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Chevrolet Volt Lease Questions

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  • bduncan504bduncan504 Member Posts: 1
    edited May 2012
    What would the lease terms and incentives be on the following:

    MSRP: 44170
    Miles 20k / year
    w/o navigation?

    vs.

    MSRP: 45215
    Miles: 20k / year
    with navigation

    Would either of these qualify for the waiving of the first months payment, or because of the high miles, is this not an option?

    Thanks.
  • sheepdog1sheepdog1 Member Posts: 36
    Hey carman, You have really helped me over the years. What are the current numbers for a 36 month lease, 15k a year in Florida. I saw your earlier post of 1% rate but the lowest seems to be 1.69%! Residual 58%. Is there $1000 Saturn Owner cash on the Volt? thanks :)
  • mgreenfieldmgreenfield Member Posts: 1
    I know this is an old post, but I'm trying to figure out my own lease offer. I don't see how 411/month is a good deal. NC-driver1 posted the following:
    1. MSRP $43,635
    2. Negotiated Price $41,060
    3. Cash Lease Incentive $2675 - used the cash incentive from your Jan 29 post
    4. Refundable Deposit: $197
    5. Acquisition Fee: $890
    6. Residual value 60%
    7. MF 0.00046 or 1.1% interest rate
    8. 3% Sales Tax

    But what about the $7,500 federal tax rebate. Doesn't the leasing company get that? If so, shouldn't the price of the vehicle be reduced by $7,500, which would lead to substantially lower lease payments (like by half)?
  • newyork4menewyork4me Member Posts: 6
    Car_man,

    Does this apply to Ally leases on HOV volts in California too? My dealer's lease workup shows the rebate is only ~3600 and has a security deposit in it too. Is this not correct for SoCal this month?

    Thanks!
  • vaguy79vaguy79 Member Posts: 13
    edited May 2012
    I have been in the market for a Volt and was offered the following deal:

    MSRP: 44575
    Negotiated Price: 40834.11
    Residual: 57% (or 59% with 12k/year)
    ----Salesperson states that the residual goes down a percent because of navigation.
    Interest Rate: 2%
    Tax Rate in State: 7%
    Aquisition Fee: 795
    Miles A year: 15,000

    His payements comes to 441/month for 15k year and 416 for 12k/year. I keep running the numbers through a lease calc and it seems like his numbers are off. Additionally, I believe the interest rate is too high. This is a lease through Ally, no money done, no security dep., and first payment waived. Any thoughts?

    Thanks!
  • thematchthematch Member Posts: 2
    Any updates on what the lease terms are on a CA HOV Chevy Volt.

    I was hoping to know what the current purchase price, residual, money factor, money down and mileage is.

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited June 2012
    Hey sheepdog1. I'm glad that I've been able to help you out.

    Ally's current base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Volt with 15,000 miles per year in Florida are 1.0% and 58%, respectively.

    There is a $4,445 cash incentive on leases of this car through Ally. The $1,000 for current Saturn owners is available on top of that.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mgreenfield. On leases through Ally, the bank pockets the $7,500 cash incentive and it uses it to artificially inflate the Volt's residual value. The realistic residual value for a used Volt several years down the road is nowhere near the percentage that Ally is using.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi newyork4me. GM's cash incentive on leases of the Volt through Ally is $4,445 for non HOV and $3,370 for HOV models.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi vaguy79. I think that you can do better than this on the Volt right now. First of all, Ally's base lease rate on a 36-month lease of a 2012 Volt is only 1%, not 2%. If your credit is in good shape the dealer is marking your rate up on you.

    Also, GM is providing a $4,445 cash incentive on non-PCV Volts through Ally right now. You should be able to have that entire incentive deducted from your car's price and then you should be able to eat into part of the $1,500 dealer gross on top of that.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi thematch. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Volt HOV without Navigation with 15,000 miles per year are 1.0% and 58%, respectively.

    There is a $3,370 cash incentive on leases of this car through Ally.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • oregunguyoregunguy Member Posts: 9
    Looking this weekend at 2012 volt with premium pkg + nav. 36month lease

    MSRP 43030
    neg price (TMV) 41316
    +dest 850
    + aqu fee 795
    - incentive 4445
    - 1500 (chev owner coupon)
    total 37016
    residule on 15k/yr w nav 57%; 1% interest
    No sales tax here :)
    I run the numbers and get $ 372.76/mo
    $13419 total cost over 3 years
    anyone see any errors?
    I like to have my realistic best deal in my head before I go out to the dealers. Thanks to everyone on this site , always very helpful.
  • bacchusmbacchusm Member Posts: 5
    edited June 2012
    Any ideas when the 2013 Volt is coming out or we can order one from the factory?

    ************** I saw this from Magic Boy....

    MSRP: 45230
    $1072 due at signing (They told me 1000 but in the deal there was $72 left so instead of paying it over 36 months I put it in the cash down)
    10,000 miles per year
    36 months
    I added the Bumper to Bumper Warranty... It has a name that I can't remember it. Basically was an additional $625 and they waived the $425 security deposit so a net increase of $200.
    Base Monthly Payment $410
    After Taxes: $435

    I went to look at one. The car was fulled loaded with Nav, Leather, carmera Park Assist etc.. and the 'best price' they gave me was $443 plus Tax was $481.00 Same price car. But the kicker was they wanted $2,500 down! I am in California. Is there a way just to get the best price? Do I hire a Car Broker? Car man , what price do I go in with?
  • thematchthematch Member Posts: 2
    Thank you.

    Do you know if the lease includes or excludes the security deposit like the posted lease special for non-HOV.

    Also, if the dealer is only giving me a $2,900 CCR, I'm guessing he's pocketing the $470 difference, correct?
  • rdean9999rdean9999 Member Posts: 2
    Hi Everyone - I've been a reader for a while and I'm about to take the plunge I think. I was offered the following deal - not sure of specifics like what they are calculating for residual etc. but here's what I received:

    36 Month Lease
    MSRP 44,625
    Zero Down
    15k Miles Per Year
    $417 / Month including sales tax (7%)
    So I suppose the base monthly rate would be $390.

    From what I can see, this seems like a good deal - am I missing something? Any thoughts would be greatly appreciated. By the way, I live in GA - not sure if that matters. Thanks!
  • magicboymagicboy Member Posts: 3
    I haven't looked at recent lease deals since I got my Volt back in March, but these seems like a better deal then I got back in March.

    I pay about $417 after taxes (6%) but I also had to put $1000 down and I only had 10k miles per year on my lease.

    I think my total price might have been a little higher though. I think my MSRP was around $45300. It was fully loaded and included a cargo net (not that I wanted it).
  • rdean9999rdean9999 Member Posts: 2
    Thanks for the super fast reply! I feel pretty good about it - I just hope my credit score is high enough to qualify. I've never made late payments on anything but I think my score is only in the low 700s. I've tried to hold off on any dealership pulling my credit until I score a decent deal on paper.
  • phaworthphaworth Member Posts: 20
    Good deal. I pay $417 plus tax and 12K miles a year. I would take it if I were you.
  • abtladyabtlady Member Posts: 20
    edited June 2012
    I'm in Illinois and have starting doing the research on leasing a 2012 Volt. I would like to know if if this is a good deal or not. I personally think I can do better. This lease is for 10K a year and we only drive about 8K!

    MSRP is 42,085 with premium pkg and camera, no nav
    Residual is 25,671 (61%)
    Interest Rate is 2.0%
    Rebate is $4445
    Sales Tax is 3215 (7.75% I think)
    Amt. Down is $906
    and my monthly payment would be $474

    I think I need to negotiate the price a little better maybe down to 40500 and also the interest rate down too.

    This newbie needs help but I'm learning tons of things on this board! Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome thematch. I believe that Ally is currently waiving its security deposit requirement on leases of the 2012 Volt.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • brysobryso Member Posts: 1
    Hello all - it looks like Chevy is currently promoting a Volt lease with the following terms:

    $369 per month
    $0 down
    12K miles per year
    Tax, title, and dealer fees excluded

    Can anyone who leased under these terms share their experience? I'm interested in finding out what my all in cost would be. I'm in California so I know a high sales tax will apply, but not sure what I should pay for dealer fees, for example.

    Thanks much.
  • abtladyabtlady Member Posts: 20
    We did lease a new Volt last Saturday and ours was only $345 per month since we got a 10K lease for 36 months. However, our dealer included the tax, title, and dealer fees with that.

    We leased at Castle Chevy on Villa Park, IL and are super happy with everything they did. The car has the premium package the rear camera and sensors and the upgraded wheels.
  • solnsoln Member Posts: 1
    I just returned from my local Chevy dealer in Orlando. I stopped in to buy 2 Volts, one for me and one for the misses. I saw all the ads online first about the Ally special. We picked out 2 with a MSRP of around $45k.

    Once I got into financing things went way wrong. They came back with a lease of $1k down & $625 per month for just 1 Volt (12k miles) without credit history. I laughed and said you must think I'm stupid.. I asked what happened to the Ally special, the reply was "oh that's just for the base model".. So $5k in options adds 75% more to they payment? Yep was the answer. Needless to say we stood up and walked out. Oh.. and plus they were giving us 20% less than KBB on our trade.

    What happen to fair - not at Courtsey Chevy on West Colonial Dr.

    Anyways can someone recommend a fair Chevy dealer in Central Florida that would honor rates discussed on here?

    Thanks
  • kennesawkennesaw Member Posts: 3
    edited June 2012
    Sorry you had a bad experience. We leased a Volt $45,655 msrp - terms printed on card in window, great dealership but you have to drive to No. Georgia for it.
    36 month / 10,000 miles per year, No down with Ally top tier credit, but we did buy the Lease Damage Insurance up to 5K in damage for an extra $500 cash. Probably didn't need it, but it's peace of mind.

    $412/month including 6% sales tax and $0 down
    Amount advertised on their sale card in window, no gimmicks.

    Good luck - they had 4 available yesterday.
  • casegixxercasegixxer Member Posts: 2
    I think I got a pretty good deal today.

    2012 Volt with premium pkg and rearview cam pkg

    MSRP $42085

    15k/yr

    0 down

    $364/mo + taxes, which brings it to $389.50/month.

    Tax, title, dealership fee, destination / acquisition fee all included !

    Residual $24409

    I live in GA.
  • llistakerllistaker Member Posts: 1
    From another Volt forum (http://gm-volt.com/forum), Stingray Chevrolet in Tampa has great deals on Volts and people in that forum seem to like their experience with that dealer.
  • mwfromva75mwfromva75 Member Posts: 4
    What am I missing? 364/mo X36 months = 13104. MSRP is 42085 with a residual of $24409 which is a difference of $17676.

    $17676 - 13104 = 4572. Where is the other $4572 coming from??? I know about $1500-2000 is price above invoice...what about the rest??
  • casegixxercasegixxer Member Posts: 2
    Difference in price is part of the rebates offered by GM. That is what my invoice says.
  • mwfromva75mwfromva75 Member Posts: 4
    Any info on how much these rebates are? Are these the Ally rebates from the government??
  • kennesawkennesaw Member Posts: 3
    GM/Ally gets the Fed Clean Air tax break (goes to you and I if purchased) but not the whole amount I was told. That's where the $4700 in Ally incentives/rebate called "Cash Received" on the lease contract comes from.

    Mine was fully loaded and w/no down the pymt is around $400. Can't beat that for a loaded new car and haven't bought any gasoline yet. The full charge at .12 cents/kwh is about a buck and a half, but if you drive less miles, it doesn't require a full charge. There are retailers starting to put EV fast charge units in the parking lots here in Kennesaw and Marietta, GA which provides free charging - pretty cool.

    Go buy or lease one. It's a very cool car and everyone who sees/rides in it loves it. Of course there are always the questions - what happens when... which were the same ones my dealership patiently answered before I took the plunge.

    Kennesaw Kenn
  • mwfromva75mwfromva75 Member Posts: 4
    edited July 2012
    OK folks. I am supposed to go Saturday to sign papers, but this lease deal is starting to seem fishy, especially comparing to others, please offer input!

    MSRP - $45740
    PRICE - $43982
    Money Factor - 1.5% (I thought it was 1% but he said that's only for the advertised $39995 model)
    Residual - Approx $28542 (when I did the math it came out to 62.4%)
    VA charges 3.19% sale tax (off of sale price of $43982 - about $1410)
    Acquisition fee of $795 (where did this come from??)
    Security Deposit of $400
    Dealership processing fee - $379
    DMV fees - approx $60
    Capital Cost Reduction of $5045

    I qualified for top tier credit.

    I am putting about $2600 down on the lease and the payment came out to $393/mo.

    I know this is the top of the line model (with an extra $1k for paint...it's the only color they have that I like), but $393 AFTER $2600 down seems like a bit much to me.

    Thanks in advance for any input!
  • vaguy79vaguy79 Member Posts: 13
    I heard the CCR has been upped to 5045 and the residuals remained the same. However, are the security deposit and first month waiver still in effect?

    Thanks
  • mwfromva75mwfromva75 Member Posts: 4
    No. According to the 3 dealerships I talked to today, Security Deposit and First Month is the only things due at signing.
  • eat_my_voltageeat_my_voltage Member Posts: 2
    Blk w/pol. wheels, mylink,bose,leather,camera/park assist
    43275 msrp
    40775 sale price
    -4445 ally cap reduction
    -60% residual
    1% apr
    $375 down (lic and title fees)
    $327/month for 35 months
    No sales tax here in OR. Woop! Woop!

    Thanks ya'll for the info share...saved me about $1700 from dealer's first pitch...and I love this car!! I'll be back in 2015 to buy gen 2.
  • vaguy79vaguy79 Member Posts: 13
    I see Chevy is offering a 24 month lease now. Car_man do you know what cap reduction Ally is kicking in, the lease rate, and residual is for a 24 months lease?

    Thx
  • rmgarrett3rmgarrett3 Member Posts: 2
    I am looking at a 2012 Volt with an MSRP of $43K from a dealer in Dallas. I am confident that I can get him down to $41K. Any feedback on what kind of lease I can negotiate if buying in the next 7 days given these variables? My credit score is > 800 if it makes a difference.
  • tridacnatridacna Member Posts: 1
    I believe the MF is multiplied by 2400 to get the interest rate.
  • iggsoiggso Member Posts: 31
    $42,085 MSRP
    Zero out of pocket $324 per Month for 36 months.
  • rmgarrett3rmgarrett3 Member Posts: 2
    Did you trade in your current vehicle? Not doubting your numbers but they just don't jibe with what I've seen in TX. I have friends that are savvy car buyers that have leased here and in LA and none have seen the sub-$400 deals referenced on this form. Even if I plug in 60+% residuals and 1% APR - neither of which are currently available in TX via Ally - the numbers are well higher than what is referenced here. Just curious where you live and how you are getting such an incredible deal.
  • eecpeeecpe Member Posts: 1
    Hey there fellow Orygonian! Can you direct me to where you got this deal? I have been looking around near the PDX area and I have received some really varying quotes - differences came from dealer costs and add-ons.

    Thanks!
  • orbm1orbm1 Member Posts: 3
    edited July 2012
    I am about to close on a Chevy Volt, with premium package (no navigation). MSRP $42,415

    I have been offered:

    $1,200 down incl title, plate, and reg)
    $306 incl taxes per month
    24 months
    15,000 miles per year
    I was told the money factor was 1%
    Residual 67%

    What do you think?
  • eat_my_voltageeat_my_voltage Member Posts: 2
    good to know my deal is still decent 3 wks later. more time will tell though as it seems likely the deals are really going to sweeten up come aug-sept as the model year closes out after a slow start to yearly sales goals and now a spluttering economy. July's 24 month lease may be a taste of what will come... I'll call shenanigans when Ally roles out a 12 month lease with the tax credit applied such that some of us get to drive a Volt free for one year. :sick: So, stay dispasionate and don't settle with less than a great deal now.

    while the variation in deals between local lots at any given time is small relative to level shifts that might occur over the next two months, which local dealer will deal best varies as a function of current and pipelined inventory, where the sales staff is wrt end of month/quarter sold unit goals, etc.

    my dealer is in pdx area, so you should do at least as well by pitching to the one with the highest inventory in the fourth week of the month. be willing to walk away and if they don't later call you back with acceptance, I'd just repeat at end of Aug and again in Sept. given the dark clouds on the economic horizon.
  • iggsoiggso Member Posts: 31
    edited July 2012
    No trade. The lease is only 10,000 miles. East coast.
    Volt includes 36 months premium onstar - which is a nice value.
  • reboot2012reboot2012 Member Posts: 1
    Does anyone have credit score info about the cut-offs for the best Volt lease offers (through Ally), and their minimum credit scores to secure a Volt lease?
  • happycamper7happycamper7 Member Posts: 2
    I learned a lot from this forum so wanted to share my experience. Thanks!

    2012 Volt with Navigation, Park Assist/back up cam, and Premium trim package
    36 month 12,000/year lease

    MSRP on my options: $45,683
    Actual Purchase Price: $43, 124 (Total Confidence Price per https://www.gmsupplierdiscount.com/ip-vpp/ )

    Residual: 59%
    Money Factor: 1%
    Lease Fee: $695
    Tag Fee: $118
    Doc Fee: $200
    Cap Cost Reduction From Ally: -$5,045
    Money Down: $0 (I paid $847 to cover a refundable deposit and first payment)

    Monthly Payment: $386 ($422 with Virginia sales taxes rolled in)

    I love the car and my commute is about 30 miles round trip so I will buy hardly any gas for three years. Also, came with three years of Onstar and 6 months of sat radio free. Be sure to call your utility company as well as SPX Home Charging (https://homecharging.spx.com/portal/) to see if there are incentives in your area. I was able to get the charging station completely free including installation.
  • ven88ven88 Member Posts: 1
    Hi all - has anyone found a good Volt lease deal in Ohio recently?

    Many thanks!
    Jonny
  • orlemorlem Member Posts: 2
    We are looking at buying a 2013 Volt and I went in and test drove one. Love it. Spoke to the dealer about leasing options. I drive around a 100 miles for work each day and am looking for around a 35000 mile/ year high mileage lease. one of the dealers mentioned "impossible" and i should opt for buying the car. Since I'm pretty sure I will be looking for a new car in 3-4 years I'm thinking a lease would be a better option. Do we have any high mileage lease options in Southern California for a Volt? or is this just not possible?
  • tgaydoshtgaydosh Member Posts: 4
    What are the current lease incentives on a Volt in CT?
  • peterindbpeterindb Member Posts: 2
    edited July 2012
    Hi, there,

    Just leased a Volt with the help of this forum and thought I'd also share what I experienced (A smooth process at Selman Chevy at Orange, CA.)

    Model: 2013 Black with Premium Package, Bose audio.

    MSRP: $42480
    Price offered: $40498
    $ up front (including 1st lease payment and security deposit): $ 1200
    Residual: 67%
    Lease Term: 36 months @ 12,000 miles/yr.
    Interest rate: 1.35%

    Monthly payment: $366/mo + tax

    I did the initial negotiations via email with their internet fleet manager. The offered price (almost 2K off MSRP) got me in the dealer door. Of course when they found out I wanted to lease, they offered up the monthly payments (low $400's) without showing me the other relevant numbers at first. I Was able to get the payments down as soon as I asked for the residual and the money factor numbers behind their calculations.

    Love the car so far, Build quality is indistinguishable from import, and the thing has some zip.
  • sport73sport73 Member Posts: 1
    Thought I'd share my experience:

    2012 Chevy Volt Loaded with Premium Leather Trim, Navigation, Bose, Rear Park Assist, polished wheels...

    36 months; 15,000 miles/yr.
    $2500 down.
    $320/mo. including FL tax

    Don't really care what they valued the residual at as I have no plans to purchase at lease end. Only downside was having to suck up the vehicle's red accents.
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