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Chevrolet Volt Lease Questions

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  • Yesterday, i was offered a 15k mile lease with $2599 down for $381/m. This would be my first lease. Does this sound about right or should i shop around more? Thanks so much
  • heb80heb80 Posts: 1
    Carman,

    Do you have the residual, money factor/rate, dealer cash, and dealer contribution for the current advertised lease on the Volt?

    36mo, 12k miles/yr, $2419 down, $299/mo

    Thanks.
  • tschaitschai Posts: 14
    Current lease rate for US Bank on a 36m 12k/yr Volt with Navi. Should be the same without Navi. Subtract 2% for 15k and add 1% for 10k.

    1.32% or .00055 MF Residual of 44% + $7500

    Current lease rate for Ally on the same term and mileage.

    1.05% or .0004375 MF Residual of 58%

    Both US Bank & Ally have $2820 lease incentive and there's also a GM $1000 Private Offer cash for current/previous GM owner. Ask your dealer to check your address if there's one in the database under your name/address.

    There's a cap of $43805 on MSRP when figuring the residual. So if your Volt is $45k, the bank will only base the residual on $43805. This makes the MAX residual for all Volts at $26,774.20 In another word, for the best deal on a non base model, option your Volt as close to $43805 as possible.
  • dpw1dpw1 Posts: 3
    So if I'm looking at a 43850 msrp 36 mos 15k. 2300 due at signing what do you think a good monthly lease would be. Tax in my state is 6% on lease payments
  • for sorta close comparison sake, this is what i got for a deal that i think i'll sign today:

    $2700 down, 36m @ 15k miles for $399/m including sales tax of 6.25.

    hope that helps.
  • WZ40FT:

    - Agreed selling price after incentives/promotions applied ($36,755)
    - Residual (Original Residual, 43%; Adj. Res: 45%; Net residual of 63.752% after $7,500 credit)
    - Lease APR (Not sure of this exactly but it was less than 1.4%

    The promotion that I used expired on the 2nd of January but looks like a very similar offer is still available. Good luck.

    http://www.heiserchevroletcadillac.com/Special/new/2013-Chevrolet-Volt-5dr_HB-18- 91927983-$235mo/36mo_Lease_13_Volt-West_Allis-WI/16862740
  • Here you go tschai. Ally's January base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Volt with navigation and 12,000 miles per year are 1.05% and 58%.

    General Motors is providing a $2,820 cash incentive on leases of this car through Ally.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi dphillipsjr. It would be easier for us to evaluate this deal if you were able to provide us with this car's MSRP and selling price. These numbers would show us how large a dealer discount you are being given and in turn if there is any room left to negotiate.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi heb80. Ally's January base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Volt without navigation with 12,000 miles per year are 1.05% and 59%.

    GM is currently providing a $2,820 cash incentive on leases of this car through Ally.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • cad14cad14 Posts: 2
    Looking to lease 2013 Volt with following options:
    Premium trim Package
    Comfort Package
    Enhanced safety Package #1 and #2
    Navigation
    MSRP: $44225

    36month with 10k a year. (Orange County, CA)

    What will be the best
    Money factor and residual for this car? Best selling price if possible?
    Thanks.
  • Money factor a A+ credit score through Ally starts at 1.05% or .0004375 and up depending on credit. Residual value on that car would be about $25,650 regardless of price paid.

    There is an incentive from Chevrolet for 36 month lease of 2870. The 7500 tax credit from the US Gov goes to Ally. The give it to you in a raised residual which lowers the payment. Highly doubtful you will want to buy at end of lease unless the market value in equal or greater than the residual value. I would say 1,000 discount plus the chevy incentive called CCR is sufficient for price, and a rate of 1.05 to 4 would be fair depending on credit. Good luck and have fun. It is a great car.
  • Been poking around trying to learn about leases, but it did not seem to help when I got this offer on a 2013 Volt today. Is this a good deal or not?
    MSRP: $43,645 (Premium Trim, Nav, Bose, Sport Wheels)
    Residual: 56% / $24,441
    Selling Price: $42,300
    Rebate: $2820
    Driveoff Due: $5000
    Capped FeesAdds: $1122
    Cash Cap Reduction: $4077
    Adjusted Cap Cost: $36,525
    Term: 39 months 12,000 mi/yr
    APR: 1.05%
    Total Taxes: $1623
    Base Monthly Rental: $336.93
    Monthly Payment: $364.22

    Thanks for any help anyone can provide.
  • Just leased a 2013 Volt. Sticker price 43155. 3yr. 12000 mile term. Put in 2050. total out the door cash including DMV charge. 325.00 per month. All I had was the 2850. lease incentive from ally and 1000. from the GM card. The remainder was dealer discount. 14221 zip. Western NY. By the way, if you don't know, the charging station is 490. plus installation if you can't do it yourself.
  • Could anyone provide me the February Lease rates for a 36 month lease (12k and 15k) w/o navigation? I'm looking for both ally and US Bank (who has a $2820 CCR right now). Thanks!
  • jaycee87jaycee87 Posts: 1
    edited February 2013
    looking to lease a volt and was curious to know what others think about the current lease deals.

    $299 36m 12k miles
    $2419 due at signing

    are these numbers typically negotiated lower?

    thanks
  • ramsvramsv Posts: 1
    Car_man

    Need your help. The lease deal I got is as follows - let me know if this is competitive

    MSRP: 44,705
    Period/Miles: 36/36k
    Down:2,120
    Drive-off: 3,346 (includes tag, tax etc.,)
    Monthly: 408 including 6.375% tax

    Thank you and appreciate your help
    Ram
  • Hi leepoffaith. Ally's February base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Volt without Navigation with 15,000 miles per year are 1.05% and 55%.

    The numbers for an otherwise identical lease through US Bank are 1.32% and 40%.

    If you were to lease with only 12,000 miles per year, this car's residual values would be 2% higher.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Remind us, does Ally's residual include the $7500 tax credit? Does US Bank add it to the residual afterwards? Thanks!
  • Hi Ram. It would be much easier for me to evaluate this deal if you were able to provide me with this car's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is more difficult to tell how large a dealer discount you are being given and in turn if there's any room left to negotiate.

    Let us know what this number is and I'm sure that either myself or another community member will tell you what they think.

    For now I can tell you that a little over two grand is too much money to put down on a lease. If your leased vehicle is totaled in an accident or stolen and never recovered you are at risk of losing any money that you put down.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi bromion. Ally's residual value percentages definitely have the tax credit baked in. From the looks of it, US Bank's residual values do not. If that is indeed the case, chances are the tax credit will be applied on a leases through it as a cash incentive that would reduce the capitalized cost.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • deaddogdeaddog Posts: 11
    I'm looking for moneyfactor and residual for 24 month lease from Ally or USB - 12K miles/year. Also, it looks like the State of Illinois 10% up to $4000 rebate does NOT work on lease deals? Anybody know this for sure? Assuming that you had the cash to buy and only wanted to keep for 2 years, would you buy (and get the 4K rebate) and suffer the depreciation or lease?
    thanks
  • gregdole7gregdole7 Posts: 14
    Carman,

    I too would like 24 month lease numbers from Ally and USB including CCR for 12k and 15k a year on the non-navi model.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Ally's current base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Volt without navigation with 12,000 miles per year are 1.05% and 59%.

    General Motors is not providing any support on 24-month leases of this model and as a result, you definitely do not want to lease one for two years.

    There is a $2,820 cash incentive on leases of this car right now.

    Illinois is notoriously expensive when it comes to the sales tax that it charges on leased vehicles.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gregdole7. I haven't seen the US Bank lease program yet, but I can look into it for you. Ally's current base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Volt without navigation with 15,000 miles per year are 1.05% and 57%.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    GM is currently providing a $2,820 cash incentive on leases of this car through Ally.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • deaddogdeaddog Posts: 11
    Thanks Car_man. Do you know if the dealer can use the $2820 lease cash towards a purchase? Or are there current purchase incentive/rebates out there?
  • gregdole7gregdole7 Posts: 14
    edited March 2013
    Thank you kindly, Carman.

    Look forward to seeing the US Bank numbers.
  • deaddogdeaddog Posts: 11
    Dealer says only incentive is a $3000 rebate which requires me to take the 48 months 0% finance deal with no prepayment penalty. but offering me $4100 below invoice per edmunds on car that is $42,435 invoice, 44,545 msrp. Something is mot adding up - either edmunds invoice is wrong or there hasto be more rebate money because he isnt going to sell at a true loss. So, anybody know the real story?
  • We negotiated a 1k total drive off and $358 / mo including tax for a 15k/yr 3 yr lease on a Silver Topaz with leather package and safety 1. No other fees, no disposition, no buyout fee above purchase price. We're happy with those numbers. The buyout number, however, is $30k. Salesperson claims this is through USBank. Should we worry about buyout number, i.e. I'm assuming this can be renegotiated at the end, especially if we're willing to walk away at the end of the lease. This is my first time leasing; I've always purchased in the past.

    Also, was surprised to learn that Nav wasn't necessary on this lease because it comes with 3 years free onstar, which includes Nav. This is free nav for the entire 3 year lease (great for when smart phone is already in use)

    Any thoughts on this deal?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Good question, deaddog. No the cash incentive that is available on leases is not available on purchases...however General Motors is providing a $2,000 cash incentive on this car to consumers who finance it through Ally at 0% for up to 6 years. That's a very attractive offer.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • joncab5joncab5 Posts: 8
    You have a great deal. Dont forget to get the $1,500 California Clean Care Rebate.

    I leased one too and who cares what the residual will be as this car is not worth owning as in three years the technology should hopefully be better. I love my Volt....and it was done through Ally Bank.
This discussion has been closed.