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Chevrolet Volt Lease Questions

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  • mwfromva75mwfromva75 Posts: 4
    edited July 2012
    OK folks. I am supposed to go Saturday to sign papers, but this lease deal is starting to seem fishy, especially comparing to others, please offer input!

    MSRP - $45740
    PRICE - $43982
    Money Factor - 1.5% (I thought it was 1% but he said that's only for the advertised $39995 model)
    Residual - Approx $28542 (when I did the math it came out to 62.4%)
    VA charges 3.19% sale tax (off of sale price of $43982 - about $1410)
    Acquisition fee of $795 (where did this come from??)
    Security Deposit of $400
    Dealership processing fee - $379
    DMV fees - approx $60
    Capital Cost Reduction of $5045

    I qualified for top tier credit.

    I am putting about $2600 down on the lease and the payment came out to $393/mo.

    I know this is the top of the line model (with an extra $1k for paint...it's the only color they have that I like), but $393 AFTER $2600 down seems like a bit much to me.

    Thanks in advance for any input!
  • vaguy79vaguy79 Posts: 13
    I heard the CCR has been upped to 5045 and the residuals remained the same. However, are the security deposit and first month waiver still in effect?

    Thanks
  • No. According to the 3 dealerships I talked to today, Security Deposit and First Month is the only things due at signing.
  • Blk w/pol. wheels, mylink,bose,leather,camera/park assist
    43275 msrp
    40775 sale price
    -4445 ally cap reduction
    -60% residual
    1% apr
    $375 down (lic and title fees)
    $327/month for 35 months
    No sales tax here in OR. Woop! Woop!

    Thanks ya'll for the info share...saved me about $1700 from dealer's first pitch...and I love this car!! I'll be back in 2015 to buy gen 2.
  • vaguy79vaguy79 Posts: 13
    I see Chevy is offering a 24 month lease now. Car_man do you know what cap reduction Ally is kicking in, the lease rate, and residual is for a 24 months lease?

    Thx
  • I am looking at a 2012 Volt with an MSRP of $43K from a dealer in Dallas. I am confident that I can get him down to $41K. Any feedback on what kind of lease I can negotiate if buying in the next 7 days given these variables? My credit score is > 800 if it makes a difference.
  • tridacnatridacna Posts: 1
    I believe the MF is multiplied by 2400 to get the interest rate.
  • iggsoiggso Posts: 28
    $42,085 MSRP
    Zero out of pocket $324 per Month for 36 months.
  • Did you trade in your current vehicle? Not doubting your numbers but they just don't jibe with what I've seen in TX. I have friends that are savvy car buyers that have leased here and in LA and none have seen the sub-$400 deals referenced on this form. Even if I plug in 60+% residuals and 1% APR - neither of which are currently available in TX via Ally - the numbers are well higher than what is referenced here. Just curious where you live and how you are getting such an incredible deal.
  • eecpeeecpe Posts: 1
    Hey there fellow Orygonian! Can you direct me to where you got this deal? I have been looking around near the PDX area and I have received some really varying quotes - differences came from dealer costs and add-ons.

    Thanks!
  • orbm1orbm1 Posts: 3
    edited July 2012
    I am about to close on a Chevy Volt, with premium package (no navigation). MSRP $42,415

    I have been offered:

    $1,200 down incl title, plate, and reg)
    $306 incl taxes per month
    24 months
    15,000 miles per year
    I was told the money factor was 1%
    Residual 67%

    What do you think?
  • good to know my deal is still decent 3 wks later. more time will tell though as it seems likely the deals are really going to sweeten up come aug-sept as the model year closes out after a slow start to yearly sales goals and now a spluttering economy. July's 24 month lease may be a taste of what will come... I'll call shenanigans when Ally roles out a 12 month lease with the tax credit applied such that some of us get to drive a Volt free for one year. :sick: So, stay dispasionate and don't settle with less than a great deal now.

    while the variation in deals between local lots at any given time is small relative to level shifts that might occur over the next two months, which local dealer will deal best varies as a function of current and pipelined inventory, where the sales staff is wrt end of month/quarter sold unit goals, etc.

    my dealer is in pdx area, so you should do at least as well by pitching to the one with the highest inventory in the fourth week of the month. be willing to walk away and if they don't later call you back with acceptance, I'd just repeat at end of Aug and again in Sept. given the dark clouds on the economic horizon.
  • iggsoiggso Posts: 28
    edited July 2012
    No trade. The lease is only 10,000 miles. East coast.
    Volt includes 36 months premium onstar - which is a nice value.
  • Does anyone have credit score info about the cut-offs for the best Volt lease offers (through Ally), and their minimum credit scores to secure a Volt lease?
  • I learned a lot from this forum so wanted to share my experience. Thanks!

    2012 Volt with Navigation, Park Assist/back up cam, and Premium trim package
    36 month 12,000/year lease

    MSRP on my options: $45,683
    Actual Purchase Price: $43, 124 (Total Confidence Price per https://www.gmsupplierdiscount.com/ip-vpp/ )

    Residual: 59%
    Money Factor: 1%
    Lease Fee: $695
    Tag Fee: $118
    Doc Fee: $200
    Cap Cost Reduction From Ally: -$5,045
    Money Down: $0 (I paid $847 to cover a refundable deposit and first payment)

    Monthly Payment: $386 ($422 with Virginia sales taxes rolled in)

    I love the car and my commute is about 30 miles round trip so I will buy hardly any gas for three years. Also, came with three years of Onstar and 6 months of sat radio free. Be sure to call your utility company as well as SPX Home Charging (https://homecharging.spx.com/portal/) to see if there are incentives in your area. I was able to get the charging station completely free including installation.
  • ven88ven88 Posts: 1
    Hi all - has anyone found a good Volt lease deal in Ohio recently?

    Many thanks!
    Jonny
  • orlemorlem Posts: 2
    We are looking at buying a 2013 Volt and I went in and test drove one. Love it. Spoke to the dealer about leasing options. I drive around a 100 miles for work each day and am looking for around a 35000 mile/ year high mileage lease. one of the dealers mentioned "impossible" and i should opt for buying the car. Since I'm pretty sure I will be looking for a new car in 3-4 years I'm thinking a lease would be a better option. Do we have any high mileage lease options in Southern California for a Volt? or is this just not possible?
  • tgaydoshtgaydosh Posts: 4
    What are the current lease incentives on a Volt in CT?
  • peterindbpeterindb Posts: 2
    edited July 2012
    Hi, there,

    Just leased a Volt with the help of this forum and thought I'd also share what I experienced (A smooth process at Selman Chevy at Orange, CA.)

    Model: 2013 Black with Premium Package, Bose audio.

    MSRP: $42480
    Price offered: $40498
    $ up front (including 1st lease payment and security deposit): $ 1200
    Residual: 67%
    Lease Term: 36 months @ 12,000 miles/yr.
    Interest rate: 1.35%

    Monthly payment: $366/mo + tax

    I did the initial negotiations via email with their internet fleet manager. The offered price (almost 2K off MSRP) got me in the dealer door. Of course when they found out I wanted to lease, they offered up the monthly payments (low $400's) without showing me the other relevant numbers at first. I Was able to get the payments down as soon as I asked for the residual and the money factor numbers behind their calculations.

    Love the car so far, Build quality is indistinguishable from import, and the thing has some zip.
  • sport73sport73 Posts: 1
    Thought I'd share my experience:

    2012 Chevy Volt Loaded with Premium Leather Trim, Navigation, Bose, Rear Park Assist, polished wheels...

    36 months; 15,000 miles/yr.
    $2500 down.
    $320/mo. including FL tax

    Don't really care what they valued the residual at as I have no plans to purchase at lease end. Only downside was having to suck up the vehicle's red accents.
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