Last post on May 22, 2013 at 6:14 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Chevrolet Volt, Car Buying, Car Leasing, Sedan
#190 of 315 Re: 2013 Lease in Massachusetts [njd1117]
Nov 01, 2012 (8:43 am)
Should have added: 15,000 miles per year and 36 month lease.
#191 of 315 Residual and money factors?
Nov 04, 2012 (3:28 pm)
Could someone post the definitive residual and money factor rates for 15k miles on 36 month lease for a Volt?
What are the incentives from Ally?
#192 of 315 Re: Residual and money factors? [zico2000]
Nov 06, 2012 (1:02 pm)
Residuals are lower compare to October. It's 43% for 36m/15k and 41% 39m/15k with $2440 CCR. Add 2% for 12k/year. Same for both navi and non-navi. Keep in mind the residual is before adding the $7500 federal tax credit. Money factor is .00048 or 1.15% Financed to US Bank. I don't have one for Ally.
These numbers are for November and December.
#193 of 315 Figuring Volt lease with tax credits
Nov 07, 2012 (7:20 pm)
I'm trying to figure out the Volt lease price but I'm confused as to how the tax credits work. In California, there's an additional $1500 credit, I believe, bringing the total credit to $9000. Does this get applied directly to the final cap cost of the car? What happens to the residual? I'm using the Edmunds calculator. Given these credits, what numbers do I enter for Incentives and Rebates and Lease Residual? Thanks!
#194 of 315 Cost reductions?
Nov 08, 2012 (1:50 pm)
Getting different messages from dealer. Do you reduce the negotiated price by 7500 (tax credit) and then by 2500 (ally incentive) when leasing? Can't seem to make the math work. Anyone who actually leased, can you post the detailed math here?
#195 of 315 Re: Cost reductions? [zico2000]
Nov 09, 2012 (5:27 pm)
You add the $7500 to the residual. So if the residual is 43%, you add $7500 on top of that. This reduces your depreciation charge by $7500. This significantly inflates the purchase price at the end of your lease. I doubt that the Volt will be worth the inflated residual after 36 months.
#196 of 315 Re: Figuring Volt lease with tax credits [bromion]
Nov 09, 2012 (5:31 pm)
You apply for the $1500 rebate after you get the car from the dealer. You have to submit the purchase information to the state to receive that rebate. It takes about 6-8 weeks. It doesn't affect your lease payment. If you get rid of the Volt before 36 months, you have to give part or all of that $1500 back to the state.
#197 of 315 Re: Figuring Volt lease with tax credits [tschai]
Nov 09, 2012 (5:36 pm)
OK, so the $1500 doesn't factor in the lease at all, but how about the $7500? How does that compute into the lease?
#198 of 315 Re: Figuring Volt lease with tax credits [bromion]
Nov 09, 2012 (6:11 pm)
It increases your residual by $7500. So your rent charge(depreciation) gets reduced by $7500 off the bat. This can reduce your monthly payment by up to $208 ($7500/36) depending on the money factor. All the special lease ads you see for the Volt already have this figured into the monthly payment so don't assume that it's a additional reduction to the lease payment.
#199 of 315 Re: Cost reductions? [zico2000]
Nov 09, 2012 (7:59 pm)
You only add $7500 to the residuals for US Bank not Ally. Ally residuals already have the $7500 built in, how much of that is built into it is not known. I don't think there's a $2500 Ally lease incentive. Where did you see that? I believe there's only a $500 subprime incentive and $500 targeted mailer cash incentive for Ally.