Sub $250 month lease - when will it happen?

[tedkidd]

I've always suspected this car would be HOT at under $250 a month (Chevy may have blown a huge opportunity for free promotion and building huge market goodwill by not offering this out of the gate - but they continue to prove shortsighted greedy instead of long term greedy). It seems the market agrees.

Here are some posts of what people are paying for these cars currently (ALL IN PER MONTH NET COST - INCLUDING INCENTIVES)

Bolt EV LT
DC Fast charge
Comfort & Convenience Pkg
Driver Confidence PKG
Floor mats
False cargo floor
$39,535 Sticker (Includes $875 destination charge)

Lease: 12K miles/ year $2,200 down (includes first payment, tax, title, dealer fees, etc) Payment = 35 X $250.87
Bob Johnson Chevy / Dave Towle salesman http://www.bobjohnsongm.com/

This was on June 5th, as the month of June progressed I now see local (upstate NY) dealers advertising Bolt LT for $209 & $219/month with $2000 down but only 10K miles / year and no DC fast charge option. The link below still shows last weeks lease price of $239, but the current add (6/24/17) shows $219.

NY state offers $2000 off of the Bolt that is applied to reduce the lease payments and requires NY state residency verification among several other restrictions.

http://www.vanbortelchevrolet.net/Lease-Specials

Got mine July 6th at Hooman Chevrolet in Culver City:

Bolt Premiere (DCFC, Infotainment package, Driver Confidence II)
MSRP: $43,510
Capitalized cost: $38,667
Rebates: $5000 (includes $500 competitive lease rebate)
Months: 36
Annual Mileage: 12,000
MF: .0008
Residual: 59%
Security Deposit: $0
Total Due At Signing: $0 (first month paid for by dealer)
Monthly Payment (incl. tax): $353

Quirk Chevrolet in Braintree, MA is offering these special lease deals on Bolts and Volts. Specifically:

Lease a Volt LT for $95 per month!
Lease a Volt Premier for $195 per month!
Lease a Bolt LT for $145 per month!
Lease a Bolt Premier for $245 per month!
These leases require a $2,500 down payment, but you will receive a $2,500 state rebate. And the lease payments are for cars without DC Fast Charging or the convenience package. The Volts come with the comfort package.

If you are interested in these great deals, please sign up for a test drive at Quirk Chevrolet on our web site. Mention this time-sensitive deal when the dealer reaches out to you to schedule your test drive.

There are lots of opportunities to take advantage of so don't miss out while they're still available! To learn more about our programs, visit our website or call us with questions at 617-524-3950 ext. 5.

Sincerely,
Our team here at Mass Energy

Re: 8,313 total spend over 3 years, I think you subtracted 2500 and 500 twice. So I think it's more like 11,313 total spend over 3 years?

$8,313 over 3 years is correct.
$11,313 is before the $3,000 in rebates.
Including the $395 disposition fee as well, total is $8,708 over three years = $242/month.

I did get multiple bids from three other dealers to get to this price and $0 down deal, but both Paul Duran at Capitol Chevy in San Jose and Tim Gelling at Greenwood Chevy in Hollister were close. Went with Greenwood because they had the Gray color and the False cargo floor option in stock.

Estimating I'll save another $30 to $60 a month with electricity vs premium gas compared to what my Audi costs to do the same commute. Will probably replace the Audi with another Bolt before the end of the year. After only 5 days with the vehicle I can't believe it is so inexpensive for how great it is.

What NET MONTHLY are others seeing out there?

 

[Anonymous]

My lease is $79

 

[tedkidd]

Wow.

Here's a cool link
http://massenergywebservices.com/drivegreen/table-quick.php?__hstc=160155362.ef12676717985ab7ce5379c2988a4cb1.1501082496719.1501082496719.1501082496719.1&__hssc=160155362.2.1501082496721&__hsfp=1206224270

Check out the "deals table"
http://massenergywebservices.com/drivegreen/table-all.php#bolt

 

[tedkidd]

Folks,

Thank you very much for posting your numbers ...they helped me immensely in negotiating my lease. I signed the following today:

Chevy Bolt LT
DCQC
Comfort + Convenience
Driver Safety 1
15K miles p.a
$0 down (incl tax, security, fees, lic, doc, other nonsense)
$284/mth w/tax

Done at Momentum Chevrolet, San Jose. --> ask for Peter Julius ...very smooth transaction and no pressure.

Optional: I got the lease wear & tear for $595 as I have seen enough number of dings and scratches on my Fit EV.

 

[tedkidd]

$150 month/$2100 first payment, hot seats, blind spot, trailer hitch, winter mats, CCS, 12k. (Hot seats & hitch my only "must haves". Hitch is why I'm pushing my T3 resi - plus I'd prefer 4wd)

Really happy, even ok with uncomfortable seats at this price. Truly awesome car.

Friend got premium car, not sure what extras besides CCS or miles, $200 month/$2300 out door.

 

[winterescape]

I assume you have seen this lease table?
http://ev-vin.blogspot.com/2016/07/current-lease-offers-for-selected-evs.html

looks like the current leader is @ 249/mo

http://www.hoseltonchevrolet.com/rochester-chevy-specials

 

[winterescape]

... (Chevy may have blown a huge opportunity for free promotion and building huge market goodwill by not offering this out of the gate - but they continue to prove shortsighted greedy instead of long term greedy).

I don't agree. GM offers nationally advertised prices, states offer incentives that change the calculus. GM derives more benefit from selling EVs in CARB states, that is just how it works. Currently at 3K units a month I also believe that they are production constrained and still selling the vehicle below cost by about $7K to build the market.

 

[tedkidd]

My friend in Ohio went and checked out the car at my encouragement.

They're lowest offer was just over $500 per month. Turned him cold on the car. In his mind he was comparing the car to a BMW at that price and it was coming up majorly wanting.

This math isn't hard.

I'm paying what calculates to $209, and the significant difference is NY's $2000 rebate. At this price I don't think anything can compete. The car is all kinds of amazing, even with the uncomfortable front seats. It is a really great car for the price.

People understand state rebates, but expect some correlation. $2000 extra rebate and $10,800 ($300 x 36) higher cost are completely different planets, not correlated at all in his or my minds.

 

[winterescape]

I oversimplified, it is not just the state rebate, it is the value of a 2017 ZEV to GM in NY VS Ohio

"...."travel provision" in the ZEV rules through 2018 that essentially allows carmakers to earn ZEV credits in every state for a zero-emission vehicle that's sold in any ZEV-Program state.

https://www.greencarreports.com/news/1109217_which-states-follow-californias-emission-and-zero-emission-vehicle-rules

 

[d2170]

I don't know if this is real or BS, here:

https://u5080173.ct.sendgrid.net/wf/click?upn=vh9lyFdXNdtD4GLMrKHUISdUKfiBuXu155yz5RLPvD7nadm09wCK9fxLC7td96HiV-2Fw2KGlGgQvN9Uzv5ShmYa96nivJPxJjSi0gzSUtLO2zYNmzORyIJQbFFWXMZ-2FhRTgla-2BusfmXsWV8QOTvgV2w-3D-3D_5y5pmInufAifPLpoH5jJo0nTtbeJ2Qmz51-2FR9qwMgScvs1IFv-2Frf5EK-2FctK1pF-2B6SeJalSPPRt1SRmlJ6WRnFwo3ho3mgFDrp39VGfG3NQ9V30L0pUjzOMWDAMlLUUEWQ1XRBQLjCcwe9P5KZacjykh-2BoOcTWsaZOe65Ufy01U9Ytx7waekNN6jfnU4hsjEBbgzUot3F0RHm26qooIuZHL2hrHhMG7rni9OXz7Cfa8ybGdJAtDs8FNcKCqPZF7tt9UOva9t7KO7BQnirsh4geqc6EQ0O0-2Ff1MoRkpkBuyohG3aSqdszEKT48mFiHA6JQjMfStT6X7NkRgxbtw9wGGbZr-2FZP15Ef-2BF5cn-2FvCn7ktQcyJoId2A5xKxMNrh53ilk4LdsX3JQLHfO10HZ2DNCQ-3D-3D

that is $5500 total. (2000 + 100 x 35) before CA rebates

in San Jose's Capital Chevy in CA.

 

[Bacardi]

The mechanics of leasing aren't rocket science yet if one can only comprehend "but GM isn't giving up the full $7500 off" and not "$0 out of pocket, 35 months of sub $250 is a great deal!" no one will want to help them get a deal...

Like most automakers, lease offers and GM Factory incentives change month to month (usually first Monday of month-first Sunday of the month)...

To get these great leases you need the following...
1. Favorable lease month, high residuals and low MF...
2. Favorable GM factory incentives (NOT state/local/tax incentives), last month GM offered $2500 lease conquest then you usually need stack another $1000 off incentive into the deal...
3. HUGE dealership discount off of the SALES price...This means before any incentives...

I am NOT a Bolt lease deal compiler, yet on the "lease hack" websites I have ONLY seen a half dozen dealerships all in California offering these low lease deals/huge dealerships discounts, so of Chevy's roughly 3K dealerships that means 99.99% will not get this deal...

Disclaimer, you are welcome to give it your best shot to point out your perceived high moral compass by shaming the following statement...GM knows about the incentive hacks and has never closed these loopholes...If you do not qualify for the GM Factory incentives, it's entirely up to your perceived morals if you want to try and "hack" to gain incentive Authorization Codes...I'll give you a hint, certain Corporate departments give out manually generated Supplier Discount Authorization codes like candy to anyone who complains about their negative GM experience...There are loopholes to qualify for most incentives since GM allows most incentives...

Max deals have already been reported $0 out of pocket with punts the first month payment into the remaining 35 months of the 36 month lease to below $199/mo to the leasing lending GM Financial and once state/local/tax incentives are factored in a sub-$100/mo EFFECTIVE payment...

 

[paulgipe]

We leased in November 2017. 0$ down, $250/mo. Total 3-year lease cost $9,000. 10,000 miles. We live in the San Joaquin Valley, the most polluted valley in the USA. Total subsidies here are $6,000. Net cost $3,000 or $84/mo. Another couple got the same deal we negotiated. So it wasn't a one-off deal for the dealer.

We had some early issues with the car but it is working fine now. See my posts elsewhere.

Paul

 

[PackardV8]

Yet more evidence life isn't fair. Many of the lease deals reported above are less than half what both the GM website and our local dealer quoted us here in eastern WA. We'd certainly leased instead of bought if $200 a month had been available. At $450 a month net, not so much.

jack vines

 

[Bacardi]

our local dealer

This is the problem, one dealer = one price...You can do all your negotiation over email and take an one way flight or even a bus...