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2014 Chevrolet Volt Lease Questions

135

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  • hb_dudehb_dude Posts: 3

    Hi, Would love an opinion/evaluation of following offer in LA County: 2014 Volt, Safety package 1, Premium leather interior package, roughly 37.1K MSRP. gross cap cost 33730, cap reduction 2110, Net cap cost 31620, Residual 20796 36 mos, 15k mi / yr, Base payment 323, Tax 29, Total monthly 352, $1500 due on delivery

    Good deal??? It's so hard to figure these things out............ Thanks for any and all advice.

  • kyfdxkyfdx Posts: 30,443

    Does the CAP reduction come from a rebate? I'm wondering, because it's $2110, but you only have $1500 due at signing..

    $350/mo. for a 36mo, 15K/yr lease is cheap for a car that's over $30K.

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  • hb_dudehb_dude Posts: 3

    From one part of quote sheet.... 1st payment $351.93 Cap Reduction $2109.97 Sales Tx upfront $197.10 First yr fees $332.00 Other upfront $80. Total Initial payment = $3071 Due on delivery = $1500

    Does this help? I'm assuming due on delivery is the only amount I'll need to pay out of pocket..... Thanks for your thoughts!

  • kyfdxkyfdx Posts: 30,443

    There is $1571 of lease cash on this model, so that adds up exactly. I agree.. Due on Delivery should be all you have to pay.

    Looks good!

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  • ctelkesctelkes Posts: 1

    Could someone please explain what I did wrong? I researched on here, but was quoted a deal that was so far out of whack with recent posts I just walked out. I was looking at a car with an MSRP of $37,160, they agreed to $35601. We started working on the lease terms, but they weren't being very forthright with any of the variables you guys list (MF, Residual Value, etc...) They offered either $500 per month no money down for 15k 3 years, or $400 per month with 4000 down?? They also said there was NO lease incentive of $1500 and that the residual value (when they finally told me) was .55 not .56 - In addition, they offered $3k less for my trade in (which is in AWESOME condition) than either NADA of KBB suggested I could expect. Is this the real world, or did I go about it the wrong way? They let me walk, so they stuck by their terms. It was odd though, they made NO effort to negotiate at all?

  • SlimmsSlimms Posts: 19
    Any dealership that won't disclose standard lease information doesn't need your business
  • hb_dudehb_dude Posts: 3

    I agree. My first offer at another dealer was for $470 / month at 3yr / 15K mi. Just got another email this week from same dealer in Orange County, CA:

    xxxx is excited to offer all prospective Chevrolet Volt customers a very limited time offer.

    Now through April 30, 2014 take advantage of SPECIAL LEASE PRICING on a Fully Loaded 2014 CHEVROLET Volt including Audio System w/Navigation, Safety Package 1 & 2, and polished aluminum wheels.Low-Mileage Lease for Qualified Non-GM Lessees 36 month lease $299/month* $0 due at signing WE PAY: 1st Payment All Fees due at signing *Payment does not include sales tax. Mileage charge of $0.25 /mile over 30,000 miles. On lender approval. Customer must present this offer at time of purchase. See dealer for additional details.

  • clone135clone135 Posts: 4

    Test drove a 2014 Chevy Volt today in Northern California and I wanted to see if it is a good deal on the lease.

    MSRP: $34,995 (Base Model) Cap Cost: 30,995 APR: not disclosed factory lease cash/rebate: $1571 Zero money down

    36 month lease 12k miles/year = $268 + tax 15k miles/year = $288 + tax

    Thoughts? Concerns? Can i do better?

    I think it is a really good deal considering I saw the same car advertised for $258/month with no money down but only for 10k miles/year

  • carbuyer230carbuyer230 Posts: 10

    Looking at Volt or Fusion Energy 36/12k lease in Indiana. Volt is base with MSRP of $34,995 and sales price of $32,465. Trying to calculate my own lease using 58% and .00042 residual plus lease cash $1575, but I am not getting the numbers I see in the above posts. What should the lease payment be for my scenario?

  • MichaellMichaell ColoradoPosts: 7,233

    @carbuyer230 said: Looking at Volt or Fusion Energy 36/12k lease in Indiana. Volt is base with MSRP of $34,995 and sales price of $32,465. Trying to calculate my own lease using 58% and .00042 residual plus lease cash $1575, but I am not getting the numbers I see in the above posts. What should the lease payment be for my scenario?

    Plugging your numbers in gives me a pre-tax payment of $360.16 for 36 months. Is the $1575 lease cash being used to reduce the sales price? If so, that doesn't represent much of a discount from sticker.

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  • SlimmsSlimms Posts: 19
    I kept getting the run around as well. For a base of 34995, they gave me 32495 saying it was a great deal. After subtracting the lease cash and 500 conquest rebate they only discounted the car $500 and wouldn't budge. Invoice price isn't much lower on these cars so I don't know how the dealers are making money selling them so cheap
  • carbuyer230carbuyer230 Posts: 10

    $32465 is the set employee price before any incentives (ie, the lease cash) is considered. I wasn't quite sure how to handle the lease cash in my calculations. Dealer quote for 36/12k was $369/month. No trade. Thank you for any help.

  • SlimmsSlimms Posts: 19
    Lease cash should drop the payment about $40 per month. My dealer was acting as if the lease cash was part of the discount the dealer was offering to me, disguising it to be a great deal. They had no problem getting me to 32xxx because there was basically no dealer discount involved.
  • carbuyer230carbuyer230 Posts: 10

    Thanks Slimms, now I am getting $360.16 before lease cash and $315.75 with lease cash factored in.

  • SlimmsSlimms Posts: 19
    It's great to have all this knowledge, but if you have a dealer that doesn't want to participate it gets very frustrating. I had a truecar dealer not offer the price because they said that truecar lies and doesn't inform the dealer of the prices. I ended up buying a civic and every piece of info I gave them they took and gave me the deal no questions asked.
  • carbuyer230carbuyer230 Posts: 10

    The only pushback I got was the money factor. Can someone confirm the money factor for Indiana 36/12k at .00042?

  • MichaellMichaell ColoradoPosts: 7,233
    edited April 28

    @carbuyer230 said: The only pushback I got was the money factor. Can someone confirm the money factor for Indiana 36/12k at .00042?

    My numbers show 1% MF for Volt .. which, when divided by 2400, comes out to .00042.

    Could this be a lease through another finance institution? My numbers are for Ally.

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  • danielalvaradodanielalvarado Posts: 5
    edited April 28

    Hi all,

    I'm just wondering why no one's lease includes the 7500 tax credit reduction to the cap cost? My local dealer told me that there were some lessors (Ally Bank, Union/US Bank? Forgot the other one) that deduct some/all of the 7500 federal tax credit from the capitalized cost, like NMAC does for the Nissan Leaf.

    Has anyone done such a deal?

    I started with a $35,010 Sticker Price for 2014 Base Model Got a TrueCar price of $31,425 from local deal

    So shouldn't it be $31,425 minus $7500 (fed tax credit cap cost reduction) minus $1571 (lease cash) = $22,425 Net Capitalized Cost?

  • Kirstie_HKirstie_H Posts: 10,914

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  • carbuyer230carbuyer230 Posts: 10

    @Michaell@Edmunds: Got it done at that MF. This forum helped a lot thanks!

  • Hi. Please provide me with mf and rv for 10k, 12k, and 15k miles.

    Also, what are incentives available for leases. I currently lease a non-gm vehicle, too.

    Do the Fed and State (CA) tax credits get deducted from selling price to calculate a cap cost?

    Thanks.

  • MichaellMichaell ColoradoPosts: 7,233

    @flapjackcrust said: Hi. Please provide me with mf and rv for 10k, 12k, and 15k miles.

    Also, what are incentives available for leases. I currently lease a non-gm vehicle, too.

    Do the Fed and State (CA) tax credits get deducted from selling price to calculate a cap cost?

    Thanks.

    What lease term?

    I believe the tax credits are subtracted from your best negotiated selling price to give you the net cap cost.

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  • I think 36 months would be ideal unless there is a better program.

    Would you happen to have any info on the incentives for leasing?

    Thanks

  • MichaellMichaell ColoradoPosts: 7,233

    @flapjackcrust said: I think 36 months would be ideal unless there is a better program.

    Would you happen to have any info on the incentives for leasing?

    Thanks

    1.0% MF and 57% residual for 36/15K. $2240 lease cash this month.

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  • Thanks for the info.

    Are there any other incentives in addition to the $2240 lease cash? Conquest money?

    And how do the federal and state tax credits get applied?

    Thanks.

  • MichaellMichaell ColoradoPosts: 7,233

    @flapjackcrust said: Thanks for the info.

    Are there any other incentives in addition to the $2240 lease cash? Conquest money?

    And how do the federal and state tax credits get applied?

    Thanks.

    No other incentives that I'm aware of.

    Usually the credits are taken off the cap cost.

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  • vshah05vshah05 Posts: 1

    Just signed a 36-mo lease in Northern California for a 2014 Chevy Volt. 2014 Volt Base Model w/ Safety Package 1. * 36-mo term * 15k miles/yr * $5k down (includes 1-month payment) * $174/mo + tax * $0 disposition (return) fee * 58.05% residual * 0.96% MF

    Will receive additional $1500 cash rebate through State of CA.

  • icherub1icherub1 Posts: 11

    @vshah05 said: Just signed a 36-mo lease in Northern California for a 2014 Chevy Volt. 2014 Volt Base Model w/ Safety Package 1. * 36-mo term * 15k miles/yr * $5k down (includes 1-month payment) * $174/mo + tax * $0 disposition (return) fee * 58.05% residual * 0.96% MF

    Will receive additional $1500 cash rebate through State of CA.

    Maybe I just don't get leasing yet, but I ran your numbers through Bankrate's leasing calculator and found that even if you paid MSRP - $7,500 tax credit, your payment should be under $100/month with that down payment. Am I missing something?

  • kyfdxkyfdx Posts: 30,443

    The lessee doesn't get the $7500 tax credit. The bank gets it, because they are buying the car.. If the lessee received the entire $7500 credit, then the residual would be a lot lower..

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  • For a California Volt lease, are these the minimum drive offs? Also, what are the amounts of each of these?

    Registration CA Tire Fee Electronic Vehicle Registration Doc Fee Acquisition Fee

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