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2014 Chevrolet Volt Lease Questions

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Comments

  • xkindxkind Member Posts: 16

    What would the residual be without the federal tax credit for 36mo, 10.5k? Also what APR or MF can I expect in WA state?

  • kyfdxkyfdx Moderator Posts: 235,200

    @xkind said:
    What would the residual be without the federal tax credit for 36mo, 10.5k? Also what APR or MF can I expect in WA state?

    2014 Chevy Volt, 36mo, 10K/yr: 1.00% APR and 61% residual. $2240 lease cash.

    Subtract 1% from residual if equipped with UHQ (Audio and NAV pkg).

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  • xkindxkind Member Posts: 16

    Thanks, @kyfdx

    I went into the Chevy dealer today in Kirkland WA and test drove a 2014 Volt. Great car.

    I asked for some figures for a 36mo, 10.5k/yr lease. They quoted me a MF of .0004 (which is the same as 0.96% APR), $2240 lease cash, and a $750 USAA rebate as well. They said the residual was 40%.

    I asked how the $7500 federal tax credit was applied to the loan. They said they work with 3 different banks. One (USBank, I believe) changes the residual to be 57% instead of 40%, another (Ally, I believe) hard-adds $7500 to residual. None apply the credit as cap cost adjustment.

    By my math, hard-adding $7500 to the residual works out to be a better deal that 57%, so I guess I should go with the bank that does that.

    He also said that all three banks want a down payment.

    Before I even mentioned price, he said their price is "$2000 below invoice." "You can check our website," he said, "just replace the $1000 rebate for a new car with $2240 for a leased car and then the numbers will be correct."

    So I checked the website, and sure enough the "internet price" was 31,599, which is $2000 below invoice (33,628), but it says the price "includes $1000 GM Rebate and $750 USAA Rebate", so that means it's really only $279 below invoice (31599 + 1000 + 750 = 33349.) Edmunds says the true market value in my area is 32763 before any rebates; Truecar says the average paid before rebates is 33248, so their price is still higher than both of those. Is it worth haggling?

    He said that he could only guarantee these figures until the end of the month. As far as my time-frame, this month is o.k., but really I'd rather start the lease in early September. Does it really make a difference? Is it at all risky to wait? Does my willingness to wait a month or two increase my bargaining power?

  • kyfdxkyfdx Moderator Posts: 235,200

    If you are leasing near the end of the model year, it's always risky. Because, at some point, leasing options will disappear on the 2014. Will it be next month? No idea, but it could be..

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  • xkindxkind Member Posts: 16
    edited August 2014

    Thanks, @kfydx.

    I've looked at the differences between 2014 and 2015 Volts, and there is a perhaps a small, undocumented increase in range for 2015, and the (overpriced) option to use it as a wifi hotspot (who cares). Unless I'm missing something, the models are basically the same. If this is true, the most important factor for me is cost.

    Some of the lease guides I read say that the best time to lease a car is right when the model becomes available because that is when the residual is the highest.

    What is the chance that when the new residual values come out in September, leasing a 2015 will be cheaper than leasing a 2014 because of the higher residual?

    Another question--the lease guide I read said you never have to pay a down payment on a lease if you don't want. Why did the dealer say the banks required it?

  • MichaellMichaell Moderator Posts: 240,145

    @xkind said:
    Thanks, kfydx.

    I've looked at the differences between 2014 and 2015 Volts, and there is a perhaps a small, undocumented increase in range for 2015, and the (overpriced) option to use it as a wifi hotspot (who cares). Unless I'm missing something, the models are basically the same. If this is true, the most important factor for me is cost.

    Some of the lease guides I read say that the best time to lease a car is right when the model becomes available because that is when the residual is the highest.

    What is the chance that when the new residual values come out in September, leasing a 2015 will be cheaper than leasing a 2014 because of the higher residual?

    It's possible, but nobody knows for sure until the numbers are released. The problem is that the selection of 2014's may be quite small by that time.

    Another question--the lease guide I read said you never have to pay a down payment on a lease if you don't want. Why did the dealer say the banks required it?

    We recommend against making a down payment on a lease - if the car is stolen or totaled, you are out that money.

    In order to qualify for lease specials, the finance company may require a customer 'contribution' to reduce the cap cost. You should be able to negotiate that out of the deal, so long as you understand that it will increase your payment - $28/mo for every $1000 on a 36 month lease.

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  • kyfdxkyfdx Moderator Posts: 235,200

    @xkind said:
    Thanks, kfydx.

    I've looked at the differences between 2014 and 2015 Volts, and there is a perhaps a small, undocumented increase in range for 2015, and the (overpriced) option to use it as a wifi hotspot (who cares). Unless I'm missing something, the models are basically the same. If this is true, the most important factor for me is cost.

    Some of the lease guides I read say that the best time to lease a car is right when the model becomes available because that is when the residual is the highest.

    What is the chance that when the new residual values come out in September, leasing a 2015 will be cheaper than leasing a 2014 because of the higher residual?

    Another question--the lease guide I read said you never have to pay a down payment on a lease if you don't want. Why did the dealer say the banks required it?

    Residuals might be higher on the new model... but, the money factors may be higher, as well.. Also, selling prices will most certainly be higher. That's the three-legged stool of leasing, and a good lease deal takes all factors into account (money factor, residual, selling price or discount).

    The best lease deals are on vehicles that are being incentivized to create low lease payments. Residuals may be highest when a car first hits the market, but that doesn't necessarily translate into low lease payments (it might, but not necessarily). I'd say the chances of the 2015 being cheaper to lease than the outgoing 2014 to be very small.

    I haven't heard of banks requiring downpayments from lessees with good credit, though banks do put a cap on the amount financed relative to the MSRP. If you are rolling over a lot of negative equity, or purchasing a lot of extras in the finance office, a downpayment may be required. Maybe they just require a downpayment to get to the monthly payment you desire?

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  • xkindxkind Member Posts: 16

    There is a discrepancy in the quotes I am getting for residual for a 36 month lease, 10.5k miles. @kyfdx , you say 61% (I assume that is Ally), but they told me 57%.

    Also, does anyone know the base residual for 10.5k/36 months for USBank before they hard-add $7,500? The dealer said 40%, but that may be low. Maybe he was remembering for 15k.

  • MichaellMichaell Moderator Posts: 240,145

    @xkind said:
    There is a discrepancy in the quotes I am getting for residual for a 36 month lease, 10.5k miles. kyfdx , you say 61% (I assume that is Ally), but they told me 57%.

    Also, does anyone know the base residual for 10.5k/36 months for USBank before they hard-add $7,500? The dealer said 40%, but that may be low. Maybe he was remembering for 15k.

    The only GM numbers we have are from Ally, so we can't comment on the validity of the USBank figures.

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  • xkindxkind Member Posts: 16

    @kyfdx , @Michaell‌

    I got confirmation from a second dealership that for USBank, the residual base is 37%, then they add in the $7500. That works out to 61.43% , but they have a $395 disposition fee which Ally does not. So in this case, Ally will be a better deal by $275.

    The second dealership said Ally's residual base is 56% (so 59% with 10.5k miles). So I'm hearing 57%, 59% and 61%. It makes a big difference.

    I'm guessing your 61% figure is correct and I just need to convince the dealers of that somehow. Suggestions?

  • xkindxkind Member Posts: 16
    edited August 2014

    Ok, I got a dealer to agree with the 61% and .0004 mf numbers for a 10k lease.

    He said for US Bank, it is also .0004 mf, but the $395 disposition fee means Ally is still cheaper by $231.

    I'm guessing residuals will drop again in September. At that point I will probably be better off leasing a 2015 (or buying).

  • xkindxkind Member Posts: 16
    edited August 2014

    Ok I got a sort-of offer from a Chevy dealership and Ally. It was frustrating to have to fix all the mistakes they made and finally get the number down to something that matched my own math.

    Here are the details for a 36 month, 10,000 mile lease

    Disclosures

    MSRP: 34995
    Gross Capitalized cost: 33295
    Capitalized cost reduction: 2477.86
    Residual: 21346.95
    Base scheduled Payment: 286.17
    Tax (9.8%) 27.95
    Total Payments: 35 x 313.12

    Itemized Amount Due at Lease Signing:

    Cap Cost Reduction: 2477.86
    First Monthly payment: 313.12
    Title, Reg: 295.75
    1 Days Select due date fee: 10.44
    Total: 3340.00

    How the Amount Due at Signing will be paid:
    Rebates: 2990 (2240 lease cash, 750 usaa)
    Amount to be paid in cash: 350

    Itemized Gross Cap cost:

    Negotiated price: 32550
    Acquisition Fee: 595
    Doc Fee: 150

    Is it correct that rebates are treated as a cash down payment, like they did it?

    Now the part that still worries me is several of the people I dealt with that evening kept trying to get me to believe that Ally wouldn't deal with me because I'm a "first time buyer." It's true that I have never financed a car, but I have financed a house--still they say my credit is not "deep" enough for Ally to want to work with me. My credit score is 740, my wife's is 780. The first guy kept trying to get me to up the down payment to improve my chances. The next guy flat out told me Ally didn't want to work with me. The third guy thought he might be able to get Ally to work with me, but wanted to do the deal "my way" with the cash amount due of 350, and didn't care about upping the down payment. 3 different people saying 3 different things in the same company--it didn't sit right.

    Also they tried really hard to challenge the USAA rebate, insinuating that I need to not only be a member but to have USAA insurance. Has anyone else faced this?

    At this point, the wanted me to sign a contract with those numbers, but they couldn't assure me that either the USAA rebate or the Ally lease would work out.

    I didn't sign. I didn't take the car home. I'm afraid to take it home, that they will come back and say that my bank deal fell through and offer me some atrocious deal after I've already taken the car.

  • xkindxkind Member Posts: 16

    Update: USAA rebate went through and Ally went through with the 350 due at signing. We are going in again today.

  • xkindxkind Member Posts: 16
    edited August 2014

    Signed a lease today. Wife's recent 800+ credit score did the trick to get us the deal we wanted with Ally and only 350 due at signing, despite never having financed a vehicle.

    It ended up slightly lower than what I said above. The title and registration dropped by $18, the sales tax by $11 and the $10 "1 Day select due date fee" was dropped.

    The end monthly payment was $311.86.

    These are my figures from http://www.free-online-calculator-use.com/automobile-lease-calculator.html

    Depreciation cost (262.31 x 36) = $9,443.05
    Total lease fees (21.72 x 36) = $782.05
    Total monthly sales tax (27.84 x 36) = $1,002.06
    Total cost over 36 months = $11,227.16

  • kyfdxkyfdx Moderator Posts: 235,200

    Sounds like you did your homework and got a great deal. You were wise to wait on the rebate confirmation.

    Rebates are generally handled as described. That way, the state gets their tax.

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  • oleluckyolelucky Member Posts: 1

    Looking at this nationally advertised lease and wondering if that would be as good a deal as I should expect to get or is there better deals to be had.

    $269/month for 36 months.

    $2,679 due at signing (after all offers).
    Tax, title, license, dealer fees and optional equipment extra.
    Mileage charge of $0.25 /mile over 36,000 miles.

  • kyfdxkyfdx Moderator Posts: 235,200

    @olelucky said:
    Looking at this nationally advertised lease and wondering if that would be as good a deal as I should expect to get or is there better deals to be had.

    $269/month for 36 months.

    $2,679 due at signing (after all offers).
    Tax, title, license, dealer fees and optional equipment extra.
    Mileage charge of $0.25 /mile over 36,000 miles.

    The ad doesn't give a lot of details, other than it is for a $34,995 MSRP unit. Most advertised leases leave some room for a better deal, though.

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  • janulbugjanulbug Member Posts: 22

    What is the rv and mf on a 2014 volt w navigation 36mths 12k miles in Los Angeles, CA?
    Thanks.

  • kyfdxkyfdx Moderator Posts: 235,200

    @janulbug said:
    What is the rv and mf on a 2014 volt w navigation 36mths 12k miles in Los Angeles, CA?
    Thanks.

    1.00% APR and 59% residual. $2240 lease cash.

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  • anjozanjoz Member Posts: 8
    edited September 2014

    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?

  • MichaellMichaell Moderator Posts: 240,145

    @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?

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  • anjozanjoz Member 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 Moderator Posts: 240,145

    @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.

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  • anjozanjoz Member 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.

  • orcagirlorcagirl Member Posts: 3
    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 Moderator Posts: 235,200
    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?

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  • orcagirlorcagirl Member Posts: 3
    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 Moderator Posts: 235,200
    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.

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  • orcagirlorcagirl Member Posts: 3
    The MSRP is $35,770
  • kyfdxkyfdx Moderator Posts: 235,200
    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..

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  • ddjohns1ddjohns1 Member Posts: 4
    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 Moderator Posts: 240,145
    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.

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  • taye001taye001 Member 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 Moderator Posts: 235,200
    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.

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  • sheepdog1sheepdog1 Member Posts: 36
    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 Moderator Posts: 235,200
    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

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  • dkmny21dkmny21 Member Posts: 2
    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 Moderator Posts: 235,200
    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.

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  • dkmny21dkmny21 Member Posts: 2
    Great! Looks like I'm getting a new Volt! Thanks so much for your input!!

    - DK
  • Mr_ShiftrightMr_Shiftright Member Posts: 64,481
    I got some December numbers from a dealer and he's putting the residual at 47% ($17,373).
  • cbuyincacbuyinca Member Posts: 2
    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.
  • cbuyincacbuyinca Member Posts: 2
    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 Moderator Posts: 235,200
    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.. :)

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  • jinocjinoc Member 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 Moderator Posts: 240,145
    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.

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  • jinocjinoc Member 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 Member Posts: 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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