2016 it is.

"Eury - AFRICA TWIN!!!!!!!" (eurylokhos)
07/01/2019 at 05:55 • Filed to: None

Went back and forth on the 2 cars and bought the used one. Once all was said and done it was a 5k difference to buy the new 2019 Volt vs the 2016 with 7900mi. However, to get it that close via a $1500 rebate we had to take GM’s finance. With a 750 score at 7%, and had to keep the account with them and not refinance for 6mo.

Uh. No. I’m not signing a loan at that rate, especially when the used was 3.8%. I know if I do the math the total outlay difference between a low rate for the life of the loan vs 6mo at bullshit rates and refinancing isn’t much. I just can’t deal with committing like that not knowing what the future may hold. Anything can happen that might stick us with a crazy rate long term. Plus my initial outlay would be much higher and have to wait until next year for the tax credit.

So we now own a Volt. So far so good. Time to suck up the excess power my solar produces instead of giving it to the power company.

My better half with my boy in from of the new Volt.

DISCUSSION (14)

E90M3 > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 06:14

7% that’s asinine. It sounds like you made the right choice. Additionally , I thought that newer cars usually got better rates. For example, the one reason I got 5.54% to start on the 328i was because it was 8 years old when I bought it.

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 06:57

You made the right choice! I’m not a huge GM guy, nor am I a huge electric guy (because of the lack of charging networks here in Canada yet, though I know ‘they are coming’), but the Volt has always seemed like a decent and interesting car. There are very few around here! I did see a Bolt the other day, so that was cool - even fewer of them!

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 06:57

Tekamul > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 07:18

Smart choice. Signing on with a b ad rate is always risky.

I started ‘driving’ my excess solar this year as well with a PHEV Outlander. It’s similar to the Volt, in that it is very EV-centric and doesn’t use a transmission, only a fancy differential. Big savings.

Enjoy!

Eury - AFRICA TWIN!!!!!!! > E90M3
07/01/2019 at 07:27

Agreed. The manager I was dealing with laid it all out for me, and I give him credit for that. There is a $1500 rebate, but it is only available if you finance with GM at a higher rate, and he said the the lowest he’s seen is 7% for someone with a mid 700 score. If I were to forego the rebate then GM (or anyone else) would finance at the mid 3s. They must be thinking that people will be lazy and forget to refinance or something. Either way, no thanks. If the rate issue didn’t exist with that rebate we’d be driving the 2019, but I’m too risk averse to sign on the line for something like that, even if I can refinance.

E90M3 > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 07:46

It sounds like it’s a case of they’re get their money either way, with the rebate and the higher rate, they’ll probably get more than financing at 3% without the rebate. Probably because there are a litany of reasons to start with either option and then do something else. Did you look into outside financing? That is one thing I have yet to do when buying a car. I think the next car I get, I’m at least going to look into it.

Full of the sound of the Gran Fury, signifying nothing. > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 07:56

Congratulations on a fine purchase. Like others have said, I’m not a big GM fan, but I really like the Volt. When my dad decided to replace his increasingly unreliable E-class last year I helped steer him into leasing a 2018 Volt, and he’s been quite happy with the acquisition. Like you, he’s charging it off the solar panels, and in the 10 months he’s been driving it he’s put in a total of 12 gallons of gasoline. Well, I put four of those gallons in when I borrowed it and drove 250 miles one day.

If I had a place to charge it and/or had solar panels I’d jump on one of these in a heartbeat. My commute is only 2.3 miles, so I’d probably end up using about as much g as a my dad. My only complaint was how difficult it was to find one without a black interior; that’s something dad and I both hate, and now so does mom since she made the mistake of getting her E-class with black leather. The dealer managed to find one in white with grey leather for dad; it’s the same color combo he had on his previous vehicle, but at least it’s not the same beige on beige he’d been buying for years. He decided to lease his since he figures that the technology will probably improve by a generation when he’s ready to turn it in, and I can understand where he’s coming from.

Enjoy this car - it's a winner.

MasterMario - Keeper of the V8s > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 08:15

Are you planning on doing a review of the Volt at some point? It’s actually on my list of possible next vehicles.

Eury - AFRICA TWIN!!!!!!! > E90M3
07/01/2019 at 10:17

I went in with financing from USAA. The rate they got me was lower with another local Credit Union that I had done business with before.

Eury - AFRICA TWIN!!!!!!! > MasterMario - Keeper of the V8s
07/01/2019 at 10:19

I’ve got a few to write. Volt review, Ioniq impressions, Avalon King ceramic coat review. Just have to find the time. Probably later this week when I’m in a hotel for 20hr.

MUSASHI66 > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 13:11

This works really well for people that can’t get 0% or 2% or 3% rates for cars in the first place. Or, for people buying for cash - they get all of the GM discounts and pay off the loan ASAP after that.

When I was looking at trucks for my dad, they had up to $12000 discounts we could qualify for with GM financing but even with 820 credit score, we’d pay 6.5% + in financing fees. We ended up with a Tundra at 0% and still got plenty of a discount from MSRP.

If you do the calculations, 0% financing at full price on a full size truck, or 7% financing and $12000 in discounts ended up costing almost identical at the end of the 60 months.

BaconSandwich is tasty. > Eury - AFRICA TWIN!!!!!!!
07/01/2019 at 16:57

Congrats!

I’ve been wondering what the second gen Volt is like. You’ll have to post a full Oppo review in a bit.

superdave847 > Eury - AFRICA TWIN!!!!!!!
07/16/2019 at 23:42

I’d love to read a review of this car. Also congrats on a cool car. I think you made the obvious financial decision.

superdave847 > E90M3
07/16/2019 at 23:42

The dealers don’t want you to finance and buy, they just want you to lease and renew.