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      02-23-2021, 08:43 AM   #30

Drives: No BMW for now
Join Date: Jun 2006
Location: Canton, MI

iTrader: (1)

Originally Posted by GenXer View Post
I finally went and bought a plug in electric Chevy Volt.

It still has plenty of warranties left and still in excellent condition.

I opted to make a payment on it since interest is only 4.2%

My payment is $257/month
Insurance $50/month


I still have 3 days to decide whether to get an all electric Bolt for $50 more a month as part of the deal.
I commend you throwing caution to the wind and taking the plunge. The Volt is great if you want that safety net. At the same time, the Bolt offers great value, and if you find you are not able to reliably charge at work (don't have a guaranteed place to charge every day, for example), you might offset a good chunk of that $50 savings in gas costs. Finally, even if you can charge, eking out the advertised 50+ miles electric range on a consistent basis might also be a challenge.

A monthly payment of $250 is pretty good. I will say that I've seen leases on leftover 2020 Bolts advertised at under $200. Also, a 4.2% loan rate is probably a bit higher than market average. My credit union has 2.25% and I don't think they are the lowest in the area. Admittedly, a couple percentage points is not going to have too big an impact on total loan value.

Edit: Worth a read:

I don't mean to be negative - certainly not trying to crap on your deal and vehicle choice - just wanted to share some thoughts. Either way, good luck with the new ride.
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