$$$ Benchmark as of 6/23/17

3104 Views 33 Replies 15 Participants Last post by thetoad, Jul 3, 2017

notaguru

Discussion Starter · Jun 23, 2017 (Edited)

For those thinking of upgrading from GEN1, and for new Volters, here's a guide. The dealer is not in business to lose money, so despite the sales guy pointing to "-$2000" on the sheet somewhere, this deal surely was profitable and should be replicable.

Venue: California
Car: Premier
Color: Summit White
Purch date: June 2017
Mfg date: May 2017
Miles: 12
GM options: Both confidence packs, ACC, leather, Bose (essentially everything possible)
Dealer inst: Ambient lighting, wheel locks, rubber mats (for when it snows in San Diego)
Car price: About $35,000
Tax/fees: About 10%, or $3,500
Down payment: zero/nada/zilch/rien
Total: $38,500 including tax, fees, license, a full tank and a full charge
Financing: Zero down, zero interest, 60 months
Rebates: Fed @ $7,500, CA @ $1,500
NET COST: $29,500 including everything

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notaguru

Discussion Starter · #5 · Jun 23, 2017 (Edited)

Tomt said:
Everybody gets the fed and state rebates so effectively the price of the car was $38,500... It looks like a reasonable but not exceptional deal...

I apologize for the lack of clarity in my original post, which I have tried to rectify. CAR PRICE was $35k. With taxes/fees, etc. the TOTAL went to $38,500, the principal that was financed at zero down, zero interest, 60 months.

Further, I get to keep my $38.5k, and my portfolio currently averages >6%, so that zero interest loan adds $2,310/year to the deal minus lost income on monthly payments. Not just a good deal, but to me it's an exceptional one. Since I drive 30-40 miles a day, free because of paid-for solar, owning my loaded Premier Volt ends up costing less than a new Toyota minicar.

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notaguru

Discussion Starter · #10 · Jun 24, 2017 (Edited)

It's difficult to get a true apples-to-apples comparison. There's a finite number of possible configurations and options of which some are important and others are silly, but that number is large and dealers are not motivated to help achieve clarity.

On my first Volt (Jan 2012) I had no guidance and met a rigid dealer. I paid almost MSRP, yet enjoyed that car for five and a half years. The new car, I'm sure, will provide at least as much satisfaction - augmented by the reality that it cost LESS and does [far] MORE than my 2012.

Comparable Toyota Camry and Honda Accord models cost MORE than a Volt! Hard to understand, isn't it?

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notaguru

Discussion Starter · #29 · Jul 2, 2017 (Edited)

BACK TO THE TOPIC

As of late June 2017, a fully loaded Volt Premier was attainable at these (rounded) numbers -- or less:
Sticker including dest charge: $41,700
Discounts: $6,300
Net: $35,400
CA tax and license: $3,600
Total acquisition cost: $39,000
Cash up front: zero/nada/rien
Financing: $39k, 60 months, zero percent (0%) interest
Payments: $39,000/60=$650/month
Fed tax credit: $7,500
State rebate: $1,500
Net cost to buyer: $30,000*

I'm positive that other buyers can do better (this is NOT a challenge, or a contest). However, I am totally satisfied because for that expense I got exactly what I wanted: white Premier, brandy leather, ACC (wow!!), autoparking, Bose, both confidence packs, and 50% off of the dealer-packed items**. It appears that the zero interest contract is regional - here's what it's worth to me: $39k at BofA's rate of $2.6% is about $44 per month of interest that I will NOT pay. Nice.

And, I have a dealership close to home - just in case my car needs attention.

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*That's about the cost of a premium but non-hybrid Camry or Accord

**Rubber floor mats (ugh!), locking lug nuts (replaced), cargo net, lit charge port, and interior purple lighting (lowrider special). A shameful practice! The only thing missing is Gaseous Technologies' ATLS (anti-traffic levitation system), which is backordered.

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