Author Topic: NJ only:Chevy Bolt (electric car) $55/$72 a month 36/10k miles with one pay  (Read 79931 times)

Offline normathej

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So I'm now having second thoughts about my swap choice, as the two discounts available to buy a bolt make it so cheap today.  I am now thinking about buying a new bolt  for cash with $4k NJ Chargeup + $3,750 lease loyalty, which brings a basic 1LT to around $21k.  Then for my swap, taking a traverse or other car with approximate MSRP of $40k, and buying it out right away for the residual value of $20k, and selling it for as close to the $40k as I can.  I know I'll pay taxes and all, but net cash to own a new bolt this way will be cheaper than the $5k cash I could get back now, but remaining residual value of $20k when my lease is up.

Any tips on a marketplace where I can try to find an interested buyer?  Local, or online? I could even choose color, etc. based on what the buyer wants.


Offline avromie7

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So I'm now having second thoughts about my swap choice, as the two discounts available to buy a bolt make it so cheap today.  I am now thinking about buying a new bolt  for cash with $4k NJ Chargeup + $3,750 lease loyalty, which brings a basic 1LT to around $21k.  Then for my swap, taking a traverse or other car with approximate MSRP of $40k, and buying it out right away for the residual value of $20k, and selling it for as close to the $40k as I can.  I know I'll pay taxes and all, but net cash to own a new bolt this way will be cheaper than the $5k cash I could get back now, but remaining residual value of $20k when my lease is up.

Any tips on a marketplace where I can try to find an interested buyer?  Local, or online? I could even choose color, etc. based on what the buyer wants.
Car Shadchan
I wonder what people who type "u" instead of "you" do with all their free time.

Offline coffeebean

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FYI if you are considering this route, and buy the new bolt before your turn your existing lease in, there is also a $3,750 bolt lease loyalty credit from GM.
Thank you, what about Costco?

Offline coffeebean

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Car Shadchan
Meh, my experience is Carvana or any online site. They pay way more.

Offline coffeebean

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Is it possible to pay the residual early before the lease is up in order to flip the car?

Offline Fish Tank

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Meh, my experience is Carvana or any online site. They pay way more.
Not IME.

Offline coffeebean

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So I'm now having second thoughts about my swap choice, as the two discounts available to buy a bolt make it so cheap today.  I am now thinking about buying a new bolt  for cash with $4k NJ Chargeup + $3,750 lease loyalty, which brings a basic 1LT to around $21k.  Then for my swap, taking a traverse or other car with approximate MSRP of $40k, and buying it out right away for the residual value of $20k, and selling it for as close to the $40k as I can.  I know I'll pay taxes and all, but net cash to own a new bolt this way will be cheaper than the $5k cash I could get back now, but remaining residual value of $20k when my lease is up.

Any tips on a marketplace where I can try to find an interested buyer?  Local, or online? I could even choose color, etc. based on what the buyer wants.


I agree with this route. From my experience, if you want to flip the car, spend 3 hours going on the top 10 buy/sell sites and request a quote. The trick is just wait and the company's will consistently send you higher and higher quotes. You'd be surprise how easy the process is. Someone will come with in 24 hours to pick up your car and you'll get a check in no time.

Offline coffeebean

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Not IME.
I've listed a Honda Oddesy for 15.5k for weeks with Car Shadchan before receiving 17k from Carvana instantly.

Offline davidd75

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So if I purchase a car today and the bill is passed in 2 months, how will I get the $7500?

so can only make use of $7500 federal tax credit if delivery in 2023?

Offline avromie7

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Is it possible to pay the residual early before the lease is up in order to flip the car?
It's called an early buyout
I wonder what people who type "u" instead of "you" do with all their free time.

Offline coffeebean

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Offline davidd75

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so can only make use of $7500 federal tax credit if delivery in 2023?

how do i make use of both credits(state and potential federal) what dates do I need to stick to?

Offline Fish Tank

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how do i make use of both credits(state and potential federal) what dates do I need to stick to?
You can buy today and take advantage of both, unless it's a tesla etc.

Offline davidd75

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You can buy today and take advantage of both, unless it's a tesla etc.

bolt is eligibile already?
what dates do you have to adhere to get both?

Offline coffeebean

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You can buy today and take advantage of both, unless it's a tesla etc.
Can you elaborate? The 7,500 CR is out?

Offline normathej

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Can you elaborate? The 7,500 CR is out?

GM and Tesla cars don't qualify at this time.  The new bill may change that, but it's not law yet.

Offline coffeebean

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I substituted my request for a Traverse base model. Thanks @normathej and @Realshlomo for input. MSRP is $35,615 after freight charge. What am I looking at after tax?

Offline Realshlomo

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I substituted my request for a Traverse base model. Thanks @normathej and @Realshlomo for input. MSRP is $35,615 after freight charge. What am I looking at after tax?
Tax is covered by gm

Offline coffeebean

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Tax is covered by gm
That's great! Did you receive base model? Am I looking at a 5k return?

Offline Realshlomo

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That's great! Did you receive base model? Am I looking at a 5k return?
I took the closest to my msrp cause that's what was coming from the factory at that point. So I didn't get anything back.