Lease up in Oct, want to buy-out but nervous!

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Joined
Dec 20, 2015
Messages
60
Hello,

I have leased a 2015 LE w/ 17k miles which due to be returned this October, it will probably still have under 20k miles by then.

I leased for $4500 out the the door + $139/month * 36 months. Received $2500 rebate from CA and the $7500 Federal was applied to the lease to lower the payments. After tax and "lease protection" I paid $176/month.

So total for the lease, $8336. My lease buyout cost is $12350, so total if I bought would be about $20686, or say $22,000ish after tax for sake making it easy. While this is certainly much more than most of you who bought the car outright for that price before incentives from the get-go, in my head I still feel like this is a decent deal for a car with a MSRP of 35k, and would be closer to 40k after tax, title, blah blah bla.

Other than a factory recall for the battery voltage spike shutdown issue, this car has been great and knock of wood, never been a problem. I like the car, and for 99% of my driving the range isn't an issue, the one or two times a year if I want to take a road trip I just rent a car for $100.

A couple things worry me, my 35-mile drive from Burbank to Thousand Oaks (a few times a month) where my girlfriend lives leaves me with about 10-15 miles if I don't charge for my return trip, never a problem now, but a little concerned if the battery degrades too much, I'll have to get a new girlfriend (joking!) however there are charging options not only at her house, but a free Volta L2 charger at a nearby grocery store. The other thing is I currently rent an apartment, and right now I have a garage with an outlet to allow me to charge, if I do buy this car, I am committing myself to this apartment for as long as I own the car since it will be difficult to find another place that I'll have the ability to plug in at home.

I was thinking about rolling the dice and buying it instead of returning it...and of course right when I make this decision I see a lease deal for a 2018 Volt, 3k down $99 a month, so I figure about $8,000 for another three years of leasing, bringing me to a total of about $16,000 for leasing for 6 years between the two cars, which is ultimately cheaper than buying the e-golf (total cost lease+residual) assuming I only kept it for another three years, however honestly barring unforeseen circumstances I'd like to keep it as long as it suits my needs, but with the e-golf being so new still, nobody really knows how reliable they'll be long term, or how the battery will hold up, and if VW will be honest about honoring their warrenty.

Basically I'm unsure if I should keep the car because I've been happy with it, it has low miles (usually only put 5-6k miles a year on it), I know what it has been through, or return and go for another cheap three year lease, and hope by then that EVs are much further along, I was hoping we'd be there by now, but with the availability date of my Model 3 cheap edition reservation getting pushed now into early 2019 doesn't look like I'll qualify for the full Federal rebate, and I'll need a car before then with my lease running out.

Basically I need someone to go into the future, and tell me if the e-golf will be as reliable as a blender like I hope and think it will be, and that the battery will hang on giving me just enough range for everything to work out fine and dandy! Or if buying it is a fool's choice and go with another cheap lease and after the next three years are up look into buying whatever wondering EV exists then, but most likely not getting any tax incentives.

I don't know if I'm asking a question or just venting my concerns but I've been struggling with this decision for several months now so just wanted to see what others thought.

Thanks for your time,
Shawn
 
shawner123 said:
Hello,

I have leased a 2015 LE w/ 17k miles which due to be returned this October, it will probably still have under 20k miles by then.

I leased for $4500 out the the door + $139/month * 36 months. Received $2500 rebate from CA and the $7500 Federal was applied to the lease to lower the payments. After tax and "lease protection" I paid $176/month.

So total for the lease, $8336. My lease buyout cost is $12350, so total if I bought would be about $20686, or say $22,000ish after tax for sake making it easy. While this is certainly much more than most of you who bought the car outright for that price before incentives from the get-go, in my head I still feel like this is a decent deal for a car with a MSRP of 35k, and would be closer to 40k after tax, title, blah blah bla.

Other than a factory recall for the battery voltage spike shutdown issue, this car has been great and knock of wood, never been a problem. I like the car, and for 99% of my driving the range isn't an issue, the one or two times a year if I want to take a road trip I just rent a car for $100.

A couple things worry me, my 35-mile drive from Burbank to Thousand Oaks (a few times a month) where my girlfriend lives leaves me with about 10-15 miles if I don't charge for my return trip, never a problem now, but a little concerned if the battery degrades too much, I'll have to get a new girlfriend (joking!) however there are charging options not only at her house, but a free Volta L2 charger at a nearby grocery store. The other thing is I currently rent an apartment, and right now I have a garage with an outlet to allow me to charge, if I do buy this car, I am committing myself to this apartment for as long as I own the car since it will be difficult to find another place that I'll have the ability to plug in at home.

I was thinking about rolling the dice and buying it instead of returning it...and of course right when I make this decision I see a lease deal for a 2018 Volt, 3k down $99 a month, so I figure about $8,000 for another three years of leasing, bringing me to a total of about $16,000 for leasing for 6 years between the two cars, which is ultimately cheaper than buying the e-golf (total cost lease+residual) assuming I only kept it for another three years, however honestly barring unforeseen circumstances I'd like to keep it as long as it suits my needs, but with the e-golf being so new still, nobody really knows how reliable they'll be long term, or how the battery will hold up, and if VW will be honest about honoring their warrenty.

Basically I'm unsure if I should keep the car because I've been happy with it, it has low miles (usually only put 5-6k miles a year on it), I know what it has been through, or return and go for another cheap three year lease, and hope by then that EVs are much further along, I was hoping we'd be there by now, but with the availability date of my Model 3 cheap edition reservation getting pushed now into early 2019 doesn't look like I'll qualify for the full Federal rebate, and I'll need a car before then with my lease running out.

Basically I need someone to go into the future, and tell me if the e-golf will be as reliable as a blender like I hope and think it will be, and that the battery will hang on giving me just enough range for everything to work out fine and dandy! Or if buying it is a fool's choice and go with another cheap lease and after the next three years are up look into buying whatever wondering EV exists then, but most likely not getting any tax incentives.

I don't know if I'm asking a question or just venting my concerns but I've been struggling with this decision for several months now so just wanted to see what others thought.

Thanks for your time,
Shawn

I'd let it go. Turn it in.
 
Come on Joules the man poured out his car's life story and you give a seven word response. Give some contexts to your answer. Educate us all and why tell us why you feel that way.
 
If you like car and it has been as reliable as a blender I would keep it.

Look at it as if you are buying a used car and forget what you paid out on the lease since that is water under the bridge. I don't think you can buy a better EV for only $12.5k and that is a great price for a 20k mile used e-Golf. Plus you know the car and how good it has been for you.

We have had our 2015 since last November. It is closing in on 39k miles and is as reliable as a blender. Starting to feel like one of the best cars I have owned.
 
msvphoto said:
If you like car and it has been as reliable as a blender I would keep it.

Look at it as if you are buying a used car and forget what you paid out on the lease since that is water under the bridge. I don't think you can buy a better EV for only $12.5k and that is a great price for a 20k mile used e-Golf. Plus you know the car and how good it has been for you.

We have had our 2015 since last November. It is closing in on 39k miles and is as reliable as a blender. Starting to feel like one of the best cars I have owned.


Thank you for the input.

I hate to say it because it means nothing but I just have a "feeling" that it will continue to be a great car even if in the future I have to deal with charging it more.

As far as horseless carriages go it just seems to really fit the bill, especially living in a city where traffic is horrific as it is here, half the time I'm going 3mph and it just feels great to not be using any gas.

In my head I like to imagine that since VW knew this wasn't going to be a money maker (especially the 2015 models) they just did a great job (other than that over volt recall) engineering it.

Anyway I'm starting to rant on and trying to convince myself to do it again so I'll stop.

Thank you again for taking the time to read and respond!!
 
SocaleGolf said:
Come on Joules the man poured out his car's life story and you give a seven word response. Give some contexts to your answer. Educate us all and why tell us why you feel that way.


Right? I haven't been too active here in a few years but I remember him criticizing everyone who even hinted at the slight amount of disappoint or issue with this car since day one! You know, maybe him saying to let it go tells me everything I need to know that I should definitely keep it!
 
shawner123 said:
SocaleGolf said:
Come on Joules the man poured out his car's life story and you give a seven word response. Give some contexts to your answer. Educate us all and why tell us why you feel that way.


Right? I haven't been too active here in a few years but I remember him criticizing everyone who even hinted at the slight amount of disappoint or issue with this car since day one! You know, maybe him saying to let it go tells me everything I need to know that I should definitely keep it!

The LE has Halogen lights, no cruise control, and no heat pump. Sorry, but those are kind of deal breakers, personally, for me. If you love the car and your battery is in good shape, then keep it. If you want something newer, or more range, or top of the line, let it go. Everybody has their own preferences.
 
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