[ragmalibu]

Hey everyone, this site, as always, is amazing.

I've been digging in looking for incentives and I know I am weak at the search button. After dealing with Rydell who stopped emailing me when I said I wanted to be below $240 out the door, and being laughed at, out loud by the sales guy and sales manager (oh yeah, I heard them) at Connel in Huntington Beach, I ended up and just leased a 2017 Lt base model. It was a very pleasant and easy deal with Sierra Chevrolet in Monrovia.

Sales kid (because he was young) is Andres:

$34K and change was the MSRP, Dealt it down over text to around $27K, residual around $17K.

36 Months, 12K miles, 0 Down, 0 Drive off, 0 due at signing.

$237 and change out the door monthly (including taxes). This deal includes first payment.

Hope it help someone out.

 

[138luis]

Sales kid (because he was young) is Andres:

$34K and change was the MSRP, Dealt it down over text to around $27K, residual around $17K.

36 Months, 12K miles, 0 Down, 0 Drive off, 0 due at signing.

$237 and change out the door monthly (including taxes). This deal includes first payment.

Hope it help someone out.

Awesome deal. I'm looking for a lease too. Do you have excellent credit? I wonder if that's why. Mine is in the mid 700s.

I'll contact Andres tomorrow.

Thanks


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[ragmalibu]

My credit was above 800 but the deal was done prior to my credit being checked. Call him and tell him Carlos sent you and how happy he is with his experience.

 

[138luis]

Awesome deal. I'm looking for a lease too. Do you have excellent credit? I wonder if that's why. Mine is in the mid 700s.

I'll contact Andres tomorrow.

Thanks


Sent from my iPhone using Tapatalk

Will do. Thank you!

Luis


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[DonC]

I believe that last week Rydell was offering $5500 - $6000 off on Volts. That number is now $4500. Given the other factors are likely set by GM leasing, this discount is the primary way you'll reduce the lease payments. So timing is everything. Some dealers may also get special deals on various cars, might be because of its volume or because a car has been sitting on a lot a very long time, but it's difficult to learn about those situations. The one thing you do know is that a dealer won't lose money selling you a car.

The point is that it may be impossible to get the same deal someone else got a week or two later or earlier than you did.

 

[ragmalibu]

Agreed DonC. I never lease but I get to charge for free and this is really a commuter so it made sense. Other dealers wouldn't budge from $300 with tax and that's because the discounts had disappeared for the days I was there. I like dealers that engage and are honest and Sierra met criteria this time around. I asked if I could recommend for the same deal and they said yes.
If it helps....coooool.

thanks for the comment.

 

[DonC]

Agreed DonC. I never lease but I get to charge for free and this is really a commuter so it made sense.
....
If it helps....coooool.

Your post definitely helps. Thanks for posting. I was just pointing out that deals can be fleeting. Depends on a lot of factors. Great you're giving people the benefit of your experience.

Certainly not questioning your decision to lease. I'm agnostic when it comes to leasing. Sometimes, as in your case, it makes more sense to lease. Other times it's not clear or buying might be a better idea.

In any event, welcome to the forum and congrats on the car. I think one thing you will come to love is not having to go to the gas station. It's truly a horrible consumer experience that you become inured to because you have to do it. My neighbor got a BMW PHEV. It has a short range but she has a short commute. I told she'd love not going to the gas station when she got the car. It didn't really register but now, after not having to go for a couple of months, it's her favorite thing.

 

[krishk]

Hello Folks,
I am new to leasing and trying to understand the deal and the numbers. I will post what I understand, could someone please help me understand the final lease payment + tax ? Number I am getting is way off from the $237 monthly payment reported by the OP. can someone help ?

MSRP - 34465
Base Cap - 27,000
Gross Cap Cost (Base Cap - Dealer Acquisition fee - warranty) - 27,000
Downpayment - 7150 (Fed tax credit given to the dealer who is the owner of this car)
Net Cap Cost (Gross Cap - Downpayment) - 19850
Residual Value - 17,000
APR - 1.7%
MoneyFactor - 0.00069 (APR/24)
Term of Lease - 36 months
Sales Tax - 8%

*Calculation of Lease Cost*
Depreciation - 2850 (Net Cap Cost - Residual)
Rent Charge - 917 (Net Cap Cost + Residual) * Finance Charge *Term of Lease
Sales Tax - 301 (Depreciation + Rent Charge) * Sales Tax

Monthly Lease Payment - 104.65 (Depreciation + Rent Charge)/Lease Term
Sales Tax/Month = 8.37 Sales Tax/Lease Term
Total Monthly Payment - $113.03

 

[ragmalibu]

something not right with those numbers above. the federal rebate is not kept by the dealer but by the leasing company, unless they give it to you..

Read this to fully understand the Leasing concept.

https://leasehackr.com/blog/2016/4/17/how-to-calculate-lease-payments-by-hand

 

[krishk]

Thanks Ragmalibu.

I understand the $7500 rebate is kept by the leasing company. Should I count that as part of downpayment ? How would the leasing company pass on the federal rebate even if not passing on 100% of the tax credit ?

 

[ragmalibu]

The federal rebate is based on your income and if it even can help you. You do not count that into the monthly that they calculate since it is something they take for themselves. If they did allow you to have it, you would use it as a writeoff not as part of any down payment.

 

[llninja]

The $113.03 per month deal sounds like a screaming deal, except then you look at the $7150 down payment (down payment has nothing to do with the fed tax credit). I think they're asking for you to cut them a check for $7150 at the beginning of this lease, and most people who lease would contend you should try to get this down to $0 and allow the monthly payment to go up. Otherwise if you total the car in an accident, you are out $7150 instead of $0 plus monthly payments.

I also didn't see whether this was for 10k or 12k miles per year, that affects the lease payment.

On the other hand, I love my $0 per month, unlimited miles deal.

 

[water0033]

if you guys used the lease calculator, this does not seem to add up right,
https://leasehackr.com/calculator/


I am very sorry but I don't think that you are getting the correct deal at $27,000 before the factory incentives, so far I never heard anyone is willing to knock off $7,095 off msrp on a volt in socal area, even if they somehow did it, they must have added markups on interests or add ons to jack it up to $237 with 8% taxes.

The best I saw is from my friend who got the steal deal in riverside due to sales kid(new dealer who hired very young guy) somehow did the math wrong, sold a $34,695 volt for $29,100 before factory incentives, and he got it with a lease, 3 years 15k miles per year, $0 down $0 drive off $0 first month, $150 per month with 9% L.A county tax, now that is a DEAL,

I have prove of contract to show, and I felt bad for that sales "kid" because he no longer reply our calls or emails although he still works there, I referred my other friends there and now the same volt quoted over $400 per month

so for the op, if you like to find out if your deal is right, feel free to post the contract so we can all study to see

thanks

 

[llninja]

if you guys used the lease calculator, this does not seem to add up right,
https://leasehackr.com/calculator/


I am very sorry but I don't think that you are getting the correct deal at $27,000 before the factory incentives, so far I never heard anyone is willing to knock off $7095 off msrp on a volt in socal area, even if they somehow did it, they must have added markups on interests or add ons to jack it up to $237 with 8% taxes.

The best I saw is from my friend who got the steal deal in riverside due to sales kid(new dealer who hired very young guy) somehow did the math wrong, sold a $34,695 volt for $29,100 before factory incentives, and he got it with a lease, 3 years 15k miles per year, $0 down $0 drive off $0 first month, $150 with 9% L.A county tax, now that is a DEAL,

I have prove of contract to show, and I felt bad for that sales "kid" because he no longer reply our calls or emails although he still works there, I referred my other friends there and now the same volt quoted over $400 per month

so for the op, if you like to find out if your deal is right, feel free to post the contract numbers so we can all study to see

thanks

I got my $44K MSRP gen1 volt for $21K new after all incentives were applied in Monticello, IL. So the $44K car was dropped to $32.5K before incentives.

 

[ZamboniMan]

Congrats! I could only swing payments like that with a $7k downpayment. Definitely not worth that. So I got a 2014 premiere instead. Happy driving!

 

[dgn39]

Here in Massachusetts there are some good deals through the Drive Green program.
Currently a 2017 Volt LT can be leased for $115/mo. (+sales tax), $2500 down for 36 months, max. 10,000 mi./year.
Back in January was able to get a similar deal for $135/mo (+sales tax)., $1500 down, same length & miles.
Since a lease, no $7500 tax credit, however, Mass. gives a $2500 rebate -- possibly for residents only -- even if you lease.

 

[ragmalibu]

All I can post is the deal I got. I was shooting for the same deal I had on my 2014. No one was dealing last week, I mean no one. I tried all of the local dealers and none were less than $300. All of the GM incentives were gone a week ago and I looked everywhere and there were none. O down, 0 drive off, 12K per year, 36 months and $237 out the door. They even paid my last payment. I won't go heavily into why a new kid could not give a deal without a GM signing it first. Dealers never ever loose money. Your fried got an outstanding deal and he did a great job.

Deal done, cheap for me and discounts came from the dealer and some holdbacks. I'm happy. Hope it helped someone.

 

[watanabah]

Last week $189 lease.

Community Chevy in Burbank has 2017 Volt LT at $189 per month, no down, mid 17000 residual.

 

[ragmalibu]

I called them, they wanted a Drive off fee. Did they remove the drive off? Also, there are taxes on top of the 189. Its an awesome deal if these fees don't apply.

Thanks for posting, my friend is looking and trying to go lower than me.