After 3 year Lease My Chevy Volt Is Basically Worthless

all right it's been three years and I've kept you up to date about my Chevy Volt and now I had a three year 39 month lease on it turns out I only had ten thousand miles a year so I or whatever eleven thousand miles a year whatever it is I ended up getting thirty three thousand miles at 32,000 miles included I've exceeded that slightly not a big deal it's like 10 cents a mile or something like that so it'll be so it's a hundred bucks every thousand miles that's not critical but the car has weathered a bunch and when you come to the end of a lease you have the option to either buy it release it extend the lease purchase it and there's different ways of handling it now a lot of people a lot of people try to get into the car for the lowest payment possible and they end up painting themselves in the corner doing like an ultra low mile lease right cuz now you've got an ultra low my elise you blow way through the miles and you're stuck you backed yourself into a corner that you have to buy the car cuz you're at 70,000 miles you have to be realistic when you get the car I was pretty close if you look around the car it's got that means standard things this is new this really annoys me this is what happens when you live in an apartment like I don't know where this came from but that's a pretty good shot this scratch here whatever it is this key mark I this is from somebody turning and hitting my car I guess it's just this little stuff this has got to be from me loading something into the car but this all falls under there's a a line item on your lease it's usually like five hundred eight hundred dollars that they tack on at the beginning of your leaf to cover stuff like this and I'll let you know when I do return this what that ends up costing me in the end here's a little mark yeah but they're the car other than the accident on the car that's a nice thing about leasing a car is that you don't have to worry about the diminishment of value because of the accident cuz it's not yours it goes right back to the insurer are to the bank and it's and this has got some scraping down here it does become the bank's problem and it's not the dealerships problem it's the bank's problem you can literally return a lease to any chevy dealership you just call and schedule a return the only other thing I have on this car that I'm aware of is the bubble on Lavery your tire when you look at this car it's reasonable condition it's it's I've done exactly what the bank projected for me to do I've done my mileage plus a thousand which is which is consistent and then I've literally had a worry-free experience or a trouble-free experience I've spent zero on maintenance on this car other than the one I'll change which I just didn't time right I think they gave you two years of maintenance included and I went in after like 25 months so I had to pay for the oil change so you're only talking about say $100 in fees for me to to own this car for three years and I got this car at a super great deal I paid two hundred and seventy three dollars a month for this car and two hundred seventy three dollars a month no money down it was sort of a no-brainer now that came because the bank gets the tax credit for buying the car so that reduced the amount and I was able to get into this car all taxes and fees for 273 a month now when I came to the decision as to whether to buy it release it they want like four hundred and fifty dollars to finance this thing for five years the balance on the loan is nineteen thousand dollars remember was a thirty three thousand dollar car and I was like wow that's that's too much I'm not gonna increase my payment for a used car I'll just how much for another one four hundred and fifty dollars a month for a new one because the tax credits have expired or whatnot or whatever the incentives are that's a no-go too so I'm like you know what let me look what it's worth if it's worth take twenty five thousand dollars in the buyouts nineteen maybe I'll just buy it the things are worthless these cars at auction with like twenty seven twenty eight thousand miles but selling for thirteen grand there's no way I'd buy this car there's like this I'd be the dumbest person on the planet to either continue to lease this car or buy it I'm going to dump it into the dealership and make it the bank's problem and why is a roughly a twenty five thousand twenty eight thousand mile twenty seventeen Chevy Volt worthless I don't know I think it's a pretty decent car it's there there's no way around it and I really enjoyed this far as a daily driver I mean I thought it was a very practical reasonable car my cost of fuel was reasonably low obviously lower when I first got it because I was relying more on the battery as life went on I stopped plugging it in as much but I still had that option to fill it up it gets 40 miles to the gallon it's literally eighteen dollars to fill the damn thing up and go 400 miles so I'm really happy with the practical nature of it but I just can't see doing anything other than turning this car in so it goes back in a couple of weeks I think eight weeks from now and sayonara see you later I'll let you know how that goes I may go out and buy another one at auction for 13 grand that may be the smartest play but this sucks to be the bank the bank is now well underwater in this car they and even all the interest I paid to them for this car doesn't make up for the fact that it's worth significantly less than the buyout now I'm in the market for another daily driver I don't know what it's gonna be I enjoyed the bolt maybe for 13 grand I'll just go get a pen fed loan or something like that scooped up another one but the other option is I can assume somebody else's lease which I may do because there's still people out there with two years left on their lease at 273 a month I'm really happy with a daily driver at like 250 270 a month anything beyond that I think is sort of a waste I'll shop for Tesla's maybe the model 3 that $35,000 one is out I'll see what that cost if I can get a 5 year loan on that through pen fed and and that ends up being 400 bucks a month 300 bucks a month Tesla's I think hold their value I don't know how many they're pumping out or what's gonna ultimately happen with the model threes but I think it's worth the risk to to buy that I'm really happy I didn't buy that because if I lost all that money on this car be really bummed about it if I bought it for $32,000 and within three years it's lost sixty five or seventy percent of its value that sucks and there's something that that the aftermarket doesn't like about the Chevy Volts but again it's not my problem it's the bank's problem thank you for watching and stay tuned I'll let you know what I end up getting and what the dealership ends up charging me when I turn this thing in hopefully it's not killer the dealership loves to hang stuff over your head to try to get you to release the cars but hopefully I can navigate my way around that see you tomorrow for those of you not familiar with my other company I started the company called adventure drives which combines driving and bucket-list travel it's a lot of fun our next trip or off to Europe in July if you're interested prices can be done per person it's don't worry if you don't have somebody to go with you we can match you up with somebody you can check the link in the description for adventure drives comm and sign up today [Music]

Channel: superspeedersRob

Views: 324,546

Rating: 4.7291012 out of 5

Keywords: superspeedersrob, super speeders, rob ferretti, super cars, exotic cars, the smoking tire, thatdudeinblue, motor trend, corvette, street speed 717, tj hunt, ford gt, supra, cars, 1320video, cops, police, cleetus mcfarland, vehicle virgins, fast, review, rally, mercedes, tavarish, vinwiki, gotham dream cars, gotham, exotic rental cars, what happened at gotham, new company, doug demuro, ferrari, lamborghini, gumball 3000, gold rush, business

Id: Pco0CRwslDs

Length: 8min 1sec (481 seconds)

Published: Mon Jun 17 2019