GM Volt Forum banner

1 - 20 of 34 Posts

·
Registered
Joined
·
2 Posts
Discussion Starter #1
I've ordered a fully loaded Chevy Bolt Premiere, which will arrive soon, and am in the process of getting initial lease numbers worked out with the dealer.

I have done some basic research, and do I believe I understand the details of how leases (mostly) work, but am new to the process and would welcome advice.

MSRP on this configuration is $43510. I don't believe that, currently, many dealers are willing to go below MSRP on the 2017 Bolt. This dealer has indicated the same, and relatively consistent with other Bolt customers on the forums who have worked with other dealers in the past few weeks.

So, I am (wisely or unwisely) considering MSRP as a probable given cost of doing business for being an early adopter on the Bolt.

That said, the first round of proposed lease numbers from the dealer intuitively feel high to me, and I'd love some advice as to (1) if that is true, (2) what if anything looks off, and (3) what is the best path forward.

Here are what I think are the relevant numbers. (Let me know if there's anything I am not posting here which would provide additional insight.)

MSRP $43510
Selling Price $43510 (Discount $0)
Gross Cap Cost $44185 (MSRP + Doc + Acquisition Fee)
$2500 CCR from GM
$1073.89 of GM CCR applied Upfront (1 month advance payment + License Fee + ?)
$1426.11 of GM CCR applied as Cap Reduction
Net Cap Cost $42758.89
$0 Down from Customer
36 months
12k miles
59% residual
MF .000721
Monthly Payment (pre tax) $524.01
Monthly Payment (incl tax) $564.62

Any thoughts or constructive advice would be appreciated!
 

·
Registered
Joined
·
93 Posts
I've ordered a fully loaded Chevy Bolt Premiere, which will arrive soon, and am in the process of getting initial lease numbers worked out with the dealer.

I have done some basic research, and do I believe I understand the details of how leases (mostly) work, but am new to the process and would welcome advice.

MSRP on this configuration is $43510. I don't believe that, currently, many dealers are willing to go below MSRP on the 2017 Bolt. This dealer has indicated the same, and relatively consistent with other Bolt customers on the forums who have worked with other dealers in the past few weeks.

So, I am (wisely or unwisely) considering MSRP as a probable given cost of doing business for being an early adopter on the Bolt.

That said, the first round of proposed lease numbers from the dealer intuitively feel high to me, and I'd love some advice as to (1) if that is true, (2) what if anything looks off, and (3) what is the best path forward.

Here are what I think are the relevant numbers. (Let me know if there's anything I am not posting here which would provide additional insight.)

MSRP $43510
Selling Price $43510 (Discount $0)
Gross Cap Cost $44185 (MSRP + Doc + Acquisition Fee)
$2500 CCR from GM
$1073.89 of GM CCR applied Upfront (1 month advance payment + License Fee + ?)
$1426.11 of GM CCR applied as Cap Reduction
Net Cap Cost $42758.89
$0 Down from Customer
36 months
12k miles
59% residual
MF .000721
Monthly Payment (pre tax) $524.01
Monthly Payment (incl tax) $564.62

Any thoughts or constructive advice would be appreciated!
I am very eager to get a Bolt, but I wouldn't pay that much. I intend to wait, hoping and expecting that demand will die down before too long.

When Volt first came out, lease prices were really high. Now they are a bargain.
 

·
Registered
Joined
·
1,181 Posts
I've ordered a fully loaded Chevy Bolt Premiere, which will arrive soon, and am in the process of getting initial lease numbers worked out with the dealer.

I have done some basic research, and do I believe I understand the details of how leases (mostly) work, but am new to the process and would welcome advice.

MSRP on this configuration is $43510. I don't believe that, currently, many dealers are willing to go below MSRP on the 2017 Bolt. This dealer has indicated the same, and relatively consistent with other Bolt customers on the forums who have worked with other dealers in the past few weeks.

So, I am (wisely or unwisely) considering MSRP as a probable given cost of doing business for being an early adopter on the Bolt.

That said, the first round of proposed lease numbers from the dealer intuitively feel high to me, and I'd love some advice as to (1) if that is true, (2) what if anything looks off, and (3) what is the best path forward.

Here are what I think are the relevant numbers. (Let me know if there's anything I am not posting here which would provide additional insight.)

MSRP $43510
Selling Price $43510 (Discount $0)
Gross Cap Cost $44185 (MSRP + Doc + Acquisition Fee)
$2500 CCR from GM
$1073.89 of GM CCR applied Upfront (1 month advance payment + License Fee + ?)
$1426.11 of GM CCR applied as Cap Reduction
Net Cap Cost $42758.89
$0 Down from Customer
36 months
12k miles
59% residual
MF .000721
Monthly Payment (pre tax) $524.01
Monthly Payment (incl tax) $564.62

Any thoughts or constructive advice would be appreciated!
The one thing that sticks out is there is no $7500 tax credit in the calculations. What did the dealer say? Factoring in a tax credit would knock over $200 off those figures. You should check out leasehackr.com for good comparables.
 

·
Registered
Joined
·
43 Posts
The one thing that sticks out is there is no $7500 tax credit in the calculations. What did the dealer say? Factoring in a tax credit would knock over $200 off those figures. You should check out leasehackr.com for good comparables.
The $2500 CCR and the high residual of 59% is where the $7500 tax credit disappears into. Using the leasehackr site, if you drop the residual down to a more realistic 45% and raise the CCR up to the full $7500 that the tax credit is worth, the monthly lease payment actually goes up a bit. If the residual is at 47%, it's a wash between the two.
 

·
Banned
Joined
·
7,289 Posts

·
Registered
Joined
·
3,468 Posts
So I didn't get any of the details, just the price for a zero drive off payment all inclusive with L.A. (9%) sales tax for a base LT, non-DCFC, 36/10k at invoice...$436/mo...Knock the payment down about $70 to account for the CA $2500 incentive and you have $366/mo...Still, people are reporting $0 drive off and $200/mo for a LT Volt and you'd imagine a fully loaded ACC equiped Volt could probably be had for under $300/mo and that's before the $1500 CA state incentive...
 

·
Premium Member
Joined
·
14,156 Posts
The residual is based on MSRP and doesn't include things like the acquisition fee. So the residual would be $25671. The $2500 incentive from GM is essentially cap reduction, so the effective purchase price would be $41510 (I applied $500 to the acquisition fee) and the depreciation on the car would be $15839 or $440/month. If you plug in the money factor that's $488.10 before tax. So nothing untoward about the quote. It's also consistent with the $359/month national lease offer with $1500 down. So you're not being fleeced.

Also note that tags and taxes would be extra but you can subtract $70/month to account for the CARB rebate.

If the cap reduction due to the federal tax credit was $2000 more and you could get a $2000 discount off MSRP, then you'd be looking at $111.00 less per month. That's the early adopter premium you've recognized. You're also opting for the Premier which is more expensive, and you're opting for zero down which drives up the payments (not saying this is a bad idea, just noting it).
 

·
Registered
Joined
·
13,556 Posts
It's really supply and demand at its finest (for the dealer, worst for the buyer). They can command MSRP because there are so few Bolts, they will find someone willing to pay to be one of the first to own one.

On that point alone, I'd say run and buy one in 2018/19 when the demand softens vs. the supply.

You want this car, but do you really need this car that badly to pay over $20K for the privilege then 3 years down the road have nothing but an empty pocketbook and the need to do it all over again? Far too many people spend all of their money on things they don't really need. Yes you need transportation. No you don't need a $565 monthly payment for 3 years (unless you are filthy but if you were filthy rich you wouldn't be balking at the price.)

I have never paid MSRP for a new car. My first deal was $10k off a new $33k CTS. My next deal was $23K off of a $44k Volt.
 

·
Registered
Joined
·
3,468 Posts
It's really supply and demand at its finest (for the dealer, worst for the buyer). They can command MSRP because there are so few Bolts, they will find someone willing to pay to be one of the first to own one.

On that point alone, I'd say run and buy one in 2018/19 when the demand softens vs. the supply.

You want this car, but do you really need this car that badly to pay over $20K for the privilege then 3 years down the road have nothing but an empty pocketbook and the need to do it all over again? Far too many people spend all of their money on things they don't really need. Yes you need transportation. No you don't need a $565 monthly payment for 3 years (unless you are filthy but if you were filthy rich you wouldn't be balking at the price.)

I have never paid MSRP for a new car. My first deal was $10k off a new $33k CTS. My next deal was $23K off of a $44k Volt.
I get what you're saying yet the issue isn't sales-price it's the lack of incentives...Let's just say the Gen2 Volt "spoiled" us, during the launch as it qualified for an under invoice price at launch through costco and qualified for all GM's popular targeted incentives...

On the sales price front or getting the best deal, there's first the disclaimer that every deal is different and this isn't directed at you just overall...Just because someone says I got $10K off MSRP you have to know the entire deal because often you can find dealers making up the low sales price elsewhere such as low balling trade ins, adding bonus fees (prep fee, delivery fee, etc) overcharging for the document fee, adding B.S. mandatory charges "every car we sell has to have VIN etching package, it's only $500 and includes a full tank of fuel" increasing the interest rate, etc...Yet with the Bolt EV we're already seeing below MSRP, a forum sponser is going $1K under invoice and the non-sponser dealer is claiming to sell at invoice...But again, looking at lease deals in Cali because it's one of the two states it's sold, $37,495 at invoice is $0 drive off, $436 x 36 = $15,696 - $2500 state incentive $13,196...$34K Volt ($3500 less MSRP) $0 drive off $200/mo x 36 (first payment waived) = $7000 - $1500 = $5500 and I should add this is with one single incentive and if you can max deal this to get a lower price if you are Farm Bureau member and can use your GM points...
 

·
Banned
Joined
·
7,289 Posts
I get what you're saying yet the issue isn't sales-price it's the lack of incentives...Let's just say the Gen2 Volt "spoiled" us, during the launch as it qualified for an under invoice price at launch through costco and qualified for all GM's popular targeted incentives...

On the sales price front or getting the best deal, there's first the disclaimer that every deal is different and this isn't directed at you just overall...Just because someone says I got $10K off MSRP you have to know the entire deal because often you can find dealers making up the low sales price elsewhere such as low balling trade ins, adding bonus fees (prep fee, delivery fee, etc) overcharging for the document fee, adding B.S. mandatory charges "every car we sell has to have VIN etching package, it's only $500 and includes a full tank of fuel" increasing the interest rate, etc...Yet with the Bolt EV we're already seeing below MSRP, a forum sponser is going $1K under invoice and the non-sponser dealer is claiming to sell at invoice...But again, looking at lease deals in Cali because it's one of the two states it's sold, $37,495 at invoice is $0 drive off, $436 x 36 = $15,696 - $2500 state incentive $13,196...$34K Volt ($3500 less MSRP) $0 drive off $200/mo x 36 (first payment waived) = $7000 - $1500 = $5500 and I should add this is with one single incentive and if you can max deal this to get a lower price if you are Farm Bureau member and can use your GM points...
Lack of incentives PLUS lack of dealer discounts.

People were reporting almost $5k off Volts in December BEFORE incentives. Tack on another $6,860 in lease cash PLUS $500 Farm bureau PLUS $500 conquest/loyalty PLUS $700 Costco.

Meanwhile, people leasing Bolts got the $2,500 lease cash....and maybe $1k off MSRP if they were lucky. That's at least $6k in extra discounts a Volt lease had over a Bolt.

Once demand dies down, Bolt leases may look similar to Volt leases. However, when demand actually dies down? Who knows.
 

·
Registered
Joined
·
13,556 Posts
I get what you're saying yet the issue isn't sales-price it's the lack of incentives...Let's just say the Gen2 Volt "spoiled" us, during the launch as it qualified for an under invoice price at launch through costco and qualified for all GM's popular targeted incentives...

On the sales price front or getting the best deal, there's first the disclaimer that every deal is different and this isn't directed at you just overall...Just because someone says I got $10K off MSRP you have to know the entire deal because often you can find dealers making up the low sales price elsewhere such as low balling trade ins, adding bonus fees (prep fee, delivery fee, etc) overcharging for the document fee, adding B.S. mandatory charges "every car we sell has to have VIN etching package, it's only $500 and includes a full tank of fuel" increasing the interest rate, etc...Yet with the Bolt EV we're already seeing below MSRP, a forum sponser is going $1K under invoice and the non-sponser dealer is claiming to sell at invoice...But again, looking at lease deals in Cali because it's one of the two states it's sold, $37,495 at invoice is $0 drive off, $436 x 36 = $15,696 - $2500 state incentive $13,196...$34K Volt ($3500 less MSRP) $0 drive off $200/mo x 36 (first payment waived) = $7000 - $1500 = $5500 and I should add this is with one single incentive and if you can max deal this to get a lower price if you are Farm Bureau member and can use your GM points...
OK, the entire deal for my $10K below MSRP New CTS was that I purchased a 2004 model in March 2005, so GM put a $5k rebate on remaining 2004 models to move them, the dealership slashed another $1500, and I had $3500 in GM Card rebates. The reason this vehicle was still on the lot was because I went to a dealership in Chicagoland where manual transmission vehicles are almost impossible to sell (lots of stop and go traffic jams). But it was exactly what I wanted (silver, manual transmission, base model with the wimpiest engine, only upgrade was 17" wheels - the only thing I didn't like was the black interior, but going to a tan interior would have meant losing the 17" wheels and going to a white CTS). The dealer asked if I wanted an extended warranty or scotchguard, but didn't charge me for any mandatory add-ons. I was ecstatic to get a caddy for the price of an impala, and blessed to have a wife who prefers a stick shift.

The volt $23K off was a $5K GM price cut, $1.5K dealer price cut, $3600 GM card, $3914 state rebate (sadly this program is now suspended due to lack of state funds), $7500 fed tax credit, $1500 trade in, $2600 state taxes paid for by the dealer (local incentive). This car arrived in Feb 2013, had about 700 test drive miles, and I suspect it didn't sell because of the initial high price. I lurked at the dealership during nights and weekends drooling at the car, but resigned to the fact that there was no way I would pay $44k for an electric vehicle when $20K got you a comparably sized ICE vehicle. Then came the great $5K price cut for new 2014 models, and the 2013's also got a price cut in the form of a rebate. then my brother in law (who worked for the state) pointed out the state rebate, and all the planets aligned.
 

·
Registered
Joined
·
411 Posts

Attachments

·
Registered
Joined
·
3,468 Posts
OK, the entire deal for my $10K below MSRP New CTS was that I purchased a 2004 model in March 2005, so GM put a $5k rebate on remaining 2004 models to move them, the dealership slashed another $1500, and I had $3500 in GM Card rebates. The reason this vehicle was still on the lot was because I went to a dealership in Chicagoland where manual transmission vehicles are almost impossible to sell (lots of stop and go traffic jams). But it was exactly what I wanted (silver, manual transmission, base model with the wimpiest engine, only upgrade was 17" wheels - the only thing I didn't like was the black interior, but going to a tan interior would have meant losing the 17" wheels and going to a white CTS). The dealer asked if I wanted an extended warranty or scotchguard, but didn't charge me for any mandatory add-ons. I was ecstatic to get a caddy for the price of an impala, and blessed to have a wife who prefers a stick shift.

The volt $23K off was a $5K GM price cut, $1.5K dealer price cut, $3600 GM card, $3914 state rebate (sadly this program is now suspended due to lack of state funds), $7500 fed tax credit, $1500 trade in, $2600 state taxes paid for by the dealer (local incentive). This car arrived in Feb 2013, had about 700 test drive miles, and I suspect it didn't sell because of the initial high price. I lurked at the dealership during nights and weekends drooling at the car, but resigned to the fact that there was no way I would pay $44k for an electric vehicle when $20K got you a comparably sized ICE vehicle. Then came the great $5K price cut for new 2014 models, and the 2013's also got a price cut in the form of a rebate. then my brother in law (who worked for the state) pointed out the state rebate, and all the planets aligned.
Good job! Again, I wasn't rating your deal; just pointed out for others one needs to know the whole deal...Well done on your deal...
The overall point I was making is it isn't necessarily supply and demand, at launch GM heavily subsidized (& still is!) the Gen2 Volt...It's treating the Bolt EV like a Vette Z06 and we can't predict the future but wonder if GM will always be limited with the Bolt EVs incentives/lease terms...
 

·
Registered
Joined
·
3,468 Posts

·
Registered
Joined
·
13,556 Posts
Good job! Again, I wasn't rating your deal; just pointed out for others one needs to know the whole deal...Well done on your deal...
The overall point I was making is it isn't necessarily supply and demand, at launch GM heavily subsidized (& still is!) the Gen2 Volt...It's treating the Bolt EV like a Vette Z06 and we can't predict the future but wonder if GM will always be limited with the Bolt EVs incentives/lease terms...
It is supply and demand. the G1 volt sold for nearly MSRP from 2010-2012. In 2013, they saw a drop and had to drop the price in 2014 and offer heavy incentives to move 2014-15 models in light of the G2 arrival. Early G2 buyers (Summer 2015) paid near MSRP, and it's only now that people are seeing hefty discounts. the Bolt will be at close to MSRP until the demand is quenched and they are shipping nationwide/worldwide. When the factory gets ahead of the number of buyers, we will see incentives to keep the factory moving and supply chain flowing. If the Bolt sells like hotcakes at the onset and there is no lull in demand, you can rest assured GM will keep the prices high (much like Toyota, Honda, Jeep, and Subaru rarely offer any incentives).
 
1 - 20 of 34 Posts
Top