Rate my deal, please???

[michael]

Dealer has offered Bolt premier with DCFC, Infotainment, and Confidence (43, 510 MSRP) for $460/month including California sales tax, zero driveaway, 15,000 miles.

I think this is a good deal. Anyone know a way to do better? Any dealers want to make a better deal?

Thanks!

 

[LeftieBiker]

You may do better by asking for a lower mileage limit - if you don't need 15k.

 

[ssspinball]

Personally I wouldn't call any leases over 1% of the MSRP a good deal. I am seeing low $300s for Bolt all-in.

 

[michael]

Where? That doesn't seem plausible. Let's compare apples to apples. Premier with dcfc, $43510 msrp. 15k miles, zero drive away, price includes tax.

$422 per month plus sales tax =$460

I do need 15k so that's not an option

Can I do better or is this a good deal?

 

[LeftieBiker]

It would have been a good deal when the Bolt came out. Now it's a little expensive. Make sure they aren't charging more than .0003 for the money factor, unless you have less than great credit. If they are including the first payment in the down payment, you might want to have them remove that so you are lowering the MSRP more. Treat the lease payment like an MSRP< and get them to lower it any way they can. Hopefully you weren't planning on buying the car off lease...?

 

[michael]

There is no down payment...it's zero driveaway. I make 35 payments of the agreed amount. And for sure no, the car goes back at the end of the lease.

Do we know of anyone who is paying less for that car? If so where did they get it??? I'm not committed to this deal, just trying to find of if its as good as I can get elsewhere or if I should keep looking.

My credit is very good but they told me interest rates had increased this month. Anyone know if that true?????

 

[BoltShopper]

I find it easiest to compare lease deals by looking at the total cost over the life of the lease.

Your total cost looks to be $16,100, for a Premier with extras and 15k miles.

The cheapest deal I have seen is at Rydell in SoCal. They have an LT for $11,545, all in, with 10k miles.

I don't think I've seen any deals on Premiers with all those extras and 15k miles.

So the question for you is whether the difference between the car you want and a basic LT is worth the $4500 difference in price.

You might try emailing Rydell and seeing if they'll match or beat it. Or Tracy Chevrolet if you're in Norcal.

 

[michael]

Thank you for the suggestion, but this is the exact car I want. I'm not asking if I can find something else cheaper...of course I can. I asking if there's a better deal available on a premier with DCFC and the two packages.

And yes, I agree, total cost over three years is a good way to compare.

The advertised deal I'm finding at Rydell is 259 plus tax plus 3390 at inception.

I figure the total cost to be 3390 + (35 *259 * 1.09) = 13,270

The cost of my proposed lease is $16,100 as you pointed out. So about $79 more a month. Yes, for sure, two and a half dollars a day worth it to me, especially since I need the miles.

 

[BoltShopper]

Then it sounds like a good deal for you. I understand about wanting a Premier, I may want one myself. But I haven't seen any good deals on them, so the only comparisons I can make are to the LT deals, and then "adding on" what the upgrades are worth.

I have heard some other folks say that better deals are coming, because the inventory is sitting too long. And that there are good sales on Memorial day.

But I certainly haven't seen any better deals right now on the car you want.

 

[LeftieBiker]

Sorry about skimming past the "zero driveaway." One way to (sometimes) get a better deal on a lease is to offer a larger down payment. This can be risky, as you usually lose any down payment if the car is totaled, but even $1k more might get you a drop in money factor (interest) because dealerships love some cash up front.

 

[michael]

My impression was that the money factor was defined by the leasing company based on market factors and the applicants credit. I saw tables a few months back listing the money factors but I can't find a current one. The dealer is telling me that interest rates have increased but I don't know whether or not that's correct.

I know that in the past BMW adjusted money factor based on the amount of security deposit people placed on leases, so apparently they, at least, had tuning of the rates as an option.

 

[LeftieBiker]

Dealers say that they can't change things like money factor, but it would be more accurate to say that they can raise it above GMAC's requirements, if they want. If that happened here, they can lower it back. I think that .0003 (if that's the right number of zeros) is what was specified for good/excellent credit. So if they are charging you .0005 and you have excellent credit, I'd look at that. Again, a slightly larger down payment than is going into the zero down (GMAC gives you $2500 of the $7500 Federal tax credit) may get them to lower the MF.

 

[cab]

It doesn't strike me as a bad deal given:

1. The Bolt is new and the "fire sale" deals you see on other EVs (either now or at various points in their lives) just aren't there yet. However, the only way to get those is to "wait". If you aren't willing to or can't then it simply it was it is...I would recommend avoiding reading threads 6-12 months form now on "lease deals" to avoid the pain though.

2. It is a loaded Premier. Leases are always better on stripped based models because "options" depreciate faster than the base value of the car so you take a bigger hit on residual, etc. In short, you "pay to play" with loaded upscale models since those features don't hold their value as well and the leasing company knows it. Did that stop me from leasing a fully loaded 2012 Volt back then - nope. Like you, I wanted the car I wanted and didn't want to settle for less....it did sting a bit, but as my first "electric" the gas savings helped to cushion that blow.

 

[michael]

Good comments.

Yes, I need a car now, don't have the luxury of waiting a year. I've formed the impression this is a pretty good deal for today, for this car. So my decision will be to get this Bolt or to get a Volt instead, for about $100 a month less.

I've been driving a Volt and like it a lot. This weekend I'll rent a Bolt for a few hours, see how I feel about it and then decide which way to go.

 

[DanCar]

Check out the lease deals listed here:
https://plus.google.com/u/1/communities/108210213911566330785/stream/78c7bad6-17cc-4025-bb1e-6d14dff923fb
http://ev-vin.blogspot.com/

 

[DarrenDonovan]

Check out the lease deals listed here:
https://plus.google.com/u/1/communities/108210213911566330785/stream/78c7bad6-17cc-4025-bb1e-6d14dff923fb
http://ev-vin.blogspot.com/

Rydell Chevrolet has 2 Bolts for $219 + tax, 10,000 miles, 36 months, $3290 due at signing.

 

[michael]

Yes, but they are stripped LTs, have 10,000 mile limits, and a huge down payment and doesn't include sales tax. Not apples to apples.

Total cost is 3290 + (35 X 219 x 1.09) = 11,644

 

[d2170]

Yes, but they are stripped LTs, have 10,000 mile limits, and a huge down payment and doesn't include sales tax. Not apples to apples.

Total cost is 3290 + (35 X 219 x 1.09) = 11,644

Minus California's rebate of $2,500 = 11,644 - 2,500 = $9,145 (Total 3-year cost)

That's pretty good for an EV that has 238 miles of range !

And keep in mind because of the Bolt's long range, some people only charge at work M-F for FREE (and don't charge at home at night)

I think the TCO of the Bolt is already on par with the ICE Toyota Camry! (especially for those who can charge for free at work)

I can't wait for more 200+ mile range EVs to hit the market in the near future.

F*** oil.