Last post on Nov 14, 2013 at 12:00 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Chevrolet Volt, Car Buying, Car Leasing, Sedan
#193 of 482 Figuring Volt lease with tax credits
Nov 07, 2012 (6:20 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 482 Cost reductions?
Nov 08, 2012 (12:50 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 482 Re: Cost reductions? [zico2000]
Nov 09, 2012 (4:27 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 482 Re: Figuring Volt lease with tax credits [bromion]
Nov 09, 2012 (4:31 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 482 Re: Figuring Volt lease with tax credits [tschai]
Nov 09, 2012 (4:36 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 482 Re: Figuring Volt lease with tax credits [bromion]
Nov 09, 2012 (5:11 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 482 Re: Cost reductions? [zico2000]
Nov 09, 2012 (6:59 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.
#200 of 482 Looking to lease
Nov 11, 2012 (10:09 am)
I'm looking to lease a 2013 Volt, but am having trouble finding anything that resembles a good deal. I have great credit (in the 800's).
This was my latest offer on a 2013 loaded Volt: Premium Trim, Safety 1 and 2, Bose system, Nav, and Polished Wheels. I would welcome your comments. Thanks.
Sale price: $42,928.00
36months 12,000 miles per year. $2500 down
Residual Value 61% or $27,210 (buyout)
Lease Money factor 0.00081 (rough APR 1.9%)
Total due at inception $2500 includes 1st payment
35 payments remaining at $437.07
#201 of 482 Re: Looking to lease [ksuna]
Nov 11, 2012 (10:26 am)
I got a lease that was fully loaded Package 1 & 2.
The payment is $418.00 including California Taxes
36 Months 15,000 Miles. I put down $1,750
I know the money factor was about 1.9 thru Ally.
It included 1st payment.
Where are you located?
#202 of 482 Re: Looking to lease [bacchusm]
Nov 11, 2012 (10:31 am)