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2014 Chevrolet Volt Lease Questions

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Comments

  • MichaellMichaell ColoradoPosts: 90,605

    @anjoz said:
    All,

    So I'm about to go get the Volt! Here is what I'm getting. I'm in California BTW.

    2014 Red, Nav, Bose, Security 1, Heated Seats (No Leather). 37,665. Sale Price - 34,284 - 3750 (discount) = 30,534.

    Lease - 39 months/10K - 4K drive off - 254 + tax.

    Lease - 36 months/10K - 2K drive off - 299 + tax.

    They are calculating residual at 51%. I'm about to call them back for all the other numbers to plug in to an excel sheet.

    Do you guys think any of it is a good deal?

    How much of the $4K or $2K drive off is cap cost reduction? Do you know if this is an Ally sponsored lease?

    Did you get a good deal? Be sure to come back and let us know!


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    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • anjozanjoz Posts: 8
    edited September 2014

    I got it a little messed up while keying it in. So deal is:

    2014 Red, Nav, Bose, Security 1, Heated Seats (No Leather). 37,665. Sale Price - 34,284 - 3750 (discount) = 30,534.

    Lease - 36 months/10K - 4K drive off - 254 + tax.
    Lease - 39 months/10K - 2K drive off - 299 + tax.
    Lease - 36 months/10K - 2K drive off - 317 + tax.

    They are calculating residual at 51%. I'm about to call them back for all the other numbers to plug in to an excel sheet.

    I do not know the detailed numbers and I would be calling them to get it. I would say not much is going in to cap cost reductions.

    I would also assume that this is an ally sponsored lease. That seems to be the most common around here. But I can verify that as well.

    Given all that does that sound good or is it a rip off?

  • MichaellMichaell ColoradoPosts: 90,605

    @anjoz said:
    I got it a little messed up while keying it in. So deal is:

    2014 Red, Nav, Bose, Security 1, Heated Seats (No Leather). 37,665. Sale Price - 34,284 - 3750 (discount) = 30,534.

    Lease - 36 months/10K - 4K drive off - 254 + tax.
    Lease - 39 months/10K - 2K drive off - 299 + tax.
    Lease - 36 months/10K - 2K drive off - 317 + tax.

    They are calculating residual at 51%. I'm about to call them back for all the other numbers to plug in to an excel sheet.

    I do not know the detailed numbers and I would be calling them to get it. I would say not much is going in to cap cost reductions.

    I would also assume that this is an ally sponsored lease. That seems to be the most common around here. But I can verify that as well.

    Given all that does that sound good or is it a rip off?

    On the surface, they seem like pretty good deals. If you can get 1% or under the MSRP as your monthly payment you're doing well.

    But, I'm still curious about the drive off amounts. What state is this? Usually the drive off should be first payment, tags/registration, fees - maybe $1-2K at most.

    Get the breakdown of the drive off costs. Every $1000 you put down decreases your monthly payment by $28 on a 36 month lease and $26 on a 39 month lease.

    Did you get a good deal? Be sure to come back and let us know!


    MODERATOR

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  • anjozanjoz Posts: 8
    edited September 2014

    It is in California. They said the drive off includes all the fees and first month payment.

    I will have to wait till thursday as the guy I'm working with at the dealership is off for two days.

  • I've never leased a vehicle so completely clueless on what to ask. I've been quoted the following for a 2014 Volt with only upgrade is heated seats and safety 1 package. $33,500 $2800 down 36months 12K/yr $393. It's seems pretty apparent from what I'm reading that this is not a good deal, but I'm not quite sure how to negotiate. I have no plans on purchasing after the lease, so I don't care about the residual, etc. Any suggestions? I'm in No. Cal. Thanks, in advance, for whatever advice given.
  • kyfdxkyfdx Posts: 100,631
    orcagirl said:

    I've never leased a vehicle so completely clueless on what to ask. I've been quoted the following for a 2014 Volt with only upgrade is heated seats and safety 1 package. $33,500 $2800 down 36months 12K/yr $393. It's seems pretty apparent from what I'm reading that this is not a good deal, but I'm not quite sure how to negotiate. I have no plans on purchasing after the lease, so I don't care about the residual, etc. Any suggestions? I'm in No. Cal. Thanks, in advance, for whatever advice given.


    2014 Volt has 2.95% APR and 53% residual for 36mo, 12K/yr. Plus $3750 lease cash.

    The first place to start is to ask the selling price, net CAP cost, and why the two numbers are different (if they are). Then, ask how your $2800 is being allocated.

    Is the $33,500 the MSRP or the selling price?

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

    Edmunds Moderator

  • So after asking these and some other questions, the offer is: selling price = $33,955 before additional lease cap cost reduction incentives of $3,750, CAP cost = $27,300 (didn't explain the difference between these two amounts), residual = $18,958, now wanting $4,830 down (didn't answer the question re: how allocated) with $312.35 monthly payment (1st pmt. included in down). He says the money factor is 2.95. Should I keep digging, or does this seem like a good deal? Again, thanks for the advice.
  • kyfdxkyfdx Posts: 100,631
    orcagirl said:

    So after asking these and some other questions, the offer is: selling price = $33,955 before additional lease cap cost reduction incentives of $3,750, CAP cost = $27,300 (didn't explain the difference between these two amounts), residual = $18,958, now wanting $4,830 down (didn't answer the question re: how allocated) with $312.35 monthly payment (1st pmt. included in down). He says the money factor is 2.95. Should I keep digging, or does this seem like a good deal? Again, thanks for the advice.


    Is $33,995 the MSRP? That's important...

    The difference between ($33,995 - $3750) and the CAP cost of $27,300 is part of that $4830 that they want upfront..

    Can't give you an answer, until we know the MSRP (sticker price) of the vehicle. That's the bottom line on the government sticker.

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

    Edmunds Moderator

  • The MSRP is $35,770
  • kyfdxkyfdx Posts: 100,631
    orcagirl said:

    The MSRP is $35,770


    Using the parameters above, I get an approx payment of $289/mo+ tax.. Looks like about $2800 of that upfront money is used as a CAP cost reduction. That leaves $2000 for 1st payment, acq.fee, title/registration/doc fee .. Seems that all should be closer to $1400..

    Doesn't seem like a stellar deal..

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

    Edmunds Moderator

  • Hi. I'm looking to lease a Volt in Northern California. The dealer provided the following terms:

    $37,220 MSRP
    -$3,000 Discount
    $34,220 Selling Price
    $400 title/reg/fees
    $795 Acq Fee
    $655 Tax on Collected items
    $36,109 Total Cap
    -$3,742 Down/cap cost reduction
    -$3,750 Rebate savings
    ----------
    $28,617 Net Cap

    $4,000 due on delivery
    MF 0.00091%
    12,000 miles
    3 years
    54.15% residual=$20,155
    8.75% tax

    =$258/month payment

    This looked pretty decent, but acquisition fee and low residual seem to reduce the discount/rebate value.

    How does this deal look?
  • MichaellMichaell ColoradoPosts: 90,605
    ddjohns1 said:

    Hi. I'm looking to lease a Volt in Northern California. The dealer provided the following terms:

    $37,220 MSRP
    -$3,000 Discount
    $34,220 Selling Price
    $400 title/reg/fees
    $795 Acq Fee
    $655 Tax on Collected items
    $36,109 Total Cap
    -$3,742 Down/cap cost reduction
    -$3,750 Rebate savings
    ----------
    $28,617 Net Cap

    $4,000 due on delivery
    MF 0.00091%
    12,000 miles
    3 years
    54.15% residual=$20,155
    8.75% tax

    =$258/month payment

    This looked pretty decent, but acquisition fee and low residual seem to reduce the discount/rebate value.

    How does this deal look?

    When I plug in all your numbers - MSRP, net cap, MF and residual - I get a pre-tax payment of $280.95/mo for 36 months.

    Do you know which finance company this lease is through? We can only verify the numbers from Ally bank for Volt leases.

    Did you get a good deal? Be sure to come back and let us know!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • taye001taye001 Posts: 1
    edited October 2014
     I appreaciate you calling back, here is the quote on a standard 2014 Volt : base model

    Term 36 months
    Pmt including tax $313.05
    Total out of pocket $1948.40
    Miles allowed is 15,000

    Out of pocket is taxes and first months. 

    Is this a good deal?  Don't plan to buy car. 
    Northern california

    What are the rates now for volt in northern California?  Mf?  Apr?  36\15k

    Msrp: 34,995


    Seems like folks on here are getting better deals with the higher tier cars fully loaded. 


  • kyfdxkyfdx Posts: 100,631
    taye001 said:

     I appreaciate you calling back, here is the quote on a standard 2014 Volt : base model

    Term 36 months
    Pmt including tax $313.05
    Total out of pocket $1948.40
    Miles allowed is 15,000

    Out of pocket is taxes and first months. 

    Is this a good deal?  Don't plan to buy car. 
    Northern california

    What are the rates now for volt in northern California?  Mf?  Apr?  36\15k

    Msrp: 34,995


    Seems like folks on here are getting better deals with the higher tier cars fully loaded. 



    2.95% APR and 51% residual. $3750 lease cash.

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

    Edmunds Moderator

  • Would you please provide the numbers for the current national lease special for 39 months for both the 2014 and 2015 Volts, the residual, money factors, incentives etc. I'll figure out which one that I am getting for the cap cost reduction. Thanks as always.
  • kyfdxkyfdx Posts: 100,631
    sheepdog1 said:

    Would you please provide the numbers for the current national lease special for 39 months for both the 2014 and 2015 Volts, the residual, money factors, incentives etc. I'll figure out which one that I am getting for the cap cost reduction. Thanks as always.


    2015: 3.05% APR and 54% residual. $4400 lease cash.

    2014: 2.70% APR and 50% residual. $4400 lease cash

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

    Edmunds Moderator

  • Hello!

    Looking to lease a 2015 Volt, in Ashen Gray, with Safety Package 1. Here are the numbers:

    Market Value: $35,630
    Discount Savings: 4,275
    Vehicle Selling Price: 31,355
    Acquisition Fee: 595
    Total Cap: 31,950
    Rebate Savings: 4,400
    Net Cap: 27,550

    Base Payment: 275.55
    Monthly Tax: 24.80
    36 Month Payment: 300.35

    Doc Prep Fee: 80
    License/Title: 332
    Tire/Battery Fee: 8.75
    Tax on Collected Items: 403.20
    1st Payment: 300.35
    Due on Delivery: 1,124.30

    Rate: 0.00075
    Annual Miles : 12,000
    Residual % [35,630]: 51+2=53%
    Residual Amount: 18,883.90

    Tax: 9.00% TAX


    So, basically, 3-year lease at 36,000 miles for $300 month and $1,100 due at signing for 1st payment and drive-offs. Does this lease deal look legit? I have no plan to buy the vehicle when the lease ends (and there is nothing owed at end of lease if/when I walk away). Please let me know if this sounds like a solid deal. Thank you in advance!

    - DK
  • kyfdxkyfdx Posts: 100,631
    dkmny21 said:

    Hello!

    Looking to lease a 2015 Volt, in Ashen Gray, with Safety Package 1. Here are the numbers:

    Market Value: $35,630
    Discount Savings: 4,275
    Vehicle Selling Price: 31,355
    Acquisition Fee: 595
    Total Cap: 31,950
    Rebate Savings: 4,400
    Net Cap: 27,550

    Base Payment: 275.55
    Monthly Tax: 24.80
    36 Month Payment: 300.35

    Doc Prep Fee: 80
    License/Title: 332
    Tire/Battery Fee: 8.75
    Tax on Collected Items: 403.20
    1st Payment: 300.35
    Due on Delivery: 1,124.30

    Rate: 0.00075
    Annual Miles : 12,000
    Residual % [35,630]: 51+2=53%
    Residual Amount: 18,883.90

    Tax: 9.00% TAX


    So, basically, 3-year lease at 36,000 miles for $300 month and $1,100 due at signing for 1st payment and drive-offs. Does this lease deal look legit? I have no plan to buy the vehicle when the lease ends (and there is nothing owed at end of lease if/when I walk away). Please let me know if this sounds like a solid deal. Thank you in advance!

    - DK


    We don't have the December numbers for Chevy, yet... but, yeah.. that is dirt cheap. Hard to go wrong with those numbers.

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

    Edmunds Moderator

  • Great! Looks like I'm getting a new Volt! Thanks so much for your input!!

    - DK
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 62,419
    I got some December numbers from a dealer and he's putting the residual at 47% ($17,373).

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  • So I'm rather confused here. When this message board started last year, Ally was taking the published residual and adding $7500.00. This is the Federal Tax credit (for plug-in hybrids) that the car buyer would have received (when they filed their taxes) if they purchased the car. When leasing a car, the credit goes to the lease holder, Ally. So Ally was giving this back to the lessee since the Net Amount Capitalized is reduced by $7500.00 But this residual gets added back to the Net Capitalized when computing the money factor (monthly interest charge). So the Leasee is paying interest on this.

    In the most recent example posted on Dec 3, it appears that Ally has now reversed this and deducted $4400.00 off the sale price (the "Rebate Savings"), instead of adding the $7500.00 credit to the residual. So the lessee is not paying interest on the credit. But Ally appear to be keeping $3100.00 of the tax credit. This seems outrageous to me.
  • Sorry, I did not mean to make that last comment sound so harsh. It does seem strange to me, though. When I was looking at a lease from another manufacturer, their captive lease company would apply the entire federal tax credit as part of a downpayment.
  • kyfdxkyfdx Posts: 100,631
    cbuyinca said:

    Sorry, I did not mean to make that last comment sound so harsh. It does seem strange to me, though. When I was looking at a lease from another manufacturer, their captive lease company would apply the entire federal tax credit as part of a downpayment.


    We are all friends here.. :)

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

    Edmunds Moderator

  • jinocjinoc Posts: 7
    Given the large discounts, is anyone finding a great deal on a loaded 2014 lease? I'd think the leases may be better on the 2015 given the depreciation already on 2014's. I'm in Southern California - would like to see what payment would look like with $0 cap cost reduction for a 12,000 mi/yr lease for 36 months.
  • MichaellMichaell ColoradoPosts: 90,605
    jinoc said:

    Given the large discounts, is anyone finding a great deal on a loaded 2014 lease? I'd think the leases may be better on the 2015 given the depreciation already on 2014's. I'm in Southern California - would like to see what payment would look like with $0 cap cost reduction for a 12,000 mi/yr lease for 36 months.

    For the 2015 Volt, the GM Financial numbers for 36/12 are .00025 and 51% residual. $2800 lease cash.

    In order to model a payment, we would need to know both the MSRP as well as the selling price.

    Did you get a good deal? Be sure to come back and let us know!


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • jinocjinoc Posts: 7
    I'm hearing that the 2014's are being discounted by the dealer by $7k - not sure how the tax credit factors into a lease calculation on top of this discount. Overall, the MSRP would be about $39k, so selling price would be no more than $32k without the tax credit removed. This is for the remaining 2014's not 2015 model year.
  • ClairesClaires Chicago areaPosts: 1,222
    To discuss the latest lease details for the current model, please join us in the 2015 Chevrolet Volt Lease Questions forum.

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