Last post on Nov 14, 2013 at 12:00 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Chevrolet Volt, Car Buying, Car Leasing, Sedan
#454 of 482 2013 Lease in S.FL
Oct 11, 2013 (10:21 am)
I'm looking to lease a Volt here in South Florida. My local dealer has provided the following:
2013 Base Chevy Volt
Selling Price (after discounts): $32,895
Tax, Tag, Fees: $3551 (includes $699 dealer service fee and $400 tag)
36 Month lease, 12,000Miles/yr
Cash Due: $2000
This seems rather high to me for a base 2013. Any thoughts?
#455 of 482 Re: 2013 Lease in S.FL [chasm2]
Oct 11, 2013 (10:39 am)
That seems high.
Here's my deal (Ally Bank)
Base 2013 Volt w/leather steering & heated seats
15K miles per year
$310/month (tax included)
$0 down except TTL & first month (~$980 in my case)
Don't get screwed.
#456 of 482 Residual & MF for 2013 & 2014 Volts
Oct 11, 2013 (11:11 am)
Can you please provide the Residual and Money Factor for 2013 & 2014 Volts 12K mi/yr please?
#457 of 482 Re: 2013 Lease in S.FL [casualsurfer]
Oct 11, 2013 (11:40 am)
My deal was supposed to be Ally bank as well.
Money factor 0.85%, Residual 53%, MSRP 39,995, Net CAP $30,210
Our deals are very similar except for the extra $9/mo ($351) and $1020. The 12/15k miles, 36/39 month differences seem to balance out.
What dealer did you use?
#458 of 482 Re: 2013 Lease in S.FL [chasm2]
Oct 11, 2013 (7:57 pm)
I got a quote on a 2013 that stickered at just over 43K. Gave me a price of 424 a month on 3/36 with only the 7250 tax credit as a discount on a selling price of just over 42K.
I asked about the 5K discount and they said you can't get both that and the tax credit, that you could only get the 5K if you agreed to some ridiculous 28% residual. I'm wondering if since it's a smalltown dealer that probably only got one Volt that they don't know you can get both or that they do know and are just trying to keep the 5K for themselves, though I don't know how if they were only discounting the car a little over 1K.
Told them I 'might' be in touch.
#459 of 482 Re: Residual & MF for 2013 & 2014 Volts [venk25]
by kyfdx@Edmunds HOST
Oct 12, 2013 (12:43 pm)
2013 Volt (w/o NAV) 36mo 12K/yr lease
0.85% MF and 53% residual.. $7250 in lease cash
2014 Volt (w/o NAV)
1.05% MF and 59% residual.. $1415 in lease cash
Oct 13, 2013 (4:11 am)
Never leased before and am trying to figure out if I got a good (reasonable) deal. I see the 2013s are much lower but I got a 2014 so I can't tell...
Negotiated based on vehicle price since that is how I have always purchased cars(is that the way to do it?)
Anyway fully loaded 2014 MSRP $39,850 (everything but the bling rims)
$1500 drive off
370/mo 36/12k (tax incl.)
felt high but it was by far the lowest of 8 dealerships I had bidding against each other in LA...
Seems like there are too many moving parts in a lease, maybe I should have just purchased. We agreed on a $1500 drive off and to get to that number they gave me a 1500 bank rebate off the $3000 drive off listed on the paperwork. How does that work? Should I have gotten that and paid 0 down?
Feeling like I would rather have just purchased because I think I negotiated a good purchase price but that just increased the residual value if I actually want to purchase later. And since the bank gets the $7500 tax credit it does not make a ton of sense to purchase this at the end of the lease anyway, right?
So many questions and so much cognitive dissonance.
#461 of 482 Re: Residual & MF for 2013 & 2014 Volts [kyfdx@Edmunds]
Oct 14, 2013 (3:29 pm)
Could you please explain what you mean by "lease cash"? And, how does this relate to tax credit and/or the $5k back from GM? I was just at a dealer and they told me that the $5k rebate was built into the lease interest rate and that you don't get the additional cap reduction - which goes against the posted deals I see here? I have never leased a car before and I thought I had it pretty well figured out until I got to the dealer.
#462 of 482 Re: Residual & MF for 2013 & 2014 Volts [ckmos]
by kyfdx@Edmunds HOST
Oct 14, 2013 (7:31 pm)
The lease cash is money provided by Chevy/Ally. You don't get the tax credit, the bank does (which allows them to give you that big chunk of lease cash). The lease cash is applied against the selling price of the vehicle to reduce the CAP cost.. You can certainly negotiate a selling price lower than MSRP, in addition to the lease cash..