Good lease from Martin Chevrolet

[greenspark]

I just leased a Spark this weekend. I have not seen any better deals in Southern California, so I thought I would share:

2LT with DC fast charger
10k miles per year
36 months

Down: $0 (All fees etc. are included in the monthly payment. I walked out of the dealership without paying them anything.)
Monthly: $117 (includes sales tax)
$395 disposition fee at end

The lease is from Martin Chevrolet. The car was acquired from Felix Chevrolet, and we got it by contacting Martin's internet manager through Costco.

Edit: The first month was free: the lease has a total of 35 payments of $117. Including the disposition fee, the total cost of the lease is 35 * 117 + 395 = $4490. After subtracting the $2500 rebate this comes out to $55 per month.

 

[LAsparks]

I am also going through the Costco program for Martin Chevrolet regarding lease offers but I haven't heard back from them yet. I'm surprised how incredible your deal was and I'm interested in getting a similar one. The best lease offer I've been able to find online is for the 1LT with $0 down, $139/month, not including tax, license, dealer fees, etc.

Did the dealer offer the lease you got when they contacted you or did you have to negotiate with them? Did you ask them to include the fast charger too or was that included in their initial offer? I would appreciate any details you can provide.

 

[SparkevBlogspot]

If you don't mind bit of a drive,

Dublin Chevrolet
36mo
$67/mo + tax
$1500 + tax, lic
-$2500 rebate
=$1412
divided by 36 mo = $39/mo

Check out other lease deals here. There are others closer to LA, but bit more. Stil, SparkEV is practically free!

http://ev-vin.blogspot.com/

 

[LAsparks]

Thanks for the suggestion. I'm working on a deal that is to be completed tomorrow. It works out to be approx. $45 a month after factoring in the $2500 California rebate and it is a $0 down payment. I will post the details when everything is finalized.

 

[rickp]

On April 20 (after reading OPs post), I did the Costco auto program process and got referred back to Michelle the internet manager at Martin. I'd talked to her in the past about leasing a new Spark (my 2014 goes off lease first week of July).

She told me that greensparks' lease was an unusual deal that required some finagling to put all the pieces together and that she wasn't sure she could do the same for me. She did say that there was one lime green EV on the lot without the fast charge and I told her that was not important since I seldom charge away from home and did not know of many SAE combo chargers where I might go.

Just a few minutes later, she said her manager would approve a $0 driveaway, $117/mo deal if I signed it that evening. My original intent was to look for a replacement Spark or Leaf in June so as not to have double lease payments. However, the deal sounded too good to pass so I went there that evening and signed a new lease.

I got the 2LT model for $0 driveaway, $117.93/mo for 36 mos (first month was included in the amount due at signing so essentially the first month is free). Gross capitalized cost was $23,211 and the rebates and credits totalled $9850. Somewhere in there was a loyalty bonus and lease recognition of my current Spark. They asked for proof of my lease so if you have an existing lease, take a copy of your last payment statement with you to the dealership. Also info about any loans such as your mortgage as they will review all of it to determine what sort of lease rate they can offer. It helps to have a good FICO as well. Print the Costco doc that gets generated when you apply for the program.

The math: $117.93 x 35 payments = $4127.55 + $395 disposition fee (if I don't buy the car at the end of the lease) - $2500 CARB rebate = $2022.55. divided by 35 remaining payments = $57.79/mo. net.

Because the first payment on the new lease that I have to make won't be until 5/20, I'll only have about 6 weeks of overlapping lease payments which is more than fine.

If I buy the car at end of lease, the net monthly lease payments will have been $46.50.

The residual value is $11,081.70. The leasing co. for my current Spark wanted about $13,500 for me to purchase it.

My current Spark EV lease is $218/mo. so I will get some relief when it ends. I also get another 3 years of free OnStar service.

I'm happy and now I have time to see how the Bolt plays out over the next year or so.

 

[Jason90405]

I was able to replicate the issue with another LA dealer.

It was $117 per month for 35 months. All the taxes, doc fees and first month payment were waived with zero down.

$117 x 35 = $4095

I did paid the overpriced 'wear and tear' insurance @ $800 plus wheel/tire coverage of $500. Does anyone know if the insurances were worth it? I've never leased a car before in my life.

 

[rickp]

$800 seems a bit high for wear/tear insurance. If you also paid $500 for the wheels, does that mean $1300 total for possible damage that might occur?

If you have encountered such damage on prior cars you have owned due to personal habits/parking/storage events beyond your control, that might be worth it but I would never get it.

High wear and tear means large dings in the metal, tears/burns in the upholstery and missing original equipment. One would have to be careless and/or abusive to have most of this happen.

Personally, I wouldn't do it. I will be returning my current Spark when the lease expires and to my understanding of the W&T definitions sent to me by the leasing company, I won't be out a dime.

See: https://www.gmfinancial.com/finance-options/excess-wear-and-tear.aspx

Also note if you choose to buy the car at the end of lease, there will be no W&T or extra mileage charges. So you not only avoid the $395 'disposal' fee, you won't be liable for any damage you imposed.

If it were me, I would not insure for these conditions. That would give me an extra $1300 + $395 essentially off the residual value of the car at lease end for the possibility of purchasing it used.

 

[Jason90405]

Thank you for your thoughts. I just emailed m sales guy and ask to be refunded the tire/wheel coverage (there's a 60 day return period). I'm not sure if I can back out the regular wear and tear one ($800). I'm sure the dealer wants to keep the mostly-profit item.

I don't anticipate keeping my Spark in 2019 since its 82-mileage per charge will be worthless though they could possibly make a deal I can't possibly refuse to keep the car.

 

[soalpha]

Thanks a bunch for sharing. I got a reasonably good deal cos of this.

I got $0 out of door.

1LT with DC fast charger (Dealer didn't have 2LT)
12k miles per year
36 months
Monthly: $127 (includes sales tax)
$395 deposition fee at end

Whoever is going to dealership to get the spark EV - remember to ask the dealer to beat this deal. They will try to add a few charges upfront but tell them you want $0 down.

I just leased a Spark this weekend. I have not seen any better deals in Southern California, so I thought I would share:

2LT with DC fast charger
10k miles per year
36 months

Down: $0 (All fees etc. are included in the monthly payment. I walked out of the dealership without paying them anything.)
Monthly: $117 (includes sales tax)
$395 deposition fee at end

The lease is from Martin Chevrolet. The car was acquired from Felix Chevrolet, and we got it by contacting Martin's internet manager through Costco.

 

[rickp]

What dealer did you get the lease from?

Thanks a bunch for sharing. I got a reasonably good deal cos of this.

I got $0 out of door.

1LT with DC fast charger (Dealer didn't have 2LT)
12k miles per year
36 months
Monthly: $127 (includes sales tax)
$395 deposition fee at end

Whoever is going to dealership to get the spark EV - remember to ask the dealer to beat this deal. They will try to add a few charges upfront but tell them you want $0 down.

I just leased a Spark this weekend. I have not seen any better deals in Southern California, so I thought I would share:

2LT with DC fast charger
10k miles per year
36 months

Down: $0 (All fees etc. are included in the monthly payment. I walked out of the dealership without paying them anything.)
Monthly: $117 (includes sales tax)
$395 deposition fee at end

The lease is from Martin Chevrolet. The car was acquired from Felix Chevrolet, and we got it by contacting Martin's internet manager through Costco.

 

[soalpha]

Fremont Chevrolet on Cushing Parkway

What dealer did you get the lease from?

Thanks a bunch for sharing. I got a reasonably good deal cos of this.

I got $0 out of door.

1LT with DC fast charger (Dealer didn't have 2LT)
12k miles per year
36 months
Monthly: $127 (includes sales tax)
$395 deposition fee at end

Whoever is going to dealership to get the spark EV - remember to ask the dealer to beat this deal. They will try to add a few charges upfront but tell them you want $0 down.

I just leased a Spark this weekend. I have not seen any better deals in Southern California, so I thought I would share:

2LT with DC fast charger
10k miles per year
36 months

Down: $0 (All fees etc. are included in the monthly payment. I walked out of the dealership without paying them anything.)
Monthly: $117 (includes sales tax)
$395 deposition fee at end

The lease is from Martin Chevrolet. The car was acquired from Felix Chevrolet, and we got it by contacting Martin's internet manager through Costco.

 

[flyinbrick]

Soalpha, pretty good deal. I was at Fremont Chevy last Sunday and I got quoted $405 drive-off and 127/mo+tax ($139) 36 months, 10k/year for 1LT. Will try to get them to match yours. Any tips? Did you get my quote initially?

 

[soalpha]

I started with the initial quote in this thread and worked my way in. The folks there are pretty good and will want to make the deal happen. From experience, I can tell you that you need a fast charger. Don't get an EV without the DCFS especially if you can get it at the same price

Soalpha, pretty good deal. I was at Fremont Chevy last Sunday and I got quoted $405 drive-off and 127/mo+tax ($139) 36 months, 10k/year for 1LT. Will try to get them to match yours. Any tips? Did you get my quote initially?

 

[flyinbrick]

Thanks! They are all out if inventory and am waiting for the next shipment to arrive for memorial day weekend. Will post up the deal i end up with. I am so ready to jump onto the carpool lane after work.

 

[soalpha]

Awesome!

Thanks! They are all out if inventory and am waiting for the next shipment to arrive for memorial day weekend. Will post up the deal i end up with. I am so ready to jump onto the carpool lane after work.

 

[mandy]

@LaSparks Can you please share you dealer and sale person info for Spark EV!

 

[flyinbrick]

OK, so I just signed a lease with Fremont Chevy. I ended up with 2LT+DCFC, 12k mi/yr, 250 drive-off, 138/mo incl tax, 395 disposition at end of lease. I think I got a good deal (?) but maybe not a great one. The people at the dealership were all pretty nice though and I don't have any complaints.

Their first offer was 405 drive-off, 160/mo incl tax. I wanted them to match the equivalent of salpha's deal of 0 drive-off and 127/mo incl tax for 1LT. The 2LT is 390 more MSRP, 36 mo residual is 39%, so by my math, the payment increase for 2LT should be (390 * .39)/35 = ~$4.34. Let's call it $5. So the equivalent deal should be 0 drive-off, 132/mo incl tax. Well me being the impatient, can't-stand-dealerships, hate-haggling me, ended up with what I got. Their "final" offer was $414 drive-off, 138/mo incl tax. As I got up to leave, they cut the drive-off down to 250 and I caved. I still think I could have gotten 0 down, but hey. The salesman i dealt with was Ramon.

Good luck everyone and post your deals! Thanks to everyone for your help!
Once you get one, call Bosch for $500 rebate on home charger
link: http://www.pluginnow.com/discount
(Note: The website says 2015 Spark EV, but I called and confirmed the deal is still good so I assume for 2016 models also)

 

[bro1999]

OK, so I just signed a lease with Fremont Chevy. I ended up with 2LT, 12k mi/yr, 250 drive-off, 138/mo incl tax, 395 disposition at end of lease. I think I got a good deal (?) but maybe not a great one. The people at the dealership were all pretty nice though and I don't have any complaints.

Their first offer was 405 drive-off, 160/mo incl tax. I wanted them to match the equivalent of salpha's deal of 0 drive-off and 127/mo incl tax for 1LT. The 2LT is 390 more MSRP, 36 mo residual is 39%, so by my math, the payment increase for 2LT should be (390 * .39)/35 = ~$4.34. Let's call it $5. So the equivalent deal should be 0 drive-off, 132/mo incl tax. Well me being the impatient, can't-stand-dealerships, hate-haggling me, ended up with what I got. Their "final" offer was $414 drive-off, 138/mo incl tax. As I got up to leave, they cut the drive-off down to 250 and I caved. I still think I could have gotten 0 down, but hey.

Good luck everyone and post your deals! Thanks to everyone for your help!
Once you get one, call Bosch for $500 rebate on home charger
link: http://www.pluginnow.com/discount
(Note: The website says 2015 Spark EV, but I called and confirmed the deal is still good so I assume for 2016 models also)

I just leased a Spark EV....is the $500 Bosch money good towards a Bosch unit even if I don't get it installed by the certified installer?

 

[flyinbrick]

My understanding is yes, the rebate is just for purchase of the charger. If it gets installed by a "Bosch certified" installer, the warranty gets extended from 1 to 3 years. Not sure if you'd be able to find a certified installer without going theough them though. Another key point is that the spark is only equipped with 3.3kv onboard charger, so getting a 30a charger will not charger any faster than the 15a one. That said, for only $100 more, i think a 30a charger would be a good future-proof feature to have. Go to pluginnow.com/discount for info.

 

[SparkevBlogspot]

If it anything like 2015, $500 rebate goes straight from GM to Bosche, and there's no need to install it. After I got mine, it was sitting there for weeks due to high install cost (almost $10K). Then I found 240V outlet in barn, and it was installed for much less ($20 in parts).

As for 16A vs 30A, you have to weigh what you need. 30A might be fine if your existing wiring will support it (I think 40A minimum). But 16A would be almost universally accepted. I have 50A service in barn, but I chose 16A. Even if I get 100 kWh battery EV in the future, 16A would provide 80 miles in 6 hours (137 miles in 10 hours while sleeping, eating, etc), and longer distance would use DCFC.

But if you plan to drive 200+ miles a day regularly in the future or live in areas without DCFC and you need "quick" fill up at home, 30A might be worth ~$150 extra.