Rydell Chevy Bolt EV for $299

[Jychevyvolt]

Rydell has the bolt Lt for $299/month.

 

[SparkE]

Rydell has the bolt Lt for $299/month.

With how many mi/yr? And what is the up-front down payment?

 

[scknogas]

 

[wwhitney]

Quick analysis:

Using leasehackr.com/calculator, if we assume 0.0005 money factor, miscellaneous fees of $116 (document, electronic filing, tire), registration fees of $322 (per dmv.ca.gov), and sales tax of 8.75%, then the implied purchase price of the lease deal is $36,900. [Of the $3,550 driveoff, $2,352 is capital cost reduction.]

In other words, any dealer should be able to match that if:

(a) the dealer will sell the base model LT for $36,900, $595 off MSRP.
(b) the dealer only charges $116 in miscellaneous fees
(c) you qualify for the best money factor of 0.0005, and the dealer doesn't mark it up
(d) you live in a part of the state of California where the sales tax is 8.75%

Cheers, Wayne

 

[phil0909]

$3,550 driveoff

Aren't they saying they want $6,050? The $3550 plus your $2500 tax rebate.

 

[Jychevyvolt]

$3,550 driveoff

Aren't they saying they want $6,050? The $3550 plus your $2500 tax rebate.

No.
$2500 down
$299 first months payment
$751 tax, license, etc....
Total: $3550


You bring $3,550 to the table. Personally, I´ll wait until and demand dies down (6 months max).

 

[Nagorak]

If we're already seeing this, I think $250 should be achievable in a few months. Seems like a good time to wait if you can. The reality is we're still early adopters and it's not unreasonable to expect to get a decent deal.

 

[user 646]

Personally, I´ll wait until and demand dies down (6 months max).

Well, that's the thing. The longer you wait, the nearer the Model 3 release is. So you can either buy right now and trade it for a Tesla in 1.5-2 years, or wait 6 months and realize there's only a few more months left until West Coast deliveries are about to start.

 

[NeilBlanchard]

This would be great if you buy it after the lease. Because only 10K / year is just a bit over 27 miles a day, or just ~192 miles a week.

Good to hear real world details!

 

[wwhitney]

This would be great if you buy it after the lease.

If you are definitely going to buy it after leasing, and you can use the full $7,500 federal tax credit, you are better off buying up front--you'll save $5,990.

Cheers, Wayne

 

[NeilBlanchard]

It depends on what the total is including buy out cost, I think. But, that is a good point.

 

[CGameProgrammer]

Personally, I´ll wait until and demand dies down (6 months max).

Well, that's the thing. The longer you wait, the nearer the Model 3 release is. So you can either buy right now and trade it for a Tesla in 1.5-2 years, or wait 6 months and realize there's only a few more months left until West Coast deliveries are about to start.

There are 400,000 pre-orders for the Model 3. It will be a long time before people can just go and get one. They have claimed that orders placed now may be fulfilled by the end of 2018 (roughly two years from now) but I suspect it will be longer than that.

 

[user 646]

There are 400,000 pre-orders for the Model 3. It will be a long time before people can just go and get one.

Yeah, but that's 400K worldwide. It's still one big unknown, and knowing the Model X delivery history, it's likely they're going to be late as well. Still, people from the West Coast who pre-ordered both the Bolt and the Model 3 will have a much narrower gap than the rest of the world.

Here in Canada, we're going to have more breathing room, so it should be possible to try both without it being a financial disaster of an early trade.

 

[LeftieBiker]

This should be a nationwide lease offer, albeit not the only one. If GM wants to raise residuals and make the car un-buyable after lease, make the residual sky-high and the lease affordable.

 

[Schnort]

This would be great if you buy it after the lease.

If you are definitely going to buy it after leasing, and you can use the full $7,500 federal tax credit, you are better off buying up front--you'll save $5,990.

Cheers, Wayne

Maybe, maybe not.

The car will sell for what the market will bear when it comes off of lease. Pretty much all lease-holders are willing to negotiate at the end of a lease to minimize their loss. You could very possibly 'double dip' the $7500 by leasing (and getting reduced payments through higher residual), and then buying at market rate, which may (likely) be well below the residual.

 

[wwhitney]

The car will sell for what the market will bear when it comes off of lease. Pretty much all lease-holders are willing to negotiate at the end of a lease to minimize their loss. You could very possibly 'double dip' the $7500 by leasing (and getting reduced payments through higher residual), and then buying at market rate, which may (likely) be well below the residual.

That's a possibility, but at the residual you'll start $5,990 in the hole. So if you can negotiate a discount of $6,000 off the residual or more, then you'll be ahead (ignoring the time value of money).

Cheers, Wayne

 

[rcrcr]

I have Rydell insisting on a 0.0011 MF when I know the MF most Bolt dealers are doing right now for top tier credit is 0.000721. According to my math, this MF markup largely negates the $1000 they are offering as a discount off of MSRP. (Which seems a little disingenuous, to put it politely.)

is anyone else having this experience, or have thoughts? Has anyone been able to get a 1.73% APR (0.000721 MF) from them? Any thoughts?

 

[bro19991]

I have Rydell insisting on a 0.0011 MF when I know the MF most Bolt dealers are doing right now for top tier credit is 0.000721. According to my math, this MF markup largely negates the $1000 they are offering as a discount off of MSRP. (Which seems a little disingenuous, to put it politely.)

is anyone else having this experience, or have thoughts? Has anyone been able to get a 1.73% APR (0.000721 MF) from them? Any thoughts?

Premier or LT?

 

[rcrcr]

@bro19991 My experience was in regards to a Premiere.

 

[bro19991]

@bro19991 My experience was in regards to a Premiere.

I wonder if somehow Premier VINs have higher interest than LTs? That's the case for VOLT leases.

Seems the Bolt has VIN exceptions to the standard GMF published lease interest rates.
Bizarre indeed.