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
#376 of 482 I pulled the Trigger!
Aug 20, 2013 (2:31 pm)
Pulled the trigger on Sunday. Got a slightly better deal (with a some what different deal structure) from the dealer close to my home for an identical car (but with a dealer added $60 cargo net). I think the deal is one of the best I have seen so far.
2013 Chevrolet Volt
Premium White Diamond Tricoat
Premium Trim Package
Enhanced Safety Package 1
Enhanced Safety Package 2
Chevrolet® MyLinkTM radio with navigation
Premium Bose® Energy Efficient Series sound system
Cargo net (Dealer-installed)
Total Due at signing: $2,799 (includes $650 California sales tax, which may not apply to you).
Monthly: $239 + tax 8.75% = ~ 260/month
(I'll post the detailed break down if anyone is interested)
California is processing my application for $1,500 rebate and an HOV sticker. So that will bring my effective payment down to $218/month. That's like $199/month + tax on a $45K car! Or $239 + tax with only $1,299 total due at signing (of which $650 would still be California sales tax. Talk about chasing your own tail. Lol!). Not bad whichever way you look at it!
We took $20K off the MSRP! $5K negotiated savings, $5K GM rebate, $1K GM Lease Conquest rebate, $7500 federal rebate, and $1500 California rebate.
At only $25K, this is cheaper than a gas car with leather seats, leather steering, heated driver and front passenger seats, 7 inch touch screen, navigation, onstar, 7 speaker Bose audio, satellite radio, bluetooth (pair upto 5 devices), on board Pandora, gas prices finder and other apps, USB storage port, auto dimming mirrors, rear view camera, keyless entry, push button start, smartphone vehicle monitoring and control app with navigation input from phone, front and back parking sensors, *active* cruise control, lane departure warning etc.
I have been thrilled at how this car drives. This is a fun car. It doesn't drive, it wafts! I'll save my electric rants for a different forum. But I'll just say this car is American ingenuity at work! At this price, its a no brainer!
#377 of 482 Re: I pulled the Trigger! [apudiyap]
Aug 20, 2013 (4:00 pm)
Hi apudiyap ,
can you please send me the break down to skalties at gmail dot com , I want to pull the trigger tomorrow .
#378 of 482 Re: I pulled the Trigger! [apudiyap]
Aug 20, 2013 (6:37 pm)
That's a great deal - nice job.
#379 of 482 Re: I pulled the Trigger! [apudiyap]
Aug 20, 2013 (10:32 pm)
Thanks for the info. I'm also interested in seeing the breakdown of your deal. I'm in the SF BA also. Can you recommend a dealership? Thank you
#380 of 482 Breakdown on lease deal
Aug 20, 2013 (11:39 pm)
Here's the breakdown. Its a 10K/36 lease.
Selling Price: $39,938 ($5,067 dealer discount)
Total Cap Reduction $6,838 (GM's $5,020 + GM's $1,000 + my $818 cap reduction part of drive off)
Net Cap Cost: $33,100 (Selling price - total cap reduction)
Residual: $26,402 (See Explanation below)
Total Depreciation: $6,698 (Net cap - Residual)
Total finance charge: $1,906 (See Explanation below)
Total cost: $8,604 (Depreciation + Finance charge)
Monthly cost: $239 + tax = $260 (Total cost / 36 plus tax)
Drive off break down:
Bank fee: $595
Sales tax on total cap reduction + Bank fee: $650
Doc fee: $80
First month payment: $260
Cap reduction: $818
Total Drive Off: $2,799
The formula for Volt's residual is still a mystery (looks like 43.15% of $43,800 residual cap + $7500, or 58.66% of MSRP. Both look odd) and the finance charge seems pretty high at over 2% (I have top tier credit score). So some of that jack up might have paid for the $5K plus dealer discount.
But in any case this is the lowest total cost I could find after working with 4 dealers in the area and the selling price is $1,813 lower than truecar.com's best price, which is already much lower than invoice and deep in dealer holdback/incentive territory. So even if they hid $1,800 in there (for this I have to factor in the best case residual of 45% of $43,800 + 7500 = $27,210 which was reported for US Bank and the best case rate of 0.85% which was reported for Ally, even though getting the best of both together is an impossibility), I am still ahead. Also, dealers got to make their money too... lol!
Good luck for tomorrow, SK!
And thanks, freeman3!
#381 of 482 Re: I pulled the Trigger! [kaiserboba]
Aug 20, 2013 (11:29 pm)
I am in the southbay. I bought mine from Courtesy Chevrolet at Steven's Creek. I found from Google local car inventory that they had the car I wanted, walked in with the VIN number, and just gave them a detailed breakdown of the lease deal I was looking for. After a few back and forth, they came up with the lease structure I posted in my previous message to match my bottom line. Deal was done!
I had talked to Fremont Chevrolet, Capitol Chevrolet and Boardwalk Chevrolet during the previous week and had also worked out truecar.com prices. Fremont Chevrolet came close and were nice to talk to. Capitol Chevrolet in San Jose was the toughest to deal with, playing the old tricks. No wonder they have over 100 2013 Volts just rotting on their lot.
#382 of 482 Re: I pulled the Trigger! [apudiyap]
Aug 21, 2013 (6:53 am)
I am loving your enthusiasm about your recent vehicle purchase! I am happy you have been thrilled about how well your Chevy Volt drives. The deal you got is definitely a great one! We appreciate your positive feedback on the vehicle. Continue to enjoy driving it around. If you ever have concerns or questions, don't hesitate to reach out to us. We can be contacted by email at socialmedia(at)gm.com.
GM Customer Care
#384 of 482 Re: I pulled the Trigger! [apudiyap]
Aug 22, 2013 (8:09 am)
Thank you Ajeer for the info. Seems like a wide range of deals out there and it's good to have a ballpark idea what to shoot for. Hopefully i'll be as successful in our search. enjoy your ride! cheers
#385 of 482 Re: I pulled the Trigger! [apudiyap]
Aug 23, 2013 (10:18 am)
Hi, I'm trying to decide between purchasing or leasing. I see posts about the federal and state tax rebates, how are people claiming these when leasing? Dealers I have talked to says the rebates go to the leasing company.
Thanks for any input on this