What is being offered at end of lease?

[fr100]

My original lease agreement says there is a $395 disposition fee. They said that was standard for leases and what I read from a Google search seemed to confirm that. Were you not charged one?

 

[MrDRMorgan]

My original lease agreement says there is a $395 disposition fee. They said that was standard for leases and what I read from a Google search seemed to confirm that. Were you not charged one?

I turned the car in the last week in May 18 and I have not yet seen any billing for a disposition fee. But... I expect eventually I will.

 

[CSW]

Some leases have it, some don't it seems..... I have 2 spark leases, one has a 395 fee and the other has a zero fee.

 

[MrDRMorgan]

Some leases have it, some don't it seems..... I have 2 spark leases, one has a 395 fee and the other has a zero fee.

Mine may not. I went over my lease contract and I did not see any mention of a disposition fee.

 

[CSW]

On my lease it is line/section 4, part A where the fee shows. 395.

 

[MrDRMorgan]

On my lease it is line/section 4, part A where the fee shows. 395.

I went right by that section without noticing it. Everything was $0.00 but I suspect they may have covered the disposition cost out of the $7500 tax credit they kept.

 

[DavidH]

It appears that some people are having good luck renegotiating the end-of-lease purchase price while others are not. I have a 2016 Spark ev with the 3-year lease ending July1, 2019. I currently have 4800 miles, so I anticipate having about 7200 miles at the end of the lease. The purchase option is $10,698.

1) If they are willing to renegotiate, what price should I aim for?

2) If they are unwilling to renegotiate, and I would like to purchase a used Spark ev, where is the best place to look?

Thanks.

 

[MrDRMorgan]

It appears that some people are having good luck renegotiating the end-of-lease purchase price while others are not. I have a 2016 Spark ev with the 3-year lease ending July1, 2019. I currently have 4800 miles, so I anticipate having about 7200 miles at the end of the lease. The purchase option is $10,698.

1) If they are willing to renegotiate, what price should I aim for?

2) If they are unwilling to renegotiate, and I would like to purchase a used Spark ev, where is the best place to look?

Thanks.

7200 miles after 3 years? Cargurus.com shows 2015 Spark EVs going for around $10k for areas near my home in Central California. In my opinion, if you have not had any problems with your 2016 Spark EV, try to negotiate a lower price but, personally, I would have no problem paying $10,698 as long as it was in very good to excellent condition and there was no or very little HV battery degradation. Last year I paid $11,700 for a 2016 Spark EV 2LT with 6500 miles on it to replace my 2015 Spark EV which I turned in last month. A year later, the car is running great! The buyout for my 2015 Spark EV was $14.5K and it had suffered more HV battery degradation than I expected.

 

[ReddyKilowatt]

GM Finance wouldn't negotiate with me and said if I paid $14,750 (plus a $900 fee for title release in a state with no sales taxes) and for a car worth $10,000 TOPS the car could stay with me. I had the Chevy dealer try to negotiate with them to get the car released to them - nope. So after I turned it in, it sat on the lot 6 weeks and was hauled off to be sold at an auction, where it probably brought in $5,000 tops.

The dealer desperately wanted me in a new Volt or Bolt, but I am just not interested in buying a $35,000-$45,000 car and the best lease price for the equip level I wanted was $375 a month. Too much.

 

[CSW]

Lease here in CA for a Volt is 275 a month with nothing down. It is on the Chevy web site.

It is nuts how GM does not negotiate at the end of the lease for Sparks. Total bad business decision from where I am looking, but maybe they know something I don't or they have other plans.