I went with a lease as well, but I in my case I don't think the lease ends up being cheaper than purchasing. I'm not trading-in a vehicle so all I will get is the $1000 GM lease cashback (assuming I can pick up a car by end of April) and the GM Visa $500 credit (unfortunately, I didn't make it to the auto show so no additional $750 credit either).3ajs wrote: ↑Apr 5th, 2017 12:06 amGreat news everyone!!! GM lease cash bonus of $1000 has been extended to the end of April. This means that the 3 year lease payments + residual buyout grand total is a few hundred less than the cash purchase price! Lease includes 20,000km per year. Talk about a sweet deal. Now you don't have to decide today whether you should lease or buy. Lease for now, and decide 3 years later whether it's worth buying out or simply return it.
With a 3-year lease, the residual is $16,136.25. But if I wanted to buy out the car, I'd still have to pay 13% HST ($2097.71) on top of that. Plus it will cost at least $100 to certify the car, and the dealer might charge ~$400 to do the purchasing paperwork.
So in my case, it'll cost somewhere around $2k-$3k more (all-in) to lease for 3 years and then buy-out the car.
But given how quickly EV tech is evolving, I don't think I'll be keeping the Volt for more than 3 years anyway. This is also my first GM car (I've always owned VAG) so I'm not sure whether I'm going to love the car enough to keep it for 10 years. So the lease still makes sense for me.