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2014 Chevrolet Volt Lease Questions

Kirstie_HKirstie_H Posts: 10,837
edited January 30 in Chevrolet
Welcome to Edmunds discussion dedicated to 2014 Chevrolet Volt leasing questions.
Here you can find and discuss all the latest lease details for the 2014 Volt, including cap costs, money factors, residual values, acquisition fees, etc. Please post any leasing questions you have or any details you’d like to share about your own lease deals.

You can also research local dealer inventory and pricing, reviews, features, and specifications, on our 2014 Chevrolet Volt page.

To see all forums discussions about the Chevrolet Volt, including earlier model years, please visit our list of Chevrolet Volt discussions.

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  • Never leased before and am trying to figure out if I got a good (reasonable) deal. I see the 2013s are much lower but I got a 2014 so I can't tell...

    Negotiated based on vehicle price since that is how I have always purchased cars(is that the way to do it?)

    Anyway fully loaded 2014 MSRP $39,850 (everything but the bling rims)
    negotiated 35,900
    $1500 drive off
    370/mo 36/12k (tax incl.)
    felt high but it was by far the lowest of 8 dealerships I had bidding against each other in LA...

    Seems like there are too many moving parts in a lease, maybe I should have just purchased. We agreed on a $1500 drive off and to get to that number they gave me a 1500 bank rebate off the $3000 drive off listed on the paperwork. How does that work? Should I have gotten that and paid 0 down?

    Feeling like I would rather have just purchased because I think I negotiated a good purchase price but that just increased the residual value if I actually want to purchase later. And since the bank gets the $7500 tax credit it does not make a ton of sense to purchase this at the end of the lease anyway, right?

    Thoughts appreciated!

    So many questions and so much cognitive dissonance.
  • empowahempowah Posts: 11
    Hi kyfdx,

    I'm planning on leasing a 2014 Volt in Southern California and would like the know if the rates are any different here. From the ads I've seen, the lease cash is $2,415 rather than $1,415. Is this a regional thing? And I see there's an additional $1,000 competitive conquest rebate.

    Also wanted to confirm that the 59% residual is for 3 years, 12,000 miles per year. Would 10,000 miles per year be 60% residual then?

    Thanks in advance,

    Michael
  • kyfdxkyfdx Posts: 27,896
    I only have the national numbers... if a region has extra incentives, I'm not going to have that information..

    If a 10K/yr lease is offered, the residual will be 1% higher than the 12K/yr lease...

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I am interested in leasing a loaded Volt MSRP of $40,600.

    I have GM employee and a Current GM Lease.

    I am trying to figure out the payments for a 24 month 10k/year lease.

    Can these be had for relatively cheap?

    What rebates am I eligible for?

    Your help is appreciated.
  • Numbers I was given with the premium package and safety 1 in NJ

    $37040 MSRP
    $32950 dealer discount. She wouldn't tell me what that included but I'm assuming the $1000 conquest is in there
    Residual is $21484

    Can anyone backwards calculate that to see what the residual is, and if it's legit?
    She tells me if I wanted 12k miles, 350 a month it's 2300 down. $0 doe. Which is what I want she had me over 400. Tell me this way too high right?
  • kyfdxkyfdx Posts: 27,896
    That's 58%, which is correct for 36mo, 12K/yr lease

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • You should ask for the details about
    • Lease incentive
    • Capitalized Cost Reduction
    • Adjusted Net Cap cost
    • Residual value
    • APR
    Sales tax %

    and you can use the excel sheet I reference in my post above (#471)

    If I plug your numbers assuming that
    1.07% APR (you really need to find out what the APR is on the lease)
    32950 is the MSRP - dealer discount - lease incentive
    a lease fee of $600
    a sales tax of 6.5%
    To get to $350 including tax with $2300 down, it means about $1200 of upfront cost which is normal.

    But you need to clarify the lease incentive to be sure of the dealer discount. If the lease incentive is around 2400 that would mean an actual dealer discount of only $1690 (4.6%) which is not great you should expect something like 7/8%
  • I was quoted a base 2014 Volt $34,995 sticker price with lease as follows:

    $273/month
    $0 down
    39 months
    10,000 miles

    Is this a good deal?
  • yesterday I was quoted by two dealers of different prices.

    Dealer 1
    36 months
    12K miles
    $900.00 Drive off after state rebate
    $259 a month base payment

    Dealer 2
    4000. 12k miles a year 199 plus tax

    These are both base models
  • Ended up raising mileage to 12,000. Closed deal for $290 per month including tax, no money down 39 month lease. Included first payment in no money down, so 38 actual payments. This was done in Ohio.
  • Thanks for the info. Appreciate the details.

    The one that I am being quoted is 220 with 4k down (1500 credit from state).

    So if I split the remaining 2500 to 36 months it comes around the same price.
  • Hi guys,

    I am a total newbe at leasing cars. I followed one of the advices here and I asked a dealer I am working with for a breakdown of all costs associated with leasing a fully loaded 2014 Volt for 36 months with 15,000 miles/year (I know that's a lot for a leased vehicle, but that's what I have to drive to and from work...) and here's what I got from him:

    Market Value 39,715.00 Discount Savings -3,300.00 Vehicle Selling Price 36,415.00 Document Prep Fee 80.00 License / Title 326.00 Tire/Battery/VTR Fee 8.75 Other Fee 39.00 Acquisition Fee 595.00 Tax on Collected Items 304.73 Total Cap 37,768.48 Down/Cash Cap Reduction -1,082.62 Rebate Savings -2,400.00 Net Cap 34,285.86

    Base Payment 383.80 Monthly Tax 33.58 36 Month Payment 417.38

    Down/Cash Cap Reduction 1,082.62 1st Payment 417.38
    Due On Delivery 1,500.00

    Rate 0.00074 Annual Miles 15,000 Residual % [39,715] 55.3115951 Residual Amount 21,967.00

    Tax: 8.750% 8.75 %

    How would you rate this deal?

    Thank you in advance.

  • kyfdxkyfdx Posts: 27,896

    So... $1500 upfront and $417/mo.? Seems reasonable for a $39K vehicle.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I have a question in regards to leasing. I have discussed with a dealership yesterday and got the final negotiated price of a 2014 Volt down to $29,950 (and paperwork to prove it). That may be the lowest price anyone has gotten for a 2014 Volt on this forums but they seem to be quoting me a ridiculous amount of money for a lease monthly payment. I want $0 down, 12,000 miles/year, 36-39 month lease, $0 due at lease expiration. Based on what everyone else is paying, what kind of lease payment should I really be expecting here based on the final negotiated price. They seem to keep telling me that no one gets the $7500 tax credit because it's a lease. I know that is wrong, the leasing company gets the tax credit and it gets taken off the price for the lease. They are saying they can't put it in the lease to make my payments lower. It seems that everyone else who is getting a Volt is getting that tax credit included in their lease to make the payments lower (as it should). They are quoting me 398-448 a month (based on credit) for $0 down and 36 months. That seems WAY more than what other people are paying. Can someone help me with this? I am new to leasing. Much appreciated!

    I'm located in Phoenix, AZ by the way. Tax rate is 8.3% here.

  • kyfdxkyfdx Posts: 27,896

    You are correct.. the leasing company gets the tax credit. How they use that credit is up to them. In the case of ALLY, they offer a low money factor, a decent residual and a $2400 of lease cash that the dealer can use to lower the purchase price. They don't give the dealer $7500 to take off the price. I would assume the price they gave you already takes into account the $2400.

    The really cheap lease deals on the Volt were a few months ago on 2013 models.. $400/mo. or so, seems to be about the going rate on a 2014 model. (see posts directly above yours).

    regards,

    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Quoted today:

    2014 Chevy Volt with Base Cloth interior- $38,xxx (according to dealer) 2 Options only- Heated seats & navigation Negotiated Price- $31,xxx Total money down- $2000 20,000 miles/yr lease $401/month- 39 months (this payment includes the Fed 7500 rebate to leasing comp, tax, tags, everything) Residual- $18,xxx

    I know there is more info needed but can anyone tell me if this sounds OK?

  • Pulled the trigger yesterday on a 2014 Chevy Volt! So excited! It was a base volt with enhanced safety package 1, tinted windows, and nitrogen for life at the dealer. These were my details, did I get a good deal or did I get screwed? MSRP: $35,630 Negotiated Price: $32,760 Taxes/Fees: $1,502 (rolled into lease) Cost Cap Reductions/Rebates: $3,150 Adjusted Cap Cost (Financed Amount): $31,052 Residual Value: $20,655 Money Factor: 1.0% (0.0004167) 36 Months 12,000 miles/year Monthly Payment with taxes: $338

    I rolled all taxes and fees into the loan and only paid my first month payment at lease signing. I really like this car! It's like I'm driving a car of the future! Thanks for everyone in the forum, I used your pricing and figures as leverage!

  • Well Marine......it looks like you have done a pretty good job! I would say that is a decent deal. You could have squeezed them a little more on a base model. Being that you only paid 1st months payment, that's a good deal. Some people have paid over $1000 at signing and get a payment of $310 which is about equal to the deal you got.

  • Hey all, I thought I would give you an update on some of my first numbers I am getting from a Dealer in Connecticut.

    2014 Volt with many upgraded options MSRP: $39,815 Dealer discounted down to: $38,000 (Below invoice) 15,000 mi 36 Mo $2400 rebate

    $0 due at signing

    $475/ month lease payment $475/mo payment (Seems very high to me)

  • Hey all, I thought I would give you an update on some of my first numbers I am getting from a Dealer in Connecticut.

    2014 Volt with many upgraded options MSRP: $39,815 Dealer discounted down to: $38,000 (Below invoice) 15,000 mi 36 Mo $2400 rebate

    $0 due at signing

    $475/ month lease payment $475/mo payment (Seems very high to me)

  • Hello to all,

    Here from sunny California. After battling bumper to bumper traffic in bay area for the past several months, decided to lease a car that would put me in HOV (carpool lane). So, after test driving Toyoto Prius hybrid plug in, Ford C-Max Energi and Volt, I truly felt Volt's performance was unmatchabale.

    Can you let me know whether this is a good deal.

    Volt 2014 model White Diamond Premium package & Enhanced Safety package(rear view mirrors,auto dimming...etc)

    36 month lease period MSRP $35740 Gross capitalized cost $36,555 ( MSRP + $595 ally admin fee + $220 optional service contract) Capitalized cost reduction $4186 Residual around $22k (59%)

    $3000 down payment goes towards first month payment Registration fees $91 Electronic vehicle reg. $29 CA Sales tax $400

    Got the deal through Ally bank with 2.2% interest rate.

    Below represents the savings that I was able to get, $1500 CA state tax rebates $500 costco card rewards Actual discount from MSRP price $2400

    After crunching through the numbers, the final rock bottom price was $375 per month. Do you think whether it is a good/bad deal? Any suggestions is appreciated.

  • dannog35dannog35 Posts: 6

    **In response to Curious2car: ** I do not believe that they are offering you a great deal. I am currently working on a more expensive car than you and mine is cheaper. Also, $3000K down is crazy. I would recommend structuring all your deals with only $1000 down and push them for a $300 payment. This is my most recent deal.

    2014 Volt, Red Crystal color, leather, heated seats, Bose sound system, Safety 1 pkg., Navigation. MSRP: $39445.00. The 39 mo payment 15k/yr, $2170.00 out of pocket Monthly Payment: $367 (I still do not consider this to be a good deal, plus they say $2170 down even though I told them structure it with $1000 down.

    The way I see it, my dealer is barely even trying yet.

    If you build the car you want on the Chevy website, even Chevy's national deal is better than what Ally offered you.

  • Thanks dannog35 for the insight... appreciate it...

  • akm2akm2 Posts: 1

    Just got an offer today in CT... I'm going to take it mainly because I'm too lazy to sell my current vehicle and the trade is an OK offer:

    Base Volt 36 month, 12,000 34995 MSRP 59.43% residual 33,950 base cap cost 35,234 Gross cap cost (includes fees) 212 monthly depeciation .0007400 lease factor They list the Cash Down payment at 6,773, but are somehow giving me rebates to bring my cash down to $4100 (including first months payment) They are giving me 3K trade-in for a 12 year old Subaru, so I bring $1,000 to signing Payment is 249.29 before 6.35% tax Total monthly payment is 265.12

  • bgteesbgtees Posts: 15
    edited March 14

    I have never leased a vehicle before and I tend to keep my vehicles for at least 7 or 8 years, so I am wondering if leasing would make any sense for me. If I were to lease and then want to purchase the vehicle at the end of the lease term, is it possible that my ultimate "purchase price" would be lower than if I was able to negotiate a good price and purchase from the beginning?

    For what it's worth, I should be able to take advantage of the full $7,500 taxes credit for 2014, and since I live in Texas, my understanding is that I will pay sales tax on the full vehicle cost regardless of lease or purchase.

    Thank you for your help!

  • kyfdxkyfdx Posts: 27,896

    @bgtees said: I have never leased a vehicle before and I tend to keep my vehicles for at least 7 or 8 years, so I am wondering if leasing would make any sense for me. If I were to lease and then want to purchase the vehicle at the end of the lease term, is it possible that my ultimate "purchase price" would be lower than if I was able to negotiate a good price and purchase from the beginning?

    For what it's worth, I should be able to take advantage of the full $7,500 taxes credit for 2014, and since I live in Texas, my understanding is that I will pay sales tax on the full vehicle cost regardless of lease or purchase.

    Thank you for your help!

    It's very rare that a "lease to own" deal works out to be less money than buying from the start. It takes a special set of circumstances for that to happen.. The one advantage is: If it turns out to be a car that you don't want to keep for 8 years, you can just let it go at the end of the lease term.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jwc905jwc905 Posts: 2

    So I see most people are quoting a residual of 59% for a 36month/12K lease. The ALG quotes a residual of 46% and I've heard rumor where they will take that and add the $7500 so that a $34995 would end up at $23,597.70 which results in much lower payments than using 59%. Does anyone know of a lease company that does it that was or is this just a pipe dream?

    • Jeff
  • kyfdxkyfdx Posts: 27,896

    @jwc905 said: So I see most people are quoting a residual of 59% for a 36month/12K lease. The ALG quotes a residual of 46% and I've heard rumor where they will take that and add the $7500 so that a $34995 would end up at $23,597.70 which results in much lower payments than using 59%. Does anyone know of a lease company that does it that was or is this just a pipe dream?

    • Jeff

    Independent banks might use ALG, but if they do, they would likely keep the $7500 for themselves. The numbers I quote here are from ALLY Bank.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jwc905jwc905 Posts: 2

    So I just completed financing with US Bank. They did the residual as .39%+$7500. This ended up with a residual which is .59 which is a few points higher than GM and Ally who use something closer to .56. Of course the cost to purchase at the end of this is the .59 so think about your long term goals, lower payments now will result in a higher buy out later. So when going through this it is worth seeing which lease company will do better in your situation.

    It is also worth noting that of the three dealers I worked with on this only two were able to use US Bank.

    One quoted me a residual of .42+7500 for 36/12 and the other .39+$7500 for 39/12. The first was a base model the second had safety 1 and safety 2. The 3rd dealer quoted .56 for 36/12 from Ally.

    I went so far as to call US Bank and ask them what the formula was for determining the residual and why different dealers were doing it differently. The support person said that the residual is the difference of the cap cost - all payments. When I asked what they use to determine the monthly payment she said that was based on the deal I worked out with the dealer. So I said so the dealer determines the residual and she said no we decide how much to loan out. So we went around like this for quite a while and unfortunately I finally just gave up. But I believe it is ~.4 + $7500 with differences based on length and mileage.

    Hopefully this info can help someone out there though.

    Happy Shopping!

  • kyfdxkyfdx Posts: 27,896

    So.. what sort of payment did you end up with?

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