[ses]

Hi All,
My 2014 Volt lease is ending this month. I only have 23k miles (lease was for 30k). I called US Bank and they came down from $24k (plus tax) residual to $19k (incl taxes). Still more than I want to pay. I will call them back again, but I am wondering if the low mileage will impact my ability to get them down lower. Any thoughts?

Also, has anyone purchased an extended warranty? Are they worth it?
thanks!
ses

 

[Mister Dave]

Compare.

https://www.cargurus.com/Cars/inventorylisting/viewDetailsFilterViewInventoryListing.action?sourceContext=usedPaidSearchNoZip&formSourceTag=112&newSearchFromOverviewPage=true&inventorySearchWidgetType=AUTO&entitySelectingHelper.selectedEntity=c24005&entitySelectingHelper.selectedEntity2=c24005&zip=90001&distance=500&searchChanged=true&modelChanged=false&filtersModified=true

 

[DonC]

Whether the price is good depends on what your options are. You know the car so presumably it's a good one. When you go to the used market you're getting into a crap shoot. So I'd think it would be worth a few grand to be sure of the outcome. You could also try leasing again. Seems like you got a good deal the first time.

I suspect US Bank is more worried about the cars coming off leases. You may be able to get a larger discount but they no doubt have corporate guidelines.

Extended service plans are worth it if you shop around (any dealer in the US can sell you a plan) to get a good price and you want to limit your downside risk. Pretty much like getting insurance on most things. Some people will say that "on average" you'll spend more than you'll get back. That's true but it's true of all insurance. You are paying in order to avoid being the "lucky one" with several expensive repairs.

 

[Carls Volt]

I just bought yesterday an off lease 2014 Volt Premier from a Chevrolet dealership with 21,400 mile for $18,400 out the door. Buying it from GM gives me 1 year of bumper to bumper coverage and the rest of the warranties. If your bank lets you buy out at 19K including taxes you most likely can not do better on the used car market.
i have been shopping for the last 3 months and 18 to 21K is the norm for a 14 off lease car

 

[llninja]

We can't tell you whether that's a good price or not because you didnt' tell us whether you have a base or Premium Dan what options you have. The MSRP can vary by over $5k.

I'm very anti extended warranties. Just put the money you would have spent on the warranty in the back and use that for any car repairs. The odds are that you won't need to replace more than that amount. The only exception is if you have a long history of cars falling apart on you. If you are that unlucky, then maybe an extended warranty is for you

 

[VoltageDrop]

We can't tell you whether that's a good price or not because you didnt' tell us whether you have a base or Premium Dan what options you have. The MSRP can vary by over $5k.

I'm very anti extended warranties. Just put the money you would have spent on the warranty in the back and use that for any car repairs. The odds are that you won't need to replace more than that amount. The only exception is if you have a long history of cars falling apart on you. If you are that unlucky, then maybe an extended warranty is for you

I tend to agree with you and do not purchase extended warranties on many things....but....in the Volt....I though of it as cheap insurance as there are MANY electronic/computerized systems in this car ....lots of potential for an expensive problem or problems.....luckily (and I really hope I do not jinx myself here).....the only warranty issue I have had in the entire 5 years/52K miles I have owned the Volt (well besides the cricket-y sounding brakes at near complete stops.... in the cars infancy.... that was taken care of with some extra lube or something....still not exactly sure what the dealer did but it went away so....) was the service high voltage system error with a failed coolant sensor....seems to be a common problem (so I have read)..........

 

[Paul]

$19 is not realistic. Several months ago two individuals posted here that they got US Bank down to $11,000 and $12,000 but after weeks of going back and forth but the low US Bank offer only came in days before the car was due to be turned in. As I understand it, some or all of the $7,500 federal tax incentive (which US Bank pocketed) was added to the residual to bring down the lease payment; your residual may actually be $16,500 if the applied the entire $7,500 to the residual.