Bolt - to lease or buy

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WilliamJones

Member
I have never leased a car in the 50 years I have been driving, but would like to consider it for my Bolt purchase (or lease). What is the best way to do this? Can I just go to my local Chevy dealer or is there a better way?
 
WilliamJones said:
I have never leased a car in the 50 years I have been driving, but would like to consider it for my Bolt purchase (or lease). What is the best way to do this? Can I just go to my local Chevy dealer or is there a better way?
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Or, as it's sometimes referred to, fleasing :D , since any add-ons have to be taken off at the end of the lease. And, if you go over mileage limits, it can get real expensive.

But, I would think, much depends on your financial situation, and desires.

Now, in my 45 years of legally driving (legally being the operative word :rolleyes: ), I've leased once (2018 Toyota C-HR). I had planned on turning the car in, and relocate to country of Panama. But, thanks to COVID, that plan was shot all to hell. So, I ended up purchasing it outright.

Leasing is great, if you want to drive a new car every 2 or 3 years. And, if you want a new car, going to the dealership would probably be your best bet, as these other companies are 3rd party, and there could be extra fees involved that would make your payments higher.

But, if you plan on keeping the car for a longer period or time, or know you drive a lot miles, buying is the only way to go.
 
I have always bought my cars instead of leasing because I have heard the saying many times, "Lease = Fleece". The more I think about it, the more I think I will purchase the Bolt.
 
WilliamJones said:
I have always bought my cars instead of leasing because I have heard the saying many times, "Lease = Fleece". The more I think about it, the more I think I will purchase the Bolt.
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I knew I was spelling Fleecing wrong!

But, the darn voice recognition kept reading police. :rolleyes:
 
The leasing/buying decision really depends on how many miles you'll think you'll drive. I decided to lease because in 3 years I'm banking on the EV technology to be vastly improved and better competition in offerings. I went through Cartelligent and the lease differences were huge compared to the dealership. Dealership wanted $3500 down with a $350 payment each month. I was able to lease the car through cartelligent with $3000 down and $210 payments each month. They applied all the incentives and rebates to make the lease amount super affordable.
 
If you must have an EV now then a lease could be the way to go if you find a good deal. The Bolt is not very advanced in most ways so in a couple years there will be more choices on the market you can upscale to. I would assume the stop sale will continue for some months yet though.
 
I get bored with cars very easily, so leasing makes sense to me. My yearly driving needs are less than 10K miles per year. I sold my previous lease to Carvana for a $2,500 profit. My out of pocket at the Chevrolet dealership was $1,000, and my monthly is $299. There should be way more options for me to choose from at the end of my 3 year lease. You have to do what makes sense for your situation.
 
SundayDriver47 said:
The leasing/buying decision really depends on how many miles you'll think you'll drive. I decided to lease because in 3 years I'm banking on the EV technology to be vastly improved and better competition in offerings. I went through Cartelligent and the lease differences were huge compared to the dealership. Dealership wanted $3500 down with a $350 payment each month. I was able to lease the car through cartelligent with $3000 down and $210 payments each month. They applied all the incentives and rebates to make the lease amount super affordable.
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Leased a Nissan truck many years ago. Swore to never do thst again. That siad I am picking ip a leased 2022 Bolt this week. My reasoning is that technology is going to change dramatically over the next few years. Used the equity in my Volt to buy down the leas so 0 down and a few bucks more than my current payment on my Volt. At the end of the lease or before, I can buy it out or more likely take advantage of a future program to move to an Ultium vehicle
 
The pace of improvement in EV products is still accelerating. In two years, there will be a better car for less money.

The only admonitions I offer to lessors: don't put money down (roll it into the lease payments) and make certain your insurance covers the "gap" between what you have remaining in payments and residual value.

The rationale for mininal down payment us that if the vehicle is totalled, you won't be reimbursed.

Note that your lease payment is determined by the selling price less the residual value at the end of the term. Inflated selling prices are no less a worry in leasing.

https://www.kbb.com/car-advice/car-leasing-guide/
 
Jim Matthews said:
The pace of improvement in EV products is still accelerating. In two years, there will be a better car for less money.

The only admonitions I offer to lessors: don't put money down (roll it into the lease payments) and make certain your insurance covers the "gap" between what you have remaining in payments and residual value.

The rationale for mininal down payment us that if the vehicle is totalled, you won't be reimbursed.

Note that your lease payment is determined by the selling price less the residual value at the end of the term. Inflated selling prices are no less a worry in leasing.

https://www.kbb.com/car-advice/car-leasing-guide/
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I rolled my equity in my Volt into the lease. 0 down a decent monthly payment. We shall know if it was the right decision in three years!
 
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