GM Volt Forum banner

1 - 11 of 11 Posts

·
Registered
Joined
·
6 Posts
Discussion Starter #1
Was able to get a decent deal on a summit white 2016 volt LT w/leather, comfort, and Bose out the door including all taxes and fees with excess wear and tear for $238/mo 12k/yr x36mo. Car had 2,000 miles on it and comes with full warranty. Residual is $16,800.
 

·
Registered
Joined
·
1,683 Posts
Sounds like a deal. No $$ down at signing?
 

·
Registered
Joined
·
6 Posts
Discussion Starter #3
That was the effective payment. I did have a trade that was a 10 yr old saab with 95k miles that was valued at only $1,500 anywhere I took it and $600 down. My payment have those was just under $185/mo.
 

·
Registered
Joined
·
568 Posts
Sounds like a deal. No $$ down at signing?
I'd be interested to know this as well - I'm not the leasing type, (waiting on my 2017 order to be built) Correct me if I'm wrong, the residual is the value of the car at the end of the lease? That you have the option to buy?

So 238 X 36 = 8568 + 16,800 residual, means that you have the option to buy the car for effectively $25368 ?
 

·
Registered
Joined
·
962 Posts
Congratulations! Welcome to the club. And bring that car over to the VoltShop to show it off a little. There are always a couple of liters of homebrew cold around here if you are thirsty.
 

·
Registered
Joined
·
6 Posts
Discussion Starter #6
Yes I have the option to buy at $16,800 at the end of the lease plus tax. With the excess wear and tear which I included had added $18/mo to the lease, but it includes upto $400(~1,600) in mileage overage and upto $5k in need maintenance and or repairs.
 

·
Registered
Joined
·
2,130 Posts
Was able to get a decent deal on a summit white 2016 volt LT w/leather, comfort, and Bose out the door including all taxes and fees with excess wear and tear for $238/mo 12k/yr x36mo. Car had 2,000 miles on it and comes with full warranty. Residual is $16,800.
Do you get only 10K miles the first year due to the car having 2K on it at delivery? That is how leasing demos worked at one point.
 

·
Registered
Joined
·
6 Posts
Discussion Starter #8
Nope, 12k per year for 3 years, the cars warranty goes to 3 yrs 38k because those 2k were added on. So as it stands I have 37,600 miles to use in the next 36 months
 

·
Registered
Joined
·
3,468 Posts
That you have the option to buy?
If you lease in your leasing agreement will state that you can negotiate your buyout and currently GM Financial allows this...If during turn in your resale value is lower than the buyout it's common practice for them to match that without much fuss...Never understood their sales model because most of the lenders put lease returns through the wholesale auctions...It's been reported that some lenders will negotiate down to the wholesale price but there's no way to tell if that would be the case for us during the return...
 

·
Registered
Joined
·
34 Posts
That sounds like a pretty nice deal! Especially in NY! So, you paid $2,100 down (trade in + $600) and ended up with $238/mo? Am I reading that right?

I'm in Buffalo and my Blue 2017 LT is coming in soon. They had to fetch it from elsewhere, so it's likely on a truck! Mine has the extra cost blue color and has Comfort, Bose, Leather, Illuminated Charge Port, Interior Accent Lighting and All Weather mats. $1,600 out of pocket for taxes/fees and $309/mo. I went for 36 months and 15,000 miles. If I went for 12,000 miles, it'd be $22/mo. less I think.

I'm in a 2013 Volt now. I'm excited... the extra range, center channel Bose speaker and Android Auto are going to be awesome! :)
 
1 - 11 of 11 Posts
Top