Last post on Nov 14, 2013 at 12:00 PM
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Chevrolet Volt, Car Buying, Car Leasing, Sedan
#14 of 482 Car_man and others, Volt Lease question for you.
Jan 12, 2012 (7:51 pm)
I'm thinking of leasing a 2012 Chevy Volt and using my Calc my monthly payment on a 46,165 MSRP and say a 45,165 purchase price with a 62% residual and 0.00045 Money Factor (1%) would be around $492.72 a month plus tax. I'm trying to get a hold of this Tax Incentive though. If Chevy is rolling the incentive into the lease, wouldn't it be money down? Which would bring the month payment down to $281 a month.
Otherwise I would rather just apply for the tax credit at tax time and pay the $492 a month and get a $7,500 check from Uncle Sam in 2013.
#15 of 482 Re: Car_man and others, Volt Lease question for you. [basamx]
Jan 13, 2012 (4:49 am)
I have also asked the same question in the past. It appears the $7500 tax credit is added to the residual price on a lease. My guess is the 62% residual would include your $7500 tax credit. That is how the sales person explained it to me.
How much money down do they want?
#16 of 482 Re: Car_man and others, Volt Lease question for you. [melram]
Jan 13, 2012 (9:53 am)
I called and spoke with a Dealer today. US Bank uses a 43% residual and a 1.32% rate, then adds the $7,500 back in. Ally just uses a 60% residual and a 1.1% rate. Since the Lease company actually bought the car, they take the $7,500, but play with the residuals to give you a small piece of it.
This kind of SUCKS, because back when you could get a deduction on Hybrids, it didn't matter if you bought or leased the car. Also, I have to figure out how the tax credit plays back into the purchase price at the end of the lease.
#17 of 482 Re: January Lease Rates [melram]
Jan 15, 2012 (10:30 am)
Here you go melram. Ally's current base lease rate and residual value for a 36-month lease of a 2012 Chevrolet Volt with navigation and 12,000 miles per year are 1.1% and 61%, respectively.
Prices Paid: Buying & Leasing Experiences Forum
#18 of 482 Volt Lease Offer
Jan 24, 2012 (4:00 pm)
I can't understand how you find the time to do any of this... hundreds / thousands of posts... ???
My appreciation for this resource and your input is immeasurable.
Here's the offer:
2012 Volt Lease MSRP 42085
Sale Price 40386
Finance Rebate of 2075
36 month / 15k per year
With 2000 OOP cap cost reduction, monthly + tax = $386
Based on these numbers, residual appears to be 43% (7500 credit added on top of that?) and .00045 MF
Not sure what his DMV or Doc fees are but I think they may be rolled in. Waiting on buyout.
Thanks again for all your hard work.
#19 of 482 What are folks thinking of the Jan lease offer on the Volt?
Jan 25, 2012 (8:15 pm)
1.1% and 61% -- kind of a screamin' deal, I think. If you lease you don't get the Federal tax credit, but it's baked into that fat residual -- which likely won't be anywhere *near* that high in three years given it's a GM, that other electrics are coming along and that the Federal rebate will likely diminish or disappear.
I think I might jump on it.
#20 of 482 Re: Volt Lease Offer [brunof]
Jan 29, 2012 (2:51 pm)
Neither do I, neither do I brunof . Thanks .
General Motors just significantly enhanced its lease program on the Volt. Apparently all of the negative publicity that it has received lately has taken its toll on demand. I believe that the cash incentive for leases of this truck through Ally is now up to $2,675. That knocks about fifty bucks a month off of where the lease was before this enhancement.
Ally's current residual value for a 36-month, 15,000 mile per year lease of a 2012 Volt without navigation is 60%. Unlike U.S. Bank which uses the $7,500 tax credit as a capitalized cost reduction for leases, Ally keeps the money itself and uses it to artificially inflate the Volt's residual value all the way to 60%.
Ally's current base lease rate for this car is 1.1%. This is equivalent to a money factor of around .00046, as you suspected.
Prices Paid: Buying & Leasing Experiences Forum
Jan 31, 2012 (1:49 pm)
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#22 of 482 Re: Volt Lease Offer [Car_man]
Feb 02, 2012 (3:18 pm)
"Cash Incentive" of $2,675? So you get this as a further discount off of whatever price you negotiate and then lease at 1.1% and 60%? What is the residual for 12k miles per year?
Feb 03, 2012 (2:02 pm)
A journalist is looking to speak with anyone who recently purchased a Chevy Volt or a Chevy Cruze. Please send a brief description of your shopping experience and your preferred contact information to predmunds.com by no later than Monday, February 6, 2012