GM Volt Forum banner

1 - 14 of 14 Posts

·
Registered
Joined
·
5 Posts
Discussion Starter #1 (Edited)
Crazy Spark EV prices, am i missing something?

The spark EV seems to be on an insane sale right now Between cash back offers, and other possible incentives, if you count the 7500 rebate ( i don’t live in MD) it seems like we are talking about less than 12k. Am i reading that right?

Heres my question, I fully intend to buy a Chevy Bolt, no doubt about it. However I recently totaled my Volt and am completely out of a car. Im guessing it will be difficult to get a Bolt day one, and it make take a couple months, so I’m guessing into March at earliest, or hold out for some sort of sales window. With all those sales and needing a car, would just buying a Spark EV make sense and have it to trade in next year? If i say i can walk away breaking even next year than it was worth it. My main hesitation, is I’m guessing the reason the Spark is being marked down so heavily is that once the Bolt is up and running the Spark EV will be discountinued, and i wonder if that makes trading it in next year much more difficult value wise.

Anyway, love to hear your expert opinions!
 

·
Registered
Joined
·
13,556 Posts
Any time you buy a new car and trade in. Year later, you will almost never break even with the rare exception of the screaming deal of the decade.

Any time you buy a new car, just released, where demand outpaces supply, you're asking to pay MSRP or more, also not a good idea. Find a 2016 volt now that is heavily discounted and don't buy a bolt until the end of 2018, and you will find screaming deals. But if you must be on the cutting edge of tech, you will pay. Just look at all the volt fans who bought during year 1 and paid nearly full price. Then look at the second rounders who bought volts after the great August 2013 price cut.
 

·
Administrator
Joined
·
19,969 Posts
Just look at all the volt fans who bought during year 1 and paid nearly full price.
Hey, I resemble that remark! :) But I have no regrets and will likely do the same with the Bolt EV.

What about a used Volt instead of a new Spark? The Volt has already taken the big depreciation hit and won't suffer much more before the OP can order a Bolt. 2-3 year old used Volts are a bargain.

Also, please don't double post Dj-Rockadoo
 

·
Registered
Joined
·
5 Posts
Discussion Starter #4
Yeah I had a 2013 Volt, bought right when the drop hit! It got totaled the other day, by a texting teenager t-boning me, so I'm pretty upset about it... But figured, making lemons into lemonade here, have fun with something else while holding out for the Bolt. So could just get a used Volt, painful how much they've come down, was entertaining a short lease swap on an i3. but then i saw the math on these 7k+ price reductions on the Spark and wondering if there was something to the idea.
 

·
Registered
Joined
·
5 Posts
Discussion Starter #5
Yes i understand the age old adage to car buying, I'm suggesting that possibly what you're saying is the rare exception is in fact happening right now.
 

·
Registered
Joined
·
13,556 Posts
Hey, I resemble that remark! :) But I have no regrets and will likely do the same with the Bolt EV.

What about a used Volt instead of a new Spark? The Volt has already taken the big depreciation hit and won't suffer much more before the OP can order a Bolt. 2-3 year old used Volts are a bargain.

Also, please don't double post Dj-Rockadoo
I also have no regrets paying less than half price for my new Volt. Two for the price of one always wins out. Big depreciation hit already taken by GM and the dealership (with help from state and fed government). If only Tesla had traditional dealerships and didn't command full price with pretty much no wiggle room....

Back to the new Spark discussion. My daughter and I test drove a Spark (the one that sips dino juice) and despite the Harry Potter like feeling where the car was tiny on the outside, but felt roomy on the inside, it takes a special person to want such a tiny car. Lack of demand and the real limited sales regions makes a Spark EV either a collectors item, or something you'll really have trouble unloading when DJ Rockadoo wants the Bolt. What about just buying an ELR and keeping it? It's an upgrade from the Volt and looks a whole lot better than anything else on the road. The only thing that causes me pause is the price.
 

·
Registered
Joined
·
5 Posts
Discussion Starter #7
Yeah, having a chance to sleep on it, I agree, even with the really low price, doesn't make much sense. I think I'm more upset about losing my Volt than I realized and just scraping at any idea that keeps me in good company until Bolt is readily available.
 

·
Banned
Joined
·
7,289 Posts
Yeah, having a chance to sleep on it, I agree, even with the really low price, doesn't make much sense. I think I'm more upset about losing my Volt than I realized and just scraping at any idea that keeps me in good company until Bolt is readily available.
Are you really in Va? If so, you can't even buy a new Spark EV...only CA/OR/MD residents can buy/lease new.

As for the resale value of a Spark EV in ~6-9 months, I really don't see it going down any more than any other car...especially if someone got a killer deal on a new one right now. There are more people than you think that don't qualify for the full fed tax credit that would be interested in buying a lightly used Spark EV.

I know of a circuitous way to get you in a basically new Spark EV for cheap, but it would involve jumping through a couple of hoops. ;)
 

·
Registered
Joined
·
13,556 Posts
Yeah, having a chance to sleep on it, I agree, even with the really low price, doesn't make much sense. I think I'm more upset about losing my Volt than I realized and just scraping at any idea that keeps me in good company until Bolt is readily available.
Just relish in the fact that you aren't waiting for a tesla model 3. That's going to be a long, long wait.
 

·
Registered
Joined
·
435 Posts
To OP I suggest get the Spark EV, if you can find one in your area. I leased a 2013 Volt, loved it , 99% of the time, hated it when the ICE came on, changed the character of the car big time. Driving a Spark EV currently, what an awesome little car. I never go over 95 miles/day and always have left over range after a day at work. If you can find one, and at a good price, go for it. It'll tide you over nicely until the Bolt arrives. I leased my Spark EV for a ridiculously low price, thinking about buying it out at lease end and get the Bolt for family use. Someone upthread mentioned Tesla Model 3, I doubt that any Tesla is as reliable as either the Volt or Bolt, or Spark EV. They do look very nice, though.
 

·
Registered
Joined
·
6,464 Posts
The only way I would consider doing what the OP is discussing is if I purchased a used Spark EV for cash. That way, I could save on my day-to-day fueling expenses and not have to eat so much depreciation when I used it as a trade in.
 

·
Registered
Joined
·
249 Posts
Agree with Ladogaboy. I could see getting a used Volt/Leaf/Spark EV as a stopgap just because the trade-in losses later shouldn't be too high and you'd continue to be able to enjoy some level of EV driving in the meantime.

Even with the incredible deals in the CARB states, I can't see getting a new version of any of these and trading within a year or so for a Bolt. It just doesn't make financial sense with the depreciation hit you'd take.

I'm interested in the Bolt too, but if my 2014 were to get totaled tomorrow I'd likely delay gratification and end up in a 2013 Volt for a couple of years.
 

·
Registered
Joined
·
1,489 Posts
Even with the incredible deals in the CARB states, I can't see getting a new version of any of these and trading within a year or so for a Bolt. It just doesn't make financial sense with the depreciation hit you'd take.
Yeah... I'm getting very antsy waiting for the Bolt to arrive after having waited what seemed like forever for the Gen 2 Volt only to be put off by the awful back seat and rear visibility. I test drove a very low mileage Smart Electric at a good price but the car really didn't wow me and I was loathe to pay the sales tax and take an inevitable depreciation hit just for a relatively short period. So I'm back to waiting, (sigh)...
 
1 - 14 of 14 Posts
Top