Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Chevrolet Volt Lease Questions

145791016

Comments

  • pilot25pilot25 Posts: 20
    Can you recommend the dealer you used? We are also in the Long Island area. Thanks~
  • North Shore Chevrolet of Smithtown.
  • pilot25pilot25 Posts: 20
    Hi can someone help with residual value and mf for a 2013 volt 12k miles 36 month lease with comfort package , package 1 and 2.
    Thanks
  • Hello pilot25. Ally's October 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 1.56% and 63%.

    There is currently a $2,500 cash incentive on leases of this car through Ally.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • pilot25pilot25 Posts: 20
    The dealership had told me US bank had a better lease deal. With 48% residual and mf of 0.00065. Is he lying to me?
  • That's very possible, pilot25. It seems as though US Bank has been providing fairly aggressive lease programs on GM models lately. The numbers that you were given by the dealer look right. Just make sure to take the available lease cash into account.

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

    I just leased a 2013 Cyber Gray, black leather, white ceramic trim, with all the bells and whistles except nav. Total cap cost $39,500, residual value $25,961. $2,500 in rebates and noncash credits, $0 down (just upfront payment of first month and returnable $400 security deposit). Total monthly payment of $372 (not including MA taxes). I take delivery tomorrow.

    This site has been very helpful and I'm posting the details of my deal in hopes that other people find it useful.
  • Should have added: 15,000 miles per year and 36 month lease.
  • Could someone post the definitive residual and money factor rates for 15k miles on 36 month lease for a Volt?
    What are the incentives from Ally?
  • tschaitschai Posts: 14
    Residuals are lower compare to October. It's 43% for 36m/15k and 41% 39m/15k with $2440 CCR. Add 2% for 12k/year. Same for both navi and non-navi. Keep in mind the residual is before adding the $7500 federal tax credit. Money factor is .00048 or 1.15% Financed to US Bank. I don't have one for Ally.

    These numbers are for November and December.
  • I'm trying to figure out the Volt lease price but I'm confused as to how the tax credits work. In California, there's an additional $1500 credit, I believe, bringing the total credit to $9000. Does this get applied directly to the final cap cost of the car? What happens to the residual? I'm using the Edmunds calculator. Given these credits, what numbers do I enter for Incentives and Rebates and Lease Residual? Thanks!
  • Getting different messages from dealer. Do you reduce the negotiated price by 7500 (tax credit) and then by 2500 (ally incentive) when leasing? Can't seem to make the math work. Anyone who actually leased, can you post the detailed math here?
  • tschaitschai Posts: 14
    You add the $7500 to the residual. So if the residual is 43%, you add $7500 on top of that. This reduces your depreciation charge by $7500. This significantly inflates the purchase price at the end of your lease. I doubt that the Volt will be worth the inflated residual after 36 months.
  • tschaitschai Posts: 14
    You apply for the $1500 rebate after you get the car from the dealer. You have to submit the purchase information to the state to receive that rebate. It takes about 6-8 weeks. It doesn't affect your lease payment. If you get rid of the Volt before 36 months, you have to give part or all of that $1500 back to the state.
  • OK, so the $1500 doesn't factor in the lease at all, but how about the $7500? How does that compute into the lease?
  • tschaitschai Posts: 14
    It increases your residual by $7500. So your rent charge(depreciation) gets reduced by $7500 off the bat. This can reduce your monthly payment by up to $208 ($7500/36) depending on the money factor. All the special lease ads you see for the Volt already have this figured into the monthly payment so don't assume that it's a additional reduction to the lease payment.
  • tschaitschai Posts: 14
    You only add $7500 to the residuals for US Bank not Ally. Ally residuals already have the $7500 built in, how much of that is built into it is not known. I don't think there's a $2500 Ally lease incentive. Where did you see that? I believe there's only a $500 subprime incentive and $500 targeted mailer cash incentive for Ally.
  • ksunaksuna Posts: 3
    I'm looking to lease a 2013 Volt, but am having trouble finding anything that resembles a good deal. I have great credit (in the 800's).

    This was my latest offer on a 2013 loaded Volt: Premium Trim, Safety 1 and 2, Bose system, Nav, and Polished Wheels. I would welcome your comments. Thanks.

    MSRP: $44,605.00
    Sale price: $42,928.00

    36months 12,000 miles per year. $2500 down
    Residual Value 61% or $27,210 (buyout)
    Lease Money factor 0.00081 (rough APR 1.9%)
    Total due at inception $2500 includes 1st payment
    35 payments remaining at $437.07
  • I got a lease that was fully loaded Package 1 & 2.

    The payment is $418.00 including California Taxes
    36 Months 15,000 Miles. I put down $1,750

    I know the money factor was about 1.9 thru Ally.

    It included 1st payment.

    Where are you located?
  • Is there a Volt shortage? I went to a dealer today and they made me an absurd lease offer of $550 per month with nothing down. That's a joke. I called another in Los Angeles and the dealer said he'd call me back -- nothing back from him! What gives? Just a few weeks ago people were reporting crazy good deals. Now I can't even get one. Is this related to the Volt plant shutdown not long ago or just the market reaction to the gas spike and the good lease deals? At this point, I'm looking at waiting until end of Dec or January. Maybe I will comparison shop with the Ford plug-ins too.
  • I was recently offered a deal for a 36mo 10k volt

    Loaded at 44120 msrp
    Selling price 41424

    Then I can apply 2k rebate

    This is a us bank deal

    Payment 419 inc tax. 1000 drive offs. Good deal.

    Car man do you have the lease rates and residuals for both ally and us bank? Thanks.
  • What Cali dealer?
  • I got mine at Connell Chevrolet
    White w Black interior.
    Loaded, Nav, Leather, Bose speakers, Chrome wheels, back up camera
    I put down 3500 cash my payment is 223.00 mo
    2 year lease 10 k per year
    I think I did well.some will do better
  • ksunaksuna Posts: 3
    Received this lease offer for a 2013 Volt, White Diamond Tricoat, Performance Trim, Bose Audio, Nav, and polished wheels:

    36 months, 12,000 miles per year, $2500 down.

    $399 per month which includes all county taxes and fees. The buyout is $25,743.

    Any opinions?
  • Thats better then I have got so far in KC. I have the same deal but 3500 down. where are you located and who is the dealer?
  • I'll be contacting Connell Chevy. Bunnin and Keyes in LA told me they're not doing 24 month leases. It seems they're not longer interested in selling these cars : )
  • Connell came back $470/month $1700 down. No thank you.
  • I was offerred 36 mos.@ 329 (base package). or 410 (loaded) with 2700. down at a dealer in No. Va. According to them, all leases arranged thru Ally, so dealers have no leeway to change the deal. If true, why are there so many variations?
    This doesn't seem to be all that great a deal.
  • The lease may be provided by Ally but, just like when you buy, you still need to negotiate the price of the car the lease is based on. A lease based on the MSRP is going to be more expensive than a lease based on the invoice price.
145791016
This discussion has been closed.