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Chevrolet Volt Lease Questions

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Comments

  • 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
    Host
    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?
  • mcmaybermcmayber Posts: 7
    This may be redundant from previous post...but I used some of the numbers on this forum to negotiate a lease. The dealership agreed rather quickly so Im wondering if I didnt ask for enough.
    MSRP: $40,270
    Selling price: $37,497.95
    36 month term/ 12,000 miles a year.
    Residual value: 58% or .58
    Rate: 1.05
    Cap Cost Reduction: $4,250
    $335 a month
    $0 down (including tax tag title and dealer fee)
    $335 due for first month (drive off fee)
    2 year/24,000 maintenance package for $200
  • mcmaybermcmayber Posts: 7
    I posted directly after your post. Looks like our numbers are very close. Where are you locared? Im near Charlotte NC. Another post on here got 15k miles per year for 335 a month no money down other than first months payment.
  • pswarpswar Posts: 3
    Looks like both you and mcmayber are getting better deal than mine!

    $335 per month, 0 down for 36 month seems pretty good deal.
  • pswarpswar Posts: 3
    Can you please share the deal you scored for your Volt? Would help us who are in the market to lease Volt.

    Thanks in advance.
  • I'm out of Northeast Ohio. Apparently they are not selling very well up here. They were surprised when I asked about the Volt. :P
    I am heading there today to talk to the Sales Manager. Will report back with details.
  • mcmaybermcmayber Posts: 7
    Let me start by saying I have a family member that works for the dealership I got my Volt from so I got the "Family Discount".

    $337.29 a month
    39 month lease
    1250 miles per month...(15000 a year, or 48750 total miles)
    $0 down (includes tax, tag, title, dealer fees)
    1st payment due upon signing.
    2 Years Maintenance free.
    1 free new car smell....Ahhhhh!
    Only car upgrade was heated seats and leather wrapped steering wheel.

    I think I got a great deal!
  • massvoltmassvolt Posts: 2
    I leased a 2013 Volt (fully loaded--$44,010 MSRP) in early September 2013 for 36 months. I paid all of the lease payments upfront. The Volt is white and in mint condition with only 4300 miles into the 30,000 miles allowed under the lease. It is accident free, has no scratches, dings, and fully under warranty.

    I live in the Boston, Massachusetts area. I am trying to find someone to assume the lease in a one-time payment, and am willing to discount off of the current dealer monthly lease rates (that seem to be in the $330 - $350 per month range).

    Two questions: (1) what is the best way to advertise this lease transfer deal (other than on Craigslist) (2) what is an appropriate discount?

    Thanks.
  • massvoltmassvolt Posts: 2
    Have you checked out Craigslist in the Boston area? There seem to be some attractive lease deals listed there. Also see most recent post.
  • bacchusmbacchusm Posts: 5
    You should try swapalease and leasetrader.
  • redman67redman67 Posts: 1
    mcmayber, what options are in your car, and are all of your fees rolled into your payment? The only thing you had to come up with was the first months payment?
This discussion has been closed.