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    View Poll Results: Chevy wants me to lease me a Bolt for $749 a month...too much or just right?

    Voters
    38. You may not vote on this poll
    • Just right, Uber. We know you have terrible credit.

      5 13.16%
    • Hell Nah, that's too much.

      22 57.89%
    • I know how you can lease the Bolt for $300-ish a month. PM me.

      2 5.26%
    • You're in Texas though, $740 is about right.

      2 5.26%
    • Why don't you put some money down, cheap a$$...

      0 0%
    • Uber Wagon is the worst tire kicker than Hawk. Salesmen beware!

      7 18.42%
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    Thread: Get yer popcorn ready TFL, Chevy wants me to lease me a Bolt for $749 a month...

    1. Member Uber Wagon's Avatar
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      03-14-2019 10:17 AM #1


      Sounds good right? Well, this is Texas. Get yer popcorn ready, son.


      Since GM is losing its $7,500 Federal tax credit, I thought I would try to get a Chevy Bolt base (with Drivers Assistance pkg II). Knowing that some dealers are discounting up to $7,000 off now, I figured I can easily afford $300 a month payment to DD a Bolt. So there will be no trade-in and I will be just leasing. I test drove a Bolt in town, loved how sprightly car felt and drove, and decided shop for the best lease deals in town.

      First dealer was about an hour away, and had $4,000 discount off MSRP:

      Hi Uber,

      Yes our Bolt Does have teh Drivers Confidence II package. As far as the lease goes the rebates in the email is for a purchase of the Bolt and the lease will provide other incentives I have worked up a lease for you on this Bolt and it comes out to $741 per month for 36 months and 30,000 miles with only first payment due at lease signing. This quote includes all taxes and registrations fees rolled in. If you wanted to put the TTL down at signing this will lower your payment as well.

      Bob Price
      General Manager
      Dear Mr. Wagon,

      Currently there is a lease special from GM for well-qualified buyers. $449 a month for 39 months with $4,239 down plus TT&L. This is a low mileage lease though-36K miles a year.
      Please let me know if you are interested. You may fill out your credit application here

      sincerely,
      Drake
      Since I have leased a BMW i3 before, I asked them if they could apply $7,500 that expired April 1 towards the money factor or cap cost reduction to reduce my payment, and they both replied that I had to obtain the Federal tax credit towards my income tax credit.

      So, while Chevy Bolt was compelling vehicle to drive, no one in Texas wants me to lease the Bolt for $750 a month. That's Mercedes Money, that's Chevy Corvette money, but not for Bolt.

      Am I so cheap and crazy? Or dealers just don't know anything about how to lease an EV? I'm interested to see why they have no idea how to lease these things. Maybe they are disappointed that I'm looking at a Bolt instead of a $60K Silverado.

      I know that car leases are terrible in Texas due to our insane tax laws, but come on. I can BUY a Model 3 for $750 a month. I currently have a quote of $675 a month to buy a brand new Audi A6 3.0T (with no money down). Having no enthusiasm towards selling a science project car is also evident in dealer's reactions too. I actually knew more about the Bolt than the salesman...during test drive, he told me that Bolt gets 500 miles range per charge. I should've left the dealership right then and there.

      Tell me TFL, is $300 a month lease with just first payment down too much to ask on a Chevy Bolt? Am I the crazy one? Or should I just bite the bullet and get the Audi?
      Last edited by Uber Wagon; 03-14-2019 at 10:21 AM.
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    3. Member someguy123's Avatar
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      03-14-2019 10:22 AM #2
      Should have gotten the Bolt earlier....

      You snooze, you lose.

    4. Member Uber Wagon's Avatar
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      03-14-2019 10:23 AM #3
      Quote Originally Posted by someguy123 View Post
      Should have gotten the Bolt earlier....
      Or move to California:

      Beer: The cause of, and solution to, all of life's problems.

    5. Member Unilateral Phase Detractor's Avatar
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      03-14-2019 10:35 AM #4
      Quote Originally Posted by Uber Wagon View Post
      Since I have leased a BMW i3 before, I asked them if they could apply $7,500 that expired April 1 towards the money factor or cap cost reduction to reduce my payment, and they both replied that I had to obtain the Federal tax credit towards my income tax credit.
      They're either sleezeballs or have no idea what they're doing with the credit. Or maybe both? The first one is particularly galling; We've got nearly 3 year old Bolts out in the market today and the residual is nowhere near as bad as $10k. They're holding value quite well.

    6. Member Nealric's Avatar
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      03-14-2019 11:03 AM #5
      They way Texas taxes leases means it kills all of the super cheap lease deals most of the rest of the country can take advantage of. I looked into a Leaf a few years ago and taxes more than doubled the total cost.

    7. Member Unilateral Phase Detractor's Avatar
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      03-14-2019 11:23 AM #6
      Quote Originally Posted by Nealric View Post
      They way Texas taxes leases means it kills all of the super cheap lease deals most of the rest of the country can take advantage of. I looked into a Leaf a few years ago and taxes more than doubled the total cost.
      So what you're saying is Texas messes with Taxes?

    8. Member 4.OMG's Avatar
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      03-14-2019 11:27 AM #7
      Quote Originally Posted by Uber Wagon View Post
      Since I have leased a BMW i3 before, I asked them if they could apply $7,500 that expired April 1 towards the money factor or cap cost reduction to reduce my payment, and they both replied that I had to obtain the Federal tax credit towards my income tax credit.
      The finance company that actually purchased the car gets the credit. The finance company can pass part of the benefit on to the lessee, but they're not required to.

      I was about to say there's got to be something wrong with the payment they quoted you, but then I looked at this:

      https://www.chevrolet.com/current-de...olt-ev:bolt-ev

      $741/month is still really high, but apparently these don't lease very well.
      Now this was a superior machine. Ten grand worth of gimmicks and high-priced special effects. The rear windows lit up with a touch like frogs in a dynamite pond. The dashboard was full of esoteric lights and dials and meters that I would never understand.

    9. Senior Member Sporin's Avatar
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      03-14-2019 11:31 AM #8

    10. Member Maximum_Download's Avatar
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      03-14-2019 11:32 AM #9
      You're doing this wrong.

      1. Look up the MF and Residuals for your lease term.
      2. Go to Leasehackr and plug them in.
      3. Price up your car in TrueCar, or better yet, Costco's car buying program and start getting quotes from area dealers.
      4. Plug that lowest quote into the Leasehackr calculator.
      5. MAKE THE DEALER VALIDATE YOUR NUMBERS, one step at a time, without revealing your monthly payment.
      6. Ask them what their payment is for those terms.
      7. Reveal your payment and send them the screen shot from LH showing the calculation, to the penny.

      At that point, it's a yes or no question on the dealer's part.
      Matt
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      03-14-2019 11:32 AM #10
      I asked this before and I don't think I got a response from you- why not lease or buy or an A5 SB or A4? Or another Bimmer? The A4s were leasing with decent terms and 20% off of MSRP last year

    12. Member Uber Wagon's Avatar
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      03-14-2019 12:15 PM #11
      Quote Originally Posted by Unilateral Phase Detractor View Post
      They're either sleezeballs or have no idea what they're doing with the credit. Or maybe both? The first one is particularly galling; We've got nearly 3 year old Bolts out in the market today and the residual is nowhere near as bad as $10k. They're holding value quite well.
      The salemen were all courteous actually. All of them did tell me that they do not sell a lot of Bolts (yes, this is Texas after all), and they admitted that I am the first one ever to ask about Federal Tax EVs. My guess is that they have gazillions of Tahoes in stock but only a handful of Bolt and Volts. At least they were honest about it.

      Quote Originally Posted by 4.OMG View Post
      The finance company that actually purchased the car gets the credit. The finance company can pass part of the benefit on to the lessee, but they're not required to.
      That's exactly right. BMW gave me $4,500 as a 'lease credit' (I know that's really the Federal tax EV credit) to me when I leased i3 Rex (PHEV, not BEV) in 2015. One of the stores that I got the $720 a month lease (a little better), actually told me that it's better to go with 0% for 72 months.

      So, F&I manager told me that $7,500 Federal Tax Credit is something that I apply for, and then get $7,500tax credit towards my income tax. I told him that BMW told me that I can either use that $7,500 tax credit now to bring down MF or towards Cap Cost Reduction, he looked at me with glassy eyes and said..."right".

      So they were doing everything they can to get me into a car. 'Nobody buys these in Texas' one of the salesman told me. I totally understand. But now I know what the biggest huddle for GM's electrification is. It's the lack of traininig.

      BMW has it right. And when all this is done, I'll probably end up leasing it for $500-ish with just first payment down.

      Too bad for Chevy because I really like the Bolt.

      Quote Originally Posted by JackStraw79 View Post
      I asked this before and I don't think I got a response from you- why not lease or buy or an A5 SB or A4? Or another Bimmer?
      I have a deal already worked up for both A6 and 530e. But I'm such a cheapo and wanted to see if I could stay under $400. Evidently that's impossible because the average car payment in US is about $550 a month now.

      The customers behind me were trading in a 2017 Mitsubishi Outlander for a brand new Chevy Equinox...and their payments were in $800 range...Their payments were already in high $500 in their Mitsubishi.

      In all seriousness though, I can't even fathom $700 a month payment, let alone $800 a month. #YOLO
      Last edited by Uber Wagon; 03-14-2019 at 12:26 PM.
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    13. I’ll never get laid because I’m a nerd ChillOutPossum's Avatar
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      03-14-2019 01:05 PM #12
      $700 to lease a base model economy car? Did you really need us to tell you how bad a deal that is?

    14. Senior Member bzcat's Avatar
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      03-14-2019 01:09 PM #13
      Obviously the Chevy dealers you talked to are run by morons. Or they have some sort of personal political agenda against selling EVs.

      GM will give you almost all of the $7,500 Federal tax credit in the form of rebates. Plus the dealers get trunk money to further reduce selling price. If you really want a Bolt, just keep calling Chevy dealers until you talk to one that wants the business.

      Edit: I think Texas is one of those idiotic states that rig the game in favor of car dealers so that partly explains your situation. I believe Texas requires sales tax to be paid upfront (?) but allows dealers to pass sales tax credits (but not required) to customers so in effect, the laws in Texas is rigged to favor dealers overwhelmingly in any transaction. Obviously, Chevy dealers would rather use their sales tax credit on a Suburban which I'm sure has much higher dealer profit than Bolt.
      Last edited by bzcat; 03-14-2019 at 01:13 PM.

    15. Member Form Ocean's Avatar
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      03-14-2019 01:23 PM #14
      They'll gladly sell you a Bolt Crew Cab Z71 at any monthly payment you want.

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      03-14-2019 01:35 PM #15
      Quote Originally Posted by Uber Wagon View Post
      I have a deal already worked up for both A6 and 530e. But I'm such a cheapo and wanted to see if I could stay under $400.
      Yeah I saw the other thread; I was asking specifically about considering those two products because:

      You were thinking about switching over to Audi
      You said you were happy with the 2.0T's performance when testing in the A6
      These cars have most recent tech available
      You are good with 4-door sedans or hatchbacks
      and you like leasing.

    17. Member Uber Wagon's Avatar
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      03-14-2019 01:45 PM #16
      Quote Originally Posted by ChillOutPossum View Post
      $700 to lease a base model economy car? Did you really need us to tell you how bad a deal that is?
      Simmer down now. I haven't bitten the lure just yet.

      Quote Originally Posted by bzcat View Post
      Obviously the Chevy dealers you talked to are run by morons. Or they have some sort of personal political agenda against selling EVs.
      You can't blame the salesman though, there's no demand, so there's no training. It's GM's fault ultimately.

      Quote Originally Posted by bzcat View Post
      GM will give you almost all of the $7,500 Federal tax credit in the form of rebates. Plus the dealers get trunk money to further reduce selling price. If you really want a Bolt, just keep calling Chevy dealers until you talk to one that wants the business.

      Edit: I think Texas is one of those idiotic states that rig the game in favor of car dealers so that partly explains your situation. I believe Texas requires sales tax to be paid upfront (?) but allows dealers to pass sales tax credits (but not required) to customers so in effect, the laws in Texas is rigged to favor dealers overwhelmingly in any transaction. Obviously, Chevy dealers would rather use their sales tax credit on a Suburban which I'm sure has much higher dealer profit than Bolt.
      BMW knew what they are doing. Tesla will take that $7,500 off the sticker right away, Meanwhile at GM:



      Quote Originally Posted by bzcat View Post
      Edit: I think Texas is one of those idiotic states that rig the game in favor of car dealers so that partly explains your situation. I believe Texas requires sales tax to be paid upfront (?) but allows dealers to pass sales tax credits (but not required) to customers so in effect, the laws in Texas is rigged to favor dealers overwhelmingly in any transaction. Obviously, Chevy dealers would rather use their sales tax credit on a Suburban which I'm sure has much higher dealer profit than Bolt.
      Texas requires sales tax to be up front at 6.25% on leases.

      Texas requires sales tax to be on the whole price of the car, not the depreciation portion on leases.

      Texas also requires additional taxes (like property tax) on leases depending on which county you reside in.

      Texas also makes sure that you pay sales tax again if you decide to buy the vehicle at the lease-end.

      So that's why it's so weird to lease a vehicle in Texas. I've been leasing for past 15 year or so...and it's no fun trying to dodge a tax bullet everytime.

      We have some great things about our state though, like good BBQ and friendly folks, and most importantly, no State income tax.
      Last edited by Uber Wagon; 03-14-2019 at 01:53 PM.
      Beer: The cause of, and solution to, all of life's problems.

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      03-14-2019 02:28 PM #17
      Quote Originally Posted by Uber Wagon View Post
      Evidently that's impossible because the average car payment in US is about $550 a month now.

      In all seriousness though, I can't even fathom $700 a month payment, let alone $800 a month. #YOLO
      Then why keep creating threads about cars you (really don't) want but can't fathom the payment?

      A 2019 Accord Sport with the 2.0T and 10sp AT leases for $329/mo, 36 months, 12K miles and $2150 down at my dealership. That's all you need.

    19. Member Uber Wagon's Avatar
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      03-14-2019 02:36 PM #18
      Quote Originally Posted by tbvvw View Post
      Then why keep creating threads about cars you (really don't) want but can't fathom the payment?
      I never said that I didn't like Bolt. Just not for $749 a month. I'd rather this for $749 a month.



      Quote Originally Posted by tbvvw View Post
      A 2019 Accord Sport with the 2.0T and 10sp AT leases for $329/mo, 36 months, 12K miles and $2150 down at my dealership. That's all you need.
      No electric, no care.
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    20. I need new ones NeverEnoughCars's Avatar
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      03-14-2019 02:45 PM #19
      Quote Originally Posted by ChillOutPossum View Post
      $700 to lease a base model economy car? Did you really need us to tell you how bad a deal that is?
      Have you seen the lease rates on the base model 3?
      Quote Originally Posted by Turbio! View Post
      Pedantry: winning arguments through exasperation since 1651. An Old World Tradition!
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    21. Member Uber Wagon's Avatar
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      03-14-2019 02:55 PM #20
      Quote Originally Posted by NeverEnoughCars View Post
      Have you seen the lease rates on the base model 3?
      Is there a lease program for Model 3 at all?
      Beer: The cause of, and solution to, all of life's problems.

    22. I need new ones NeverEnoughCars's Avatar
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      03-14-2019 03:07 PM #21
      Quote Originally Posted by Uber Wagon View Post
      Is there a lease program for Model 3 at all?
      I thought they were going to doing one but I just checked and it is only on the S and X. I am guessing if they did do a lease it would be in the $8-900 range.
      Quote Originally Posted by Turbio! View Post
      Pedantry: winning arguments through exasperation since 1651. An Old World Tradition!
      "Now i am become death the destroyer of worlds."-bhagavad gita
      “Only those who will risk going too far can possibly find out how far one can go.” -T.S. Eliot

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      03-14-2019 03:13 PM #22
      Quote Originally Posted by Uber Wagon View Post
      No electric, no care.
      Quote Originally Posted by Uber Wagon View Post
      I currently have a quote of $675 a month to buy a brand new Audi A6 3.0T (with no money down). Having no enthusiasm towards selling a science project car is also evident in dealer's reactions too. I actually knew more about the Bolt than the salesman...during test drive, he told me that Bolt gets 500 miles range per charge. I should've left the dealership right then and there.

      Tell me TFL, is $300 a month lease with just first payment down too much to ask on a Chevy Bolt? Am I the crazy one? Or should I just bite the bullet and get the Audi?
      Yes, you are the crazy one.

      ...unless i missed something and in the last 24 hrs all new A6 3.0T cars went electric.

    24. Member Mr Miyagi's Avatar
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      03-14-2019 03:13 PM #23
      k

    25. Member Uber Wagon's Avatar
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      03-14-2019 04:53 PM #24
      Quote Originally Posted by tbvvw View Post
      Yes, you are the crazy one.

      ...unless i missed something and in the last 24 hrs all new A6 3.0T cars went electric.
      Ya never know. 2019 A6 is a mild hybrid with a tubocharged (not supercharged) V6.

      Quote Originally Posted by NeverEnoughCars View Post
      I thought they were going to doing one but I just checked and it is only on the S and X. I am guessing if they did do a lease it would be in the $8-900 range.
      You'll like this. I got a crazy offer from a Cadillac Dealer on a 2017 CT6 PHEV. They thought they were giving me awesome deal. But they were not. Here's the details.



      MSRP
      $76,090
      Your Price
      $58,589

      My lease payment would've been $1,050 a month with $1,050 down. Still a very reasonable deal over $749 a month for a Chevy Bolt.

      And they too, weren't willing to fork over $7,500 tax incentive. No wonder GM discontinued this car for 2018. Their salesman have no idea how to sell EVs.

      Last edited by Uber Wagon; 03-14-2019 at 04:56 PM.
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    26. Member Mike!'s Avatar
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      03-14-2019 05:05 PM #25
      I don't know anything about how Texas taxes leases, but can't you just buy it for the advertised $33,295, and get the $7,500 fed credit? Seems to be a better deal than whatever mumbo-jumbo they're doing with the lease.

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