[Mikejarrett]

My 2011 lease is up in July of this year (3 year, $358/month on a loaded volt). I called US bank to see what the termination deal was, and they said that I could buy my car for $31k and change, plus sales tax. I told them that car was worth between $20-22k, and asked if there was anything that they could do on the price. After a few minutes on hold, they said that they would sell me the car for $22,502 plus sales tax, and they would be willing to do that finance at a little over 3% if I just wanted to convert it to a note (they said 3.35% for a 72 month or 3.14% for a 48 month term).

Seems like a very reasonable approach, and I'm pretty sure that I'm going to end up buying the car. When you consider the 36 monthly payment ($12,888) plus the purchase price of $22,502, I ended up paying $35,390. Not a killer deal, but pretty good considering that the car had a sticker of $44k or so, and I paid MSRP. Leasing can work.

 

[11715]

I have US bank but will not be buying. It is good to know they will work with you on the price.

My 2011 lease is up in July of this year (3 year, $358/month on a loaded volt). I called US bank to see what the termination deal was, and they said that I could buy my car for $31k and change, plus sales tax. I told them that car was worth between $20-22k, and asked if there was anything that they could do on the price. After a few minutes on hold, they said that they would sell me the car for $22,502 plus sales tax, and they would be willing to do that finance at a little over 3% if I just wanted to convert it to a note (they said 3.35% for a 72 month or 3.14% for a 48 month term).

Seems like a very reasonable approach, and I'm pretty sure that I'm going to end up buying the car. When you consider the 36 monthly payment ($12,888) plus the purchase price of $22,502, I ended up paying $35,390. Not a killer deal, but pretty good considering that the car had a sticker of $44k or so, and I paid MSRP. Leasing can work.

 

[Weatherman]

I sure hope US Bank stays with that approach for the next few years. I have my lease with them and I'd like to keep the car, but I'm not willing to give up the $7,500 tax credit to buy the car at the end of the lease. If they were willing to pass the tax credit on to me, it would be a done deal.

 

[brian123]

Looks like a good deal considering you got to start enjoying the Volt when it first launched, saved on gas since then, and especially when comparing the original MSRP. Even if you run numbers on buying a new loaded Volt at the lower MSRP, plus $4k in dealer discounts, $1000 private offer, and current tax rebates/credits, it will still be a bit cheaper to buy the lease at this point.

Is there an option to extend the lease, maybe long enough to hold out for the 2015 Volt?

 

[tomh]

I got my second Volt for about $24,000 after $1,000 private offer, $7,500 federal, and $2,000 state incentives... i guess if your state does not offer any incentives it is not as sweet of a deal.

 

[Henry_FL]

That is good news ... I hope Ally will do something similar, but have not found anyone that was able to get a discount

 

[RedneckRoyalty]

Are you sure you want to buy your old Volt with the new '15 just around the corner?

 

[2012volt_driver]

So they are giving you back the $7500 tax credit you signed over to them plus a $998 discount. Encouraging. What is your loaded Volt selling for local to you?
New loaded Volts are $270 in my area.

 

[rdunniii]

What is the 2015 Volt going to get anyone that they don't already have other than new for a price?

 

[Cari]

Our 3 year lease on our 2011 Volt via US Bank ended in March. I called just like you did and they made an offer to buy at a semi-reasonable price just like the op. However, we choose to trade it for a 2014 Volt. Since we were able to get 5700+ off a 40k msrp and got out of most of the taxes (big deal since Texas charges tax on whole amount, not lease amount) by leasing via US Bank again, our payments were $165 less than before (not counting the 2k put down before and this time just first payment).

If you bought a $22k car at 0% for 60 months, you would have same payment. That is before tt&l and we wouldn't get a lot of the $7500 back as our tax liability would be a factor. US Bank will sell the car to the dealership for less than they would to you I bet. You can then use it as a trade and get out of some of the taxes.

BTW, if you get the dealership to take it, then you get out of the return fee, doesn't matter miles, doesn't matter damage, you don't get double taxed (might not apply depending on state), and way less hassle. Doesn't usually pay to buy after lease. There are always exceptions though. I personally just enjoy walking up to the car and not having to take the key out of my pocket. May sound silly, but just like I don't charge my cell phone via a cord anymore, once you get to that level, you don't want to go back.

 

[RedneckRoyalty]

What is the 2015 Volt going to get anyone that they don't already have other than new for a price?

Exactly my point...Who knows? Better range? More room? Better looks? Better gas mileage when running on the ICE? More "up to date" center stack technology? I guess if you have to turn your current Volt in right now, you really don't have the option to wait and see...

 

[Sandybestdog]

2015 Chevrolet Car Volt changes

Deletions

Exterior color (GBN) White Diamond Tricoat

New Features

Exterior color (G1W) Iridescent Pearl Tricoat (extra cost)
(VV4) OnStar 4G LTE Wi-Fi Hotspot
(PCY) Navigation and Bose Premium Audio package

So basically hardly anything is changing. Good to hear that US bank is flexible with the lease buyout. From all accounts, ALLY does not reconsider buyout amounts at all.

 

[adric22]

I have Ally bank.. But I'm hopeful they'll work out a similar deal. Our residual is set at $26,000 for our 2012 model. I think it is too high, but I'd like to keep the car. If they'll negotiate and get down to a realistic value, I'll keep it. If they don't, I'll let them have it back and try to find a 2013 model (I'd like the larger battery) on the used market somewhere. We still have a year to go, though. In fact, maybe the announcement of the 2nd-gen Volt will drop resale values even more, which as a buyer would be a good thing for me.