As others have pointed out, you keep the car, no monthly payment because it's been paid up front. Your only cost is the 20 cents a mile. No sales tax, title work, etc. You indicate driving about 1,500 miles a month. So look at it as a $300 a month payment on your existing car, and then compare what the costs would be to switch to a newer car.
Early return costs?
I currently have a 36k mile/3 year lease that is fully paid for upfront. At the rate I'm going, I'm going to hit my 36k mile limit in 2 years. A quick Google search seems to indicate that there will be early termination fees/costs if I return my car early.
Question is - does this only apply to monthly payment type of leases? I'm not sure if early return fees would apply to my situation; surely dealers would make more money selling a 2 year old car with 36k miles on it as opposed to a 3 year old car with 36k miles a year in the future? Anyone has any knowledge on this? I don't expect to get any of my prepaid amounts back of course, just wondering if I have to hand over extra fees in addition to what I've already paid (plus the regular disposition fee).
Reason for wanting to turn the car in upon reaching mileage cap: ongoing insurance costs even if I don't drive it.
And before anyone starts on the upfront payment being a bad idea... that's a discussion for another time.
Question is - does this only apply to monthly payment type of leases? I'm not sure if early return fees would apply to my situation; surely dealers would make more money selling a 2 year old car with 36k miles on it as opposed to a 3 year old car with 36k miles a year in the future? Anyone has any knowledge on this? I don't expect to get any of my prepaid amounts back of course, just wondering if I have to hand over extra fees in addition to what I've already paid (plus the regular disposition fee).
Reason for wanting to turn the car in upon reaching mileage cap: ongoing insurance costs even if I don't drive it.
And before anyone starts on the upfront payment being a bad idea... that's a discussion for another time.
1 - 1 of 11 Posts
1 - 1 of 11 Posts
- This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
GM Volt Forum
A forum community dedicated to Chevy Volt electric car owners and enthusiasts. Come join the discussion about hybrid performance, modifications, classifieds, troubleshooting, maintenance, reviews, and more!
Full Forum Listing
Recommended Communities
