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Chevrolet Volt Lease Questions

kyfdxkyfdx Posts: 27,921
Ask your Volt lease questions here!

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  • What are the terms for the 2012 Volt lease?

    Thanks,

    PK
  • Has anyone leased or purchase one that can share their experience?
  • Hi dave328. Ally's November base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Volt without Navigation with 15,000 miles per year through Ally are 1.1% and 61%.

    Car_man
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  • Looking to Lease a 2012 Volt with Navigation & Leather Seats.
    What would the monthly payments be with 2500.00 cash due at signing?
    Thanks
    EM
  • You're very welcome dave328.

    Car_man
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  • Greetings to the appropriately named nyprius. If you provide me with this car's MSRP and dealer invoice price I will gladly work up a payment on it for you. You can find this data over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • melrammelram Posts: 14
    Car_man

    Could you give me your opinion on this lease deal for 2012 Chevy Volt. Just got back from the dealer and trying to back into the payments to evaluate the deal. The dealer claims its $1,000 under MSRP.

    $46,165 MRSP (includes $850 for destination charge)
    $1395 Due @ signing
    62% Residual
    12,000 miles per year
    36 month lease
    $579 per month + tax
    (did not get the money factor)
    Lease is through Ally bank

    Thanks for your help
    Mel
  • Thanks for the reply.
    The invoice price is 42,025 and the MSRP is 44,080.
    Thanks
    EM
    As for the NYPrius I have a Prius since 2006 and belong to Priuschat.com
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited December 2011
    Hi Mel. I'm really not all that familiar with what the market is like for the Volt right now. Obviously they were initially going for full MSRP, but they have gotten some negative publicity lately so perhaps they are going for a little less than that now. To me, a $1,000 discount sounds reasonable. Just make sure that the dealer uses Ally's current base lease rate of 1.1% to calculate your payment. Just make sure that the dealer takes the tax credit into account if its still available.

    Car_man
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  • Thanks for the additional information nyprius. According to my calculations, if you were to lease a 2012 Chevrolet Volt that has an MSRP of $44,080 and a selling price of say $43,080 through Ally right now for 36 months with 15,000 miles pr year, your zero down, pre-tax monthly payment would be around $494.

    Car_man
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  • melrammelram Posts: 14
    Carman,

    can you please provide the money factor and residual % for 2012 volt with premium trim package and navigation. Lease would be 36 month/36,000 mile lease.

    Thanks
    Mel
  • basamxbasamx Posts: 17
    Car_man,

    I'm thinking of leasing a 2012 Chevy Volt and using my Calc my monthly payment on a 46,165 MSRP and say a 45,165 purchase price with a 62% residual and 0.00045 Money Factor (1%) would be around $492.72 a month plus tax. I'm trying to get a hold of this Tax Incentive though. If Chevy is rolling the incentive into the lease, wouldn't it be money down? Which would bring the month payment down to $281 a month.

    Otherwise I would rather just apply for the tax credit at tax time and pay the $492 a month and get a $7,500 check from Uncle Sam in 2013.
  • melrammelram Posts: 14
    Basamx,

    I have also asked the same question in the past. It appears the $7500 tax credit is added to the residual price on a lease. My guess is the 62% residual would include your $7500 tax credit. That is how the sales person explained it to me.

    How much money down do they want?

    Thanks
    Melram
  • basamxbasamx Posts: 17
    Melram,

    I called and spoke with a Dealer today. US Bank uses a 43% residual and a 1.32% rate, then adds the $7,500 back in. Ally just uses a 60% residual and a 1.1% rate. Since the Lease company actually bought the car, they take the $7,500, but play with the residuals to give you a small piece of it.

    This kind of SUCKS, because back when you could get a deduction on Hybrids, it didn't matter if you bought or leased the car. Also, I have to figure out how the tax credit plays back into the purchase price at the end of the lease.
  • Here you go melram. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Volt with navigation and 12,000 miles per year are 1.1% and 61%, respectively.

    Car_man
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  • brunofbrunof Posts: 1
    edited January 2012
    Hello CarMan.

    I can't understand how you find the time to do any of this... hundreds / thousands of posts... ???
    My appreciation for this resource and your input is immeasurable.

    Here's the offer:
    2012 Volt Lease MSRP 42085
    Sale Price 40386

    Finance Rebate of 2075

    36 month / 15k per year

    With 2000 OOP cap cost reduction, monthly + tax = $386

    Based on these numbers, residual appears to be 43% (7500 credit added on top of that?) and .00045 MF

    Not sure what his DMV or Doc fees are but I think they may be rolled in. Waiting on buyout.

    Thanks again for all your hard work.
  • 1.1% and 61% -- kind of a screamin' deal, I think. If you lease you don't get the Federal tax credit, but it's baked into that fat residual -- which likely won't be anywhere *near* that high in three years given it's a GM, that other electrics are coming along and that the Federal rebate will likely diminish or disappear.

    I think I might jump on it.
  • Neither do I, neither do I brunof ;) . Thanks :) .

    General Motors just significantly enhanced its lease program on the Volt. Apparently all of the negative publicity that it has received lately has taken its toll on demand. I believe that the cash incentive for leases of this truck through Ally is now up to $2,675. That knocks about fifty bucks a month off of where the lease was before this enhancement.

    Ally's current residual value for a 36-month, 15,000 mile per year lease of a 2012 Volt without navigation is 60%. Unlike U.S. Bank which uses the $7,500 tax credit as a capitalized cost reduction for leases, Ally keeps the money itself and uses it to artificially inflate the Volt's residual value all the way to 60%.

    Ally's current base lease rate for this car is 1.1%. This is equivalent to a money factor of around .00046, as you suspected.

    Car_man
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  • Kirstie_HKirstie_H Posts: 10,837
    If you recently considered a hybrid but decided on a fuel-efficient non-hybrid instead, please email pr@edmunds.com by Friday, February 3, 2011 to share your story.
    Please include your daytime contact information and a few words about the decision you made.

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  • dwynnedwynne Posts: 4,018
    "Cash Incentive" of $2,675? So you get this as a further discount off of whatever price you negotiate and then lease at 1.1% and 60%? What is the residual for 12k miles per year?
  • Kirstie_HKirstie_H Posts: 10,837
    A journalist is looking to speak with anyone who recently purchased a Chevy Volt or a Chevy Cruze. Please send a brief description of your shopping experience and your preferred contact information to pr@edmunds.com by no later than Monday, February 6, 2012

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  • That is correct. There's even additional cash on top of that if you are in California.

    Ally's 12,000 mile per year residual values are 2% higher than its 15,000 mile per year residuals.

    Car_man
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  • dwynnedwynne Posts: 4,018
    The 10k mile per year residual is 64%, I think? One dealer quoted me 1.6% on a 36 month lease and $895 bank fee. Sounds like marking up the money for extra profit? He is offering the car for invoice and rolling the bonus cash into the lease as an additional discount. Also says security deposit required. I have not had to pay one of those since the very first lease I did more than a decade ago. An Ally requirement? He had not run my credit, just given me numbers so the deposit may not apply?

    One big gotcha with an Ally lease is the $2,500 purchase fee. Want the car at lease end or want an early exit and sell the car to a dealer then the fee applies. No turn in fee as far as I know.

    Thanks,
    Dennis
  • jacobmejacobme Posts: 1
    edited February 2012
    Hi,

    I am a daily commuter of about 50 miles and have a montly gas bill of about $200. I am considering a purchase of a used 09' forester or a lease of a Volt with $3,788 down and 389/mo. Any thougths on which is the better banng for your buck as far as true cost of ownership? All of my math points to the Volt as the winner.

    Thanks, Jacob
  • Hi Car Man. I consider leasing a 2012 Volt, 3yrs/15k per yr. MSRP $43,635. Negotiated sale price $41,060.26. If I understand correctly, I use $2675 cash incentive as Cap Cost Reduction to arrive to Net Cap Cost and compute montly lease using 60% residual value and 0.00046 MF?

    Many thanks
  • magicboymagicboy Posts: 3
    Need some help. First time looking at lease and i have not seen the full paperwork yet but i asked for the total cost of a lease of a loaded Volt from nearby dealership. Msrp is $45,250.

    I was told $1000 due at signing
    $399 / month + tax (6%)
    3 year lease at 10000 miles/year

    I drive about 8500 miles a year so thats plenty of miles for me. I asked if there were any other fees and was told that at end of lease bank would charge a $2500 fee on top of residual.

    I dont really car about the residual or that particular fee as i have no plans of buying the car in 3 years. By then they should be on Gen 2 of the volt and there may be good alternatives from other brands by that time.

    Does this sound like a good/fair price or is there something i am missing? Any way they would be able to come down on the monthly price?
  • Can anyone confirm whether a security deposit and acquisition fee is required for a lease through Ally Financial, and their respective value?
    Thank you.
  • phaworthphaworth Posts: 20
    I leased a California 2012 non-HOV Volt over the weekend. They have a great lease program for these models. Mine stickered at $45,070 and it cost $500 to drive off. the $500 is for tax/license/reg and that was it. Payment is $417 plus tax for a total of $450 mo. 3/36 and .25 over 36K miles. They normally use Ally bank but US Bank had a lower payment. By the time my lease is up the next generation will be out and maybe time to buy.
  • what was the negotiated lease price? thx
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