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2017 Chevrolet Bolt - One Bolt for another

I don’t really have a problem, but a unique situation. I pre-paid (one pay) a three year lease on a 2017 BOLT EV. My lease ends six months from now, but I’m out of miles.

I am going to buy a used Bolt. If I buy from a local dealer, does having this nice clean lease to turn in do anything for me ??

I can just buy a used car and leave the Bolt in my driveway or take it to the dealership. Do I have any leverage with the dealerships? Do they want my car? Do they have any incentive to get me to turn it in now rather than wait six months??

You already have a used Bolt in your driveway that you know the history of . So why would you even think about another one . Also you are asking questions here that you should be asking the lease holder .

4 Likes

I can only speak from personal experience. In the case of the leased vehicles I turned in and bought out, the dealerships (Honda and Mazda) were not at all interested in any details. They do not value your coming-off-lease vehicle in the least. This despite the BS they tell tell you in promotions to get you to turn your vehicle over (“We need your exact make and model because it is in high demand!!!”) Dealers would sell cars by the pound if they could. They make money on every transaction they conduct either directly or indirectly. When I bought out the lease on my Mazda the Dealer in Mass. was about as unhelpful as I could imagine them being. I was treated as if they were doing me a big favor. By contrast, when we recently bought a Mazda new they bent over backwards to help us in every imaginable way. This is one reason I personally stopped leasing. Let us know how your experience goes. Here in Mass, Dealers have been offering five-digit discounts on new Bolts and the “cost” to the new owner after incentives end up around $22K. Don’t take my word for it. Go to the Mass Drivegreen website for a list of deals offered. I have verified the Drivegreen deals in the past for stories.

Read the lease.

Is it an open or closed end lease?

Open means you have the option to purchase the vehicle.

Closed means you don’t have the option.

Tester

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The residual on my lease is about 2K more than I can purchase it elsewhere.

Pl

And it will surely cost more than $2k to purchase and insure this other used Bolt while also paying the lease payment and insurance for the one you won’t be driving. I can’t imagine that the over-mileage fees would be higher than this for a 6-month timeframe, but regardless if you end up purchasing the vehicle, you won’t have to pay the over-mileage or excess wear fees. My advice, if you like this model, is to just keep driving the one you have, and purchase it at the end of the lease.

You are concentrating on the wrong thing. You know how the vehicle was maintained . You may have less miles that anything you look at . If you keep it another 5 years that is only about 35.00 a month for a known vehicle rather then one that might be back on the market because it had problems .

3 Likes

Find out the buyout price from GM. Even if you have to pay 2k more isn’t it worth it for a car you know?

He paid the entire 3 year lease up front, he has no payments.

Contact the dealer you leased it from. Tell them you can buy an equivalent vehicle for $2000 less and offer to buy the one you have now for that price. If they say no, buy the other one. You can buy it now if you like.