Just Leased a 2016 Spark EV LT2

[JWSpark]

Hi there, I'm a long-time armchair EV enthusiast that has finally made the plunge into the real world. Just this last weekend I leased a new 2016 Spark EV 2LT in metallic black. I am in the SF Bay Area and leased the car through Capital Chevy in San Jose. For a 36-month/10,000 mile arrangement, it cost me $2788 out the door with $92/mo payments (including taxes, fees and "wear and tear" coverage). This is before the California CVRP credit of $2500. So in the end it should cost me about $3500 total excluding insurance and charging. Seems to me like that's a price that's pretty hard to beat! :shock:

Based on my back of the envelope calculations even with the additional insurance and charging costs I'll be saving money on a monthly basis when comparing it to my 17 MPG premium gas burning alternative, where I spent almost $200 monthly on gas alone.

Anyhow, I'm very pleased to be part of the EV movement now, and I look forward to learning even more about the car and its potential through this forum.

 

[Cheburashka]

Seems like a decent deal especially with the wear and tear. The $2500 CA rebate ended over a month ago though.

 

[JWSpark]

Thanks. I'm aware that the CVRP ran out of funding within its current budget, but that doesn't mean the program is over. The funding wasn't renewed due to politics that are still playing out through the current legislative cycle. IMHO there is too much political desire to get more EVs on the road in California for the CVRP budget to not get renewed funding. It may just take some time for the politicians to sort it out.

Regardless the Spark EV was quite affordable without the rebate. Once the rebate money comes in it will be icing on the cake.

 

[sscpaev]

I got a 2LT with CCS ("fully loaded") for $0 out the door on June 4th. The monthly payments are $155/month for 35 months for 15,000 miles/year. I applied for the CVRP rebate before the waitlist started on June 10th, so my effective total cost for the lease is only ($155*35)-$2,500 = $2,925 or $81.25/month!!

I referenced ev-vin.blogspot before getting my deal from Capitol Chevy (DGDG) in San Jose. I highly recommend going to that blog for all EV leases and deals!

I thought your lease would have been much cheaper, since yours is only for 10K annual miles (or 15K fewer miles than my lease).

 

[sTeeve]

I got a 2LT with CCS ("fully loaded") for $0 out the door on June 4th. The monthly payments are $155/month for 35 months for 15,000 miles/year. I applied for the CVRP rebate before the waitlist started on June 10th, so my effective total cost for the lease is only ($155*35)-$2,500 = $2,925 or $81.25/month!!

I referenced ev-vin.blogspot before getting my deal from Capitol Chevy (DGDG) in San Jose. I highly recommend going to that blog for all EV leases and deals!

I thought your lease would have been much cheaper, since yours is only for 10K annual miles (or 15K fewer miles than my lease).

Bravo! :mrgreen:

-Bob K.

 

[Cheburashka]

I got a 2LT with CCS ("fully loaded") for $0 out the door on June 4th. The monthly payments are $155/month for 35 months for 15,000 miles/year. I applied for the CVRP rebate before the waitlist started on June 10th, so my effective total cost for the lease is only ($155*35)-$2,500 = $2,925 or $81.25/month!!

I referenced ev-vin.blogspot before getting my deal from Capitol Chevy (DGDG) in San Jose. I highly recommend going to that blog for all EV leases and deals!

I thought your lease would have been much cheaper, since yours is only for 10K annual miles (or 15K fewer miles than my lease).

This is an exceptional deal.

I got $1300 drive-off & $139/mo for the same at the Chevy dealer in Colma, but I also really wanted the line green color.

 

[JWSpark]

I got a 2LT with CCS ("fully loaded") for $0 out the door on June 4th. The monthly payments are $155/month for 35 months for 15,000 miles/year. I applied for the CVRP rebate before the waitlist started on June 10th, so my effective total cost for the lease is only ($155*35)-$2,500 = $2,925 or $81.25/month!!

I referenced ev-vin.blogspot before getting my deal from Capitol Chevy (DGDG) in San Jose. I highly recommend going to that blog for all EV leases and deals!

I thought your lease would have been much cheaper, since yours is only for 10K annual miles (or 15K fewer miles than my lease).

Well done! I did check the blogspot lease summary before talking with the dealer. I didn't cite it during negotiations so perhaps that unlocks some additional discount? I also didn't ask for more than 10,000/year as I have a very short commute and don't need the extra mileage. Are your numbers that you cite here inclusive of tax?

Regardless I'm still pleased with my car and my lease and happy to be part of the EV community. Tomorrow I brave my first drive into SF for work meetings. There are plenty of level 2 chargers near where the meetings are so I'm not really worried about range issues.

 

[sscpaev]

Yes, that's true. Too be honest, I don't think we would've gotten such an excellent deal if it had not been my friend and I getting two Sparks at once. Capitol Chevy also had many Sparks in stock (1LT, 2LT, various colors, all with CCS, etc.). It also required us showing a screenshot of the blog's lease deal. At first, the manager wouldn't budge, saying this deal quotes a base 1LT. It probably took us an extra hour of negotiating with going back and forth four times. We were honestly trying to hit the magic number of $150/month with the $0 out of pocket at signing. The lowest they were going with was $165/month, so the compromise was $155/month (tax included).

Having said that, I feel like the dealers will need to negotiate more now and people should get deals like mine, especially since the Bolt is coming out soon (within six months) and the CA rebate is uncertain. The rebate helps to almost make the lease "free." People will overlook the fact that it's a cheap, small economy car with the slow (3.3 kw) onboard charger, when the price is low enough for it to be their commuter car.

 

[Oberon]

Just for comparison, I purchased a 2016 1LT with DCFC for $21,600 out the door in June from Boardwalk Chevrolet in Foster City. Net after credits and rebates is only $11,600. I thought about leasing (I did lease my 2014), but I like the car and in three years I'll still need a car and they may not be giving them away then...

 

[jerb2k]

Dang, I feel like I got a terrible deal now lol. I bought my 2014 Spark 2 weeks ago used, with 16,500miles for $12k out the door without DCFC charging. I didn't know that all 2014's didn't come with DCFC at the time or what it really was to be honest but if I could've gotten a brand new 2016 for $400 less, I would have in a heart beat

 

[Oberon]

Dang, I feel like I got a terrible deal now lol. I bought my 2014 Spark 2 weeks ago used, with 16,500miles for $12k out the door without DCFC charging. I didn't know that all 2014's didn't come with DCFC at the time or what it really was to be honest but if I could've gotten a brand new 2016 for $400 less, I would have in a heart beat

If it helps, you have to have at least $7500 federal tax liability this year to get the full credit and would have to pay the full 21600 up front so there is some financing/opportunity cost there. Anyway, $12k for a low mileage 2014 is still a pretty good deal, I would have paid that no problem if I hadn't lucked onto the extra incentives.

 

[sphinx]

I'm being offered, all taxes included:
$99 with $1400 driveoff (10,000 miles)
$109 with 1400 driveoff (12,000 miles)
$146 with 146 driveoff (12,000 miles)

Any opinions?

 

[Cwhite]

The main question is can you say under the 10k mileage cap. We only drive about 600 miles a month so it was easy for us to save the $10 a month. Deciding on your 12K plans is just what you want your initial out-of-pocket to be, in the end you total payments are very close to the same. ($146*36)+ 146 = $5402 and ($109*36)+1400 = $5324. The difference is the interest you save on not having the $1254 rolled into the lease. Are you in CA? We love our Spark and I am sure you will also.

 

[sphinx]

The main question is can you say under the 10k mileage cap. We only drive about 600 miles a month so it was easy for us to save the $10 a month. Deciding on your 12K plans is just what you want your initial out-of-pocket to be, in the end you total payments are very close to the same. ($146*36)+ 146 = $5402 and ($109*36)+1400 = $5324. The difference is the interest you save on not having the $1254 rolled into the lease. Are you in CA? We love our Spark and I am sure you will also.

Yes, norcal. I'm definitely going to be using mine for 12000/year. And running the math, the difference is worth it.

 

[sphinx]

Picked up a 1lt last night. $98/with tax for 35 months, 1400 down (including first months payment), 12,000 per year.

 

[Anonymous]

Finally I also joined EV revolution.

10/02 - Leased a new Spark EV 2LT (silver). 3 yr / 10K miles for $142/month with $0 down.