Rate my lease Need to finalize deal tomorrow.
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If you lose your job tomorrow, are you OK with the risk of owing $6.1k over 3 years? It's all Monopoly money. $0 down payment means higher payments. $5k down means lower payments. What you didn't tell us was the MSRP and what the discounted price of the car was. Dealerships are more than happy to ask you what you are willing to pay as a payment to hook you in, then make their money. But the best deals are where you negotiate the price way, way down then go from there.
Plus, 3 years from now you are back at square one looking for your next car, which is another opportunity to find a decent deal or get screwed. I prefer to find the deal of the decade, buy it with the 100% down plan, $0 per month payments, unlimited miles, unlimited term, and avoid car dealerships as much as possible.
Plus, 3 years from now you are back at square one looking for your next car, which is another opportunity to find a decent deal or get screwed. I prefer to find the deal of the decade, buy it with the 100% down plan, $0 per month payments, unlimited miles, unlimited term, and avoid car dealerships as much as possible.
OK if you are in a CARB state (and they tax the entire sale price....if they don't, not so hot). Non-CARB state, I guess that is pretty good.
Don't like the huge up front money though. $0 down is the way to go. GMF leases have built-in GAP, so no worry of being upside down if car gets totaled.
Don't like the huge up front money though. $0 down is the way to go. GMF leases have built-in GAP, so no worry of being upside down if car gets totaled.
Ditto...Go zero down, a dollar today is worth more than a dollar tomorrow...
His deal was for 15k/year.
Perhaps it's different for downpayments, but I paid the full 3-year upfront with cash; my contract states that I will be refunded the prepaid unused portion up to the amount of the insurance payout.
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119 Posts
LLNINJA...we see the same reply to every inquiry?? Why dont you share your wealth and buy all Volts for ALL buyers YOUR for Cash and then we can all share the same philosophy ??
)Normally, I would agree with LLninja, but not with this car. It's not going to last like other cars. Buying it and keeping it for 10+ years is almost certainly not going to be an option. It won't be user serviceable, and the cost of keeping it on the road might escalate to the point where it is no longer economically viable to keep it. It WILL be superseded by other better technologies (both EV and hybrid). The new technologies will further drive down the resale cost.
Buying this car (instead of leasing) is dangerous and risky. Can you risk being stuck with an obsolete boat anchor that you can't resell or trade when 200+ mile EV's are commonplace in a few years? Interest and finance charges are nothing compared to the depreciation risk on this car. The Volt can easily decline in value over $5k/year for the first few years. If you can lease it for $3-$4k/year.... do it. Worst case, you lose an extra thousand or two on lease fees, interest, or early termination charges.
Leasing protects you by limiting your exposure to depreciation. It actually works very well to negotiate the sale price in three years at the same time you are buying. If you buy up front, you lose your leverage in negotiating the future sale. A lease provides a much more accurate picture of the cost of owning a Volt, because unlike a conventional ICE car, you can't count on the car being viable beyond 7 years or so. It's an unknown.
Thanks all for quick and detail response. This deal is from Dublin CA. Looking through comments for sure will go for $0 down.
Additional details for Car
M.S.R.P.: $35,595.00
Selling Price: 32,095.00
Rebate $7360.00
Working cash: $11860.00
Residue Amount: 17,805 (48%)
Money Factor: 0.00040
Additional details for Car
M.S.R.P.: $35,595.00
Selling Price: 32,095.00
Rebate $7360.00
Working cash: $11860.00
Residue Amount: 17,805 (48%)
Money Factor: 0.00040
Ok, based off the additional info, it looks OK for a 15k miles/year lease, if you have no additional incentives available (farm bureau etc...). Not the lowest I've seen, but still pretty good.
Not the best deal at all. I am in Dublin and I can tell you Dublin never has the best deal or most of the time. I have been checking with few bay area dealers and have been able to get better. PM me for details.
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361 Posts
Rydells: 2017 Volt LT: $3,290 down (includes tax, lic., fees, 1st mo. pymnt) then $149 per month for 35 months. 10k mi./yr.
or buy one for $29,395 after $4,700 discount: MSRP 34,095
http://www.chevynorthridge.com/Rydell-Chevrolet-Newspaper-Specials
or buy one for $29,395 after $4,700 discount: MSRP 34,095
http://www.chevynorthridge.com/Rydell-Chevrolet-Newspaper-Specials
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361 Posts
Capitol Chevrolet, San Jose, CA
2017 Chevrolet Volt LT
36 MONTH LEASE - $199/mo plus tax
On approved credit. Lease for $199 per month plus tax for 36 months. $999 due at signing plus $0 security deposit. 10,000 miles per year, $0.25 per mile thereafter.
5 at this offer. STK# C15912. VIN# 108702. Prices plus government fees and taxes, any finance charges, any dealer document processing charge, any electronic filing charge and any emissions testing charge. No holds or deposits. All vehicles sold on a first come, first serve basis.
Offer expires: 10/31/2016
2017 Chevrolet Volt LT
36 MONTH LEASE - $199/mo plus tax
On approved credit. Lease for $199 per month plus tax for 36 months. $999 due at signing plus $0 security deposit. 10,000 miles per year, $0.25 per mile thereafter.
5 at this offer. STK# C15912. VIN# 108702. Prices plus government fees and taxes, any finance charges, any dealer document processing charge, any electronic filing charge and any emissions testing charge. No holds or deposits. All vehicles sold on a first come, first serve basis.
Offer expires: 10/31/2016
It's currently under 1% interest rate...A lot of folks are getting the total price $8500 (before the CA incentive), with the current MF that's $122 in interest over the life of the lease...But you get to keep your money in the bank in 3 years and heck, even invest it, many high yield savings accounts exceed 1%...As always, leasing gives you options...Will the MY19 Volt get 75 miles of range with a $5K price drop? Will the MY19 Bolt EV give you ACC/power seats/sunroof/150KW charging/HUD/vented seats and most importantly, homelink? Now you're not stuck with this car which doesn't hold it's value...Also understand, you're getting a $35K-ish car for $8500ish, I was able to use a service that pays more than CarMax, and got way over my what I owed on my balance, however, in Cali, you have to pay the incentive back if under 30 months therefore I got out of my Volt lease for $1,000...
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