Lease A Chevrolet Bolt For Just $309 Per Month, Nothing Down In California
The good fellows over at LeaseHacker have come across GM Financial supported lease program (which was released yesterday) for the 2017 Chevrolet Bolt EV, which starts to arrive next week in California and Oregon.
Naturally, the monthly lease cost of the Bolt EV is the MSRP set by the manufacturer, adjusted by the selling price actually negotiated by the dealer, then payments based from the GM financial department’s calculated residual values.
Via LeaseHackr, here is GM Financial’s numbers:
|Residual Values (36 Months)|
|Trim||10,000 Miles/Year||12,000 Miles/Year||15,000 Miles/Year|
|Bolt EV LT||61%||60%||58%|
|Bolt EV Premier||60%||58%||57%|
|Credit Tier||Money Factor||Interest Rate Equivalent|
|Tier A+ and A1||.00050||1.20% APR|
|Tier A2||.00133||3.19% APR|
|Tier A3||.00217||5.21% APR|
LeaseHackr goes on to add:
“As for rebates and incentives, there’s a $2,500 Incremental CCR incentive through GM Financial (CA or OR only). Given how Bolt EV qualifies for the full $7,500 federal tax credit, we frankly expected the CCR to be higher. But it looks like GM is passing only a fraction of that amount to lessees — and using the rest to inflate the residuals (which also lowers the payment).
There are no other incentives from GM at the time (no competitive owner/lessee cash, no Farm Bureau rebate, and the like). However, like all battery electric vehicles, Bolt EV does qualify for the $2,500 CVRP mail-in rebate from the California Air Resources Board.”
Adding all the numbers together, as an example one could expect to lease a Chevrolet Bolt EV in California under some circumstances for $309/month with essentially nothing down.
For the early days, we expect the average lease price might be a bit higher that LeaseHacker’s number, as ‘added value’ packages at the dealership level will likely find there way onto early Bolt EVs; and of course not everyone qualifies for the stated $2,500 CVRP rebate…but with that said, GM sells virtually nothing at the stated MSRP – so given a few months (or with a Costco rebate today), a payment in the low $300s for the Bolt EV sounds reasonable to us.
Want to know what lease payment you might expect for yourself? Check out LeaseHackr’s online calculator here.