Quirk Chevy keeps this lease offer posted online the same for months. Then they claim it is "only for the base LT Bolt without any packages", of which - for more than a month now appearantly already - they have none on the lot. So what I was quoted now for an LT with DC and the 2 packages (and for 15k/yr instead of 10k/yr) was $3600 down and $310/month including all taxes and fees. So in the end, it is a bit less expensive than the Rhode Island dealership, still nowhere close the special offer that they keep advertising for the car they don't have. ;-)

To paraphrase a line from Casablanca ... "I am shocked, shocked I tell you, that there is an automobile dealership that is using shady practices in its everyday business!! " :mrgreen: