[gorbster]

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?

 

[gorbster]

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?

 

[mjones21]

I'd take a look at a Gen2 and do some pricing inquiries at local dealers on 2018s. Seems many dealers are heavily discounting them as the refreshed 2019 comes out. I saw advertised purchase prices of $27K for a base model when I was searching a few months ago, and you could likely find lower now that the 19 is scheduled to arrive shortly. With 9K off, you're only looking at a $2-3K difference versus the buyout on your Gen1. For a little extra, I think the extra ~15 miles, new bumper to bumper warranty, and a full 8 years and 100K of Voltec warranty could make it worth your while. But its all up to you.

 

[looking4acar]

I just turned in my gen2 volt the buy out was 18k. I decided no it was not worth 18k if they went down to 15k ok.. but I chose a spark ev instead for 10.5 with 10k miles. dont think it gets any better than that except the 8.1k one with more miles.