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Chevrolet Volt Lease Questions

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  • datanmotiondatanmotion Posts: 1
    edited March 2013
    waterman9 - I've been looking for just this sort of deal and knew that it could be had elsewhere (friend of friend got even better deal some time ago), but I'm in Hawaii and discovering the rules here may differ from he mainland. For example, taxes on leases are treated differently and less favorably here. We'd pay a use tax on the cap cost of car, not on the lease payment. At least that's my understanding.

    Considering the markup I've seen here, one option is to purchase/lease the car in Cali and ship to Hawaii (c. $1100). So far it looks like HI prices would more than make up the difference and I could use a mainland trip for business as well.

    I would certainly be interested in talking to the dealer, or (aimed at other readers) any other dealers that are willing to take a similar offer.

    Mahalo!
  • gregdole7gregdole7 Posts: 14
    Carman or others,

    Can you verify if there is $1k in conquest cash on volt leases or purchases?

    Thanks
  • deaddogdeaddog Posts: 11
    There must be significant rebates out there that are not being disclosed - I have two dealers offering below $38,500 on cars with msrp of 44,545 using the 0%/48 mos -- both in Illinois.
  • gregdole7gregdole7 Posts: 14
    Interesting, deaddog, I can't get to that number even calculating 3% holdback.

    Is there some sort of state incentive in IL the deal could be adding in?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gregdole7. General Motors is providing $1,000 conquest cash on the 2013 Chevrolet Volt right now, but it is only to people who are currently leasing a non-GM vehicle. It does not apply to people who own or are financing their cars.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I think that GM is providing an extremely attractive 0% financing for up to 6 years plus a $2,000 cash incentive on the '13 Volt right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • volt_confusedvolt_confused Posts: 1
    edited March 2013
    Hi! I have read all the post from the past 2 months on the Volt. We are building out a new 2013 Volt as the dealership doesn't have what we want. Being concenrned about the changes in technology we were wanting a 24 month lease verses a cash purchase. But never having leased before, not sure how to handle negitiations when we go back to sign order, or what lease variables we should be considering.

    Since we are new to the EV driving should we reduce the $895 NAV option and others to get the the max CAP rate mentioned? We are not planning on buying this lease out at end.

    Dealer has negitiated price to $41036 plus TTL. We want We are currently offered the following:

    2013 Volt $44,170*
    MSRP1 from $39,145
    Destination Freight Charge $850
    Options
    17" 5-spoke polished aluminum wheels $595
    Premium Trim Package Remove $1,395
    Enhanced Safety Package 1 Remove $575
    Chevrolet® MyLinkTM radio with navigation $895
    Premium Bose® Energy Efficient Series sound system Remove $495
    Premium all-weather floor mats (Dealer-installed) Remove $110
    All-weather cargo mat (Dealer-installed) Remove $110
    Options Total $4,175
    Total MSRP $44,170
    Price $44,170*
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi volt_confused. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    I just looked at the available lease programs on the 2013 Volt and I don't think that GM is offering special leases on 24-month leases of it, only 36-month terms. If you want to lease one, you're probably going to have to go with a 3-year lease.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi,

    Looking to lease 2013 volt soon and worked with a local dealer recently on the following deal (was wondering if someone can do a sanity check on that):

    MSRP - $44,120
    36mo, 36k
    MF - .00044 (1.1%)
    No cap reduction (no money down)
    Car offer price - $41,658
    Residual - 59% (is this right for 12k/y 36mo currently?)

    Dealer's offer: $444/mo (my numbers come to $419 or so)

    Does anyone know other fees charged by dealer? Document fee is $80, I believe, there is lease acquisition fee of $595 (I think), plus tax and registration fees.

    Dealer claims 2 advertising fees are due in North CA each is $421 (so total $842), sounds strange to me, but I'm not familiar with Chevy leasing. If I add $842 to my calculations, I can see how dealer came to $444/mo. This of course includes incentive of $2,820

    Any feedback on the deal and current leasing conditions would be appreciated.

    Thanks!
  • freeman3freeman3 Posts: 3
    Not a bad deal. I leased a volt in San Diego for 39 months/12k miles, $284/month tax and everything included, $3000 down. Got my $1500 california rebate back so esentially $1500 down. I love it!!
  • I actually ended up leasing from another North California dealer (Putnam).

    $398/mo (includes lease return insurance for any excess wear/tear)
    36 months, 12K per year
    No money down
    MSRP of the car $42K (Premium with polished wheels)

    Have been enjoying 95% gas free driving for 2 weeks now. Just finished self-install of Voltec charging station.

    Good luck!
  • couchman57couchman57 Posts: 13
    Car_Man: I come to you again to review options for a loaded `13 Chevy Volt with an MSRP of $46,040 loaded with every available option including special white paint, nav, leather, rear-view camera, polished wheels. Looking to calculate a monthly lease payment with the following info:

    > Money Factor
    > Residual
    > Discount off of MSRP
    > 45k miles
    > 36 months
    > No $$ down
    > Tag, title, dealer fees: $1k

    There bigger question/issue is application of the $7,500 tax credit and how it applies to a lease in Georgia, if at all.

    As always, thank you for your help and any additional negotiation points that I could use with this vehicle is appreciated.

    - Couchman57
  • dutkodutko Posts: 1
    edited May 2013
    I'm about to lease one in LA. What kind of rebate are you talking about?
  • shouldiwaitshouldiwait Posts: 10
    I was offered from a few dealers for a base Volt with only first payment and tax/license as drive off cost for $290/mo + tax, 15k per year. There's so much rebate on this car like $3000 from GM, $1000 conquest rebate for current non-GM lessor, $7500 fed tax credit, and CA rebate too. I am sure I can do better by $20/mo.
  • moolmanmoolman Posts: 122
    Hello, long time member and this is the 4th lease that I have done in the past 10 years with the help of the Carman and the folks here.

    Let me first start off by saying, if you search my previous posts where I leased Lexus vehicles, I've calculated leases to the final cent, finding out the money factor, multiple security deposits to get the MF down, residuals, etc, etc. I can calculate a lease payment to the cent with a hand held calculator but then that's a lost skill because now they have lease calculators you can download from the app store....haha..

    This is the first time in my lease experience where I negotiated for a lease on monthly payment and down payment. I do not recommend this normally, anybody who negotiates on monthly payment and down payment and not on actual lease numbers, like residual and MF is going to get ripped off but if I do say so myself, this isn't my first rodeo and I know what I'm doing.

    Here's the basics of my deal. I did not trade in a car. I did not buy an extended warranty. I did not buy accessories. I did not buy anything else, nothing, nada... there's no where, where they made money on me. People post great deals on cars and fail to mention that they traded in a car and took a 2000 loss or they bought 2000 of accessories or window etching, then of course they get a "good deal" on the car.

    2013 Volt
    MSRP: $43950
    36months/15,000 miles through US Bank.
    $339 + tax
    $0 down, I paid nothing down, nada, not even title, tax, acquisition fee, nothing. Everything was rolled into the lease payment.
    I paid the first month's payment on drive off, nothing else, not a penny more.

    I qualified for the $1000 lease conquest rebate since I was leasing a Lexus.

    This price seems to be only possible in 2 or 3 SoCal Chevy dealers that it. I tried to get others dealers closer to me to match it but it was a no go. From what I understand, some really high volume dealers get a bonus rebate from Chevy for selling a ton of Volts, so the high volume guys can do prices that nobody else can.

    Good luck everyone.
  • sussansussan Posts: 17
    I am currently leasing a 2010 Prius which I am paying $218 inc. tax with $1500 total drive off.
    My lease will be due in two months and I am looking to lease a Volt.

    I went to a local dealer and they quoted me $299/mo with $2500 drive off and 12k/Yr. I think
    I can do better than that, so I need your help. What are the best lease terms in Los Angeles area?

    Thank you.
    Susan
  • foferfofer Posts: 1
    I'm also in the market for the same car, in Los Angeles area, so quite curious to hear any answers to sussan's question.
  • freeman3freeman3 Posts: 3
    I don't know the LA market but I leased my Volt in San Diego at Courtesy Chevrolet. I'm paying $284/month including taxes, 39 month lease. Drive off was $3000, $1500 of which I got back on the California rebate, and 12K miles/year. I leased at end of the month where they were willing to give a good deal to make their sales quota. Loving my volt!
  • moolmanmoolman Posts: 122
    I just posted my deal before your post, it was the best deal I could find in the LA area. Good luck.
  • moolmanmoolman Posts: 122
    The LA area dealers are giving a better deal just because the volume is higher here. My deal posted above didn't include the $1500 rebate which I'm still expecting to get in the mail hopefully. FYI, the cvrp fund just ran out, they are expecting more money but who knows. Look at the website, their funding is at $0.

    When you post numbers, especially for leases, it's best to post the MSRP of the car you bought and mention if you had to buy any extended warranties, options or had a trade in, it gives a clearer picture of what you paid.
  • rahulmrahulm Posts: 1
    Hi All:
    I have been reading this thread and it has been very helpful, however I am still a little confused. I am looking to go lease a Volt soon. I am in NW 'burbs of Chicago. My questions -
    1. When leasing, do I negotiate the federal tax credit from the price of the car.
    2. Is anything other than the sale price negotiable or is it fixed by the bank (money factor/ residual value etc)
    3. Any other advice would be helpful
  • sussansussan Posts: 17
    Hi Moolman,

    Thank you for your post. Most of the dealers claim they are the high volume dealer. Can you name the ones that gave you a good deal?

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Couchman57. On lesses, the $7,500 tax credit goes to the bank, not the lessee, because the bank technically owns the vehicle. Ally, or whichever GM captive finance company you lease your Volt through, pockets the government tax credit and uses it to artificially inflate the Volt's residual value...lowering its payment.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings rahulm. On lesses, the $7,500 tax credit goes to the bank, not the lessee, because the bank technically owns the vehicle. Ally, or whichever GM captive finance company you lease your Volt through, pockets the government tax credit and uses it to artificially inflate the Volt's residual value...lowering its payment.

    Dealers are sometimes allowed to mark vehicles' money factors up. I doubt that would happen on a Volt, but I suppose that it's possible. Other than that, the main negotiable aspect of your deal will be the vehicle's selling price.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • moolmanmoolman Posts: 122
    Well, I don't like advertising who I bought from because you never know what will happen when you go in to get the same deal. All I will say is just google it, it's not hard, it comes up pretty quickly, there's like 2 dealers at least willing to deal on the Volts.
  • 96jagman96jagman Posts: 1
    I'M LOOKING TO LEASE A VOLT IN THE SUBURBS NORTH OF CHICAGO. ANY ADVICE? ANY SUGGESTIONS? IS THE TAX REBATE STILL $7.5K? HOW MUCH DOES GM REBATE? 36 MO VS 39 MO? HAS ANYONE RECEIVED A GOOD DEAL? WHERE?
  • agentdebagentdeb Posts: 1
    edited June 2013
    Hello,

    Reading through the posts and I have not noticed any posts from the New England Area. My husband and I are considering leasing a 2013 Volt. The one he is interested in has a MSRP of about $43K. It has safety packages 1 & 2. We are looking to lease for 36 months with 15K miles per year. We did see a lease special on the $39,995 MSRP $2399 down not including tax, title, insurance with 12K/year for 36 months for $269/mo When we go in, they are telling us that is the ONLY model they have lease specials on and then quote us ridiculously high monthly payments and money down. Any idea best lease on what we are looking for? Any specials you know of? How to negotiate?

    Thanks so much for your help!
  • ericflericfl Posts: 6
    I don't suggest putting money down on a lease. There's no point in doing it other then buying down your payment. The deal I got a couple weeks ago on a loaded 2013 with upgreaded paint came out to 360+ per month but I had a trade-in so it made the deal slightly more complicated because I wanted cash back for my trade. In order to make the deal the dealership gave me way above appraised value for my car and used the extra to "buy down the lease". My advice to you is to do everything over the phone with the dealer. That removes a lot of pressure on you and forces the dealer to make the deal while you're sitting at home at your kitchen table. Just look through these posts and find the car that most fits the one you want to lease and you'll get a good idea of what deal can be had. Once you have a realistic number in mind ask the dealer to match it. Get more than one dealer involved and you might have an easier time.
  • pswarpswar Posts: 3
    What do you guys think about following for a base model?

    MSRP is $40,055.
    Lease Monthly Payments with all Taxes and Fees $298.73. $2,000 Drive-Off.
    36 Months, 15,000 miles per year.
    $23,922.55 Residual (Price to buy at the end of the lease). $395 Disposition Fee at the end of the lease if you choose to walk away from the car.
  • I have been negotiating with a dealer and the current deal I have is as follows:

    MSRP: 39,995 (Base)
    Cap Cost: 32,000
    10k miles/year (0.20/mile overage)
    36 months
    Money Factor: 1.05
    Residual Value: 23600

    My Cost: (Payments include Tax, License, and Fees)
    Down Payment: 0 Monthly: 319
    Down Payment: 1000 Monthly: 290
    Down Payment: 2000 Monthly: 261

    Additionally, he said that to upgrade to 12k miles per year would be $8 more per month. (Did not go into details)

    Does this sound like a reasonable deal? Should I try to court other dealerships?
This discussion has been closed.