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__Values & Prices Paid__Meet your fellow owners in our

__Owners Clubs__# 2014 Chevrolet Volt Lease Questions

This discussion is dedicated to 2014 Chevrolet Volt leasing questions. To discuss the latest lease deals for the current model, please join us in the 2015 Chevrolet Volt Lease Questions forum. You can also research local dealer inventory and pricing, reviews, features, and specifications, on Edmunds 2015 Chevrolet Volt page.

In this discussion, 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.

Navigation tips: To see the most recent information and activity, make sure to visit the latest post, which may be a few pages ahead. Click the pages numbers just below to go to a new page in the discussion -- or search the entire discussion by clicking the magnifying glass icon and entering keywords.

We also invite you to share your purchase experience on Edmunds Facebook page, Share Your Story.

In this discussion, 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.

Navigation tips: To see the most recent information and activity, make sure to visit the latest post, which may be a few pages ahead. Click the pages numbers just below to go to a new page in the discussion -- or search the entire discussion by clicking the magnifying glass icon and entering keywords.

We also invite you to share your purchase experience on Edmunds Facebook page, Share Your Story.

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## Comments

1Negotiated 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.

59I'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

130,860If a 10K/yr lease is offered, the residual will be 1% higher than the 12K/yr lease...

regards,

kyfdx

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator10I 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.

17$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?

130,860regards,

kyfdx

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator2• 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%

2$273/month

$0 down

39 months

10,000 miles

Is this a good deal?

45Dealer 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

245The 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.

1Hi 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.

130,860So... $1500 upfront and $417/mo.?

Seems reasonable for a $39K vehicle.

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator2I 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.

130,860You 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

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator2Quoted 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?

2Pulled 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!

6Well 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.

6Hey 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)

6Hey 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)

2Hello 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.

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.

2Thanks dannog35 for the insight... appreciate it...

1Just 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

15I 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!

130,860It'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.

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator2So 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

muchlower payments than using 59%. Does anyone know of a lease company that does it that was or is this just a pipe dream?130,860Independent 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.

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator2So 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!

130,860So.. what sort of payment did you end up with?

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator9Everyone posting here is asking if the deal they are quoted is good or not. I am a Finance Professor and would like to propose an alternative way to analyze these deals that assigns an interest rate to the loan amount covering the lease. It would work as follows: what is the interest rate that equates your payments to the gross amount financed in the deal. Below I've appended one of the deals I took from this discussion. They were quoted a purchase price of $31,052, made payments of $338 per month for 36 months, and then gave the car back to the dealer with residual value of $20,655. One can calculate the interest rate that equates these two amounts, the PV of the car, and the PV of the payments plus the discounted future residual value. In this case the interest rate (APR) is approximately 1.75%. I'd say that is a good deal in an absolute sense, and one can compare the deal with others using this approach. Can anyone tell me if this makes sense? It certainly simplifies things. My spreadsheet allows for added charges, down payments, different residuals, etc. The way that the dealer does this calculation is a little obscure, using finance factors etc. Let me know.

Car Lease Analysis

Chevrolet Volt

Deal 2

Purchase $34,995.00

Fees, Taxes etc. $-

Gross Purchase $31,052.00

Amt Down (Drive-off?) $-

Payment $(338.00)

months 12

Years 3

Periods 36

Residual Percent 66.5%

Residual Value $(20,655.00)

APR 1.75%

Periodic Rate 0.15%

PV of Pmts plus Residual Value $31,462.31

124,588The calculator my co-host and I use has no math functions more complicated than the basics - add, subtract, multiply and divide. It's just a matter of knowing what numbers to plug in:

MSRP

Selling Price

Residual Value

Money Factor (rent charge, interest rate)

Length of lease

Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!

MODERATOR2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

9I understand that. However, if you want get an accurate understanding of the actual cost of the transaction, you need to know the implicit interest rate involved. This is like the true price of the lease. Let's say you agree on the value (or cost) of the car, the present value, the dealer then states the payment amount (they would calculate this using the "money factor" method), and you agree also on the value of the car at the termination of the lease. There is an interest rate that is implicit in this contract which represents the cost they are charging for you to use the car for the period of the lease. The present value of the car today equals the discounted fixed payment stream and the future value of the car at termination. Their method obscures this, in my opinion. But I haven't found anyone else who is interested in the alternative approach. I was wondering if anyone on the discussion had looked at this.

39Can we have updated numbers for April if they are out yet?

Also, I see people talking about the low residual plus the tax rebate raising the residual percentage. Can anyone show me how that's done? I'm sure I'm missing something here.

130,860The interest rate on a Chevy lease is right there... You don't really have to calculate it, because they give it to you. (Ally Bank uses APRs) The one thing you have to factor in for the lease vs. purchase, are the extra fees you pay to lease, the tax treatment vs. purchasing (sometimes better, sometimes worse), and whether the residuals are realistic. Sometimes, incentives come in the form of an artificially inflated residual. If you only want the car for the lease term, that's an incentive that is easily quantified, but goes away, if you purchase the car at the end of the lease.

True money factors can be converted to an approximate APR by multiplying them by 2400.

A lease is just an alternative method of financing a vehicle. If there were no extra fees, and the money factor/APR was identical to the purchase rate, and you knew for certain that the residual was going to be accurate, then then leasing would be exactly equivalent to purchasing (and selling at the end of the lease term).

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator130,8601.00% MF and 56% for 36mo, 15K/yr. $1571 lease cash.

These numbers are from ALLY Bank.

In this calculation ALLY is keeping the tax credit. Other banks (USBank) would also keep the tax credit, but they may have a much lower residual, and give a matching rebate ($6500 or so), to make up for it. The payment is likely to be similar, but if you are considering purchasing the car at lease-end, the latter type of lease program would be much better, as the residual will be lower.

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator39would also keep the tax credit, but they may have a much lower residual, and give a matching rebate ($6500 or so), to make up for it. The payment is likely to be similar, but if you are considering purchasing the car at lease-end, the latter type of lease program would be much better, as the residual will be lower.

So for a base $35k volt, there is $1571 taken off for lease cash ? If you were paying sticker, you'd be looking at $33,429

.56 is $19,600 (from 35,000)

$35000-19,600 = $15,400

$15,400 - 1,571 = 13,829

$13,829/36 = $384 plus tax/money factor and other fees. Looks like people are getting substantial discounts to get prices around and under $300

130,860Yeah... I wouldn't pay sticker..

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator9@[email protected] said:

Thank you for responding to my inquiry. I understand they are equivalent, but for some reason they are not negotiated the same way. Why? Can you explain to me in more detail exactly what a money factor is? And perhaps you could comment on a proposed method for negotiating a lease, below:

Prior to negotiating the lease you get information on the True Market Value (TMV) of the car if purchased. You then add in all the fees and taxes that you would have to pay. This gives you the total amount to be paid. They then give you a proposed down payment and monthly lease payment using their method (money factor), and somehow you derive a residual(salvage) value for the car at the end of the lease. You then calculate what they are charging in interest by determining the rate which discounts all of your payments to a sum equivalent to the initial amount. In finance this is known as the "Internal Rate of Return." This gives you all the information you need to negotiate a fair deal, TMV ,the interest rate, and the amount of your contractural payments. These are the actual costs of the deal.

Now, if the rate (IRR) implied in the quote is too high, say 6-10%, you ask for a lower down payment, a lower fixed monthly payment, or in the situation where you are sure you are buying the car at the end of the lease, a lower contractural estimated residual value.(Note that this IS a payment, because you either give them back the car, or pay them this amount in cash to own it outright.) Lowering any of these lowers the interest rate. Say they are offering deals with 0.9% interest; then ask them to lower your payments until you realize that rate. Does that make sense?

This method has the quite significant benefit of allowing a purchaser to compare deals which have different prices, payments and/or residual values. But, as in a purchase, you do have to start with a solid broadly accepted price for the vehicle, e.g. the Edmunds TMV or something related to dealer invoice.

39$20k car

$11k residual

You pay $9k over your 24,36,39 month lease. Your state varies over how the tax and money factor is applied to the payment.

130,860Yes.. as @Slimms noted, the residual is set by the lending bank, and also the base money factor (aka "buy rate"). As with a traditional loan, the money factor (or APR) is only negotiable down to the amount that the bank provides to the dealer. The dealer may mark up the money factor or APR for additional profit, and you can negotiate that down, but you can never go below the base rate.

In theory, you could shop for a better rate from another, independent bank, but those entities rarely have an incentive to sell you a vehicle, so their rates are usually not competitive with the captive finance companies. So, you are locked into their residual, and their base money factor, at best. The negotiable aspect of the lease is the selling price and the money factor (if marked up). As in every car purchase, you have to watch for added "extras" in the finance office, as this can markedly change any good deal for the worse.

The money factor is not that esoteric. It's actually a simple substitute for the APR, that allows you to calculate the finance charges with a simple calculator or spreadsheet, negating the need for a financial calculator.

The typical lease assigns a constant finance charge to each month, and does this by calculating the amount financed as a true average between the CAP cost and residual. So, if your CAP cost is $30K and your residual is $18K, then the average amount financed for the life of the lease is $24K. Why multiply the money factor by 2400 to get an equivalent APR?

100 X to convert it from a fraction to a whole number.

12 X to convert it from a monthly to an annual amount.

2 X to convert the (CAP + residual) to (CAP + residual)/2 (for an average of the two numbers)

2400 X the money factor to get an approximately equivalent APR

Did you get a good deal? Be sure to come back and share!

Edmunds Moderator6In Connecticut I have been offered the following in the month of April:

Dealer 1 (Reasonable)

MSRP: $36,965, 15K mi, 39 months, $395/mo ZERO down

Dealer 2 (Very high)

MSRP: $37,270, 15K mi, 39 months, $439/mo, $1300 down

39124,588Do you know the selling prices of the car at the dealer? That will have a material affect on the payment.

Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!

MODERATOR2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

3952,462Volts are outselling the Leaf, Prius Plug-in, C-Max & Fusion Energi, RAV4 EV and the Tesla. 60,000 sold since introduction in 2010. Not a huge number in the overall scheme of things but they're out there.

And yeah, owners should be posting. GM doesn't advertise the Volt on TV since their market is mostly online and on social media. (cnet)

39Base volt with safety 1

Sale price $32429

Residual of $22083.70

$1000 down to cover fees

12k, 36 months

$357.29 a month

39124,588What is the MSRP of the vehicle you're looking to lease?

Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!

MODERATOR2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

39