GM Volt Forum banner

1 - 13 of 13 Posts

·
Registered
Joined
·
58 Posts
Discussion Starter #1
Just leased a 2017 Premier, Siren Red, with Confidence 1&2:
45k miles / 3yr lease


MSRP: 40,350
Negotiated Price: 37,470
Other Discounts: 5,270
Trade In: 3,000
Lease Fee: 595

Adjusted Gross: 29,795

Residual: 19,000

Lease payment: $329/mo; with taxes it's $358

I'm in Los Angeles area.
 

·
Registered
Joined
·
69 Posts
You did ok.

You could have done better on the "other discounts". What exactly did you get there?

In California there is the
$4235 lease cash
a bonus $2280 lease cash
$1000 private offer if you were able to score one or a $500 lease loyalty discount or $1000 lease conquest. You can only use 1 of these 3
I believe CA also has an extra $1000 incremental cash offer. Not sure if that applies to just purchases or leases too.

Also if the $1500 CA rebate is still available you can apply for that. I'm not sure if it is. Many CA lease customers here were putting $1500 down to lower the monthly payment and then using the rebate to reimburse themselves.

Regardless, it's a great car and you should be very happy driving it.
 

·
Premium Member
Joined
·
14,156 Posts
Congrats on the car. No idea about the trade-in, but otherwise you did quite well, especially with the 45K mile allowance. Plus you'll eventually get another $1500 rebate from California.

Hard to know about all the extra discounts. Those are highly variable.
 

·
Registered
Joined
·
58 Posts
Discussion Starter #4 (Edited)
Thanks @Zoder. This was my first lease, sorry for the confusion. I've always purchased my vehicles prior to this. I went back and carefully looked at everything. Here's a better breakdown.


MSRP: $40,350
Negotiated Price: $37,470

Incentives:
=======
GMF Supported Lease: $4235
CCR Program: $2250 (what you called bonus lease cash)
Lease Cash: $358

So, that makes the final cost of the car: $30,627
With a residual of $19,000

I had a $3k trade which about half went to taxes and fees, the rest to down payment. In the end up covering about $10800 in depreciation over 36 months on a 45k miles lease.
 

·
Registered
Joined
·
69 Posts
Your welcome. You did get all of the lease support GM Financial is giving in CA not just 5,270 like you originally posted.

So you did real good with the discounts. The dealership didn't keep any for themselves.

If you are curious, the only other thing you would want to check is the money factor you are being charged. It might be listed as rent charge on your lease agreement. Top tier credit for a premier is .00060 this month. The dealer can mark it up to an additional .00084 which goes to their bottom line.
 

·
Banned
Joined
·
7,289 Posts
Yep. Money factor = 0.0006. Thanks so much! I feel better now :)
.0006 is the best MF for a Premier (.0004 MF is for LTs only).

A rough rule of thumb for rating a lease deal is to divide the final monthly payment (converted to a ZERO DOWN, all fees/taxes rolled in monthly payment) by the MSRP. If it is 1% or less of MSRP, you got at least a "good" deal. Anything 0.8% and less and we start approaching "great deal" territory. Something 0.5% of MSRP or less, and that's basically stealing a car legally. :) Like those Cruze giveaway leases late last year.

Of course choosing higher mileage limits (15k versus 10k) affects those numbers.

Looking at your deal, it seems it fell just shy of my "good" rating, but if you got the exact car you wanted, nothing to really complain about. Your converted 0 down monthly payment is $441/month, which is 1.09% of MSRP. A $1k private offer would have reduced the monthly another $30 bucks, which would have bumped it into the "good" zone. :)

Dealer discount could have been a bit more too. You can probably find a dealer to go $4k off MSRP of a Premier with enough hunting/negotiating.

But yes, you did at least "OK".
 

·
Registered
Joined
·
2 Posts
I got a very similar deal also in the LA area. 12K/yr, 1500 down, 330/mo. I tried to do 299/mo they said no and was willing to let me walk away. They even told me no to the 330/mo until I mentioned the $1000 offer I got from Chevy's website. This is a little better than what Costco could do at 385/mo, 0 Down, 12K/yr.
 

·
Registered
Joined
·
87 Posts
Well I got a $299/month (including taxes) with a $1490 drive-off for a 10K/year-36 month for a loaded 2017 Premier with DC1, DC2, ACC with an MSRP of $41,000. Is this ok/good ?

Total discounts including $1000 PO came to $7840. No trade in.

Would have been pretty much zero drive-off if the CA state refund had not been over.
 

·
Registered
Joined
·
15 Posts
Picked up my new 2017 Volt LT with no options yesterday. Purchased in Ohio...no CARB...

313.00/month...1000.00 drive off for 15k/year 39 month...

Details:

Car MSRP: 34095
Dealer sold car for 32,100
GM rebate 4600 (this is the tax credit Part)
GM Private Offer 1000
Drive off - 1000
Residual .46
Money Factor .00040

I think I did OK...

-M
 
1 - 13 of 13 Posts
Top