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Chevrolet Volt Lease Questions

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  • venk25venk25 Posts: 2
    Hello hosts,

    Can you please provide the Residual and Money Factor for 2013 & 2014 Volts 12K mi/yr please?

    Thanks!
  • chasm2chasm2 Posts: 2
    edited October 2013
    My deal was supposed to be Ally bank as well.

    Money factor 0.85%, Residual 53%, MSRP 39,995, Net CAP $30,210

    Our deals are very similar except for the extra $9/mo ($351) and $1020. The 12/15k miles, 36/39 month differences seem to balance out.

    What dealer did you use?

    C
  • bigbutrbigbutr Posts: 111
    I got a quote on a 2013 that stickered at just over 43K. Gave me a price of 424 a month on 3/36 with only the 7250 tax credit as a discount on a selling price of just over 42K.
    I asked about the 5K discount and they said you can't get both that and the tax credit, that you could only get the 5K if you agreed to some ridiculous 28% residual. I'm wondering if since it's a smalltown dealer that probably only got one Volt that they don't know you can get both or that they do know and are just trying to keep the 5K for themselves, though I don't know how if they were only discounting the car a little over 1K.
    Told them I 'might' be in touch.
  • kyfdxkyfdx Posts: 29,862
    2013 Volt (w/o NAV) 36mo 12K/yr lease
    0.85% MF and 53% residual.. $7250 in lease cash

    2014 Volt (w/o NAV)
    1.05% MF and 59% residual.. $1415 in lease cash

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • ckmosckmos Posts: 1
    Could you please explain what you mean by "lease cash"? And, how does this relate to tax credit and/or the $5k back from GM? I was just at a dealer and they told me that the $5k rebate was built into the lease interest rate and that you don't get the additional cap reduction - which goes against the posted deals I see here? I have never leased a car before and I thought I had it pretty well figured out until I got to the dealer.
  • kyfdxkyfdx Posts: 29,862
    The lease cash is money provided by Chevy/Ally. You don't get the tax credit, the bank does (which allows them to give you that big chunk of lease cash). The lease cash is applied against the selling price of the vehicle to reduce the CAP cost.. You can certainly negotiate a selling price lower than MSRP, in addition to the lease cash..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Columbia in Montgomery. They had 3 or 4 2013's left on the last day of the month. I took the last dealer demo. I know it was the last day they were leasing the 2013's as the 2014 line is starting to show up. I think they were just desperate to get one off the lot.
  • Hello host!

    Can you please post Offers for November? Looks like GM bumped up Cash Offer on purchase of 2013 by $1000 from $6000 to $7000. Did they bump up Lease Cash too (from $7250 to $8250) :) ?

    Thanks!
  • mung35mung35 Posts: 10
    Just got an e-mail from a dealer that they are only selling and no longer leasing the 2013 inventory. Can anyone else confirm?
  • mung35mung35 Posts: 10
    Second dealer confirmed. No more leases on 2013s.
  • kyfdxkyfdx Posts: 29,862
    It will be a few days before we have the new rates..

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • scrambler4scrambler4 Posts: 2
    edited November 2013
    In case it can help prospective owner of this amazing car, below is the link to a lease calculation Excel sheet I made after leasing our volt in march 2013.
    https://skydrive.live.com/?cid=4BE668230430EFDD&id=4BE668230430EFDD!799

    The sheet includes two tables:

    1) A Direct Calculation table that shows the various lease variable and how they are combined to produce a monthly payment.

    When you know the key variables (in yellow) you can simulate different leases by trying different money down, APR, dealer discount etc... and therefore find out what conditions you would need to get to a certain lease payment.

    That table is prefilled with the numbers I got for my lease with Ally in March 2013.

    Of course, you usually cannot get all that information upfront from the dealer. There are many items a dealer won’t tell you about that will influence the lease. So the sheet includes a second table.

    2) A Reverse calculation table, to figure out some numbers based on a few key elements that a dealer will give you when you ask. This table allows you to figure out elements such as dealer discount or miscellaneous upfront costs.

    Once you have these, you can use the first table to see how much more money you need to put down, or how much more discount you need to push for, in order to get below a certain monthly payment.

    When Asking a Dealer for a quote, you would give him
    • The model / options you want
    • The duration of the lease (ie: 36 mth)
    • The mileage (ie: 12,000 miles)
    • The money you are prepared to put down. IMPORTANT tell him this has to cover ALL upfront costs that must be paid. If not some dealers will leave aside some fees that they will add at the last minute, increasing the initial “money down” amount you had mentioned.

    With these elements, the numbers you need to insist on getting are (and that I found they will usually provide if asked):
    • MSRP
    • Lease incentive
    • Capitalized Cost Reduction
    • Adjusted Net Cap cost
    • Residual value
    • APR

    These will allow you to figure out the dealer discount (you need to assume some lease fees) so you know if you are getting a deal, as well as the miscellaneous Up Front costs.

    Hope this helps
  • Hi Kirani:

    Can you please send me the details of the dealer privately to my email address? I am interested in the deal.
  • MichaellMichaell ColoradoPosts: 6,418
    Please do not post contact information for dealerships. Post deleted that contained this information.

    Regards,
    Michaell

    Host, Prices Paid

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  • Kirstie_HKirstie_H Posts: 10,902

    Please continue in our 2014 Chevrolet Volt Lease Questions discussion.

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