Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

Chevrolet Volt Lease Questions

145679

Comments

  • b3nd3rb3nd3r Member Posts: 9
    edited September 2013
    duktruen,

    $3,000 down equates to about $83/mo (w/o interest), so you are paying $349/mo on a 36 mo/15K lease.

    Compare to the fact we just did $302.88/mo w/ $0 down on a 36mo/15K lease... on a $41,390 Volt.

    I would think you could do better, but I don't know the equipment level you are looking at for comparison.
  • duktruenduktruen Member Posts: 5
    Thanks b3nd3r, safety package one would be nice -- so we'd be looking at the same Volt. Our deal thus far was on the standard $39,995 model. We couldn't get the extra rebate for previous lease that you did...tax here in WA state is similar, 8.9%, so that puts us about $2,000 away from your deal, give or take a little? Sounds like we should keep shopping.
  • sudbsudb Member Posts: 2
    b3nd3r - You got a terrific deal.

    I am about to close the deal on a 2013 volt. Fully loaded with MSRP of $44,060. Lease: 36 months, 15k miles annually, $3,000 down, Ally smartlease $850 (don't know whether its worth it). Dealer is asking for $350 per month.

    I don't think that I will be able to get your kind of deal. But can try to get something closer.

    Considering I am putting in an extra $2650 down - for ease of calculation sake let's presume that it goes towards the extra options in this car. ($44,060 this car - $41,390 your car = $2,670)

    I think I will try to negotiate the price by atleast $1000 (that's $27 per month for 36 months).

    Can you give your opinion on this Ally Smart lease program? Is it worth $850. If not what's a good price for that?
  • b3nd3rb3nd3r Member Posts: 9
    Your math seems about right. I think there's more room in that deal, but the Labor Day cash ($500) expired today so you need to back that out.

    Can you get the conquest cash?
  • b3nd3rb3nd3r Member Posts: 9
    edited September 2013
    The SmartLease is a dealer add-on, so it has a huge profit built into it.

    Having said that, how abusive (historically) are you on your vehicles? If you are good about cosmetic maintenance, it's likely unnecessary insurance. If you are not, I would try to negotiate a discount. I've heard of people getting it for $600 or less.
  • duktruenduktruen Member Posts: 5
    New deals. :) Been going back and forth between Burien Chevy and Dave Smith in Idaho:

    Burien: Zero down on base demo model, $315 per month, 36 month. This one has 1,000 miles on it and is white, my least favorite color, but I wouldn't see much of it when driving. No extra

    Dave Smith: Zero down at $338 per month with safety package one (rear camera auto dimming rearview and rear parking assist), and comfort package (heated seats and leather trimmed steering wheel).
    Both are 15,000 miles.
  • b3nd3rb3nd3r Member Posts: 9
    edited September 2013
    I wouldn't worry about the dealer demo miles, as the lease mileage is typically calculated starting with the odometer reading when you take delivery.

    That's "Safety 1" package on the second vehicle, right? $575 + $275 for comfort = $850. That would be $23/mo or so for thoe options.

    I would think the first one should be $300/mo and the second one about $320, but those numbers seem better than your first attempt. ;-)
  • duktruenduktruen Member Posts: 5
    yes, safety one on the 338 per month, 0 down. I asked them to run numbers on 12,000 mile lease (which we could do) and that would bring it down to 314.60. Waiting to hear back on the demo at 12,000 miles. The discount I can't get is the current lease holder at $1,000. Not sure about the Labor Day cash.
    But so far I've just used what the other offer was to haggle...I think they'd have trouble moving the demo so may try for $300 a month or the equivalent at 12,000 and see what they say. thanks again. will post final numbers.
  • sudbsudb Member Posts: 2
    Looks like the 2013 volt is hard to get. Couldn't find the car with the options I am looking for. So, I finalized on a 2014 volt $39,715 MSRP, $3000 down, 15000 miles annually, 9% sales tax, and with a $850 Smart Lease protection. Negotiated to lease payment of $358 monthly (including tax). Don't know how good or bad, but I am just going with it now. And yes, there is a $1500 tax rebate. So effectively its $316 monthly.

    The dealer did mention that the Smart Lease costs them $700.
  • merugumerugu Member Posts: 1
    Hi,
    Great forum! Wish I had spent more time here before closing my deal today! Having some remorse but I suppose I have no recourse. Here's what I signed today:

    2013 Silver Base
    Safety 1
    Safety 2
    Comfort
    36 mo/12k
    Zero down
    First month no payment
    $327/month incl tax (8%)
    Ally Bank (no disposition fees)

    How bad should I feel?
  • b3nd3rb3nd3r Member Posts: 9
    I think there was some room left in that deal, but honestly that doesn't seem too bad at all.

    My experience from cruising this forum was that a super deal was $300/mo, 15K miles, zero down on a base car. I managed to squeeze a bit more by getting leather for that price, but I also had conquest cash and Labor Day cash in the deal.

    In your case, you have $275 + $575 + $595 in options above a base, for a total of $1,445 — that equates to another $40.14/mo in options. Granted, you have a 12K lease, but your payment is also less than the options alone would indicate.

    So, I wouldn't feel bad if I were you, especially if you got the car you wanted.
  • paperboycccpaperboyccc Member Posts: 93
    b3nd3r,

    Do you get any additional residual for the $1,445 in options added?
  • duktruenduktruen Member Posts: 5
    Closed our deal a few days ago. Thanks to input from "b3nd3r" got Dave Smith down to $299 for a base model with safety package one, 0 down, for 3 years at 12,000 miles. Flying to Spokane and dealer will pick me up at airport. Might have been able to get similar deal with local Seattle area deal but they just felt kind of sleazy. The whole car buying experience needs some kind of redo but so far I feel positive about our experience. Will let you know of any fine print issues after Wednesday! Right looking forward to driving the Volt back and trying out some charging stations on the way!
  • b3nd3rb3nd3r Member Posts: 9
    Marginally, one would assume there is added residual.
  • b3nd3rb3nd3r Member Posts: 9
    Agreed. In general, Chevy dealers need to take a page from Lexus and other premium brands. Not necessarily in terms of dealership amenities, but in how they approach the sales process.
  • brillskillbrillskill Member Posts: 1
    2013 base model ..3 year lease 30k miles 299 a month with everything rolled into the lease..first month and dmv down...21330 option to buy at lease end..from chevrolet of huntington long island..love the car and feel i got an excellent deal
  • gmcustsvcgmcustsvc Member Posts: 4,252
    Hello brillskill,

    Glad that you feel that you received an excellent deal on the vehicle you leased! If you have any questions or concerns, feel free to reach out to us. We'll be more than happy to help you!!

    Marlea Wilson
    GM Customer Service
  • hybcardhybcard Member Posts: 8
    Hi Folks

    I am new to leasing and am interested in leasing a 2014 for 36 months. Can any one please share their latest information on prices paid and with options.

    I am looking at the base model with just Navigation.

    Thanks in advance
  • sunray1sunray1 Member Posts: 3
    Hello all..

    I have never leased a car before, but looking around several sites (and this one), I am getting it... I think.. one thing that concerns me is when I actually give the car back at the lease end... how many issues do I need to be aware of at that time? I suppose I am talking about normal wear and tear on the car--I am very gentle on my cars..but can't speak for other people driving and scraping alongside!!

    Thanks all

    Ray
    Miami
  • sunray1sunray1 Member Posts: 3
    hI there..

    Please correct me if I'm wrong, but a lot of people are talking about this $7,500 tax credit... I know if you BUY a car, this tax credit only applies to your own personal income taxes..If you earn over, say, $40K a year you might get a little piece of that back...but earn any less...forget any credit whatsoever..

    But how does the 'credit' affect a lease/

    Any info?

    Thanks a lot
    Rya
    Miami
  • kyfdxkyfdx Moderator Posts: 235,200
    The bank that provides the lease gets the credit... and factors that into the lease price of the car..

    That's how you can lease a $40K car for $300/mo.. ;-)

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kathykwestkathykwest Member Posts: 2
    Hi -
    I'm looking for the 3 year residual value on a 2013 volt, standard. I'm working on getting a good lease deal and I've already gotten great advice from this site. Thanks.

    I'm in California.
  • kyfdxkyfdx Moderator Posts: 235,200
    .85% MF and 51% residual.... Looks like Ally provides $7250 of Cap Cost Reduction on this model...

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kathykwestkathykwest Member Posts: 2
    Wow, so 51% residual is the norm? That seems low. I did get that number from one dealer, but I saw 59% on one of the websites I was looking at.

    So is the .85% MF actually .0085 when calculating? I've seen folks on this site with better MF numbers of .001 and .0008. Any suggestions here?

    Lastly, can I take the 7500 federal rebate off of the retail price and then work a deal from there? I mean, they are getting that rebate, so I should be able to benefit from the entire amount, I would imagine?
  • rick4rick4 Member Posts: 15
    I stopped by the Chevy dealer today to get an idea what the Volt would cost me to lease for 36 months. I was really surprised by the way they calculated the payment. The msrp was around $36,800, but the residual was $14000 (it was listed as 40%) then they added the $7500 fed tax credit back into the residual. After all the numbers were run it was $396/mo incl tax (California tx)
    Does this sound like a normal way to do this? Is it a good deal? I know here is some room between invoice and the msrp to negotiate a little more. I am only looking for prem pkg and bose.
  • kyfdxkyfdx Moderator Posts: 235,200
    Well.. the residual is 51%, but they are taking nearly 18% off the MSRP from the start to account for the tax credit they are receiving...

    If they run the lease through a different bank, they may account for the tax credit in a different way..

    Ally uses percentages... 0.85% does NOT equal .0085... It's equivalent to .00035 MF (which is very low)

    ALLY uses a $7250 CCR credit, in lieu of the $7500 federal tax credit (they get the credit as owner of the vehicle). So, start your deal at $7250 less than MSRP and work down from there. (so, you almost benefit from the entire amount).

    Don't lose sight of the most important thing... your total cash outlay for upfront and monthly payments...

    regards,
    kyfdx

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Moderator Posts: 235,200
    A different bank can use a different calculation method.. As noted in post above, focus on the price... Nearly $400/mo. seems high, given what I've seen posted.

    There is a dealer ad in my local paper today for $249/mo. for 36mo/10K/yr, with zero down... on a base 2013 model.. I'm sure you would end up with about $1000 upfront and then sales tax of around $20/mo. on top of that, but that's a long way from $400/mo... (this is in Ohio)

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • zoderzoder Member Posts: 6
    edited September 2013
    It's going to also depend on how many months and miles you are leasing for. I leased mine 3 weeks ago for 39 months / 10000 miles a year.

    It was through Ally and I got a 55% residual. Money factor was the .85% (.00035) with my top credit.

    For reference it was $332 a month 0 down with tax. MSRP 44605.

    To be fair, it should have been a little higher. Dealer made a mistake and used 56% residual on the lease when I signed. They ate the mistake for me when Ally notified them which they didn't have to do.
  • zoderzoder Member Posts: 6
    Are you looking at a 13 or 14?

    You should take the MSRP. Subtract out the negotiated price you work out with the dealer. Then subtract any GM incentives from that price which you can find here on Edmunds. Add in your dealer and state fees for your cap cost. If you are offering a trade and/or putting any money down, subtract it from that final price.

    The tax credit is being added to the residual which is why people are getting mid to high 50s depending on when they leased and the terms.
  • kiranikirani Member Posts: 5
    Hello,

    I got my Chevy Volt Lease on Aug 30. The dealer did not offer me Smart Lease protection plan at the time of signing the paperwork. Is it possible to buy the Smart Lease protection plan now? I would be interested in knowing what kind of price others have paid for this protection? My lease is thru US Bank and I don't see any information on their website about this plan.

    Thanks,
  • rick4rick4 Member Posts: 15
    I'm looking at a 2014. So if they add the tax credit to the 40% residual it bumps it to around 58 %. I guess its another way to calculate the lease. I just haven't seen it done that way.
  • rick4rick4 Member Posts: 15
    36 months/15k yr
  • zoderzoder Member Posts: 6
    Since you are in CA and are looking for a 2014 you might want to contact Keyes in Los Angeles. I know they've been advertising $3000 back of invoice on the internet for the 14s the last few weeks. The invoice price with the options you are looking for is $36012. So you'd be looking at $33012 + dealer and state fees for the lease.

    You should have the dealer you want to work with run it through both Ally and US Bank and see who offers the better terms.
  • hybcardhybcard Member Posts: 8
    I got a recent quote of around 385$ including all taxes for a 15k/36 months on a base 2014 model.

    Is this a fair price in Bay area, CA?

    Thanks
  • zoderzoder Member Posts: 6
    What's the cap cost you were quoted? Also residual rate and money factor? how much in fees are being added on?

    Seems a bit high.
  • hybcardhybcard Member Posts: 8
    Thanks

    I am new to leasing and hence I primarily have focused on the monthly payments for a 3 year lease and 12k miles minimum.

    Based on the articles that I have been reading in this excellent forum, anywhere around 320$ seems to be the price for a base 2014? Any thoughts?
  • io8ihe1io8ihe1 Member Posts: 3
    Was quoted a lease deal for a Volt today:

    MRSP: 44545
    $331/mo (tax incl), $0 down, 36mo, 12k

    Curious how that deal rates compared to other current offers. Please grade this deal.
  • zoderzoder Member Posts: 6
    To be honest, I don't know what residual value the banks are using on the 2014s so I can't give you a definitive answer
  • zoderzoder Member Posts: 6
    Looks like a good deal to me. Mine was 44605 MSRP and I paid 332 w tax for 39 months
  • aeaveryaeavery Member Posts: 1
    If you don't mind--where did you get that quote? Seems like a pretty good deal.
  • mars11mars11 Member Posts: 1
    Seems like a pretty good deal. Can you share the who's the dealer is?
  • bigbutrbigbutr Member Posts: 111
    Is that deal on a '13 or a '14?
  • io8ihe1io8ihe1 Member Posts: 3
    I ended up signing my lease this evening. I benefitted from the last day of the month, I think. I'm very happy.

    My Deal:

    $222/mo w/tax, $0 down, 12k, 36 mo. 2013 Volt Dealer Demo, had 2100 miles on the vehicle. White with black leather, nav, all the toys. Cincinnati, OH.
  • kyfdxkyfdx Moderator Posts: 235,200
    Wow.... that's cheap!

    Which dealer in Cincinnati?

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • bbqman1bbqman1 Member Posts: 1
    I'm in Cincy and looking for that kind of deal. What dealership and do have any more demo to lease.

    Thanks
  • casualsurfercasualsurfer Member Posts: 3
    edited October 2013
    Here's what I got - not as good as others, but I was happy with it (Indianapolis):

    2013 Volt Cyber Grey Base
    15K miles/year
    39 months
    $310/month including tax
    $0 down except 1st month + TTL fees
  • bigbutrbigbutr Member Posts: 111
    Who did you finance the lease through?
    Also, when the issue of the tax credit came up, did the dealer offer it or was it the leasing company that took that amount off. I'm trying to head off any issues when I go into the dealers to look for one this weekend.
  • casualsurfercasualsurfer Member Posts: 3
    Ally Bank.

    The discounts weren't all disclosed to my disappointment. You get $7250 for the federal tax credit (instead of $7500).

    If it didn't make a lot more short term financial sense to lease on a monthly basis I may have elected to buy. Think about it: a 2013 Volt has 5K plus 7500 rebate, add dealer markdown (or ask them for GM supplier discount - they don't check anyway), you end up with $14K at least of markdowns from the base price.
  • chasm2chasm2 Member Posts: 2
    edited October 2013
    I'm looking to lease a Volt here in South Florida. My local dealer has provided the following:

    2013 Base Chevy Volt
    MSRP: $39,995
    Selling Price (after discounts): $32,895
    Tax, Tag, Fees: $3551 (includes $699 dealer service fee and $400 tag)

    36 Month lease, 12,000Miles/yr
    Cash Due: $2000
    Payments: $319/month

    This seems rather high to me for a base 2013. Any thoughts?

    Thanks,
    Charlie
  • casualsurfercasualsurfer Member Posts: 3
    That seems high.

    Here's my deal (Ally Bank)
    Base 2013 Volt w/leather steering & heated seats
    39 months
    15K miles per year
    $310/month (tax included)
    $0 down except TTL & first month (~$980 in my case)

    Don't get screwed.
This discussion has been closed.