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I've been telling people on this forum for months to lease and here is why:

1. The monthly lease payments are half of the payments you would make owning the Volt.
2. For three years you get free warranty and Onstar
3. You get to upgrade to the next generation in 2--3 years
4. No worries about battery degradation.
5. We all know Chevy and the other auto makers will advance this new technology in the coming years and make the Volt a relic.
6. You can write off your lease payments as a business expense (a biggie).
 

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Really just another back handed slam against the car instead of financial advice:

'Normally, plug-in cars should cost a lot to lease because they don't hold their value well, said Ricky Beggs, Managing Editor of Black Book'

Yup, since plug-ins have been around for decades, there is really lots of understanding of what their value will be when...oh, say, gas stations in California are running out of fuel. 'Experts', my a$$.

Never leased a car in my life and never will. I will OWN it and drive it into the ground. If the last two years has told us anything about the progress of electrified transportation, there are no revolutions underway and announced additions will not be available in large numbers for years. While only time will tell if those who used particular reasoning to gamble that the Volt available when the lease runs out will be all that they had hoped for, I will be making payments of ZERO dollars in short order. In 2008, I got rid of three vehicles (purchased new) that had an average age of ELEVEN years and over hundred thousand miles each. I cannot begin to imagine how much of my net worth would be in banker's hands if I followed the 'expert' advice that some adhere to.
 

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I disagree. I'm deep in my calculations for my upcoming Volt purchase and if I plug in the $7,500 tax credit (not taken if I lease), that's an equivalent cost of $208 per month. Now the "true" cost of a lease for those eligible for the full fed credit becomes ~$600 per month vs a $674 monthly payment on a similar loan without a trade-in (your mileage may vary). For $74 more a month I still have a car at the end of the finance period. There are so many things to consider: How long do you intend to keep the car, what's your tax situation, etc. I don't think you can make a blanket, "you should lease/buy" statement. Everyone's situation is different.
 

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I actually saved my 2002 Acura MDX with 160k miles and 6 accidents (living in L.A. they weren't my fault), I use it for family trips with the wife , child, dogs, bikes, Kayak, that would not work with the Volt. I would have got very little trade in for the once $40k Acura (maybe $5k), so keeping it for when I need to fit 7 passengers or a lot of stuff was worth it (It even gets 24MPGs on the Highway). The Volt is the first car I ever leased, and I don't feel like I am leasing it, just owning it for a while. If it is really the best choice in 3 years, I could always buy the car minus my lease payments for still less than I would have paid originally to own (I think).
 

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According to CNN, don't buy a Chevy Volt, lease it.

Excerpt: "If you're considering buying General Motors' plug-in Chevrolet Volt, forget it. You're much better off leasing the car, experts say."
If you post links to CNN in here again you will be BANNED!
WopOnTour
gm-volt.com moderator



















lol j/k but seriously spare us such "propaganda" it generally this really isnt "NEWS" and almost always has an ulterior or political motive.
If you're merely looking for affirmation of your own decision keep in mind the formula are complicated and any "leasing vs buy" solution must be made taking into account a myriad of personal factors that mean there is no silver bullet solution for leasing to be "much better off" for everyone.

WOT
 

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There is a lot of confusion about lease vs buy, especially with the additional parameter of the $7500 federal tax credit. Unless you understand it in detail, you should not make uninformed statements and faulty calculations in public forums without actual examples.

Spreading FUD about leasing is as bad as spreading FUD about the Volt.
 
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I disagree. I'm deep in my calculations for my upcoming Volt purchase and if I plug in the $7,500 tax credit (not taken if I lease), that's an equivalent cost of $208 per month.
SoCA_I*R,

No, you are mistaken. The Fed $7,500 is included in the lease of the MY2013 Amazing Chevy Volt EREV. Both Ally Bank and US Bank are awarded this sum and use it as an enhansement to the RV- Residual Value, thus lowering the payment at time of lease. Add to this CCR- Cap Cost Reduction- Lease Rebate and arive at the ultra low payment as posted here-

http://www.chevrolet.com/volt-electric-car.html

Deduct from this lease payment those moneys each week/month not spent on gasoline and arive at a true low,low Net Cost to Drive!

Don't forget to add the buck a day or so for electricity....lol

Best-

Thomas J. Thias

Sundance Chevrolet
 

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There is no right answer to this question. It all boils down to your individual circumstances. For me I bought as I had two trades and then added $11,500 as a cash deposit equal to my two rebates and I got ZERO. My monthly is almost the same as some leases and I own it.
 

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I agree that the decision relies on the individuals situation. I bought mine mainly because of my commute. I drive 42 mi each way to work and can make that daily commute 100% electric most of the time by charging at work. The vehicle the volt replaced was averaging 22MPG so I will be realizing some nice fuel savings.
 

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42 miles ea way and charge at work? That's great.

There are going to be so many nice off-lease Volts in a few years. Gonna be a great market for 2+ Volt households.
 

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I believe in purchasing instead of leasing. I know it depends on the lessor (is that correct?). Al of my GM vehicles since 1975 are purchases, and I keep running them for up to twenty-six years. The best offer is what I have now through Ally at zero interest. Leasing is good for business deductions, since the lease is an expense, and at the end you can return the vehicle and get a new one.
 

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I am very glad that I purchased my Volt. When G.M. makes the MPV5 (or similar) available, the Volt will become the best second vehicle I've ever had. After a full year's use the Volt's ICE has fewer than 2,000 miles on it, and I expect the car to last a very long time. Ten years from now the Volt will still be fairly cutting edge, as the vast used car population will still consist of 20-year old rusting ICE vehicles.
 

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I've been telling people on this forum for months to lease and here is why:

1. The monthly lease payments are half of the payments you would make owning the Volt.
2. For three years you get free warranty and Onstar
3. You get to upgrade to the next generation in 2--3 years
4. No worries about battery degradation.
5. We all know Chevy and the other auto makers will advance this new technology in the coming years and make the Volt a relic.
6. You can write off your lease payments as a business expense (a biggie).
In response to #1: If you just look at monthly payments, leasing will always look better. But at the end of the lease you own nothing. At the end of the loan you own the car.

to #2: Same thing if you buy.
to #3: You can upgrade to the next generation if you buy. Just sell your car. The real question is how much it cost you to own the car for the duration of the lease vs. owning the car for the same amount of time.
to #4 and 5: That really comes down to what the resale value will be when you sell the car. The lease does offer you protection against the resale value of the car being terrible. But I think that you should really look at the total cost of the lease for the duration vs. the total cost of buying and what the resale value need to be for buying to make more sense and what you think the odds of the car being worth more than that. I did that math and I bought.
to #6: This is 100% true only if you use the car 100% for business. It doesn't apply to me, so I've never looked into it, but I suspect that there is a similar write off if you buy the car and use it 100% for business. You'd have to look at exactly how the write offs compare for leasing vs. buying, but I cannot believe that it only applies if you lease.

That article does a really poor job of justifying its position. Al it really says is that leasing costs less per month than buying and that it costs less than if the lease wasn't subsidized.
 

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It doesn't matter to me if someone wants to buy or lease. My only concern is that people understand the trade-offs. In this regard, I'll just throw in that the 0% financing is worth about the same as the lease cash GM was putting into Volt leases. The big difference was that you got the lease cash in three years and the 0% financing over six years -- so more cash per month.

The "experts" quoted in the piece are brain dead. I have no idea where the clown found that plug-in vehicles depreciate faster than straight ICE vehicles. In fact, it's very clear, beyond refute actually, that cars that get better MPG command higher resale prices on the used car market. As applied to the Volt, it wouldn't seem that, as a seller (not a buyer), you could do much better than a car with the highest satisfaction of any car that gets 175 MPG (the voltstats median). If history is any guide, Volts are going to make the price of a used Prius look sick, and the Prius holds its resale price extremely well.

Lots can happen, and I don't have a crystal ball, but I would bet (and I guess I did) that the Volt will be at the top of the used car heap for retained value.
 

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According to CNN, don't buy a Chevy Volt, lease it.

Excerpt: "If you're considering buying General Motors' plug-in Chevrolet Volt, forget it. You're much better off leasing the car, experts say."
I've ordered a 2013 Volt. Last big lease fiasco was the GM EV1....the cars were crushed and the Mobil oil bought the rights to the battery technology.
 

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Discussion Starter #17
...Deduct from this lease payment those moneys each week/month not spent on gasoline and arive at a true low,low Net Cost to Drive! Don't forget to add the buck a day or so for electricity....
Also, don't forget insurance. Some areas will result in higher premiums. Also, if you are trading in an older car, chances are your premiums will rise.
 

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Discussion Starter #18
I've been telling people on this forum for months to lease and here is why:

2. For three years you get free warranty and Onstar
3. You get to upgrade to the next generation in 2--3 years
5. We all know Chevy and the other auto makers will advance this new technology in the coming years and make the Volt a relic.
These are all pretty much related (same thing)--aka "future-proofing".
 

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I've ordered a 2013 Volt. Last big lease fiasco was the GM EV1....the cars were crushed and the Mobil oil bought the rights to the battery technology.
"GM will have to pry it from my charger's dead cold hands."
-- Eric Garcetti at the EV1 funeral
 
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