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Chevrolet Volt Lease Questions
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Can you please provide the Residual and Money Factor for 2013 & 2014 Volts 12K mi/yr please?
Thanks!
Money factor 0.85%, Residual 53%, MSRP 39,995, Net CAP $30,210
Our deals are very similar except for the extra $9/mo ($351) and $1020. The 12/15k miles, 36/39 month differences seem to balance out.
What dealer did you use?
C
I asked about the 5K discount and they said you can't get both that and the tax credit, that you could only get the 5K if you agreed to some ridiculous 28% residual. I'm wondering if since it's a smalltown dealer that probably only got one Volt that they don't know you can get both or that they do know and are just trying to keep the 5K for themselves, though I don't know how if they were only discounting the car a little over 1K.
Told them I 'might' be in touch.
0.85% MF and 53% residual.. $7250 in lease cash
2014 Volt (w/o NAV)
1.05% MF and 59% residual.. $1415 in lease cash
regards,
kyfdx
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Can you please post Offers for November? Looks like GM bumped up Cash Offer on purchase of 2013 by $1000 from $6000 to $7000. Did they bump up Lease Cash too (from $7250 to $8250) ?
Thanks!
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https://skydrive.live.com/?cid=4BE668230430EFDD&id=4BE668230430EFDD!799
The sheet includes two tables:
1) A Direct Calculation table that shows the various lease variable and how they are combined to produce a monthly payment.
When you know the key variables (in yellow) you can simulate different leases by trying different money down, APR, dealer discount etc... and therefore find out what conditions you would need to get to a certain lease payment.
That table is prefilled with the numbers I got for my lease with Ally in March 2013.
Of course, you usually cannot get all that information upfront from the dealer. There are many items a dealer won’t tell you about that will influence the lease. So the sheet includes a second table.
2) A Reverse calculation table, to figure out some numbers based on a few key elements that a dealer will give you when you ask. This table allows you to figure out elements such as dealer discount or miscellaneous upfront costs.
Once you have these, you can use the first table to see how much more money you need to put down, or how much more discount you need to push for, in order to get below a certain monthly payment.
When Asking a Dealer for a quote, you would give him
• The model / options you want
• The duration of the lease (ie: 36 mth)
• The mileage (ie: 12,000 miles)
• The money you are prepared to put down. IMPORTANT tell him this has to cover ALL upfront costs that must be paid. If not some dealers will leave aside some fees that they will add at the last minute, increasing the initial “money down” amount you had mentioned.
With these elements, the numbers you need to insist on getting are (and that I found they will usually provide if asked):
• MSRP
• Lease incentive
• Capitalized Cost Reduction
• Adjusted Net Cap cost
• Residual value
• APR
These will allow you to figure out the dealer discount (you need to assume some lease fees) so you know if you are getting a deal, as well as the miscellaneous Up Front costs.
Hope this helps
Can you please send me the details of the dealer privately to my email address? I am interested in the deal.
Regards,
Michaell
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Please continue in our 2014 Chevrolet Volt Lease Questions discussion.
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