[Guest]

Today I looked into the purchase of a used 2017 LT with 850 miles on the clock. It was purchased late December of 2017 and then traded in for an SUV. The car is in brand new condition, only negative is 6 months has been burned off the warranty. I think the option list includes heated seats / steering wheel, backup camera, traction control, and the upgrade to the radio. I'm not familiar with the stock / options and I didn't have time to check so I'm taking them at their word.

The asking price was high given it would no longer qualify for the tax incentives. I priced out comparable new 2018 models and they start at $34K. Subtracting $12.5K worth of incentives brings the price for a new 2018 down to $21.5. Since I'd still have to pay sales tax on that $12.5K I'd have to add back another $1K raising the adjusted price to $22.5K.

When it came time to discuss a price I used the above as the basis for my offer. In the end the dealer agreed to accept $22.5K. Basically a wash financially but from a convenience, i.e. I don't have to wait to get the tax incentive, I felt that was acceptable. I'd eat the 6 month warranty.

My GF and I went to lunch while they prepared the paperwork. I dropped her off at home and returned to the dealer. As I was pulling in we got hit by a hail storm. Unfortunately there was no covered area to park the car. I went in and the salesperson told me finance was ready and we could close the deal. To which I said "not until the hail storm passes and I have an opportunity to inspect the car for damage". He understood and I waited for approximately 30 minutes for the hail storm to pass. After it has passed we inspected the car and all looked OK. However I was uncomfortable buying until there was sun light so I could thoroughly inspect the car. So we agreed to meet tomorrow to look it over and I could sign the paperwork.

That leads me to this very moment where I am sitting at home wondering if $22.5K is decent given it's the same as I would pay for a brand new 2018 model. The negatives to buying the 2017: It's a year older and has 6 months of warranty already used. Negatives to the 2018: I'd have to wait over 6 months to recover the $12.5K and deal with the hassle that typically comes with dealing with the government.

I'd like to hear people's opinion on this. From what I've read in the past most of the responses tend to lean towards the new vehicle.

 

[VoltAP1]

Sounds like a wash financially, although I'd caution that 2018's are going well below MSRP. Sounds like that car is an LT with an MSRP roughly in the $35-36k range (that'd be comfort pkg - heated seats, steering wheel, mirrors, and possibly the leather seating package).

Also, on a 2018 LT, you can get a Driver's Confidence package, which is the same as the DC I available on the Premiers. Pretty sure 2017s didn't have that available on the LT. Key features are rear park assist (park distance sensors), blind spot monitoring, and rear cross traffic alert when backing up. These are all really useful safety features IMO, and I wouldn't have gone with the 2018 LT if I couldn't get them.

So while the deal sounds financially a loss, it sounds like it'd be lacking the DC pkg that you get on a lot of the "somewhat optioned" 2018 LTs.

Around here you can get a driver comfort, leather, driver confidence pkg LT for ~$32k, from a ~$36.2k + color option MSRP. Add in CO significant state incentives on top of the fed incentive... I still think you might be overpaying a bit for the 2017.


Just my 2 cents.

 

[dannycamps]

Just remember that you have to qualify for all federal and state incentives. They are not a guarantee. Also, the most the federal incentive can do is zero out your tax liability so if you own less than $7500 in federal taxes, you will not get the full benefit of the federal incentive.

As for everything else, it sounds pretty close to a wash. 850 miles is basically brand new and it sounds like you have some options (e.g. Bose radio, heated leather seats, etc...).

 

[Eagleco]

Generally a slightly used Volt like this is most ideal for someone who won't qualify for much of the $7500 tax credit on a new one.

It's correct that you will miss out on the Driver Confidence Package 1, since that was not available on the LT until the 2018 MY. We have a Premier with DC 1 and DC 2(only available on the Premier), and by far I find the DC 1 items the most useful. I could easily be happy with just that package, and would not want to do without it.



Jon

 

[BillG]

You don't have to wait on the FIT credit. Just reduce your withholding now to account for the lower tax liability at year end.

 

[Guest]

Thank you all for the advice. As an FYI I do qualify for all of the federal and state incentives. I understand they're not credits and I've run through the numbers using last years income to verify. I might call the dealer on a new one just to see what they're able to do. Maybe I can get theirs for even less.

 

[firehawk72]

You got a fine deal. No worries. Enjoy your ride.

 

[snic]

Can you ask the dealer to throw in 6 months of extra warranty? GM keeps sending me ads for extended warranty. I think the actual warranty is through a different company, but they partner with GM so if you go to the dealer for warranty service they see that it's covered. I'm sure the dealer could get you 6 months of that and eat the cost, which to them should be negligible.

 

[obermd]

You'll end up paying the sales tax on the full price of the car. The $7500 Federal Credit won't apply until you file in February and the $5,000 Colorado credit doesn't reduce the sales tax on the car. In fact, depending on how you're financing you may be better off not having the dealership apply for the Colorado credit as they'll take a $250 "processing fee" if they apply for this credit for you.

My 2017 Volt LT cost me over $700 last June for the initial registration. It's going to cost me a little over $500 next month for the renewal. I'm in Douglas County.

 

[Guest]

I would run a TrueCar search for Volts in your Zip and a few surrounding Zips. You will get inundated with phone calls and emails for a few days but getting a true idea of the market is worth it. I'm in PA and the discounts here were almost nothing, even on 2017 models. Went across the border to NJ and got 9K off, and found places in MD offering $7K off on Truecar.

That said, the market in CO might be so hot with the state rebate that dealers do not have to discount. Still worth a look.

 

[VoltenRock]

It's not a terrible deal--but I think you could do better. I would shop around a bit unless there is something else about the car in features, color, etc., that you really, really like. You're losing 6 months of warranty AND it's still a used car. I agree with VoltAP1 that most 18s are going below MSRP so you could actually get a brand new '18 cheaper.

 

[Navanian]

Dont know if it is best to start a new discussion or ask here.

I am also considering a 2017 Volt. Can I get some items for a Used Gen2 Volt Checklist? Any components/area I should check on Volts that have been exposed to salt winters. Looking to buy in Michigan.

Advice is truly appreciated.

1. Make sure Charge Cord is present.
2. Two sets of keys
3. Tire repair kit (good and pump)
4. Ask Chevy dealer for repair history
5. Dont buy a volt without testing on a charged battery
6. Use hold mode to test ICE.
5. ????