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Chevrolet Volt Lease Questions

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  • Wow, this sounds like a great deal but I cannot figure out how you got such a low price from the info you supplied. I assume they heavily discounted off the MSRP and perhaps you got very low interest. Even so, using a lease calculator I cannot get the payments below $400/500 per month. Can you provide nay additional details? i would love ot find a deal similar to this in the LA area.

    Thanks!
  • Hi Toddeb,

    My car got all the upgrade except navigation (dont need bc of 3 years Onstar), Bose , leather heated seats, safety sensors, etc... i didn't get the special premium bc i didn't want to pay more. They discounted the car down to around $40.,000 and then discounted the $2500. Not sure how they did it. My total drive off was $1199. It was my first time leasing. It's $30 more if you want 15k mi. But i never drove more than 12k a year.

    George chevrolet is right off Bellflower on the 91 fwy . Ask for Alejandro.
  • I didn't care about the residual bc i don't plan on keeping my car after the lease term. This is the first time i lease a car. With the new technology and great lease price, my payment is the same as what i normally paid for gas. Unless i get a good lease deal later, i don't see myself leasing my next car.
  • Yes, I feel the same way. I prefer a high residual. Unfortunately, they lowered the residuals in mid October (RIGHT when I went to lease one!) and made a monthly lease rate more expensive.
  • Oh, I didn't realize it was 12k. I was looking at 15k. I also contacted George Chevrolet but they were only offering to go down to $42k before the $2420 reduction, not $40k. Maybe I can get them down to that price, too. Thanks!
  • Maybe it was a good thing i didn't know anything about leasing. I don't know how they do their calculation. I BS on what another dealership was quoting me and got them to beat it or match it....and they did. If you're serious about leasing the volt, i can ask the salesman that i got the car from to see if they can give you the same lease. It worked for my friends.
  • i got my volt today with nav & leather mrsp 44150,
    drive off - $1750
    miles - 12k
    term - 36 months
    payment - $400 including tax CA

    is this a good deal?
  • Congratulations. As long as you are happy with it then it's a good deal. It's a great car. For the price of the car, i wish they make it more luxurious. I guess something gotta give . I have my car for 3 months and still has 6 gallons of gas left. I hope i remember how to fill gas later...lol.

    Btw, don't forget to enroll with Onstar and download the app on your phone for the remote start. I love the turn-by-turn navigation. I didn't know this but it takes about 16 hrs to charge on empty @8amp. You can over ride it to 12amp by pushing the leaf button. It will give you a quicker charge...about 10hrs on empty. Enjoy your Volt.
  • Yes, congrats!
    The I phone app is awesome.
    I have had my volt 3 months, gone 1200 miles. Three gallons of gas used, way cool.
    Enjoy it.
  • I am looking for a new Volt as well. Can you tell me where you got this deal from?

    Thanks.
  • I leased a 2012 in Riverhead, Long Island, NY. My Volt is fully loaded, including the Diamond White paint. I negotiated a payment of $418 per month for 36 months and 36,000 miles (20 cents per mile over that limit). As your posting is almost a month old, I'll assume that you made your deal. I hope that you like your 2012 as much as I love mine. I've driven over 9500 miles to date, half electric, half gas. I get an average of 20.7 kWh/100 miles and 41.2 mpg in CS mode. My total energy cost is averaging 6 cents per mile (and that's using premium gas at around $4.20 per gallon). Usable life of the ICE oil is at 79%, many more mile yet to go before needing an oil change. The 2010 Prius I traded in would have averaged 8 cents per mile (50 mpg and $3.85 per gallon), or more when factoring in oil changes. The electric rate I pay, with taxes and surcharges factored in, is 20 Cents per kWh. Good luck with your 2012 - you're in for a treat! And just for the record, I am completely bewildered with the Edmunds comment about touchy brakes, My brakes act just like my Prius brakes acted. They are NOT touchy, IMO. They are excellent.
  • I leased from Felix chevrolet in Los Angeles.
  • Fairfield Chevy
  • has anyone negotiated a 15k mile lease? Thanks
  • In So Cal. Might pick one up today if this sounds like a good deal! Thanks everybody.
    36 Month Lease / 15K Miles per year
    Base Payment is $360 + Tax
    Due at Delivery - $1,500

    Is there any other info I should find out? That's all I really have. Thanks.
  • Working on that today. See my last post in this forum. Thanks.
  • 12K/36K miles
    2K drive-off, $400/month including taxes.
    $395 termination

    Premium Package
    Safety Package 2
    Navigation

    Courtesy Chevrolet on Stevens Creek - ask for Rich.
  • ozpozp Posts: 2
    Car man do you have the lease rates, residuals and incentives for base model and 12k/15k per year? Thanks.
  • hippievolthippievolt Posts: 1
    edited December 2012
    back in Oct i neg a 2013 volt, leather, safety package 2, 15k year, 1100 drive off, 36month, 425month. great car, love it. love that im not spending 700 a month on gas anymore. got it from felix chevrolet in los angeles.
  • I sure do ozp. BTW, I personally think that the Volt is really cool. Ally's December base lease rate and residual value for a 36-month lease of a 2013 Chevrolet Volt without navigation with 15,000 miles per year are 1.05% and 57%.

    General Motors is providing a $2,420 cash incentive on leases of this car right now.

    The residual value for a lease with only 12,000 miles per year is 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Does that 57% include the $7500 credit already or will $7500 be added to the residual after the 57%?
  • ozpozp Posts: 2
    Thanks Car man!

    I went to the dealer yesterday(Southern California) and was told that US Bank adds $7500 to the residual the following way(for 36mo/12k terms, base msrp):

    Residual=$39,999*45%+$7500=$25,499.55 which makes Residual less than 64% I didn't get any comprehensive reply why initial residual is lowered to 45%

    For Ally, I was quoted 60% residual and Federal Rebate was not in calculations.

    If I wasn't misled by the dealer, we, consumers, don't get any significant portion of federal rebate. Do others have different experience with utilizing federal rebate for the leases?
  • I got an ally lease
    1.1 % but it was back in Sept.
    Good luck with the car deal.
    You will love the car,
    I do!
  • I recently explored the parameters for a Volt lease. I consulted 3 different sources:
    - A lease consultant from Chart Software (maker of Expert Lease Pro)
    - An Ally bank "Chevy Volt Division" representative (877 486 5846)
    - A local Chevy dealer (who unfortunately understood this the least)

    The Chart Software lease consultant indicated a "real world" residual for the 2013 volt of 39% (after 36 months).

    He explained this 39% is so low in order to mitigate the risk a lessor takes due to the vehicle and it's technology being relatively new and the lack of historical reliability and resale value data.

    Both the dealer and the Ally representative said the actual 36-month residual being used for the Volt was 62%. So clearly this is artificially inflated over the real world expected value of the car 3 years down the road.

    The Ally representative confirmed the $7500 federal rebate is accounted for in the elevated residual. It would not appear in the lease worksheet anywhere else (such as coming off the top to reduce the purchase price, etc).

    The dealer (after taking a day to research this) also finally concluded that the federal rebate must be accounted for in the higher residual.

    A quick calculation shows that for a $40k MSRP vehicle, taking the residual from 39% to 62% amounts to a boost in residual value of $9200. So this is indeed in the neighborhood of making up for the $7500 federal rebate that bank (Ally) gets to keep in a lease since they are the vehicle owner.

    I had heard from a friend at work that earlier in 2012 there were Volt 24-month leases of around $240/mo to be had. He didn't say how much was required down up front and I forgot to ask.

    Working with my local (Western New York) dealer on a $40k MSRP Volt, and using the GM employee pricing which I am eligible for (amounts to about $1000 off of this vehicle) plus a $2500 incentive for leasing through Ally at 36 months or more, a 62% residual, 12k miles/yr, zero down, and 4.9% APR financiing, they came up with $465/mo.

    So, either the $240/mo I had heard about was with something like $6k down, or there were some other pretty big incentives available earlier in the year that aren't available now, or some combination of the two.

    Either way, since this was about double the payment amount that I was expecting, I ended up not going through with it. Bummer too, because I really think it's a great vehicle, and not just because I'm a GM employee.
  • Hello Dugknight, where is this deal from? I am located in LA and I'd like to pick one up before the end of the year. Thanks.
  • mozzy21mozzy21 Posts: 2
    edited January 2013
    After passively looking for a Volt since August '12 and talking with ~10 different dealers in NE IL and SE WI, I finally pulled the trigger on a 2013 lease before some special pricing / promotion expired. Wasn't as good as what was being offered in August, but here are the details:

    MSRP: $39,995
    3 Year 36,000 miles
    $2,230 down + fees (all-in of ~$3,200)
    Payment of $235/Month

    Hope this helps.
  • tschaitschai Posts: 14
    Carman, do you have the January lease rate? 12k/yr 36m on a 2013 Volt with Nav. Is it pretty much the same as last month as far incentives go with either Ally, GM Financial and US Bank.

    Thanks!
  • dpw1dpw1 Posts: 3
    That sounds like a great rate any seems like current deal is $299 on base 36mos.
    How much more should I expect to pay for premium trim ($1395)

    Im looking for 36mos 15k miles, with premium trim

    getting quotes around $465 with 3000 down. I, new to leasing what do I need to know.
  • wz40ftwz40ft Posts: 2
    edited January 2013
    Mozzy21, that is a good deal.. can you provide any other info that will help explain the low monthly rate? E.g. what was:
    - Which incentives applied and how much they were
    - Agreed selling price after incentives/promotions applied
    - Residual
    - Lease APR

    I ask because in my area, a very similar lease (3yr/36kmi) on similar vehicle was $465/mo (zero down), so I'm assuming the difference is in incentives/promotions or lease APR. Even if I put $2200 down like you, that would only lower my payment to around $400/mo.

    Thanks
  • I did my lease back in Sept.
    Ally gave 1.1 % I believe we are about the same price on the lease.

    BTW, you will love the car, I do!
This discussion has been closed.