Leasing a 1LT - Suggestions Welcome

[gambit]

Okay - so I'm strongly considering a lease, and the 1LT makes the most sense. Like why pay a premium deposit ($999 vs $1999) and a higher monthly lease cost ($199 vs $230) for $325 worth of 'options' ?

I'm seeking advice, suggestions and recommendations from you smart people. This would be the first time I've ever leased a car - we usually purchase them and drive them more than 150,000 miles.

I think I understand the basic elements of the lease, but are there any pitfalls, gotchas, or traps that I should be aware of?

thanks

 

[gambit]

Okay - so I took the plunge on the 1LT from Selman Chevy in Orange.

Very, very easy transaction. No pressure, the deal was $999 drive off, and with taxes and fees it will be around $230 per month for the next 35 payments (the first month's payment was included in the $999 drive off).

I had the dealer sign me up for the free AeroVironment/CEC Charger - I received the email confirmation that my charger was reserved pending verification of the purchase. (I timed this lease to take advantage of the free L2 Charger + Installation. Luckily, there was another salesman that is a top Chevy Volt seller who knew what to do to register for the AeroVironment charger. The allocated quantity of chargers for the month of August was at 149 at 6 am on 8/06, and by the time I registered, the available quantity of chargers was at 111 as of 9 pm on the same day).

 

[scotte]

This was my first lease too, but it's a pretty easy process, no surprises. A couple of things are worth nothing though:

1. The $199 is before taxes.

2. Just like when buying a car, the finance person will have a bunch of add-ons - some the same as buying a car (gap insurance, paint or interior packages), but one is unique to leases - dent/damage insurance.

 

[iletric]

The down payment with all the other junk added came to $1,600. We chose 15,000 miles per year which comes to 248 bucks a month. This way we don't have to fret over too many miles. We know we'll run it up. Otherwise payments would have been about 10 bucks or so less for the usual 12,000. We have to extend our bumper to bumper at 35,000 miles, or we'll lose the coverage at 36,000. It's going to be about 500 bucks we were told.

No extra warranties or Scotch guarding b.s. I'll do it myself, even as I found out it's getting harder and harder to fing a Scotchguard spray cans out there. Many sites are out of stock. found it at autobarn.com. Good price and low shipping (for 3 cans order).

Now what I look forward to is that nice $2,500 check from Ca clean air to offset about 8 months of cost (which includes cheaper driving w/o gas). I recon we save 100 bucks or more per month by not buying gas.