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Anyone lease a 2019 Volt recently? With GM discontinuing the Volt, I imagine the residual value to be terrible. Anyone have a recent residual? With poor residual value, a lease may not be as good a deal as before.
 

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Are you saying that due to what you think will be a poor residual value, the downpayments and monthly payments will increase?

Dealers tend to do what they want on leases, but the advertised deals through GM seem to show you're onto something. They want $5000 down on a Volt lease and $269/month for 39 months, which is about $2000-$3000 more over the full lease term than I've seen on past national promotions.

I've always felt that with federal incentives to purchase new, even the prior lower lease rates made no sense. Even if the car does depreciates quickly, you're foregoing $7500-$12,000 in free money if you lease instead of buy. Yes, they incorporate some of the credit into the lease payment, but you're usually getting about 60 cents on the dollar there, and much less if in a state with big rebates.
 

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I always get a kick out people who hate leases. It's always a math equation for them without any consideration of convenience or other reasons for leasing. And I also laugh when people say someone would save more money buying than leasing, especially when what they're about to lease is the final year of a model with questionable success whose technology will likely be somewhat obsolete in a few years, thereby lowering the re-sale/trade-in value precipitously.

Anyone buying a 2019 Volt who doesn't intend to keep if for 10 years or more is making a mistake, IMHO. You should be leasing it.
 

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I always get a kick out people who hate leases. It's always a math equation for them without any consideration of convenience or other reasons for leasing. And I also laugh when people say someone would save more money buying than leasing, especially when what they're about to lease is the final year of a model with questionable success whose technology will likely be somewhat obsolete in a few years, thereby lowering the re-sale/trade-in value precipitously.

Anyone buying a 2019 Volt who doesn't intend to keep if for 10 years or more is making a mistake, IMHO. You should be leasing it.
100% agree

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I always get a kick out people who hate leases. It's always a math equation for them without any consideration of convenience or other reasons for leasing. And I also laugh when people say someone would save more money buying than leasing, especially when what they're about to lease is the final year of a model with questionable success whose technology will likely be somewhat obsolete in a few years, thereby lowering the re-sale/trade-in value precipitously.

Anyone buying a 2019 Volt who doesn't intend to keep if for 10 years or more is making a mistake, IMHO. You should be leasing it.
Glad to entertain.

I have no problem leasing if the lease is a good deal that I think would approximate or be better than what I would expect to pay for owning a car over a 3 year period. For example, if I can lease a $25K crossover for $2000 down, $199 a month, that's a decent deal, which I would consider at the right stage of life, if I felt there was a good chance that what I need in a car will change in 3 year, because I could see the car being worth somewhere in the neighborhood of $15,000 after 3 years and $36,000 miles. I will likely consider a lease deal somewhere around those terms when my wife replaces her lease this summer.

I don't like being sold a bill of goods. I don't like hype. I don't like negotiating on monthly payments rather than total cost. I don't like the dealers' ability to manipulate lease terms to make them appear a better deal than they are through a big down-payment, or ridiculous mileage limitations and overage charges. I have no interest in ponying up an extra $3000 to reduce my monthly payment by $50.

I also don't like leasing because the advertised deals tend to only be good for the base models, and getting anything mid- to upper-end options ends up doubling the overall cost of the lease, where it would only be an extra $2000 or so if I purchased.

All this before considering the Volt's uniqueness. The Volt is a different beast because of the availability of tax credits that are about a quarter of the purchase price of the car. Where I can buy a Volt for $21,000 or less after incentives, it doesn't make sense to me to pay $15,000 for the privilege to drive one for 3 years and then give it up and have no value at the end. In buying rather than leasing, my bet is that the car will be worth more than $6000 by the end of 3 years, or that the car will be trouble-free enough that I will want to keep driving it for 5-10 years. Everything about the current market for used Volts tells me that I am likely to win that bet, even if the car was recently discontinued. I've also had experiences where I felt I was steered to return to the same dealer for my next vehicle to avoid nickel and diming on usual wear and tear damages on a lease return, and I'd much rather preserve the opportunity to have different dealers and brands compete for my business.
 

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I've always looked at leasing as 'renting'

There are things prefer to rent. Anything I might have a limited use for - I'll rent a special tool rather than buying it because I may never need it again. I would even rent a house *if* knew for sure I would only be living there for a short time before my job sent me elsewhere, but never if I planned to stay put for 2 or 3 years or more

If it's something I plan to keep long term, I always prefer to buy. I take good care of my stuff and it lasts me longer than most people. I still have a 1994 Miata that bought nearly new (less than 10,000 miles) in 1999. I hate to think what the rental on that one would have cost me if I hadn't paid cash for it when I found it

I've paid cash for my last 5 or 6 cars. When you pay cash for what you drive, leasing makes even less sense than it otherwise might. I'm one who has never thought leasing makes sense unless you have a business you can write it off against. For a business, leasing makes lots of sense (to me) but for an individual, not so much

But, what works for me definitely will not be 'right' for everyone else - We're all different, have different needs and wants . . . . and that last one frequently makes all the difference

Don
 

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My goal in owning cars is to pay them off as quickly as possible and drive them as long as possible. If changing cars like underwear is your thing, go for it. 'Makes me laugh' ;)
 

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I've always looked at leasing as 'renting'

There are things prefer to rent. Anything I might have a limited use for - I'll rent a special tool rather than buying it because I may never need it again. I would even rent a house *if* knew for sure I would only be living there for a short time before my job sent me elsewhere, but never if I planned to stay put for 2 or 3 years or more

If it's something I plan to keep long term, I always prefer to buy. I take good care of my stuff and it lasts me longer than most people. I still have a 1994 Miata that bought nearly new (less than 10,000 miles) in 1999. I hate to think what the rental on that one would have cost me if I hadn't paid cash for it when I found it

I've paid cash for my last 5 or 6 cars. When you pay cash for what you drive, leasing makes even less sense than it otherwise might. I'm one who has never thought leasing makes sense unless you have a business you can write it off against. For a business, leasing makes lots of sense (to me) but for an individual, not so much

But, what works for me definitely will not be 'right' for everyone else - We're all different, have different needs and wants . . . . and that last one frequently makes all the difference

Don
Most people aren't as fortunate as you. Sounds a little pompous to talk about 'paying cash'. Most people can't do that. Have a nice day
 

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Most people aren't as fortunate as you. Sounds a little pompous to talk about 'paying cash'. Most people can't do that. Have a nice day
I don't think it is. I've paid as little as $100 for a car (my first) and as much as $18,000 (my last). Of the cars (and motorcycles) I've owned, I've only borrowed on two cars ('71 Javelin and '91 Integra). I've found it's always easier to borrow than pay it back. I've never leased a vehicle. I've earn as little as $1.25/hour (weld inspector at farm machinery manufacturer) and as much as $30/hour (working for myself). People can pay cash for what they drive if they don't live above their means.
 

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Most people aren't as fortunate as you. Sounds a little pompous to talk about 'paying cash'. Most people can't do that. Have a nice day
I paid cash for every car I owned from 1974-2001, but they were all older used cars. The most I ever paid was maybe $5k, and several under $1k. One, a 1966 Chrysler Newport, was 40 bucks, which I drove for 3 years or so.

Starting in 2001, with my Miata I got the new car bug, and have had only new cars, and all with loans. All the loans until our 2018 Volt, were three years and all paid off early.

Would I be better off financially had I continued to buy used cars for cash instead? Absolutely!

Can I afford to be buying new cars since 2001 and taking out loans? Also absolutely!

There's just other stuff I don't spend my money on instead. It's all about individual choices, and for some, a lease really is best even if not purely from a financial standpoint.

One can choose to spent part of their discretionary income on car loans, leases, golfing, motor boats, or whatever floats their boat.

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This post has become the lease vs buy debate again! Be nice people! For everyone, focus on what it costs per year to drive and,,,,IT ALWAYS COSTS to drive a year! No such thing as a free lunch! Typically it will cost more per year to lease than to buy, but not always.
Buy a 30k car drive it 10 years. Maybe what you sell it for after 10 years will equal what you paid for tires, batteries, brakes, and out of warranty repairs. Your cost per year..3k.
Lease for no money down and $250 per month ...3k per year would be exactly the same deal....except you would not have to take the time to have tires, batteries , and brakes replaced.
It's COST PER YEAR to buy.....usually cheaper to buy but not always.

Now as to the Volt....What will it be worth 2 to 5 years down the road (residual) ....It's a total guess and I expect leasing companies will err on the side of caution....low residuals. Much will depend on the price of gas! However, the Volt is a niche car with a cadre of loyal supporters who will continue to want to own and buy a car that is the leader in it's class. and no one has announced any plans to build anything that is noticeably better.
As for me I expect to pick up my 2019 Jan 2. It will be my 7th and I guess last Volt! What's worse is it will be the last time I get to soak the Feds for $7500!
 

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BTW Can anyone top 7 Volts? That's 7 x 7500 in Fed Taxes I have not paid! Plus I am so green! After I swap in my 2018 I will have helped 6 lucky people who could not get the full tax credit drive a low mileage nearly knew world class planet saver that they would not have been able to afford with out me!
 

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BTW Can anyone top 7 Volts? That's 7 x 7500 in Fed Taxes I have not paid! Plus I am so green! After I swap in my 2018 I will have helped 6 lucky people who could not get the full tax credit drive a low mileage nearly knew world class planet saver that they would not have been able to afford with out me!
I admire your passion. Well done Sir!! Only 2 Volts in my family.
 

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I always get a kick out people who hate leases. It's always a math equation for them without any consideration of convenience or other reasons for leasing. And I also laugh when people say someone would save more money buying than leasing, especially when what they're about to lease is the final year of a model with questionable success whose technology will likely be somewhat obsolete in a few years, thereby lowering the re-sale/trade-in value precipitously.

Anyone buying a 2019 Volt who doesn't intend to keep if for 10 years or more is making a mistake, IMHO. You should be leasing it.
You have quite a sense of humor. So many things make you laugh.

But I have to ask why the Volt's technology will be obsolete and what you question about its success (sales in the marketplace perhaps?). Getting 55 or 60 miles on a change when commuting will NEVER be obsolete IMHO.

There may be faster charging methods, cheaper more efficient batteries and cheaper EVs in the future. But for a commuting vehicle which can be used for occasional long trips on gas that can be charged on a home 110 or 240V circuit, I fail to see what will make the Volt obsolete.

It does exactly what I want it to do and I see no magic technology on the horizon (even from Tesla) that will do something important that it does not already do.
 

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Out with the old, in with the new. That's the mantra, these days. And that time period doesn't last very long at all. Think about the iPhone - it's barely 11 years old... do you know anyone with an iPhone 1-5? I sure don't.

The 2019 Volt is one Honda Clarity refresh away from being obsolete. The Volt only just got a power seat in its dying breath, but Chevy couldn't even do it right with memory settings. The Homelink mirror is finally back for the last gasp of the model year, but only if your dealer ordered it and installed it. Both features the Honda already has standard in its Touring trim.

Regardless of how you feel, the residuals and buyer-to-buyer sales numbers are going to be atrocious for an end-of-life car. The Volt will not be able to escape that, so leasing it seems the only protection at this point if you're not going to keep the car for 5 years or more.
 
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