Hi all,
I've got about a month left on the lease with GMF for my premium 2015, and trying to decide what to do next. Definitely wish to continue driving a Volt. According to the inspection, it needs about $900 worth of work on the outside (from the early days of getting used to this thing's girth while parking in small spaces). Inside is flawless. 18k miles. Optimizing for cost. Residual is $17.4k. Don't want to lease again. Can get about $9k in EV rebates on new purchase.
1. Purchase at lease end: $17.4k
2. Turn / trade-in, and finance new 2018 Premier (assumes $500 damage waiver with GMF, and rebates): ~$24.4k
3. Turn in, buy used 2016 or 2017 in similar / better condition (according to KBB): ~$22k - ~$25.9k
Based on my calculations, the cheapest and most practical thing to do is to purchase at lease end. I can't justify the $5k+ premium to move into a gen 2, as much as I hate gen 1's buggy Infotainment unit.
Am I missing something with my numbers? I haven't talked with any dealers, so maybe there's a way to close the premium gap more?
I've got about a month left on the lease with GMF for my premium 2015, and trying to decide what to do next. Definitely wish to continue driving a Volt. According to the inspection, it needs about $900 worth of work on the outside (from the early days of getting used to this thing's girth while parking in small spaces). Inside is flawless. 18k miles. Optimizing for cost. Residual is $17.4k. Don't want to lease again. Can get about $9k in EV rebates on new purchase.
1. Purchase at lease end: $17.4k
2. Turn / trade-in, and finance new 2018 Premier (assumes $500 damage waiver with GMF, and rebates): ~$24.4k
3. Turn in, buy used 2016 or 2017 in similar / better condition (according to KBB): ~$22k - ~$25.9k
Based on my calculations, the cheapest and most practical thing to do is to purchase at lease end. I can't justify the $5k+ premium to move into a gen 2, as much as I hate gen 1's buggy Infotainment unit.
Am I missing something with my numbers? I haven't talked with any dealers, so maybe there's a way to close the premium gap more?