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Chevrolet Volt Lease Questions

316 messages,  Last post on May 25, 2013 at 2:00 PM

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What is this discussion about? Chevrolet Volt, Car Buying, Car Leasing, Sedan

    

Messages Page 5 of 33

#32 of 316 Re: Volt Lease Offer [nc_driver1] by Car_man HOST

Mar 14, 2012 (3:48 pm)

Replying to: nc_driver1 (Mar 13, 2012 7:35 am)
Hey nc_driver1. 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 are 1.1% and 59%, respectively. This lease rate is equivalent to a money factor of around .00046, like you mentioned.
 
GM is providing a $3,045 cash incentive on leases of this car through Ally in all areas but California (where the allowance is higher). Negotiate a selling price that's as close to dealer invoice as possible (and from what I hear dealers are happy to discount Volts right now) and then have the dealer subtract the aforementioned cash from that.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#33 of 316 Re: Volt lease in GA [magicboy] by Car_man HOST

Mar 14, 2012 (3:50 pm)

Replying to: magicboy (Mar 13, 2012 8:20 pm)
Hi magicboy. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
 
In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its base lease rate.
 
Please see my previous post for information on what this car's programs are like right now.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#34 of 316 Re: Ally Financial Fees [nc_driver1] by Car_man HOST

Mar 14, 2012 (3:52 pm)

Replying to: nc_driver1 (Mar 14, 2012 8:24 am)
Hi nc_driver1. I believe that both an acquisition fee and a security deposit are required on leases of this car through Ally right now. The security deposit would be your car's payment rounded up to the nearest $50 increment. Ally charges a fairly high $795 acquisition fee on every vehicle that it leases.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

#35 of 316 Re: Ally Financial Fees [nc_driver1] by phaworth

Mar 14, 2012 (4:24 pm)

Replying to: nc_driver1 (Mar 14, 2012 1:47 pm)
$43,553 was the gross cost. after incentives of $3641 the adjusted value is $40,635 with a residual of $26992.

#36 of 316 Re: Volt Lease Offer [Car_man] by nc_driver1

Mar 15, 2012 (10:49 am)

Replying to: Car_man (Mar 14, 2012 3:48 pm)
Car Man...see below final deal on a 36mos lease of 2012 Volt ,15K miles per year:
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
 
Comes to $411/mo, no money down. If you're still monitoring this discussion, please let me know. Many thanks again.

#37 of 316 Volt Money Factor by jennifer91701

Mar 15, 2012 (11:08 am)

Hi:
 
I have the chart for side by side comparsion of Ally and US Bank for the $350 promotion.
 
I understand that 1.10 is about .00046 on the money factor but at the top it has the hits for different credit tiers.
 
B Tier was 1.2% and C Tier was 3% for Ally
 
and on US Bank was 1.32 and the credit hit was .96%
 
Can anyone tell me how to get the money factor from these numbers!
 
Thanks!!
Jenny

#38 of 316 Volt Lease- question. by cars4fun

Mar 15, 2012 (7:45 pm)

I have never leased before. Considering the Volt. It's very cool, and the technology is impressive. Had a great test drive today, ran the battery down to zero, in order to see how the gas generator behaved once the initial charge was depleted. it was still quiet, but in the "mountain mode" there is considerable droning of the gas generator, which was sort of annoying...... but overall it's a great ride.
 
one question: I have visited a couple of dealers in my area, and they don't seem to know the answer to my basic question, so hopefully you do. with a lease, is the "buyer" (aka lease-or) entitled to the $7500 tax credit? The dealer says they do not know. You'd think that they should, right? and the various states have their own tax credits as well.
 
should we be deducting the tax credit from the price, in order to calculate the lease? or is the "money factor" based on a lower price and tax credit? Is Ally Bank taking the tax credit?
 
I've reviewed your site's lease calculation tutorial, and it is simple and easy to understand. Yet, I don't see where the $7500 tax credit is accounted for in the transaction. Any info will be appreciated by me, and by others, I'm sure. thanks!

#39 of 316 Happy New Volt Owner by newvoltowner1

Mar 18, 2012 (8:53 am)

Just leased a 2012 HOV Volt yesterday. Most dealers were not willing to play with the Ally lease deal being advertised for 349 a month if you want an HOV in California. Even though there is nothing specific in the wording about the lease, most dealers say that notices from Ally state that the lease special does not apply to HOV. Here is what I finally got. I wanted to keep my payments low, so I put 5,000 drive off into the deal. We don't drive that much, so we chose 10,000 miles per year and figured we would pay the .20 per mile if we go over.
 
MSRP - 45230
5000 due at signing
10,000 miles per year
36 months
Base monthly payment - 356.27
 
Let me know how I did.....

#40 of 316 Re: Happy New Volt Owner [newvoltowner1] by magicboy

Mar 18, 2012 (9:12 am)

Replying to: newvoltowner1 (Mar 18, 2012 8:53 am)
I leased one yesterday in Georgia. My dealership gave me the deal they were running last month. Which was advertised as $1000 down, $399 Month.
 
These are the details
 
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
 
They tell me that I can register for an EV tag in Georgia for like $30 bucks and get HOV status.
 
There was also some mention that I may be able to get some Georgia rebate. I have to have CPA look into it. I figured the bank would try and collect this.

#41 of 316 Re: Volt Lease Offer [nc_driver1] by Car_man HOST

Mar 21, 2012 (4:01 pm)

Replying to: nc_driver1 (Mar 15, 2012 10:49 am)
Of course I'm still monitoring this discussion, nc_driver1 . This looks like a great deal to me. Dealers certainly are dealing on the Volt now. How quickly things change. Enjoy your new ride!
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

Messages Page 5 of 33

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